Topic: [ANN][YAC] YACoin ongoing development - page 58. (Read 380128 times)

If everything went EXACTLY how you ASSUME, you would have to agree that this scenario would occur if you CAP POW REWARD TO 25...
The price would go up 4-FOLD! 0.000004 to 0.000016 BTC!!! Marketcap from $60k to $240k!! YAC would be #67 in the rankings as of now. But now YAC will have the same problem as before because if you freaking listened, you would see we would understand it would need the SAME amount of buying pressure (in BTC) as before and the same people who are mining and dumping will continue to be mining and dumping. Understand?

100% inflation rate? What are you talking about? Multiple people have tried to explain this basic concept to you, and you obviously don't understand. The amount of YAC is what 27 million? So you are saying that in one year, there will be 54 million YAC? And then in another year there will be 108 million YAC? The supply is going to double every year? That is what 100% inflation means. Can you understand what 50% inflation means? What exactly do you want? Make block reward 0 and the inflation rate could be 5% (it won't though as we know 6.4 million YAC are not being staked at all).

You don't even have YAC in your signature line. You want YAC to be briefly pumped, so you can dump at a slightly higher price? I actually hope that is your motivation as opposed to plain stupidity.

My argument in the last post is to show support evidence for technical conclusion. If you don't agree with it, maybe you can explain why I have to check UltraCoin while no one here could tell me why 100% inflation, with a 200% maximum, is nonsense for a cryptoCURRENCY?


Did you actually think when you read the above? What gives people reason to keep inject fund into YAC at a healthy rate? Because they know their fund will be diluted at a highly unhealthy rate of 50% a year?


I am not done. Not until the community put on Yacoin.net a banner saying "This is a highly inflatory cryptocurrency in the next 30 years. And we like it." Why worrying something potentially harmful when current stake holders are being solidly harmed (and any suture stake holders in the next few decades)?

You are right that now is a good time to end this insanity, to reduce maximum inflation rate, for example to 50% pa by capping the block reward to 25.

Here is a great explanation:


Please tell me you are done now. It would potentially be harmful to even SUGGEST completely changing generation rates/inflation at this point. YAC is small enough right now it probably doesn't matter--thankfully, I guess?

You need to stop with this nonsense. I noticed that the amount of YAC being sold for a time was equal to the amount that one big miner was obtaining per day. Bad right? You want to change how much he could obtain, yea? It will reduce selling pressure and YAC will HAVE to go up, right? WRONG. Go check out UltraCoin. The CURRENT price may support your argument, but.not.future.prices. Alas, I don't think you will EVER understand even if 10 coins try that kind of manipulation and FAIL. If you have a lot of money on the sidelines waiting to invest in YAC, you should just wait until it is at 10 satoshis to buy TONS since you have predicted that. In fact, you can put the buy order now. If you aren't able or willing to pour money into YAC, it seems kind of silly to give much credence to your suggestion right? I mean you want buy pressure too--one would assume.

You do make one point. The difficulty attack is worrisome, but of course, if YAC was very popular and many more people mined it, the difficulty wouldn't be so much of an issue. I'm not extremely familiar with the Kimoto Gravity Well, but if that fixes the difficulty problem, I vote it is worth looking into.

Those miners with big guns have left. For those who don't realize, the network is experiencing a difficulty shock. As reported by coinmine.pl the network is finding a block every 2.7minutes instead of 1min. Only 44 miners are left on coinmine.pl. It will take more than 800 blocks before the difficulty is adjusted again, from 0.0067 to aboutt 0.0025. Right now it is not very profitable to mine, not only becuase higher diff means lower per bolck reward, but also there are less blocks to pay miners. This will encourage more miners to leave, which would cause even lower network hash rage,  pushing the diff adjust time farther away to the future... this is bad. What could be worse is when the diff does decrease eventually, if the big time miners jump back and mine the hell out, finding a block every few seconds, and pushing the target diff through the roof. Then after a day all the easy blocks are mined, the network is adjusted to the high diff, the big miners leave, everyone else is facing a even worse long wait. The cycle goes on, worse and worse.

Maybe it is too early to call for  a long term cure such as the Kimoto Gravity Well. Let's see if the big time miners return when the diff goes down.

Incidentally only 30k YACs are mined everyday now, down from 100k/day when diff hovered around 0.004 a while back. I notice that YAC price has stablized in the period. There was even some increase in the last few days. This agrees with my conclusion that less new coin mined per day will mean less selling pressure, which in turn suggests that most YACs goes to mine-and-sell miners that don't have a long term interest in YAC.

How are YACoin and XSI affiliated?  Or are you just promoting the giveaway on a common store?

Since YAC and XSI have an afilliation, I thought I would post here that 2000 xsi are being awarded in a giveaway at bitcoinmegamart.com
Deadline for entry is in 5 or so hours so go enter to win. All entries will receive consolation gifts

Wow thanks Beave! Your gift feels very generous now that difficulty is over 500!

I was thinking of making a graphical chart for my explorer. My top 1000 chart stays up
to the minute with new blocks (http://explore.grokonet.com/?top1000=1), and it even handles
a deep block chain reorganize instantly. I was thinking it it might be cool to make an up to
the minute graphical chart. What kind of chart should I make? Keep in mind I don't have trade
or price data. I just have the block chain and address balances.  Any suggestions?

Thanks as well Beave!

Thanks Beave162

Ron

Thanks Joe - I've been looking forward to this update to have the opportunity to finally mint some of my micro transactions!

