[Ultracoin] [Est. Feb 2014] ~ ASIC Resistant & Ultrafast 6 Second Transactions!

[Kracko]

I agree with avoiding full POS; I'm not so convinced we should separate from our miners entirely yet.

I'll toss another idea into the hat.  I've been turning over the idea of going multialgorithm- we could still avoid the ASICs and select other GPU-centric algorithms and capture the simplicity of those other algos in setting up the miner.   Perhaps Neoscrypt to start with.  That would really be a boon for the ATI miners as yacminer has a higher learning curve and the hassle of changing settings with NFactor increases than most care to deal with.   Maybe CryptoNight too.  With other algos available, we could maintain the existing scrypt-jane progression without freezing it with other alternatives available and see where that leads.

The retarget would have to be completely revamped.  We could even add ASICs algorithms, SHA256 and Scrypt, to the list.  We'd still be partially ASIC resistant, but we'd also be opening up to a much wider audience.  Each algo could have only 1/x of the total block time towards the difficulty calculation, with 'x' being the number of total algorithms, including PoS as an algo.  They all could be weighted asymmetrically too- such as giving PoS a larger share of the block time in its difficulty calculation to half of the total shares, for greater PoS protection.

Hello gents,

@King_Pin I have been loyal to Ultracoin since the very beginning, we have no reason to fake accounts to bring up ideas to the community, if you remembered, in the beginning I was a strong opponent to going full POS. Leave the agent provocateurs to politics.

@barabbas Ultracoin, despite our dip, still has potential to push forward. We are still in the ring, and despite the recent fall out, we still have enough leverage to keep us in the fight. It is to my knowledge that there are several large investors and groups of investors that spent a significant amount of capital investing in Ultracoin. I have no way of knowing for sure, but it is possible that these investors have liquidated their bags. A few large whales can make quite the impact on the market. I for one have never sold any Ultracoin, and all the Ultracoin I have acquired has been through mining and purchasing off the open market. I have no plans on selling, and morally and philosophically I could never sell my holdings. I want to see Ultracoin succeed, and I believe in what we are doing.

@Vlad2Vlad Inflation will definitely affect the price, and I am afraid that at the rate we are going we can see substantial inflation every year. 33% per year or higher just based upon the expansion of our money supply. If crypto is meant to be the future of money, and POW/POS is the distribution system, we may need to lower this inflation rate substantially in order to let newcomers enter. The USD has the Federal Reserve, US Government and the member banks to issue its currency, we have our computers. The problem with POW coins is that I believe the inflation is far too high. I do not believe that full POS is a good idea as that will simply benefit those who are holding and not those who are interested in joining the community from the outside, I believe this centralizes capital too much and isn't the best idea, at least not at this stage.

@Valpe & Usukan Thank you for your continued support, it can be very disheartening at times to hear all the negativity on the forums, but from a dev teams point of view we do all we can to serve the community and it is nice to see support back. In the beginning of the year I said that the communities efforts will be a determining factor to see where Ultracoin heads in the future. There have been several community members that have been extremely positive and helpful while providing feedback that has helped us get closer to our goals. We are all a team, and we have to work together to make Ultracoin a success.

I am interested in starting an open discussion concerning lowering inflation while still rewarding miners for supporting the network, Kracko had also suggested suspending Ultracoin at our current N-Factor. This would set us a part from the rest of the Scrypt-ChaCha pack, while remaining ASIC resistant we can still attract GPU miners while remaining extremely energy efficient. One major concern with Scrypt-ChaCha has always been block size, and I do not believe any Scrypt-ChaCha coin has considered the logical conclusion of higher N-Factors and their effect on blockchain load time. One issue with our 30 second blocktime was the amount of time the headers took to load the blockchain on a fresh installation. Years from now, the blockchain bloat would be enormous, especially considering the blocktime, this played a major factor into the change to a 60 second blocktime. If we suspended at N15 with a lower inflation rate (translated lower block reward), we could potentially decrease supply, thus raising price while simultaneously making us unique by not having the ever increasing N-Factors which would result in less block chain bloat and GPU tweaking. We would still be in a favorable position to receive miners from other coins with increased ASIC presence while giving our current miners a break from tweaking miner settings.

The dev team will be holding a meeting this week on our plans moving forward, I believe that more frequent updates will be necessary. The truth is, Kracko has a lot of work on his hands and things have been progressing slower than previously planned, but they are progressing. With the impending release of the one click miner along with other updates, we are continuing our work on the development side of Ultracoin. I do ask the community to help step up to the plate with any ideas, suggestions and concerns. We are a small development team but we are doing everything we can to put the communities needs first, however we do ask for the community to become an active participant in the process as other great cryptocurrency communities have. Ultracoin can be a success, if you want it.

Sincerely,

Steven "Rapture"
Management Director
Steven@Ultracoin.net
Ultracoin

[Hilux74]

I think it would be bad to move away from scrypt-jane (scrypt-chacha).  I think it is great that at high Nfactors (>=14) bottom end GPUs like the R7-240 get as good or better hash rates than cards 5-10x their price AND that they use a fraction of the wattage to do so. 

It is going to be interesting to see what happens when YAC hits NF17...will CPUs start getting back in the game?  Scrypt-jane is the main reason I like YAC & UTC.

Also changing algo is just waxing the fruit and doesn't change the challenges that UTC and every altcoin faces of actual usage and adoption.  I liked the energy I was seeing in this coin in the fall, its what pulled me from primarily YAC to primarily UTC.  Hope that energy comes back.

 

[usukan]

If you do go multi algo - please consider just adding SHA256 and keep things simple

The widest audience for multi's

 DGB and MYR are good examples to review

thanks for the update guys

Cheers - usukan

I agree with avoiding full POS; I'm not so convinced we should separate from our miners entirely yet.

I'll toss another idea into the hat.  I've been turning over the idea of going multialgorithm- we could still avoid the ASICs and select other GPU-centric algorithms and capture the simplicity of those other algos in setting up the miner.   Perhaps Neoscrypt to start with.  That would really be a boon for the ATI miners as yacminer has a higher learning curve and the hassle of changing settings with NFactor increases than most care to deal with.   Maybe CryptoNight too.  With other algos available, we could maintain the existing scrypt-jane progression without freezing it with other alternatives available and see where that leads.

The retarget would have to be completely revamped.  We could even add ASICs algorithms, SHA256 and Scrypt, to the list.  We'd still be partially ASIC resistant, but we'd also be opening up to a much wider audience.  Each algo could have only 1/x of the total block time towards the difficulty calculation, with 'x' being the number of total algorithms, including PoS as an algo.  They all could be weighted asymmetrically too- such as giving PoS a larger share of the block time in its difficulty calculation to half of the total shares, for greater PoS protection.

Hello gents,

@King_Pin I have been loyal to Ultracoin since the very beginning, we have no reason to fake accounts to bring up ideas to the community, if you remembered, in the beginning I was a strong opponent to going full POS. Leave the agent provocateurs to politics.

@barabbas Ultracoin, despite our dip, still has potential to push forward. We are still in the ring, and despite the recent fall out, we still have enough leverage to keep us in the fight. It is to my knowledge that there are several large investors and groups of investors that spent a significant amount of capital investing in Ultracoin. I have no way of knowing for sure, but it is possible that these investors have liquidated their bags. A few large whales can make quite the impact on the market. I for one have never sold any Ultracoin, and all the Ultracoin I have acquired has been through mining and purchasing off the open market. I have no plans on selling, and morally and philosophically I could never sell my holdings. I want to see Ultracoin succeed, and I believe in what we are doing.

@Vlad2Vlad Inflation will definitely affect the price, and I am afraid that at the rate we are going we can see substantial inflation every year. 33% per year or higher just based upon the expansion of our money supply. If crypto is meant to be the future of money, and POW/POS is the distribution system, we may need to lower this inflation rate substantially in order to let newcomers enter. The USD has the Federal Reserve, US Government and the member banks to issue its currency, we have our computers. The problem with POW coins is that I believe the inflation is far too high. I do not believe that full POS is a good idea as that will simply benefit those who are holding and not those who are interested in joining the community from the outside, I believe this centralizes capital too much and isn't the best idea, at least not at this stage.

@Valpe & Usukan Thank you for your continued support, it can be very disheartening at times to hear all the negativity on the forums, but from a dev teams point of view we do all we can to serve the community and it is nice to see support back. In the beginning of the year I said that the communities efforts will be a determining factor to see where Ultracoin heads in the future. There have been several community members that have been extremely positive and helpful while providing feedback that has helped us get closer to our goals. We are all a team, and we have to work together to make Ultracoin a success.

