Topic: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!! - page 287. (Read 946650 times)

I am mining in http://ultra2.nitro.org/ but the hashrate is 0 can someone help me?

I have a 7950 and my config is:

finally, some actually specifics with regards to a plan and a solution to the rapidly increasing N-factor.  If a POS change goes in soon, almost everything I thought needed to happen will have.  

I really think you should consider changing the POS to a lower rate again, especially in light of the arbitrage strategy.  


On a side note, I logged into my Cryptsy account for the first time in a few weeks and it says I have a -500 UTC balance and won't let me withdrawal any other coins until I correct this.

Has anyone else ever had this happen on Cryptsy?  I don't know how I would get a negative balance.  

Hi Michael,

Nice to see your face and also that you put yourself forward to promote the coin. This is a strong statement, congrats for having made the step forward.
You ain't got a doge face at all...
Transparence is definitely something that stands out and helps out, and the strategy you started drafting seems promising.
The arbitrage vessel is kind of unexpected but definitely makes a lot of sense now. This is a very clever way of putting forward transaction speed.
Hopefully this will have a positive effect on the price, although I would not be surprised to see exchanges slowing down transfers at some point to avoid being attacked. Let's see how it goes. I already had a taste of this medicine while moving some UTC between exchanges.

And now that block reward is about to fall down to 20 and N factor becomes slower, those who did not dump their coins are going to get what they worked for.
Altogether this will motivate people not to dump because there will be this effect about how it was easy before.
So normally they should try to pay attention for the most.
Obviously there's still going to be the inevitable dumping part in the future anyway.

Now we've got to get into this top 5, meaning market cap should get above 70k BTC. This is not a weekend project, knowing we currently stand at around 1500 BTC. This represents a 50 fold increase as of today.
If we want to achieve this in under 3 years, this represents an increase factor of 3.6-4 per year = 1.11% organic growth per month in addition to the growth rate of the slowest top 5 growing coin.
But let's keep in mind that the top 5 is also fast paced, faster than the rest of the coins.
The 2 main contenders are ripple or doge. You know the challenge now.
We might have to increase market cap by 2-3% or more per month.
That's a challenge, because we have to both attract people and make people use their coins without dumping them altogether.
So again, play on the savings part of the coin. I have my personal questions about UTC PoS model, because 20% per year seems really a lot, but we'll see the effect in 1 year time.

If we are to start now this means that next month we should regain 300-450 BTC in market cap and going from 1500 to 1800-2000 BTC.
I believe this can be achieved both because BTC crash will soon be over, and also because we can market more efficiently this coin thanks to your work.
But mind the other coins as well, because they will recover.


Take care,
az.

Sorry but that's a bunch of crap.

I can mine all n factors just fine on gpus that are out NOW.
Even more so, higher n factors start to normalize hashing power between devices of different price ranges so in the end it's better for descentralization, takes the power away from the huge scrypt farm operators and back into the little guy with a cpu and a bunch of cheaper gpus. (at least till the big guys start to figure out they need different hardware for optimal results).

Your statements are not correct, and I can prove them wrong really easily, at least on the hardware side.
Yac has been around for a long time now, and it has battled the insta-mine burden for a while, lots of negative press...but it's still a pretty solid coin, and excellent for small time miners.

"-have no long-term network security" -> this just got invalidated. Anyone can solo mine a coin with higher n factors, at least way easier than solo mining a scrypt coin or something like vertcoin which attracted all the farm dudes of the world (they are all lazy and have tons of outdated hardware at their disposal).

TC 16384 and I 12 should work. I've never tried gpu-powetune -20. I use 20. The rest of your arguments look OK. If restarting your computer with those settings doesn't work then I have no other suggestions other than try 20 instead of -20

Nfactor is not implemented to be GPU resistant but ASICS resistant, the way Nfactor is implemented in UTC is a bit too quick for the coin's long term popularity. Remember this coin as well as other anti ASICS coins are supposed to benefit from the migration of GPU miners quitting LTC and other Scrypt based coins. The benefit would come with increased hashrate without the ability of ASICS to control the mining process. However, there is no delay as far as I see for the next Nfactor as that hardfork is not ready yet. So I am afraid we still need the skills of Untalented on this upcoming Nfactor to give us the best settings  
I am glad to hear about the new upcoming update, hopefully we won't have to deal the skewed hashrate we have now. I am also interested in knowing if the PoS implementation in UTC will be left as is? will there be an adjustment? as it stands now, UTC destroys fees for PoS which in reality can not be collected. I am not a fan of PoS, but this is a PoS coin, I think if you decide to fix PoS you need to account for that in the total coins generated, also there needs to be a coin control implemented. Maybe put the PoS time period on a community vote.

do you know that the italian translation is a google translation?

Tried no luck and thaks for your reply

Excellent work, meeting and update!!  Very nice to see all the plans moving forward.  Also it was nice to put a face to the bum;  as it were.




The change was made to not follow the same fate as Yacoin.  There is absolutely no reason to increase N to such high levels so fast.  I guess thirtybird gave one "I was looking forward to seeing how your momentum did when people had to figure out how to mine at N=13 and 14"   not sure I would want to design a coin "just to see if you could mine it".  Higher N factors hurt network security more than a concern of miners dumping a few coins.  Also, keeping lower N's will allow a larger base instead of just "keep dedicated miners onboard."

UTC does not want to follow the detrimental path Yacoin is on and stuck with.  Verification of this can be seen here:  http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=yac-btc&market=cryptsy

You guys seem to want UTC to:
-Drive away miners
-Perpetually loose value rather than increase
-Run N factors that are resistant to devices that won't be produced for years if not a decade. (n 14-15)
-have no long-term network security


If we wanted these aspects there is always Yac..........

Nice write up Michael

At what block will the reward change to 20?

Will the current nfactor stay for 2 years more? Or will it change tonight as planned and stay at nfactor 12 for 2 years instead of 49 days?

Can't please everybody. How would higher n factors make any difference to "dedicated miners"?

That sounds pretty bad to me...rolling back n factor ugh.

Whatever, I hope it helps increase popularity but that kills it for me. I think it'll introduce a new generation of dumpers that won't give a dang for the coin, whereas higher n factors would keep dedicated miners onboard.

The nfactor changes was going to fast to early

We need to be able to take ppl in july that gpu mine

And the way UTC was going that would'nt happen.

So bumface is rolling back to an earlier nfactor or just increasing the time before the next changes happen

Try lookup-gap 0 and then restart your computer then restart the miner.

Where does it say 2 more years?

Excellent news, except for this part: "-N factor delay (at least 2 more years of GPU mining)"

WHAT!?

What exactly does that mean? I can gpu mine coins well into n factor 15...come on!

Please welcome http://www.cryptokk.com/ and https://www.europex.eu/ to the Ultracoin family!!

Add the highlighted part at the beginning of your bat file and remove the highlighted --failover-only and see if that helps. I also believe the correct term is fallover not failover.

love the idea about the game's minecraft etc

Great news for UTC community