Changing the hashing algorithm
-
it’s a shame rate of release can’t be tied to some form of community health indicator. But I guess there isn’t one that would be suitable or reliable.
-
Yes that would be good, but I’m guess something very technically hard to do.
I did think you could tie that into coin spend, but that wouldn’t work as a healthy cyrpto economey would have a raesonable amount of coin spend, but then a crashing one would have an even bigger spend as everyone tried to cash out.
Another indicator would be the number of wallets online.
In a declining coin economy there would not be many wallets online as most people would transfer it all to exchanges, but a healthy one would have a lot of wallets online as people made transactions.
The big downside of having coin production dropping though is it would turn away miners, lowering the hashing power and so lower security of the network.
I think trying to teak it all to keep everything working would be like balancing a ball on your noise, whilst riding a unicycle on a tight rope though. This makes all for good discussion, but not sure if it would be possible to implement.
-
You wouldn’t want something that could be tampered with. if it was number of active wallets, you could inflate it by having your 1000 FTC kept in 1000 addresses or smaller decimals, at least until your transaction fees ate your money.
-
Yes that was something I wasn’t even thinking about, couldn’t use a system that could be abused, and just about all of them can be…
-
Maybe you need a centralised organisation, to help control the release of money, encourage spending by inflating and devaluing your money and discourage/encourage saving using a controllable rate to stimulate the economy. Oh wait…
Sorry :-X ^-^ ^-^
-
+1
it is to fast now
But isn’t the whole point of changing the algorythm to slow that down V’s the asics for a while?
Finish the job and wait, sounding impatient there Mirrax ;)
-
Maybe you need a centralised organisation, to help control the release of money, encourage spending by inflating and devaluing your money and discourage/encourage saving using a controllable rate to stimulate the economy. Oh wait…
Sorry :-X ^-^ ^-^
LOL,
Can you hear that sound?
That’s mob coming up the hill to flay you for even suggesting it in jest.
-
I felt dirty just writing it. :)
-
But isn’t the whole point of changing the algorythm to slow that down V’s the asics for a while?
The pace of the coins release was set when ftc launched. The algo change isn’t to try control the rate of the coins release as much as it’s to control the distribution of mining power.
-
So, would it be an idea to start a competition based around P2p nodes and spreading hash rates?
Obviously when everything settles down a little after switch
Thanks for clarification Calem
-
But isn’t the whole point of changing the algorythm to slow that down V’s the asics for a while?
Finish the job and wait, sounding impatient there Mirrax ;)
yes impatient and overexcited at the same time :)
Just can’t stop it with so much great development here…
-
yes impatient and overexcited at the same time :)
Just can’t stop it with so much great development here…+1
-
Switched the PXC testnet to NeoScrypt: phoenixcoin-win64-0.6.6.0t.zip (Wallet + CPUminer, Windows 64-bit)
Solo mining works very well. P2Pool seems to work, but doesn’t count all shares, though submits all blocks found. Needs more work probably. Anyone well versed in Python to take a look?
Pool 1 (Amsterdam)
Pool 2 (Los Angeles)Testnet block explorer in case you need it. NeoScrypt is after block #3600.
-
Roughly how long you going to run the testnet? all weekend at least?
Busy today, but I can throw the 270’s at it tomorrow
-
This testnet runs since November of 2013. No GPU miner at this moment. Use your CPUs.
-
For numpties like me to mine on the pool I’m assuming we just use the mining in the wallet.
For the LA server I’m guessing we use
port 20554
for username the wallet address and can we just leave password blank?
-
Solo mining is working for me, already found 2 blocks other than letting my CPU mine it for a while, is there any other help I can do?
-
For the LA server I’m guessing we use
menoetius.phoenixcoin.org
port 20554
for username the wallet address and can we just leave password blank?Yes. Blank or whatever. You can also use “Pool Mining” for solo mining (server = http://127.0.0.1, port = 19554, username and password = what you have in phoenixcoin.conf). There will be a difference in performance though.
The wallet uses the reference C code for its solo miner. CPUminer (minerd) is powered by the SSE2 assembly code. It is also used for pool mining by the wallet. Try both and report your KH/s. For example, my 3GHz 4-core A8-3870K delivers 10KH/s using the built-in miner and 8KH/s using CPUminer (yes, it’s slower in my case).
-
I’m really excited about this new development but its not exactly being shouted from the rooftops…reddcoin seem to have an update every day through social medias.
Its getting people excited as you’ve probably noticed…saying that…I can’t help…had a chat with some locals about feathercoin in my sleepy German village pub…went down like a lead balloon…
Think they were more interested in winning the world cup…a joke one of them told me…what’s the difference between the English national team and a tea bag…the tea bag stays in the cup longer…
anyway…I’m waffling…good work fellas
-
it’s a shame rate of release can’t be tied to some form of community health indicator. But I guess there isn’t one that would be suitable or reliable.
Not exactly what you’re looking for I’m sure, but I use Coingecko as a “community health indicator”.
