Author

Topic: [ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink - page 129. (Read 297741 times)

member
Activity: 90
Merit: 10
The consensus thus far seems to be 188 coins/block - we'll continue to process feedback for another 12 hours or so and then lock in the final decision in the morning. There is a division within the OctoCoin team on the topic which is why we are looking to you guys to help us make the call. Since we will need to hard fork things anyway, we will also make some tweaks to the difficulty adjustment formula. While I believe the current formula has served us well and tweaking it wasn't worthy of a fork on its own, we might as well make the adjustments we want while we have the opportunity. There have been a lot of requests for implementation of KGW but, based on our calculations and testnet runs, we have determined there are better options for a more consistent network.

We will try to get the updated client out tomorrow; keep in mind, however, that the fork will not actually occur until block 68,888. Also, just to clarify, this will have no effect on the total number of coins or how soon we get there. We have received more than one enquiry on the topic and wanted to ensure this point is clear. The only change to the distribution is that the remainder of the bonus blocks period will be modified to a static 188 coins/block with no bonus blocks - this averages out to be the same number of coins and is just a slightly different method of distribution. Every consistent miner will be rewarded by this change and the only miners that will be negatively affected are the coin-jumpers that are exploiting the bonus blocks. We apologize for not noticing and addressing this "exploit" sooner but, as they say, better late than never. We can take solace in the fact that the majority of miners exploiting the 888 bonus blocks are likely dumping their coins as the blocks mature meaning they are selling well below even the short-term value projections.
188 coins/block... I have been mining Octo since launch and while I do not totally understand the situation I do know that hard forks can cause a loss of coins. I love this coin and this community, I certainly would hate to lose any that I have spent time and power mining. Thanks.
sr. member
Activity: 378
Merit: 250
Yessir.
by the way, can anyone actually list the +/- of each decision?

most users hear the word hard fork and freak.

what's the advantage of the +188 blocks over a fork that just gets rid of the bonus blocks?
sr. member
Activity: 378
Merit: 250
Yessir.
sr. member
Activity: 266
Merit: 250
my vote is for the 188 block reward..... stay steady.

great jobs devs... when things really need to be addressed you guys are always on the ball.

+888
sr. member
Activity: 378
Merit: 250
Yessir.
my vote is for the 188 block reward..... stay steady.

great jobs devs... when things really need to be addressed you guys are always on the ball.
sr. member
Activity: 378
Merit: 250
Yessir.
Here are a couple of examples in full size (800 px)




I have them made in 800px, 468px, 240px and 180px widths. See them all at http://garycalvert.com/octo You can save them individually or there is a zip file download link with all the images.

Enjoy!

awesome!
hero member
Activity: 546
Merit: 501
Good deal, thanks for testing it out Jaggedminer!

And the new update sounds nice! I hope the nasty payout issues have been resolved, since this is going to be a mandatory update XD

Thanks for doing this, though, because the whole superblock/multipool issue is pretty discouraging. Hopefully this will thwart it.
legendary
Activity: 2394
Merit: 1216
The revolution will be digital
How many OctoCoin I can have against 0.1 BTC ?
member
Activity: 164
Merit: 10
FYI, we have asked Cryptsy to refrain from taking BTC donations for OctoCoin votes temporarily (you may have noticed we're one of the few coins without a BTC donation address). Feel free to vote and/or use Cryptsy points to improve exposure but we want to ensure all ducks are in a row before we get listed - the upcoming client and subsequent hard fork are the primary remaining hurdles.
full member
Activity: 167
Merit: 100
Here are a couple of examples in full size (800 px)




I have them made in 800px, 468px, 240px and 180px widths. See them all at http://garycalvert.com/octo You can save them individually or there is a zip file download link with all the images.

Enjoy!
member
Activity: 164
Merit: 10
The consensus thus far seems to be 188 coins/block - we'll continue to process feedback for another 12 hours or so and then lock in the final decision in the morning. There is a division within the OctoCoin team on the topic which is why we are looking to you guys to help us make the call. Since we will need to hard fork things anyway, we will also make some tweaks to the difficulty adjustment formula. While I believe the current formula has served us well and tweaking it wasn't worthy of a fork on its own, we might as well make the adjustments we want while we have the opportunity. There have been a lot of requests for implementation of KGW but, based on our calculations and testnet runs, we have determined there are better options for a more consistent network.

