Bitcoin Forum

price follows the same curve:

http://i47.tinypic.com/25082ls.png

Let the pumping start.......................

Looks like it started about 3 days ago lmao

Difficulty is now at 9282 and it was at 300 last week :(

The only good new/bad is profitability has dropped below 100% BTC currently 82.82%

its funny going from mining 500 coins a day to 5 lol

Price has caught up to make profitability over 100 again. :-) 

I think someone is also take this as supporting the network of vircurex, that's why he pulls all the alt coins up in vircurex.
Anyway just guess, maybe it's just the side-effect. ;)

Maybe- the problem with the theory is that the exchanges are open, anyone can buy and sell. So you always risk someone gobbling up your asks or bids and profiting instead of you. The value has more then trippled, so anyone who got involved at the start stands to profit 3x. Is this manipulation, or just the natural start of a new market?

This is also why it would help to have TRC on the largest alt exchange- BTC-e. With so many eyes on the rate it would be hard to manipulate it. There are so many bots on the site any moment you tried to unfairly manipulate the market they would see the advantage and take it from you.

TRC is easier to mine then LTC- what do I mean? Mining SHA-256 on GPU's takes less power and generates less heat.  Even though LTC is by far more profitable at the moment, there are obviously those GPU miners who see the potential in TRC. For example all the Bitcoin FPGA's that CAN NOT mine LTC, and will be USELESS to mine BTC can instead mine TRC efficiently. So many are probably figuring the opportunity lost from Mining BTC right now might be small compared the future profit of TRC.

Don't forget the example of RAIDO on BTC-E. He bought 5K USD worth of LTC at the very start- a MILLION LTC and later sold for $40,000USD. Of course we wished he waited until now to sell, but the reality is that the early big "hoarders" need to divest themselves of coins to get coins in the hands of as many other people as possible so that the economy gets WIDE before it gets deep. Speculation is a game of course- but it's critical to the development of any economy.

considering a coin is worth 0.003BTC.. you made some serious BTC (assuming you ever sell) in those prior days though!

True, and something that is unique for TRC (different from other chains!) is the really fast retargeting of the Difficulty. If this were LTC, and the difficulty jumped from 300 to 9000, and the big miners suddenly left when the profitability went down because of the diff increase, you would spend the next few days having to mine at 9000 (and making no coins). TRC will retarget in a few minutes so you smaller miners can go back to making coins and not suffer for someone elses massive hashrate.

In this case, because when the diff goes up, the profitability goes down, that means big miners interested in a quick cheap sell for BTC will have an incentive to move off the chain quickly (profitability drops) and then difficulties drops too, and profitability goes back up. So it makes a nice cycle. Will be interesting to see charts in the future that analysis this effect.

I am biting my hands that I did not jump in from day one (just like I did with BTC).
Well, better late than never, as latecomers say.

exchange rate graph update, for the curious out here :)

http://i50.tinypic.com/33zeixe.jpg

omg

We are quite pleased we got into TRC early  ;D http://satoshiroulette.com/?mode=TRC

our casino is backed by ~8'000 TRC which we scooped up for a mere 2 btc  ;D quite the profit if we did decide to cash out but we never do.
When we add an altcoin we are in it for the long run.

ASIC invasion?

more likely fpga's and gpu farms being retargeted.

why? how can you tell?

It looks like 200GH came from one source, up and down. Only ASICs can do that.

The question is, how difficult it is to retarget a ASIC miner from BTC to TRC?

it's as easy as editing pool config in your miner config file and restarting.

Then it means the entire TRC network is at the mercy of a few ASIC owners, hoping they'll play nice. Correct? 

No, it means there are great opportunities for ASIC owners in securing the TRC network.  This is a price signal for more people to jump in, and more people jumping in will be the result.

Interesting. Too bad BTC or LTC doesn't offer such a opportunity to ASIC owners  ;)

Anyway, I'd keep my fingers crossed.

Even that you're joking, the actual ASIC can't really mine on LTC.

That's what I meant .

I hope you don't start spamming the network with tons of nano-txs so that we end in a SHTF like you just did with BTC.

Satoshi Dice and Satoshi Roulette are not the same people. That said, its only recently that Satoshi Dice has been seen as causing a problem. Up till now everyone has been glaf that Satoshi Dice was increasing network transactions and bringing people into BTC. I hope Satoshi Roulette can do the same for TRC!

LOL!! Great way to put on a spin on how FRAGILE the TRC network is currently. Anyone who buys TRC or invests time mining them is basically playing RUSSIAN ROULETTE. Only takes one ASIC guy who is bored and having a bad day for the network to be DESTROYED.

Even if that doesn't happen, you can bet the ASIC miners will get mega amounts of coins that will be dumped onto the market as soon they're worth anything.

Go for TRC it's a great investment!

I'm going to make the assumption that you have no idea what it takes to actually 51% a network. That said-
https://i.imgur.com/IPJHckT.gif

Post that picture to all the people who follow your encouragement and lose their money

So far, I've been gaining money. :)

Then why BTC are not dead 12 times already?

Who is talking about losing money? I mined my coins on my 3 GPUS long since paid for by the russian roulette cheat scam litecoin that did nothing but bring me happine$$.

If you are in crypto, you have automatically agreed to the possibility of loseing money. We hope to gain money, but thats the deal you implicitly make when you get involved in crypto at this point in the game. It's roulette. Sometimes you win, sometimes you lose. You're not standing outside a casino complaining to patrons are you? Let us have our fun.

That's the thing with the open market, where there is no reason for a miner to divert hashing from profit making BTC to 300 diff, almost valueless TRC other than to have fun, and even there, since the diff cycles are much smaller the effect would not last (unlike what happened to NMC in the past). It would mean that they could 51% the network but since there is so little tx bandwidth they would profit pretty much nothing.

Now the situation changes and TRC become valuable enough to justify an attack (not yet really, but still)... guess what? Diff is no longer 300 and more people jump on board making the network more secure and harder to corrupt as a side effect.

So while there are windows of opportunity for an attack, they close really fast!

Someone is trying to monopoly the Terracoin supply. The price also reflex this purpose.
I think only someone with ASIC could beat this. This means that Terracoin will be die or continue rise.

Looks like it's over.

http://pool.bitcoinreactor.com/images/stats/pool_trc_hashrate2.png

According to Vircurex, network hashrate down to 175MH and falling.

where can I find realtime chart like this ?

That one is from pool.bitcoinreactor.org, he's turned off his pool though recently so not sure if/how long it will remain up.

Top right hand corner of coinotron.com shows the pool there is at 305.8 GH

#   Name   MH/s   TRC/day
1   nica    32126.4    1504.22
2   cocoloco    26857.9    1257.54
3   maxi75    22448.4    1051.08
4   bosin    16721.7    782.94
5   ls121    14202.0    664.97
6   wwwish    13973.0    654.24
7   mosovac    9334.4    437.05
8   superfastkyle    8389.5    392.81
9   Ocakypa    5755.3    269.47
10   ca2008hy    5612.1    262.77
11   dizzy1    5411.7    253.38
12   nenadubica    5154.0    241.32
13   sinuo123    4781.7    223.89
14   tristanphuc    4409.5    206.46
15   radanilo17    4380.9    205.12
16   miljan    4237.7    198.42
17   nick5832    4094.5    191.71
18   wmikrut    4065.9    190.37
19   544020468net    3607.8    168.92
20   quanghai88    3350.1    156.86

Many thanks to ALL these users for helping secure the TRC network :)