[ANN] [KIMO] Kimocoin | VOICE YOUR SUPPORT FOR MORE KIMO AUCTIONS

[didux]

if the coin is divided by 1000 the block reward should be 1000 times lower then to compensate.

Yes, of course--that's automatic.  In fact, I'm testing the new wallet right now and you can mine on the existing pools without modification and the coins show up /1000.  The pool might show 60000 KMC, but when you get coins with the new wallet there are only 60 KIMO.  When the new wallet is released, I'll update p2pool, the block explorer, the faucet, etc to reflect the symbol and decimal change.

perfect !

[MoneroMooo]

I think the denomination change seems like a good idea, though I have to admit I'm more than hazy about the consequences

[jacob019]

I think the denomination change seems like a good idea, though I have to admit I'm more than hazy about the consequences

The main consequence would be BTC trading.  Right now if you want to buy some KMC you first have to buy LTC, which makes it more difficult and ties our price to LTC.  Our community is small enough that it should not be a major disruption.  In fact KIMO and KMC would still be compatible, if you send 1 KIMO to a KMC wallet, 1000 KMC will show up.  If you send 1000 KMC to a KIMO wallet, 1 KIMO will show up.  If you have 1M KMC in your wallet, and you upgrade to the KIMO wallet, you will see 1K KIMO.  The new wallet just moves the decimal left.  What other consequences are you unsure or concerned about?  

[cell.md]

For now, 50 000 and down?

2 jacob019:

on http://p2pool-eu.kimocoin.com/static/  if you look at
Current block value:    0.29668371 KMC    

About this a talked earlier. Probably p2pool going crazy on blocks value changes

[jacob019]

Got some bad news.  Forgetme made a mistake in the block reward code.  After block 150000, the reward is < 1 KMC.  

You can see his mistake here:
https://github.com/jacob019/kimocoin/blob/bc81a83bd121d0620576da969a78f2c1533740bd/src/main.cpp
*** line #1128, can you see it?  He forgot to multiply by COIN, so the reward is in Kimotoshis, instead of KMC. :-(

We're going to do an emergency hard fork at block 150300.  I have contacted Comkort about it, and will update the pools and everything else.  For all the community members, you will only need a new wallet.  We're going to wait for the change to KIMO until after the emergency update.

[cell.md]

Got some bad news.  Forgetme made a mistake in the block reward code.  After block 150000, the reward is < 1 KMC.  

You can see his mistake here:
https://github.com/jacob019/kimocoin/blob/master/src/main.cpp
*** line #1128, can you see it?  He forgot to multiply by COIN, so the reward is in Kimotoshis, instead of KMC. :-(

We're going to do an emergency hard fork at block 150300.  I have contacted Comkort about it, and will update the pools and everything else.  For all the community members, you will only need a new wallet.  We're going to wait for the change to KIMO until after the emergency update.

What a f*ck up 
It's sad about need of forced hard fork, but I think all be alright. Waiting for new version of kimocoin.

[jacob019]

Seriously, what a stupid mistake.

I have finished the changes.  The patched source is available here:
https://github.com/jacob019/kimocoin

I have already updated the p2pool nodes kmc.1js.us and p2pool-eu.kimocoin.com, so you can continue mining as normal.  The block explorer and faucet have been updated also.  Comkort is aware of the update and is working to install the new wallet.  If anyone knows how to compile for windows, please help.  Otherwise, I will study it later tonight.

[cell.md]

Jacob019, minerd (vertcoin) need to be patched also, or not?

[jacob019]

Jacob019, minerd (vertcoin) need to be patched also, or not?

No need.  The only thing you must do is download the new wallet, you may continue mining as normal.  Please do not send any coins with the old wallet, it will not work after block 150300.  All KMC services have been updated with the new wallet, I'm just waiting to hear back from the other pools and from Comkort.

[MoneroMooo]

I think the denomination change seems like a good idea, though I have to admit I'm more than hazy about the consequences

The main consequence would be BTC trading.  Right now if you want to buy some KMC you first have to buy LTC, which makes it more difficult and ties our price to LTC.  Our community is small enough that it should not be a major disruption.  In fact KIMO and KMC would still be compatible, if you send 1 KIMO to a KMC wallet, 1000 KMC will show up.  If you send 1000 KMC to a KIMO wallet, 1 KIMO will show up.  If you have 1M KMC in your wallet, and you upgrade to the KIMO wallet, you will see 1K KIMO.  The new wallet just moves the decimal left.  What other consequences are you unsure or concerned about?  

Yes, I got that. What I meant is that there might be consequences on trading, like higher volume, liquidity, that kind of thing. Which I don't know much about, so I only gave my agreeing opinion on the points you gave. I did not have any particular thing I was concerned about. Just... hazy about second order effects (and I don't mean necessarily bad ones )

[didux]

does our old kimocoin on comkort will be auto -converted ?

[jacob019]

This hard fork has nothing to do with the change to KIMO.  The hard fork is because forgetme made a mistake with the block reward.  In fact the change to KIMO has been postponed until the dust settles from the hard fork.  All your coins at Comkort and anywhere else are safe, just don't use the wallet until you upgrade to the new one.  I'm compiling a new one for windows now.  Does any one use the Mac wallet?

[didux]

so if i understand correctly, i don't touch my kmc on comkort until kimo get's on ? Then the transfert in the new currency will be like sending wallet to wallet ?

[jacob019]

Sorry for my poor communication.  The change to KIMO is delayed for one week.  Now we are doing a hard fork to fix the block reward, still KMC.  After you download the new wallet, you may mine and trade as before.  There is a mandatory update to the new wallet, there are no other changes.

[didux]

mayby it's me who don't understand. I got all my kmc on comkort wallet, i don't have "desktop wallet". So on comkort i can't "uptade" the wallet. How should i proceed ?

[jacob019]

mayby it's me who don't understand. I got all my kmc on comkort wallet, i don't have "desktop wallet". So on comkort i can't "uptade" the wallet. How should i proceed ?

If you don't have the desktop wallet, then you don't need to do anything.  Don't worry about it.  

[didux]

ok thx

[jacob019]

The hard fork has occurred and the block reward is fixed.    If you are still using the old wallet, please close it.  The new Windows binary will be available very soon.

If you're mining on P2Pool and don't see any recent coins, don't worry--they're still there and will show up as soon as you open the updated wallet.

[birdonwheels5]

Updated the US East coast p2pool node (birdspool.no-ip.org:2891) to the new wallet.

[didux]

someone voted for my logo ! i love you man ! now i can recycle myself in art design :p