Bitcoin Forum

Ixcoin the ancient first altcoin copy of bitcoin is nearing its death.

All coins mined out.

Hash has massively dropped as there is no reward to continue mining.

Blockchain is massively stalled

Miners are refusing to update.

This is the canary in the coal mine for Bitcoins future.

1st Problem is Cex.io quit mining , leaving the Difficulty Sky High and none of the rest of the remaining miners will match the hash rate.
2nd Problem client resets difficulty every 144 blocks , Dufus Mistake on the Programmers part.
3rd Problem Waited too Long to Fix and Investors have given up.

In the End ,
Yes this will be the Fate of all PoW coins as they are no longer Valuable enough to Justify the Mining Expenses.  :P

* Moral of the Story , Reset Difficulty after every Block *



 8)

FYI:
IXC is not inferior to BTC , it just Aged Faster, Same Result for BTC in a few years.

IXC is actually superior at the moment since it's a fully matured version of Bitcoin. 

~CfA~

They don't correlate, Ixcoins greatest strength was being merge mined with bitcoin it is also it's greatest weakness.

What I posted a couple of years ago:

 Re: Ixcoin TODO
October 24, 2014, 05:53:20 PM
   
Reply with quote Edit message Delete message  #4325
Will be interesting to see if the pools that are merge mining IXC bother to keep doing it with no reward.  There is also the risk that if one with a large amount of hash decided to stop it suddenly then you end up with very slow blocks because I think the adjustment is 2016 blocks like bitcoin.

And what is Bitcoin's greatest strength if not its security?  Take that away and the network effect means nothing.  IXcoin is Bitcoin'a twin and it does correlate.  Behold, the future of Bitcoin!

~CfA~

so you are the developer behind the coin. But i am hearing about this coin for the first time ,may be because i am a late entrant in the bitcoin and alt coin atmosphere ,what special security does bitcoin has ?

this doesnt have anywhere near the distribution of bitcoin. Very poor analgy

Correct, we cant really compare that Ixcoin even if its an ancient coin and theres nothing to be compared into bitcoin. Distribution in both coins are really too far away to consider. I should see it as a shit coin for me and it will surely die since all coins have been mined and miners are already refusing so it means its good as dead.

I can't watch this nonsense anymore. 

IXC has been around for over 5 years.  Merge mined most of that time by the biggest pools.  Well under 2 cents nearly the entire time on multiple exchanges. 

And most of all - people like me have been shouting from the rooftops nearly the entire time:  BUY BUY BUY!!!

Not Bitcoin nor any other coin has ever offered people such an opportunity at fair and equal distribution for all. 

Besides that incredible fact, IXC is one of the best, most fairly distributed coins EVER!!!

Bitcoin might be better distributed [for now] but Bitcoin never EVER offered the massses the equal opportunity which IXC has offered the masses to enrich themselves.  It wouldn't take much to get IXC up there with Bitcoin (and beyond) as far as distribution goes. 

You have all failed to hear the truth for half a decade:  HEAR IT NOW; iXcoin is gonna take over the world!!!

Shit or gold is not the point. The point is a glimpse of what can and probably will happen to Bitcoin in the future once all coins mined out.

Play the tape out into the future.

What do you think will happen once Bitcoin has birthed out all coins?

Not the ones with tail emission.

Fees?  You'd need a lot of fees to justify a global PoW network. 

No, never ending block reward, like doge or Monero. Monero implemented it so that dynamic block size would continue to work properly after main emission is over. Also, this thread is retarded. It's like saying if doge dies then LTC is kaput. Or UNO dies then Bitcoin also dies.

Change the algo to POS and problem solved..

Booom , And their it is ,

Why PoS will defeat PoW.  :D

 8)

only if the price doesnt follow. but i'm sure it will, it's just a matter of supply x demand.



nope.
when bitcoin pow ends(the reward to be more precise) the value of one bitcoin will be WAY more than it is today.

so, even if you receive just a few satoshis for the block, it will be profitable(few satoshis converted to fiat will probably be enough to pay energy+hardware).
but i'm hoping for POS too :D

PoS alone is not secure enough. 

