The pools don't get cutoff, they decide difficulty has increased enough to change coins and left it to the regular miners. For why that is bad for regular miners, just read SilentBit's post.
The next 15 blocks in the list are the same 3 addresses listed above, with the addition of one more (MQkqCo7Wdr88iM5F6pJjc3x69iEmqiaD7F) grabbing the first and last three of the series. Someone with more time (I need to go back to work), can look at those addresses.
That's what I meant by being cut off, the diff catches up to them and they stop hashing while normal miners continue as usual.
Now ask yourself this question: how would the litecoin network react to a 5-10x increase in hashrate and a 5-10x decrease in hashrate as soon as the diff adjusts to the increase. Allow me to answer: their network would freeze up as most of the other coins in existence that have larger networks than myr.
But those normal miners continue on with little to show for it. Read SilentBit's post.
Regarding LTC, their network is already so much larger that it wouldn't make much difference. Many profit pools have LTC as their low coin. LTC gets hit regularly, and has been for a while. For evidence, just go look at
http://wafflepool.com/statsThat's not the point though. The point is a combination of SilentBit's post that explains how normal miners get borked and the fact that profit switching pools are working towards including algo switching. This means that the normal miner will get borked across ALL altos in the future. It was/is interesting to watch on one algo, but across all that would absolutely destroy this coins primary "for all" theme as the normal mine and hold guys get shafted.
I feel I'm not getting through to you so I'll say it again: WHAT WOULD HAPPEN TO LITECOIN IF IT HAD
OUR SCRYPT HASHRATE AND GET HIT LIKE THAT ? WHAT WOULD HAPPEN TO ANY KNOWN COIN ? IT WOULD GO TO SHIT THAT WOULD HAPPEN, ON OUR COIN IT'S BARELY NOTICEABLE. THAT'S THE POINT.
EDIT: sorry for the caps, it's meant to take the point across not as shouting or something else.
foodies I hold great respect for you and neuromode but no one has addressed what i have said. The 10 block lookback is futile. Why? Simple...
he reason i was given by mr AHMED was the weighted algo keeps the coin more fair and so on...
-- this is incorrect as now it is less fair then ever.
... may have also said that this prevents the coins difficulty from going
impossibly high.FAIR ENOUGH
BUT
that happens anyway
after 10 blocks the diff jumps to the thousands regardless.
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now do you not agree SOMETHING must be done?-------------------------------------------------------------------------------------------
LET US DISCUSS POSSIBLE SOLUTIONS OR AT THE VERY LEAST THINGS THAT CAN BE DONE CODE AND OTHERWISE TO REDUCE THIS
SERIOUS PROBLEM before let me say this again
before it gets out of hand.
25% scrypt algo allocation is where i draw the line.
the ENTIRE chain forking because of 10 blocks mined instantly is where i say goodbye.
--------------------------------------
NOW on to business and brainstorm ideas ------=CODE PROPOSAL
- increase the block time to 5 minutes
- decrease the difficulty retargeting to a 3 block look back
the 2 above can MINIMIZE the damage being done currently until we can attain a higher scrypt hashrate.
------= COMMUNITY PROPOSAL
-we hold a massive community rally for every available miner who has an asic-scrypt or other at their disposal to hash our scrypt algo difficulty up in order to make our injured scrypt algo less apatizing to the hungry multi-pool monsters...
----------------------------
let me be very clear the scrypt multipools have just begun to take advantage of and abuse our scrypt algo.
Coders are not gods of wisdom and foresight... just because one that is held to high esteem is not concerned with this
DOES BY NO MEANS WHATSOEVER
mean that this is not a serious issue that must be addressed with the up most seriousness and severity.
if we can find a solution that is new and innovative this may turn out to be our defining moment.
if not we MUST minimize this issue as much as physically possible.
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i have tried to bring attention to this issue for so long... I urge you to take me seriously. Now that this has finally .. finally .. become a topic of serious discussion. I may or may not participate for a while as finally I have been heard. I will continue to hold on to every coin I own. remember this:
25% scrypt algo allocation is where i draw the line.
the ENTIRE chain forking because of 10 blocks mined instantly is where i say goodbye.
god damnit dont fuck this up...........
////////////
addition edit from reddit post
i own a smart car foodies.... the analogy is incorrect fyi.
why not a diff retargeting system that is per block. no lookback. and can either:
A- -- say hashrate is 1ghs and here comes fucking cex.io with 10ghs the diff retarget detects massive surge of hash and A 10 BLOCK LOOK FORWARD! will 1/10th at a time (1ghs per block) allow the increased hash to enter the algorythem with difficulty retargeting accordingly every block
B- --have difficulty per block no lookback and let the difficulty go IMPOSSIBLY HIGH... but wait... after 10 minutes of no block found the difficulty drops incrementally back to normal meanwhile the multipool has lost interest as it has only mined 1 block and moves on to another coin without a fair system in place
how about some more ideas like this or anything. you people are in crypto lets hear ideas and..
NEUROMODE PLEASE DOCUMENT THEM IN A LIST SO WE CAN VOTE LATER ON OR EXPAND ON IDEAS. I will reward you with a 50,000 MYR bounty if you can see this along effectively.
do what is needed to facilitate ideas and innovation document it and continue community discussion within an organized and detailed. that EVENTUALLY finds something really worth implementing which can be a multitude of community action and Code Reform.
only if your interested
i see no better way. if there is someone else who wants to participate in this bounty i have proposed go for it. but we may need a donation address once it takes shape in a manner with a high chance of actual code and other implementation I will, 10,000 at a time release the bounty. 8bitcoder may have to agree to this in advance as only he can make the change the community decides
