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Title: So what happened with all the "belief" in WDC? Post by: Remember remember the 5th of November on May 22, 2013, 09:37:10 PM It appears more than half the people in this section can't get their facts straight. They said Worldcoin was the best, now the same people are bashing it....
Maybe now you learned a lesson about faster blocks. Title: Re: So what happened with all the "belief" in WDC? Post by: Barnacle_Ed on May 22, 2013, 09:40:30 PM It was the best as long as the mining was quick and the price was high.
Now, it's on to the next Flavor-of-the-monthCoin. Good thing there's 31 more varieties to pick from. Title: Re: So what happened with all the "belief" in WDC? Post by: dreamhouse on May 22, 2013, 09:42:28 PM well that was a panic sell, let's see the after-myth
Title: Re: So what happened with all the "belief" in WDC? Post by: erk on May 22, 2013, 09:45:51 PM Only trolls and noobs are ditching WDC it's still the most profitable coin to mine currently at 127% compared to BTC.
There are certainly more value buy then sell orders on Bter for WDC. Quote Sell orders Price Amount(WDC) Total(BTC) Count 0.00055 121.069 0.06659 1 0.00059 200.000 0.11800 1 0.00060 83.000 0.04980 1 0.00067 830.000 0.55610 1 0.00070 443.911 0.31074 3 0.00081 124.534 0.10087 1 0.00087 18.201 0.01583 1 0.00089 674.532 0.59966 1 0.00089 110.870 0.09867 2 0.00090 10.100 0.00909 1 0.00095 210.000 0.19950 2 0.00096 9.790 0.00940 1 0.00099 102.460 0.10144 1 0.00100 1,650.304 1.65030 Code: Buy orders Title: Re: So what happened with all the "belief" in WDC? Post by: Tittiez on May 22, 2013, 09:48:37 PM Its a shit coin with nothing new, It'll die just like feathercoin did.
I'll just continue merged mining btc and making 108%+. Edit: Maybe that was too blunt. I believe that it'll fade away like feathercoin did. Title: Re: So what happened with all the "belief" in WDC? Post by: erk on May 22, 2013, 09:50:28 PM Its a shit coin with nothing new, It'll die just like feathercoin did. I'll just continue merged mining btc and making 108%+. You must be pretty thick. If you don't call 15sec block target new. Perhaps your just a troll? Title: Re: So what happened with all the "belief" in WDC? Post by: Tittiez on May 22, 2013, 09:53:29 PM Its a shit coin with nothing new, It'll die just like feathercoin did. I'll just continue merged mining btc and making 108%+. You must be pretty thick. If you don't call 15sec block target new. Perhaps your just a troll? GeistGeld. https://bitcointalk.org/index.php?topic=42417.0 15 second block time. September 2011. Title: Re: So what happened with all the "belief" in WDC? Post by: Tittiez on May 22, 2013, 09:55:08 PM You must be pretty thick. If you don't call 15sec block target new. Perhaps your just a troll? Changing a few variables doesn't make anything new. Namecoin was new. Devcoin was new. Tenebrix introduced scrypt. PPCoin introduced proof of stake. Those are something new. Title: Re: So what happened with all the "belief" in WDC? Post by: saudibull on May 22, 2013, 09:58:59 PM As soon as it hits exchange, everyone holding it immediately sells for what others are offering... low, and the people selling keep lowering their price to sell them - No one knows how to make a coin gain value here, no one apparently has the ability to stand firm on a selling price to make it rise... there was demand for it, but as they kept lowering their price, the demand dropped along with it. - If you guys want to have an alt gain value and sell for what you want it to, you have to stop this trend of bringing it down - There is no sense around here about raising value of a coin -
Title: Re: So what happened with all the "belief" in WDC? Post by: clint25n on May 22, 2013, 10:03:26 PM Miners just dumping it as fast as they mine it since it's been on the top of the coinchoose.com list since launch.
