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

[BorisWCR]

@Steven

Do you have information why withdrawel and deposit stlll not are possible at Cryptsy ?

This is still a messages at cryptsy about the UTC wallet :  "Our wallet is currently offline due to issues with the coin's blockchain"

[Valpe]

@Steven

Do you have information why withdrawel and deposit stlll not are possible at Cryptsy ?

This is still a messages at cryptsy about the UTC wallet :  "Our wallet is currently offline due to issues with the coin's blockchain"

Knowing Crypsty it can take days. Ask them nicely when I can do business with UTC.

[king_pin]

The network hash rate is a computation based off of the difficulty using the average time of the last 120 blocks.

Span S = Block120Time - BlockTime1Time
AveTime = S / 120
HashRate = Difficulty * 2^32 / AveTime

It is not showing the current network hashrate.  It is only, and always has been, a computation based on the difficulty and average time, and is only an estimate.  It doesn't show what is happening now, but an average over the last two hours.   It will appear to pop during lucky streaks or increase in hash rate over the last 120 blocks as the difficulty goes up.  Because it is based on a longer time frame if we have a bunch of hash and then much less it takes awhile to correct.  Once the amount of miners stabilizes for a longer period of a time, so will the network hash rate.  As long as we have people hitting us and leaving us it is going to keep bouncing around with the difficulty changes.

I know its not the actual hashrate, but it is a reflection of the speed of blocks being found.
Now why and how is it possible to have the last 120 blocks found 500% faster so that the Hashrate is displayed as 5 times higher.

As long as we have people hitting us and leaving us it is going to keep bouncing around with the difficulty changes.

I was waiting for this answer, from where does this additional hahsrate come???

[reb0rn21]

@king_pin
look like you do not get how the network work, atm bunch of ppl are testing solomining or just testing the pool after the hardfork.. its usual for hash to jump as insane, looking at the pool I mine all is just fine atm

[Official Ultracoin Team]

@BorisWCR

I notified Cryptsy and the other exchanges about the update. It is most likely just taking them time to update their wallet. I believe they might be using Linux for their wallet, since we don't have a Linux version available yet they may be working on compiling one from the source and that might be what's taking them so long to update. I just sent them a ticket again to check on what's going on.

[Thirtybird]

As long as we have people hitting us and leaving us it is going to keep bouncing around with the difficulty changes.

I was waiting for this answer, from where does this additional hahsrate come???

You all realize this can happen with ZERO change in network hashrate right?  You all realize that finding a block is brute forcing some numbers together and that sometimes you get lucky early, and find it, and sometimes you don't, right?

The jumping difficulty makes sense from a botnet/pool-hopping prevention standpoint, but from a "predicting profitability" standpoint, is really unfriendly.  I've watched the difficulty swing by a factor of 6.5x today. I saw 1.55k as a low and 10.2k as a high (not to say I didn't miss something more extreme than that).  It may still be too early to tell but I think you may have missed the mark on re-targeting slightly and maybe it should also utilize a daily (i.e. past 1440 blocks) cap.  For example, difficulty can raise up to 8% per block, but no more than 15% over the difficulty from 1440 blocks ago.  That might have wound up being the limiting factor, and would likely need some hard math to determine what best to use, but something that gets you there in a more gradual fashion.  This is just something I'd had rolling around in my head, and a day may be too short of a choice too, but some sort of delta-diff-limiter.  As a miner, I hate wild swings in difficulty - most of which have only been necessary on coins that have large multi-pools that can hit them, of which, UTC is not currently one, or likely to be one in the future due to the lack of coins using the same algorithm on the same N factor.

[king_pin]

@Thirtybird and reb0rn21
I just love it when NOOBS try to explain things to me.


Bittrex deposits are still not working!
Cryptsy wallet is offline!

The more people write to them the better chances of a faster solution (well not Craptsy, they always suck)

I hear some good news on YACUNA, hope this helps the price

[reb0rn21]

@king_pin
I see you are expert and moan all the time... cryptsy wallet need to be updated (which it is) and need to download blockchain (which is reported that is now in progres) I bet for you all that look like 5min job

[king_pin]

And I bet that Craptsy wont be "online" anytime soon. Hope I am wrong.
I still haven't received a satisfying answer to my previous question about the Hashrate.
Come on the UTC devs. are just about to earn a +1 point in my book. 

[Thirtybird]

@Thirtybird and reb0rn21
I just love it when NOOBS try to explain things to me.

lol, then please explain it to me- share your kingpiny wisdom - with 20 rigs, I'm sure you know all!

I still haven't received a satisfying answer to my previous question about the Hashrate.

So, make one up and tell us how it is

[usukan]

Cryptsy Support reply - only 10 mins after query. Well I can't withdraw but thats snappy support at least.

