Topic: [ANN][PI] piCoin - The Math Cryptocurrency - Just Launched, Now on 3 Exchanges - page 23. (Read 81515 times)

Selling 99800 picoin at 0.00002 each

To everyone mining at pi.hashing.at:

The block confirmations are very slow on this coin, even though it requires only 30 confirms, the system won't process the payments because of the high unconfirmed amount.

This being said I have manually processed all the manual & auto payments.

So if you've setup a manual or automatic payment and didn't receive it yet, please let me know.

Around 700,000+ PI were paid in this batch.

You can see the block statistics here: http://pi.hashing.at/index.php?page=statistics&action=blocks

Thank you, very useful post.

Though bearing in mind the highlighted bit - where are the coins already on the exchanges coming from?  The premine I guess?

Edited to add: On re-reading I realise it is because you have confirms set to 120 and others probably at 60 or even 30.

Pi.allcoinz.com

Confirmed   0.000000
Unconfirmed   14,075.092261

Pi.sumpool.com

Confirmed   0.000000
Unconfirmed   10,668.978704

I'am done with this PIcoin. Time to move on, no more time wasting.

PEOPLE PLEASE STOP PANICK ABOUT POOL SCAMS

DO YOU KNOW WHAT IS A "CONFIRMATION" IN CRYPTOCURRENCY WORLD?

POOL WALLETS DO NOT RECEIVE COINS AS SOON AS THEY FOUND A BLOCK, THEY DO IT WHEN THEY'RE MATURE, WHEN THERE ARE X CONFIRMATIONS ON THE NETWORK.
(120 IS STANDARD, COINS DEVELOPERS MAY CHANGE THAT)


Q) WHEN DOES IT GAIN 1 CONFIRMATION?
A) AS SOON AS NEXT BLOCK IS FOUND!



Picoin was released to the public 12 hours ago, around block 750.
My pool was the biggest at launch, and found its first block at number 761. Luckier/unluckier pools are in similar situation cause launch was fair.

We're now on block 827.  Coins are not mature yet for pools software (its set at 120, even if coin is 30 or 60 or 90, pool admin may change that parameter, not suggested by software devs beacuse of tecnichal details you do not care about)


You should focus on: " wtf, 12 hours and the first block found by the first pool is not confirmed yet??" NO IT' S NOT (53blocks to go , so 67 found)
And first mins my pool was very lucky, found 4 blocks in 18 minutes.

Why?
Because diff retarget is screwed. Network should find 1 block every 6 mins on average (even less to tell the truth but lets keep things simple), 10blocks an hour, 120 in 12 hours.


I'll lower confirmations to 60 as soon as I'm back to the pc on pi.internetarena.it btw.

Blocks take up to 30 confirmations to fully mature. We can't confirm that this is the cause of the issues you're experiencing, but it very well might be the case. The block time for piCoin is slightly longer than most coins, so this may be more noticeable than usual. We can't confirm either way though as we do not have enough specifics.

Chill down a bit bro

I've gotten 7k confirmed coins from hashing.at.

The blocks needs to be confirmed before payout is executed.

Yep, I'm encountering the same issue with pi.hashing.at, confirmed coins in my balance, accepting manual payout, but no payout occurring to my wallet!!!

UPDATE:

Finally did receive payout from pi.hashing.at!

Not sure why it was so slow (coins were confirmed and in my balance).

Guys the block time is very long on this coin, thus confirms take much longer than other coins.


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In this particular pool blame, not the coin. I can confirm that I received coins. Here are the details of the transaction:

It finally got a block.

pi.hashing.at doesn't seem to be paying - auto payout over threshold on confirmed coins and manual payout not doing anything.

Don't want to add to the crap on this thread but this coin really has had an unfortunate start it seems.

Have to give credit to Bondni. 40k coins just appeared in my wallet. Nice one.

Might hop back there now.

THIS ONE DOES :-)

Ok, well, with all the controversy, which pools work?

Sorry but there is not such a thing as "network time to setttle" with difficulty retargetting every 1 block (and no +-xx% limit)

userpacman1,

You need to get the network time to settle. It's only been a few hours since the difficulty spike due to a heavy amount of miners jumping on the network.

I'm not a math genius, but you told us block time target is 314 seconds.
Would you kindly tell me average blockfind time of last 20-30 blocks?

Create your picoin.conf file in your appdata folder, and put this in it:

piCoinProject beat me to it.

Yes, blocks have been taking a bit long to get solved. piCoin is meant to be mined out over a longer period of time than a lot of new alt coins these days, but we do understand the the current block rate can be too slow at times. We're going to evaluate it over the next several hours and if necessary we will come out with an update. The difficulty has been pretty steady at 50 for the past 30 blocks though so it's very possible that no updates will be necessary. Except for blocks 780-783 blocks have been solved at a solid pace.


Please add the config file to AppData/Roaming/piCoin

piCoin.conf: