Topic: [ANN][SCRYPT] KlondikeCoin ★ Cryptsy.com ★ Prepaid VISA Cards ★ 0% Premine [KDC] - page 34. (Read 554482 times)

Sorry but we don't want to get on your exchange.

Thanks anyway.

look dude ..... There is 1 thing AND ONLY 1 thing that make hashrate increase .....

.. not community
..not belivers ...
..not investors


ITS PRICE

There is actually a faction on these very forums that are actively targeting what they consider weaker coins and doing whatever they can to destroy those coins. The increase from 19.9million to 20.4million total coins is only about 3% when all is said and done so I don't think it will be a very big deal in the long run. However, if we lose half our net hash again (like we did during the last 2 halvings) it isn't going to take very much for someone to implement a 51% attack (around 10-25MH if we drop from the current 50-100MH we have been seeing the last week or so.)

We really haven't seen any benefit at all from the last two reductions in rewards (I know a lot of factors play into this but we have been on a constant downward slope) so it doesn't seem prudent to me to continue on with the next one when our net hash is already very low. I think we can easily survive a 3% increase in total coins, however if someone were to 51% (even if tberes only a 1% chance this happens I still think its worth waiting on the next block reduction) attack us I don't see anyway we end up surviving

Gridseed .... they only mine LTC and doge ...... just saying

KDC_Dave,

Btw, as G440T and myself have applied for the positions of content editors, can you manage to give us access to the thread please? I would like to update the pools, elaborate the reward structure, change the klondike.conf into klondikecoin.conf, and so on. No big stuff but necessary and annoying for the newcomers.

Thanks

In my opinion i would leave the block reward as it is now because of the Gridseed ASIC's getting more and more attention.
Once they are cheaper and we may get even faster ASIC's we wont have these 51% attack problems anymore.

Looks like price is slowly starting to rebound.

Since we are going to require a hard fork to fix the issues with KGW, I think it might be a good idea to also think about pushing back the next block halving for 5-6 months to give us time to build to an equilibrium price and gain a solid mining foundation. If the net hash drops much lower we will be a prime candidate for a 51% attack which could ultimately destroy the coin.

I think we should change this:

              day          block to halve at             reward after halving
               0             84576                                16
               30           127776                               8
               60           170976                               4
              1520         2273376                             2
              2250         3324576                             1
              3345         4901376                            0.5
              3777         5522934                             0

to this:

              day          block to halve at             reward after halving
               0             84576                                16
               30           127776                               8
               240          302400                               4
              1520         2273376                             2
              2250         3324576                             1
              3345         4901376                            0.5
              3777         5522934                             0

This will leave the revised reward structure in place for everything except for the next halving. We have already had two halving's in the last 6 weeks or so and our net has has taken a considerable beating because of it. We need to give the markets a chance to stabilize before we go through another one.

Quote from the DRK dev... whom I understand was the developer or at least the most prominent promoter of X11...

https://bitcointalksearch.org/topic/m.5935102


That in a nutshell tells me that choosing X11 for its ASIC-resistance is not a sound choice, as it appears the developer's true intent in designing X11 was only to delay ASIC's while still being ASIC-centric.

KDC should be embracing ASIC's... it will be the only way to secure the blockchain now and in the long-term.

Quote from the DRK dev... whom I understand was the developer or at least the most prominent promoter of X11...

https://bitcointalksearch.org/topic/m.5935102


That in a nutshell tells me that choosing X11 for its ASIC-resistance is not a sound choice, as it appears the developer's true intent in designing X11 was only to delay ASIC's while still being ASIC-centric.

KDC should be embracing ASIC's... it will be the only way to secure the blockchain now and in the long-term.

The whole point of X11 is to try and get the same network growth cycle as Bitcoin. Once Darkcoin is worth enough, people will invest the capital to create the ASICs. I never really had an issue with that, in fact that was the point of creating a new hashing algorithm, I think it will be healthy in the end to move to ASICs.

There is substantial evidence that DGW KGW is susceptible to this exploit, but that does not mean that KDC is necessarily in danger. In fact, it would take significantly more effort to attack KDC with the DGW KGW exploit than to mount a good, old fashioned 51% attack.

The DGW KGW exploit is only attractive when targeting a high difficulty, high hash-rate network where a 51% attack would be impossible or nearly so, because the DGW KGW exploit only requires about 20% of the network hash-rate to be effective. So yes, someone could attack KDC using 9Mh/s(20% of 48Mh/s), but extremely unlikely as it would be simpler and more effective to just mount a 51% attack.

The whole DGW KGW exploit is a false 'panic button' being pushed at the moment.

Does a DGW KGW fix need to be deployed... yes... but there is no real rush. It was critical for AUR and POT as those coins are becoming active trading pairs for many coins, especially in the wake of the Cryptorush debacle where POT was one of the primary coins used to liquidate frozen BTC and LTC wallets.