GPU mining was done by developers to control the difficulty. They calculated that new difficulty would be too low, so they mine as to make difficulty just half. But the problem is they do not communicate it. AND if they accept that, it means they also have to admit that they have GPU miner which they don't want to release for their selfish reasons. It is clearly undemocratic.
I don't think that the reason was that the difficult was going to be too low (it will readjusted very quickly
if we mine to many blocks) , the problem was that we were generating one block every two hours, meaning that a transaction will take 12 hours to go through and at that speed, the difficulty wasn't going to readjusted until October.
Imagine the disaster if they launch minexbank in those conditions.
Cheers
MC
That is the point. They are too greedy.
:-) Really??
The difficulty gets readjusted every 920 block. In target conditions (one every 2 minutes 45 seconds) it takes about 2 days to be readjusted.
If the difficulty is too low those blocks can go by in a few hours, no damage was done, and after that time everything goes back to normal.
But the case was that the difficulty was set for a hash power of around 900 hps and we had 41hps.
Between all of us, we were mining one block every TWO hours and you need 6 blocks for a transaction to go through (12 hours). Imagine a coin that is 12 times slower than Bitcoin :-( What is the point?.
If they didn't improve that situation, minexcoin was DOA and the developers have LOTS of coins from the initial generation that will be worthless if the project fails (and remember they already have the ICO money, they could just leave it alone and keep the money ;-) )
If think they did all the ICO investors a HUGE favor spinning up all those VMs for normalize the block creation rate.
Cheers
MC