Quote from: Zeus on March 30, 2014, 12:04:18 AM
Can someone explain me in very simple terms what does "time to retarget 14days" mean? Is there a way someone can watch that if he is not a miner?

Time to retarget is anticipated date when the difficulty of mining drops in some algorithm-defined fashion. Reducing the difficulty increases profits for miners and makes it more attractive to mine as compared to other alt-coins. You can track it here http://mrx.im/pts.php

If there are not enough miners someone could double-spend against an exchange. Nobody can steal your pts, ever.

Sent from my SCH-I535 using Tapatalk

I am not a tech guy so I don't understand much of what you guys are talking about here but I am getting worried..

If I understand correctly, if miners stop mining PTS then the network will not be safe? Attacks can happen and I can wake up a nice morning and realise that my wallet is empty? Or I missunderstood something with the checkpoints that Barwizi was talking about?

Can someone explain me in very simple terms what does "time to retarget 14days" mean? Is there a way someone can watch that if he is not a miner?

I must be one of the very few people that didn't sell any PTS after the 28th snapshop but instead kept buying more because I believed in their long term value. Although it was well expected by everyone that PTS will devalue and was well communicated in the forum. Are we in a similar situation now? Do we expect the value of PTS to fall further? I wouldn't like to be again the guy who kept his PTS instead of selling them now and buy them again at a lower price in the future...The 28th mistake was more than enough to devalue the m2m of my portfolio in half... :(

Blocks to retarget: 1064
Time to retarget: 14d 01:53:27 (2014-04-13 01:59:22 UTC+9)

Are we going to just ride it out? I keep mining as I don't pay for electricity but I am a bit miffed as I continue out of sentiment and not a rational economic decision.

That is what I meant. It shifts up and down continuesly.

Value of PTS has risen 10% since 2 days.

But overall the dot on the horizon is still over 30 days away.

And remember that prior to reaching block 1589 people will already start mining it to be the first to profit from the lower diff.

So the diff will not reach 0,0129. Because the startup will be calculated as well.

Quote from: maqifrnswa on March 19, 2014, 05:41:34 PM

Quote from: Hukkel on March 19, 2014, 08:23:16 AM

Quote from: toast on March 18, 2014, 04:54:30 PM
~18 days ago it was 42 also
15 days ago it was 42
today it is 37

So it went from ~0 days/day to ~0.3 days/day. I'm forecasting that the rate will continue to increase.

Your information is wrong.
It constantly swings all over the place. One moment it is 30, then 35 days and then 47 days.
Fact of the matter; the estimated difficulty is still dropping and since the snapshot the estimate hasn't been under 30 days. And that is 3 weeks ago!!!

This means the interest in the share is still getting less each day and the estimated will stay the same. It will only get shorter when only the few die hard miners are left mining this. You have no idea when this will happen. But it will take at least one more month and quite possibly 2 at least.

What you will see happen is the same as the Ron Paul Coin has had in the past. Interest is huge > everyone mines > difficulty shoots through the roof > everyone stops mining > difficulty drops to an extreme > takes a loooong time for the amount of blocks to have passed > the blocks is past > everyone drops onto the coin again and mines like crazy > rinse and repeat.

you're right on re:RPC. oscillations may become the norm for PTS since every snapshot will cause a shock to the mining market. The built in lag in retarget will cause oscillations, no way around it without hardforking.

However, the trend is currently towards increasing hashrate (and is continuing the trend toast pointed out)
Time to retarget: 27d 18:33:18 (2014-04-16 20:56:31 UTC+9)
Network hashing speed:
Last 100 blocks: 5,183,071.87 cpm ETA: 33d 16:33:40
Last  50 blocks: 6,287,297.60 cpm ETA: 27d 18:33:18
Last  15 blocks: 6,675,888.98 cpm ETA: 26d 03:45:22
Last   5 blocks: 6,937,143.86 cpm ETA: 25d 04:06:52

so over the past 100 blocks hash rate has been increasing, most likely due to discussions on new DACs and a corresponding rise in PTS value.

new numbers:

Blocks to retarget: 1589

Time to retarget: 32d 18:25:53 (2014-04-22 13:29:03 UTC+9)

Network hashing speed:
Last 100 blocks: 5,124,494.03 cpm ETA: 33d 12:08:23
Last  50 blocks: 5,239,885.17 cpm ETA: 32d 18:25:53
Last  15 blocks: 4,674,080.41 cpm ETA: 36d 17:37:48
Last   5 blocks: 4,034,575.72 cpm ETA: 42d 13:22:26

hashrate goes down - the real point is the blocks before retarget: 1589

Quote from: Hukkel on March 19, 2014, 08:23:16 AM

Quote from: toast on March 18, 2014, 04:54:30 PM
~18 days ago it was 42 also
15 days ago it was 42
today it is 37

So it went from ~0 days/day to ~0.3 days/day. I'm forecasting that the rate will continue to increase.

Your information is wrong.
It constantly swings all over the place. One moment it is 30, then 35 days and then 47 days.
Fact of the matter; the estimated difficulty is still dropping and since the snapshot the estimate hasn't been under 30 days. And that is 3 weeks ago!!!

This means the interest in the share is still getting less each day and the estimated will stay the same. It will only get shorter when only the few die hard miners are left mining this. You have no idea when this will happen. But it will take at least one more month and quite possibly 2 at least.

What you will see happen is the same as the Ron Paul Coin has had in the past. Interest is huge > everyone mines > difficulty shoots through the roof > everyone stops mining > difficulty drops to an extreme > takes a loooong time for the amount of blocks to have passed > the blocks is past > everyone drops onto the coin again and mines like crazy > rinse and repeat.

you're right on re:RPC. oscillations may become the norm for PTS since every snapshot will cause a shock to the mining market. The built in lag in retarget will cause oscillations, no way around it without hardforking.

However, the trend is currently towards increasing hashrate (and is continuing the trend toast pointed out)
Time to retarget: 27d 18:33:18 (2014-04-16 20:56:31 UTC+9)
Network hashing speed:
Last 100 blocks: 5,183,071.87 cpm ETA: 33d 16:33:40
Last  50 blocks: 6,287,297.60 cpm ETA: 27d 18:33:18
Last  15 blocks: 6,675,888.98 cpm ETA: 26d 03:45:22
Last   5 blocks: 6,937,143.86 cpm ETA: 25d 04:06:52

so over the past 100 blocks hash rate has been increasing, most likely due to discussions on new DACs and a corresponding rise in PTS value.

bitcoin is a big experiment... why not PTS as well?  :)

Quote from: toast on March 18, 2014, 04:54:30 PM
~18 days ago it was 42 also
15 days ago it was 42
today it is 37

So it went from ~0 days/day to ~0.3 days/day. I'm forecasting that the rate will continue to increase.

Your information is wrong.
It constantly swings all over the place. One moment it is 30, then 35 days and then 47 days.
Fact of the matter; the estimated difficulty is still dropping and since the snapshot the estimate hasn't been under 30 days. And that is 3 weeks ago!!!

This means the interest in the share is still getting less each day and the estimated will stay the same. It will only get shorter when only the few die hard miners are left mining this. You have no idea when this will happen. But it will take at least one more month and quite possibly 2 at least.

What you will see happen is the same as the Ron Paul Coin has had in the past. Interest is huge > everyone mines > difficulty shoots through the roof > everyone stops mining > difficulty drops to an extreme > takes a loooong time for the amount of blocks to have passed > the blocks is past > everyone drops onto the coin again and mines like crazy > rinse and repeat.

Quote from: testz on March 18, 2014, 04:55:39 PM

Quote from: newmine on March 18, 2014, 04:39:30 PM
I just observe and report. If you guys (3I) don't want to do anything about it, then so be it. If something catastrophic happens in the near future, you can bet people will point back to this and wonder why nobody took it seriously.  I could be wrong too. If at the current rate of col/min dropping off the network compared to 15 days ago we will never see the retarget happen.

All that we can do requires hard fork, that we always can do if "catastrophic happens".
Currently network has approximately 2 blocks per hour, it's enough for normal operations and it's can be a problem only for speculators and exchange arbitrators, they should wait more.

