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Topic: [ANN] Litecoin - a lite version of Bitcoin. Launched! - page 408. (Read 1467253 times)

ama
member
Activity: 112
Merit: 10
You can never know, it would massively depend on network luck so I'd say you'd still have a chance to mine a block indeed. It would just be more a matter of latency than a matter of hashrate. Also after the first diff increase it will probably be easier to catch up with the chain too, because the diff adjustment is much steeper than in SC.

I think I should go to sleep and get up at my usual times and don't worry about mining until there is a pool I can join.  Let see if I m clever enough to do it or stupid enough to waste the whole night.    Grin
sr. member
Activity: 392
Merit: 250
So, not the smallest chance to mine anything, right?  I'd be happy if I could mine one block.  It'd be exiting, I've never mined one (except for the Litecoin testnet, of course).
You can never know, it would massively depend on network luck so I'd say you'd still have a chance to mine a block indeed. It would just be more a matter of latency than a matter of hashrate. Also after the first diff increase it will probably be easier to catch up with the chain too, because the diff adjustment is much steeper than in SC.
hero member
Activity: 798
Merit: 1000
Quick question, is there a way to see how "fast" you're mining in the Windows client?

Ta Wink
ama
member
Activity: 112
Merit: 10
I'd say probably like SC 2 after 6-12 hours.  Undecided

So, not the smallest chance to mine anything, right?  I'd be happy if I could mine one block.  It'd be exiting, I've never mined one (except for the Litecoin testnet, of course).
sr. member
Activity: 392
Merit: 250
Please explain how one computer can run the whole chain?
Ok, maybe I misphrased that, all I meant was that at that difficulty, with only one computer on the network you'd already be able to find blocks at the target speed of one block every 2.5 minutes.
donator
Activity: 1654
Merit: 1351
Creator of Litecoin. Cryptocurrency enthusiast.
The difficulty is not too low. I'm sticking with Tenebrix difficulty, which starts at 0.00024414.
1 khash/s will find a block every 17.5 minutes. You can do the math for your own machine. I don't think this is too low.
It pretty much means that one single computer can run the whole chain at its target speed of 1 block every 2.5minutes. Of course it's too low...  Roll Eyes

Please explain how one computer can run the whole chain?
sr. member
Activity: 392
Merit: 250
Will we have any chance to download the blockchain and start mining if it takes us a couple of minutes to start, then?  Or will it happen like with SC2 (you never get a chance because your boxe can get to the current block fast enough to ever start mining)?
I'd say probably like SC 2 after 6-12 hours.  Undecided
ama
member
Activity: 112
Merit: 10
The difficulty is not too low. I'm sticking with Tenebrix difficulty, which starts at 0.00024414.
1 khash/s will find a block every 17.5 minutes. You can do the math for your own machine. I don't think this is too low.

Will we have any chance to download the blockchain and start mining if it takes us a couple of minutes to start, then?  Or will it happen like with SC2 (you never get a chance because your boxe can get to the current block fast enough to ever start mining)?
sr. member
Activity: 392
Merit: 250
The difficulty is not too low. I'm sticking with Tenebrix difficulty, which starts at 0.00024414.
1 khash/s will find a block every 17.5 minutes. You can do the math for your own machine. I don't think this is too low.
It pretty much means that one single computer can run the whole chain at its target speed of 1 block every 2.5minutes. Of course it's too low...  Roll Eyes
donator
Activity: 1654
Merit: 1351
Creator of Litecoin. Cryptocurrency enthusiast.
its a retarded time of day. thanks americans. helpful as always ¬_¬
That's democracy for you!

If more Europeans voted, it would be a retarded time for Americans. LOL

I tried to make this as fair as possible. 3AM GMT is the worse time for me out of the 4, but I have to stick to it.
hero member
Activity: 560
Merit: 501
its a retarded time of day. thanks americans. helpful as always ¬_¬
That's democracy for you!
donator
Activity: 1654
Merit: 1351
Creator of Litecoin. Cryptocurrency enthusiast.
What if you guess the starting difficulty and are wrong?  Then you get no early adopters at all and your chain is completely stillborn.  Expect 4 megahash, get 30 kilohash.  Then six months until the first still vastly overinflated retarget.
Then maybe program more frequent retargets, at least it the earliest blocks. So you can indeed start at a difficulty that's way too low but fix that mistake before 100k coins are given away to 30 people between 3am and 3:10am. I'm not saying you need to aim for the exact hashrate, just don't pick anything ridiculously low like it happened in SC2.

