Topic: error - page 119. (Read 360507 times)
wether community comes together and invests into a big big mining farm to be free from free decision miners or you have to fork it.
No miners, no new blocks, no transactions , no trading - coin no longer exists
For me it looks like some investors do not understand how mining, nethashrate, blocktimes and diffi works together
Does any investor care about that BTC also was forked in past. NO - a investor even do not now what it is
DEV, if you do not have access to a big minig farm do that what you have to do - FORK
You really think that this coin can have a Hard Fork without affecting investor confidence? I am open to an explanation. Sincerely, you think everything will be like it never happened? Educate me.No miners, no new blocks, no transactions , no trading - coin no longer exists
For me it looks like some investors do not understand how mining, nethashrate, blocktimes and diffi works together
Does any investor care about that BTC also was forked in past. NO - a investor even do not now what it is
DEV, if you do not have access to a big minig farm do that what you have to do - FORK
I don't understand whats with all the "Inverstors will loose confidence if forked" talk when it seems to make sense to fork it if you understand everything. At first I was against it too, but the more I read and understood about it it makes perfect sense to do it.
From the point of view of the "Investors" there are two main reasons I can think that they invest in it, 1 being the fact that its called Ron Paul Coin and is meant to represent/uphold Ron Paul and will get a lot of media attention and support from Ron Paul Supporters, 2 being that the title on the OP said "Safe from pump and dump". The second one we have clearly seen is not the case, and it actually appears to be more vulnerable to it....So if forking it is only going to make it more safe from pump and dump..and the principles and idea behind the coin remain the same, then investors should feel MORE secure to invest in it! Once it gets put on cryptsy,coinex, vircurex, etc... the problem would only get worse, and forking it then would be worse also. So lets get it done now and have it all sorted out BEFORE a bunch more people get invested into it.
When you download the new wallet, it will grab your wallet.dat and keep the coins you had in your old wallet and allow you to create RPC just like you were. No coins are lost, just a "interruption" of the blockchain.
not to be pedantic, but actually your coins are on the blockchain, like everyone elses.LOL. Yes, you are correct sir
When you download the new wallet, it will grab your wallet.dat and keep the coins you had in your old wallet and allow you to create RPC just like you were. No coins are lost, just a "interruption" of the blockchain.
not to be pedantic, but actually your coins are on the blockchain, like everyone elses.
A hard fork will not erase any coins. The Dev will say "At block _____(future block) the difficulty will change and you will need to update your wallet in order to keep mining on the current blockchain".
So, in order to keep making RPC, you will have to update your wallet to stay on the new blockchain. If you continue to mine on the old wallet, you will not make any coins that you can keep and your wallet will be "out of Sync."
When you download the new wallet, it will grab your wallet.dat and keep the coins you had in your old wallet and allow you to create RPC just like you were. No coins are lost, just a "interruption" of the blockchain.
So, in order to keep making RPC, you will have to update your wallet to stay on the new blockchain. If you continue to mine on the old wallet, you will not make any coins that you can keep and your wallet will be "out of Sync."
When you download the new wallet, it will grab your wallet.dat and keep the coins you had in your old wallet and allow you to create RPC just like you were. No coins are lost, just a "interruption" of the blockchain.
Newb question but would a hard fork erase or somehow invalidate already mined coins?
this! ANYONE?
No, all those coins are fine. It's just splitting the blockchain down two different roads (a fork). Anyone who fails to follow the new fork (which will have more than 51%), will mine orphan blocks (or whatever). Two forks, a right one (new) and a wrong one (old). Only the new one mines coins and confirms transactions. All old coins remain safe.
Newb question but would a hard fork erase or somehow invalidate already mined coins?
this! ANYONE?
I'll just mine profitable coins until the difficulty drops.
I'll keep mining RPC so my profitable coins (RPC) stays that way.
nethashrate 360 and dropping...
common guys... mine now...
the retarget diff is already down to 10...
common guys... mine now...
the retarget diff is already down to 10...
Code:
Network Info
Difficulty 80.06031858
Est Next Difficulty 10.14694881 (Change in 126 Blocks)
Est. Avg. Time per Block 15 minutes 46 seconds
Current Block 12114
Ok; cheers for the quick replies guys.
In that case I would expect there to be a fairly large gap in blocks before the fork takes place and announcement after announcement after announcement.
We'd also need pool-operators to be right on the ball too; both with updating their pools and putting an announcement on their dashboard.
If (when) this is going to be done; it needs to be done right!!!
I see who I assume is the pool-operator of rpc.pooljunkie.nl on here every day being active in the forum and discussion; so frankly I know he's on the ball and knows what he's doing; personally I will be sticking to that pool.
@myrinx: can you please confirm you are indeed the pool-operator? if so, man I'm sticking with you!
In that case I would expect there to be a fairly large gap in blocks before the fork takes place and announcement after announcement after announcement.
We'd also need pool-operators to be right on the ball too; both with updating their pools and putting an announcement on their dashboard.
If (when) this is going to be done; it needs to be done right!!!
