This Difficulty Retarget Problem
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[quote name=“Nutnut” post=“2154” timestamp=“1368192063”]
Until the hardware is paid for, it’s all a loss. The longer it takes to recover the costs the less the resale value on kit is so the loss gets bigger.Would you go to work for £100 per day when someone else was offering you £200 per day for [b]exactly[/b] the same job? Both would be profitable but i bet my shirt you’d take the £200 option? If not you’re bonkers!
FTC needs more than my hashing power to succeed.
[/quote]Fair do’s I must admit I was overlooking the initial outlay, but surely if I have paid my £500 outlay back with 1.3mH/s you must be well on your way?
And FTC needs a damn sight more than mine, I know that lol :) -
[quote name=“Nutnut” post=“2154” timestamp=“1368192063”]
Until the hardware is paid for, it’s all a loss. The longer it takes to recover the costs the less the resale value on kit is so the loss gets bigger.Would you go to work for £100 per day when someone else was offering you £200 per day for [b]exactly[/b] the same job? Both would be profitable but i bet my shirt you’d take the £200 option? If not you’re bonkers!
FTC needs more than my hashing power to succeed.
[/quote]The hardware I can understand
You’re example about the job is wrong, cryptocoin has a market price that isn’t stable so you can’t know if you’re gonna profit as predicted.
The job offer you give has a fixed and determined price at the beginning, so you know what to pick.Miners are directly responsible for the long confirmations of Feathercoin now and so the price has dropped.
By not overmining coins you can keep em viable and still make a decent profit.I can’t tell you that you can make 200 profit in 1 week or 200 loss but so can’t you because you can’t predict the exchange market
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Do I really have to allow incoming connections? I always thought that’s only a [i]bonus[/i] (to get more, like, 8 connections).
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[quote name=“Nutnut” post=“2157” timestamp=“1368192434”]
How many of you have your wallets open and incoming connections permitted?
[/quote]I usually just open on as is needed basis, what is best?
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[quote name=“UKMark” post=“2151” timestamp=“1368191429”]
I would not mine at a loss, but I would mine for less profit, …
[/quote]For [i]how[/i] much less profit would you mine? Where do you draw the line?
Next “obstacle”: Why mine FTC today when it’s [b]already foreseeable[/b] that it’s 7 times faster in 3 (4? 5?) weeks?
Actual difficulty: 188
Next estimated difficulty: 27 -
[quote name=“Radacoin” post=“2162” timestamp=“1368193009”]
Next “obstacle”: Why mine FTC today when it’s [b]already foreseeable[/b] that it’s 7 times faster in 3 (4? 5?) weeks?
Actual difficulty: 188
Next estimated difficulty: 27
[/quote]Because if we don’t mine it you’ll never reach the retarget @ 2016 blocks
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[quote name=“Armandoke” post=“2163” timestamp=“1368193258”]
[quote author=Radacoin link=topic=305.msg2162#msg2162 date=1368193009]Next “obstacle”: Why mine FTC today when it’s [b]already foreseeable[/b] that it’s 7 times faster in 3 (4? 5?) weeks?
Actual difficulty: 188
Next estimated difficulty: 27
[/quote]Because if we don’t mine it you’ll never reach the retarget @ 2016 blocks
[/quote]I don’t believe in altruism.
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[quote name=“Radacoin” post=“2164” timestamp=“1368193648”]
I don’t believe in altruism.
[/quote]Then explain the remaining Feathercoin miners in the different pools / solo mining.
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[quote name=“Armandoke” post=“2165” timestamp=“1368193803”]
Then explain the remaining Feathercoin miners in the different pools / solo mining.
[/quote]I prefer not to ;)
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as said, we will never agree (little miners vs big miners) so I think it’s time to stop this argument.
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It’s my belief that if you keep the port forwarded and your wallet open, you are then another node that can process confirmations on the network.
Armondoke - You seem to be bearing a grudge against miners and clearly want to start an argument with me because i mine. You haven’t contributed anything constructive to this thread you are simply dragging it down to petty sqaubbles. As for my example of a job - all crypto currency profitability charts are based on an exchange rate with the master (BTC) currency and i can quite clearly see which one is making me more money now. It may be volatile but if i wanted, i could exchange it all for BTC and in turn GBP which IS stable(ish).
I’m trying to [b]help[/b] the community and [b]HINDER[/b] miners from causing difficulty bounce but it’s people like you that make me think why bother. This will be my last response to any of your posts unless it’s constructive.
UKMark - i admire your loyalty. As for repaying my costs - i currently make around £70/day after leccy costs etc, the kit is a month old and ALL difficulties are rising. I’m still about £6000 short so it’s important to make hay while the sun shines.
I’m not going to sit and defend myself anymore. If you want to turn me into a hater then so be it. If not then lets come up with a solution to make ftc not only an ASIC resistant coin but also a coin hopping resistant coin. Once thats achieved we WILL have a successful coin.