Thank you for contacting Cryptsy.
Currently UTC is offline for maintenance.
Please know that your coins are safe, and should be returning soon.
Thank you kindly for your patience and understanding.
Have a great day!


Sincerely,
Phoebe
Cryptsy.com

@Thirtybird and reb0rn21
I just love it when NOOBS try to explain things to me.


Bittrex deposits are still not working!
Cryptsy wallet is offline!

The more people write to them the better chances of a faster solution (well not Craptsy, they always suck)

I hear some good news on YACUNA, hope this helps the price

[Beave162]

@Thirtybird and reb0rn21
I just love it when NOOBS try to explain things to me.

This made me laugh. Where do you think UTC would be without ThirtyBird? It would be PoS only is my guess.

I'm surprised there was absolutely no push-back to the 60 second block time change. It was finally realized that 30 seconds causes orphans even at a pretty high relative percentage of the hashrate for a pool. But wasn't 30 seconds the selling point of UltraCoin being 'UltraFast'? What is the identity of UltraCoin now?

[rapture333]

@Thirtybird and reb0rn21
I just love it when NOOBS try to explain things to me.

This made me laugh. Where do you think UTC would be without ThirtyBird? It would be PoS only is my guess.

I'm surprised there was absolutely no push-back to the 60 second block time change. It was finally realized that 30 seconds causes orphans even at a pretty high relative percentage of the hashrate for a pool. But wasn't 30 seconds the selling point of UltraCoin being 'UltraFast'? What is the identity of UltraCoin now?

As far as the philosophy behind the change from 30 seconds to 60 seconds, the decision was made mostly to trump orphans and blockchain bloat, especially with the effects that higher N-Factors have with the increased time it takes to sync the chain. In practice, 60 seconds is still very fast, especially compared to Bitcoin and even Litecoin, but on par with Dogecoin. In practice, a cash transaction of 30 seconds is typically too long for people to be waiting at checkout, but it does work for most services like eating out, ordering a pizza, buying a car, or what have you. However, let's say you wanted to buy a soda from a soda machine, 30 seconds, while it might not seem like much, is still a long time to wait before you are able to actually receive your drink. In the future, third parties will most likely take over in this segment and offer some form of instantaneous payments with cryptocurrencies. We believe that the difference between 30 to 60 seconds is unsubstantial in the long run, and the decrease in orphans and increase in network security far outweighed the costs. Ultracoin is based on Scrypt-ChaCha, which is a small market that puts us in a league of our own, and we are also supported by a great team, with great partners, and excellent media and event exposure that other coins simply don't get. Of course, we will continue to explore other niches that Ultracoin may fit in to in the future, such as a the minecraft plugin, but our main priorities will always be bound by out philosophy, that it, a stable, accepted and supported cryptocurrency. And of course, zero-confirmation transactions take only 6 seconds, so you can always see incoming transactions immediately, just like temporary authorizations on a bank account!

Regards,

Steven "Rapture"
Management Director
Steven@Ultracoin.net

[Janu$$]

Next step, we are paid for and set to attend the North American Bitcoin Conference! I look forward to seeing you there, and if you can't attend, please consider donating towards marketing materials:

Donation addresses:

Bitcoin: 19dWfL9cbBzuX3At3iaAjzatwhHCBb4xNT
Ultracoin: UmEXXKb8inVTseVoRqfgy6jEVNA84JMmPb

Sincerely,

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

Hi Steven,

I am happy to donate again 0.1 BTC for the next conference.
Thanks to the whole Ultracoin Team that is doing an awesome job.

Regards,
Janus

[Beave162]

@Thirtybird and reb0rn21
I just love it when NOOBS try to explain things to me.

This made me laugh. Where do you think UTC would be without ThirtyBird? It would be PoS only is my guess.

I'm surprised there was absolutely no push-back to the 60 second block time change. It was finally realized that 30 seconds causes orphans even at a pretty high relative percentage of the hashrate for a pool. But wasn't 30 seconds the selling point of UltraCoin being 'UltraFast'? What is the identity of UltraCoin now?

As far as the philosophy behind the change from 30 seconds to 60 seconds, the decision was made mostly to trump orphans and blockchain bloat, especially with the effects that higher N-Factors have with the increased time it takes to sync the chain. In practice, 60 seconds is still very fast, especially compared to Bitcoin and even Litecoin, but on par with Dogecoin. In practice, a cash transaction of 30 seconds is typically too long for people to be waiting at checkout, but it does work for most services like eating out, ordering a pizza, buying a car, or what have you. However, let's say you wanted to buy a soda from a soda machine, 30 seconds, while it might not seem like much, is still a long time to wait before you are able to actually receive your drink. In the future, third parties will most likely take over in this segment and offer some form of instantaneous payments with cryptocurrencies. We believe that the difference between 30 to 60 seconds is unsubstantial in the long run, and the decrease in orphans and increase in network security far outweighed the costs. Ultracoin is based on Scrypt-ChaCha, which is a small market that puts us in a league of our own, and we are also supported by a great team, with great partners, and excellent media and event exposure that other coins simply don't get. Of course, we will continue to explore other niches that Ultracoin may fit in to in the future, such as a the minecraft plugin, but our main priorities will always be bound by out philosophy, that it, a stable, accepted and supported cryptocurrency. And of course, zero-confirmation transactions take only 6 seconds, so you can always see incoming transactions immediately, just like temporary authorizations on a bank account!

