Topic: [POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦ - page 217. (Read 920105 times)

I'm sorry, I thought we were building a coin to use with the marijuana industry.  Something that would be used to facilitate purchases in dispensaries, grow shops, online smoke shops, etc.  I didn't know we were building a coin that was just supposed to be used for mining and trading.  I guess that's where I was confused.

I'm glad we got that straightened out now.

-Fuse

Dude, I'm not even mining the coin. I haven't mined it for quite a long, long time. I have some I've been holding because I believe in it. I've been hoping to see POS systems and more ATMs, and more importantly, merchants! Where are the merchants!

Whether or not it's totally  mined out, does that matter? At some point you'll be mined out entirely anyhow. What keeps it going is usage and the value people place into it. Cryptocurrency always has to be used to be worth anything, otherwise you're burning electricity to see decimal points move around.

I *am* looking long term. The decisions being made here are not good long term decisions. I've examined market price from day one, and the averages just keep slipping down, especially since the near-failed 4/20 day (IMO).

They said merchants were on the ground using it, with more lined up to get started, and that ATMs were popping up. Nope. None of this has occured, and as some other long term potcoin proponents pointed out on some alternate blogs, it appears they're still trying to get this stuff going. Denver, IMO, was a failure, which is one of the reasons there wasn't a lot of positive news from it. We were promised tons of news and great announcements from Denver.

Nothing big like that occured. There's supposedly 1 ATM on the ground, with possibly 1 merchant almost ready to sign a deal for one more system. That's not exactly progress, not like we were promised. This is why faith is being lost. This coin, up until 4/20, remained one of the most stable coins for value on all the markets, even when bitcoin was going down and other coins were dying. The long averages held. Even when multipools nailed us, the value and network held--what other coin can say that?

Now, it's not. Faith is fluttering. It's because the business side isn't coming online like was supposed to have occured. And announcements like this from the team makes things worse.

We all know usage is a must. Nobody is saying its not important.

But coin supply is growing too fast. You and your miners are thinking far too short term. Where are you going to be next year when mining is all but finished because the coin supply is maxed out? Are you going to take a loss on mining for the good of the network? I doubt it. You'll point your miners someplace else.

Stop staring at daily market prices and think about what the coin needs instead. We have to give miners an incentive to mine not just today and tomorrow, but 5, 10 years from now too. Otherwise what are we building here?

The price gets pumped before every halving because traders speculate on the price. And many miners dump their coins when the speculators push it too high. Its natural market progression. It happened with Bitcoin, and it will happen with Litecoin too. The point is, that after the halving you can't just sit idle and expect people to join. The coin needs to grow and you have to give people a reason to grow it.

And, by the way, enjoy the network attack. Seems like you brought it on yourself.

Block halving, are you guys that stupid?

PotCoin, you didn't ask a single damn member in this thread since you first mentioned it when the network was under attack a few weeks ago. You claim you polled the community? Who? Your majority hashrate is sitting silently in this thread. Did you ask us privately? When you mentioned it, several of us immediately responded against that idea.

Everytime a coin halves, there's a pump prior and then a dump, and then your coin turns into a corpse. Find me a coin which hasn't died from halving, out of the tens of them you'll find maybe a couple, which simply died a slow death later (KDC). Several died just last week from halving. KDC died a slow death and it had MORE uses than potcoin, so keep that in the back of your mind.

Anyone wanting block halving fails to understand the problem -- it's NOT volume. The problem is you have no USES for the coin. People are thinking "supply/demand" for the coin price, but that has nothing to do with it--it's usage.

I've poked on you guys about this constantly. You STILL DONT HAVE a "use potcoins" link on the website, despite saying you needed to get one up and that it would be really easy. Why is that?

I'm sure many others feel this way, and have the same thought I do: we'll pump it up before the halving and dump the coin 6' under and walk away with some profits, like has happened with almost every other halving. Then your network will suffer from attacks and forks, and you can enjoy that mess. So definitely, please do halve it. I can't wait to make bank off of your idea.

Or. You could not be so silly, and not change the halving, and WORK on getting USES for the coin.

Weren't you the one who just 2 weeks ago said that you believe it'll be worth $1 per coin or more in a year, and that you suggested folks just hold onto it until then? This kindof goes against that doesn't it? It just really sounds like you don't have a business plan, and/or you have no clue what you're doing. You're reactionary when you don't need to be.

I hate to say it, but you seem half baked in your execution.

Most have switch from kgw to digishield...I wonder how long it will take before a hole in that is found also

Son of a bitch.. it's stuck again!



Block 236921
Almost the same time as yesterday.

As an example of another coin that has not implemented the "supposed" fix to KGW yet you can see a similar situation...it is currently stuck at block 440127 and I expect it will be stuck there for a few hours. Hopefully miners wont notice and ditch the coin before the next block is found or it may get stuck. Notice the blocks going back in time right before getting stuck.

This coin normally has about 100 Mh/s and a diff in the 0.7 range:


One thing that should be noted is that there is not really 77.3 Gh/s on this coin. That estimated hashrate and diff are an effect of the exploit. (I think)

Good to hear....I hear the "patch" for the KGW flaw was more of a bandaid as it still left the vulnerability in place but only made it harder to exploit. Just passing along what I recall. I have not followed it closely. Wish you and your team the best of luck!

haha, same people that Wiz Khalifa uses nice!  

I suggest selling them with basic instructions how to load the wallet too for noobs. Like an modifying this infographic or something: https://i.imgur.com/2GBKcFx.jpg

www.potchain.net the official block explorer of potcoin is back up - we had some issues with it getting stuck over and over the same block but we finally found the issues and fixed it.

we will be fixing all the things related to BITCOIN - since this is a port of INSIGHT for bitcoins -  anyways this is a great explorer build in node and we will be modding it.

We are working on getting the Live USD price from www.potcointousd.com

try out the QR scan feature on your phone works great!

Custom Potcoins rolling papers loaded with potcoins!  are we intested in?

http://www.reddit.com/r/potcoin/comments/25c0hl/potcoin_rolling_papers_loaded_with_potcoins/

we did patch the KGW remember -

we patched right after aurora got attacked, we where one on the first coins to patch and we did it very quick....


WE MAY PUSH THE HALVING FORWARD TO REVIEW THESE ATTACKS TO FIND A WE CAN FIND A FIX>>>> i will talk to the team.  we are working on the wallets now so this is good timing.

I am pretty sure potcoin had a time warp scare and patched this issue a long while ago.


That is what I was thinking happened.

Thanks for confirming it was the timewarp vulnerability. I obviously don't follow this coin closely but noticed the situation right before I was about to start mining. Went elsewhere as I knew it would be stuck for a few hours.

Have seen the same thing happen to other coins that have not yet fixed this....the "reported" diff and hashrate shoot way up until the next block is found. Without enough hash power a coin can get stuck in this situation.

I suggest the devs make fixing this vulnerability a priority over anything else.

Yes KGW is implemented. Timewarp attacks artificially reduce the difficulty so that somebody with a lot of power can mine a lot of coins at low difficulty. The number you quoted was too high. We would see something like difficulty 1 or 5 or something else low.

A couple of large multipools could have jumped on simultaneously, solved some blocks and jumped off when KGW shot the difficulty up. Without their added hash power it took 2 hours for the next block to be solved by a smaller pool.

Look around block 234897. Does POT use KGW? Looks like a timewarp attack. Notice block 234894 go back in time then two hours between block 234897 and 234898.

On a PotCoin? I don't think so.

I checked the chain and didn't see anything either, i was really interested. If someone had THAT many asics.. Jeeze, maybe a manufacturer testing things?

I saw this a few hours after he posted. Net Hashrate was < 3 Gh/s at the time