I think it scales with the number of users who are mining on full nodes (and the amount of stake they are mining with). It may not scale that fast and as the hardware demands of running a full node increase it may even start to drop at some point.
PoS difficulty depends on available coin*day weight only. There is no dependence on hardware. 
Topic: [ANN] official NovaCoin thread - the original PoS+scrypt coin. --POOL LIST-- - page 50. (Read 282664 times)
June 29, 2013, 03:25:19 PM
June 29, 2013, 03:15:02 PM
I think it scales with the number of users who are mining on full nodes (and the amount of stake they are mining with). It may not scale that fast and as the hardware demands of running a full node increase it may even start to drop at some point.
You don't seem to know how proof-of-stake mining works and I'm too lazy to explain it to you. Please read the PPCoin paper:
http://www.ppcoin.org/static/ppcoin-paper.pdf
June 29, 2013, 02:40:52 PM
53% interest? Isn't that crazy high?
Yes, it's high at the moment but I think it will go down fairly quickly as the difficulty rises.
Not really.. if the difficulty shot up from 0.04 all the way to say 40 then the interest rate would still be:
1 / (40/0.001) ^ 1/6 = 17.09%
It depends on what a reasonable range for d is.. but the 1/6 power really keeps the changes slow.
It's impossible to predict with certainty what will happen to the difficulty. Having said that, I don't think that the difficulty will rise linearly. My guess is that it will rise exponentially, but I could be wrong!
I think it scales with the number of users who are mining on full nodes (and the amount of stake they are mining with). It may not scale that fast and as the hardware demands of running a full node increase it may even start to drop at some point.
June 29, 2013, 12:58:25 PM
53% interest? Isn't that crazy high?
Yes, it's high at the moment but I think it will go down fairly quickly as the difficulty rises.
Not really.. if the difficulty shot up from 0.04 all the way to say 40 then the interest rate would still be:
1 / (40/0.001) ^ 1/6 = 17.09%
It depends on what a reasonable range for d is.. but the 1/6 power really keeps the changes slow.
It's impossible to predict with certainty what will happen to the difficulty. Having said that, I don't think that the difficulty will rise linearly. My guess is that it will rise exponentially, but I could be wrong!
June 29, 2013, 10:17:15 AM
53% interest? Isn't that crazy high?
This could be compared with PoW mining profit rate. June 29, 2013, 10:09:48 AM
PoS emission will cause the slow raising of total network stake weight. Higher network stake weight will cause higher difficulty and lower interest. But maybe we will change power to 1/4 before protocol freeze, will see later.
P.S. Current PoS difficulty is 3.8 in PPCoin, for example.
P.S. Current PoS difficulty is 3.8 in PPCoin, for example.
June 29, 2013, 08:56:23 AM
53% interest? Isn't that crazy high?
Yes, it's high at the moment but I think it will go down fairly quickly as the difficulty rises.
Not really.. if the difficulty shot up from 0.04 all the way to say 40 then the interest rate would still be:
1 / (40/0.001) ^ 1/6 = 17.09%
It depends on what a reasonable range for d is.. but the 1/6 power really keeps the changes slow.
June 28, 2013, 11:26:58 PM
We usually able to fix the vulnerabilities faster than another altcoin projects.
https://bitcointalksearch.org/topic/m.2532345
It's already fixed 6 days ago in 0.4.3.
https://bitcointalksearch.org/topic/m.2532345
It's already fixed 6 days ago in 0.4.3.
Good show!
June 28, 2013, 02:45:05 PM
what does the POS diff depends on?
It depends on the number of blocks that are found by proof-of-stake. Read the PPCoin paper for the details:
http://www.ppcoin.org/static/ppcoin-paper.pdf
For the differences between PPCoin and Novacoin see the FAQ:
https://github.com/CryptoManiac/novacoin/wiki/FAQ
June 28, 2013, 02:37:19 PM
53% interest? Isn't that crazy high?
Yes, it's high at the moment but I think it will go down fairly quickly as the difficulty rises.
what does the POS diff depends on?
