[BTE] If we are going to make to the next retarget we must be zelots

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: bitcool on April 13, 2013, 06:25:34 PM

Quote from: Anon136 on April 11, 2013, 10:54:24 AM

So then the question is why should you mine at a loss? The answer is that if you are holding bytecoin and we do not make it to the next retarget than your bytecoin will be worthless.

Translation: You've become a hostage of your own coins Wink

haha yea i suppose thats true. Not for long though. hopefully everything will sort its self out with the next retarget.

bitcool

legendary

Activity: 1441

Merit: 1000

Live and enjoy experiments

Quote from: Anon136 on April 11, 2013, 10:54:24 AM

So then the question is why should you mine at a loss? The answer is that if you are holding bytecoin and we do not make it to the next retarget than your bytecoin will be worthless.

Translation: You've become a hostage of your own coins Wink

jubalix

legendary

Activity: 2632

Merit: 1023

Quote from: Anon136 on April 13, 2013, 07:48:58 AM

Quote from: smoothie on April 13, 2013, 12:37:25 AM

Quote from: coretechs on April 11, 2013, 03:09:47 PM

The problem is that anyone with ASICs can point at Bytecoin for a few days and kill the difficulty.

For Bytecoin to succeed, it needs a killer-application that creates incentive for bitcoin miners to mine BTE continually. A proper exchange would be a good start.

I've been trying to think of a way that Bytecoin could be beneficial to Bitcoin. Maybe there's some cool process we can do with transactions across chains. If you think about it, bitcoin miners are stuck with bitcoin. They can't mine altchains that don't use the same algo. If Bytecoin can function in a way where miners see it as a way to protect their hardware investments in ASICs, it could potentially see some widespread adoption.

+1 the noobs here will find out soon enough once someone with enough money and time on their hands wants to have a little fun with BTC miners and holders of this coin.

Good luck to you suckers! Grin

Just put sunny kings PPC re-target mechanism into your BTE code = fixed

+1

you are right about this smoothie. If this coin doesnt become reasonably established than this could definitely happen. Like you said though, he would need to spend quite a bit of his own resources in-order to troll people, he wouldn't gain anything from it. This definitely might happen but its also pretty reasonable to expect that it wont.

If it does than ill have a pretty good idea where we went wrong with bytecoin and we can try again with keeping all of bitcoins properties the same except implementing a new more adaptive difficulty re-targeting algo.

thanks for helping to bring some people back down to earth =)

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: smoothie on April 13, 2013, 12:37:25 AM

Quote from: coretechs on April 11, 2013, 03:09:47 PM

The problem is that anyone with ASICs can point at Bytecoin for a few days and kill the difficulty.

For Bytecoin to succeed, it needs a killer-application that creates incentive for bitcoin miners to mine BTE continually. A proper exchange would be a good start.

I've been trying to think of a way that Bytecoin could be beneficial to Bitcoin. Maybe there's some cool process we can do with transactions across chains. If you think about it, bitcoin miners are stuck with bitcoin. They can't mine altchains that don't use the same algo. If Bytecoin can function in a way where miners see it as a way to protect their hardware investments in ASICs, it could potentially see some widespread adoption.

+1 the noobs here will find out soon enough once someone with enough money and time on their hands wants to have a little fun with BTC miners and holders of this coin.

Good luck to you suckers! Grin

+1

you are right about this smoothie. If this coin doesnt become reasonably established than this could definitely happen. Like you said though, he would need to spend quite a bit of his own resources in-order to troll people, he wouldn't gain anything from it. This definitely might happen but its also pretty reasonable to expect that it wont.

If it does than ill have a pretty good idea where we went wrong with bytecoin and we can try again with keeping all of bitcoins properties the same except implementing a new more adaptive difficulty re-targeting algo.

thanks for helping to bring some people back down to earth =)

Buffer Overflow

legendary

Activity: 1652

Merit: 1016

Got a feeling after the next retarget the super miner solving all the blocks is going to jump ship. Leaving everyone holding the high difficulty baby.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: coretechs on April 11, 2013, 03:09:47 PM

The problem is that anyone with ASICs can point at Bytecoin for a few days and kill the difficulty.

For Bytecoin to succeed, it needs a killer-application that creates incentive for bitcoin miners to mine BTE continually. A proper exchange would be a good start.

I've been trying to think of a way that Bytecoin could be beneficial to Bitcoin. Maybe there's some cool process we can do with transactions across chains. If you think about it, bitcoin miners are stuck with bitcoin. They can't mine altchains that don't use the same algo. If Bytecoin can function in a way where miners see it as a way to protect their hardware investments in ASICs, it could potentially see some widespread adoption.

+1 the noobs here will find out soon enough once someone with enough money and time on their hands wants to have a little fun with BTC miners and holders of this coin.