Quotethey should wait more

:o

Quotewe always can do if "catastrophic happens"

So you'd rather wait for the catastrophe?
0.

LOL, everyone, just mine NRS.

Quote from: bitbadger on March 18, 2014, 05:50:50 PM

Quote from: testz on March 18, 2014, 04:55:39 PM

Quote from: newmine on March 18, 2014, 04:39:30 PM
I just observe and report. If you guys (3I) don't want to do anything about it, then so be it. If something catastrophic happens in the near future, you can bet people will point back to this and wonder why nobody took it seriously.  I could be wrong too. If at the current rate of col/min dropping off the network compared to 15 days ago we will never see the retarget happen.

All that we can do requires hard fork, that we always can do if "catastrophic happens".
Currently network has approximately 2 blocks per hour, it's enough for normal operations and it's can be a problem only for speculators and exchange arbitrators, they should wait more.

A bounty per block (or per N blocks, randomly paid out) to increase the effective block reward would not require a hard fork.

As a miner, I would tweak my hardware to work when fees + reward > profit_level. 

I would suggest that those who make transactions pay these fees rather than expecting someone else to subsidize the miners.  This would be 'random' and if miners started seeing these fees go up then block speeds would pick up.

To get miners interested we would have to spend an average of $840 per hour either randomly or spread out to double the profitability of mining and get it back in line with where profit-oriented miners expect it.  In other words, 100% of our PTS donations every day.   

Quote from: testz on March 18, 2014, 04:55:39 PM

Quote from: newmine on March 18, 2014, 04:39:30 PM
I just observe and report. If you guys (3I) don't want to do anything about it, then so be it. If something catastrophic happens in the near future, you can bet people will point back to this and wonder why nobody took it seriously.  I could be wrong too. If at the current rate of col/min dropping off the network compared to 15 days ago we will never see the retarget happen.

All that we can do requires hard fork, that we always can do if "catastrophic happens".
Currently network has approximately 2 blocks per hour, it's enough for normal operations and it's can be a problem only for speculators and exchange arbitrators, they should wait more.

A bounty per block (or per N blocks, randomly paid out) to increase the effective block reward would not require a hard fork.

Quote from: newmine on March 18, 2014, 04:39:30 PM
I just observe and report. If you guys (3I) don't want to do anything about it, then so be it. If something catastrophic happens in the near future, you can bet people will point back to this and wonder why nobody took it seriously.  I could be wrong too. If at the current rate of col/min dropping off the network compared to 15 days ago we will never see the retarget happen.

All that we can do requires hard fork, that we always can do if "catastrophic happens".
Currently network has approximately 2 blocks per hour, it's enough for normal operations and it's can be a problem only for speculators and exchange arbitrators, they should wait more.

~18 days ago it was 42 also
15 days ago it was 42
today it is 37

So it went from ~0 days/day to ~0.3 days/day. I'm forecasting that the rate will continue to increase.

The scarier thing IMO is what happens *after* the difficulty gets fixed. Then you'll see a rate of >>1 day/day. Hopefully the price is high enough after the 2nd (3rd, depending on how you count) that the 2nd Great Miner Exodus never happens at all

Quote from: toast on March 18, 2014, 04:06:11 PM

Quote from: newmine on March 18, 2014, 04:03:12 PM
Blocks to retarget: 1675
Measured: 58.46%
Estimated difficulty: 0.01291682 (35.65%)
Time to retarget: 37d 23:14:47 (2014-04-26 00:14:11 UTC+9)


Is anyone working on this still?

So you're saying it went down? It's all good then right?

15 days ago it said 42 days. I wouldn't say "all good".

Quote from: toast on March 18, 2014, 04:06:11 PM
Dan offered to pay someone to do it, that person took a look and decided it wasn't necessary. If you submit a patch I'm sure you'll get paid the same.

If I had those skills to do it, I don't think I would be asking.

I just observe and report. If you guys (3I) don't want to do anything about it, then so be it. If something catastrophic happens in the near future, you can bet people will point back to this and wonder why nobody took it seriously.  I could be wrong too. If at the current rate of col/min dropping off the network compared to 15 days ago we will never see the retarget happen.