June 28, 2013, 02:21:44 PM
53% interest? Isn't that crazy high?
Yes, it's high at the moment but I think it will go down fairly quickly as the difficulty rises.
June 28, 2013, 02:12:45 PM
can anybody explain the interest calculation more exactly? maybe with an example?
i'm not able to calculate with a number like: 0x00000ffff0000000000000000000000000000000000000000000000000000000
i'm not able to calculate with a number like: 0x00000ffff0000000000000000000000000000000000000000000000000000000
Hi all. I asked my friends to publish 0.4.1 and 0.4.1 builds while I'm at hospital.
I'll publish the full changelog later, important changes are listed below.
Update should be performed before 20 June 2013.
I'll publish the full changelog later, important changes are listed below.
- Dynamic PoS interest. Now it's a function of PoS difficulty, nRewardCoinYear = 1 / (posdiff ^ 1/6). It can have values from 100% to 1%;
- Checkpoints ignore option added, disabled by default;
- Bug fix for coinstake transactions display in QT client;
- Bug fix for AvailableCoins function, prevents immature coins usage;
- Mac OS X compatibility issues resolved, from now we publishing official Mac OS X 64 bit builds also;
- New genesis block for testnet.
Update should be performed before 20 June 2013.
So the expected reward will go down to 1.83% a year based on 0.025 PoS difficulty?
ah, thx. so the current interest is: 1 / (0.04141117/0.001) ^ 1/6 = 53.76%
June 28, 2013, 01:56:24 PM
can anybody explain the interest calculation more exactly? maybe with an example?
i'm not able to calculate with a number like: 0x00000ffff0000000000000000000000000000000000000000000000000000000
i'm not able to calculate with a number like: 0x00000ffff0000000000000000000000000000000000000000000000000000000
Hi all. I asked my friends to publish 0.4.1 and 0.4.1 builds while I'm at hospital.
I'll publish the full changelog later, important changes are listed below.
Update should be performed before 20 June 2013.
I'll publish the full changelog later, important changes are listed below.
- Dynamic PoS interest. Now it's a function of PoS difficulty, nRewardCoinYear = 1 / (posdiff ^ 1/6). It can have values from 100% to 1%;
- Checkpoints ignore option added, disabled by default;
- Bug fix for coinstake transactions display in QT client;
- Bug fix for AvailableCoins function, prevents immature coins usage;
- Mac OS X compatibility issues resolved, from now we publishing official Mac OS X 64 bit builds also;
- New genesis block for testnet.
Update should be performed before 20 June 2013.
So the expected reward will go down to 1.83% a year based on 0.025 PoS difficulty?
June 28, 2013, 01:49:12 PM
can anybody explain the interest calculation more exactly? maybe with an example?
i'm not able to calculate with a number like: 0x00000ffff0000000000000000000000000000000000000000000000000000000
i'm not able to calculate with a number like: 0x00000ffff0000000000000000000000000000000000000000000000000000000
June 26, 2013, 07:06:10 PM
P2Pool currently works well, that's true. But there is a plan to restart p2pool shares chain after 20 Sep 2013.
New NVC protocol changes will be activated since this date, allowing us to remove ECDSA signatures for PoW blocks and 0.01 coin lower bound for coinbase outputs. So, P2Pool diff with upstream will become significantly smaller than diff of current P2Pool implementation. Also it will provide an opportunity to run public nodes without current limitations.
New NVC protocol changes will be activated since this date, allowing us to remove ECDSA signatures for PoW blocks and 0.01 coin lower bound for coinbase outputs. So, P2Pool diff with upstream will become significantly smaller than diff of current P2Pool implementation. Also it will provide an opportunity to run public nodes without current limitations.
June 26, 2013, 06:44:15 PM
Thank you Balthazar for your work on NVC, with the time im slowly moving to NVC, since p2pool+nvc work well its the time to move 24x 1GH, sorry pool operator but no thx i will not mine for you.
June 26, 2013, 06:36:57 PM
Quote from: mr_random
What do you think the real number is?
I think that we can estimate it using connections amount.