I am interested in starting an open discussion concerning lowering inflation while still rewarding miners for supporting the network, Kracko had also suggested suspending Ultracoin at our current N-Factor. This would set us a part from the rest of the Scrypt-ChaCha pack, while remaining ASIC resistant we can still attract GPU miners while remaining extremely energy efficient. One major concern with Scrypt-ChaCha has always been block size, and I do not believe any Scrypt-ChaCha coin has considered the logical conclusion of higher N-Factors and their effect on blockchain load time. One issue with our 30 second blocktime was the amount of time the headers took to load the blockchain on a fresh installation. Years from now, the blockchain bloat would be enormous, especially considering the blocktime, this played a major factor into the change to a 60 second blocktime. If we suspended at N15 with a lower inflation rate (translated lower block reward), we could potentially decrease supply, thus raising price while simultaneously making us unique by not having the ever increasing N-Factors which would result in less block chain bloat and GPU tweaking. We would still be in a favorable position to receive miners from other coins with increased ASIC presence while giving our current miners a break from tweaking miner settings.

The dev team will be holding a meeting this week on our plans moving forward, I believe that more frequent updates will be necessary. The truth is, Kracko has a lot of work on his hands and things have been progressing slower than previously planned, but they are progressing. With the impending release of the one click miner along with other updates, we are continuing our work on the development side of Ultracoin. I do ask the community to help step up to the plate with any ideas, suggestions and concerns. We are a small development team but we are doing everything we can to put the communities needs first, however we do ask for the community to become an active participant in the process as other great cryptocurrency communities have. Ultracoin can be a success, if you want it.

Sincerely,

Steven "Rapture"
Management Director
Steven@Ultracoin.net
Ultracoin

[Thirtybird]

I think it would be bad to move away from scrypt-jane (scrypt-chacha).  I think it is great that at high Nfactors (>=14) bottom end GPUs like the R7-240 get as good or better hash rates than cards 5-10x their price AND that they use a fraction of the wattage to do so. 

This, +1.  If you lock the NFactor, you would avoid people having to change their settings... however...

It is going to be interesting to see what happens when YAC hits NF17...will CPUs start getting back in the game?  Scrypt-jane is the main reason I like YAC & UTC.

NEW CPU's will be competitive again at NF=17 or 18.  Already at NF=16 for YAC they're in spitting range of a 4 GB R7 240 on a performance per watt standpoint (looking at the lower wattage/laptop CPU parts). 
OLD CPU's and high wattage desktop CPUs probably won't ever get there on a performance per watt standpoint, so don't hold your breath that your 3770K is going to become a juggernaut UTC miner anytime soon...

As for keeping miners vs going POS - unless a miner has cheap electricity (<$.10 KW/h), or they are investing their electricity cost into UTC, it's barely above break-even currently, even on the efficient rigs.

[ntrader]

Hi, guys.
Does anyone still mining ultracoin?
Could you write your settings for yacminer or cgminer?
I killed 3 hours and cann't start mining on my rig (5x7970, 4GB RAM) - always getting HW.
But on CPU it works.

Thanks!

[king_pin]

Craptsy is not working again... guess it will be 3-4 weeks til they fix it... again!  


EDIT: I was missing a few deposits, but I got them a few min ago!!!

[primouno]

I agree with avoiding full POS; I'm not so convinced we should separate from our miners entirely yet.

I'll toss another idea into the hat.  I've been turning over the idea of going multialgorithm- we could still avoid the ASICs and select other GPU-centric algorithms and capture the simplicity of those other algos in setting up the miner.   Perhaps Neoscrypt to start with.  That would really be a boon for the ATI miners as yacminer has a higher learning curve and the hassle of changing settings with NFactor increases than most care to deal with.   Maybe CryptoNight too.  With other algos available, we could maintain the existing scrypt-jane progression without freezing it with other alternatives available and see where that leads.

The retarget would have to be completely revamped.  We could even add ASICs algorithms, SHA256 and Scrypt, to the list.  We'd still be partially ASIC resistant, but we'd also be opening up to a much wider audience.  Each algo could have only 1/x of the total block time towards the difficulty calculation, with 'x' being the number of total algorithms, including PoS as an algo.  They all could be weighted asymmetrically too- such as giving PoS a larger share of the block time in its difficulty calculation to half of the total shares, for greater PoS protection.

Hello gents,

@King_Pin I have been loyal to Ultracoin since the very beginning, we have no reason to fake accounts to bring up ideas to the community, if you remembered, in the beginning I was a strong opponent to going full POS. Leave the agent provocateurs to politics.

@barabbas Ultracoin, despite our dip, still has potential to push forward. We are still in the ring, and despite the recent fall out, we still have enough leverage to keep us in the fight. It is to my knowledge that there are several large investors and groups of investors that spent a significant amount of capital investing in Ultracoin. I have no way of knowing for sure, but it is possible that these investors have liquidated their bags. A few large whales can make quite the impact on the market. I for one have never sold any Ultracoin, and all the Ultracoin I have acquired has been through mining and purchasing off the open market. I have no plans on selling, and morally and philosophically I could never sell my holdings. I want to see Ultracoin succeed, and I believe in what we are doing.

