Posts made by archminer

Very well said, much better than I could put it together.

[quote name=“Bushstar” post=“6332” timestamp=“1369481630”]
I have never been able to contact BTC-e, I approached them a few times in the run up to and on the day of block 33,000 but never got a response.

I would like to know what prompted them to change the confirmations to 50 as this could give us a clue as to what these people are up to.

Are they trying to sell FTC for BTC and ultimately retain both or are they trying to suppress the price. Yesterday we saw massive sell orders pushing the price down and still sat there at a very low price before disappearing.I’m wondering if this incident could have been the reason for the confirms going up. I will go and try to contact them again to get more information.

My thinking is that they are either trying to make money or ruin us. If making money is there goal then with higher confirms on exchanges there are much easier targets now. If they are trying to ruin us then they will stick around and give us an extra incentive to add value.
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I submitted a ticket asking these questions, and they just replied “We know”. Gosh, they are terse guys.

[quote name=“Bushstar” post=“6320” timestamp=“1369477269”]
I’m glad we have this thread. We are already making sense of what could be happening. Now that BTC-e has 50 confirms it is safe. I have now contacted Vircurex, BTER and Cryptonit by email. I will go spam their ticketing system in a minute.

If this is a pool it would have to be a scrypt pool. Are there any clues as to whether any hash power left the pools at the time of the attacks?

But then considering the CTB (BTC backwards) in the address it could be a member or members of the BTC cult or the CTB could be misdirection perhaps.

Too much guessing will turn us paranoid so we should not start jumping at shadows.
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If my eyes aren’t cheating me it’s CBT not CTB…

[quote name=“Bushstar” post=“4229” timestamp=“1368820837”]
[quote author=robep00 link=topic=505.msg4226#msg4226 date=1368820187]
I estimate about 1 month at this rate to find 175 blocks. Is it realistic?
[/quote]

We’ll get things moving one way or another before then.

There are some mining groups out there that could make our blocks move very quickly. This was my concern, that setting the change too close could actually expose us to attack. We have been attacked from so many angles already and it would be no surprise if someone boosted our hash to get a hard fork in before the exchanges pools did.

Coinotron is getting more hash power for Feathercoin. We do have hashes behind us and we will get there.
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But if they have that kind of hash power and they want to hurt FTC, they simply need to launch a 51% attack.

[quote name=“justabitoftime” post=“4154” timestamp=“1368797450”]
As part of a long-term mining initiative, I’d like to attract gamers to the world of mining. Similar to the ‘What is Feathercoin’ video, I will do a voice-over and animation that we can distribute to all the sites (in fact, we might even do a separate press release). I need help with the script… Here’s my initial thoughts:

1. Under 60 seconds
2. Briefly mention they can produce coins with their existing hardware
3. Maybe mention they can upgrade their machines and have resale value on the cards
4. Mining for Bitcoin requires ‘big rigs’, Feathercoin allows you to enter the crypto market
5. Create coins while your PC is just sitting there anyway
6. Point them to the Gamer section (needs to be created on the forum)

I look forward to your input. I’d like to get a script to the voice-over talent by mid next week. While this won’t solve our immediate hash issue, this will contribute to the long-term success.
[/quote]

Great idea!

[quote name=“Pathosverdes3” post=“4123” timestamp=“1368786025”]
[quote author=archminer link=topic=505.msg4122#msg4122 date=1368785580]
@Bushstar I told you you should take the decline in hashrate into account when estimating how many blocks will be generated in a week. In the two days after the hard fork only 30 blocks were generated. Even if the hashrate doesn’t drop further the retarget is still 12 days away…
[/quote]
There was no hard fork yet, what are you refering to?

You are right in the fact that the network hash rate is declining and Time to Retarget is growing. Somehow the network hashrate must increase or it’s going to crawl to a stop.
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Sorry, I was referring to the release of the new client.

@Bushstar I told you you should take the decline in hashrate into account when estimating how many blocks will be generated in a week. In the two days after the release of the new client only 30 blocks were generated. Even if the hashrate doesn’t drop further the retarget is still 12 days away…

[quote name=“Radacoin” post=“3589” timestamp=“1368602449”]
@Bushstar: When is the update comming?

Network Hashrate down to 318,149 KHash/s
[/quote]

Also @Bushstar, don’t forget to take the decline of hashrate into consideration when estimating how many blocks will be generated in the next week.

6m1nUtyN64fKiRgyvCkDGZgxz8nENEzajv

Thank you.

[quote name=“ChristianRiesen” post=“2882” timestamp=“1368395801”]
@Bushstar: Can we please have a JSON form of the stats page as well?
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Currently the most important thing is to get the new client out. I don’t think Bush should waste his time on this at the moment.

[quote name=“spynappels” post=“2754” timestamp=“1368361371”]
So we would all need to install new wallets, but can leave our miners pointed to the same pools, assuming we mine pools? Is there anything else we need to do?

Would we need to move any coins we have out of the wallet, or will the new wallet just use the wallet.dat that is already there?

Some info on this woukd be good in any announcement.
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You just need to update your FeatherCoin software, ie, install the new version.

[quote name=“Bushstar” post=“2742” timestamp=“1368359096”]
The more I consider this the more I realise that this needs to be done. We have seen other coins go through successful forks so it can be done. If we do not then when the difficulty goes down we’ll be mined to another super high difficulty and end up in this situation again. Freicoin has now come to this conclusion. I do not want to wait many months for a solution and this is still easier to do when we are young.

The problem with IE6 is that people can still use Google and check their emails. Plus you still have some very large legacy systems that do not work with anything other than IE6. I came across a system where people still have to use Netscape Navigator :)

Anyway, let’s not get too divided on this issue as we all need to stand together.
[/quote]

Can’t agree more. And I agree that you should take your time to come up with the best solution. However in the meanwhile please update the stats page to tell people that you care, and you are preparing a solution, and therefore the next difficulty adjustment is not months away. This will give people confidence, and it will help spread the word that a new version is upcoming, so that when it actually comes out more people will know about it and the transition will be more smooth.

IMHO you should also link to the life support thread in the stats page, to show people not only the devs care, the community cares too.

Can’t agree more!

Block 32760 is only 66 blocks away, any update on when the new version will be released?

It does catch up. The effects after 2016 blocks are almost the same as before.

Great news bush! Looking forward for this getting pushed out.

[quote name=“Bushstar” post=“2230” timestamp=“1368203680”]
Let’s talk about difficulty. There are a lot of people who are keen to see a technical change to the way that difficulty is handled. These requests are down to Feathercoin being at a high difficulty compared to the amount of hash power on the network.

One proposal is a difficulty adjust every 504 blocks and at a difference of 40% maximum.

There have been some interesting suggestions put forward that would take more time to implement and test than it would take for us to get out of the current high difficulty. Perhaps the solution is an involved one and will not be seen soon.

Miners are important but there is already a lot of coins in circulation. A dry spell in new coins does not mean the end of the coin. So do not get too worried about this.
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The problem is not the dry spell in new coins, but rather the risk of a 51% attack and the fact that the coin is unusable at the moment due to the time it takes to move coins around.

[quote name=“Bushstar” post=“2135” timestamp=“1368186969”]
If we went for a 504 difficulty adjust we need to work out how much the difficulty will be adjusted. We do not want the overall effect to be drastically different, we want to end up with a more fine grained difficulty adjust. I have made a couple of rough tables below comparing the difficulty value when it goes up.

Normal difficulty adjust
0…2016 Block count
4 …16 Difficulty going up 400%

504 difficulty adjust
0…504…1008…1512…2016 Block Count
4…5.6…7.84…10.96…15.36 Difficulty going up by 140%
4…6…9…13.5…20.25 Difficulty going up by 150%
4…8…16…32…64 Difficulty going up by 200%
4…16…64…256…1024 Difficulty going up by 400%
[/quote]

I like the 140% scheme.

I think it’s really necessary that we do this ASAP. There are two important goals:
1. Adjust the difficulty ASAP
2. Don’t allow the difficulty drop to something like 27 after the adjustment which may again unstabilize the market and set the stage for another big swing in difficulty.

Your proposed scheme can help us reach both these goals.

I don’t believe we can just sit here and wait this one over, that would probably be more than a month’s wait. It happened with FRC, but things have changed. We have new alt-coins coming out everyday now, we either proceed or be abandoned. With such a low hashrate and long transaction time, even if we can escape a 51% attack, the coin will still be basically dead (unusable) in the coming month.

No merchant will accept a coin in such a shape.

Well said. :)