Topic: [ANN][SCRYPT] KlondikeCoin ★ Cryptsy.com ★ Prepaid VISA Cards ★ 0% Premine [KDC] - page 170. (Read 554419 times)

Jackdminer,

You have a point, but then again you also don't have a point. It all based on supply and demand, we reduce the supply, but we didn't increase the demand. We are now in process to increase demand by adding new websites that allow Klondike coin as a payment method. Klondike coin will have some hard moments, maybe several weeks, but the pipeline is really impressive, and there are a lot of coins were you now earn only $5 per day, really a lot of them. So moving to another point is not really a smart option, as we have reduce the speed of new coins added, other coins didn't, so if the bear market finished then Klondike coin should be in a better position.

Surely the massive reduction in network hash was anticipated with the drastic reward reduction. Proof of work isn't free for the miner to generate you know.  
1Mh/s is worth ~$4 USD/day.  

The drastic reward reduction will not support a large network hash at current prices, and reward reduction will not significantly improve the coins value.  

I am calm, but the relationship of reward and supported network hash should have been well understood before the fork.  

Let us define a few things:
(R)eward per day of the network in KDC
(V)alue of KDC
(H)ash rate average day of the network in Mh/s

(1/H)*R = KDC mined per day of 1 Mh/s assuming 0 variance.

Before Fork and fork hype KDC these were the mining conditions and made me a happy quiet KDC miner:
R = 110880
V = .000034 BTC
H = 450

So 1 Mh/s running 24 hours is calculated to earn 246.4 KDC. Of course this is without any payout variance but that's beyond this scope.

The short story is 1Mh/s could earn $5 a day give or take more reliably then most coins with a decent market on CoinedUp.


If hash rate remained unchanged with the new reward (R)eward of 20160, 1 Mh/s avg/day earns 44.8 KDC or 94 US cents.  Certainly there are several liquid markets that reward proof of work more favorably, so workers will just move to the higer paying jobs since there is no barrier to employment aside from finding and switching pools.


The current conditions of  H = 180, V = .0000362 yields 112 KDC ($2.50 USD), suggest that the smart workers already took new jobs and it is just a matter of time before other market participants catch on.

So one of two things will happen to the net hash

1) hash rate reduces to 80~90 total net hash to support the rate of pay for proof of work currently offered by other coins.
2) the hashing power of the community exceeds the competitive value for the proof of work resulting in consolidation of network hash in just a few pools jeopardizing security, and hording of coins creating illiquid markets.


I say all this not to slam the coin or be a 'Debbie downer', but rather this was the first coin that seemed to not ride the difficulty / payout roller coaster and had a CoinedUp market with enough price volatility and liquidity to create an entertaining and profitable 'next step' of exchanging the coins. Of course up until the Whale came in Thursday or Friday with large BID sizes freezing the art of price discovery

With the new reward so small the only way to increase hash rate is to increase the coins value, but that doesn't just magically happen because the reward was reduced.  Absent outside market demand the devs are going to have to open their wallets and buy every offer up to .0001 BTC just to sustain a network hash of 250 Mh/s.  

 

It is good calculator frm cointweak or from coinwarez?
 

Read the last pages DO NOT MOVE COINS AROUND, WAIT FOR THE NEW WALLETS!!!

Regards
Jilixi

the new wallet was not yet released. if you can able to build the wallet with latest source code, do that and use that nodes, otherwise wait for the wallet as we are doing.

What are the latest nodes? I am currently using
addnode=37.59.28.23
addnode=162.243.255.143
addnode=88.208.205.38
addnode=88.208.205.216
addnode=88.208.206.55
addnode=88.208.207.68
addnode=88.208.207.73

...but the 1st page announcement only shows 3 and when I populate them, the wallet wont sync... Am i to assume these are invalid now?

you got a time estimate? LOL my coins want out of the pool 

I tweeted them earlier this morning.



The wallets in the process of compiling, this usually takes a little while, we'll then test it and upload it for release.

did anyone contact coinmarket.io? They are due to be back online sometime today.

delaying official wallet may lead to a  fatal mistake. we may lose miners.  !!!. it is after the wallet we need to put our combined effort to get kdc to reach next aurora.  if we can create a big  hype like doge by social media and advertising ---> things will go unpredictable [ you may able to buy a pendrive for 0.1 kdc ]

Please also make sure Poloniex, Swisscex, Coinmarket.io, and Coin-Swap.net are informed and updated as well.

+1

We had a bad fork, we are at IRC if you have questions #klondikecoin @ freenode

dude you can read right? scroll a few pages... 

what happened with kdc ?? we are not on coinedup and i cant download the wallet from the new website

We have mailed Coinedup that new source code is available, Windows Wallet is being compiled (You can compile it yourself if you want)

It has been one day since fork how about you calm down and lets settle one thing at a time?

We have taken every step we had to take after this bad fork happened, we can only wait to get added back at Coinedup.

Kindest Regards
Jilixi

Yes, and no. There are so many coins with hash power less then 100Mh/s, Grumpycoin, Suncoin,.... we all believe that hashrate will move up, why? Because we are adding more and more new services.

It is the responsibility of DEV, marketing people to make sure that we can reach out and find new miners to increase the hashrate back to 400Mh/s. Maybe we will have a few hard weeks/or months, but that doesn't mean that there is a huge risk of failure.

How do we go about getting CoinedUp to resume trading?

Is there a fixed Windows wallet?

The new reward/coin price appear to put the coins security in jeopardy due to the fact that miners to not give away hash power and now the coin can not attract a large enough diverse enough network hash given the current reward.

Assuming the benchmark pay rate is Litecoin, the new sustainable net hash for KDC will settle out at 100 Mh/s or so with the price @ .0000365 on Poloniex (excluding the .2% exchange fee).

The next time a fork is planned, it might be a good idea to playbook it with the other stakeholders including the exchanges, and pools comprising 70% of the net hash.

What will be done to address these fatal issues that now exist?



  

If AuroraCoin can move that high, then Klondike coin can do that too Even only 10% of the value of AuroraCoin would be nice