Has nothing to do with the real value, especially at a small exchange like mcxnow. The big buys buying in mass for cheap and holding. No way I'm selling. Stocks are an emotional game and trust me, now is the time to buy, not sell. Title: Re: So what happened with all the "belief" in WDC? Post by: AZIZ1977 on May 22, 2013, 10:04:37 PM As soon as it hits exchange, everyone holding it immediately sells for what others are offering... low, and the people selling keep lowering their price to sell them - No one knows how to make a coin gain value here, no one apparently has the ability to stand firm on a selling price to make it rise... there was demand for it, but as they kept lowering their price, the demand dropped along with it. - If you guys want to have an alt gain value and sell for what you want it to, you have to stop this trend of bringing it down - There is no sense around here about raising value of a coin - That is why the Goldcoin community isnt in a hurry to go fast up. You need first to build a loyal network of miners and owners (solid base) and than from their you build up your coin. Title: Re: So what happened with all the "belief" in WDC? Post by: pizza on May 22, 2013, 10:06:54 PM As soon as it hits exchange, everyone holding it immediately sells for what others are offering... low, and the people selling keep lowering their price to sell them - No one knows how to make a coin gain value here, no one apparently has the ability to stand firm on a selling price to make it rise... there was demand for it, but as they kept lowering their price, the demand dropped along with it. - If you guys want to have an alt gain value and sell for what you want it to, you have to stop this trend of bringing it down - There is no sense around here about raising value of a coin - That is why the Goldcoin community isnt in a hurry to go fast up. You need first to build a loyal network of miners and owners (solid base) and than from their you build up your coin. GoldCoin premined and instamined 7,000,000 coins Title: Re: So what happened with all the "belief" in WDC? Post by: pizza on May 22, 2013, 10:07:27 PM network is still at 2gh and im still mining it
Title: Re: So what happened with all the "belief" in WDC? Post by: anderl on May 22, 2013, 10:09:50 PM What a coin needs is incentive to hold it. All coins are inflationary. As more are produced they dilute the value of the older coins. You need to offset the inflation.
Purely hypothetical conjecture A coin that rewards holders of the coin. The coin pays interest to account holders, 50% to holders, 50% to miners. Miners will create the coin and as long as they store it it earns full interest from fees on the network. Title: Re: So what happened with all the "belief" in WDC? Post by: Taxidermista on May 22, 2013, 10:12:54 PM network is still at 2gh and im still mining it What? Network hashrate is at 1.4 GH/s. Title: Re: So what happened with all the "belief" in WDC? Post by: AZIZ1977 on May 22, 2013, 10:15:22 PM network is still at 2gh and im still mining it What? Network hashrate is at 1.4 GH/s. yes its dropping again very fast. Title: Re: So what happened with all the "belief" in WDC? Post by: pizza on May 22, 2013, 10:15:53 PM network is still at 2gh and im still mining it What? Network hashrate is at 1.4 GH/s. 1.7GH why dont you wait 5 minutes and post a different number again, when i posted it was near 2gh. Title: Re: So what happened with all the "belief" in WDC? Post by: clint25n on May 22, 2013, 10:15:57 PM https://bitcointalk.org/index.php?topic=213623
Title: Re: So what happened with all the "belief" in WDC? Post by: pizza on May 22, 2013, 10:16:15 PM network is still at 2gh and im still mining it What? Network hashrate is at 1.4 GH/s. yes its dropping again very fast. you clearly missed the point of 1.7 so it went up. Title: Re: So what happened with all the "belief" in WDC? Post by: Hydroponica on May 22, 2013, 10:17:45 PM Smart people, hold your coins, or buy em cheap. That was a massive dumping, from flash miners. Next comes a massive pump. There's money to be made ;)
Title: Re: So what happened with all the "belief" in WDC? Post by: AZIZ1977 on May 22, 2013, 10:19:35 PM network is still at 2gh and im still mining it What? Network hashrate is at 1.4 GH/s. yes its dropping again very fast. you clearly missed the point of 1.7 so it went up. it went from 2 to 1 to 2 and now again to 1.4 in record time. Title: Re: So what happened with all the "belief" in WDC? Post by: pizza on May 22, 2013, 10:21:29 PM network is still at 2gh and im still mining it What? Network hashrate is at 1.4 GH/s. yes its dropping again very fast. you clearly missed the point of 1.7 so it went up. it went from 2 to 1 to 2 and now again to 1.4 in record time. yep much higher than your shit GLD Title: Re: So what happened with all the "belief" in WDC? Post by: Hydroponica on May 22, 2013, 10:22:37 PM network is still at 2gh and im still mining it What? Network hashrate is at 1.4 GH/s. yes its dropping again very fast. you clearly missed the point of 1.7 so it went up. it went from 2 to 1 to 2 and now again to 1.4 in