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Title: I've shunned Bytecoin Post by: pandemic on April 06, 2013, 12:21:24 PM I'm keeping far away from it for a few reasons. The biggest being it was released on april fools... APRIL FOOLS. Why?! If you want to create a legitimate currency, why not wait till any other day in the year where the goal is not to play a practical joke? Nobody is going to take it seriously.
Title: Re: I've shunned Bytecoin Post by: needbmw on April 06, 2013, 12:23:25 PM Nobody, really? ;D
Network hashrate: 1031.62 GH/s Title: Re: I've shunned Bytecoin Post by: Matthew N. Wright on April 06, 2013, 12:23:53 PM That's kind of a ridiculous reason to shun a currency. If you're going to shun it, shun it for the right reasons, like:
Pump and dump. That's a reason to shun it. Title: Re: I've shunned Bytecoin Post by: pandemic on April 06, 2013, 12:29:57 PM The april fools thing is just such an issue for me. Not to mention the others you mentioned. People are so upset that they weren't in on the first days of BTC that they're willing to toss processing power to the wind for little more reason than to make 50 coins of something at a time. I wish I was in in on the early days of BTC too but bytecoin isn't going to make it. LTC has far more potential and it's been around years longer. If someone's going to get into a cryptocurrency, it's going to be either BTC or LTC. I see those two being the biggest two for (hopefully) decades to come. I just think starting up a currency now without a goal in mind is useless.
Title: Re: I've shunned Bytecoin Post by: Matthew N. Wright on April 06, 2013, 12:33:02 PM The april fools thing is just such an issue for me. Not to mention the others you mentioned. People are so upset that they weren't in on the first days of BTC that they're willing to toss processing power to the wind for little more reason than to make 50 coins of something at a time. I wish I was in in on the early days of BTC too but bytecoin isn't going to make it. LTC has far more potential and it's been around years longer. If someone's going to get into a cryptocurrency, it's going to be either BTC or LTC. I see those two being the biggest two for (hopefully) decades to come. I just think starting up a currency now without a goal in mind is useless. I'm all for currency competition, I hope there are hundreds of variants made in the future so that we have even more options, but *duplicate copies* should be ignored completely as money grabs. Title: Re: I've shunned Bytecoin Post by: bushstar on April 06, 2013, 12:53:01 PM This coin should go no where. If it does get value then great as I mined a lot just for fun, but fool on those who gave it value for my dump.
Title: Re: I've shunned Bytecoin Post by: pandemic on April 06, 2013, 01:00:23 PM Did anyone even look at the code? I'm really hung up on this 4/1 thing or just paranoid I guess.
Title: Re: I've shunned Bytecoin Post by: Byte-Gox on April 06, 2013, 01:24:05 PM The april fools thing is just such an issue for me. Not to mention the others you mentioned. People are so upset that they weren't in on the first days of BTC that they're willing to toss processing power to the wind for little more reason than to make 50 coins of something at a time. I wish I was in in on the early days of BTC too but bytecoin isn't going to make it. LTC has far more potential and it's been around years longer. If someone's going to get into a cryptocurrency, it's going to be either BTC or LTC. I see those two being the biggest two for (hopefully) decades to come. I just think starting up a currency now without a goal in mind is useless. I'm all for currency competition, I hope there are hundreds of variants made in the future so that we have even more options, but *duplicate copies* should be ignored completely as money grabs. Hard to ignore the hash rate Network hashrate: 793.28 GH/s April fool ;) Title: Re: I've shunned Bytecoin Post by: meebs on April 06, 2013, 01:24:10 PM Nobody, really? ;D Network hashrate: 1031.62 GH/s in the days of ASICS that is not saying much. if it was that much in GPU/FPGA.. then its a legit number. Title: Re: I've shunned Bytecoin Post by: needbmw on April 06, 2013, 01:33:41 PM in the days of ASICS that is not saying much. Sure, but ASIC time worth ~2.8BTC/hour now for 1Th/s. I don't think somebody will spend over 9000$/day just for lulz.Title: Re: I've shunned Bytecoin Post by: Matthew N. Wright on April 06, 2013, 01:35:36 PM in the days of ASICS that is not saying much. Sure, but ASIC time worth ~2.8BTC/hour now for 1Th/s. I don't think somebody will spend over 9000$/day just for lulz.It wouldn't be for the lulz. It'd be for the pump and dump, to artificially stimulate interest and give it the perception of growing adoption (read: constant influx of sockpuppets here supporting it). To the person "spending" money pointing their ASIC to it, it's merely a different investment to them. Title: Re: I've shunned Bytecoin Post by: momagic on April 06, 2013, 01:37:30 PM That's kind of a ridiculous reason to shun a currency. If you're going to shun it, shun it for the right reasons, like:
Pump and dump. That's a reason to shun it. This. Same with PPC and TRC. Some people made loads off other peoples ignorance (mione included) Title: Re: I've shunned Bytecoin Post by: Anon136 on April 06, 2013, 01:39:52 PM Yes it was probably released as a troll, but that doesn't have any bearing on whether or not its a good idea.
