Bitcoin Forum

I wish I could post this to the graincoin thread (https://bitcointalk.org/index.php?topic=361503.0), but I'm a newbie.

I bought 1 Million graincoin for a significant amount of $ and BTC and a recent blockchain fork/fix took my coin!

See the beginning of the graincoin problem here: https://bitcointalk.org/index.php?topic=361503.420

The graincoin address was 93vjdAw4GWL8Fe1HhVrKqL29jMCbf2q9od

Check the block explorer to see that the address is now missing:

http://coinblockchain.com/grain/address/93vjdAw4GWL8Fe1HhVrKqL29jMCbf2q9od

I need to contact the graincoin devs to sort this out. This was a significant chunk of coin bought at significant expense.

How can I contact the devs in this situation. Can a non-newbie mediate a post for me?

No one is really a newbie because it's just a temporary rank and in this situation try to search the devs as much as possible.

what coin???

I lost graincoin to a graincoin block chain fork/fix.

Good.
If forks happen like this the coin deserves to die.  dog eat dog (or doge eat doge)

This sound be on the sticky wall for things you don't make.
Investing $ in a new alt coin without researching it a bit.

The alt coin bubble is going to blow up and God! , there will be some whining stories afterwards.

I researched it. It had moved to PoS only, so I bought based on no new coins. The devs fixed the PoW by dropping one or several blocks without discussion. They were silent until the fix came in. You can't research what the devs will do if they are silent.

They shouldn't have fixed by dropping blocks or forking. It destroys the integrity of the coin.

If you researched it  , can you please tell me who devs of this coin are?
Cause I've been reading the first 10 pages of that thread and I couldn't see anything that resembles a dev , more like an epic clonefail.

I don't see your problem. Coins are on that address. Maybe they fixed it or something but now it seems like it is ok.

When I checked his address half an hour before there weren't any transactions just an empty address so I figure they have somehow figured out the issue with this

Thanks stompix for vouching that I'm not a kook. All is well, for now....

BTW, no one knows who the devs for bitcoin are, so I don't know what knd of standard that should be.

You probably think about the one and only Satoshi Nakamoto.
But for the rest , you can find them here:

http://bitcoin.org/en/development
Transparent enough?

Never heard of Graincoin - Be very careful when investing in monkey coins such as this one - you could, and did, get burnt.

this thread will be updated when the issue is resolved.

I will just go ahead and say that if this guys coins are missing as a result of the fork directly that he will be taken care of.

also, every new coin starts somewhere, devs fixed the coin quickly when it broke and minimal impact on balances, its now working great.

while it is risky to get into new coins early, in this case tx42 picked the right new coin to jump on board with. :)

all aboard the grain train, wooo woooooooo


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if you want to make $$ mining, get on the train. just aim a little hashing at it, you will thank me later.

https://bitcointalk.org/index.php?topic=361503.0 (https://bitcointalk.org/index.php?topic=361503.0)

Why?
Any real reasons for it?
What makes it so special and unique?
What features does it have? Who are the devs behind it? Somebody using it?  Merchants accepting it?

Any of this?
Or just create coin , mine the shit out of it , pump and dump , next coin?

its fun to mine, its not being instamined, the premine will be managed effectively.

giveaways, superblocks, PoS steaks, good name, good community

will be developing into something great, just because not all coins are good doesn't mean all new coins are bad.

imo the settings of the coin are good for transactions, and it makes a great coin for testing your rigs out if you aren't into mining new coins.

I think if things continue along smoothly this coin has a good chance of making exchange, and longer term, being a stable member of the crypto currency market. check it out, the 30 second block time and total coins produced are good choices, the PoS @ 5% is a good choice.

I just think its a good coin setup compared to some of the other trash ive seen.

also everyone knows you always go all in on grain.

re this specifically, what I meant was, if his coins are deleted by the fork I guarantee they will be replaced by the devs.

perhaps many other coins wouldn't support their community so well in these circumstances.

I think this is the only case of such a large lost transaction from the fixing of PoW mining.

