Topic: [ANN][THC] The Hempcoin (THC) - page 92. (Read 389163 times)

If it takes 5 years for THC to get popular... POW mining would look like a scam to me. After 10 years POW is just stupid. Better even out the block rewards over the next 15 years and have minimum 1 coin reward for the next 100 years.

Are you thinking that we should drop the POW block reward and extend mining more evenly over the next 20 years?

I found a blockparser for bitcoin that tells exactly this in one of the features:
https://bitcointalksearch.org/topic/blockchain-block-parser-for-pos-or-powpos-coins-940541

I wonder if it works for POS/POW coins though.

I think halving is kind of a dumb idea. Why do people do it? at some point when we get down to 1 coin block reward it should never go below that. There should be a point where block halving stops. Sometimes people even increase the block rewards.

Another thought,

There are still lots of hempcoins left to be mined. I think this was really good. We can now extend the POW mining period for a long time. My thought is to decrease block reward to 10 coins for the next 3 years. Then 5 coins for awhile. Then back into a block halving.

I see some benefit to allowing miners to successfully mine coins for many years without there being a thought that they "missed out" because they didn't mine earlier.


future years on current schedule:
1 -> 62.5
2 -> 31.25
3 -> 15.625
4 -> 7.8125
5 -> 3.90625
6 -> 1.953125
7 -> 0.9765625
...
10 -> pretty much 0


I think cryptocoins are still 3 to 5 years away from being something huge. I want there to be something to mine at that time when hempcoin really needs POW miners.

OC is 14 min 28 max and we have the problem of the mini-fork. Since April of 2014, we only had forking problems just recently, as yes it was due to a large amount staking as bocyaj was getting at. But we must prepare for that instance if 100% PoS. Having a longer min age would possibly cause the blockchain to stall for (possibly) days from lack of staking, as well. I agree PoW/PoS combo is best, we may need to have a real low block reward of 1 (or a few more?) THC when the real PoW is done, just to help ensure PoW stays active, while still mining for TX fees as the bonus.

Addition: if PoW/PoS combo, then min age doesn't make a difference.

First step would probably be making XML (or whatever machine-readable) file with all non-zero balances. Then publishing this list, verifying it by community and then run another script that will send same amount to those addresses.

I would say @killsig would be the person to do this but I haven't seen him around here much. The block explorer is great and I'm sure he has way more knowledge on this topic than I have.

If he doesn't show up in the next week or 2, I will do it.

Me too. Making wallets forward compatible is easy, but... one would need to make script that will snapshot balance of all addresses and than send it to same addresses on upgraded wallet.

this is formula for reward

so if you have 100 one day old coins and interest is 10%...

if you have 7 days old coins...


if you have 365 days old coins


So...you kinda get less than advertised? But it's your fault, because you are not staking often enough. This is actually purpose of capping max age. To ensure that people stake often.

I like the "migrate to NeoScrypt/POS coin" idea right now.

Just make sure that all wallets are forward compatible. Every wallet that someone has today should still work in 5 years and have their coins in it without them doing anything.

You really have to be long-term holder to get the stake. That's probably good. How I understand it, this feature (45 day min-age) is in Hempcoin just for this reason. To give some reward to long term holders.

Capping max age is good think. Coins that are 100% POS usually have 7 days or 14 days cap. But for hybrid coin, current 90 days cap is good.

I'll explain to you why is it taking so long:
As you probably now, we are currently using new Novacoin as base. For some reason (probably something wrong with StakeModifier calculation), POS doesn't work. I noticed, that (now dead) coin URODARK also uses latest Novacoin and their POS is working. So I thought I'll implement their fix. However, I discovered that their fix is very insecure (basically just disabling StakeModifier), so I don't want to go that way.

I'll ask Novacoin devs if they could help and if not, I think we have 3 possibilities:

- migrate to NeoScrypt/POS coin = this wouldn't make ASIC owners happy (but I don't know how many of those are in Hempcoin community)
- go 100% POS = theoretically good, but 100% POS coins don't seem to be very successful
- swich to multi-algo = both ASIC and GPU owners could mine. No POS, depends on your POV if it's big disadvantage or not.

Yes, this is true. I personally wouldn't go for 100% POS. If think combination of POS and POW is best.

not sure what mini-forks you are referring too, but if it's the ones caused when a large wallet opens up after being offline for a long period of time, I believe there is a simple fix for it.

