so cryptopia is back online.. they processed deposits and withdrawals show up as transactions..
but what about the ANC blockchain itself? it is completely fucked up!
the last block was found 8 days(!) ago..
i have 24 peers, the new version 90611 and are on block 565028. cryptopia is also on block 565028.
all other block explorers are down.
so is truely nobody mining ( because of low profitability ) ?
Thank you for this thoughtful post,
Indeed, nobody was mining for this reason. Because KGW made 150+ easy blocks when a miner found the highest difficulty block, it was a strong intensive for miners to mine after 12 h - 24 h without blocks. Then multipools automatically hoped on for the fest and difficulty went up after 150 quick blocks. Here with GR-PID the process is the same but the reward much lower as about 20 blocks are easy. So nobody care.
time blocks SUM(transactions) SUM(volume) AVG(difficulty) MAX(height)
2016-08-20 36 9 84,3581237793 0,0000212517 565.028
2016-08-18 38 10 142,3270463943 0,0000228184 564.992
2016-08-17 61 4 77,0836935043 0,000024477 564.954
2016-08-16 1 11 27.368,44140625 0,00000107 564.893
2016-08-15 32 4 61,478717804 0,0000165034 564.892
2016-08-14 346 43 762,0881061554 0,0000071297 564.860
2016-08-13 140 16 3.302,6591997147 0,0000095491 564.514
2016-08-12 1 7 112,8434906006 0,00000028 564.374
2016-08-11 21 1 28.502,58984375 0,0000020805 564.373
2016-08-10 218 27 71.414,309014082 0,0000117845 564.352
2016-08-09 1 21 6.126,3051757812 0,00000059 564.134
2016-08-07 34 9 1.208,0912075043 0,0000149368 564.133
2016-08-06 16 0 0 0,0000043375 564.099
2016-08-05 84 11 622,5356903076 0,0000225308 564.083
it does even not make sense to mine now.. because of the "retarget every block", it would be the following:
block 565029 = diff 521 ( 50 % of LTC profit, so you have to pay 200% hashing price )
block 565030 = diff very low ( hashing price low but above zero )
block 565031 = diff high again, as everybody mines the low block rapidly.
so i could either mine LTC, or i could mine 1 block ANC for double price plus 1 block ANC for free. so the average value is the same. so my conclusion would be not to mine ANC.....
You are wrong, sorry in this case the diff will do like this:
Long time with no block, we are at block x:
block x -> difficulty yyy
next block x+1 -> often more difficult (delay of one block in the retargetting system, diff will go up if the diff was increasing, but down 1.7 times if it was decreasing)
block x+2 -> much easier (1.7 times easier than x+1)
block x+3 -> much easier (1.7 times easier than x+2)
block x+4 -> much easier (1.2 to 1.7 times easier than x+3) - now the average of 6 blocks down i hit and hinder the drop of diff
block x+2 -> easier (1.2 times easier than x+1) (1.2 is set by the average limit on 6 blocks and 170%, the exact value I have the data but not on hand right now)
...
~block x+20 -> difficulty at lowest because it decreased 1.2 times each time till now (if less delay in the first block then this lowest block will be ofc before x+20, and the lowest point of difficulty higher)
block x+21 -> difficulty increase x2 when the very long block is throw out of the tipfilter and is no more used in calculation of difficulty
block x+22 -> difficulty increase x2
block x+23 -> difficulty increase x1.3-x2 - now the average of 6 blocks up is hit and hinder the increase of diff
block x+24 -> difficulty increase x1.3 (1.3 is set by the average limit on 4 blocks and 200%, the exact value I have the data but not on hand right now)
...
block x+z -> difficulty reached the maximum because lots of quick blocks appeared the last 21 blocks, this was exagerated because of drop of difficulty and simultaneous increase of hashrate due to multipool switching to mine ANC. The fest is over, difficulty more difficult than LTC so multipool go away. Nobody mine the coin because there is no faithful miner.
so i really don't see the advantage of the hardfork??
This is complicated because there is no permanent mining going on, only multipool. Those actor dont see the advantage over KGW neither, otherwise they would mine. We need some fraction of constant hashrate.
CS: you probably put a lot of work into this document (
https://wiki.anoncoin.net/GroundRod_PID_main_ver1 ).. but without a proper introduction, a defintion of the different terms and a deeper discussion of the results, its just your own brainfuck, which nobody else can understand ( nor help you with )
Do not worry nobody so far is interested in updating the code but me
And if someone is interested he will understand easily, the generated csv file is easy to grasp for someone motivated.
interpretation 1: miner perscpective
you fucked it up. ( as the chain is dead now ) - sorry
Well not dead, but certainly it has not intensive to mine like when KGW was the difficulty algo. But then it was unfair too all this instamining every 8 or 12 hours.
interpretation 2: user perspective
the is just no demand for a working blockchain. the peak of transactions is 43 per day!
so you could not send anything for 8 days now.. but if somebody would have a urgent transaction, he would just have to add a fee of 3 ANC , so the multipools would see high profit and process the blockchain. That would be 0.48 USD, so an affordable price for a real use case.
but again, lets look at the transaction value ( mining excluded )
Month(time) blocks SUM(transactions) SUM(volume)
8 1.143 214 147.934,6117284298
7 10.947 1.693 82.260,2236501966
I dont think multipool would hop on ANC for 3 ANC. It would be interesting to try.
interpretation 3: security
the block reward is just too low. a double-spend attack is very cheap.
Not really, once the block are released on network, and 6 blocks passed, the hashrate is already a lot because the multipools are mining at this time. I would agree if nobody jumped on the chain but this is not what happen, it is just that every miner wait another miner to mine the 1 (or 2) difficult block.
but again see point 2: nobody would care about that as nobody uses ANC:
this month there were only 25000 USD transferred. even with an optimistic fee of 0.1 % we only get 25$ for network security
Like you said user can give the fee they want, but I dont know to what extent this will motivate miner to mine the difficult block?
CS