Topic: [ANN][THC] The Hempcoin (THC) - page 176. (Read 389166 times)

New title cards for the OP. I also sent new images to the developer to bring the "brand" consistency up to speed. Colours are easily changed, I don't think we've really agree on colours.
Off to bed. Hope the issue is dealt with soon. Glad to hear you're working on it, dev.





http://imgur.com/a/fvBUF#0

I've been really busy with work the last two days and didn't have a chance to log on here. I've notice the up and down of the difficulty and was wondering if there is a multipool mining thc. I am still working on getting an MPOS pool set up. I spent last night getting my VPS set up so I'm going to try and have the pool set up by early next week.

Thanks for that, there is so much to learn about all this stuff. Its a bit hard on a older person   but slowly I am getting to understand this stuff.

Even though I do not fully understand it all I am very excited about this whole area and the great potential that I think will be realised. Some people are laughing at me (over 50) trying to get my head around this but I say to them 20 years ago people laughed at me when I said that they would be shopping via the internet - that generally shuts them up. To all you guys who are doing these things (as long as you have the right motives and are not greedy) you could end up being very wealthy and influential in a few years time. I just hope that it turns the world upside down - we need a good shakeup lol

here is the information about POS:

https://blog.ethereum.org/2014/07/05/stake/

Thanks for being so active dev. It is nice to see.

basically in Bitcoin satoshi created something called the longest chain rule.
this means that the longest chain is the one that is accepted as valid.
the assumption is that at any time more that half of mining power is honest.
Now, if someone has so much mining power that they can create a longer chain, then they basically control the blockchain.
(I am not saying that is what happened, but it is one possibility)
so they can go back in the blockchain a number of blocks and re-write the blocks and create new ones, so that their blockchain becomes the longest and a valid one in the end.
This can also happen by accident (ie not an attack) when the network segments for some time, and majority of the mining power ends up in one sub-network.
Hope this makes some sense.

No, we should not do that.
There was a paper published yesterday highlighting a flaw in POS that allows attacks

OK can someone please explain what has happened in simple terms? 

To me it seems as though someone has thrown some hashing power at the coin and caused all kinds of problems, however I don't quite understand why it would cause a problem - isn't that the point of "mining" for coins? Sorry if this is a dumb question

Currently working on a complete check pointed wallet with extra check nodes. While recompiling we are spending a little time to try a coin control wallet again.

We are on it. Thanks for all your feedback. Update soon.

I never thought of changing the coin maturity but I like that idea as well!  The crypto community is like a pumped up classroom full of kids with sugar highs.  45 days is almost an eternity in the crypto world.  I'm not saying we should look for fast profits or anything like that..  But changing this might help bring in more community members over the short term.  Our goals can't all be long term or the coin will die before it gets there.

In a perfect world POW would secure our blockchain well but when you don't have many miners and it's one guy with 400MH and 10 guys with 0-4mh we're going to run into these things problems.  I believe strictly POS has it's drawbacks as well but I'm not totally sure what they are.

We have an online wallet that fartbags created. Could we not use it to do a swap to x11?

I would also vote to go full POS.

POS only.... hmmmmm, sounds interesting, what does everyone else think about it ?

I have liked mining hemp and would miss it if it was POS only, but ensuring a stable block chain is much more important than my mining preferences.  This is a big change, but we definitely need to find a way to avoid more events like what happened yesterday.  I lost about 75k coins due to this.

another idea... just thinking out loud and not sure if it would even help.

My understanding of the POS in a POW/POS coin is that it should help against attacks like this(was this an attack, who knows, but that's what I am calling it for now) , correct... maybe ?

but it doesn't seem to be helping us out.  I wonder if it is because the maturity period is too long (45 days).  with this long of a maturity period, there is probably a lot less coins actually staking blocks.  Is it possible to lower this time period significantly ? say like all the way down to 8 hours ?  this way there should be a lot more POS blocks getting generated and thus making an attack harder to implement.

I like the significance/reason behind the 45 day maturity time period.... but would not mind changing it if it helps the stability of the block chain.

any thought comments or confirmations that a change like this would actually help or not.

The more miners we have, the less chance of this happening.   I haven't seen that happen in a long time and I believe it's because of the one large miner that keeps hitting the coin every now and again.

If the blocks changed to unconfirmed then no, there is no way of retrieving your coins. If the blocks aren't valid the minted coins aren't either. :/

If we wanted to change algo's we'd probably have to setup with exchanges to do a coinswap like SAT -> SAT2 recently did.

I had the same thought about dropping the POW soon instead of waiting for money supply to be over 250m coins.  It would stop the constant miner dump.  Personally I think 100+ million coins is plenty.  If there was a vote to switch to POS only I'd be a "yay".

The dev told me that switching from scrypt is not an option as of today. All the hashes are in scrypt so you can not remove scrypt. The only option that is maybe possible is to become a scrypt & x11 mined coin.


Should we just end the POW and turn this into a POS only coin? Would that stop this difficulty fluctuation problem?

I am pretty sceptical about continuing to mine after watching 16750 thc that I had mined (and confirmed) vanish into thin air!
16000 of it was on Bittrex, and both my local wallet and bittrex just went to 0.
What happened to that? Is there any possibility of retrieving it?

I wondered if it was a 51% "attack"  as well but I'm not confident enough in everything I know to come out and say it.   I've watched the hashrate go from 50MH to 500 MH for the last week, and it doesn't steadily go up and down.  It's either under 100 or over 400MH which leads me to believe it's one miner with all that hashrate.. That being the case this won't be the last time we see things like this until we can secure the network with more distributed hashing. 

If I had the cash I'd buy some asics but I'm still trying (LOL) to get ROI on $5k worth of gpu's that I probably should have never purchased...

I still think scrypt has been a poor choice. All it has done is allowed ASIC's to dump daily to keep the price down (which I guess is good if you are accumulating) and leads to 51% attacks. GPUs can't mine scrypt in the summer. Please remind me what the benefits are?

I have rented a nice chunk of hash and have it directed at hemp as well.  The more people we have mining it the more secure the chain will be.  if your upset the market is closed at Bittrex, well then just mine yourself some hemp instead.

Does your Crypto Community need a place for live chat ? Forums or even a Marketplace ?

CryptoConnecta.com
Social Network - Forums - News Desk

Android App Available on Google Play : https://play.google.com/store/apps/details?id=com.crypto.src

We have been working on Crypto Connecta to assist in bringing together all crypto currency communities in one place as a central hub for all Crypto Currency news and discussions.

Crypto Connecta Features

SSL Encryption
One account for access to the 3 main sections of the site.... Social Network, Forum and News Desk.
400 Characters for status updates
Respectful of your Privacy - Usernames displayed not your Real Name and your date of birth is not required. (No personal Info required to use)
Live Chat across the site with other online users and chat rooms for topical discussions
Responsive Website for viewing on mobile phones & Dedicated Mobile Menu for using the Forum
Guest News Desk Authors from Established Crypto Currency news outlets (Contact us if you want to get involved)
All Crypto Currency communities welcome with a feed of live coin prices on the activity stream
Linked to our sister site Crypto-Auctions.com (A Separate account is required)


https://CryptoConnecta.com