UltraCoin Mining Update
As UltraCoin matures, the UTC team is working hard to ensure the short-term and long-term viability and profit of the coin. We have heard from the mining community, pool operators and investors, and are working closely with them to address various issues and prepare UTC for future growth. As such, we would like to communicate our plans with you and will continue to do so regularly.
The UltraCoin Plan
1. Bring new coin developers on board. We have found very capable coin devs, with experience developing and modifying many other coins. They are already hard at work.
2. Modifications to wallet, to address software version updates and prepare for future changes. This phase is complete.
3. Modifications to Nitro1 pool. As you probably know, Nitro1 currently has a large proportion of the total hashrate for UTC. Stuhlman, the operator of the Nitro pool, has instituted a 2 hour daily shutdown of Nitro1 to address this, until future changes to UTC fix the issues causing this problem.
4. Recruiting new pools. We are actively working to bring more large pools into the UTC family. We will keep you updated as we work on this.
5. Additional modifications to wallet, to apply heartbleed fix, coincontrol and reward cutting. We expect this change to be in place within the next two weeks.
The change to add coincontrol will allow the user to "segment" his stash of coins, keeping the oldest coins available for proof of stake, and spending the newest. We have seen a preview of this function and are quite excited about what it offers.
The decision to cut rewards was made after input from the entire UTC community. In the short-term, this may have an effect on daily mining profits, but we believe that in the long-term it will lead to higher prices, negating any negative impact.
Cutting rewards also extends the lifecycle of UltraCoin, reducing supply and ensuring that all coins are not mined in just a few years.
5. Possible change to Proof of Stake schedule. We are also listening to the community to decide how the POS schedule should change. Most people agree that 1 year is too long. We will keep you updated as we think this through.
I personally want to thank all of the miners, pool operators and investors for sticking with UltraCoin. While we have many exciting changes and features in development, we recognize that we are at a critical juncture with the coin. I, and the entire UTC team, am 100% committed to the success of UTC and sincerely hope you will stay with me as we work to make this coin successful.
As a special treat, I'd like to share with you a new page, put together by a loyal member of the ultracoin community: whattomine.com. As you can see, UltraCoin is still the most profitable coin to mine. Our plans will make it even more so.
Team UTC
@bumface
My suggestion, can the n-factor low down to N=11, and keep it for a long time?
Before 4.6 , I and many of my friends are mining UTC, but after N into 12:
(1) some of them who just have 4G ram cant get the best benefit.They out to other coin.
(2) 8G ram with 290 just get 2/3 coins when N=11. so they out.
(3) Other people who have R9 270 cant pay the electricity bill, they out.
Many people out when the n to 12, because they dont know and cant get benefit like before with old machine.
So the n-factor low down to N=11 can bring more miners.
And N time is not need change shortly, just like VTC and EXE, they keep one N for a year. Asci cant catch.
I think the first things to a successful coin is it can lure more and more miners, then more and more dev will come, then more and more peoples will use this, then asci will come (because the coin is worth it).
Hope utc will go to the moon, and the price is bottom now.
