Topic: [ANN] [HVC] Heavycoin - Ultra-secure, Decentralized Block Reward Voting, Fast - page 74. (Read 542276 times)

Not sure why that would have been 'better'.  The premise of the coin was, after all, that people could 'democratically' vote for the reward and some derived numbers from the get-go.  If you have to* pick a number between 0 and 1023, 512 is about as sane as it gets ( an argument could be made for 511 ).

I think the power of pools + apathy of miners was simply not anticipated.  The former causing pools to effectively 'dictate' the defaults, and the latter causing those defaults to not be changed.  Pools could have been more proactive in teaching people about it (by not inserting a default numeric value at all, instead using a textual placeholder - same as they do for the username / password placeholders, and explaining to users what the value does) but then they'd be putting up a barrier for the apathetic miners who just want to get up and running with mining fast.. and if Pool A makes them read a bunch of stuff and think about the vote, while Pool B does not.. all things being equal, Pool B gets the miners.

Perhaps truly 'better' would have been for vote-less results to be accepted - essentially have the miner abstaining from voting, and going along with whatever 'the network' ends up voting.  Then the minority who do care could have had more control, and those who didn't care but suddenly wondered why the reward was changing the way it did would educate themselves and join in on the voting.  Of course this wouldn't prevent pools from setting default values anyway, but at least it would put the onus on the pool to explain why they are voting the exact value they are, instead of the current 'well, we have to put something there, so we set it mid-way'.

* Oddly enough, the website does mention "to disable voting then see How to mine", but the mining page ( http://heavycoin.github.io/mining.html ) doesn't mentioning anything about voting at all.

Yeah, it would have been much better if it was set to 128 or so as default instead of 512. Still better than not changing. 

Too bad it hasn't always been like this...kind of late since everyone has their config already...gotta hope for new miners, and I'm sure they aren't racing to mine HVC at the moment.  Hope I'm wrong

Thanks Reorder,
That could help us out a lot!


What do you say ZHPool, think you can out do them with ZERO?  LOL

reorder has updated the sample miner strings on hvc.1gh.com with --vote 1. 

Nice one!

cheers kreative, keep up the good work.

Its going to require coders and time, in the very near future when asics slay the scrypt beast many coins will go to alternative algos like hefty 1, and x11 at this point we are looking at a few months. By this time there will be numerous non asic coins then the altalgo multipool can be a reality.

If zhpool or 1gh want to start laying the framework for this please contact myself or Keccack512. Its time to start really planning the future. Everyone keep emailing Moolah and getting the thunderclap filled, if you're sad about current prices these are things you take part of to help affect the longterm growth of HVC.

kreativekrypto any news on this multi-pool?

Lol I used to vote 500 but I'm trying to vote below 100 now even though it may kill my personal stash later on

I say vote 333 - it's only half evil.

A question to those voting 1024 for the mint phase...

Do you intend to vote 1024 for the entire mint or are you willing to taper back your votes at 25 million coins? 30 million?


The longer we are in this Btc/Altcoin downturn the harder it is going to be for coins to survive. In lean times the most efficient coins will fair the best. This plays right into Heavycoin's strength's. Let's just say litecoin drops to $1 and HVC rises to $1. HVC requires 50% less power than scrypt to mine, so your profit margin is going to be greater with HVC. Until there is a coin that uses less power than HVC, Your profit margins will always be higher with HVC.

This is why I say we should vote low. Lets slow the mint down a little and watch how this downturn plays out and the  effect the scrypt-asics will have on scrypt coins.

With Heavycoin you are vulnerable only if you set the rpcssl command-line option.  If it is not set, then no immediate action is required.
The next version of Heavycoin will contain the OpenSSL Heartbleed fix.

Within the wallet software and during the sustain phase anything above 8 is capped at 8.  For cpuminer (and possibly some GPU miners), you run the risk of generating invalid blocks if you don't decrease your vote.  The official version of cpuminer and pool software sends the maxvote to the external miners, so they would spew out a lot of warnings.  The official cpuminer also has an an option to cap the vote at the pool's maxvote, so invalid blocks are not generated.

keccak512,

What happens in the sustain phase if people don't change their vote to 8 or lower?

Will there just be a new default set on their behalf or will they not be able to mine?

Carlo

Support Heavycoin, ask your friends and family to help spread the word.

https://www.thunderclap.it/projects/10329-heavycoin-secure-e-currency?locale=en

Can we get the OpenSSL issue fixed, please?

Lots of folks seem to set it to 1, but 0 is certainly a valid vote!

It would be cool to see groups voting collaboratively for a common goal.  A decrease in the block reward leading up to the sustain phase would be a nice twist.

We fully understand your views and concerns (we've pondered these scenarios long ago before Heavycoin existed).  Yet we're not going to try to predict what impact a sudden decline or gradual decline in block reward would have.  We simply don't know.   Your scenario is a possible outcome, but there are other factors to consider too.


No idea, but one thing might work in your favor.  The limit phase probably does offer more incentive to vote for a lower block reward than in the mint phase.  Two reasons.  One: the limit phase votes can actually decrease the money supply.  (In the mint phase, miners could just vote for a high block reward to collect a lot of HVC and get it over with faster.)  Two: by the time we reach the limit phase, the existing miners should have amassed a decent stake and be more inclined to "mine a smaller money supply" than mine large blocks.

It will be interesting to see what happens.

You can choose any number between 0 and 1024. It will not affect your mining performance in any way ! Currently 0 would be good to balance out all the 512 votes.
If you and everyone else start voting low the block reward will get lower after ~3600 blocks/votes(5 days) are in. You can see the current blockrewards and votes for next blockreward in the bottom left corner of your wallet.
As history has shown us block halving/lowering rewards is always driving prices up. It's way better to get fewer coins but have their prices steadily growing than having more coins and to discover that they have lost a proportion of their value before you sell them