record time. Those changes in Hashrate, are the same people who believed PWC was 1500% profitable ::) edit - Just noticed, RYC is reporting 180%...I know where they are going Title: Re: So what happened with all the "belief" in WDC? Post by: AZIZ1977 on May 22, 2013, 10:23:29 PM network is still at 2gh and im still mining it What? Network hashrate is at 1.4 GH/s. yes its dropping again very fast. you clearly missed the point of 1.7 so it went up. it went from 2 to 1 to 2 and now again to 1.4 in record time. yep much higher than your shit GLD Why cant you behave one time normal pizza? We all just want to know what is happening. Title: Re: So what happened with all the "belief" in WDC? Post by: Kinetic915 on May 22, 2013, 10:25:18 PM You must be pretty thick. If you don't call 15sec block target new. Perhaps your just a troll? Changing a few variables doesn't make anything new. Namecoin was new. Devcoin was new. Tenebrix introduced scrypt. PPCoin introduced proof of stake. Those are something new. +1 Title: Re: So what happened with all the "belief" in WDC? Post by: Taxidermista on May 22, 2013, 10:28:50 PM network is still at 2gh and im still mining it What? Network hashrate is at 1.4 GH/s. 1.7GH why dont you wait 5 minutes and post a different number again, when i posted it was near 2gh. I'm in Erundook EU and didn't see those violent changes. Still seeing 1.4 GH/s. Title: Re: So what happened with all the "belief" in WDC? Post by: barwizi on May 22, 2013, 10:29:12 PM Its a shit coin with nothing new, It'll die just like feathercoin did. I'll just continue merged mining btc and making 108%+. You must be pretty thick. If you don't call 15sec block target new. Perhaps your just a troll? GeistGeld. https://bitcointalk.org/index.php?topic=42417.0 15 second block time. September 2011. ++ ;D ;D ;D ;D + 1 billion for your cool calm response!!!!!!!!!!! Title: Re: So what happened with all the "belief" in WDC? Post by: AZIZ1977 on May 22, 2013, 10:31:26 PM 23:06:58  getmininginfo 23:06:58  { "blocks" : 52816, "currentblocksize" : 0, "currentblocktx" : 0, "difficulty" : 6.41532247, "errors" : "", "generate" : false, "genproclimit" : -1, "hashespersec" : 0, "networkhashps" : 1078770644, "pooledtx" : 0, "testnet" : false } 23:29:18  getmininginfo 23:29:18  { "blocks" : 54242, "currentblocksize" : 0, "currentblocktx" : 0, "difficulty" : 6.41532247, "errors" : "", "generate" : false, "genproclimit" : -1, "hashespersec" : 0, "networkhashps" : 1934717394, "pooledtx" : 3, "testnet" : false } 23:43:54  getmininginfo 23:43:54  { "blocks" : 54303, "currentblocksize" : 0, "currentblocktx" : 0, "difficulty" : 6.41532247, "errors" : "", "generate" : false, "genproclimit" : -1, "hashespersec" : 0, "networkhashps" : 2026000016, "pooledtx" : 2, "testnet" : false } 00:30:46  getmininginfo 00:30:46  { "blocks" : 54476, "currentblocksize" : 0, "currentblocktx" : 0, "difficulty" : 5.48483013, "errors" : "", "generate" : false, "genproclimit" : -1, "hashespersec" : 0, "networkhashps" : 1404999961, "pooledtx" : 0, "testnet" : false } Title: Re: So what happened with all the "belief" in WDC? Post by: erk on May 22, 2013, 10:32:52 PM Its a shit coin with nothing new, It'll die just like feathercoin did. I'll just continue merged mining btc and making 108%+. You must be pretty thick. If you don't call 15sec block target new. Perhaps your just a troll? GeistGeld. https://bitcointalk.org/index.php?topic=42417.0 15 second block time. September 2011. Experimental currency, read your own link perhaps? I have already covered this claim in other threads. Title: Re: So what happened with all the "belief" in WDC? Post by: Tittiez on May 22, 2013, 10:38:20 PM Devcoin is Bitcoin without block reward halving, modified so that 90% new coins go to some developers out there. YAC introduced Keccak (SHA-3), variable N and chacha. "On October 2, 2012, Keccak was selected as the winner of the NIST hash function competition. (http://en.wikipedia.org/wiki/SHA-3)" Enough said? Devcoin may not have as many major changes, but neither did tenebrix or litecoin. Devcoin did have additions though, additions that were required for the voting and the bounties such. At least, to my understanding. Unthinkingbit or Markm would know more. Yes, YAC had some changes as well, I guess that is worth mentioning. Title: Re: So what happened with all the "belief" in WDC? Post by: BitJohn on May 22, 2013, 10:43:59 PM Soooo since when is old or original better? Ever owned a knock off? We had walkmans then iPods then Im sure some of the folks in the thread owned a zune! My point is money is being made its all all coins are a currency. Some people call lira shit money some people like euros all I care about is what it buys me and WDC bout me a couple grand soooo its good. When WDC doesnt make money people wont like it with that being said world coins difficulty being time based seems to adjust nicely to the hashrate dropping keeping the price nice and steady. So which of the elder coins have fast time based difficulty adjustment? hence the death of the feather and CNC. Was mincoin the first of the quick diff adjustment?
Title: Re: So what happened with all the "belief" in WDC? Post by: Tittiez on May 22, 2013, 10:44:16 PM GeistGeld. https://bitcointalk.org/index.php?topic=42417.0 15 second block time. September 2011. Experimental currency, read your own link perhaps? I have already covered this claim in other threads. That isn't my point though, my point is that a coin with nothing new has extremely little chance of survival. Title: Re: So what happened with all the "belief" in WDC? Post by: BitJohn on May 22, 2013, 10:45:13 PM GeistGeld. https://bitcointalk.org/index.php?topic=42417.0 15 second block time. September 2011. Experimental currency, read your own link perhaps? I have already covered this claim in other threads. That isn't my point though, my point is that a coin with nothing new has extremely little chance of survival. I'm in it for the money not the glory Title: Re: So what happened with all the "belief" in WDC? Post by: Praxis on May 22, 2013, 10:46:43 PM GeistGeld. https://bitcointalk.org/index.php?topic=42417.0 15 second block time. September 2011. Experimental currency, read your own link perhaps? I have already covered this claim in other threads. That isn't my point though, my point is that a coin with nothing new has extremely little chance of survival. I wouldn't say extremely low. Litecoin didn't innovate, but look where it is now. Title: Re: So what happened with all the "belief" in WDC? Post by: fenican on May 22, 2013, 10:47:40 PM Don't put too much faith in a market quotation. WDC may trade at .0005 today, .002 tomorrow, etc... Doesn't mean the coin is dead.
Title: Re: So what happened with all the "belief" in WDC? Post by: fenican on May 22, 2013, 10:48:49 PM Yes, YAC had some changes as well, I guess that is worth mentioning. Let me kill WDC a bit more. :D Bitcoin and all cryptocoins that originated from it but kept hash function (NMC, DVC, PPC, IXC, TRC, FRC) are using SHA-256 hash function which belongs to SHA-2 familly and all those cryptocoins can be mined with currently available ASIC chips. SHA-3 used in YAC is different familly, it can't be mined with the same ASIC chips used to mine SHA-256 coins. https://i.imgur.com/mFMJld5.png You lost me. What does this have to do with WDC, a scrypt coin ? Title: Re: So what happened with all the "belief" in WDC? Post by: Tittiez on May 22, 2013, 10:48:53 PM I wouldn't say extremely low. Litecoin didn't innovate, but look where it is now. Err maybe your right, Litecoin is still kicking. I'm just going by the fact that lots of the recent altcoins are limping. A few months ago one would have survived possibly, but now nobody can take them seriously. Title: Re: So what happened with all the "belief" in WDC? Post by: BitJohn on May 22, 2013, 10:50:54 PM I wouldn't say extremely low. Litecoin didn't innovate, but look where it is now. Err maybe your right, Litecoin is still kicking. I'm just going by the fact that lots of the recent altcoins are limping. A few months ago one would have survived possibly, but now nobody can take them seriously. I use the Bitcoin I make from WDC to shop at the Bitcoin megastore I'm just saying ;) Title: Re: So what happened with all the "belief" in WDC? Post by: anderl on May 22, 2013, 10:51:09 PM Yes, YAC had some changes as well, I guess that is worth mentioning. Let me kill WDC a bit more. :D Bitcoin and all cryptocoins that originated from it but kept hash function (NMC, DVC, PPC, IXC, TRC, FRC) are using SHA-256 hash function which belongs to SHA-2 familly and all those cryptocoins can be mined with currently available ASIC chips. SHA-3 used in YAC is different familly, it can't be mined with the same ASIC chips used to mine SHA-256 coins. https://i.imgur.com/mFMJld5.png You lost me. What does this have to do with WDC, a scrypt coin ? Scrypt still uses SHA256 Title: Re: So what happened with all the "belief" in WDC? Post by: crypt0maniac on May 22, 2013, 10:54:57 PM another dumped coinm but it was a good ride
Title: Re: So what happened with all the "belief" in WDC? Post by: TheSwede75 on May 22, 2013, 10:59:53 PM Yes, YAC had some changes as well, I guess that is worth mentioning. Let me kill WDC a bit more. :D Bitcoin and all cryptocoins that originated from it but kept hash function (NMC, DVC, PPC, IXC, TRC, FRC) are using SHA-256 hash function which belongs to SHA-2 familly and all those cryptocoins can be mined with currently available ASIC chips. SHA-3 used in YAC is different familly, it can't be mined with the same ASIC chips used to mine SHA-256 coins. https://i.imgur.com/mFMJld5.png You lost me. What does this have to do with WDC, a scrypt coin ? YAC is scrypt + SHA-3 because it uses both PoW and PoS. Scrypt part differs from all other scrypt cryptocoins because it is (N,1,1) with variable N, while LTC and clones use (1024,1,1). Scrypt still uses SHA256 There is a difference between SHA-2 (256) and SHA-3 (256). Check the table a bit more. Still GPU hashable though. Title: Re: So what happened with all the "belief" in WDC? Post by: bitdwarf on May 22, 2013, 11:01:21 PM Still GPU hashable though. Only till August 13, then it isn't GPU hashable at all. Title: Re: So what happened with all the "belief" in WDC? Post by: anderl on May 22, 2013, 11:04:03 PM You lost me. What does this have to do with WDC, a scrypt coin ? Scrypt still uses SHA256 There is a difference between SHA-2 (256) and SHA-3 (256). Check the table a bit more. lolwut? think you missed the context of his question Title: Re: So what happened with all the "belief" in WDC? Post by: fenican on May 22, 2013, 11:04:54 PM Scrypt still uses SHA256 Quoting another user fpgaminer : "scrypt does not use SHA-256 as its core mixing function. It uses salsa20 for that. scrypt uses HMAC-SHA-256 once at the beginning and once at the end of the algorithm, but salsa20 is the meat 'n' potatoes" Title: Re: So what happened with all the "belief" in WDC? Post by: fenican on May 22, 2013, 11:05:36 PM Also, scrypt cannot be mined with ASICS designed for bitcoin and forks so I fail to see the relevance
Title: Re: So what happened with all the "belief" in WDC? Post by: cryptohunter on May 22, 2013, 11:07:26 PM Still GPU hashable though. Only till August 13, then it isn't GPU hashable at all. Do you mean yac? right now it is gpu hashable ? what will change after august 13th to prevent that in the future? So people are mining yac with gpu right now? Title: Re: So what happened with all the "belief" in WDC? Post by: Twerka on May 22, 2013, 11:07:41 PM You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin.
People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term. Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC... Title: Re: So what happened with all the "belief" in WDC? Post by: bitdwarf on May 22, 2013, 11:08:58 PM Anyway, what happened to WDC is that noone serious cared at all about it, so you were reading only the hypers.
Title: Re: So what happened with all the "belief" in WDC? Post by: bitdwarf on May 22, 2013, 11:13:39 PM Do you mean yac? right now it is gpu hashable ? what will change after august 13th to prevent that in the future? So people are mining yac with gpu right now? 1. Yes. 2. Yes. 3. N reaches 8192 and a test is showing GPUs fail to get any shares approved. 4. There's one known forum user with a working GPU implementation. It doesn't seem to have had much of an impact on the total coin supply, though, and difficulty has been dropping these last days. Check the YAC development thread here for more info. Title: Re: So what happened with all the "belief" in WDC? Post by: kr4x on May 22, 2013, 11:17:11 PM wtf is worldcoin? all aboard the gldcoin train choooooo choooooooo
Title: Re: So what happened with all the "belief" in WDC? Post by: BitJohn on May 22, 2013, 11:19:16 PM um noone wants GDC trust me been trying to sell it FOREVER
Title: Re: So what happened with all the "belief" in WDC? Post by: kr4x on May 22, 2013, 11:19:59 PM um noone wants GDC trust me been trying to sell it FOREVER haha oh JohnTitle: Re: So what happened with all the "belief" in WDC? Post by: BitJohn on May 22, 2013, 11:22:04 PM I have started a thread offering to blow my wallet up for money I am going to see if someone will take it :P
Title: Re: So what happened with all the "belief" in WDC? Post by: Hydroponica on May 22, 2013, 11:25:56 PM Here comes the pump...Panickers can start crying now
Title: Re: So what happened with all the "belief" in WDC? Post by: erk on May 22, 2013, 11:27:07 PM You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin. People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term. Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC... Miners generally have no idea what is "profitable" the use sites like Coinchoose to spoon feed them what to mine. However as I have pointed out in the Coinchoose thread, their methodology is flawed, and it is misleading miners. Quote That image is still just mining revenue. Volume traded in BTC or USD is essential in letting investors know how their coin is doing. Last trade price is also a dud metric even for miners, you want a weighted average or candlesticks, you need to know the average trades that are going on, not the spot price. Mining has lead times. https://bitcointalk.org/index.php?topic=152515.msg2098845#msg2098845I blame the confusing information on CoinChoose for the recent pump and dump by miners of FTC which has caused the coin all sorts of problems. Miners are pool jumping driven by the rapid changes on the site, from a simple change in profitability score, based on some pretty gross assumptions. Just because the spot price on a coin is X, it doesn't mean the miner will be able to sell his coins at that price, the spot price is usually not the same as the weighted average price, and it takes time, hours possibly days, to produce the coins, so by the time he has a salable parcel of coins, the price could have move all over the place. What's worse is without considering the trade volume, the miner is left to think they will always have buyers for the coins, which is often not the case unless they heavily discount, thus proving the profitability rating on CoinChoose to be misleading. Need I mention that each coin has a different lead time until the next difficulty rate changes. That should be factored into the profitability metric. Title: Re: So what happened with all the "belief" in WDC? Post by: cryptohunter on May 22, 2013, 11:27:57 PM Do you mean yac? right now it is gpu hashable ? what will change after august 13th to prevent that in the future? So people are mining yac with gpu right now? 1. Yes. 2. Yes. 3. N reaches 8192 and a test is showing GPUs fail to get any shares approved. 