Set the minimum stake age like an hour the Difficulty # will be extremely high.
Set a rolling checkpoint like blackcoin or Nxt , that refuses reorgs after a # of confirmations.
There is nothing more secure than that.  :)
Everything before the rolling checkpoint is sealed in stone.  :D

Compared to BTC weak ass security (51% attack by the Chinese Miners that have shown as high as 70% in the past year)
Considering the last 12 hours of transactions history can be rewritten at a whim, if the Chinese mining pools get pissed.

Tell me again how PoS is not secure, when PoW security has been a drive-thru at a Chinese Restaurant for over a year.
(It makes me Laugh!)  :D

 8)

i doubt iX could/would hardfork.

perhaps a spinoff?
i don't think a PPC-like POS/POW hybrid +MergeMined exists yet? (maybe decred but that's on Blake)

We've bounced around the idea of forming our own merge-mined coin syndicate.  A few great, legit, honest coins are being left to die.  We can also move to Keccak since it's a better algo + maybe going to multi-algo.  Not sure about PoS since that would require changing the hardcap. 

Kiklo, you're awesome! I love how you just say it like it is. Such logic. So simple.  Have a nice day! :)

I remember Ixcoin :') but just let it die.

Quitter!

You may get your wish in the next few weeks. 

Yeah, armchair quarterbacks can sure make the best calls.  Simple!  He needs to correct Satoshi next; and feel all special inside.

We've been at this for years without a dollar in help from any backers.  Without a dime in pay.  Without anyone saying:  Thanks assholes!  Begging for community donations and selling our personal shit to pay coders to give the IXC community better logos, websites, wallets and code updates. 

Not quite as simple as hindsight! 


Gotta go return some videotapes...

First time I hear about it, seems like it's mining been over already and bitcoin will take another hundred years to be completely mined but no worries we'll think about the doomed part then :D.

Bitcoin will be 99% mined out in like 15 years.

You should start worrying right about...NOW!

Wow, didn't realize it was coming up so soon, but you're correct. About 98.4% at the sixth halving, which is like fifteen or sixteen years from now.

That's right.

So, basically, if iXcoin dies then Bitcoin is already dead.

Just something to think about.  :)

Maybe the death of bitcoin will result in the rise of Altcoins, it may not be such a bad news,or they will change it to a non mining blockchain, like a proof of transaction using fractions of the nodes power to do the job instead of mining. It may also be a solution for this coin, but id depends on its acceptance.
Or as everyone here is saying, why not switching to POS or to merge mine with some sister coins, or maybe a "merged mining conglomerate" it would be very insteresting for miners, but someting like this may eventually save a lot of POW coins, bitcoin included, but it must include rewarding coins, and several aspects have to be checked, maybe it will be too late to save Ixcoin, but others may survive.

Everyone here is screaming the end of the world when talking about this situation but with Bitcoin instead, when all the Bitcoins are mined out don't you think they would of already prepared the network to reward the miners with transaction fees, many people are sending Bitcoins every day so I couldn't see it dying if that gameplan came into play.

There is no reason why other coins can't do the same when they are all mined out.

There is one, and it is the most important one.
The price.
1 bitcoin is worth around 750$, how about Ixcoin ? maybe in 15 years bitcoin will be worth 2000$, at this point the TXs will be far enough to pay for the miners, it will be up to them to regulate the diff.

Hey,
I feel all special inside anyway,  :D

Many coins got hit with high difficulty early on, ignoring that and not changing yours to every block is what the underlying flaw of your coin is.
And when the months of time pass and you finally get your coin working, unless you update your code, their is nothing stopping someone from driving the difficulty up on you again.