We will try to get the updated client out tomorrow; keep in mind, however, that the fork will not actually occur until block 68,888. Also, just to clarify, this will have no effect on the total number of coins or how soon we get there. We have received more than one enquiry on the topic and wanted to ensure this point is clear. The only change to the distribution is that the remainder of the bonus blocks period will be modified to a static 188 coins/block with no bonus blocks - this averages out to be the same number of coins and is just a slightly different method of distribution. Every consistent miner will be rewarded by this change and the only miners that will be negatively affected are the coin-jumpers that are exploiting the bonus blocks. We apologize for not noticing and addressing this "exploit" sooner but, as they say, better late than never. We can take solace in the fact that the majority of miners exploiting the 888 bonus blocks are likely dumping their coins as the blocks mature meaning they are selling well below even the short-term value projections.
newbie
Activity: 29
Merit: 0
If it goes to 188 for every block, does that increase the total coins for octocoin? Or does it keep the total coins the same and shorten the length of the bonus block phase? Or something else?

Edit: or was 188 the expected average now? If so, maybe changing to that means no change in the total coins for octo?

Essentially the latter I believe, mathematically the average block reward for this phase should be 188 so the total coin distribution would remain the same.  It would just be a more equitable distribution for the remainder of this phase than it has been recently and would only hurt pools/farms who are throwing hash at the network whenever a bonus block is due.

OK cool, that makes sense to me now. Seems like a good way to go for the rest of the bonus phase.
full member
Activity: 208
Merit: 100
I say screw the hoppers and take the option that rewards your loyal miners  Smiley if this upsets someone, they probably only care for profit and not the coin itself.
sr. member
Activity: 344
Merit: 250
ALL IN!

So now we can vote for (at least) 4 5 exchanges:

Cryptsy - https://www.cryptsy.com/coinvotes
MintPal - https://www.mintpal.com/voting
Comkort - https://comkort.com/vote
Swaphole - https://www.swaphole.com/#!voting
ShareXcoin - https://bitcointalksearch.org/topic/annexchange-sharexcoincom-sharing-its-revenue-to-the-community-598531

Vote, vote, vote, vote... and vote again!

There are a lot more people taking notice of 888. I've stumbled across conversations in the trollbox at Polo and other exchanges. There seems to be several early miners who are holding their coins... awaiting for further development and bigger exchanges. Most have positive things to say about OctoCoin's future.

On another note... Would anyone be interested in some OctoCoin Accepted Here/Donate OctoCoin buttons/banners or maybe an animated promo video? I could put something together this afternoon if there is interest. The banners/buttons would be easy as I have been experimenting with creating some for some of the sites that I own.


Even though I don't mine... the static 188 block reward seems to me the best option. Just my 2 cents worth...

+888

Yeah, some banners and buttons would be nice!  Smiley
full member
Activity: 167
Merit: 100

So now we can vote for (at least) 4 5 exchanges:

Cryptsy - https://www.cryptsy.com/coinvotes
MintPal - https://www.mintpal.com/voting
Comkort - https://comkort.com/vote
Swaphole - https://www.swaphole.com/#!voting
ShareXcoin - https://bitcointalksearch.org/topic/annexchange-sharexcoincom-sharing-its-revenue-to-the-community-598531

Vote, vote, vote, vote... and vote again!

There are a lot more people taking notice of 888. I've stumbled across conversations in the trollbox at Polo and other exchanges. There seems to be several early miners who are holding their coins... awaiting for further development and bigger exchanges. Most have positive things to say about OctoCoin's future.

On another note... Would anyone be interested in some OctoCoin Accepted Here/Donate OctoCoin buttons/banners or maybe an animated promo video? I could put something together this afternoon if there is interest. The banners/buttons would be easy as I have been experimenting with creating some for some of the sites that I own.


Even though I don't mine... the static 188 block reward seems to me the best option. Just my 2 cents worth...
legendary
Activity: 1484
Merit: 1000
What is happening here?  Roll Eyes
Btw, i managed to recover coins from my broken wallet and transfer them to a fresh wallet with the help of a new wallet, thanks a lot for update Cheesy
newbie
Activity: 4
Merit: 0
dev,I will be keeping track of you.
newbie
Activity: 19
Merit: 0
Great job 888 Team! your hard work is reflected in the recent price hike. Keep up the good

work!
newbie
Activity: 29
Merit: 0
If it goes to 188 for every block, does that increase the total coins for octocoin? Or does it keep the total coins the same and shorten the length of the bonus block phase? Or something else?

Edit: or was 188 the expected average now? If so, maybe changing to that means no change in the total coins for octo?
Jump to: