Topic: Bitmark - page 67. (Read 622213 times)

What are the very next steps here?

Maybe Leathan's new bot is an evil twin and has sabotaged Klaranet.

hi folks

am having an issue connecting klaranet to slack, and im not sure why

rest assured all marks are safe, I took this chance to do a quick audit

all balances add up to 26.418 BTM ( about $1 worth ) ... is nice to see so little could power a small community

I've sent the full amount to the foundation in the event that I dont manage to get the adapter working again quickly ( txid: Transaction ID: 1a6e7bf795f9f9190eefd17f5518a1b1538b6cf557d2fad0a7d25c864eb2924e-000 )

ill investigate further when I get some time, irc should be working again tho

Your coins were likely confirmed through the last mined block.   

Thanks for your support nonetheless

EDIT: YAYYYY. I don't know what changed but my coins showed up on the exchange and confirmed just a couple minutes ago, what ever you did THANK YOU - THANK YOU.

Which milestones have been completed?

https://bitmark.aha.io/published/4457ddb73f8f65e4b34ace9b319a4942?page=2

Which others have been started, where is the evidence?

I cant find the code:

http://vps.bitmark.co/git

Thanks for the update.  Have not seen markp more than once this month, and that was to say he's trying to source  more funding, that the project had 'gone low' and that code was coming in the next week. 

I also got an email from a major site (crowdbucks) two days ago cc'ing mark and asking if they can start implementing marking.   They have been waiting since September, on the message


But there's no reply I have seen, and dont know what to say.

I'd love this project to be successful and support it, but convince us that the project is active and that the donations have not run out and work stopped ... lots of us want to believe this project is a going concern.  Help us understand.

Status Update:  Aha! is back up and running - Thanks to everyone who helped me cover cost for this month
Roadmap is back up. However, the timeline does not fully reflect our current strategic outlook. Some tasks or milestones may need to be updated, some have been completed and some are still pending.

https://bitmark.aha.io/published/4457ddb73f8f65e4b34ace9b319a4942?page=1

That's correct, 720 confirmations is how Bitmark is configured. And in a situation like this where the difficulty is stuck too high it takes a very long time for those BTM to mature. We're working on fixing the network issue though one way or the other, so hopefully your BTM will mature in the near future.

As stated in an earlier post, I've been waiting over 2 months now for just over 2 BTM to be confirmed on Hash-to-coins pool, What is the normal confirmation requirements for BTM? Reason I ask is I was just looking at my transactions logs on the site, and noticed that the confirmations requirements on BTM are set to 720 confirmations :O??? That is extremely high confirmations, Oldest block mined and waiting was on 11/08/14, it's only at 596 or 720 confirmations, most resent/last block mined was on 11/23/14 is only at 277 of 720 confirmations.
Thanks....

@johndec2 - lol, cpu miner -> well, my work pc is on 24/7 so it might as well be pointed at BTM as anything... Oh, and a 5 chip Gridseed which I said back in the day would stay pointed at BTM - again, it's under my desk with no power costs, so... every little helps as someone once said relieving themselves in the ocean!

I was right there with you on xhash until last week - my main rigs are off completely now as I can no longer justify the power costs and truly do not have the time to be pi55ing about changing coins/pools all the time like a year ago... even nicehash et al return a loss.

I don't know where the BTM algo will go - I do know that there are those experimenting with it as Este rightly says. There are many factors that underpin the life & death of a cryptocurrency - let's see where this all goes - I am still supportive of the ideals and principles of Bitmark...

'zmark' isn't a new algo but just the name that they chose for their pfennig fork. I think right now they are testing DGW on it, no major modifications yet as far as I know. But the plan is to try to come up with an algo that is able to reduce supply as well. Vertcoin recently annouced that they've mannaged to develop such an algo, but as far as I know it's not released yet. So maybe we'll be able to try testing that one out on the zmark testchain at some point soon.

Here's some recent chat from #pfennig on slack. Anyone who wants an invite feel free to PM me.

00:39] markpfennig: Is there a summary of any alernative algo's discussed or found or implemented which control the supply whilst varying diff?

[00:43] amarha: i don't think they're at that point yet

[00:43] amarha: although i could be wrong

[01:37] dbkeys: Basically, KGW was the first one, but it has a time warp exploit. Someone with more than 50% of the hashing power can play games with time and give themselves lots of easy blocks.

[01:38] dbkeys: I was strongly advised by "The Altcoin Guy" to use Dark Gravity Wave, as it is simpler and has proven more resistant to attack.

[01:38] dbkeys: DigiShield, used in a number of coins (originally DigiByte I believe) and notably DOGE, has also been advocated. I know little about how it works.

[01:39] dbkeys: Leathans and I own idea is that we have to first understand what these algorithms are doing before we choose one, or adopt aspects of it into our own.

[01:40] dbkeys: Basically, we have a situation where the difficulty easily adjusts upward but once hash power leaves the network, is very slow (in real time terms) to come back to a reasonable value.

[01:41] leathan: amarha: correct we sorta skipped over that for some reason when we get a better udnerstanding of them i doubt we will go with any existing one like dbkeys said (or if we do it will be most likly a modified version)

[01:42] dbkeys: I'm inclined to think about how the honest peers in the network can keep closer track of real time, by requiring some type of time-consensus that guarantees a minimum block production rate. Emdje has pointed out that the probability that more than a 4 or 5 two-minutes intervals going by without the production of a block quickly goes down down as being attributable to a Poission random process and rapidly, with great certainty, becomes indicative of reduced network hash power.

[01:43] dbkeys: Clearly, after more than some threshold number of block-less time intervals (perhaps as low as 4 or 5, ie, (8 or 10 minutes in BTM block-time) the difficulty should begin to be ratcheted down.

[01:46] dbkeys: An analysis of peaks and valleys of hashrate looking back several week (perhaps even to the beginning of the coin's history) and an analysis of the average hourly coin emission rate could be used by an algorithm to not only set  a reasonable difficulty factor, but also a block-reward that does not create more coins than hashrate, as a measure of demand, would seem to warrant.

[01:47] leathan: We should talk to that math chairman guy dbkeys :S (edited)

[01:49] dbkeys: I also like the notion that if the hash rate goes down significantly from recent historical peaks, not only should the difficulty go down somewhat, and the block reward reduced, but (within a certain limit) the block-time-interval target itself could be made longer than the nominal 2 minutes, to allow for the fact that there is reduced demand for the coin, _AND_ still provide a meaningful amount of proof-of-work by the remaining honest hash power.

[01:50] dbkeys: This would be an "elastic time-interval-target" that could range from the nominal 2 minutes betweeen blocks (when hashrate is at a peak) to perhaps ranging as hig as10x longer or 100x loner ( 20 minutes  to 3.33 hours) This would still be preferable than 1 block per day (maybe)

[01:51] emdje: When the difficulty based upon current blocktime is not decreased to fast you already have slower blocks

[01:51] dbkeys: Yeah, @leathan , been trying to get a hold of that guy !

[01:51] emdje: thus accounting for decreased demand

[01:51] dbkeys: that is true

[01:51] leathan: thats what i meant by "double" elastic on the forum by the way. dynamic block time // reward

[01:52] leathan: witha clear target like dbkeys said on 2mins

[01:52] dbkeys: the thing is that if a KGW/ DGW algo mereley adjust the diff down, then very little (relatively speaking) hashpower is securing the transactions.

[01:53] dbkeys: it should indeed gradually adjust the diff down, but perhaps not so low that block production reaches the fastest nominal 2 min time interval between blocks

[01:53] dbkeys: maybe a 10x slowdown to 20 minutes block interval time is acceptable to all when hashpower is in a valley

[02:00] dbkeys: thus at least, the reduced hashpower has to work 10x more to produce a block ... but still 20 minutes is ok to wait, when we have been waiting 24 hours in some occasions ..... :O

[02:04] dbkeys: in other words, when network hashpower is low, the block interval time should be higher in order to require that some _minimum_ amount of hash energy be securing every transaction block

[02:56] emdje: What if you would take the ratio between 'normal' blocktime and current blocktime; at this moment that ratio is 2/367.876=.005436558, and thansform that using (Ratio-1)^3. (edited)

