Topic: [ANN] ELACOIN fork: retarg @19440 diff .3 |interval calc change? see page 11+ (Read 10052 times)

lol wut?

I dont control anything in the coin specifically except the source code, and have not put out any new code in months (ie we're keeping it stable as it is, warts and all). That way everyone knows the code/rules going forward. Just because I take an interest in this coin doesnt mean Im scamming. I have no power to ( in fact, anyone who has sold coins lately has probably sold some to me, so you've been cashing out on my dime.)

This just shows people _STILL_ dont understand how cryptocoins work at all. The only centralized control in ELC is four entities:

• cryptsy who could fuck with the bidding to influence the coin one way or other. Or get hacked and get coins stolen. I have no stake in cryptsy (or even contact with them).
• scryptmining.com which is a pool which could either walk away with stored coins, pay out less, or do a 30% attack (per the Stanford Cornell paper) as they hold lots of hash power, or get hacked. same for the other pool.
• middle coin which is a floating pool vs most profitable coin. same deal above - with additional hash power to throw at any coin to hashtsunami it to fuck the difficulty up so high itll be forever before it comes down.
• CoinChoose which lists relative coin difficulties/reward/profitability. He could fake any numbers he wants and many floating pools would follow it however he wanted. He could pumpcrash any coin he wants pretty easily.

(edit: in case you're really new to all this ALL coins suffer that same points above, including bitcoin.)

Do you use any of the above? If so then you are contributing to centralized authority of a distributed coin, weakening its resistance to takeover and authority. This breaks things way more than I could ever hope to.

I just happen to believe that the coin will go higher eventually, and be a good store of value for miners since the reward is constant per mining KH/s. If you don't, then sell me your coins.

So explain how it's a scam.  It's just as much a scam as people calling those who mined btc in 2011 'scammers' for being early adopters and risking their power bills for an unproven (still, as yet) idea. Standard response to people who didnt mine BTC in 2010/11 is 'cry more, noob.', amirite?

the scam guy?

mat5x = tradefortress

did the calculation for the hell of it:

 69503.5 ELC exist as of block 46322

ill be setting up a page with more stats soon.

now that the difficulty is higher, the correction isnt so important as the ratio of the 'miscalc' or whatever you wanna call it vs the diff gets smaller with higher diff. So just keep mining...

I see the floor() of the diff is going to bite us again at the next retarg. But fixing that means another fork. This means the 'coin is dead'. Then again, anyone holding value in the coin will be hotpotatoed because no transactions will take place if its truly dead. So it's a trade off - let it die, or fix it so it hobbles along. Im sure those with no holdings would love to let it die, since they're not in the game. Those with however...

basically, the in the reward calc should be
Comments?

New Elacoin pool elc.blocksolved.com has launched.

Our ELC pool features:

• 2% fee
• stratum protocol
• variable difficulty
• automatic payout every minute
• minimum payout threshold lowered to 0.1

Happy Elacoin mining!

bump.  #1 on coinchoose, come join the party 

New ELC Pool!  (well technically, its a returning pool, but a fresh start)

http://elc.scryptmining.com

stratum
vardiff
prop payouts.


Come check us out!  Spread the word, ELC lives!

Hit up me via pm, or join us in #scryptmining on freenode.

yeah not sure what happened to all the pools for ELC? p2pool delisted it, Trenal's pool is down, and Vern doesnt have the domain for elacoinpool.org anymore.

anyone?

We need a pool :-(

doesnt seem to be does it!

so, is this coin dying?

ERHcYpkcLvf7CDxXbb5WX7KJEAoZes6HSr

Thank you.

gentlemen and ladies, i made my views clear earlier. and now we are where i said we would be. i'm done with this coin, i have my own. Piece of advice, do what i said, and react to market developments, the ideas behind this coin are ancient and i'm glad i sold when interest and price were high.

Wise words, but we're slowly dying here. A checkpoint cant hurt to start.

The valuation of the coin to date will largely remain the same - anyone who invested in it isnt going to be too upset that the coin survives with SOME value, vs not surviving at ALL.

The spirit of the valuation will be the same, we just need to retarg difficulty better/faster. Perhaps people DID invest into ELC gaming on the fact that the difficulty would get messedup by a CoinChoose wave, and thats how they made their profit (i would posit those people are no longer holders of ELC!). Anyone else who is holding i dont think is betting too heavily on the block rate
being once/12 hrs :/ except the AWS-miner guy who reorg'd 168 blocks as you say...

I dont want to put all my experimental ideas into Elacoin right now, its not the right coin for it. People need a coin to be stable/remain the same as you say, tho the threat of total death gives us some wiggle room to improve it back into life. The coin as is and its reward are just FINE, just need to recalc difficulty more frequently (or semi dynamically, as we dont want 0.1s blocktimes if/when the CC wave comes back).

For other ideas id love to talk to you in more detail about some other stuff, but right now i have it on hold mostly in my head as i deal with real life stuff. But id like to get thinking. Find me in PMs or irc..

Sorry, real busy at the moment.  I'll weigh in when I can though.  I've been leaving an IRC window open on #elacoin so I can occasionally read back through what's been discussed when I have a free moment here and there.



Yeah, I think the "SchizoCoin" comment would be apt.  Hard forks and incompatible client changes are an absolute last resort to fix something fundamentally wrong with a coin that it simply won't survive without fixing.  It's not really a tool for trying out random experiments in tweaking coin parameters without carefully contemplating what types of unintended consequences could occur, since there are many people who hold ELC with a certain understanding of what the coin parameters are/were.  Remember our IRC conversation the other night where multiple potentially exploitable issues surrounding the changes to the retarget calculations made in the last hard fork a little over a week ago were uncovered?  Fortunately they don't appear to have been exploited, and the window of opportunity for them to be exploited has now passed.

A healthy coin isn't one that needs to hard fork twice in just over a week's time!  I would say, "slow down, think carefully, the world isn't going to end tomorrow if the latest experimental coin parameters aren't implemented immediately, be sure all unintended consequences have been thought of, and that the changes are actually absolutely necessary to fix a fundamental flaw that dooms the coin otherwise."

checkpoints.cpp for #20940 pushed to git.

please update your clients as usual.

ok, I pm'd you

sure I only have BTC now. I am also buying LTC.

I'd like 100 ELC. Pm me please