I hear the same thing about the all the alt coins. And so many times I feel like seeing a copy paste message.
Fun to mine? What the hell is that? Starting the cgminer and watching fans is fun?
It's either poor marketing or you guys need to go out more.

As for the rest of what you said , 30 sec block? we have at least 10 coins doing the same , also 10 with 15 seconds , 10 with 60 seconds in less than a year will have 10 with 29 seconds and 10 with 32 seconds.

For the second bolded part.
Why is graincoin better than ..doge?
WITH FACTS! No community , fun bla bla non sense for catching noobs for your pump and dump schemes.
FACTS!!!!!!!!

I don't know that it is... its different, or maybe not even that... its not a ridiculous pump and dump cash grab of overvalued joke coin? (not a shot @ doge, doge is overvalued, and created as a joke, and being pumped and dumped)

there are no facts separating the value of one coin over another in the scrypt alts market right now, other than established market cap and your own interpretation of the trustworthiness, skill and reliability of the dev team. fundamentals haven't even begun to enter the picture other than instamine scamcoins being *somewhat* avoided by the established community, and the top dogs like litecoin showing some deviation from tracking bitcoin on their own fundamental value.

when I say its fun to mine, all I mean is if you are soloing it then it pops out a superblock once in awhile, worth quite a bit, tahts always nice to see even tho its random and simply adds variance and calculation complexity to coin generation.

at any rate, im not saying its fundamentally any different than the rest, but imo the coin settings are very nice. this is a well balanced setup between tx confirmation time, money supply, and PoS inflation.

also the theme of grain suits well the varying crop sizes of blocks, and the PoS concept.

given the options out there, I think GRA is as viable as the next new alt, possibly above average, and my experience so far with the dev team has been great. I personally am helping support the community with any issues they encounter as members of our grain community, and this is how we will build the profile of the coin.

good community, good support, no shenanigans, fair everything. we need community support to grow a coin and if we all work together to prove why its good then everything will work out in the end.

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** edit, I wanted to add that im pretty sure EVERY SINGLE COIN fits the definition of a pump and dump scheme, at least out of the gate. only time will tell which of them will retain value in the long run, and which devs will cash out and run, which will stay to grow even bigger.

one has to realise in a bubble market you take profits while you can get them, and that the long run for us may only represent months or a year or two. unlike the real business world, if this market tanks its not coming back. if you create a startup with the intention of being bought out, that's a viable business plan. you are transferring your risk onto another party when you sell. (market risk). this party then holds all the risk and all the upside. if there is no backing to the purchased assets it only makes sense that you would want to grow quickly, and sell while its high.

every single unregulated open market will suffer from severe liquidity issues during its infancy, resulting in high volatility. even the most well-intentioned of coins would suffer from pumping and dumping outside of their control.

basically you want the dev team of a coin to have a lot of coins in their control, its incentive to grow the coin. this is why premines are good, and instamines are bad. it also allows for some profit taking on initial market listing, which can help further grow the coin, or line someones pockets, or both.

ultimately at some point the initial investors in a coin be they miners or devs or scammers will want to take profits, to automatically call this a pump and dump scamcoin is not accurate. only after a coin has been pumped, dumped, cashed out by devs and abandoned, then you know whether you were right. at this point its all just speculation, you give no chance to any coin to prove itself in an even bigger way.

if devs get rich and retain a large share, or the new large shareholders get involved, the coin can just keep growing. changing ownership does not imply failure, a premine does not explicitly indicate pump and dump. there is no reason a coin cant be pumped up, devs sell out, get super rich along with early miners, AND THEN CONTINUE TO GROW THE COIN EVEN GREATER.

not trying to say this will happen for GRA, just that the general consensus among the community that premine = scam, new coin = scam, etc isn't very well thought out and leaves no room for ANY new coin to grow and prosper, no matter how well intentioned.

you are trying to kill the young prince before he has left his cradle, lest ye be deposed of your throne upon his coming of age. a prudent choice, but alas, what of the kingdom? have ye strayed so far?

I like how this guy thinks ^

@Jollyburner

since the guy befor esaid that he likes who you think , I will say I like how you write or talk:).
Have you considered politics?

Because you managed to write .. what .. 40 rows of .. nothing.
You just said the stuff people already know about alt coins , clones with nothing better than a better reward for mining in the early stages.

and for the last paragraph  , this is not a new prince , this is a parasite feeding from the main crypto.
It brings nothing new but it lures victims into buying it , mining it and taking security as hashrate and investments as money from other coins.

@Rofo see moreover nothing may be more interesting to know how much this Graincoin may growth.

ok well this is your opinion.

following this logic everything except bitcoin is a scam full of victims. I would then argue that BTC itself must be, were that the case.

imo there is nothing innovative about any of this, other than ease of anonymity. the crypto market itself is a speculative bubble tied to the perceived value of this anonymity and effectively free global transfer of wealth.

the point is that no one really understands the fundamentals behind the market and to argue as though there is some solid footing you are standing on is foolish. by your own reasoning all coins are taking away from BTC, but you wouldn't make this argument because it is absurd. so you arbitrarily decide which coins you feel have value, and assign the status of parasite to all those you don't, or which newly arrive on the market. again, I feel this is a foolish position to take.

I should take this opportunity to point out that I agree many of these coins are doing nothing different, but is there really so much value in providing some small new gimmick? I mean, yes there is, but also creating another brand of managed crypto does not add or detract from other coins, people in the market make their own decision as to which coins they should be mining, supporting, investing in, etc.

whether they are right or wrong, victims or not, they chose to leave another crypto for a newer, higher risk coin. this is how coins get started.

also to say taking security as hashrate from other coins is inaccurate, imo, the crypto market is more secure as a whole by having many different cryptos in the sense that an attacker must focus his attention on any one coin at a time, and cannot attack the majority of the market by focusing on a single target.

probably the biggest concern and problem right now with the whole crypto movement is the threat of government legislation or severe attacks on the network causing a crash of the market. were it not for these factors BTC would be trading much higher, as a secure investment with low inflation it is a very attractive prospect during a global economic crisis with no signs of end in sight.

once BTC has proven itself unstoppable it will rise to new heights, bringing the alt markets with it. it is in this new landscape that we will see a change emerge in the "parasitic" altcoin market, with institutional investment backing more and more alts that show promise as legitimate contenders in the market for BTC alternatives.

imo there is no reason at all why we cant have 20 or 30 or 500 legit, valuable, cryptos. it probly wont be 500, but you get the idea. not counting commodities or community rewards programs there are probably already >300 fiat currencies trading in the world. there are likely over 10000 community rewards programs which are arguably similar in nature to crypto, 100s of which carry higher market caps in perceived value and utility to the consumers using them than most alts.

do u really think there is more market cap in any alts right now than say, airmiles? safeway points?

in the end there is more than enough room for everyone, some alts will be small, others will grow stronger. I will guarantee you right now that some alts which were created recently will become players in the market, some yet to come will also make it. this is the reason people are willing to take the risk on new coins, it is the nature of speculation.

an efficient market is actually incredibly inefficient when not observed on a macro scale. individuals operating inefficiently against one another is what creates and guarantees the efficient market. EMH 101.

according to the same hypothesis, were there room for 1 new alt, 100 would be created seeking this wealth, most would garner some, and eventually the process of natural selection will result in the winner emerging victorious, its competitors slain, laying by the wayside along its path to glory. separating the wheat from the chaff, if you will. (thinly veiled grain reference)

since there are no barriers to entry, this is what we are seeing right now. with room for potentially dozens of new alts to gain significant market caps and increase greatly in value over the shorter term, well... hundreds of new alts.

while many may be scams, or failures, copy pasta, etc. to argue that they are all worthless and having some sort of detrimental impact to the market as a whole seems to me to be a naïve viewpoint on the matter, and one which is often expressed within the crypto community. tons of new alts with not much different to offer was and is the inevitable outcome of a very new and complex market getting some legs within mainstream investment circles.

and I don't feel like im saying things people already know, the facts im presenting as arguments are well known, but the lines of reasoning I put forward seem bereft of any exposure within this community ere I have writ them.