Quote
$ /opt/novacoin/novacoind getinfo
{
"version" : "v0.4.3-pre-1-g6b010cb-dirty-beta",
"protocolversion" : 60008,
"walletversion" : 60000,
"balance" : 0.00000000,
"newmint" : 0.00000000,
"stake" : 0.00000000,
"blocks" : 28819,
"moneysupply" : 408977.46367000,
"connections" : 98,
"proxy" : "",
"ip" : "0.0.0.0",
"difficulty" : 190.50223126,
"testnet" : false,
"keypoololdest" : 1360480939,
"keypoolsize" : 101,
"paytxfee" : 0.01000000,
"errors" : ""
}
$
{
"version" : "v0.4.3-pre-1-g6b010cb-dirty-beta",
"protocolversion" : 60008,
"walletversion" : 60000,
"balance" : 0.00000000,
"newmint" : 0.00000000,
"stake" : 0.00000000,
"blocks" : 28819,
"moneysupply" : 408977.46367000,
"connections" : 98,
"proxy" : "",
"ip" : "0.0.0.0",
"difficulty" : 190.50223126,
"testnet" : false,
"keypoololdest" : 1360480939,
"keypoolsize" : 101,
"paytxfee" : 0.01000000,
"errors" : ""
}
$
Quote
$ /opt/novacoin/novacoind getinfo
{
"version" : "v0.4.3-nvc-dirty-beta",
"protocolversion" : 60008,
"walletversion" : 60000,
"balance" : 102.86255200,
"newmint" : 0.00000000,
"stake" : 0.00000000,
"blocks" : 28819,
"moneysupply" : 408977.46367000,
"connections" : 120,
"proxy" : "",
"ip" : "0.0.0.0",
"difficulty" : 190.50223126,
"testnet" : false,
"keypoololdest" : 1360426851,
"keypoolsize" : 102,
"paytxfee" : 0.01000000,
"errors" : ""
}
$
{
"version" : "v0.4.3-nvc-dirty-beta",
"protocolversion" : 60008,
"walletversion" : 60000,
"balance" : 102.86255200,
"newmint" : 0.00000000,
"stake" : 0.00000000,
"blocks" : 28819,
"moneysupply" : 408977.46367000,
"connections" : 120,
"proxy" : "",
"ip" : "0.0.0.0",
"difficulty" : 190.50223126,
"testnet" : false,
"keypoololdest" : 1360426851,
"keypoolsize" : 102,
"paytxfee" : 0.01000000,
"errors" : ""
}
$
June 26, 2013, 06:24:47 PM
Any idea what's the active user base of NVC is like? I'm asking 'cause I run ALTcointip bot and NVC is the only coin that's never been used since very beginning. Even /r/novacoin is dead.
You can see here how many times the clients have been downloaded:
http://sourceforge.net/projects/novacoin/files/
That's probably the best estimate about how many users there are.
Novacoin is the perfect coin for hoarders because it pays interest. I wouldn't dream of tipping novacoins just like I wouldn't tip gold coins.
Have you checked that page? I only see 300 downloads on it.
What do you think the real number is? NVC is the most mysterious out of all the coins... it's high value, it's stability, it's general lack of interest on here. Weird.
June 26, 2013, 06:21:10 PM
Bitinvestor
Unfortunately, we can't see statistics for removed files (old releases).
Unfortunately, we can't see statistics for removed files (old releases).
Any idea what's the active user base of NVC is like?
Currently the most part of users are investors, miners and some merchants owned by enthusiasts. Because there are not so many coins generated yet. But this will change when the mined volume will grow enough to allow higher capitalization. June 26, 2013, 04:43:46 PM
Any idea what's the active user base of NVC is like? I'm asking 'cause I run ALTcointip bot and NVC is the only coin that's never been used since very beginning. Even /r/novacoin is dead.
You can see here how many times the clients have been downloaded:
http://sourceforge.net/projects/novacoin/files/
That's probably the best estimate about how many users there are.
Novacoin is the perfect coin for hoarders because it pays interest. I wouldn't dream of tipping novacoins just like I wouldn't tip gold coins.
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