Hi guys,
I'm the person who submitted the latest update to Doubloons so just to clarify what exactly this update changes:
- The minimum transaction fee is now 0.001 DBL (down from 0.1). This change comes in immediately so lower fees for sending coins is a definite incentive to update ASAP.
- As from 1st January 2014 at 00:00:00 GMT the new version will stop accepting connections from older doubloons versions. This is to ensure all clients are on the same hymn sheet for what is to come later.
- From block 150,000 Doubloons will switch to difficulty retargeting every 30 blocks instead of the current 720 blocks. It will also be limited to +/- 110% (down from +/- 400%). This should bring an end to the current roller coaster situation as the changes will be gradual and evaluated much more frequently than currently.
I've also submitted a pull request for a potential Proof of Stake fix for CENT which will drastically reduce the stake that is causing hyper inflation.
Users will need to update before 1st January 2014 at 00:00:00 GMT after which the new version will no longer accept new connections from older versions. To further enforce this update the new client will no longer accept blocks from older versions (which may still remain connected) past this deadline.
Exactly 7 days after this deadline (8th January 2014 at 00:00:00 GMT) the new Proof of Stake values will kick in and reduce stake by a factor of 10,000. This would mean a transaction of 100,000 would generate approximately 90 CENT on top of the original stake after the typical 9 days it takes for stakes to happen.
Of course this is subject to review and approval by The_Catman as the new coordinator of these coins but I believe such a drastic reduction in the Proof of Stake is now essential if there is to be any future for this coin.