Regards,

Steven "Rapture"
Management Director
Steven@Ultracoin.net

I still wish you would stop with the '6 seconds' as it seems completely arbitrary. From what I have read (http://eprint.iacr.org/2012/248.pdf), bitcoin is <3 seconds for a zero-transaction transfer, so UltraCoin is slower than Bitcoin? Also, 1 confirmation is meaningless for transfers, i.g. what crypto payment processor relies on 1 confirmation?

Yes, it does solve some orphans issues, but it isn't a complete slam dunk. It would have been interesting if Kracko made it 2 min or more... scrypt-chacha does deserve a lot more attention and credit, I agree.

[Janu$$]

Hi.

I need your help. I am mining for 24 hours solo with yacminer on five Radeon 280X cards with roundabout 20kH/s and I haven´t got any accepted share not even an orphan. Before I mined solo with ultracoin miner for 24 hours. That gave me a couple of hits (of course unfortunately all orphans:( ).
My question:
I read about the diff<1 problem with yacminer. Yacminer(cgminer.exe) indicates a diff of 3.1k at the moment and ultabex.tumlingblock.com indicates a difficulty of 0.112.
Is the "diff<1" (integer datatype) problem most likely the reason that I don´t find even one block with yacminer and so UTC can not be mined solo with yacminer as long as the diff is lower than 1?

Regards,
Janus

[Kestrel71]

Looking at the prices on cryptsy who is going to pay 500 satoshi more then the 1st legitimate offer at the 7900 mark? I am all for bots but any person with a brain can see that the prices are clearly hiked up by stupid bots who push and push the price higher to try and get people/noobs to buy in.
I don't know who owns the bots but please use what little brain you have and make it a bit more subtle as people just wont buy into that stupidly hiked up price.

You want UTC to triumph? so far it is a major fail with such stupid bots that are just putting people off from buying into UTC.

[Valpe]

Hi.

I need your help. I am mining for 24 hours solo with yacminer on five Radeon 280X cards with roundabout 20kH/s and I haven´t got any accepted share not even an orphan. Before I mined solo with ultracoin miner for 24 hours. That gave me a couple of hits (of course unfortunately all orphans:( ).
My question:
I read about the diff<1 problem with yacminer. Yacminer(cgminer.exe) indicates a diff of 3.1k at the moment and ultabex.tumlingblock.com indicates a difficulty of 0.112.
Is the "diff<1" (integer datatype) problem most likely the reason that I don´t find even one block with yacminer and so UTC can not be mined solo with yacminer as long as the diff is lower than 1?

Regards,
Janus

Why you are solo mining? It much better in pool.

[Thirtybird]

Hi.

I need your help. I am mining for 24 hours solo with yacminer on five Radeon 280X cards with roundabout 20kH/s and I haven´t got any accepted share not even an orphan. Before I mined solo with ultracoin miner for 24 hours. That gave me a couple of hits (of course unfortunately all orphans:( ).
My question:
I read about the diff<1 problem with yacminer. Yacminer(cgminer.exe) indicates a diff of 3.1k at the moment and ultabex.tumlingblock.com indicates a difficulty of 0.112.
Is the "diff<1" (integer datatype) problem most likely the reason that I don´t find even one block with yacminer and so UTC can not be mined solo with yacminer as long as the diff is lower than 1?

Regards,
Janus

If you are solo-mining UTC, the difficulty < 1 issue should never even come into play (unless the coin is dead).  As you pointed out, it was registering as 3.1K in your miner - the issue arises when vardiff on pools generate non-integer difficulties for the miner.  Your problem is that you just didn't find any shares over the target difficulty, which seems pretty unlikely, though possible given the very swingy difficulty.

[king_pin]

@Kracko
I see that the difficulty is still Jumping up and down like a rabbit. And it does reflect profitability, but I agree things are better.
I also see that your fork as almost ZERO effect on Orphans.

Besides your explanation of Phantom miners coming and going, and fictional Solo miners being true...
Why were we forking again?

OH, yeah to give Stake holders more profit
Just admit that the dev. team holds HUGE amounts of UTC and wants to make more money out of it.