Topic: [Ultracoin] [Est. Feb 2014] ~ ASIC Resistant & Ultrafast 6 Second Transactions! - page 98. (Read 381063 times)

UTC difficulty adjustment was always known to oscillate, even 2 years ago ... (I thought of it as a feature    ).

But the current difficulty adjustment is failing very hard.

That being said, yes Digishield is the way to go.

Rob - its a gift.  No need to repay anything.  Just by trying to mine UTC you are repaying all of us.

Cheers - usukan




Someone just sent me 1000 UTC from address UZ3B1fCGsPeUtoCxsSVJSMWB7EKhiDd36q  how can I send you some btc for your help?

Hi Emerge

I'm interested in your comment on Poloniex.  What are the major issues?

I know they freeze up when ETH trading goes ballistic - the volume is huge so its to be expected on an exchange that was not scaled to this unexpectedly massive volume in spikes.  They are going to do a major upgrade in a few weeks so that should sort that issue.

One user had his account hacked yesterday - but likely they did not have 2FA enabled so not to be expected but a good reminder for everyone.  This will happen on most exchanges and is not an exchange issue.

I have used Polo no probs on many different alts - never an issue.

Is there something else thats an issue - please discuss.

When Cryptsy vanished - with many of our UTC and other funds it left a massive hole for UTC.  Cryptsy was the major exchange and we got a lot of trade from the washover effect of the thousands of users there trading other coins.

UTC is in a dangerous position at present with just one exchange trading our coin - because if UTC was delisted we have nowhere to trade.  The other advantage of multiple exchanges is that its less easy to manipulate price either up or down.

I would not suggest we try and list UTC at Polo right now - I said when we get a few things sorted out - so I am thinking in terms of months.

Polo is the number 1 ALT trading platform and it has taken over Cryptsy users.  I still believe it is the place to put UTC when we have everything sorted for the foundations of UTC.

Are there any other exchanges that you have used that are worth considering?

Cheers - usukan

No block explorers for UTC that I know of - this was the last known block explorer

http://ultrabex.tumblingblock.com/

last synced in Nov 2015

Are there any working block explorers for UTC out there?

With regards to the Android wallet, might be worth to check this out: https://coinomi.com/AddingSupportForANewCurrency/ (concerning this wallet app https://play.google.com/store/apps/details?id=com.coinomi.wallet&hl=en)

Indeed very fine and nice to see what a necessary action and a little push in the right direction from Paul put’s things in motion now.
I really, really love it.
If this works and the right professional people stepping up and can work together with coding and further development than UTC can be great again.
But there must be, in my opinion, also a central contact person who can discuss and inform organizations and exchanges and keep Facebook and Twitter updated.
All in the name of Ultracoin.

I think it would be a bad move to get listed on Poloniex.. Poloniex is having MAJOR problems right now and to move some volume (which Ultracoin is having little of right now)
to Poloniex would only cause problems for users..


Yeah, hopefully some extra effort would bring back UTC

Amazing...

Look at what happens when people stop begging, "Dear leader, please take care of things!"

rapture333 and Kracko were GROSSLY incompetent. If you read my correspondence with them, in this thread, it should be obvious! I was wondering... how many times do they have to be wrong before people will actually listen to reason and logic!

No matter. Hopefully, those little cancers stay away for good. Because I absolutely promise you, rapture333 will only make things worse.

I agree with alenevaa. Why reinvent the wheel with difficulty adjustment? Is there an argument against DigiShield?

An android wallet? Are you kidding me? That would be amazing!

UTC will have a niche at NF14. I personally believe NF15 caters to the most hardware, while also requiring less power consumption. If you look at prices/marketcap of the scrypt-chacha coins at NF15, it tends to agree with my theory. Of course, NF14 might be 'close enough.'

Yep - waiting is over - community is back - bit by bit we will crack this together.

Great - thanks Alenevaa - I agree (better to wait and do it right once with DigiShield)

Sweet activity! how I have missed you guys  

It's better to use (IMO) the approved algo for difficulty adjustment (such as DigiShield) than try to fix own scheme.

I will upgrade the pool wallet when the new devs make changes.

and when we get a few things sorted out - we need to get UTC on Poloniex.

https://poloniex.com/exchange#btc_eth

OK - I see.

Not a bad idea - I guess things to watch are security and reliability of host. Others may have some tips/comment.

If my understanding is correct you would also be able to use this framework for a "lite" web based desktop wallet for PC/Mac also?

Of course its absolutely mandatory the private keys are held by the user and these are secure especially during transactions.  I'm not tech but thats my question from the risk related to centralisation.

Cheers

I was thinking of hosting it and making a Javascript based Mobile App which could easily be ported to iOS and other mobile platforms

@ Emerge

well if you can that would be simply amazing - thanks for your offer on this.

Just to be clear - the Android and the Lite wallet are the same thing.  We are calling it a Lite Android wallet simply because the Kracko one downloaded the whole blockchain.  We want a wallet that is along the lines of most other Android wallets and does not do this (hence we are calling it lite).


Of course we could do with an Electrum/Multibit style desktop wallet - but thats best left till after we get a good Qt wallet up and going.

If you do manage to do an Android wallet - keep in mind upgrading after we fix up the Qt wallet (resource issues) and the diff retarget and we do a fork.

Cheers - usukan

@Roister01

Totally agree on this - we need an Android wallet - but a lite one.

Unfortunately we need to get the basics - the foundation of the coin - cleaned up before this

There is already an Android wallet that Kracko built but it required your phone to download the whole blockchain.  This is totally impractical.
There is a lot of work to do to modify this or maybe better rebuilt from another open source template.
After we get a team together we must get a Dev or two to take on this project. Steven alluded to Kracko making a start on the work but I guess we will not find that work.

this was Stevens last update on plans in Nov 2015:

-----------------------------------------------------------------------------
Hello everyone,

There is currently an issue with the wallet that may cause the wallet so terminate randomly, Kracko believes he knows why and is currently trying to isolate the problem and release a fix.

As for developments, I was just looking at the UTC game plan for 2015:

1. Android & iPhone - QR Codes - Lite Wallet - GUI
2. Merchant Services Pluigin
3. One Click Miner
4. NFC Wallet
5. Bitcoin/Ultracoin ATM
6. New Ultracoin Website
7. Hire Developer and Marketers
8. Ultracoin Shop

Now that the new wallet is out, the one click miner shouldn't be too difficult, especially considering we are glued to our current N-Factor. As for the Bitcoin/Ultracoin ATM and NFC Wallet, that will come with more time and money when we have greater investor support. As for the merchant services plugin, third parties seem to be tackling this issue fairly well, the best thing to do is to get more third party support like we have with companies such as coinpayments. Until then, here is our line up for development projects in order of priority:

1. One Click Miner
2. Ultracoin Shop
3. Android & iPhone - QR Codes - Lite Wallet - GUI
4. Hire Developer and Marketers (Currently accepting volunteers)

The one click miner shouldn't be too hard, and should open us up to a many GPU miners who lack experience in crypto-currency. The project was undertaken by a freelance developer a while ago, however, he was never able to bring the project to fruition. Kracko believes he should be able to iron this out fairly quickly. The Ultracoin shop will be undertaken by me and will feature Ultracoin memorabilia including t-shirts, stickers, etc. The next step is the Android & iPhone wallets, this is a big step and something we have put on the back burner, we currently have a working version of an Android wallet, however, the CPU usage is so demanding it is impractical for regular users and will drain battery life just updating the blockchain. We have been looking into lite wallet systems, whereby the user only downloads the blocks necessary to validate transactions that make up the users Ultracoin, thereby eliminating the need to download a substantial amount of the blockchain. This will be our next important step. Lastly, hiring more developers and marketers has always been a goal for our expansion, but the capital required in a non-profit project like this requires a lot of private funds, and we are currently accepting volunteers, but we still have our eyes on potential developers and freelancers who are want to become a part of the team at a reasonable quality to price ratio for their time.

