[ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink

[GWCalvert]

So now we can vote for (at least) 4 5 exchanges:

Cryptsy - https://www.cryptsy.com/coinvotes
MintPal - https://www.mintpal.com/voting
Comkort - https://comkort.com/vote
Swaphole - https://www.swaphole.com/#!voting
ShareXcoin - https://asktom.cf/index.php?topic=598531.0

Vote, vote, vote, vote... and vote again!

There are a lot more people taking notice of 888. I've stumbled across conversations in the trollbox at Polo and other exchanges. There seems to be several early miners who are holding their coins... awaiting for further development and bigger exchanges. Most have positive things to say about OctoCoin's future.

On another note... Would anyone be interested in some OctoCoin Accepted Here/Donate OctoCoin buttons/banners or maybe an animated promo video? I could put something together this afternoon if there is interest. The banners/buttons would be easy as I have been experimenting with creating some for some of the sites that I own.


Even though I don't mine... the static 188 block reward seems to me the best option. Just my 2 cents worth...

[wartywarlock]

I say screw the hoppers and take the option that rewards your loyal miners  if this upsets someone, they probably only care for profit and not the coin itself.

[peterw]

If it goes to 188 for every block, does that increase the total coins for octocoin? Or does it keep the total coins the same and shorten the length of the bonus block phase? Or something else?

Edit: or was 188 the expected average now? If so, maybe changing to that means no change in the total coins for octo?

Essentially the latter I believe, mathematically the average block reward for this phase should be 188 so the total coin distribution would remain the same.  It would just be a more equitable distribution for the remainder of this phase than it has been recently and would only hurt pools/farms who are throwing hash at the network whenever a bonus block is due.

OK cool, that makes sense to me now. Seems like a good way to go for the rest of the bonus phase.

[OctoCoin]

The consensus thus far seems to be 188 coins/block - we'll continue to process feedback for another 12 hours or so and then lock in the final decision in the morning. There is a division within the OctoCoin team on the topic which is why we are looking to you guys to help us make the call. Since we will need to hard fork things anyway, we will also make some tweaks to the difficulty adjustment formula. While I believe the current formula has served us well and tweaking it wasn't worthy of a fork on its own, we might as well make the adjustments we want while we have the opportunity. There have been a lot of requests for implementation of KGW but, based on our calculations and testnet runs, we have determined there are better options for a more consistent network.

We will try to get the updated client out tomorrow; keep in mind, however, that the fork will not actually occur until block 68,888. Also, just to clarify, this will have no effect on the total number of coins or how soon we get there. We have received more than one enquiry on the topic and wanted to ensure this point is clear. The only change to the distribution is that the remainder of the bonus blocks period will be modified to a static 188 coins/block with no bonus blocks - this averages out to be the same number of coins and is just a slightly different method of distribution. Every consistent miner will be rewarded by this change and the only miners that will be negatively affected are the coin-jumpers that are exploiting the bonus blocks. We apologize for not noticing and addressing this "exploit" sooner but, as they say, better late than never. We can take solace in the fact that the majority of miners exploiting the 888 bonus blocks are likely dumping their coins as the blocks mature meaning they are selling well below even the short-term value projections.

[GWCalvert]

Here are a couple of examples in full size (800 px)




I have them made in 800px, 468px, 240px and 180px widths. See them all at http://garycalvert.com/octo You can save them individually or there is a zip file download link with all the images.

Enjoy!

[OctoCoin]

FYI, we have asked Cryptsy to refrain from taking BTC donations for OctoCoin votes temporarily (you may have noticed we're one of the few coins without a BTC donation address). Feel free to vote and/or use Cryptsy points to improve exposure but we want to ensure all ducks are in a row before we get listed - the upcoming client and subsequent hard fork are the primary remaining hurdles.

[BitCoinDream]

How many OctoCoin I can have against 0.1 BTC ?

[edric]

Good deal, thanks for testing it out Jaggedminer!

And the new update sounds nice! I hope the nasty payout issues have been resolved, since this is going to be a mandatory update XD

Thanks for doing this, though, because the whole superblock/multipool issue is pretty discouraging. Hopefully this will thwart it.

[frameLAlife]

Here are a couple of examples in full size (800 px)




I have them made in 800px, 468px, 240px and 180px widths. See them all at http://garycalvert.com/octo You can save them individually or there is a zip file download link with all the images.

Enjoy!

awesome!

[frameLAlife]

my vote is for the 188 block reward..... stay steady.

great jobs devs... when things really need to be addressed you guys are always on the ball.

[shellbunner]

my vote is for the 188 block reward..... stay steady.

great jobs devs... when things really need to be addressed you guys are always on the ball.

+888

[frameLAlife]

I've kinda sorta been keeping my eye on it as well, but it's definitely reassuring to know that people have been comparing earnings vs FH and that my pool is on the right track. I really haven't been able to do the research here, but what MEGAman was saying makes some sense. I've thought some on actually putting some elbow grease in and setting up a multipool of my own, but I've kinda abandoned that idea, multipools just seem to rub everyone the wrong way, too much work, lots of risk, etc. But, nonetheless, I'm glad there's nothing wrong with the pool. When the bonus blocks are gone, maybe there won't be so much to worry about.

