Topic: [ANN] Elacoin | Released | Fair Elastic Scrypt Mining | No Premine - page 17. (Read 133946 times)

I disagree about an off-network blockchain being reintroduced.  I got 3 blocks between #480 and #1100 and they still exist.  There could have been other shennanigans but it was not a pre-mined chain or my coins would have disappeared.

The fair coin, for Linux users

So basically, he intentionally deleted a significant amount of legitimately mined blocks out of paranoia?  Not once, but twice.  A significant number of miners were hard forked and their earnings erased by this choice by Milkshake.

Judging by the name "AWS GUY", how would someone have legitimate concerns that someone would rent enough servers to CPU mine and 51% a GPU coin?  That would be rather expensive to accomplish, with basically no benefit for the person renting them.

When it comes to "fucking up the blockchain", isn't that what Milkshake did, twice?  All of my blocks mined below block 2500, some with >2200 confirmations, were wiped out by this choice.



Oh, I certainly noticed the REORG's, since elacoind segfaulted on each one.  I was running one of the two servers that I believe a significant number of people here used as a seed node (I had up to 750 inbound connections to my elacoind at one point).  The person running the other server people were using as a seed node experienced the same crashes.  On just about every REORG.

Great breakdown mat5x so the coin works as advertised just everyone is looking for an instant 1000 coins like Junk coin or china coin.

    int64 nSubsidy = ((1 + (diff / 24)) * COIN) / (1 + (nHeight / 194400));

from 0 to 24 diff its 1 coin, then 2 at 24. from then on however, its a linear scaling. at 48 its 3 and so on.

so til diff 24, starting at a low diff of 0.002 whateveritwas yes, it looks like an exponential drop in reward.

after 24 it's linear.

48 = 3, 72 = 4, 96 = 5, etc. (the +1 skews it a bit, but that will be less and less of a factor as time goes on).

CNC is already diff 41, ELA @this reward would be 2.
FTC 181, would be 8
LTC 605, would be 26

considering that it started at value of 1 per block, lets pretend it was like BTC and had 50 and redo the calcs above so you arent fooled by the 1:50 ratios (ie ELC is a high value coin, which people cant wrap their heads around, and i guarantee itll trade along side BBQ for a while. time for you to make some profit kids!)

@41, w/50 block equiv reward this would be 100 coins
@181, 200.
@605, 1300.

course i havent done the math to see how difficulty could get that high without tripping the block halving along the way (maybe a couple times), but you get the idea.

hopefully it will trade like its 20, 25 or 50 coins/block. the market should adjust it's valuation just fine, only thing is coin has to survive.

someone feel to setup a googdoc sheet to show the actual payout with halving epochs.

this is all basic math.

so no one mine it at all so it never hits 24 or it will suddenly look attractive! quick, stop mining!

see the irc logs. i can paste the whole set if you want to read through about 500 newbs trying to learn linux in a coin channel.

there might be some logic to it, but there was _A LOT_ of worry about bogey-man "AWS GUY" (please choose a ragecomic for this mythical character) was fucking up the blockchain.

early on, around 1000 blocks in or so, maybe 2000, i saw a REORG of _120 blocks_ in one shot. damn i dont have the debug.log from then ((( blew away .elacoin with a recompile to connect to more hosts at one point. my debug shows biggest reorg was 18 blocks now only. which is pretty big, but typical of early low diff launches.

he was paranoid so he checkpointed it in, fearing a total takeover of 1000s of blocks by 'aws guy'.

lack of experience ruled, methinks (i certainly dont have it, but there's a rumour going around that we all learn somewhere).

Oh yeah this is gonna play out brilliantly. I don't see people wasting that much money on power to get this failcoin to a whopping 2x reward.

yeah I heard it goes to 2 coins at 24 diff

There seems to be a lot of confusion about this.

Hash power (hashes per  second) does not change the block reward.

The difficulty setting changes the block reward.

Last I heard, 2 coins per block is expected when/if the difficulty hits 24.

looking at OP's trend, he is gonna go it again to update git to fix the reward system and every1 mining right now is gonna look like a total tool

Common man, that's warp factor 11 for me, engines will burn up. Scotty, put an extra shovelful of coal in the boiler...

Looks like the diff is 1.58178658 right now, with 15293 blocks in existence.

Thanks a bunch. Will see till tomorrow if the reward does increase or will give up the ghost.

Well that was the only good thing it had going for it, fuck this I'm going back to mining bitbar.

sent.

Haha FAILCOIN. Only good feature isn't implented

+ 1

Aww that is really gonna suck LOL.

I think it was not fixed. It seems it will stay as it is.

If anyone is buying and selling this, I now offer ELC escrow over at http://coinescrow.tk, if you don't use me or another escrow, please be careful, I hate to see people get scammed.