Sincerely,

Steven "Rapture"
Management Director
[email protected]
Ultracoin

---------------------------------------------------------------------

I would suggest that the new roadmap be reorganised something like this:

1. Get a Dev team and Manager overall for UTC

2. Fix current Windows wallet (retargeting and streamline resource usage by wallet)
2. Get Marketing manager
2. Add a second mining pool
2. Get a block explorer
2. New or update - Ultracoin Website (add blockchain download http://cryptochainer.com/dir/)

3. Android wallet - QR Codes - Lite Wallet - GUI

4. IOS wallet
4. Iphone wallet

5. One Click Miner

6. The exciting stuff - whats our vision for UTC - apart from the price going up. How can we give the coin utility in an attractive niche amongst all the other ALT coins. Does the algo have something that is useful that could set UTC apart. We have plenty of time to discuss this.  We need to make UTC a preferred currency in a specific niche.  That will be the community's challenge to choose 1 or two areas and work towards this.

Of course price is not unimportant. With little or no value we have few options to fund development and promotion. If the price goes up the community has combined resources to fund worthy projects - by donations. I doubt we really want to hand control over to "investors" again.  Its a bit of a chicken or egg thing.  Which comes first - price increase and then development OR development then price increase.  Truth of the matter its going to need to be both from the start.

• Development from volunteers - Manager, marketer and devs
  Price increase from supporters and believers in the new UTC and its future - these are investors who buy UTC at Bittrex. They are just as important as management and devs and miners

So we need to get our foundations in place (1-2 below).

1. Get a Dev team and Manager overall for UTC

2. Fix current Windows wallet (retargeting and streamline resource usage by wallet)
2. Get Marketing manager
2. Add a second mining pool - and get a way lot more miners interested (but this comes naturally from price)
2. Get a block explorer
2. New Ultracoin Website

Then we can move on to the other important areas for growth.

In the meantime - if investors/community want to support the coin and they can't help with management, marketing and the tech end of development - your opportunity (not without great risk but certainly with potential for commensurate reward) is to show your belief in the new UTC and buy up on Bittrex. To me it already seems some signs already there at Bittrex and we have not even got started yet?

We should set some targets on price to see how we are scoring (these are only arbitrary - but you will get the idea).
Target 1 - 0.00001/1000 (coin has been resuscitated)
Target 2 - 0.00005/5000 (UTC is back in business and we need to set in stone our vision and start work towards tailoring UTC to this)
Target 3 - 0.0001/10,000 (Time for some serious development and roll out UTC into our chosen real world use areas)
Target 4 - 0.001/100,000 (Its working - take your rewards for all your work and risk - then get ready for a new vision that we apply to expand)

A lot of people say don't worry about the price - I DO worry about the price.  When the price is low - you have no options - there is nowhere to go. Take a look at ETH recently - almost burnt all their funds - price low - moving to volunteer options to maintain things - they got it now almost to Homestead now like this with massive community support - price has taken off - they are now hiring and development will explode and take them to rival Bitcoin.  Price gives you options.  Of course it goes up and down with artificial pumps and dumps from non believers and fickle supporters - this will never stop.  However - PRICE is the only real benchmark to how you are performing.  There are a lot of projects that have done rather elegant technical work but the price does not follow because the market and users don't value the developments.  You can't afford to waste the opportunity for funding when price goes up.  We did waste this last round of high price in UTC and its why we are back to volunteers again. I believe if you are not growing and changing in Crypto - you are dying.  

If we are serious - we need to develop a funding mechanism for growth. We can discuss this going forward and any ideas welcome - but at the end of the day it probably comes down to donations to a Dev fund - but after the price has gone up and it really is at no extra cost to contributors from the community because they are all in solid profit.  I would not worry about donations at present because we have not proved any capability yet - and really don't deserve any trust.

In the far off future - we need to create a vision that includes UTC making a revenue stream from providing a genuinely useful product/service.

Community - please discuss any or all the above.  Anybody who wants to volunteer - step right up.  Please spread the word!

If anybody else wants to lead this - please cut in (you're entirely welcome).

Cheers - usukan