Your Coin has provided a great service , it shows exactly how the PoW miners will behave at the end of block rewards.
That has been an invaluable lesson to all.
So Thanks for that.  ;)

 8)

It has only shown what a relatively short pow mining period coin that has very low userbase will behave.  There is virtually no comparison you can make with how bitcoin will pan out.

No it's not

Hmm,

Are you really going to sprout nonsense like that.

Both Coins use the same algo, they were merge-mined.
Casually referred to as Twins. Both end with the same quantity, the only difference is ixcoin reached the end of their block reward faster.

PoW miners could have continued to merge mine making their main profit off of BTC while handling the transactions for ixcoin and receiving the transaction fees.
They decided the transaction fees were not worth the effort and discarded ixcoin like a used up whore. (No offense to whores)
They will treat BTC the exact same, mine something else , because if you have not noticed,
Pow Miners care nothing for the amount of resources they are wasting or the fact they are raising the electricity prices of their neighbors.
They buy hardware that is outdated / useless within 1½ years, care nothing for their drain on the environment.
Hoard their product to artificially fake a higher price, (you don't really believe that BTC crap is worth over $700) ,
Fake Trading Volume on Markets with no trading fees.

Keep trusting those crooks, they are due for a major sell off to fiat profit in 2017.  ;)


 8)

Give me one good and comparable alternative to bitcoin first and then we can discuss whether to do the things you are suggesting.
Can you mine bitcoin right now with low power cost? yes.
Can you trade bitcoin in price range of $720 up to $780 or not? yes you can.
Can you use bitcoin as a payment method in different online shops like fiat money or not? absolutely.
I'd say bitcoin is well and alive wouldn't you?

What a laughable OP shitpost, lol lol lol.

Indeed! What is the problem? The Bitcoin developers have fifteen years to sort this out.......
umm.. wait a minute... block size, segwit.....
yeah! Fifteen years aint nearly long enough!  :D

iX will NEvEr die.

but it might stagnate and hang.

Hahaha!  So true. 

This is sort of the point KiDs ...

I know you BTC maximist, all high on $800 BTC, will go Na Na Na, whateverz.
But this is a reality of the code.  [Again the canary is gasping and weezy!]
BTC camp will likely ignore this for 3-5 years.  Then the sharks will chomp it to pieces and float off to the ALTs that have established themselves.

The solution is NOT TO FORK but to develop the current MM SHA coin suite, and to launch a few more projects.  Also projects like XCP and OMNI could inject revenue via platform fees.  

Longterm vision stuff.  And SHA 256 in general has been vampire like in sucking all the revenue to the BTC side while basically ignoring SHA alts.    

Interesting.  Thx. 

What's your take on the difficulty reset every 144 blocks? 

reset every Block (why not?)

But I don't think iX should fork. 
Spinoff, reset every 1.44 blocks/add POS, shareholders get 2 sets of iX ;)

Reset every block and spinoff instead of Hardfork?  That might actually work well with what we have in mind. 

point is HARD FORK vs. spinoff

{so iX "Classic" goes off into that 'GoodNight!'}
yet 2 exist, theoretically.

_{*Because project = FAIL; it may take 20-30 days @ 100 TH/s for iX 1.0 to confirm TX}

This is total nonsense. Who cares about some unrelated altcoin that works under a different blockchain? it's not bitcoin, that altcoin can go and die, so what, bitcoin is growing and making great gains for holders, we are about to see the best year on bitcoin ever, 2017 will be glorious, altcoin fudsting is veyr noneffective. It's just sad to see all those shills pumping coins while claiming how bitcoin is doomed.

Bitcoin will most likely hit $1 million.  I've said this from the beginning but Bitcoin won't be the high txs, daily use coin.

Hmm,

The people that believe their Alt is better & more sustainable than BTC.  ;)

BTC is a crap coin , it is old & slow, and having an internal power struggle between the BTC core (LN=Bankers) and the Chinese Miners.

