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

[Roister01]

Thanks Alenevaa...

i take that to mean there is no point me mining UTC on my laptop anymore?

Does it still make sense to do YAC?

Cheers,

Roister

[alenevaa]

i take that to mean there is no point me mining UTC on my laptop anymore?

Does it still make sense to do YAC?

Yes, YACoin is currently on NF17. That makes it CPU-coin.
See detailed answer in yacoin thread..

[alenevaa]

It's happened! After block #1,600,240 the difficulty starts to adjust!

[lpedretti]

It's happened! After block #1,600,240 the difficulty starts to adjust!

Only thing missing is the pump

Best regards!

[_Nafanya_]

It's happened! After block #1,600,240 the difficulty starts to adjust!

Already it became 21K 

[alenevaa]

Already it became 21K 

Yes, the difficulty is too high. The chain has almost stopped.

[lpedretti]

With 100khs you mine 80 coins per day by current diff. Electricity cost you(monthly) 100€ what is 0.28BTC.
By current price you need to mine 933 days to get 0.28BTC.
PUMP that we need just to  cover electricity should raise coin price to 0,00011666 Sat.
We only need 0,00011306 Sat bigger price.
Not bad at all.

That or diff lowering enough, what happens first...

[lpedretti]

With 100khs you mine 80 coins per day by current diff. Electricity cost you(monthly) 100€ what is 0.28BTC.
By current price you need to mine 933 days to get 0.28BTC.
PUMP that we need just to  cover electricity should raise coin price to 0,00011666 Sat.
We only need 0,00011306 Sat bigger price.
Not bad at all.

Apart from the price issue, what do you use to get 100kh/s???
I'd need at least 12 gtx 970! is there other cheaper way?

[coinsplz777]

no more blocks been found ?, there's more work to do it seems...

[Hilux74]

Even if diff drop a lot Botnet virus will connect again  and will raise diff.
So .... changing nf was not solution. Should block CPU mining to get rid of botnet virus.

AT N14 there is no CPU botnet doing anything of consequence.  CPUs cannot compete against GPUs at N14 (or N15).  At N14 it is EZmode mining for dummies again and UTC has likely made its way back onto the menu of profit-hopping multipools. 

I wish the devs had gone with N15...no botnets no multipools...and low end GPUs matched effectiveness of higher end GPUs and power usage was lower. Mining setup took some more skill but it was worth it imo.

[lpedretti]

Even if diff drop a lot Botnet virus will connect again  and will raise diff.
So .... changing nf was not solution. Should block CPU mining to get rid of botnet virus.

AT N14 there is no CPU botnet doing anything of consequence.  CPUs cannot compete against GPUs at N14 (or N15).  At N14 it is EZmode mining for dummies again and UTC has likely made its way back onto the menu of profit-hopping multipools. 

I wish the devs had gone with N15...no botnets no multipools...and low end GPUs matched effectiveness of higher end GPUs and power usage was lower. Mining setup took some more skill but it was worth it imo.

It's sustaining a ~10Mh/s, i don't thing that's a profit switching multipool.
I smell fpgas

[lpedretti]

Dont agree with you Hilux74
on NF 15 was also botnet virus. Was not so effective as on nf 16 compare GPUs mining, bit it was.
Maybe you right about multipools, but i dont think so. There is 100 more profitable coins to mine and i  dont know any multipool who mine scrypt-jane coins?
Nice hash add scrypt-jane but for nf 16. Othervise you can maybe rent couple rigs on interent. So my question is if is not bot virus from where then you can get 12MHS nethashrate?
if one GPU give you 5khs that should be then 2400 GPUs/6=400 Rigs.
dont know.

Yes, the hashrate is insanely high, would they put that hashrate spread on different nets that would give lot's of btc's worth altcoins, however the rest of the altcoins have not decreased rate, so where's that hashrate coming from? and why it doesn't decrease when the utc price does not rise up?
Hell, 12Mh/s would be really nice even on normal scrypt...

[devlin]

In fact hashrate is low, only diff. is high (fork and diff. increase/retarget), and net hashrate is calculated vs. diff.
only a few blocks is find.

[usukan]

In fact hashrate is low, only diff. is high (fork and diff. increase/retarget), and net hashrate is calculated vs. diff.
only a few blocks is find.

This will certainly balance supply up after the glut over the last 3 days

Seems its gone from a block every 2-3 seconds to a block every few hours - till I guess the retarget in difficulty adjusts to current hashrate and we get back to 60 sec blocks

If I was mining I would be a bit frustrated at present - but thinking back on the last 3 days rewards its not that bad overall

[usukan]

@Kracko

I have to ask the question

Its now over 8hrs since the last block - is this increased difficulty going to decrease at some stage?

Miners have abandon mining - mine for 8 hrs for hope of 10 UTC?

http://utc14.yacoin.club/index.php?page=statistics&action=pool

I am sure you are aware that nothing works now - wallets wont sync and mining, transactions and staking are stuck.

Whats the reason - will it fix itself - or are you working on fixing it?

[maxim000]

final wallet stay not sinhronized last 2 hour

[usukan]

It's happened! After block #1,600,240 the difficulty starts to adjust!

@alenevaa

What is actually happening?

[alenevaa]

It's happened! After block #1,600,240 the difficulty starts to adjust!

@alenevaa

What is actually happening?

As you know, fork point was set to block #1,600,000 but difficulty has started to adjust significantly only after block 1,600,240. Then I've wrote that fork is happened.

As a result, you can see that chain has completely stopped. The last block was found more then 9 hours ago.

So what's next? Another fork? Or may be revert to original Ultracoin. The pool utc.yacoin.club is still working and even finding blocks!

[usukan]

It's happened! After block #1,600,240 the difficulty starts to adjust!

@alenevaa

What is actually happening?

As you know, fork point was set to block #1,600,000 but difficulty has started to adjust significantly only after block 1,600,240. Then I've wrote that fork is happened.

As a result, you can see that chain has completely stopped. The last block was found more then 9 hours ago.

So what's next? Another fork? Or may be revert to original Ultracoin. The pool utc.yacoin.club is still working and even finding blocks!

Hey thanks for your reply alenevaa

I have no idea whats best -  I await advice from the devs and anybody else with tech insight

Something needs to be done - and done quick.

Cheers - usukan

[bathrobehero]

I'm not sure how reliable ultrabex.tumblingblock.com is because it lost sync but here are some stats from the 1st of this month:

Day	Blocks mined	Block reward	Coins per day
1	1376	30	41280
2	1579	30	47370
3	1665	30	49950
4	1939	30	58170
5	1628	30	48840
6	1783	30	53490
7	17712	30>10	?
8	30401	10	304010
9	32567	10	325670
10	lost sync	10	-

And now the difficulty way overshot, from 0.00024414 to 0.3663 which is a 1500 times increase (you can see it here: http://utc14.yacoin.club/index.php?page=statistics&action=blocks) and it might keep rising?