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Topic: [ANN] Noirbits Update required Improved algos !!!! - page 7. (Read 74427 times)

legendary
Activity: 882
Merit: 1000
What are the Noir Bits developers working on?

 stbgefltc is working on main code during his free time, please RESPECTFULLY request anything you would like. I am currently looking into getting us on a different exchange and the bank. It's a far chance, but it would change not only NRB but the face of crypto if people could start doing ordinary banking ops with it. Due to location i will not be introducing direct fiat withdrawals in that country, but it will be available at ATMs. Getting Visa to accept us is dependent on American interests so we have already begun talking to the guys who made the first BTC ATM.

There is a nation that has said if we support BTC in our bank, they will let us run parallel to normal eco line as an experiment. Our only squabble with them is that they would like the bank to set guaranteed exchange rates for fiat in their country. I am uncomfortable with this since it puts the bank in for serious losses if BTC tanks.

barwizi, whatever you do, do NOT accept a fixed rate.  The ongoing currency wars across the globe has instigated a race to devalue currencies between all developed countries.  This will make exports so much cheaper for said countries that other (less developed) countries will have no choice but to devalue as well, in order to keep their exports competitive.  What you would have to worry about is BTC spiking AND their currency tanking; you'll basically be giving away free BTC to that country's banking system.  And the global financial environment is ripe for both to occur.  

-Merc

EDIT:  I assumed you will be selling BTC to this country's financial system.

thanks for the heads up, i am not too knowledgeable when it comes to deep economics but what you said makes sense.
sr. member
Activity: 364
Merit: 250
What are the Noir Bits developers working on?

 stbgefltc is working on main code during his free time, please RESPECTFULLY request anything you would like. I am currently looking into getting us on a different exchange and the bank. It's a far chance, but it would change not only NRB but the face of crypto if people could start doing ordinary banking ops with it. Due to location i will not be introducing direct fiat withdrawals in that country, but it will be available at ATMs. Getting Visa to accept us is dependent on American interests so we have already begun talking to the guys who made the first BTC ATM.

There is a nation that has said if we support BTC in our bank, they will let us run parallel to normal eco line as an experiment. Our only squabble with them is that they would like the bank to set guaranteed exchange rates for fiat in their country. I am uncomfortable with this since it puts the bank in for serious losses if BTC tanks.

barwizi, whatever you do, do NOT accept a fixed rate.  The ongoing currency wars across the globe has instigated a race to devalue currencies between all developed countries.  This will make exports so much cheaper for said countries that other (less developed) countries will have no choice but to devalue as well, in order to keep their exports competitive.  What you would have to worry about is BTC spiking AND their currency tanking; you'll basically be giving away free BTC to that country's banking system.  And the global financial environment is ripe for both to occur.  

-Merc

EDIT:  I assumed you will be selling BTC to this country's financial system.
hero member
Activity: 742
Merit: 500
Its as easy as 0, 1, 1, 2, 3
I believe he is referring to tx fees.
sr. member
Activity: 364
Merit: 250
Adjusting the retarget algorithm to make the coin resilient to hashrate spikes, see oatmo's post above.

Possibly transaction refunds... and one or two other goodies, but there'll be more info soon.

'transaction refunds' as in reversing transactions?
legendary
Activity: 882
Merit: 1000
What are the Noir Bits developers working on?

 stbgefltc is working on main code during his free time, please RESPECTFULLY request anything you would like. I am currently looking into getting us on a different exchange and the bank. It's a far chance, but it would change not only NRB but the face of crypto if people could start doing ordinary banking ops with it. Due to location i will not be introducing direct fiat withdrawals in that country, but it will be available at ATMs. Getting Visa to accept us is dependent on American interests so we have already begun talking to the guys who made the first BTC ATM.

There is a nation that has said if we support BTC in our bank, they will let us run parallel to normal eco line as an experiment. Our only squabble with them is that they would like the bank to set guaranteed exchange rates for fiat in their country. I am uncomfortable with this since it puts the bank in for serious losses if BTC tanks.
member
Activity: 104
Merit: 10
Everything looks good since the algo update. One possible future update suggestion is that just like we have the 4 hour forced retarget for too slow, it's probably a good idea to have one for too fast as well... Something like if you get 15 blocks (30 minutes worth) in less than 7.5 minutes (running 4x too fast) then you force a retarget as well. This would more effectively handle cases where a ton of hash power gets added quickly without generating a ton of orphans.

Just a thought.

