utcminer please dont think i directed anything at you regarding choosing a side, I apologise if you felt that. I was speaking in response to bumface saying choose carefully.

Micheal thankyou for keeping us informed. Guy we need to look forward to the exposure the las vegas event will bring. Personally These last few pages need deleting as if it is true and lawyers are involved this will not help. We have a great multipool now setup to try and bring some stability to the buying power on the exchanges. We have the Las vegas event for some awesome exposure. That needs to be posted everywhere. All this fighting both previous and current should always be behind closed doors. Think of UTC as a child you wouldnt want to see mum and dad arguing its always when the kids are in bed. Maybe take a step back from UTC as it is my firm belief this cold halter UTC, I have faith in the coin in the way it operates otherwise we would not have invested money into setting up a multipool. You have alot of money invested in UTC and its time to start thinking of this as a business with the bag holders the miners the users as customers and use some tact, common sense and true leadership BTW i am not choosing a side their is no side to choose, this just seems like playground BS to me.

Keep up the good work Thanks Craig.


WWW.ULTRAMINERS.COM

i have been asked to speak at a convention in las vegas, and we are now discussing the benefit.


It is a miners convention and the name is www.HashersUnited.com

but again the finances come into play since this trip would cost a few thousand dollars.

They have asked me to give a solo presentation on Ultracoin ,N factor and asic resistance and how this fits in the coin landscape.

 i am not familiar with giving solo presentations , I think i would get quite nervous, however the benefits are great ,just like last time in sweden its a great opportunity to meet new people and spread awareness.


this would cost at least 3000 dollars with a plane ticket and hotels so this is very tricky, i dont have a single asic yet, and alpha just moved the shipping from juli to september.


This event is on October 10th &11th , 2014 so there is no way i can mine 3000 dollars by then.

This is the message i get on skype from Hayden.
I have to do it with that message,  and so are you at this moment, becouse it is all Hayden communicate at this moment to us.

What to do now ? If you have miners at the multipool put them a.s.a.p. to one of the dev pools or at nitro2.

if i could i would bring better news dear utcminer but at this moment i can not. This is out of the power of our team.

To all about the Multipool.

We just get today an message of the administrator of the multipool, Hayden,
from his message we can read he is not able to manage the multipool for longtime.

Please read the message below from Hayden ;

"....Hi All, Sorry about the delayed contact. The Army has just called me and I am now on an Aeroplane and will not be returning home for a few months. Sorry about this, it was unplanned. I will not be able to administer the multipool at all anymore. If you leave a message here I will try to get back to it when I get time but time in the army just doesnt exist...."


This means that i advice everybody to stop directly mining at the multipool and start mining at our UTC POOLS or even at NITRO2.

Remember in this how important it is to spread the hash among the pools !!!!

If we have more info we let you now a.s.a.p. !

Scrypt-Jane was a specific implementation of Scrypt-Chacha with pre-programmed N-Factor changes, and fundamentally my problem is that they were poorly chosen. Now we're at the point where things are slowing down, but it's also "too difficult" to get miners up and running, so only those that got in early are still worried about mining UTC. Really, can you imagine anyone new to the cryptocurrency scene saying, "Oh, look at UTC -- I wonder how I can get set up to mine at NF-13?" They can do Scrypt, X11, X13, etc. and mine any of a couple hundred coins, whereas Scrypt-Jane requires tweaking parameters for just one coin (or at least on N-Factor). It's a major pain in the butt! Scrypt-N is practically the same algorithm but with NF changes more widely spaced; in January the first Scrypt-N coin will move to NF-11, and most of the difficulties with that N-Factor are now known; the next change will be in another year or more, so SJ gets to pave the way with little reward for doing so.

The ironic thing is that all of this was done to "protect us from the evil ASICs", and yet I'm not even convinced ASICs are the real enemy here. This has become a big business, and that means the small fries (you, me, and anyone else that can't invest millions of dollars) are probably just lucky to have gotten in early enough to have made some good earnings. I don't think we'll actually see a fully functional Scrypt-N ASIC in a time frame that will be profitable for the buyers, but the manufacturers of the ASIC will still make money -- or just scam people and disappear with the coins they're paid. But how do you stop that from happening? Government oversight, laws, regulations, etc. are all things that BTC was trying to avoid early on, yet now we're trending more and more towards having all of them. Oops.

As far as PoS goes, it was basically designed as a way to reduce power requirements while keeping the network secure from a 51% attack, and it does well in that regard. The problem is that it doesn't encourage use of a coin, and there are all sorts of weird things that go on with PoS coins like scaling of the interest rates, or poor coding (cloning of a poorly coded implementation), etc. The rewards are also terribly stingy on many coins (Blackcoin), so if the idea is to have people leave the wallet running 24/7 to support the network, there needs to be a real incentive to do so. This fad that started with BC where it's somehow better to distribute all of the coins in a one week period and then shift to PoS strikes me as a huge money grab as well. At least UTC would have been around for a long time before making the switch, but of course it's going to require a hard fork again and people will get upset about fundamental changes to the design of UTC.

Really, in retrospect (yes, I know: hindsight is always 20/20), UTC was not designed properly. I can say the same of many coins, including BTC and LTC, but what's done is done. Block reward halving is convenient in terms of knowing the block reward for long periods of time, and it doesn't necessarily reward the first miners with the most coins, but slowly scaling down (e.g. sort of like DRK, though it could still be improved) seems better. Fast NF adjustments -- ever -- is just chaotic. As someone that mined a bunch of the SJ coins when they were new, almost every NF change would cause issues on every mining PC I have. The power efficiency issue is also real -- I have given up on Scrypt-N and anything else above NF-10 for that reason, and of course vanilla Scrypt is now in the domain of the Scrypt ASICs. And as for the block times... they're just too short, as I noted already.

