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Topic: [ANN][XMT] Summitcoin - *** ICO COMPLETE*** POW Rewards still available!! - page 7. (Read 12864 times)

legendary
Activity: 2702
Merit: 1030
Yes I am a pirate, 300 years too late!
The last block on the pool is 12273 but a getmininginfo on the wallet shows the block at 12211

I hope we didn't fork it.
member
Activity: 98
Merit: 10
Something seems wrong with the pool!!

Yeah we're seeing all of the blocks orphan. It looks like our DNS seed is acting up, we're beating it up a bit and getting it back in line.
legendary
Activity: 2702
Merit: 1030
Yes I am a pirate, 300 years too late!
Something seems wrong with the pool!!
member
Activity: 98
Merit: 10
The update has been committed. OS releases are being built now.

POW HAS BEEN ENABLED AND BLOCK REWARDS ARE WORKING.

THIS IS A REQUIRED UPDATE.

pool.summitco.in is updated and ready for hash. The pool operators have been notified.

I will be updating the OP with the new builds. And the

What we need everybody to do:

1. Update to the new source asap, that’ll allow mining to go on, but the old wallets will still work

2. On Friday, we’ll push an update that will cause old wallets to stop connecting

Friday’s update is mandatory only for those who haven’t updated to this one.
member
Activity: 98
Merit: 10
News???

Looks like we're going to make it. We're pulling and committing changes right now. Doing a quick test and then we'll release. This will be a required/mandatory/immediate update. I've notified the pool ops that we're getting close. And will send them the final word so they can update as soon as possible. The official pool at pool.summitco.in will be ready to go as well. Thanks again everybody. I'll have the final word here shortly.
member
Activity: 98
Merit: 10
Another update. We're running into some more issues. We're going to have to fish or cut bait very shortly. Sorry guys. We're still working on it.
member
Activity: 98
Merit: 10
Good morning all. The dev team sent me an update. They're finishing up the code right now. We should have another update or a release very shortly.


 Hello

   Just checking on how the update or the release is coming ...

kprell40


Everyone can reach the summit  Smiley

Sorry everybody. We had a bit of a rough one today, we're still getting it finished. One of the devs had a bit of an emergency. Burning the midnight oil tonight.
hero member
Activity: 546
Merit: 500
Good morning all. The dev team sent me an update. They're finishing up the code right now. We should have another update or a release very shortly.


 Hello

   Just checking on how the update or the release is coming ...

kprell40


Everyone can reach the summit  Smiley
member
Activity: 98
Merit: 10
Good morning all. The dev team sent me an update. They're finishing up the code right now. We should have another update or a release very shortly.
hero member
Activity: 546
Merit: 500
We've heard from Yobit, the ICO will continue.

We'll get an updated wallet out either late tonight or early tomorrow (Eastern time). The fork will be scheduled for Wednesday afternoon (Eastern time).
We'll contact the pool operators directly as soon as we have updated source for them.

It looks like we just flat out messed up the block reward schedule in the code. Our apologies go out to the entire community. This was our responsibility to do correctly and we dropped the ball. We're working hard to get this fixed and make it right.

 Thank you for the update and looking forward for it Smiley

kprell40
member
Activity: 98
Merit: 10
We've heard from Yobit, the ICO will continue.

We'll get an updated wallet out either late tonight or early tomorrow (Eastern time). The fork will be scheduled for Wednesday afternoon (Eastern time).
We'll contact the pool operators directly as soon as we have updated source for them.

It looks like we just flat out messed up the block reward schedule in the code. Our apologies go out to the entire community. This was our responsibility to do correctly and we dropped the ball. We're working hard to get this fixed and make it right.
legendary
Activity: 2688
Merit: 1240
We are currently doing some internal testing and getting ready to start compiling builds.

We're going to issue a *MANDATORY* wallet update to re-enable PoW *prior* to the post-ico mining period. The mining and stake rewards are the same during the ICO week (1 XMT) so nobody should miss out once the block rewards kick up.