Oatmo

Indeed, with the added benefit of dettering coin hoppers. However, we need to be careful with this, as we've seen yesterday that despite us annoucing the upgrade long before the new rules, and contacting service providers, not everyone did upgrade. We can still implement the feature, but given it's not as critical, I think it needs a big delay before kicking in, at least 30K blocks, if not more. Since the retargets work properly now, we can safely assume an approximate 2 minute block time... giving about a month's delay before the new rules.
Totally Agree... Figure out if there is anything else worth updating, then make it a long ways out. Nothing is killing us at this point, it's just an improvement.
full member
Activity: 154
Merit: 100
Adjusting the retarget algorithm to make the coin resilient to hashrate spikes, see oatmo's post above.

Possibly transaction refunds... and one or two other goodies, but there'll be more info soon.
newbie
Activity: 45
Merit: 0
What are the Noir Bits developers working on?
sr. member
Activity: 333
Merit: 250
"Raven's Cry"
everything looking good, good job Grin
full member
Activity: 154
Merit: 100
And what now, 40 pages still not have windows client. WTH?!

www.noirbits.com .... just saying...

Ok, but fix the button, coz not work now...

I just warned the webmaster. Link is available in the first post of the thread also.

full member
Activity: 156
Merit: 100
And what now, 40 pages still not have windows client. WTH?!

www.noirbits.com .... just saying...

Ok, but fix the button, coz not work now...
full member
Activity: 154
Merit: 100
And what now, 40 pages still not have windows client. WTH?!

www.noirbits.com .... just saying...
full member
Activity: 156
Merit: 100
And what now, 40 pages still not have windows client. WTH?!
full member
Activity: 154
Merit: 100
Everything looks good since the algo update. One possible future update suggestion is that just like we have the 4 hour forced retarget for too slow, it's probably a good idea to have one for too fast as well... Something like if you get 15 blocks (30 minutes worth) in less than 7.5 minutes (running 4x too fast) then you force a retarget as well. This would more effectively handle cases where a ton of hash power gets added quickly without generating a ton of orphans.

Just a thought.

Oatmo

Indeed, with the added benefit of dettering coin hoppers. However, we need to be careful with this, as we've seen yesterday that despite us annoucing the upgrade long before the new rules, and contacting service providers, not everyone did upgrade. We can still implement the feature, but given it's not as critical, I think it needs a big delay before kicking in, at least 30K blocks, if not more. Since the retargets work properly now, we can safely assume an approximate 2 minute block time... giving about a month's delay before the new rules.
member
Activity: 104
Merit: 10
Everything looks good since the algo update. One possible future update suggestion is that just like we have the 4 hour forced retarget for too slow, it's probably a good idea to have one for too fast as well... Something like if you get 15 blocks (30 minutes worth) in less than 7.5 minutes (running 4x too fast) then you force a retarget as well. This would more effectively handle cases where a ton of hash power gets added quickly without generating a ton of orphans.

Just a thought.

Oatmo
full member
Activity: 154
Merit: 100
There's no daemon file in the current Windows binaries package, only the Qt executable. I tried downloading from noirbits.org and from the Mega link. Here's the file list:

libgcc_s_dw2-1.dll
libstdc++-6.dll
mingwm10.dll
Noirbits-qt.exe
qrc_bitcoin.cpp
QtCore4.dll
QtGui4.dll
QtNetwork4.dll

Compiling with latest version as of now, package will soon be available on mega.
full member
Activity: 154
Merit: 100
Allright ! Less than 1K blocks before new difficulty rules !

And it's there ! Everything seems to be going fine, I'll keep monitoring... But the block explorer apparently did not update his client :s Neither did CoinChoose...
Looking great.. See that the block explorer has been updated. I assume coinchoose will be close behind. Seems to be running great. Thanks for the hard work making this happen for the community.

Oatmo

No problem... it''s actually fun developping for cryptos... But it's been a heck of a day, juggling between my real job and the issues we've seen on Cryptsy, the block explorer, and my fucked up merge on Github that dropped some code... Glad it's over Smiley
member
Activity: 104
Merit: 10
Allright ! Less than 1K blocks before new difficulty rules !

And it's there ! Everything seems to be going fine, I'll keep monitoring... But the block explorer apparently did not update his client :s Neither did CoinChoose...
Looking great.. See that the block explorer has been updated. I assume coinchoose will be close behind. Seems to be running great. Thanks for the hard work making this happen for the community.

Oatmo
legendary
Activity: 882
Merit: 1000
I have a question about the Noirbank. How will its ownership be set up?
Will the community be able to pirchases shares of it?

Good question, once i get my paper work in order i'm hoping to apply a form of community control, i will however have a large slice of the ownership, probably 51~55% for legal reasons. If i find a way to make it completely community managed that would be cool, but most nations need someone to point at when things go awry so i'll probably have to be actually liable.

The issue that was raised was the reserve fund issue, most countries require a certain amount of money to be available as reserve to protect a banks clients, this has raised an issue that we are currently considering.
full member
Activity: 129
Merit: 100
I have a question about the Noirbank. How will its ownership be set up?
Will the community be able to purchase shares of it?
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