Serious?! You are kidding right!
Topic: [ANN] New Client (6.4.9) for PhenixCoin PXC **Difficulty Fix ** - page 3. (Read 3709 times)
August 01, 2013, 03:57:35 PM
August 01, 2013, 03:52:14 PM
well i updated my client, we'll see what it brings once this outrage has calmed down 
August 01, 2013, 03:45:21 PM
Just WOW! I cannot believe this, the developers changed the rules of the game mid game? You gotta be fing kidding me. I just dumped the 4k coins I had on the exchange, rest will be dumped once it hit it. This is totally unfair and extremely shady. If something similar had been done with Bitcoins or a serious coin it would have been dead. Lucky for you Phenix guys only stupid people are left holding them.
I have been extremely patient waiting and listening to all the hype surrounding this coin, been let down every single week with empty promises, but up until now at least I knew I was holding a coin with fair rules. Well guess what it is not even that anymore. Not even a warning was given, the developers didn't even ask anyone if this was a good idea...
To sum it up: The developers are not only completely useless and cannot finish any project, but they are also so stupid they don't have a clue on how to make a coin fair. This is just like a central bank saying lets start running the printing press in double speed.
WHAT A JOKE!
I have been extremely patient waiting and listening to all the hype surrounding this coin, been let down every single week with empty promises, but up until now at least I knew I was holding a coin with fair rules. Well guess what it is not even that anymore. Not even a warning was given, the developers didn't even ask anyone if this was a good idea...
To sum it up: The developers are not only completely useless and cannot finish any project, but they are also so stupid they don't have a clue on how to make a coin fair. This is just like a central bank saying lets start running the printing press in double speed.
WHAT A JOKE!
August 01, 2013, 03:21:55 PM
no. that were all mine
Nah, doesn't matter guys. I like to joke around a little
oh sorry, you are right mine was few minutes later. You need to hit refresh to see last trades
August 01, 2013, 03:20:03 PM
Quote
Magnet has like $50,000 in PXC so he was expecting to see more than $9 haha.
I don't understand why he is not vocal about the increased generation rate ... this obviously affects its capital a lot !
(still possible to update the update ... at least change it so the coin generation rate is maintained, by proportionally reducing the block reward !)
August 01, 2013, 03:19:34 PM
i just sold all my coins
i just sold all my coins
me too
I just don't understand if they are stupid or what?
Where did you sell them?
Cryptsy
Only sells at Cryptsy for the last hours are:
2013-08-01 16:02:42 Sell 0.00027500 94.42181419 0.02596600
2013-08-01 16:02:42 Sell 0.00027507 400.00000000 0.11002800
2013-08-01 16:02:42 Sell 0.00027510 421.67261261 0.11600214
2013-08-01 16:02:42 Sell 0.00027511 300.00000000 0.08253300
That is right, one of those in middle is mine
no. that were all mine
Nah, doesn't matter guys. I like to joke around a little
August 01, 2013, 03:19:20 PM
i just sold all my coins
i just sold all my coins
me too
I just don't understand if they are stupid or what?
Where did you sell them?
Cryptsy
Only sells at Cryptsy for the last hours are:
2013-08-01 16:02:42 Sell 0.00027500 94.42181419 0.02596600
2013-08-01 16:02:42 Sell 0.00027507 400.00000000 0.11002800
2013-08-01 16:02:42 Sell 0.00027510 421.67261261 0.11600214
2013-08-01 16:02:42 Sell 0.00027511 300.00000000 0.08253300
That is right, one of those in middle is mine
Magnet has like $50,000 in PXC so he was expecting to see more than $9 haha.
it takes time for people to see that there is new update, then realize what was changed and then time to move coins from wallet to cryptsy, I assume few hours will pass until people will start to dump
I simply spotted this thread and had some already in cryptsy so was able to sell them right now
August 01, 2013, 03:16:23 PM
i just sold all my coins
i just sold all my coins
me too
I just don't understand if they are stupid or what?
Where did you sell them?
Cryptsy
Only sells at Cryptsy for the last hours are:
2013-08-01 16:02:42 Sell 0.00027500 94.42181419 0.02596600
2013-08-01 16:02:42 Sell 0.00027507 400.00000000 0.11002800
2013-08-01 16:02:42 Sell 0.00027510 421.67261261 0.11600214
2013-08-01 16:02:42 Sell 0.00027511 300.00000000 0.08253300
That is right, one of those in middle is mine
no. that were all mine
August 01, 2013, 03:15:40 PM
i just sold all my coins
i just sold all my coins
me too
I just don't understand if they are stupid or what?
Where did you sell them?