yes there are lots of sock puppets, and yes they are probably trying to pump and dump, but its not as if they are doing a very good job and so what if some people are trying to pump and dump *if* its a good idea than it should stand on its own Sure if you asked me to bet one way or the other whether this currency would survive than i would say probably not. But that doesnt make it a bad buy. if you could get a lottery ticket at 90% discount you probably wouldn't win the lottery but technically it would probably be a good investment. And yes the fact that it is a carbon copy is its big weakness but its also a strength in other ways. 1) it has a strong development team, the bitcoin development team. 2)why fix what isnt broken 3)IF it does come to the point where we need 2 dozen blockchains, who wants to learn all about 2 dozen gimmicks that dont legitimately improve on bitcoin in anyway? i opt for the simplicity of a bitcoin2 unless someone is LEGITIMATELY going to innovate with an alt coin. ok im done Title: Re: I've shunned Bytecoin Post by: JordanL on April 06, 2013, 01:46:38 PM That's kind of a ridiculous reason to shun a currency. If you're going to shun it, shun it for the right reasons, like:
Pump and dump. That's a reason to shun it. I agree totally. Not too mention the copycat name, likely chosen to confused newbies/fools. Title: Re: I've shunned Bytecoin Post by: mr_random on April 06, 2013, 02:00:03 PM The april fools thing is just such an issue for me. Not to mention the others you mentioned. People are so upset that they weren't in on the first days of BTC that they're willing to toss processing power to the wind for little more reason than to make 50 coins of something at a time. I wish I was in in on the early days of BTC too but bytecoin isn't going to make it. LTC has far more potential and it's been around years longer. If someone's going to get into a cryptocurrency, it's going to be either BTC or LTC. I see those two being the biggest two for (hopefully) decades to come. I just think starting up a currency now without a goal in mind is useless. I'm all for currency competition, I hope there are hundreds of variants made in the future so that we have even more options, but *duplicate copies* should be ignored completely as money grabs. It's going to be another BBQ coin. People are blatantly just trying to print themselves money now. It will get to the point where there are so many alt currencies being launched that only the strongest will get any kind of attention. Title: Re: I've shunned Bytecoin Post by: shinkicker on April 06, 2013, 03:12:10 PM I shunned it as its a copy and paste coin and which will likley be followed now by 100 more thanks to all these fools setting up pools and gambling sites around it.
Title: Re: I've shunned Bytecoin Post by: Matthew N. Wright on April 06, 2013, 03:23:41 PM What if byte coin over took lite coin in hash rate? What are the exact differences between ByteCoin and Bitcoin? Litecoin has an obvious difference that people trust, hence it has lasted. Title: Re: I've shunned Bytecoin Post by: Come-from-Beyond on April 06, 2013, 03:32:42 PM What if byte coin over took lite coin in hash rate? Litecoin has an obvious difference that people trust, hence it has lasted. This difference is so little. I wouldn't pay much attention to it. Title: Re: I've shunned Bytecoin Post by: Anon136 on April 06, 2013, 04:05:03 PM What if byte coin over took lite coin in hash rate? What are the exact differences between ByteCoin and Bitcoin? Litecoin has an obvious difference that people trust, hence it has lasted. the addresses start with 8. Title: Re: I've shunned Bytecoin Post by: Matthew N. Wright on April 06, 2013, 04:06:28 PM What if byte coin over took lite coin in hash rate? What are the exact differences between ByteCoin and Bitcoin? Litecoin has an obvious difference that people trust, hence it has lasted. the addresses start with 8. Obviously it's 8 times better! Title: Re: I've shunned Bytecoin Post by: Wekkel on April 07, 2013, 06:54:56 AM The days of John Law are here again.
Title: Re: I've shunned Bytecoin Post by: saigo on April 07, 2013, 06:58:45 AM The days of John Law are here again. Heh, from wiki : He was responsible for the Mississippi Bubble and a chaotic economic collapse in France. Title: Re: I've shunned Bytecoin Post by: BitHits on April 07, 2013, 06:59:50 AM Isnt the limit on BTE 81 million as opposed to 21 million?
I could see BTE falling into place as a lesser value coin. I mean just 2 months ago BTC was $11 , I could see BTE filling the 0.25 to $5 range and BTC taking up the $250-$500 range, LTC taking the place of BTC Currently. Title: Re: I've shunned Bytecoin Post by: saigo on April 07, 2013, 07:13:34 AM Isnt the limit on BTE 81 million as opposed to 21 million? I could see BTE falling into place as a lesser value coin. I mean just 2 months ago BTC was $11 , I could see BTE filling the 0.25 to $5 range and BTC taking up the $250-$500 range, LTC taking the place of BTC Currently. I'm not sure it is different from 21mill, if it is it should up in the diff I did : https://bitcointalk.org/index.php?topic=169236.0 |