Topic: [ANN] Woodcoin [LOG] Pure Skein POW, Logarithmic Release, No Premine nor ICO - page 9. (Read 126271 times)

Stickers now available in green.

I made some stickers up. Will make some others later.

http://woodcoin.rocks/stickers

Difficulty continues to rise:

L8nit3-miners.com is re-opened for testing at this point, still have some server hardening and small changes to do but shares are being correctly accepted, and seem to be on the correct chain again. I will update when all has been confirmed working.

A new Chinese language version of the LOG whitepaper has been making the rounds:

http://vixra.org/pdf/1708.0339v1.pdf

木币：
一种为长寿命和稳定性而建立的点对点电子货币

Greetings Woodcutters and Log Stackers,

  From Isengard, on the occasion of the Solar Eclipse of 2017.  

  Recent market moves have indicated a tiny bit of rational behavior, so it's a good time to repeat the design considerations that led us to a logarithmic release.  We will need to keep repeating these again and again; something worth saying is worth repeating.  Even to the choir  

Why log?  

The logarithmic release is a compromise between two competing forces which affect our choice of money supply curve.  These are RATIONAL market forces, and so (more on this later) we rarely see them play a dominant role in the short term.  

1) FEES - Coins which require the user to at that moment pay a larger fee to make a transaction WILL LOSE MARKET SHARE to coins which are cheaper for a user to make a transaction.  We have seen this appear very slightly when BTC fees went way up and there was a small surge in other coins.  

To put it simply:  rather than often pay high fees, one is tempted to purchase chunks of a lower-fee exchange commodity to use for some more regular payments.  In so much as people using the currency drives the price, we can see that the fee for the use also drives the price.  Once someone learns to use one public coin, moving to another is relatively easy.

2) INFLATION - Coins which inflate more rapidly WILL LOSE MARKET SHARE to coins with a fixed maximum supply and/or a lower rate of money supply inflation.  Hodlers don't want their hodlings to depreciate with time right?    

So what's the problem you say, we need a coin with low fees and a low inflation!  

The problem is: we need to pay the miners somehow, otherwise we have no coin.  
 
LOG finds the middle ground between these two forces.  It features a continual reward, allowing TX fees to stay low as coinbase rewards continue to fund miners for a *very* long time.  Coinbase rewards decrease more slowly than any other release schedule. However it still keeps a cap on supply, meaning that your coins will not be debased.

Rational market forces will therefore favor the logarithmic release coin!!

HOWEVER

Markets are likely to remain mostly irrational in the short term.  After all, people are still trading their coins, goods, and services for fiat currency, issued in private in arbitrary amounts at no cost by some folks who appear to mostly be total morons.  While this persists, fiat issuers can pump any coin they feel like to any price - at no cost to themselves.  How could a rational market emerge under these conditions?  Things like the network effect, marketing, glossy websites, fancy logos, and general exuberance are also powerful forces in the markets in the short term.  

Peace upon middle earth on the occasion of the eclipse.  Congrats on recent all time highs in our hash rate and keep up the good work all woodcutters and woodcoin contributors!!  


  

Thanks Iyolyalya,
  More specifically, the "Woodcore" wallet built on the bitcoin-core codebase doesn't work for solo mining at the moment (just as bitcoin-core doesn't work for solo mining).  For solo woodcutting I recommend: 

Source: 
http://github.com/funkshelper/woodcoin.git

With linux binaries here:
https://github.com/woodcoin-core/woodcoin-linux/

Winblows:
https://github.com/woodcoin-core/woodcoin-windows/raw/master/woodcoin-qt.exe

Crapple:
https://github.com/woodcoin-core/woodcoin-mac/raw/master/woodcoin-qt.dmg

solo mining is fine on windows.

Has anyone gotten solo mining working reliably?  I can start mining to the core wallet that was listed a page or two back, but it crashes after a couple minutes every single time I start.

I believe that the payment config issue has been resolved and the WOODCOIN portion of the pool is back open in beta testing status
Please PM me or post in the L8nit3-miners OP to confirm if you have received a payment today from the pool.
OP Link
Pool Link

Anyone have any good peers for the old wallet - v1.0.0.0-unk-geo?

Any idea when a fixed wallet will be released so we can SOLO mine again?

Difficulty continues to rise, reaching over 1000 for the first time.  Minimum difficulty is clocking in above 200. 

glad you enjoy it actually got permission from YTCracker himself to use it on my site As for the pool, I seem to be having an issue getting payments to run correctly, we are finding blocks and submitting shares fine, and balances are absolutely being tracked.
However in the interest of transparency I wanted all to know I am working on the auto-pay issues now (and have been most of the day). So if all miners feel more comfortable solo mining until all is fixed, that is 100% understandable. Will update as info changes.

It turned out to launch solo booty with an older version of the purse, the new one also did not work
http://prntscr.com/fqa8iq



Coins from this pool(http://www.l8nit3-miners.com) withdrawn, only to where it is not clear
http://prntscr.com/fqa8xy
http://prntscr.com/fqa96w
http://prntscr.com/fqa99p

^  ^  ^  
Nice soundtrack

we have enabled WOODCOIN mining over at L8nit3-miners
Stratum URL: stratum+tcp://107.161.95.108:5233
Username: Your wallet address
Password: c=LOG
Pool ANN Thread: BCT ANN
#GetMining

gpu amd suport ?

The updated qt you have listed does work with ccminer. Thanks  
(Now the real test if I actually can find blocks and send them without them just disappearing)

*update:30 min with no blocks found when it was about 15 min at mining pool...  *
*update 1 hr and no blocks... so idk if its working right, put 2 miners to this wallet and 1 to online mining pool, 1gh found a block in 20 min (online pool) where 2gh found none in an hour (latest qt). so trying the pre satoshi one.

Presatoshi one found a block within 15 min... so I think there is something up with the newest Qt.