[ANN] SpreadCoin | True Decentralization (No Pools) | Testing New Masternodes

[A-tM]

Whats going on?

After block 43000 it seems no new block is found, and almost an hour passed already. (New block should approx be each ten minutes on my system.)
But also the block explorer does not show any new block above, nor getmining info.
I have also experienced halving of the hashrate.

21:33:13
{
"blocks" : 43000,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.00906820,
"errors" : "",
"generate" : true,
"genproclimit" : 8,
"hashespersec" : 59701,
"networkhashps" : 731453,
"pooledtx" : 0,
"testnet" : false
}

Dev, can you please comment this?

Regards,
Andy

[Frigga77]

Whats going on?

After block 43000 it seems no new block is found, and almost an hour passed already. (New block should approx be each ten minutes on my system.)
But also the block explorer does not show any new block above, nor getmining info.
I have also experienced halving of the hashrate.

21:33:13
{
"blocks" : 43000,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.00906820,
"errors" : "",
"generate" : true,
"genproclimit" : 8,
"hashespersec" : 59701,
"networkhashps" : 731453,
"pooledtx" : 0,
"testnet" : false
}

Dev, can you please comment this?

Regards,
Andy

still stuck at block 43000.

[Mr. Spread]

During my testing everything was ok but now something went wrong, I'm looking at it now, will try to fix as soon as possible.

[Mr. Spread]

I found what was wrong. I am now making new builds, this will take some time (1-2 hours). I will release new builds and at the same time commit changes to github.

[girino]

Finally, here it is:
Windows wallet
Mac OS X wallet
Linux wallet

Hardfork is set to block 43000.
The general idea is that there is some additional information in each block that proofs that miner knows whole block and private key for spending coinbase transaction. That means that if you mine in a pool you can submit shares as usual and get reward for them but if you will actually find a valid block then you can send it directly to the network instead of the pool and get full reward for it. Pool may detect it and ban you but this is still may be advantageous for you. If your mining power gives you low probability of finding a block then if you will accidentally find a block it gives you more profit even if the pool will ban you for not sharing this block. If you have enough mining power to find blocks consistently then you can connect to a pool and submit shares for some time but steal the first found block, this way you can get both reward for your shares and actual block that you mined, this is like doubling your hashrate.
Given all this I don't expect that anyone will create a pool. But if someone will then I will modify whatever miner software will be used for it to implement the stealing described above, we may expect that most pool miners will then switch to this cheating version which will make this pool useless.

Also I made built-in GUI for the miner. Currently it is still the same CPU miner but in the future I want to make as interface to external miners. Other developers (and me) will be able to independently create CPU and GPU miners and fastest such miners will be distributed with the wallet and available from GUI.

I changed difficulty retarget to six hours. I don't want to set it to lower values because then it may become vulnerable to manipulation by setting improper block timestamps.

Existing GPU miner will become unusable after the fork point because of the modifications to the mining algorithm which are necessary to prevent pools.

AFAIK, it makes no difference to send the new block to the pool or send it directly to the network, since it doesn't matter who posts it, but ratter who is able to retrieve it. Since the miner must have the PK to mine, it can always spend the money from the pool, even the blocks he did not mine by himself.

And if I get that right, to be accepted the block must not only hash to a certain difficulty, but also the generated coins must be sent to the same address that signs the block? So i can't mine directly to more than one address like p2pool does?

[Mr. Spread]

I updated builds, should work now:
Windows wallet
Mac OS X wallet
Linux wallet

[Mr. Spread]

AFAIK, it makes no difference to send the new block to the pool or send it directly to the network, since it doesn't matter who posts it, but ratter who is able to retrieve it.

It is important if both miner and pool knows the private key. Whoever will be first to broadcast the spending transaction to other miners will win.

Since the miner must have the PK to mine, it can always spend the money from the pool, even the blocks he did not mine by himself.

Pool can give different private keys to different miners.

And if I get that right, to be accepted the block must not only hash to a certain difficulty, but also the generated coins must be sent to the same address that signs the block? So i can't mine directly to more than one address like p2pool does?

Yes.

[girino]

AFAIK, it makes no difference to send the new block to the pool or send it directly to the network, since it doesn't matter who posts it, but ratter who is able to retrieve it.

It is important if both miner and pool knows the private key. Whoever will be first to broadcast the spending transaction to other miners will win.