[02:58] emdje: When the hashrate goes down fast the ratio becomes negative (approching 0), when up is goes up increasingly fast

[03:02] emdje: transformation of our current ratio is -.9838. Where one could decide to intermittently multiply the difficulty by (4 + -.9838)/4=.754

[03:02] emdje: meaning a reduction to 1472.9

[03:06] emdje: The subsequent ratio, when hashrate stays the same, is .00721

[03:12] emdje: hmm I see that hashrate is adjusted to fast on the low side

[03:23] emdje: (Ratio-1)^x      Inceasing x means that the extremes are adjusted more

[03:24] emdje: Don't know if it is useful, but this is what I just cooked up using excel :stuck_out_tongue:

My apologies, I missed that.

Can you briefly explain what the 'zmark' algo is? Is this the same difficulty algo that has been discussed for some time which aims to change difficulty based on demand? What is the ETA on this new algo, days, weeks, months?

Thanks

Not sure where you see a stubborn refusal to fix the difficulty problem when I just mentioned more than once recently in this thread that we have three people working on the 'zmark' chain testing algorithms.

Demand would have to sky rocket for mining BTM to all of a sudden become profitable again - I don't see it happening.

Point is without miners there will be no demand for this coin as no one can move it anywhere. I moved some to Bittrex the other day and it took days. That is not really acceptable.

See the circle of doom here?

Not profitable for miners -> No one mining -> No demand -> not profitable for miners etc etc.

Honestly, this stubborn refusal to fix the difficulty problem is vexing. How many people need to keep saying the same thing before someone listens?

I'm quite confident in Poloniex personally.

this explain a lot.
never leave coin
in your wallet
just hoping that the market exchange
don't die

Well I finally (virtually) soloed that block.  Let me know when/if you stop killing a perfectly good coin and I might come back.  In the meantime, all those PM'ing me about selling my stash, I doubt you would pay my price, so leave me alone. I think the last few posts have illustrated the disconnection of the devs from the real world.  Cya 

I have to agree with the first guys statement. I stopped mining because of the confirmation time. I've been waiting over 3 months for just over 2 BTM to get confirmed on a pool. I "made a mistake" earlier and bought quite a few on one exchange because the price was low and send to another where I could have made a 0.00004 profit, well, I've been waiting over 3 hours for the coins to show up in my deposit. Blockchain still showing unconfirmed. My would have been profit has now dropped that I may have to take a loss, this, my friend, is not acceptable in the mining world. The coin will die out if something is not done to fix the issue, other coins have had this problem and the dev's have fixed with a fork or other means and most of those are still being mined today, I've seen other that just faded away and died. If you want this coin to become what you say, then you will need to do something to fix the issues before the miners totally give up on it.

Speaking for myself, and maybe most other miners. I mine coins that I feel comfortable with and that turn a profit. As the other user stated, we miners also have to cover our expenses to mine (electricity/equipment), which, at present, this coin is causing loss for all who are mining it, including yours truly. If the issues are fixed, then I'll point all my miners at the pool, but until then, I need to mine coins that are profit and move a lot faster as far as transactions and confirmations are concerned.

Sorry to hear that the high difficulty has given you a bad experience so far. We definitely don't intend for marking to be a niche market thing though.

Miners will mine whatever is profitable for them to mine, so if we can create demand for BTM then the mining will follow.

Hey I thought this coin was a good  idea along time ago when there was some hash making it go but I stopped a month or 2 ago as why bother when im burning my money (electricity)and still have 20 BTM pending for god knows how long I mean there really isn't a point to this when miners are the backbone of a block chain ..I understand high difficulty but its plain just to high and this is going to die as ive held what I do have and watched it go from 250k sat to 30k and that doesn't fly well cuz its not like this will replace BTC ..this is just looking to find a niche market and turning your miners away will kill it end of story there isn't an argument to be had on it and to do so is just stupid after all the work and wasted electricity...my god man wake up and get the diff within reason that will at least grow and draw some attention to it...or watch it fade cuz as tipping and everything else takes steps forward this is fading and support is fading ...anyways let me know next year when I can get my last few coins out and I hope there still worth half a sat ...