4. There's one known forum user with a working GPU implementation. It doesn't seem to have had much of an impact on the total coin supply, though, and difficulty has been dropping these last days. Check the YAC development thread here for more info. thanks, interesting information. I did think diff would drop off since it was so hard to generate any coins and the price had slumped quite a bit. I couldn't mine much and was kind of still hurting from purchases around 0008. I still think it will come back stronger in the future. Title: Re: So what happened with all the "belief" in WDC? Post by: JesstersDead on May 22, 2013, 11:28:18 PM Here comes the pump...Panickers can start crying now Would seem one does not need an actual reason to "cry" around here... but yeah, you're right lol Title: Re: So what happened with all the "belief" in WDC? Post by: BitJohn on May 22, 2013, 11:29:18 PM You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin. People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term. Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC... Miners generally have no idea what is "profitable" the use sites like Coinchoose to spoon feed them what to mine. However as I have pointed out in the Coinchoose thread, their methodology is flawed, and it is misleading miners. Quote That image is still just mining revenue. Volume traded in BTC or USD is essential in letting investors know how their coin is doing. Last trade price is also a dud metric even for miners, you want a weighted average or candlesticks, you need to know the average trades that are going on, not the spot price. Mining has lead times. https://bitcointalk.org/index.php?topic=152515.msg2098845#msg2098845I blame the confusing information on CoinChoose for the recent pump and dump by miners of FTC which has caused the coin all sorts of problems. Miners are pool jumping driven by the rapid changes on the site, from a simple change in profitability score, based on some pretty gross assumptions. Just because the spot price on a coin is X, it doesn't mean the miner will be able to sell his coins at that price, the spot price is usually not the same as the weighted average price, and it takes time, hours possibly days, to produce the coins, so by the time he has a salable parcel of coins, the price could have move all over the place. What's worse is without considering the trade volume, the miner is left to think they will always have buyers for the coins, which is often not the case unless they heavily discount, thus proving the profitability rating on CoinChoose to be misleading. Need I mention that each coin has a different lead time until the next difficulty rate changes. That should be factored into the profitability metric. coinchoose is a tool to use but you definitely have to do the math as reporting is way off at times. Title: Re: So what happened with all the "belief" in WDC? Post by: Hydroponica on May 22, 2013, 11:30:49 PM I just about doubled all my WDC profits, in an hour, Thanks guys, lets do this again, real soon ;)
Title: Re: So what happened with all the "belief" in WDC? Post by: BitJohn on May 22, 2013, 11:31:34 PM I just about doubled all my WDC profits, in an hour, Thanks guys, lets do this again, real soon ;) nice! Title: Re: So what happened with all the "belief" in WDC? Post by: JesstersDead on May 22, 2013, 11:32:10 PM You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin. People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term. Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC... Miners generally have no idea what is "profitable" the use sites like Coinchoose to spoon feed them what to mine. However as I have pointed out in the Coinchoose thread, their methodology is flawed, and it is misleading miners. Quote That image is still just mining revenue. Volume traded in BTC or USD is essential in letting investors know how their coin is doing. Last trade price is also a dud metric even for miners, you want a weighted average or candlesticks, you need to know the average trades that are going on, not the spot price. Mining has lead times. https://bitcointalk.org/index.php?topic=152515.msg2098845#msg2098845I blame the confusing information on CoinChoose for the recent pump and dump by miners of FTC which has caused the coin all sorts of problems. Miners are pool jumping driven by the rapid changes on the site, from a simple change in profitability score, based on some pretty gross assumptions. Just because the spot price on a coin is X, it doesn't mean the miner will be able to sell his coins at that price, the spot price is usually not the same as the weighted average price, and it takes time, hours possibly days, to produce the coins, so by the time he has a salable parcel of coins, the price could have move all over the place. What's worse is without considering the trade volume, the miner is left to think they will always have buyers for the coins, which is often not the case unless they heavily discount, thus proving the profitability rating on CoinChoose to be misleading. Need I mention that each coin has a different lead time until the next difficulty rate changes. That should be factored into the profitability metric. coinchoose is a tool to use but you definitely have to do the math as reporting is way off at times. Anyone using Coinchoose.com as anything other than a basic tool is doing it wrong. But then, you seem to be playing well ahead of the game John. lol. Was a good call on the early solo mining of WDC on the litebonk forum. Would have over looked it completely had you not said something. But now it's time to get back to paying the 400 dollar monthly electric bill. Blah.... Title: Re: So what happened with all the "belief" in WDC? Post by: BitJohn on May 22, 2013, 11:36:08 PM You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin. People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term. Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC... Miners generally have no idea what is "profitable" the use sites like Coinchoose to spoon feed them what to mine. However as I have pointed out in the Coinchoose thread, their methodology is flawed, and it is misleading miners. Quote That image is still just mining revenue. Volume traded in BTC or USD is essential in letting investors know how their coin is doing. Last trade price is also a dud metric even for miners, you want a weighted average or candlesticks, you need to know the average trades that are going on, not the spot price. Mining has lead times. https://bitcointalk.org/index.php?topic=152515.msg2098845#msg2098845I blame the confusing information on CoinChoose for the recent pump and dump by miners of FTC which has caused the coin all sorts of problems. Miners are pool jumping driven by the rapid changes on the site, from a simple change in profitability score, based on some pretty gross assumptions. Just because the spot price on a coin is X, it doesn't mean the miner will be able to sell his coins at that price, the spot price is usually not the same as the weighted average price, and it takes time, hours possibly days, to produce the coins, so by the time he has a salable parcel of coins, the price could have move all over the place. What's worse is without considering the trade volume, the miner is left to think they will always have buyers for the coins, which is often not the case unless they heavily discount, thus proving the profitability rating on CoinChoose to be misleading. Need I mention that each coin has a different lead time until the next difficulty rate changes. That should be factored into the profitability metric. coinchoose is a tool to use but you definitely have to do the math as reporting is way off at times. Anyone using Coinchoose.com as anything other than a basic tool is doing it wrong. But then, you seem to be playing well ahead of the game John. lol. Was a good call on the early solo mining of WDC on the litebonk forum. Would have over looked it completely had you not said something. But now it's time to get back to paying the 400 dollar monthly electric bill. Blah.... Oh your fine you made the $400 easy in WDC in one afternoon time to pick the next winner :) Seriously though I think WDC's time based difficulty adjustment is going to ramp it right back up and up. Digicoin will do the same. Downfall is when its on coinchoose I think some people literally jump back and forth from pools by the minute (making it way unpredictable). Actually there is an app for that now isn't there. Title: Re: So what happened with all the "belief" in WDC? Post by: Thorgrim on May 22, 2013, 11:38:25 PM GeistGeld. https://bitcointalk.org/index.php?topic=42417.0 15 second block time. September 2011. Experimental currency, read your own link perhaps? I have already covered this claim in other threads. That isn't my point though, my point is that a coin with nothing new has extremely little chance of survival. I wouldn't say extremely low. Litecoin didn't innovate, but look where it is now. What Litecoin did was find markets so you can buy and sell with it. That is why it is worth so much compared to all the other Alt-coins and that is why BTC is still worth more then LTC it has a larger marketplace from which to spend your coins. Everyone seems to be fixated on the technical aspects of the coins but this isn't what is ultimately going to provide lasting value to them. They need to have markets other then just being traded for other crypto-currencies. If that is all they are good for they are speculative value only and their value will go poof as soon as the speculators move onto something new. Title: Re: So what happened with all the "belief" in WDC? Post by: relm9 on May 23, 2013, 12:00:04 AM What Litecoin did was find markets so you can buy and sell with it. That is why it is worth so much compared to all the other Alt-coins and that is why BTC is still worth more then LTC it has a larger marketplace from which to spend your coins. Everyone seems to be fixated on the technical aspects of the coins but this isn't what is ultimately going to provide lasting value to them. They need to have markets other then just being traded for other crypto-currencies. If that is all they are good for they are speculative value only and their value will go poof as soon as the speculators move onto something new. You are right, but in the early stages a huge reason people mined Litecoin was because it was ASIC-resistant. If Litecoin was another SHA-256 coin I don't think it would be where it is today. Aside from only adding or changing trivial things, the problem with these new coins is they are based on the same code as Litecoin, and being scrypt, as soon as they aren't profitable anymore miners go straight back to LTC. LTC didn't have to deal with this problem because it was one of the first scrypt coins. And also, there weren't clones being released daily back