Anyway, I'd like to announce that, tentatively, within 2 days time, I'm going to have another game up and running for 888. If I have the time to make the final touches I'll try to have it ready by tomorrow. I'm going to keep the premise of the game a surprise until it's ready, but I will say that it has an invest system, so that has potential to make people some extra coin, if it becomes popular. I'll want to test everything out pretty thoroughly before I'd encourage heavy investing and betting but so far I'm pretty confident it's going to be good!

I haven't decided if I'm going to keep the grid game running or not, that depends on if people want to play

I was hoping to get more work done this weekend but I've been feeling pretty awful the past couple of days. It seems like since we've moved that I just cannot get anything done, like being in this house is somehow counterproductive. I did get the pool's software up to date early this morning, lots of improvements to MPOS, haven't done much of a test drive yet. Please PM me if anything funny happens. See you guys soon

PS. kskwerl, you're welcome to bring some of your asics to Fedaykin's Pool, spread the love :b

Edric, actually, over the two 24 hour tests I conducted your pool came out on top.  However, I do think the difficulty was generally higher over the 24 hour period I was at Fusion Hash's pool.  On balance and notwithstanding the bonus block issue which will be addressed soon, all is well.

FusionHash... 2nd time of asking in here; PLEASE respond to my emails.  I am still missing 3000 Octo after waiting over 2 weeks.

+888

[frameLAlife]

by the way, can anyone actually list the +/- of each decision?

most users hear the word hard fork and freak.

what's the advantage of the +188 blocks over a fork that just gets rid of the bonus blocks?

[joshycoin]

The consensus thus far seems to be 188 coins/block - we'll continue to process feedback for another 12 hours or so and then lock in the final decision in the morning. There is a division within the OctoCoin team on the topic which is why we are looking to you guys to help us make the call. Since we will need to hard fork things anyway, we will also make some tweaks to the difficulty adjustment formula. While I believe the current formula has served us well and tweaking it wasn't worthy of a fork on its own, we might as well make the adjustments we want while we have the opportunity. There have been a lot of requests for implementation of KGW but, based on our calculations and testnet runs, we have determined there are better options for a more consistent network.

We will try to get the updated client out tomorrow; keep in mind, however, that the fork will not actually occur until block 68,888. Also, just to clarify, this will have no effect on the total number of coins or how soon we get there. We have received more than one enquiry on the topic and wanted to ensure this point is clear. The only change to the distribution is that the remainder of the bonus blocks period will be modified to a static 188 coins/block with no bonus blocks - this averages out to be the same number of coins and is just a slightly different method of distribution. Every consistent miner will be rewarded by this change and the only miners that will be negatively affected are the coin-jumpers that are exploiting the bonus blocks. We apologize for not noticing and addressing this "exploit" sooner but, as they say, better late than never. We can take solace in the fact that the majority of miners exploiting the 888 bonus blocks are likely dumping their coins as the blocks mature meaning they are selling well below even the short-term value projections.

188 coins/block... I have been mining Octo since launch and while I do not totally understand the situation I do know that hard forks can cause a loss of coins. I love this coin and this community, I certainly would hate to lose any that I have spent time and power mining. Thanks.

[OctoCoin]

The consensus thus far seems to be 188 coins/block - we'll continue to process feedback for another 12 hours or so and then lock in the final decision in the morning. There is a division within the OctoCoin team on the topic which is why we are looking to you guys to help us make the call. Since we will need to hard fork things anyway, we will also make some tweaks to the difficulty adjustment formula. While I believe the current formula has served us well and tweaking it wasn't worthy of a fork on its own, we might as well make the adjustments we want while we have the opportunity. There have been a lot of requests for implementation of KGW but, based on our calculations and testnet runs, we have determined there are better options for a more consistent network.

We will try to get the updated client out tomorrow; keep in mind, however, that the fork will not actually occur until block 68,888. Also, just to clarify, this will have no effect on the total number of coins or how soon we get there. We have received more than one enquiry on the topic and wanted to ensure this point is clear. The only change to the distribution is that the remainder of the bonus blocks period will be modified to a static 188 coins/block with no bonus blocks - this averages out to be the same number of coins and is just a slightly different method of distribution. Every consistent miner will be rewarded by this change and the only miners that will be negatively affected are the coin-jumpers that are exploiting the bonus blocks. We apologize for not noticing and addressing this "exploit" sooner but, as they say, better late than never. We can take solace in the fact that the majority of miners exploiting the 888 bonus blocks are likely dumping their coins as the blocks mature meaning they are selling well below even the short-term value projections.

188 coins/block... I have been mining Octo since launch and while I do not totally understand the situation I do know that hard forks can cause a loss of coins. I love this coin and this community, I certainly would hate to lose any that I have spent time and power mining. Thanks.