.....

Sincerely,

Steven "Rapture"
Management Director
Steven@Ultracoin.net
Ultracoin

Great idea Kracko. I would like to see this working It could bring many new miners to UTC.

[CRYPTONAIRE]

That's a big plus 1 from me too!!  

for Kracko idea +1  

I agree with avoiding full POS; I'm not so convinced we should separate from our miners entirely yet.

I'll toss another idea into the hat.  I've been turning over the idea of going multialgorithm- we could still avoid the ASICs and select other GPU-centric algorithms and capture the simplicity of those other algos in setting up the miner.   Perhaps Neoscrypt to start with.  That would really be a boon for the ATI miners as yacminer has a higher learning curve and the hassle of changing settings with NFactor increases than most care to deal with.   Maybe CryptoNight too.  With other algos available, we could maintain the existing scrypt-jane progression without freezing it with other alternatives available and see where that leads.

The retarget would have to be completely revamped.  We could even add ASICs algorithms, SHA256 and Scrypt, to the list.  We'd still be partially ASIC resistant, but we'd also be opening up to a much wider audience.  Each algo could have only 1/x of the total block time towards the difficulty calculation, with 'x' being the number of total algorithms, including PoS as an algo.  They all could be weighted asymmetrically too- such as giving PoS a larger share of the block time in its difficulty calculation to half of the total shares, for greater PoS protection.

Hello gents,

@King_Pin I have been loyal to Ultracoin since the very beginning, we have no reason to fake accounts to bring up ideas to the community, if you remembered, in the beginning I was a strong opponent to going full POS. Leave the agent provocateurs to politics.

@barabbas Ultracoin, despite our dip, still has potential to push forward. We are still in the ring, and despite the recent fall out, we still have enough leverage to keep us in the fight. It is to my knowledge that there are several large investors and groups of investors that spent a significant amount of capital investing in Ultracoin. I have no way of knowing for sure, but it is possible that these investors have liquidated their bags. A few large whales can make quite the impact on the market. I for one have never sold any Ultracoin, and all the Ultracoin I have acquired has been through mining and purchasing off the open market. I have no plans on selling, and morally and philosophically I could never sell my holdings. I want to see Ultracoin succeed, and I believe in what we are doing.

@Vlad2Vlad Inflation will definitely affect the price, and I am afraid that at the rate we are going we can see substantial inflation every year. 33% per year or higher just based upon the expansion of our money supply. If crypto is meant to be the future of money, and POW/POS is the distribution system, we may need to lower this inflation rate substantially in order to let newcomers enter. The USD has the Federal Reserve, US Government and the member banks to issue its currency, we have our computers. The problem with POW coins is that I believe the inflation is far too high. I do not believe that full POS is a good idea as that will simply benefit those who are holding and not those who are interested in joining the community from the outside, I believe this centralizes capital too much and isn't the best idea, at least not at this stage.

@Valpe & Usukan Thank you for your continued support, it can be very disheartening at times to hear all the negativity on the forums, but from a dev teams point of view we do all we can to serve the community and it is nice to see support back. In the beginning of the year I said that the communities efforts will be a determining factor to see where Ultracoin heads in the future. There have been several community members that have been extremely positive and helpful while providing feedback that has helped us get closer to our goals. We are all a team, and we have to work together to make Ultracoin a success.

I am interested in starting an open discussion concerning lowering inflation while still rewarding miners for supporting the network, Kracko had also suggested suspending Ultracoin at our current N-Factor. This would set us a part from the rest of the Scrypt-ChaCha pack, while remaining ASIC resistant we can still attract GPU miners while remaining extremely energy efficient. One major concern with Scrypt-ChaCha has always been block size, and I do not believe any Scrypt-ChaCha coin has considered the logical conclusion of higher N-Factors and their effect on blockchain load time. One issue with our 30 second blocktime was the amount of time the headers took to load the blockchain on a fresh installation. Years from now, the blockchain bloat would be enormous, especially considering the blocktime, this played a major factor into the change to a 60 second blocktime. If we suspended at N15 with a lower inflation rate (translated lower block reward), we could potentially decrease supply, thus raising price while simultaneously making us unique by not having the ever increasing N-Factors which would result in less block chain bloat and GPU tweaking. We would still be in a favorable position to receive miners from other coins with increased ASIC presence while giving our current miners a break from tweaking miner settings.