Well, is that possible to add the spending transaction to the same block as the mining transaction? For example, the pool adds the following transactions to the block being mined:

Tx1 = Generated coins 6.66 -> Addr1
tx2 = Spend Tx1 -> Addr2

In that case, the same block generates the coins and spends them. (I am not sure if it is possible because of the confirmations the block needs before being spent, but you know better than me about those things)

[girino]

I updated builds, should work now:
Windows wallet
Mac OS X wallet
Linux wallet

I am unable to run the mac wallet directly (under OSX mavericks), but entering the .app folder and running spreadcoin-Qt from the command line works ok. There might be something broken in the packaging.

[BITDV]

I updated builds, should work now:
Windows wallet
Mac OS X wallet
Linux wallet

working perfect fpr me!! good job bud!!

[A-tM]

I updated builds, should work now:
Windows wallet
Mac OS X wallet
Linux wallet

Working nice, thank you!
Looking forward to new announcements and features.

In the meantime, an advice or asking for the owners of the larger amount of coins:
When the trading on the exchange starts,
please, do not undervalue your coins.

Ideally, the exchange should start only after greater adoption, when hashrate significantly rises.
If an average miner can get only, let's say twenty coins a day, then the profitability threshold for mining and then selling should be at least fraction above the electricity consumption.
So the price should not be abruptly lowered by dumpers, because an average miner will never have too much coins to dump.
If miner spend one dollar on electricity for getting these twenty coins, their value should stay above one dollar.
And at 500$ = 1 BTC this is equivalent to 1 SPR = 0.0001 BTC.

If the market demand will be low, please, you, who possess greater amounts of SPR, mine, sell only low amounts of SPR, wait and do not dump. It is no reason to dump and ruin the price. You can sell lower amounts for the same profit, if you let the price stay higher.
Nobody will win if some of us will start a price war, trying to sell his coins at any cost.

[Mr. Spread]

Meanwhile, I found some blocks with very strange difficulty, I need to found out is it some bug in difficulty adjustment or are they just some artifacts.

Forgot to say about it, in fact everything was ok, there is no bug.

Well, is that possible to add the spending transaction to the same block as the mining transaction?

No.

I am unable to run the mac wallet directly (under OSX mavericks), but entering the .app folder and running spreadcoin-Qt from the command line works ok. There might be something broken in the packaging.

I don't know much about OS X, I have never used it. I'm just using the same build process from Darkcoin. Do you have the same issue with Darkcoin? Maybe something is wrong with file permissions, i.e. there is no executable permission, although in that case you would not be able to run it from command line either.

[girino]

I am unable to run the mac wallet directly (under OSX mavericks), but entering the .app folder and running spreadcoin-Qt from the command line works ok. There might be something broken in the packaging.

I don't know much about OS X, I have never used it. I'm just using the same build process from Darkcoin. Do you have the same issue with Darkcoin? Maybe something is wrong with file permissions, i.e. there is no executable permission, although in that case you would not be able to run it from command line either.

Darkcoin executables are always buggy (wrong fonts, etc) but they open correctly. I'll check file permissions (possibly its permission on some resource file, not the main executable).

[girino]

I am unable to run the mac wallet directly (under OSX mavericks), but entering the .app folder and running spreadcoin-Qt from the command line works ok. There might be something broken in the packaging.

I don't know much about OS X, I have never used it. I'm just using the same build process from Darkcoin. Do you have the same issue with Darkcoin? Maybe something is wrong with file permissions, i.e. there is no executable permission, although in that case you would not be able to run it from command line either.

Darkcoin executables are always buggy (wrong fonts, etc) but they open correctly. I'll check file permissions (possibly its permission on some resource file, not the main executable).

Info.plist was still poiting to darkcoin executables. You possibly need to change some packaging property to point to the right executable before building.

[zeca pagodinho]

Wonder why after 12 hours with the open wallet'm not mining?

[A-tM]

Wonder why after 12 hours with the open wallet'm not mining?

Do you have the very latest build?
There was an error in the new build provided before fork.

Correct one reads: v0.9.14.0-g0935f02-beta

Regards,
Andy

[zeca pagodinho]

Wonder why after 12 hours with the open wallet'm not mining?

Do you have the very latest build?
There was an error in the new build provided before fork.

Correct one reads: v0.9.14.0-g0935f02-beta

Regards,
Andy

My version is the same: v0.9.14.0-g0935f02-beta

[nightwishx]

This is your coin. Go have fun.

[zeca pagodinho]

I lost all my coins
42k 

[A-tM]

I lost all my coins
42k 

And the backup of Wallet.dat??

Sure you have it?!!   
I made it at least before the upgrade process, who knows...