Maybe change standard "halving" to other algorythm, new, and smooth?
After 11 millions spots divide block reward by 2 and then each 20-50k blocks change reward to 90-95% of previous reward (ceil to 0.25spt)?
Topic: [ANN][SPT] - Spots - Cryptsy | Fork 9/19 | Scrypt | Introducing Reward Reduction - page 14. (Read 93387 times)
September 07, 2014, 02:54:25 PM
September 07, 2014, 01:39:32 PM
Does anyone have any concerns with moving forward on reverting back to Scrypt and introducing block reward halving?
I don't want to upset anyone by making assumptions, but I think the community is fairly small at this point. Just want to make sure...
Also - Thanks to Matory and Testing Crypto, our OP has been updated and spiced up with some nicer graphics and a new layout. Thanks guys!
I don't want to upset anyone by making assumptions, but I think the community is fairly small at this point. Just want to make sure...
Also - Thanks to Matory and Testing Crypto, our OP has been updated and spiced up with some nicer graphics and a new layout. Thanks guys!
I like how Spots working now. Halving block is the best solution for me. I propose insert half block every 11 million coins.
With 1block=24SPT next half is after ~1 year from 11 million coin date.
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September 06, 2014, 08:21:52 PM
Does anyone have any concerns with moving forward on reverting back to Scrypt and introducing block reward halving?
I don't want to upset anyone by making assumptions, but I think the community is fairly small at this point. Just want to make sure...
Also - Thanks to Matory and Testing Crypto, our OP has been updated and spiced up with some nicer graphics and a new layout. Thanks guys!
I don't want to upset anyone by making assumptions, but I think the community is fairly small at this point. Just want to make sure...
Also - Thanks to Matory and Testing Crypto, our OP has been updated and spiced up with some nicer graphics and a new layout. Thanks guys!
September 06, 2014, 08:09:15 PM
Are you still connected enough with CoinPayments.net to get that upgraded without a problem?
Yep, no problem there.
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"Change is the only constant." -Heraclitus
September 06, 2014, 08:03:48 PM
For the block halving... I would say to just enable halving at a regular rate, maybe the first one starts with the fork and continues at that interval? Just so it doesn't continue on indefinitely?
Open to suggestions from anyone. I think the important thing is implementing it...
Open to suggestions from anyone. I think the important thing is implementing it...
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"Change is the only constant." -Heraclitus
September 06, 2014, 07:54:46 PM
go back to regular scrypt
then it will be beaten by multipools + ASICs...Yeah, but it's being beaten by multipools right now anyway.
That's a good idea... We'd still be vulnerable to the Scrypt multipools, but there are more coins in this algo to be compared against. All the original altcoins are still mostly on Scrypt.
I'm down for anything, I would just want to make sure that the exchanges and payment services had enough time to review / upgrade. We were offline for a few weeks for the last fork.
But, we're in a better position now... You've got the alert key for the client and I scroll back in the forum, we've got the Cryptsy contact as well. Are you still connected enough with CoinPayments.net to get that upgraded without a problem?
September 06, 2014, 02:50:15 PM
go back to regular scrypt
then it will be beaten by multipools + ASICs...Yeah, but it's being beaten by multipools right now anyway.
September 06, 2014, 12:33:00 PM
go back to regular scrypt
then it will be beaten by multipools + ASICs... September 06, 2014, 12:20:01 PM
We can always go back to regular scrypt, even adjust the block rewards to a lower or halving algorithm.
September 06, 2014, 11:31:31 AM
OMG. Under "until other 2-3" i mean "while other 2-3"... English is not my native language but russian (and ukrainian, but now i wish to forget this, no more ukraine to me because all ukrainian symbolic etc are fascist now).
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September 06, 2014, 11:11:43 AM
So, until other 2-3 scrypt-n (that this multipools working with) coins are worth nothing spt will be at the floor according to this?
At cryptsy i see 726k for selling. Holders are waiting something or buy and forgot. Maybe there are still 1-3 biggest holders that are continue buying now (as few other coins that have very low liquidity). Buy for nothing then will make thousands of %%. When they will have a most of coins then drive it up crazy and drive bots and traders to the point they need. 10 month of falling. Didn't record statistics for a few month here but it can be interesting.
At cryptsy i see 726k for selling. Holders are waiting something or buy and forgot. Maybe there are still 1-3 biggest holders that are continue buying now (as few other coins that have very low liquidity). Buy for nothing then will make thousands of %%. When they will have a most of coins then drive it up crazy and drive bots and traders to the point they need. 10 month of falling. Didn't record statistics for a few month here but it can be interesting.
To answer your question, it's actually the opposite... Until the other Scrypt-N coins are consistently more profitable to mine, the multipools see any increase in our value and switch to us and mine / dump until the value has been pulled from our economy.
In general, our value is falling at a rate (more or less) equal to the inflation. 48 new SPT are being introduced in to the market every 70 seconds. This is putting downward pressure on the market at a steady rate. It's the same problem with all PoW coins, and why you see more PoS coins now-a-days....