The dev team will be holding a meeting this week on our plans moving forward, I believe that more frequent updates will be necessary. The truth is, Kracko has a lot of work on his hands and things have been progressing slower than previously planned, but they are progressing. With the impending release of the one click miner along with other updates, we are continuing our work on the development side of Ultracoin. I do ask the community to help step up to the plate with any ideas, suggestions and concerns. We are a small development team but we are doing everything we can to put the communities needs first, however we do ask for the community to become an active participant in the process as other great cryptocurrency communities have. Ultracoin can be a success, if you want it.

Sincerely,

Steven "Rapture"
Management Director
Steven@Ultracoin.net
Ultracoin

[nanoprobe]

24 hour low of 200 sats on Bittrex. Wow! I really thought this coin would be one that survived. Guess I was wrong.

[Vlad2Vlad]

24 hour low of 200 sats on Bittrex. Wow! I really thought this coin would be one that survived. Guess I was wrong.

On bittrex.

Now we know where the source of manipulation is coming from.

[nanoprobe]

24 hour low of 200 sats on Bittrex. Wow! I really thought this coin would be one that survived. Guess I was wrong.

On bittrex.

Now we know where the source of manipulation is coming from.

I wouldn't exactly call a volume of 0.13403753 BTC in the last 24 hours manipulation.

[king_pin]

Hi DEADteam,... sorry i meant DEVteam why not copy something else from some other coin.
Seriously, why not try DARK send or some type of anonymous technology.

[pugman]

The problem that lies with Ultracoin is the lack of new investors the management team have failed to provide this community. . . You may as well have left Bumface in charge

[TrackCoin]

great job UTC... very much Awesome working they are..

[tc61]

March 20th : "The dev team will be holding a meeting this week on our plans moving forward"

Anything to share Steve?

Thx

[BorisWCR]

...all are wining and crying and only point to the Dev team.

But if you all look deep in the mirror and ask your self serious "what have i done lately for UTC " Then probably you have to admit you did dent do anything serious to help UTC the last 6 months.

As follow;

You did dent promoot (enough) UTC arround in the wide world!
You did dent helped UTC in any professional way and did dent offer help to the dev team!
You did dent spent your UTC and shopped with it but act like you are Dagobert Duck and keep your UTC in your wallet!
You did expect that the dev team would do and arrange everything while you was sitting on your lacy bum!
You did nothing more then only wining, crying, talking negative and being a non helper !

So now you looked in the mirror seriously you still point at the dev team???

You had to ask yourself this before , but you did dent :

"Dont ask what UTC can do for you... but ask what you can do for UTC ".....

[Jamil.Kamil]

Welcome ones again UTC....

[dan_and_shan]

...all are wining and crying and only point to the Dev team.

But if you all look deep in the mirror and ask your self serious "what have i done lately for UTC " Then probably you have to admit you did dent do anything serious to help UTC the last 6 months.

As follow;

You did dent promoot (enough) UTC arround in the wide world!
You did dent helped UTC in any professional way and did dent offer help to the dev team!
You did dent spent your UTC and shopped with it but act like you are Dagobert Duck and keep your UTC in your wallet!
You did expect that the dev team would do and arrange everything while you was sitting on your lacy bum!
You did nothing more then only wining, crying, talking negative and being a non helper !

So now you looked in the mirror seriously you still point at the dev team???

You had to ask yourself this before , but you did dent :

"Dont ask what UTC can do for you... but ask what you can do for UTC ".....

Nice touch
 im still chipping away at poloniex, to relist us , but  the low volume is not helping,
 but hey now is the time to fill you bags, cant see it much lower

[Valpe]

You are so right. 

...all are wining and crying and only point to the Dev team.

But if you all look deep in the mirror and ask your self serious "what have i done lately for UTC " Then probably you have to admit you did dent do anything serious to help UTC the last 6 months.

As follow;

You did dent promoot (enough) UTC arround in the wide world!
You did dent helped UTC in any professional way and did dent offer help to the dev team!
You did dent spent your UTC and shopped with it but act like you are Dagobert Duck and keep your UTC in your wallet!
You did expect that the dev team would do and arrange everything while you was sitting on your lacy bum!
You did nothing more then only wining, crying, talking negative and being a non helper !

So now you looked in the mirror seriously you still point at the dev team???

You had to ask yourself this before , but you did dent :

"Dont ask what UTC can do for you... but ask what you can do for UTC ".....

[pugman]

What did I do for their coin?  I bought $15000 worth. Isn't that enough?  If they got another 100  people to do the same UTC would have a much healthier marketcap. I'm an investor not a campaigner/blogger/innovator. My investment is more than enough.