Topic: [ANN][MOON] Mooncoin: You know where it's headed! KGW exploit FIXED 4/3/2014 - page 297. (Read 1106887 times)

I second (third/fourth/whateverth) that call for a switch to Kimoto Gravity Well difficulty adjustment. 

In my humble opinion, it is a necessary change for Mooncoin to flourish and keep miners interested.  The unfortunate truth is that Mooncoin is worth something, and that the huge difficulty swings caused by big switching mining pools hopping on when the difficulty is low, and then ditching once it is high, is quite detrimental to overall adoption. 

Please, dev(s), seriously consider this adaptation.  Not only would it keep your average miners in the pools (we are your base!), but the update would make for great PR, and prove to the community that this coin is adaptable and being continuously improved! 

The dev will have have a saying on that since we dont have access but very well pointed out  "Credit given to sdpenaloza" from reddit.com  for the posting down below

Here is some information on the Kimoto's Gravity Well - from megacoin forums

Source: https://forum.megacoin.co.nz/index.php?topic=893.0

The Newbie's Guide to the Kimoto Gravity Well

Many of you may have heard of Kimoto's Gravity Well and that it is supposedly a major part of what makes Megacoin unique from other cryptocurrencies. However, many of you may also not know what exactly it is and what makes it so special. If that is the case, then this guide is for you.

What Is a Mining Difficulty Readjustment Algorithm, Anyway? To understand what the Gravity Well algorithm is and what it does, you first need to understand what a "mining difficulty readjustment algorithm" is and why is it important for all current cryptocurrencies based off of the original Bitcoin source code. First, let's pull a few important definitions from the Bitcoin wiki:

Difficulty Difficulty is a measure of how difficult it is to find a new block compared to the easiest it can ever be.

Difficulty Readjustment (for Bitcoin) The difficulty is adjusted every 2016 blocks based on the time it took to find the previous 2016 blocks. At the desired rate of one block each 10 minutes, 2016 blocks would take exactly two weeks to find. If the previous 2016 blocks took more than two weeks to find, the difficulty is reduced. If they took less than two weeks, the difficulty is increased. The change in difficulty is in proportion to the amount of time over or under two weeks the previous 2016 blocks took to find.

So basically, the "difficulty" of a coin determines how hard it is for miners to find and mint blocks of that coin. The more miners there are mining a coin, the faster blocks will be found and at the end of this difficulty readjustment period (approximately every two weeks for Bitcoin), the difficulty will change accordingly so that the number of coins minted will follow the intended distribution curve. This has worked well for Bitcoin (so far) because of it's extremely slow adoption rate in the early days and now because of the sheer number of miners on the network. However, this method of difficulty readjustment is flawed for new altcoins entering the market today for a number of reasons which I will discuss below.

The History of the Gravity Well Mining Difficulty Readjustment Algorithm When Megacoin first launched, it used a more traditional difficulty readjustment algorithm based off of Bitcoin's original proposal. (Author's note: I have forgotten what the original implementation was for Megacoin, but if anyone knows the details please let me know so I can put that here for perspective and history's sake.) By this time, some SHA-256 coins had already felt the pain of difficulty readjustment problems due to the influx of ASIC miners and an activity known as "pool-hopping".

If you are familiar with cryptocurrency mining at all, you may already know that in most cases, solo mining is usually impossible without extremely powerful hardware due to the large number of people now aware of cryptocurrencies and willing to mine for them. Most miners mine through pools, which provide proportional payouts of coins based on the amount of hashing power you provide to the network. This mitigates some of the risk of mining in that you receive a steady stream of coins based on your network hashing rate, so even small-time miners can still earn their share of the pie. However, as pool mining became more popular and more altcoins arrived on the market, services known as "multipools" began to appear. These were special pools that allowed miners to automatically switch to the "most profitable" coin to mine based on the current exchange rates. However, these new multipools introduced some new problems to the cryptocurrency landscape, one of those being major difficulty readjustment woes.