Normally, you could combat the inflation by using PR tactics / giving the coin a purpose / pushing to have it accepted for services / etc... In this case, any attempt to raise the price is hit with a ceiling being caused by the Scrypt-N multipools. Once we exceed the profitability of mining Execoin or Vertcoin, they switch to us and mine / dump until our value is diminished and one of the others is back on top.
September 06, 2014, 08:18:09 AM
So, until other 2-3 scrypt-n (that this multipools working with) coins are worth nothing spt will be at the floor according to this?
At cryptsy i see 726k for selling. Holders are waiting something or buy and forgot. Maybe there are still 1-3 biggest holders that are continue buying now (as few other coins that have very low liquidity). Buy for nothing then will make thousands of %%. When they will have a most of coins then drive it up crazy and drive bots and traders to the point they need. 10 month of falling. Didn't record statistics for a few month here but it can be interesting.
At cryptsy i see 726k for selling. Holders are waiting something or buy and forgot. Maybe there are still 1-3 biggest holders that are continue buying now (as few other coins that have very low liquidity). Buy for nothing then will make thousands of %%. When they will have a most of coins then drive it up crazy and drive bots and traders to the point they need. 10 month of falling. Didn't record statistics for a few month here but it can be interesting.
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September 06, 2014, 06:39:25 AM
It's a good coin that has been around for a long time. It still serves it's purpose, as well. I will randomly get orders for silver metal through the exchange.
As far as mining / trading for a profit, I think that the block reward not halving or phasing out has done a disservice to the coin. But, I'm not a fan of forking it again... It took weeks to get the exchanges back online after the last changes.
If we did fork it though, I would begin phasing out the block reward and change the algo... Scrypt-N was a popular alternative to Scrypt when we forked the coin. But, I do agree, it is very resource intensive compared to new alternatives. We're also being mined by Scrypt-N multipools that are bouncing between 3 or 4 like coins. Every time we start to increase in value, the multipools switch to us and drop us right back down...
As far as mining / trading for a profit, I think that the block reward not halving or phasing out has done a disservice to the coin. But, I'm not a fan of forking it again... It took weeks to get the exchanges back online after the last changes.
If we did fork it though, I would begin phasing out the block reward and change the algo... Scrypt-N was a popular alternative to Scrypt when we forked the coin. But, I do agree, it is very resource intensive compared to new alternatives. We're also being mined by Scrypt-N multipools that are bouncing between 3 or 4 like coins. Every time we start to increase in value, the multipools switch to us and drop us right back down...
September 04, 2014, 08:38:31 AM
I've calculated real capitalisation of SPT.
It's 465.13$.
Till the end of buy orders there are 0.97653947 BTC worth of 6520572 SPT.
Now 0.97653947 at btce @476.3 is 465.13$.
Why are miners dumping? Mining 0.0001$/day? LOL
))
It's 465.13$.
Till the end of buy orders there are 0.97653947 BTC worth of 6520572 SPT.
Now 0.97653947 at btce @476.3 is 465.13$.
Why are miners dumping? Mining 0.0001$/day? LOL
)) September 04, 2014, 07:17:07 AM
coinmarketcap
367 Spots Spots SPT $ 2,719 $ 0.000264 10,284,913 Low Vol -0.10 % -7.32 % -17.15 %
367 Spots Spots SPT $ 2,719 $ 0.000264 10,284,913 Low Vol -0.10 % -7.32 % -17.15 %
August 31, 2014, 09:46:58 AM
ScryptN is just too hot and might do harm to GPU
August 31, 2014, 09:35:57 AM
Wow. And what it means?
Let's see. Oh. Price is 61 now. Crazy. Last time i watched it was near 150. Hmm...
Let's see. Oh. Price is 61 now. Crazy. Last time i watched it was near 150. Hmm...
August 31, 2014, 08:05:09 AM
Happy 10 million SPT anniversary! Swiftly road to wonder future! 
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August 12, 2014, 06:45:10 PM
Hello out there! I see trade activity and mining has picked up a little bit over the last few days. Anyone have ideas on why? It'd be nice to keep it going and build on it.
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August 05, 2014, 11:56:36 AM
Change difficulty drop rate, but leave difficulty raise rate. But this will change client... 
When multipools will jump off the coin - the diff must be dropped slower than now.
You tried to protect coin from multipools when changed to scrypt-n algorythm... as i remember.
When multipools will jump off the coin - the diff must be dropped slower than now.
You tried to protect coin from multipools when changed to scrypt-n algorythm... as i remember.
We have very fast difficulty adjustments so that the coin isn't taken advantage of by multipools. However, when a multipool throws 100 mh/s at a network with only 25 mh/s they are going to earn the majority of the block rewards until the environment changes. I can't think of a way to change this...
The KGW was introduced to ensure multipools didn't wreak havoc on our difficulty levels when they did hit our network. Scrypt-N was introduced to mitigate risks associated with Scrypt ASIC's that were being reported to ship in Q3 of this year.
The last thing we need is another fork right now... Unless we are certain that the changes will be effective.
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