Topic: [ANN][SPT] - Spots - Cryptsy | Fork 9/19 | Scrypt | Introducing Reward Reduction - page 12. (Read 93387 times)

i think you add it the wrong way lololololo

I'll add +1 to the abort vote for you.  Thanks.

weell
i cant vote, probably because i dont post to much
still i think for now the best is keep the coin as it is

I'm going to put a poll up to allow folks to vote on this.  I will close it at noon GMT (8am EST) on Thursday 9/18.

I'm asking you again dont do the fork
Summer is gone, and as we say in the stock markets " sell in may and go away".
Now you coin is , as i say before, recovering the hasrate
the price is recovering
do everything  for satbility, thats the more important thing to do.
The only thing thing that make sense is some slow reward cut, but not now, maybe by the end of the year
Leave spots as it is
please

We must create new tickets.
Cryptsy support not responded to me too.  

They are mostly always somewhere in other galaxies and not answering. It's a cryptsy (c)

I'm starting to have second thoughts about moving forward with the fork.  The community has gone dark and I haven't heard anything back from Mullick @ Cryptsy regarding the client upgrade.

What do you guys think?  I'm not sure the coin can live through another fork, especially one that is slow to catch on...

If we leave things as-is, we will continue on a steady decline...  The market has shown us that over the last several weeks.

The decision to revert back to Scrypt is not an easy one.  However, I think it is the right choice.  The newer algos are all experimental, and come with their own pro's and con's for each one.  The biggest con being that multipools compare coins in the same algo to determine which one is the most profitable to mine / dump.  Scrypt has the larget "sample" to choose from, which will give the coin some room to grow and increase in value.

I'm sorry you feel it is time for you to move on.  We wish you luck as well. 

Scrypt? Realy? another fork? Seriously?

I came to this coin when it changes to scryptN, and this is a huge mistake
this will make this coin just one more coin
If you really want  to avoid multipool , look ad DMD , that was a successfull fork , with a energy efeicient algo , or look a FTC/PXC  and neoscrypt , they are bulding their on solution

In the last weeks coins are recover the price , look at murraycoin, execoin,pxc  , even SPA is signaling some pump

another fork will kill this coin .

For me , i'm dumping all my coins and move on

I wish you the best off all luck.

best regards
Porfirio

Ye!
1. Take off you old wallet.
2. Copy wallet.dat to safe place.
3. Start new SPT wallet and wait while sync.
4. Enjoy!

Do I need to download a new wallet and just copy over my old wallet.dat file?  Is there a date I need to do this by?
Cheers

Fine.
Please add .rar/.7z archive with winqt .exe (there is nothing to install but some people didn't like any unneeded actions in software, like me... i'm installing at main machine only software that can't run without full installation) If you have 3 minutes to pack all .exe/.dll

OP / Webpage Updated!

New clients are here:
- Linux / Daemon Source (v2.0.0.2 Fork) - http://github.com/theSPT/spots2
- Windows QT (v2.0.0.2 Fork) - Click Here
- Mac QT (v2.0.0.2 Fork) - Click Here

ANNOUNCEMENT -

As the cryptocurrency environment is constantly changing, any coin that hopes to be successful and have longevity must adapt to changing market conditions.  In the spirit of adapting to changing conditions, the development team is making the following changes, effective Sept. 19th.

Please see the OP for instructions to upgrade to the latest client and be prepared for the upcoming hard forks.

Change 1 -

Spots was originally designed to not have a block reward halving.  In reading some of the older archives, iGotSpots had made the assumption that the price would continue to raise indefinitely and thought that by not introducing a halving that the price could be made to stay static by keeping a steady amount of new coins coming in to circulation.  The goal with this was to keep a steady SPT / Silver or Gold price point over a long period of time.

What has happened, is that the demand for the coin has slowed because the altcoin market is simply flooded.  Now, a block reward that never phases out is placing downward pressure on a market that isn't able to combat it.  To solve for this, and still try to remain true to the original concepts, we are introducing a "smooth reward phase out".  The block reward will be reduced to 24 SPT at Block 230,000 and reduce by 5% every 48,000 blocks.  To ensure network security, the reward will never be less than 4.5 SPT.


Change 2 -

When our team took over Spots, there was a fear of Scrypt ASICs and how they would impact the marketplace.  We introduced a change to Scrypt-N, which has presented another set of problems.  In the Scrypt-N arena, we have seen significant downward pressure from multipools that have only a few Scrypt-N coins to compare against.  The mining software is also specialized and more difficult to use.

The feared "Scrypt ASIC invasion" wasn't as significant as we originally feared.  As a result of this, and other factors, Scrypt-N never gained mainstream popularity.  Reverting back to Scrypt places us in the same arena as many other popular altcoins like Litecoin, Dogecoin, Feathercoin, and more.  As such, we shall be reverting back to Scrypt effective Sept 19th at midnight GMT.

Over the next day, or so, I will release the links to the new version.  Thanks to all!

9 days enough, if pools and exchanges will receive update soon.
I'll gouge Cryptsy support everyday!

That sounds good to me.  Maybe even a little further back, to give everyone ample time to upgrade.  I am having nightmare flashbacks to the last hard fork.  But, that was more of a "take over"...

Yeah, it's been done before; I can't seem to recall which coin I saw doing it though.

How far out do you guys want the hardfork to be? If you want to use a round number like block 230,000 that would be about 9 days from now and give people/exchanges/pools time to upgrade.

Never seen this before and don't understand why noone did this before.
As you wish. You can call it as you wish.

With this params i have bottom at 4.75.

Ok, I've implemented an algorithm based closely on that formula. Block reward starting with 24 reducing by 5% every 48k blocks then rounded up to the nearest 0.25 SPT. Eventually bottoming out at a block reward of 4.5 SPT.