As Megacoin began to rise in price several months after its inception, it started to become a target for these multipools. What happens when this occurs is that suddenly the Megacoin network gets barraged by an influx of new (and very powerful) miners. This causes the block confirmation time to plummet and subsequently causes the difficulty to skyrocket at the next difficulty readjustment. When this occurs, the mining profitability also drops due to the higher difficulty which then in turn causes all of the multipool miners to leave the network in search of the next most profitable coin. What remains is an extremely high difficulty and only the "core" group of Megacoin miners left to deal with the aftermath. In extreme cases, the difficulty may be so high in proportion to the number of miners left that the entire network grinds to a halt. This has happened in the past to Terracoin and Feathercoin, among others. The only solution if this occurs is to hard fork the coin in an attempt to readjust the difficulty (or change the difficulty readjustment algorithm) or simply grind out the mining at an extremely slow pace (during which time the coin is basically unusable) until enough blocks are found to make it to the next difficulty readjustment. The more blocks required until the next difficulty readjustment, the longer this period of unusability will be, and in some cases could mean the death of the coin completely unless drastic measures are taken.

When this happened to Megacoin, Kimoto decided to come up with a better way to perform difficulty readjustment, and the result is the Kimoto Gravity Well (which is now also used as the difficulty readjustment algorithm for Anoncoin as well after it met a similar fate as that described above). And thus, we have the Megacoin we know and love today. Next I will discuss what exactly the Gravity Well does and how it works to keep mining stable and fair for all Megacoin miners and users.

Gravity Well: Explained Now that you know how the Gravity Well came to be, let's take a look at what exactly it does and how it works. At the most basic level, Kimoto has changed how difficulty readjustment works so that the difficulty is adjusted after every single block that is mined on the network. I'm not 100% sure about the exact mathematics behind the calculations, but so far since its introduction on the network the difficulty has adjusted smoothly and flawlessly no matter how many miners there are on the network and even throughout the huge price (and subsequent mining hash rate) increase we have seen over the past couple of weeks. This keeps mining fair and secure for all miners and users of the coin, and prevents the rampant multipool abuse that was (and still is) common with most all other altcoins out on the market today. This is even more important to consider when one day ASIC miners are developed for Scrypt coins and a small number of miners will suddenly have access to extremely powerful mining hardware. If and when this occurs, a malicious (or simply greedy) miner can simply point his or her ASIC miner at any Scrypt-based coin and cripple it because of the extreme difficulty fluctuation this will cause. (This is actually what happened with Terracoin after SHA-256 ASICS began to flood the market.) Megacoin, however, will be safe from this type of malicious mining behavior due to the smooth difficulty readjustment that Kimoto's Gravity Well provides.

Yes iam waiting for a reply via email or cell phone conference  shhh we should of sponsored  some team to sochi  what are we doing guys?

Any chance of Kimoto's Gravity Well being implemented?  Several other coins have incorporated it after release and by all accounts has been seamless. 

You are in my list... thanks 2bH27gif7CEqdkBeLYy7EFUuhigmH46AL9

I am trying to get in touch with the professor, jepistons will get in touch with the space camp directors to see if they are willing to setup a moonwallet for the fundraiser.

This way it is clear the money goes to a trustworthy person. It would also help that they put the mooncoin fundraiser address on their website as this will guarantee they are supporting mooncoin and there can be no doubt that the address is owned by spacecamp directors.

A list of current donors is circulating in this thread, you can write yourself in. I think oudekaas is going to contact the professor about it (read a few messages above). I suggest to receive the organization's consent first and then make a decision about the exact address where to transfer moons to.

Reply and add yourself in the list!

Dont forget this!

