Topic: [POR]⚡ELECTRONEUM⚡Official Moderated Thread - page 112. (Read 240346 times)

Nicely constructed post, but I'd like to answer only the quoted part.
I'm sure you know it but maybe you forget it... if the price falls then some miners will ofcourse leave because they don't find this coin "profitable" to mine, okay. But after they leave there will be more coins for those who stay, so their "profitability" will stay about the same but at the same time they'll get paid in more ETNs. So the holders will be more profitable if the miners amount is reduced.

If someone is pro pure decentralization only CPU mining makes sense, 1 PC = 1 Miner, nothing else. As soon as you have the possibility to hord whatever mining hardware on the base the more money investement the more hardware, the spirit is gone allready. I can't see a big difference btw. an Asic facility and a gpu facility.

So me personally is not taking this decentralization argument anymore when it's a choice btw. gpu or asic. Everything that is beyond cpu mining has lost it's decentralization argument. Just my 2 cents.

Is anything being written on Discord? Can't access it as I'm at work.
Nothing's been communicated on Twitter either...

This doesn't make sense to me.
the block time is fixed, just learned it, lol. So with a fixed block time the block reward is as well fixed. So each day a fixed amount of ETN goes to miners, no matter if Asic or whatever, right?
So the logical assumption is that no matter who gets them the same amount gets dropped on exchanges anyway.
Actually from my readings and knowledge Asics seem to be use less electricity compared to GPU mining. The coast of an Asic is from my knowledge as well well below of GPU mining rig so
the conclusion that an Asic miner is trying to cover his costs asap doesn't sound valid to me.

This here sounds all about mining profit, seriously. This is not decentralization from my readings here, it's protectionsim of a given group towards another.
All these hypothetical conspiracy theories that are far from being real life cases seem just to serve a given employee group to gain profit, or profit back, or whatever.
That's the impression i have reading through here while waiting for a working wallet.

How the hell it comes nobody asks the big stake holders? I mean there are people holding millions and billions of ETN, i myself hold a large portion of ETN, mostly bigger than 95% of the so
interested community members here. This doesn't look right to me, seriously.

And where is Electroneums garantee that all these gpu's don't switch away if mining is no more that profitable or other coins are way more profitable? I bet the majority will leave the ETN
network in lightspeed forgetting about all his decentralization small talk, lol. What a joke.

I made a mistake coming here into this thread. Sometimes it's better soemone doesn't know some details about a given thing, that's exactly such case.

Good luck, whoever is mining it.

Monero's block 1539501 (after the ASICs were blocked) took 3.50 minutes.
Electroneum's block 307500 is 360 minutes in and still nothing.

I believe it's safe to assume that something has gone wrong. I can understand how the team must be like at the moment, they're probably too busy to update us but I hope they'd send someone to let us know on the status.

im with you in that.

truthfully im not pro GPU or pro asic. Im pro decentralization. Think about the logic. If people will need to buy a special dedicated equipment to mine something then it losses a lot of in total potential miners. Losses decentralization. I like cryptonight based coins because it is one of the most decentralized coin. Mineable by a regular pc and high end pc. Heck i even mine of a phone last yr.

Anyone want to argue that asic does not reduce decentralization can go to any crowd. ask them how many own a phone, a pc, some gpu, and finally ask them if they own an asic miner. I bet my bottom dollars more people will own a phone than a pc, more will own a pc without gpu than one with gpu. and more will own gpu than an asic miner.

but still some people will argue that asic miner does not threat decentralization. all i can say to them is please go back to pre school and learn basic math. maybe you cant add 1+1 yet.

whats the point of the high hash rates if all the coins go into a small amount of asic miners pockets?! whats stopping them from dumping at low prices, if they gained the coins so easily?!
ASIC miners are after profits only to cover their hardware costs asap. This is literally RAPING any coin that ASICS are capable of mining. That is not fair toward GPU miners, and the whole chain is at risk of being duped on.

All people crying about algo change are mainly people that have ASICS now. fuckem.

its been more than 5 hrs since the last block?

any blockchain has a difficulty adjustment. it will always try to run at its supposed average time. When network hashrate goes up difficulty adjusts to make it go back to its block time. when hash rate drops it also does the same. it has a period of adjustment spanning a few blocks to a few hundreds. but no matter the hashrate block time will eventually adjust to the right levels. so bigger faster equipment isnt faster blocks. you just get a bigger piece of the blocks as a miner. but for users they do not feel a thing

Got it, than the reverse assumption. Can it be slower than in case a network drops 100x, 1000x or fictional 10,000 times?

From how i read the statement it seems there is some compatibility problem after the new blockchain does NOT accept any blocks...
I'am not the tech guy when it comes to blockchain, but thats how it sounds to me.

How many hours now left since the fork? No dev or moderator for an update here? Nothing on the home page either. Nothing on the wallet page.
What's going on?

Your original assumption is wrong, hence it is out of your logic. The more hashrate on a network, the more secure the network is. Not faster. Blockchain difficulty is always adjusted so that each block happens in nearly regular intervals. For BTC it is 10 minutes, for LTC it's 2.5 minutes and for ETN it's 2 minutes. The block time interval is fixed. It can't be faster.

If you wish to be able to process more transactions per block, you have to find another way -- e.g. fit more transactions into each block (by increasing block size, removing overhead...). And the ETN team is doing exactly that with this update.

Give the blockchain a chance to adjust. It may take a few hours. After that it will work faster than before the fork.

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What's MPH hoping to achieve that way? Mining on the old chain does not guarantee any valid blocks!? Surely they should either mine on the new chain or stop completely?

miningpoolhub says that hardfork failed:

"Electroneum hardfork seems failed currently. Pool rolled back to previous version as new blockchain doesn't accept new block after 307500 block height."
They switched back to old wallet and chain with ordinary Cryptonight-ASIC algo

As for smooth transition - ETN team should buy large amount of cryptonight-v7 hash on NiceHash or somewhere else to provide smooth transition.
They'll get ETN rewards for it so it won't be too costly for them.

Maybe, no idea. I run my own businesses since ever and one thing i never would do is running my business
as the employee would like to me to run it.
Neither has an employee any risk to take, nor investement, nor does he have the bright picture of my business, what's left for taking personal responsibility!
This said, a business/project should always be run to outperformance the competition and to satisfy the client. Everything else won't work out, easy as that.

Wallet still not working.....

Where is the deal to shutdown a network by Asic miners? It would be like self suicide for them. Sounds a bit too idealistic and hytpotetical to me. I don't have any fear of that when i use my BTC, LTc, DASH, DGB or any other of my currencies that are mined maybe with Asic networks i think.

Just as a side note, since December 2017 i'am trying to buy 2x 1080ti for my PC at home, no chance, everything sold out or total overpriced .... Thx guys, at least i know now where all these cards are, used for decentralization. What a joke. Killswitch by manufacture. Where is the deal a manufactore shutting down his products. It would be illegal by the way as it's not his property anymore and it would ruin his business. Reality total left out it seems. Any measures to prevent aliens to attack Electroneum? (just kidding)

Guys, no offence, as a customer and user of ETN, Trader and Holder of ETN i seriously await a working product for real life usage and not a product for hypotethical nearly impossible possibilities that are a usage problem for me as the customer. And reading some posts while waiting the wallet to functin again, i don't care if the guy with the gpu makes some bucks or the asic guy. All i want is a fast running, fast performing wallet and transactions.

Whatever, every projects it's own vision, but after realizing that this is more an ideologie product i may better overthink if it's not better to investe only in products/projects that focus on real life issues.....

Anyway, totally upset that the wallet doesn't work for hours now!!!

The so called community pushed the team to change the algo

This update was not about decreasing the hashrate of the network, it's about decentrilizing it. That was the goal.
As things were with ASIC miners,
1) Only the few people who would be able to afford their cost would buy them
2) Those ASICs that were not bought could be used by the manufacturer in a huge farm, though there's no way we can know if that happened
3) If the manufacturer of these ASICs decided to put a killswitch inside the miners, they could shutdown the whole network anytime and make theirselves the sole miner.

The aboves are the main reasons people are against ASICs in general though, not just the ETN miners. Sure there are a few positives, as a more "secure" network against 3rd parties, but for me that doesn't offset the risk of providing to someone from the inside (the manufacturer) the keys.

I've got 20 GPUs on ETN now (14 RX 570's and 6 Vega 64's). Come on block 307500, show yourself, you can do it!!