Currency hopping is the new pool hopping.  I find it funny that less than a day now separates "early adopters" from "late adopters" in many people's eyes.
When 2 months worth of coins get mined within the first day, this explains that, I guess... When you join a chain say a week after it launched, and mine nothing during a whole day because there's no pool and soloing is too hard (or you mine 2 coins in a pool), and then you see a few day0-day1 posts about the client glitching with 5-10k mined coins in it, you go "mkay, I'll just try something else".

The difficulty is not too low. I'm sticking with Tenebrix difficulty, which starts at 0.00024414.
1 khash/s will find a block every 17.5 minutes. You can do the math for your own machine. I don't think this is too low.
sr. member
Activity: 369
Merit: 250
its a retarded time of day. thanks americans. helpful as always ¬_¬
sr. member
Activity: 392
Merit: 250
What if you guess the starting difficulty and are wrong?  Then you get no early adopters at all and your chain is completely stillborn.  Expect 4 megahash, get 30 kilohash.  Then six months until the first still vastly overinflated retarget.
Then maybe program more frequent retargets, at least it the earliest blocks. So you can indeed start at a difficulty that's way too low but fix that mistake before 100k coins are given away to 30 people between 3am and 3:10am. I'm not saying you need to aim for the exact hashrate, just don't pick anything ridiculously low like it happened in SC2.

Currency hopping is the new pool hopping.  I find it funny that less than a day now separates "early adopters" from "late adopters" in many people's eyes.
When 2 months worth of coins get mined within the first day, this explains that, I guess... When you join a chain say a week after it launched, and mine nothing during a whole day because there's no pool and soloing is too hard (or you mine 2 coins in a pool), and then you see a few day0-day1 posts about the client glitching with 5-10k mined coins in it, you go "mkay, I'll just try something else".
donator
Activity: 1654
Merit: 1351
Creator of Litecoin. Cryptocurrency enthusiast.
Much thanks to terrytibbs, we have a website: http://litecoin.org
donator
Activity: 1654
Merit: 1351
Creator of Litecoin. Cryptocurrency enthusiast.
I've uploaded the latest Windows daemon. You need to download this in order to prevent a 51% attack:
    https://github.com/downloads/coblee/litecoin/litecoin-windows-daemon-10-11-2011.zip

See first post for more details.
hero member
Activity: 633
Merit: 500
I find it funny that less than a day now separates "early adopters" from "late adopters" in many people's eyes.

In this world, it is far earlier than you think.
full member
Activity: 154
Merit: 100

I think what would be for the best would be to start with a not ridiculously low difficulty... So that people wouldn't join just for mining a quick stash during the first days then leave for the next new ccurrency launch and sit on their Litecoin stash expecting it will eventually be worth something when hypothetical late adopters will join and do the promoting job while mining at 1000 times the starting difficulty.

What if you guess the starting difficulty and are wrong?  Then you get no early adopters at all and your chain is completely stillborn.  Expect 4 megahash, get 30 kilohash.  Then six months until the first still vastly overinflated retarget.

No, low difficulty and the pyramiding is the only thing that works.  Best you can do is tell everyone you can about it so they have the opportunity to compete on an even footing out the door.  After it's established what happens is what happens.  The OP is doing this right.

Currency hopping is the new pool hopping.  I find it funny that less than a day now separates "early adopters" from "late adopters" in many people's eyes.


sr. member
Activity: 392
Merit: 250
I'm inclined to ask you to wait for a day or so so we can get an established chain going.  Difficulty initially will be low enough that no one would benefit from using a pool anyway.  This hopefully will change quickly.

That's already the plan. Just wanted to make sure it wasn't needed/wanted because of the time of the switch over. I have not released the address to the pool so even though I'll have my miners pointed at it, no one else will be able to use it yet.

I think that is for the best.  Others may disagree.
I think what would be for the best would be to start with a not ridiculously low difficulty... So that people wouldn't join just for mining a quick stash during the first days then leave for the next new ccurrency launch and sit on their Litecoin stash expecting it will eventually be worth something when hypothetical late adopters will join and do the promoting job while mining at 1000 times the starting difficulty.
mrx
member
Activity: 86
Merit: 10
Abe: www.misterx.tk

notice that only LTC Testnet now, and it is not updating(I've quitted the daemon).  I've set up a script that tries to run litecoind every 10 secs until the main chain gets online.

I'm behind a firewall and a router without upnp enabled, does it mean I'll get more orphans at the early stage?
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