Eventual Donation site: http://www.spacecamp.com/scholarshipfund

Current donors

1. adsoyo - 200,000 MOON
2. madcoin - 500,000 MOON
3. Fayens - 2,500,000 MOON
4. eskamilio - 600,000 MOON
5. FiatKiller - 1,000,000 MOON
6. DRobert - 250,000 MOON
7. nosf009 - 250,000 MOON
8. vegus - 1,000,000 MOON
9. mooncointalk.info - 1,000,000 MOON
10. b4dger - 100,000 MOON
11. puvar - 500,000 MOON
12. Wekkel - 1,500,000 MOON
13. rtopz - 150,000 MOON
14. JoeRigs - 600,000 MOON
15. i8 - 200,000 MOON
16. jepistons -1,000,000 MOON
17.
18.
19.
20.

TOTAL: 10,200,000 MOON

I'd donate more but I've taken hits in Cryptos at a loss so far, especially with moon gone down in value. I've lost $3,000 in Cryptos early on and can't afford to donate more than 250,000 moon coin at the moment. I'm trying to regain what I've lost altogether...

Yes, I'm hoarding for now to see what happens and have none for sale also. Already made an awesome profit so it's fun to just let it ride.

ok. how can i make a donation?

So, guys, instead of boasting your MOON stakes, donate to the space camp.
Doges are already sending the second team to Sochi, and we cannot fund our first donation.

Mooncoin has $2,763,861 cap, we just need to donate roughly 1% of the cap and make a great publicity of it. No need to explain how it will help Mooncoin. It will help the cap to grow much higher than 1%.

If we don't do anything, other coins will come, with smarter marketing, and eat Mooncoin's cap to zero. And we will lose much more than 1%.

So give your moons first, and only then collect profit. If you're greedy and practical and don't think about children and the romantics of space, consider it an investment. There is nobody except YOU who can drive Mooncoin up. From rational point of view you really don't have a choice.

So go now and donate to space camp!

I have other altcoins investment, i don't want to sell soon, i prefer to wait mooncoin take off, i think with news and European crysis, china default 31 january, and february default USA, altcoins will rise a lot... My investment is mid-long term. If the investment go down i allways buy a little more, to have better middle price. Sell price? mmm i think like doge actual price 180-250 its good for me, i have at 16 15 14 13 satoshis on moon...


Look at this:


https://twitter.com/Drudge
http://www.drudgereport.com/
http://www.shtfplan.com/headline-news/matt-drudge-issues-warning-have-an-exit-plan_01272014
http://translate.google.es/translate?sl=es&tl=en&js=n&prev=_t&hl=es&ie=UTF-8&u=http%3A%2F%2Fwww.europapress.es%2Feconomia%2Ffinanzas-00340%2Fnoticia-ejecutivo-jpmorgan-fallece-precipitarse-tejado-oficinas-londres-20140128190701.html&act=url


Have a nice day, and remember... If you believe HOLD, never sell .

must be the same guy or team putting up these walls, earning 1 satoshi per coin through sell and buy

I wouldn't mind getting in touch with the professor if that is ok with you guys, unless someone else wants to take this up?
Thanks for those who took the sellorders out, we need to keep reminding everyone that this is the only way moon has a chance unless the dev is willing to make changes. But even then gotta lift those sell walls.

So anyone who sees potential in moon and is not using scared money please give it a bit of time and erase sell walls. You will get higher gains and since more money will be flowing in you will get a better chance to sell higher and in a shorter timeframe than adding to the massive sell wall.

I got 115 mill moon coins and could have sold at 35, I bought them on the day mooncoin went on cryptsy, I didn't as I figured it  would go alot higher. Costly mistake but I am not to worried about it, it will go up to new highs eventually. Happy to hold them longterm as long as I can see the grow of this community also I would never sell them at once. I did this with doge at 85 2 days later it topped 224... ouch.

Will mooncoin be the new currency of the moon?

Care to take off your sell bid like the rest of us? Or have you already...
Good job by the way. I didn't get to see the image you posted

I have 98millions 

Glad to here

I've got 20 millions