Topic: [ANN][INK] INKcoin - Launched! SHAvite-3 Hash, NO PRE-M! CPU minable - page 8. (Read 50537 times)

Err, really? There is no diff readjustment?? I'll find some time today to look in the code. And yes you're right, without readjustment and with such high diff jumps it's really insane business... What's the point of this design, I don't get it... Dev?

With Diiff 16,384 soon, we shall know the future of this coin .

Let's hold on it ....  

there is no KGW (Kimoto gravity well) and it looks like there is no way for it to re-target the difficulty in any direction other than up.. so by virtue of that, it has no way to reach equilibrium.
lol obviously you need to read up a bit more on how this coin works.. im done here... no point in arguing with people who aren't willing to take the time to research what the coin actually does. if you don't believe me read the source code.

0.0000045 BTC NOW !!! 

I have purchased some coins from nxt-e using Chrome. I didn't encounter any problem.

Really? I tried but it works great on chrome. You can clear your browser and try again.

Definitely, it will. When it reach Block 90720 !!!

I don't know who is mining this coin but this morning I stopped all my mining...

last night I had an "aha" moment when I finally realized that this coin is fatally flawed.

the reason why this coin is designed to fail is quite simple..

for those who do not understand the relationship between block difficulty and transaction times please read this wiki

https://en.bitcoin.it/wiki/Blocks

it is fundamentally important that block difficulty be adjustable (both up and down) so that blocks can continue to be solved at a moderate pace.
this is because blocks are nothing more than a bunch of transactions bundled together in a block which secured (ie locked) by a cryptographic hash.
the cryptograpic hash of course is what every miner is competing for.. the guy who finds the solution to the mathematical problem defined by the Network difficulty is the guy who gets to process a block of transactions and gets to stamp a hash on the block so that it cant be tampered with. he/she/it gets paid 50 coins for their trouble.

now consider this...

once the difficulty gets so high that it literally takes HOURS for the network to solve the next block, then this means that transaction times will blow out exponentially. considering that most transactions require a large number of confirmations to be considered safe (on some smaller alt coins this is as high as 120 confirmations) this means that the actual time for a transaction to be processed and considered SAFE could end up taking days.

https://en.bitcoin.it/wiki/Confirmation

sure you might think.. we are a long way off blocks taking hours to solve.. but actually the truth is with a lot of these smaller coins.. it doesn't take long before miners move on to mine more profitable coins.. this means that over time as the difficulty rises the total network hashing power decreases which makes it even harder for the existing miners (those who joined together in a pool) to solve blocks so they too move on to other coins and the spiral continues downward...

in normal crypto coins, block difficulty re-targeting is designed to counter this problem by reducing the difficulty so that a steady stream of blocks can be processed...
based on what others have stated on this forum (and observation), what the stupid incompetent dev of this coin has done is modify that feature so that the difficulty can NEVER go down.
this means that the network cannot adjust to any decrease in mining capacity..

so in conclusion any decrease in mining capacity is likely to lead to a further decreases in mining capacity which will eventually result in it being too difficult for the remaining miners to solve blocks in a reasonable amount of time and at that point the network will grind to a halt.

so IMO it could be days away, or even weeks away, but I don't think we are years away from seeing this network collapse.

of course the dev could solve this problem if he/she/they hard forked and reworked the targeting algorithm (and I hope they do because I have some coins) but until then this coin is relegated to becoming nearly worthless as a transaction currency.

I doubt it'll go all the way up to 16k, I think the difficulty has finally reached equilibrium

Diff at 4096 now.

NEXT DIFF 16384 !!!

Whats the diff at now?

The block generation time now is about 75 sec. Furthermore, the block reward will be halved every 110,000 blocks. Hence, it will still take years to mine out all 11 million coins.

Does the developer have any idea to promote this InkCoin?

It is a nice coin. I believe that the messy period has passed. The coin generation rate is normal now. I would foresee this coin will be as valuable as other altcoins with new algo. At least it should reach a value similar to Blakecoin.

So hard to MINE .

It will go much slower now when the diff is high and only getting harder.

More than 4 million out of 11 million coins already mined, that was fast.

Ok, I'm sorry that I called www.nxt-e.com team scammers, but it's so wierd when the new exchange just stop working.

Looks like they did smth with the site code and now it doesn't work in chrome. Works good on firefox!

E.g. i7-3770 (8 cores) - maybe not average, but also nothing special: I thought about average mining equipment (I do not mine with my smartphone or tablet, but they are also computers) - and my machine actually found 3 blocks within the last 10 hours, so my "maths" are not so far off real life .

PS: The problem with the rising difficulty is not, that You can not solomine it, but rather that it is not profitable any more - very likely I will stop mining INK soon.

LOOK fine on Internet Explorer 10 !!!