Make no mistake , this year BTC price is nothing more than a pump , the dump comes in 2017.

BTC reached it's peak in Nov 2013 of ~ $1275, so technically it has been and still is a LOSER from over 3 years.  ;)


 8)

Only if a cup of coffee costs $1000

https://bitcointalk.org/index.php?topic=1418964.msg15094043#msg15094043

Is there a link to the Ixcoin emission curve and how it compares to Bitcoin's emission curve?

https://web.archive.org/web/20111006062902/https://ixcoin.org/wiki/index.php?title=FAQ

This makes non sence to me, yes there is a struggle, yes the transaction speed is slow, but i don't think thant bitcoin will drop mainly because of the increasing acceptance, at a moment they will be forced to work together in order to either maintain the price, any way, they will solve the struggle, and the dump you are talking about can't really happen unless miners decides to stop mining. Even in this case, Altcoins will fill the space left by Bitcoin, there are a lot of users here supporting them, the scam coins can be easily identified, so as legit coins, it will be up to the end-users to decide.

You see the Struggle, You know it is slow.

What many people don't get, is the price is only going up because less people are using it to buy goods & services.
When you spend BTC on physical goods, the vendor immediately converts it to FIAT,
to avoid the price fluctuation which could have made them sell a product for less than what they paid for it.
This causes a downward price pressure , until a leveling off occurs of people buying it to spend.
BTC Volume is eons away from showing a leveling off, that would create a stable price.
 
Right now Only a bunch of speculators & day traders are holding , but with the market only going up, means actual usage as a currency is not happening.
IE the pump.

Now After Jan 1st , those speculators will be able to cash out to FIAT and it will be 2018 before they have to worry about the taxes in the US.
(Speculation is the U$ Dollar will grow much Stronger, holding BTC will be too risky in comparison.)
Also at some point Those miners are going to have to update those ASICS, and they will dump their BTC to afford more.
IE: The Dump
(Scheduled in 2017)  ;)

 8)

this recent BTC block has fees worth    0.87361409 BTC
https://blockchain.info/block/0000000000000000031a205f604beb1df9a3ea8e090a5336fd62ec66801ef1f1

(amusingly , the next two blocks were both within 4 minutes and have much lesser fees
0.4166319 BTC
0.01224262 BTC)

needs to consider are,
value of fees in $$$ (as BTC increases we can expect fees in BTC to decrease)
and
will segwit or other new features increase the number of tx in block, and what will the increase in fee value be?

..
IxCoin does not have a popular usage, to say it is directly parallel to BTC is poor logic.

Thanks for the link.

I see two issues here. First there is the very small miner reward that has already caused the difficulty to fall drastically and then there is the delay in the difficulty adjustment that is causing the very slow blocks. The latter phenomenon is seen in other SHA 256 coins, for example Freicoin, where a sudden drop in hashrate is not reflected in a corresponding drop in difficulty. This can cause the hashrate to fall even further in a vicious circle and lead to very slow blocks. Freicoin is a good example because it has a tail emission from the demurrage. This shows that the slow blocks are not caused by a lack of a tail emission or very low emission alone, although a very small emission can aggravate the problem. The slow blocks are for the most due to the recycling of old ASIC Bitcoin miners to mining other SHA-256 coins. This can lead to sudden drops hashrate that cause the slow blocks because of the delay in difficulty adjustment. I do not see this been an issue with Bitcoin since Bitcoin is by far the lead SHA256 coin. The very small block reward in Ixcoin on the other hand is a warning of what can happen to Bitcoin security wise.  

Does it really matter?  I dont see how. most people dont even know it exist.

The reason why Ixcoin went the way it did was because it was just another clone coin... ::) Yeah it cloned stuff when nobody was cloning anything but the person/dev that done so didn't take in the exponentially expanding network hashrate of Bitcoin & reward structure, it is mined out it & needs a hardfork of 1 Reward Indefinite to be sustainable ;)