Cryptsy
Only sells at Cryptsy for the last hours are:
2013-08-01 16:02:42 Sell 0.00027500 94.42181419 0.02596600
2013-08-01 16:02:42 Sell 0.00027507 400.00000000 0.11002800
2013-08-01 16:02:42 Sell 0.00027510 421.67261261 0.11600214
2013-08-01 16:02:42 Sell 0.00027511 300.00000000 0.08253300
That is right, one of those in middle is mine
Magnet has like $50,000 in PXC so he was expecting to see more than $9 haha.
August 01, 2013, 03:14:49 PM
doesnt really increase trust in this coin.
what changes will be next week?
what changes will be next week?
This was not to get the trust. This is to get out of the difficulty problem. Be patient.
August 01, 2013, 03:14:18 PM
i just sold all my coins
i just sold all my coins
me too
I just don't understand if they are stupid or what?
Where did you sell them?
Cryptsy
Only sells at Cryptsy for the last hours are:
2013-08-01 16:02:42 Sell 0.00027500 94.42181419 0.02596600
2013-08-01 16:02:42 Sell 0.00027507 400.00000000 0.11002800
2013-08-01 16:02:42 Sell 0.00027510 421.67261261 0.11600214
2013-08-01 16:02:42 Sell 0.00027511 300.00000000 0.08253300
That is right, one of those in middle is mine
August 01, 2013, 03:12:12 PM
doesnt really increase trust in this coin.
what changes will be next week?
what changes will be next week?
August 01, 2013, 03:10:59 PM
i just sold all my coins
i just sold all my coins
me too
I just don't understand if they are stupid or what?
Where did you sell them?
Cryptsy
Only sells at Cryptsy for the last hours are:
2013-08-01 16:02:42 Sell 0.00027500 94.42181419 0.02596600
2013-08-01 16:02:42 Sell 0.00027507 400.00000000 0.11002800
2013-08-01 16:02:42 Sell 0.00027510 421.67261261 0.11600214
2013-08-01 16:02:42 Sell 0.00027511 300.00000000 0.08253300
August 01, 2013, 03:07:11 PM
i just sold all my coins
i just sold all my coins
me too
I just don't understand if they are stupid or what?
Where did you sell them?
Cryptsy
i just sold all my coins
i just sold all my coins
me too
I just don't understand if they are stupid or what?
Where did you sell them?
i just sold all my coins
me too
I just don't understand if they are stupid or what?
i just sold all my coins
Just a quick update there is a new client for PXC PhenixCoin You can get the new client here. http://phenixcoin.com/
- Block Target is 50 seconds
-Block reward halfed every 840k blocks
-168 million total coins
-50 coins per block
-Difficulty changes every 108 blocks
** PLEASE UPDATE YOUR CLIENTS BEFORE BLOCK 69444 **
Thanks
John
- Block Target is 50 seconds
-Block reward halfed every 840k blocks
-168 million total coins
-50 coins per block
-Difficulty changes every 108 blocks
** PLEASE UPDATE YOUR CLIENTS BEFORE BLOCK 69444 **
Thanks
John
You kept the 50 coins per block while reducing the average time between blocks ?
This means coins will be generated faster now and the coins accumulated so far will thus be devaluated by the same ratio
(almost 2x)Not a nice move for people who sticked to pxc from the beginning
Also what motivated the reduction in the block time ?
90 seconds was quite low already, I have doubts in the network security with such a low value (decreasing the target time ease various kinds of attacks)
Last but not least, I understand why you want to reduce the difficulty adjustment, but without any kind of moving average / continuous adjustment, decreasing this facilitates gaming with the difficulty and thus greatly reduces the security.
(If you happen to control a sizable fraction of the hash-power, by moving in and out at the right time, you can artificially increase / reduce the difficulty, and use the low difficulty cycle to conduct attacks)
In my opinion, the move with the target time and difficulty retarget are quite dangerous for a coin that has a rather low dedicated hash-power.
For the coin generation rate, this is simply a silly move ... should have reduce to 50/(90/50) ~= 27.7 coins per block
(but better not touch the block time anyway)
So you increased the coin generation rate by 80% and played with the difficulty a bit.
You realize you just boned holders and pumpers of this coin, right?
You realize you just boned holders and pumpers of this coin, right?
can u say me the old specs ?
Original specs are:
Block Target is 1.5 minutes
Block reward halfed every 840k blocks
168 million total coins
50 coins per block
Difficulty changes every 600 blocks (was 2400) - max 80% up / down
To be safe: make a back-up of your wallet.dat on a regular base and before updating clients! That goes for every coin
In Windows, for PhenixCoin, you can find your wallet.dat in the following folder: C:\Users\username\AppData\Roaming\Phenixcoin
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