So given all of the above, what's the "ideal" new coin? First and foremost, it has to bring something new. If you clone an existing coin and just tweak the parameters a bit and create a new image and name, you've created a coin that's basically just a money grab from the developers (and to an extent the whole cryptocurrency community). You need at least some sort of major new feature. For example, stuff like a built-in exchange system in the wallet would be useful, or at least a way to check the current prices; Stealth Transaction type features are also useful. Most other "additions" are just fooling around trying to pretend to be different. I don't think in-wallet games are useful, as that's just a time sink and people have lives they need to live (e.g. you can't have five different wallets with games running and expect a person to play/mine/whatever all of them at the same time).

If UTC is going to hard fork to PoS, they ought to look at some other fundamental changes. The coin went from what -- 6 seconds to 20 seconds to 30 seconds for the block times? 30 seconds might be okay now, but one minute still seems more reasonable to me, especially given PoS will be more consistent. Now add in something like Stealth Transactions (similar to the new VTC), and a built-in ABE-style block explorer, and the ability to do a VeriSend type of transaction (send BTC via UTC) and we're looking at something useful. At that point, if you can make all of those additions, is it better to fork from UTC or would it be best to just make a new coin? Or does the market really just want some of these features for an existing coin that is already well regarded (BTC, LTC, etc.)?

The coming alt-coin apocalypse is going to be messy, and I'd guess that less than 10% of alt-coins will really be doing anything worthwhile in another year -- and maybe even 5%. It's like a business that expands too rapidly and suddenly has 3000 retail locations, and then they realize they're not getting enough customers at each location and so a few years later they file for bankruptcy and close most of the stores. Cryptocurrencies have done basically that right now, and while not all of the coins were created in such a way as to be deemed "junk copies", there will be some "good" coins that die along with the "bad".

Price going down as we haven't been on coinmarketcap for 2 days. Why haven't you sorted this, surly you look on there 2-3 times a day to see what's going on in crypto land.

As one of the biggest 'bag holders' I have to say this isn't the coin I invested over $25k  into and I'm against making it full POS. I thought this was a long term coin focused on development and not too concerned about its price as the price will go up naturally as it became more accepted in marketplaces. I'm also against this decision been made to completely make it a different coin without consultation with the community.

I have to question the mine craft idea also. If you are so confident it will attract lots of interest why not wait until the mine craft idea is complete and availble.
I'm not getting into an argument and don't really want people to reply. I just wanted to have my say as I read this thread 2 times a day and haven't spoken up about my views

dont go full PoS, its a very bad idea for UTC and kill this coin.  Keep it mixed PoW/PoS, but reduce the min age for PoS, would be much better improvement.
Full PoS is already falling out of favor as a buzzword to pump on,  if devs care about the coin it deserves better then the cheap pump price treatment of a widely misunderstood feature like Full PoS.

If not planned and properly set up in advance by users and dev team, UTC will go from being a fast coin to move funds with with to a really slow coin when there are no users with UTC in wallets to mine PoS blocks for you, and as alot are concerned about price it can be assumed most them are keeping their UTC on exchanges and not in wallets so they are not supporting the coin at all.  

Exchanges can not be depended on to support the blockchain as they will sweep their coins to one address/not keep them in deposit addresses long enough for any PoS to occur.  
Majority of users are interested in PoS for the interest and tend to make large single stakes in the wallet, so they can not be depended on to support blockchain.  There needs to be dedicated PoS miners/nodes created well in advance.

Without dedicated PoS miners/nodes, transaction times will be very slow, hours or even days without PoW. this affects multipool as well, as it will be dependent on PoS to carry its payouts to the multipool miners.  

Does dev team really believe there are enough people keeping UTC in wallets to support transactions or maintain a fast network?  The only people wanting full PoS it seems are those who do not understand what is it and/or are only care about price.  Stable price is better then pump and dumps for a coin that is promoted for arbitrage and fast transfers of value.

The price will not go up just because a coin becomes 100% PoS, but it will quite likely crash when people find their transactions are stuck or is no longer as fast as they are use to.  

Oh wow! It is working, I am averaging about 3.9Mh/s per card right now with my 280x's! It's slowly creeping up to 4Mh/s and may even go a little further. Not bad! I mirrored the link to your .7z so you won't have to download it with that file manager anymore: http://www.mediafire.com/download/v99de0jbr8984x4/SGMiner_14.6_mod.7z

Oh wow! It is working, I am averaging about 3.9Mh/s per card right now with my 280x's! It's slowly creeping up to 4Mh/s and may even go a little further. Not bad! I mirrored the link to your .7z so you won't have to download it with that file manager anymore: http://www.mediafire.com/download/v99de0jbr8984x4/SGMiner_14.6_mod.7z

Whats happening with UTC?, Ive been holding since march, starting to wonder if i should be buying more or not, they are cheap as hell, but if there is no new projects or good news, i fear we may go the way of the dinosaur.
 

This I understand, but there is still written that wallet must be open 24/7 and it must be encrypted. Why encrypt?
Is it enough to simply enable stake minting and keep it always open?
Remember; for Stake Minting at V1.0.4.0 you will have to keep your wallet open for 24/7 and Enable Stake Minting with your password !

bumface, or someone else who understands.
Please write about the points (1,2,3 ...) that needs to be done that would enable extraction POS coins.
The fact that my automatic translator translates badly (what - I did not use) and I do not quite understand how to make the POS of texts written above.
Advance all grateful.