then. That alone allowed it to grow more naturally like Bitcoin. My point is it is very hard for a lot of these coins to co-exist with LTC around, you will have a very hard time convincing miners to adopt your coin just by changing some parameters around. Simply having faster transaction speeds isn't enough. Merchants won't adopt a coin on the basis of transaction speeds alone either. I would be extremely skeptical of the security in WDC if only a small % of miners are backing it. I have seen people on here say miners don't matter, which is just ridiculous... in order to prevent attacks you need a large amount of STABLE hash power. Both Bitcoin and Litecoin had a huge amount of miners on-board before anyone started using it in markets. Title: Re: So what happened with all the "belief" in WDC? Post by: BitJohn on May 23, 2013, 12:02:06 AM What Litecoin did was find markets so you can buy and sell with it. That is why it is worth so much compared to all the other Alt-coins Let me recall how situation with LTC went: 1. It was selling for as little as 0.003 when rumours about Gox adding it soon started. 2. Price went to over 0.01 in a matter of few hours which resulted in mining profitability jumping to 300% or more. 3. Miners saw that and switched their hashpower to LTC, difficulty slowly went up to compensate and hitted highest ever values. 4. Even more miners are mining LTC now due to old "LTC on Gox soon!" bullshits still echoing and new bullshits occassionaly being added to soundscape. 5. "LTC on Gox soon!" is starting to resemble BFL's "Shipping ASIC soon!" mantra but most people seem to be unable to fight neither of them. LTC dropped from 0.0325 to 0.0245 recently, you haven't noticed that? I am a fan of both coins but really Bitcoin fell from $260 remember that? Title: Re: So what happened with all the "belief" in WDC? Post by: Twerka on May 23, 2013, 12:45:01 AM You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin. People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term. Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC... Miners generally have no idea what is "profitable" the use sites like Coinchoose to spoon feed them what to mine. However as I have pointed out in the Coinchoose thread, their methodology is flawed, and it is misleading miners. Of course, the site shows what is most profitable only if you mine and sell now; it does not shows what happened if the value go up or down in the future. The tool is good, but people do nto know how to use it. Title: Re: So what happened with all the "belief" in WDC? Post by: Kinetic915 on May 24, 2013, 07:14:22 PM Didn't Yacoin introduce scrypt-3?
Title: Re: So what happened with all the "belief" in WDC? Post by: Thorgrim on May 30, 2013, 02:23:46 PM LTC dropped from 0.0325 to 0.0245 recently, you haven't noticed that? It has and to be honest I am a little dissapointed in LTC performance the last couple of weeks but it is only really dropping vs BTC which has been trending up. In USD it is only down 15 cents. Title: Re: So what happened with all the "belief" in WDC? Post by: Praxis on May 30, 2013, 03:01:43 PM Well WDC is probably hitting Vircurex soon, so that will be its second chapter.
Title: Re: So what happened with all the "belief" in WDC? Post by: Hydroponica on May 30, 2013, 03:06:13 PM Well WDC is probably hitting Vircurex soon, so that will be its second chapter. Think so? I think, perhaps, it will be DGC... Title: Re: So what happened with all the "belief" in WDC? Post by: Jcw188 on May 30, 2013, 03:20:15 PM Well, WDC did have more votes than DGC (wasn't that close). So it's prob. Worldcoin.
Title: Re: So what happened with all the "belief" in WDC? Post by: peonminer on May 30, 2013, 04:56:26 PM So fun to watch trolls spend endless hours repeating themselves for every new alt coin.
Title: Re: So what happened with all the "belief" in WDC? Post by: digitalindustry on May 30, 2013, 04:57:29 PM So what happened with all the "belief" in WDC?
2 dollar shop . Glue. WDC "belief" instantly back. Title: Re: So what happened with all the "belief" in WDC? Post by: clint25n on May 30, 2013, 04:59:17 PM :D I remember this good 'ol thread.
Like a trip down memory lane. Title: Re: So what happened with all the "belief" in WDC? Post by: Praxis on May 30, 2013, 05:16:56 PM WDC had more votes and it has a bigger community behind.
I would be very surprised if Vircurex decided for DGC instead. Title: Re: So what happened with all the "belief" in WDC? Post by: mr_random on May 30, 2013, 05:20:41 PM WDC had more votes and it has a bigger community behind. I would be very surprised if Vircurex decided for DGC instead. +1. Title: Re: So what happened with all the "belief" in WDC? Post by: Hydroponica on May 30, 2013, 06:18:12 PM WDC had more votes and it has a bigger community behind. I would be very surprised if Vircurex decided for DGC instead. Vircurex stated, that the vote, did not mean, that's which coin they would add. There has been a lot of issues, regarding orphans and stale rates, surrounding WDC. DGC has a large community as well, they are just confined to Cryptsy, atm. DGC has shown more stability, in the last little while. There is also, considerably less DGC existing in the world. And, DGC's Dev, is very active, and working hard, to secure our investment. They are both good coins, in their own right, but I believe, DGC may come out on top. |