I see who I assume is the pool-operator of rpc.pooljunkie.nl on here every day being active in the forum and discussion; so frankly I know he's on the ball and knows what he's doing; personally I will be sticking to that pool.
@myrinx: can you please confirm you are indeed the pool-operator? if so, man I'm sticking with you!
A couple of quick questions about the proposed hard-fork; please clarify:
Will this mean that miners / collectors will need to update their ronpaul-qt client?
Will this mean that pools will need to update their pools to the new fork?
If yes: if pools and miners do not update will they be mining false-coins on the wrong fork (i.e. their mining would be pointless)?
yes.Will this mean that miners / collectors will need to update their ronpaul-qt client?
Will this mean that pools will need to update their pools to the new fork?
If yes: if pools and miners do not update will they be mining false-coins on the wrong fork (i.e. their mining would be pointless)?
But still hard forks are not immediate, usually the code includes a block number where the chain will fork to the new algorithm so that both the old and new clients can coexist until that point. This gives enough time for everyone to update and avoids people mining on the old blockchain. I also believe there's some kind of "update alert" feature on the QT wallets that let's you know when there's an unavoidable update on the horizon.
A couple of quick questions about the proposed hard-fork; please clarify:
Will this mean that miners / collectors will need to update their ronpaul-qt client?
Will this mean that pools will need to update their pools to the new fork?
If yes: if pools and miners do not update will they be mining false-coins on the wrong fork (i.e. their mining would be pointless)?
Will this mean that miners / collectors will need to update their ronpaul-qt client?
Will this mean that pools will need to update their pools to the new fork?
If yes: if pools and miners do not update will they be mining false-coins on the wrong fork (i.e. their mining would be pointless)?
Newb question but would a hard fork erase or somehow invalidate already mined coins? If so I would not be in favor to say the least.
Just in general re the fork I have to say it is simple supply demand that if diff is higher coins are harder to come by. Seemingly then value should be higher. The reason doge or coinye are worth hundreds or thousands of times less is because you can mine many more with the same hash.
That being said I totally get that the retarget time should be not so long in adjusting back to some reasonable level. I jumped on this coin right away because I am a Ron Paul supporter but loyalty only goes so far because if mining is not profitable or barely just I probably will end up mining something else.
The problem we have is that the price is no longer high enough at this dif. We can lower the diff but if price drops it still wont help matters.
Just in general re the fork I have to say it is simple supply demand that if diff is higher coins are harder to come by. Seemingly then value should be higher. The reason doge or coinye are worth hundreds or thousands of times less is because you can mine many more with the same hash.
That being said I totally get that the retarget time should be not so long in adjusting back to some reasonable level. I jumped on this coin right away because I am a Ron Paul supporter but loyalty only goes so far because if mining is not profitable or barely just I probably will end up mining something else.
The problem we have is that the price is no longer high enough at this dif. We can lower the diff but if price drops it still wont help matters.
I think it's clear that big diff jumps are a mistake. They put a blockchain in the "target zone" of mine-n-dump more often, and suffer more for it when the mine-n-dump crowd suddenly abandons it. You want an upward difficulty adjustment that's not a lot more than enough to move it out of the "target zone" of being the most profitable coin to mine n dump, and a downward difficulty adjustment that won't rapidly or frequently put it back there.
Honestly, if you want to be less affected by the dumpers, I would advise taking the hard fork option; it's necessary to fix a design mistake that will otherwise cause serious problems forever.
Honestly, if you want to be less affected by the dumpers, I would advise taking the hard fork option; it's necessary to fix a design mistake that will otherwise cause serious problems forever.
Will it really drop that low in difficulty?
Block 11519 was found on January 8, 2014, 23:02:41Block 12074 was found on January 11, 2014, 10:54:12
Block 12104 was found on January 11, 2014, 18:49:58
Last 30 blocks to find took 28546 s instead of 3600 s
Using the same hashrate from those last 30 blocks, we should get the block 12239 in ~130000 s (~1 day and a half)
That will give us a total time for 720 blocks of ~375,000 s, or ~4.3 days in total.
Current diff is ~80, so we should get something like 80/4.3 = ~18.5.
If current hashrate is divided by 2 again during the next 24hours, we could only get the block 12239 in 2.5 days. Diff would then drop to ~14.
Nearly all pools estimate difficulty from the last N blocks average time (N being maybe much < than 720 for RPC), not the real time it took since the last diff retarget. That's why it's pretty much always wrong for coins with big diff jumps.
Network Info
Difficulty 80.06031858
Est Next Difficulty 11.11697774 (Change in 2008 Blocks)
Est. Avg. Time per Block 864.2 seconds
Current Block 12104
uhhhhhh ?
Difficulty 80.06031858
Est Next Difficulty 11.11697774 (Change in 2008 Blocks)
Est. Avg. Time per Block 864.2 seconds
Current Block 12104
uhhhhhh ?
Current Difficulty 80.06031858
Est. Next Difficulty 11.11697774 (Change in 136 Blocks)
http://rpc.pooljunkie.nl/ works fine. These numbers make sence.
roxollo: for a little while when the hashrate will be 5ghs.
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