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not bearing a grudge and as stated in my post just above yours we’re 2 different type of miners, and that’s why I will stop posting about that part.
I didn’t want to come over as dragging it down and apologise for that. -
[quote name=“Bushstar” post=“2135” timestamp=“1368186969”]
If we went for a 504 difficulty adjust we need to work out how much the difficulty will be adjusted. We do not want the overall effect to be drastically different, we want to end up with a more fine grained difficulty adjust. I have made a couple of rough tables below comparing the difficulty value when it goes up.Normal difficulty adjust
0…2016 Block count
4 …16 Difficulty going up 400%504 difficulty adjust
0…504…1008…1512…2016 Block Count
4…5.6…7.84…10.96…15.36 Difficulty going up by 140%
4…6…9…13.5…20.25 Difficulty going up by 150%
4…8…16…32…64 Difficulty going up by 200%
4…16…64…256…1024 Difficulty going up by 400%
[/quote]I like the 140% scheme.
I think it’s really necessary that we do this ASAP. There are two important goals:
1. Adjust the difficulty ASAP
2. Don’t allow the difficulty drop to something like 27 after the adjustment which may again unstabilize the market and set the stage for another big swing in difficulty.Your proposed scheme can help us reach both these goals.
I don’t believe we can just sit here and wait this one over, that would probably be more than a month’s wait. It happened with FRC, but things have changed. We have new alt-coins coming out everyday now, we either proceed or be abandoned. With such a low hashrate and long transaction time, even if we can escape a 51% attack, the coin will still be basically dead (unusable) in the coming month.
No merchant will accept a coin in such a shape.
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Lots of talk about the miners.
Miners need to make money, you will have no miners until then.You need to pump up the currency and all your issues go away.
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[quote name=“Radacoin” post=“2164” timestamp=“1368193648”]
[quote author=Armandoke link=topic=305.msg2163#msg2163 date=1368193258]
[quote author=Radacoin link=topic=305.msg2162#msg2162 date=1368193009]Next “obstacle”: Why mine FTC today when it’s [b]already foreseeable[/b] that it’s 7 times faster in 3 (4? 5?) weeks?
Actual difficulty: 188
Next estimated difficulty: 27
[/quote]Because if we don’t mine it you’ll never reach the retarget @ 2016 blocks
[/quote]I don’t believe in altruism.
[/quote]Investment is not altruism. Stop trying to be so edgy. Oh look at me I’m driving in the fast lane. Yeah and running down your engine.
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[quote name=“CptAwesome” post=“2175” timestamp=“1368195350”]
Lots of talk about the miners.
Miners need to make money, you will have no miners until then.You need to pump up the currency and all your issues go away.
[/quote]Miners need to start charging fees and providing service. Miners don’t need to make money. Only the paranoid need money. Miners need to start building businesses and communities.
All you wankers want someone else to do the work for you.
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Come on guys, no need for anyone to get too serious. As long as no one here is against Feathercoin all is good :) Besides Bushstar is working on a fix… it just takes a little time as it did with TRC back when it had this problem
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[quote name=“zerodrama” post=“2177” timestamp=“1368195730”]
[quote author=CptAwesome link=topic=305.msg2175#msg2175 date=1368195350]
Lots of talk about the miners.
Miners need to make money, you will have no miners until then.You need to pump up the currency and all your issues go away.
[/quote]Miners need to start charging fees and providing service. Miners don’t need to make money. Only the paranoid need money. Miners need to start building businesses and communities.
All you wankers want someone else to do the work for you.
[/quote]You have no currency without the miners. We do charge, we charge in coins, coins worth money, if they are worthless, we don’t.
Miner’s dont need to start building shit, we are the foundation of your business. Please try and build it without us. OH RIGHT! that’s the issue you have right now, you are up shit’s creek without us.
Stop being a troll.
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[quote name=“CptAwesome” post=“2180” timestamp=“1368195907”]
[quote author=zerodrama link=topic=305.msg2177#msg2177 date=1368195730]
[quote author=CptAwesome link=topic=305.msg2175#msg2175 date=1368195350]
Lots of talk about the miners.
Miners need to make money, you will have no miners until then.You need to pump up the currency and all your issues go away.
[/quote]Miners need to start charging fees and providing service. Miners don’t need to make money. Only the paranoid need money. Miners need to start building businesses and communities.
All you wankers want someone else to do the work for you.
[/quote]You have no currency without the miners. We do charge, we charge in coins, coins worth money, if they are worthless, we don’t.
Miner’s dont need to start building shit, we are the foundation of your business. Please try and build it without us. OH RIGHT! that’s the issue you have right now, you are up shit’s creek without us.
Stop being a troll.
[/quote]You are the foundation of SCAM. You are nothing. I am the last person you want to challenge in a business development race. :)
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(sigh) Starting to sound like the bitcointalk forums lol