Edit:  About 16 hours into minting with 0.4.4 and I've went form 3227 transactions in my wallet down to 1687 from the new 'merge' POS minting.  Its working great!

Edit:  At about 32 hours of minting and down to 733 transaction!  A 77% reduction! 

I created an active bounty list on YACointalk forum and added Beave's give-a-way.  I invite anyone to feel free to add/update the list. https://forum.yacoin.org/index.php?topic=692.0

For possible future wallet development - I'd like to throw the following on the table for consideration.  Some of the new POS 'only' (Reddcoin, Blackcoin, etc.) have this nifty arrow in the bottom of the QT wallet.  When the user hovers their mouse over it, it indicated there 'weight' and an estimation of how long it will take to mint.



Under the console they also have 'stakeweight' and 'netstakeweight' which is also interesting information.  I'm not sure how difficult it would be to 'import' these features, or if anyone else would find them useful, but I thought I would pass them along.  

Great news! Thanks a lot, Joe. I'm updating my wallet now. Sent you a tip for the amazing update (txid 5ec330bb774477ce641979455b81272aabdb6edbcf8909ec362d11c5ede63158)

Thanks you Groko, too! (txid 56af5a86657badb4730707dd0d51b17b2990a5c132aa8951da7551c080576cf7)
Thank you, oldccoder! (txid 8c8273ab2fe43712053c8f815bcb94e5544ed401228c81867cb1313a514f267c)

People can buy things with YAC--convert to BTC. Thanks to bitcoinmegamart for the promotion. Hopefully, more people will mine YAC , convert electricity to YAC and get discounts on buying items by doing so. I disagree on bribing (for lack of a better term) sites at this point because the resources could be put to better use elsewhere. I'll say it didn't seem to help UltraCoin at all. I'll save you my thoughts and theories as to what has the most influence on the price. But hey, that's the beauty of decentralized free market--individuals making their own decisions based on their own self-interest.

In the spirit of this discussion, I'm increasing the GIVE-A-WAY promo to 2000 YACoin per person and extended the deadline to 30 September. Please take my YAC!

https://forum.yacoin.org/index.php?topic=672.0

I agree with roller in that we need to start buying things with Yac, instead of just mining/hoarding. I've put a link up on the website for bitcoinmegamart and also sent out a tweet.

In other news, Yacoin 0.4.4 has been officially released and can be downloaded from yacoin.org or github.
This release includes many updates by old c coder and the stake enhancements mentioned on the previous few pages by grokouser.

From here, we need to start thinking about what to do for 0.4.5!  There are many interesting suggestions that have been made and it's time now to look into the pros and cons of some of them and decide what, if anything, to implement.

Perhaps that came across more hostile toward CoinPayments than intended. I love the concept of that site and what they have done. I said they probably would have added YAC back if I made the argument. I can't really blame them except they didn't set the rules on getting delisted ahead of time.

The good thing about paying in YAC is a perception of acceptance. With that said, I think getting on CoinPayments really wouldn't help the price--although it wouldn't hurt. Considering the marketcap and how dependent it is on bitcoin, I don't see why paying through the Cryptsy option or converting to bitcoin to pay is not just as good. It is just a question of what is cheaper in terms of fees. Because a vote costs bitcoin now, I definitely think that bitcoin is better spent elsewhere in support of YAC at this point.

Well, I have to chime in here as a merchant that made a special exception for YAC on my bitcoinmegamart.com . Don't you be throwing stones at CoinPayments.net, it was the YAC community that did not participate by supporting the merchants who provide a vehicle in which your coin can actually become a spendable currency. Is that not the point of cybercurrency? 99% percent of people in these forums are only out to do one thing, Pump and Dump. I didn't bribe YAC or ask YAC for one coin, I set up a special payment method Just for YAC. I posted announcements at the YAC forum and here to let members know that they have a spendable coin on something besides YAC promotional novelties. One would think that at least one YACr would have come by a dropped 5-10$ on something. Not one.   Don't blame your communities apathy on folks trying to do good things for the cybercurrency community as a whole.

That was great until those miners just jumped off. I think that would be called a difficulty attack? It's important that anyone interested in the future YAC contributes to the hashrate!

I also urge people NOT to vote for YAC on CoinPayments. Why? YAC was already on CoinPayments, but it was removed because no one paid in YAC for months. I'm sure I could have convinced them to add it back, but I really don't think it would have done much good. It is frustrating to watch the multitude of exchanges now take the bribe-bitcoin and deslist a coin, stop adding coins, shutdown completely. I just think that bribe-money is much better spent simply buying YACoin on Cryptsy or contributing to the bounties.

Yeah, I noticed the difficultly jumped form 203 to 505 in about 48 hours.  Looks like someone wants some YACs while there easy to mine!

Two huge miners on coinmine.pl are really taking over, they just dwarf everyone to oblivion...

Thanks Roller24: I will test out your store soon. Just need to get some more YAC

I will either buy more soon or load up my wallet

Greetings to the YAC community.
Bitcoinmegamart.com is now accepting payment for products in YAC
30,000 items and more being added each day. Will keep adding until 75000 items are reached.
Near wholesale prices on computer parts, pads, phones, smartwatches, drones, security systems , tattoo needles, You name it, the megamart will have it or get it for you.

Here's how to pay with YAC
You must have a Cryptsy account.  If you don't have one get one HERE
Find the item you want to purchase and place your order using the Cryptsy option.
Follow the instructions carefully. It's quite simple.
If YAC can make it onto Coinpayments.net, then it will be even simpler. So go vote YAC in!!