Good luck to you suckers! Grin

achillez

hero member

Activity: 874

Merit: 1000

why is next diff 65536? should it go down?

xorxor

sr. member

Activity: 476

Merit: 253

why people love this coin so much?

next diff : 65536
even after btc retarget @ 9M, cost of bining 1 BTE would be 0,00721 BTC Shocked

FatMagic

full member

Activity: 224

Merit: 100

Quote from: Anon136 on April 12, 2013, 08:47:56 PM

Quote from: FatMagic on April 12, 2013, 08:04:24 AM

I see the difficulty is projected to go up to 65k? I thought the difficulty was going to adjust down after some blocks got solved (which it seems like it did) -- or did that already happen? Just trying to follow up with whats going on now that some blocks were solved (and hopefully prevented a fork).

retarget is every 2016 blocks. If you see some stats somewhere that say its going to retarget up than those stats are probably just wrong.

Yeah I found it here: http://pool.bytecoin.in/stats_netw.php

Is that stat incorrect?

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: aadje93 on April 12, 2013, 12:15:10 AM

Got 4ghash mining 24/7 @ bytecoin Cool

Mined multiple blocks yesterday right after each other:

14334

and 14333

And earlier that day

14319 and 14320

so i am trying the best i can, last mined block from me is block numer 14344

And still hashing with 4ghash/s

I will continu to support this altcoin as an protest to mtgox and their power over bitcoin. We need bitcoin as an alternative to fiat. Not a conversion of fiat!

Just my .02 BTE Grin

EDIT: seems like 270ghash on the network Shocked

no 51% attack? (bytecoinpool info)

thanks so much! tell me your address and ill send you a donation!

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: FatMagic on April 12, 2013, 08:04:24 AM

I see the difficulty is projected to go up to 65k? I thought the difficulty was going to adjust down after some blocks got solved (which it seems like it did) -- or did that already happen? Just trying to follow up with whats going on now that some blocks were solved (and hopefully prevented a fork).

retarget is every 2016 blocks. If you see some stats somewhere that say its going to retarget up than those stats are probably just wrong.

Ilikeham

full member

Activity: 238

Merit: 100

Quote from: hiddenvalleyranch on April 12, 2013, 12:27:34 AM

Everyone come to http://pool.bytecoin.in/

We are only at 2GH/s right now.

Why would I move back to a pool that has already ripped me off for well over 100 coins?

FatMagic

full member

Activity: 224

Merit: 100

I see the difficulty is projected to go up to 65k? I thought the difficulty was going to adjust down after some blocks got solved (which it seems like it did) -- or did that already happen? Just trying to follow up with whats going on now that some blocks were solved (and hopefully prevented a fork).

jubalix

legendary

Activity: 2632

Merit: 1023

So this is BTE's TRC moment....Anon is right Sunny king has explicity said people should look at his retarget system in relation to how TRC was hurt in this manner.

The TRC dev has done something interesting in response, I am not sure how well it is working

brie

full member

Activity: 154

Merit: 100

Quote from: Anon136 on April 11, 2013, 12:11:58 PM

i cant believe no one responded with "my life for aiur"

Uhn dara ma'nakai.

aadje93

sr. member

Activity: 308

Merit: 250

Quote from: Craftyman on April 12, 2013, 12:23:16 AM

just curious, what is a retarget and how could you not reach a retarget?

Retarget is the difficulty change after mining 2016 blocks. It will target a difficulty that way that the average time of a block generated is ~10mins if i'm right.

When there is some fools with asics pointing 1thash at the network, mining the blocks in no-time the re-target after the 2016blocks will shoot up (like now 16k, while it is supposed to be ~4k when mining with 30ghash)

When they stop after the retarget the difficulty is around 30 times higher then normal. Thay way we can take a year to get a retarget again. So most people will quit mining it then (not me Tongue

)

Right now its at a good difficulty for the 270ghash mining power bytecoin has. (retarget will double the difficulty) but it can be some asic guy or botnet just trying to crush bytecoin. But also can be frustrated bitcoin miners protesting against mtgox.

I quit bitcoin mining because mtgox is just "ruling" bitcoin. People see it as an commodity they can invest and trade in rather then a new currency Sad

.

BYTECOIN WILL RULE THIS WORLD Grin

hiddenvalleyranch

member

Activity: 103

Merit: 10

Everyone come to http://pool.bytecoin.in/

We are only at 2GH/s right now.

Craftyman

member

Activity: 75

Merit: 10

just curious, what is a retarget and how could you not reach a retarget?

aadje93

sr. member

Activity: 308

Merit: 250

Got 4ghash mining 24/7 @ bytecoin Cool

Mined multiple blocks yesterday right after each other:

14334

and 14333

And earlier that day

14319 and 14320

so i am trying the best i can, last mined block from me is block numer 14344

And still hashing with 4ghash/s

I will continu to support this altcoin as an protest to mtgox and their power over bitcoin. We need bitcoin as an alternative to fiat. Not a conversion of fiat!

Just my .02 BTE Grin

EDIT: seems like 270ghash on the network Shocked

no 51% attack? (bytecoinpool info)

Craftyman

member

Activity: 75

Merit: 10

750 Mhash/s pointed at bytcoin.in

Topic: [BTE] If we are going to make to the next retarget we must be zelots (Read 2701 times)