Please let us know if you have any questions.

any ETA for the fix ?
legendary
Activity: 1050
Merit: 1000
any response from yobit?

is the ico still going on or cancelled?
member
Activity: 98
Merit: 10
We are currently doing some internal testing and getting ready to start compiling builds.

We're going to issue a *MANDATORY* wallet update to re-enable PoW *prior* to the post-ico mining period. The mining and stake rewards are the same during the ICO week (1 XMT) so nobody should miss out once the block rewards kick up.

Please let us know if you have any questions.
member
Activity: 98
Merit: 10
Since it looks like the coin function is broken (POW should be running), I think YoBit should cancel the ICO and refund all funds to buyers.

Hi there. Sorry for the delay in communications on this. We're trying to sort the code out and see what happened and where. We'll have an update shortly on how we're going to correct this. I am in the process of reaching out to Yobit to try and sort this out. We will either hard fork and get the PoW re-enabled, or cancel the ICO and refund everybody.

Updates will be coming. Thank you for your patience.
legendary
Activity: 2702
Merit: 1030
Yes I am a pirate, 300 years too late!
Since it looks like the coin function is broken (POW should be running), I think YoBit should cancel the ICO and refund all funds to buyers.
full member
Activity: 135
Merit: 100
full member
Activity: 140
Merit: 100
How can POW be over?  In the OP is states

Total Coin Supply: 70,000,000 XMT
Premine: (ICO*) - Block 1: 55,000,000 XMT
Week 1: (ICO Period) - Block 2-11,000: 1 XMT/block - (10999 XMT)
Month 1: Block 11,001 - Block 54200: 115 XMT/block - (4,967,885 XMT)
Year 1: Block 54201 - Block 579801: 9.5 XMT/block - (4,993,200 XMT)
Year 2-5: Block 579801 - End of Life: 2 XMT/block - (4,000,000 XMT)


Should POW go for 5 years?

Should POW go for 5 years??

That is what the OP said.  So I'm confused.  Some time last night they killed POW, so I wasted hours of hash time.

 I think but not sure it is a software glich or a setting issue in the chainparams.cpp
 File.
 
  https://github.com/summitcoin/summitcoin/blob/master/src/chainparams.cpp#L107


  base58Prefixes[PUBKEY_ADDRESS] = list_of(63);
        base58Prefixes[SCRIPT_ADDRESS] = list_of(125);
        base58Prefixes[SECRET_KEY] =     list_of(191);
        base58Prefixes[EXT_PUBLIC_KEY] = list_of(0x04)(0x88)(0xB2)(0x1E);
        base58Prefixes[EXT_SECRET_KEY] = list_of(0x04)(0x88)(0xAD)(0xE4);

        convertSeed6(vFixedSeeds, pnSeed6_main, ARRAYLEN(pnSeed6_main));

        nLastPOWBlock = 8000;         <-----------------------
    }

    virtual const CBlock& GenesisBlock() const { return genesis; }
    virtual Network NetworkID() const { return CChainParams::MAIN; }

    virtual const vector& FixedSeeds() const {
        return vFixedSeeds;



 


https://github.com/ctgiant/litedoge---DO-NOT-USE/blob/ec47a47b213df28ff8832241d1e8a9c798cc60a0/src/chainparams.cpp#L95

 nLastPOWBlock = 8000;
    }

    virtual const CBlock& GenesisBlock() const { return genesis; }
    virtual Network NetworkID() const { return CChainParams::MAIN; }

    virtual const vector& FixedSeeds() const {
        return vFixedSeeds;
    }
legendary
Activity: 2702
Merit: 1030
Yes I am a pirate, 300 years too late!
If all the POW completes that is 25% of the total coins.  Way too much, if it gets dumped
full member
Activity: 151
Merit: 100
I think that just bad coding... Premine is way too large if mining end at this point...
yes calculations including unreasonable. premine too big. the price will be falling down? yes

In theory, say only 1BTC of the ICO is met, they will be burning 99BTC of the premine.
"5,000,000 XMT of the premine will go to the development fund as incentive to keep the devs active and engaged, as well as to be used for incentives and marketing"

I think that too mutch. Like 10 times more that rest of coin owners atm.
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