This thread: someone who has no idea about how a cryptocurrency work is wasting bits and bandwidth. Lol "the devs" is like "please close the coin servers!"

I stopped at:
also to say taking security as hashrate from other coins is inaccurate, imo, the crypto market is more secure as a whole by having many different cryptos in the sense that an attacker must focus his attention on any one coin at a time, and cannot attack the majority of the market by focusing on a single target.

Please , read it again , and again and If it's necessary again and man , got a clue how many stupid things you type here.
What is easier to take down: 100 websites hosted on a vps or google with a ddos?

Now , to make you understand what kind of clone I would value:
One clone that is pruning the blockchain
Reduced tx size
A new form of identification for transactions , maybe a 2fa ? (although i have no clue how it will work?)

not name, block time reward funny logo or cool icon.
REAL IMPROVEMENTS.
and not one of a time , a few once.

I agree with what you are saying, improving the methods is very important. not all coins will do that though, most will probably just do the same thing again with a different name. I am not trying to make a case for the awesomeness of a given coin, or the awesomeness of generic alt coins with no amazing new features. all im saying is they will exist and some will do quite well.

regarding the security angle I understand very little, I was simply referring to the fact that were the entire crypto market distributed evenly amongst say 10 top players holding 90% of the network by market cap, with none exceeding 50%, to me this seems much more secure than for example currently BTC holding 95% (?, ish? ) of the network by market cap.

currently to compromise BTC would kill the entire market. if it represented only 40% of the total, 60% of the market would remain unaffected, and further there would be somewhere for people to hedge that risk.

so basically I am not referring to the current situation when I talk about security, I am referring to the hypothetical market that should/will develop if cryptos prove sustainable longer-term, in which there is more than 1 key player by market cap. monopolies involving at-risk assets are prone to catastrophic failure. this is all im trying to say.

so again I agree with these most recent statements you put forth, coins bringing awesome new features stand a much greater chance of success, imo, but they will not be the only examples of successful crypto launches in the coming months.

I welcome further discussion of theoretical improvements to the security or features of new alt coins, although my technical understanding of this topic is quite limited. its definitely important to identify what constitutes a problem with the current implementations which could be improved upon with future releases, or a new feature which would add to the security or utility of a coin. this will give you a solid fundamental basis for investing in new cryptos which sport these features you consider important.

also discussion of these issues is what prompts further investigation by devs, if the market is saying "we want x" then that is what the marketers will bring you, if they know what they are doing. so please expand further upon your ideas and share them if you think there is value, this type of contribution to the community is one of the most important.

I researched it. It had moved to PoS only, so I bought based on no new coins. The devs fixed the PoW by dropping one or several blocks without discussion. They were silent until the fix came in. You can't research what the devs will do if they are silent.

They shouldn't have fixed by dropping blocks or forking. It destroys the integrity of the coin.

I panicked too early. The devs fixed the problem and the 1e6 coin showed in my wallet.

In the end, the fix was not a fork but a bulge (terminology borrowed from nucleic acid structural biology). 3 blocks were skipped.

I only posted here because I thought newbie status would last much longer.

Solutions are better than criticisms. I think this coin will be alright.

Altcoins serve a valuable purpose in that they attract investors and build the true capitalization (actual dollars invested versus "market cap", which is fanciful) of the cryptocoin market. The attraction is speculative, but it exists nonetheless.

As the true capitalization grows, it serves as ballast for the entire market, making each coin more stable and more likely to be a unit of valuation. In other words, as investment in the cryptocoin market grows, it is more likely that goods will be priced in cryptocoin.

If cryptocoin valuation ever happens on a large scale, then it will be transformative for cryptocoins in general. So, even though altcoins take away from the true capitalization of bitcoin, they do contribute to its underlying utility.

This is good, from what tx42 went through, I can see that Grain is a good coin...

Maybe you want to change the title of your post. I thought initially that you lost big in that coin.