This scenario causes the large wallet to stake tonnes (sometimes hundreds upon hundreds) of blocks in a row at a much quicker rate when opened.  This causes a huge slow down on block creation once the large wallet has finished staking as the diff was increased vastly due to massive amount of network weight it added.  This scenario can be avoided by putting a cap on the maximum weight (max age?) that the coins can accumulated, thus limiting the change in network weight when a large bag holder opens there wallet.  I think in a scenario like this also opens the door for someone much smarter than myself to exploit the coin.  We obviously do not want this to happen.

I know Lemons is very well aware of all exploits and will not allow Hempcoin to be susceptible to any known flaws, rest assured.

I am dwelling beyond my understanding of the blockchain (so please tell me I am wrong if warranted), if the max coin age is capped it should not be capped too much so that actual interest earned is less than advertised/intended.  I know another coin that has a very low max coin age, but it seems to be lowering the interest earned since it is just about impossible for all my coin chunks to stake before hitting the max age.  It looks like once the coins hit the max age, they are no longer earning interest.

This brings up a question that has been on my mind, is it possible to limit the weight accumulated by a chunk of coins, but not limit the amount of interest they earn ?

And yet another thing on my mind; is a 45 day maturing period a good thing for Hempcoin ?  I understand the novelty behind choosing this period, but is it actually helpful for the coin ?

------------------------------

On another note, I can imagine some of you are getting frustrated as you are anxiously awaiting the release of a working POS wallet.

Lemons may not get stuff done as quickly as some would hope for, but I assure you he is working on it and the finished product will work as he intends it too.  He has a real job just like the rest of us and he doesn't get paid for the work he does on Hempcoin, so I am very appreciative for the time he does put towards Hempcoin.

Thank you Lemons ! Don't be shy to ask for help, I am sure we have community members who can do some digging around for you.

I know it has already been said in the forum recently, but just wanted to re-iterate; It is very hard to give a timeline when you are developing code, the simplest problems can take days, or even weeks to figure out.  then you get a lightbulb moment and realize you defined something one line to early or misplaced a semi-colon, or any other of the countless rudimentary typos.  these are what I remember as the most frustrating problems when I was coding back in college.

PS:


:-(  I know the Hempcoin community is better than this.

PPS: one more day to get our volume up on Bittrex..... unless a working POS wallet comes out tonight, we might need that mysterious clever person to fake it once again this time around.  Obviously not ideal, but better than getting de-listed.

The only problem I've seen with 100% PoS coins are mini-forks, although they do correct themselves, but isn't good for merchant adoption for transactions to get reversed if they are on the wrong chain. I'm not sure if this has been fixed or not, I haven't heard anything.

I wrote some transparent coin swap guidelines a few months ago.

https://bitcointalksearch.org/topic/transparent-crypto-coin-swap-guidelines-880220

I believe if they are followed that any sort of switch is possible.



I don't really any ideas on what the best way to go is.

POS seems good. POW reward is dropping so it doesn't seem that bad. 50% POS blocks and 50% POW seems fair.

Maybe do two block halvings so that POW mining can happen over a longer period of time like 10 years. Then do 50% POS blocks so that even if someone tries to 51% attack the weak POW it has no effect as half the blocks are being POS created.



I'm fine with any idea. I just want POS fixed by like April 20th.

I wouldn't mind a POS switch. Has there been any security issues with POS on other coins yet? I would also be into a POS block % increase. Something like 75% blocks are POS with 25% POW. POW doesn't seem to be bringing any benefit to the coin right now other than keeping the price cheap for more people to join early.


P.S. After a POS switch, It would be possible to bring POW back if there was ever a need for it.

Forgot I had this bookmarked when btctalk went down the other day. Neat info about pot and hemp, saw it on twitter somewhere.

http://www.livescience.com/48246-odd-facts-marijuana.html

We could always ask ghostlander who is the developer of neoscrypt to switch us to a orbitcoin clone
It would get us of scrypt and back into POS in no time
Ghostlander took Orbitcoin as a testcase for a scrypt pow/pos to neoscrypt pos/pow,
More info in this thread :
https://bitcointalksearch.org/topic/ann-orbitcoin-v1600-neoscrypt-green-stake-4-years-old-586674
block hashing is BLAKE2s
PoW hashing is NeoScrypt
PoS hashing is SHA-256d


POS is way better for the enviroment than POW, you should use that electricity to actually grow plants instead of mining with an energy wasting algorithm