There will be no loss of coins - as long as you have the new client running before block 68,888 (as well as the pool you're mining on if you're mining in a pool) the transition should be quite smooth. There is zero chance of losing any coins you've already mined pre-fork even if you didn't have the new client running in time as the fork will not occur until that point. I know the term "hard fork" sounds scary and we have all experienced a fork-fiasco and/or heard horror stories but we are well-prepared for this one. We have performed extensive testing and we are in full control of all of the nodes - we are confident this will be a breeze.

[OctoCoin]

what's the advantage of the +188 blocks over a fork that just gets rid of the bonus blocks?

During the "bonus block period" we are in the midst of right now, the average block reward is 188 coins/block. This average is calculated from 7/8 blocks containing 88 coins and 1/8 blocks containing 888 coins (the bonus block). If we completely dropped the bonus blocks without any other changes, it would change all of the specifications for the coin. Total number of coins would drop and this bonus period would come to an abrupt end. We chose the specs we did for specific reasons and, as a result, the only proper way to remove the bonus blocks from the equation is to increase the standard block reward to 188 coins/block and remove the random bonus blocks completely for the remainder of this phase. Then, in about a month, the reward will drop to 88 coins/block as scheduled. This will result in the same number of coins and the same speed of distribution while simultaneously eliminating the opportunity for exploiting the bonus blocks. As everyone seemed to agree on the 188 coins/block solution, one of our developers has already begun moving forward on the new client+fork.

[ozie]

Transaction issue at FusionHash.com 888 pool resolved. Coins arrived in desktop wallet. Took a few hours, but it is taken care of.

Yes, mine seem to be finding their way through now.  I just had a response from FusionHash support, which I have to say went above and beyond expectations, cheers guys.

It may only be small at the moment, but I really like this community and I'll continue to support both FusionHash and Edric's pool with my hashes.

One day we will ALL reap the benefits of 888, for now it's the best kept secret in crypto! 

Still waiting on one transaction for 3,098.65529839 and silence from FusionHash despite repeated requests now.  Support for and patience with them on a rapid decline here.

Seems this would be a good time to reactivate the P2Pool that was once running very well with this coin.
Currently there are 2 US based nodes and one in EU.

http://octoscanner.qemulab.com/

If you want to set up your own node please use this repo:

https://github.com/TheoRettisch/p2pool-octocoin

Seems there is finally some movement with this coin after the Devs are awake from their winter sleep 

[frameLAlife]

Transaction issue at FusionHash.com 888 pool resolved. Coins arrived in desktop wallet. Took a few hours, but it is taken care of.

Yes, mine seem to be finding their way through now.  I just had a response from FusionHash support, which I have to say went above and beyond expectations, cheers guys.

It may only be small at the moment, but I really like this community and I'll continue to support both FusionHash and Edric's pool with my hashes.

One day we will ALL reap the benefits of 888, for now it's the best kept secret in crypto! 

Still waiting on one transaction for 3,098.65529839 and silence from FusionHash despite repeated requests now.  Support for and patience with them on a rapid decline here.

I wonder what the deal is.... last time they posted here they said they'd have someone watching this board more often for instances such as this.

[frameLAlife]

what's the advantage of the +188 blocks over a fork that just gets rid of the bonus blocks?

During the "bonus block period" we are in the midst of right now, the average block reward is 188 coins/block. This average is calculated from 7/8 blocks containing 88 coins and 1/8 blocks containing 888 coins (the bonus block). If we completely dropped the bonus blocks without any other changes, it would change all of the specifications for the coin. Total number of coins would drop and this bonus period would come to an abrupt end. We chose the specs we did for specific reasons and, as a result, the only proper way to remove the bonus blocks from the equation is to increase the standard block reward to 188 coins/block and remove the random bonus blocks completely for the remainder of this phase. Then, in about a month, the reward will drop to 88 coins/block as scheduled. This will result in the same number of coins and the same speed of distribution while simultaneously eliminating the opportunity for exploiting the bonus blocks. As everyone seemed to agree on the 188 coins/block solution, one of our developers has already begun moving forward on the new client+fork.

thanks for the explanations

[shellbunner]

Transaction issue at FusionHash.com 888 pool resolved. Coins arrived in desktop wallet. Took a few hours, but it is taken care of.

Yes, mine seem to be finding their way through now.  I just had a response from FusionHash support, which I have to say went above and beyond expectations, cheers guys.

It may only be small at the moment, but I really like this community and I'll continue to support both FusionHash and Edric's pool with my hashes.

One day we will ALL reap the benefits of 888, for now it's the best kept secret in crypto! 

Still waiting on one transaction for 3,098.65529839 and silence from FusionHash despite repeated requests now.  Support for and patience with them on a rapid decline here.

I'm sure you have already, but try emailing them at [email protected]
I tried the contact form on the pool's site for weeks, and it never went through.
They've responded to my emails, so I'm sure they will respond to you.