If they both use the same addressing scheme then yes of course.

DeVCoin deliberately uses the same addresses as bitcoin precisely so you can send people devcoins to their bitcoin donation address and simply by exporting the privkey from their bitcoin wallet to their devcoin wallet they can access the coins.

-MarkM-

Why is I0Coin suddenly missing from the listings?

-MarkM-

The main advantage of national coins, it seems, is that you don't have a bunch of random people all over the world minting the coins and dumping them, instead the nation can issue the coins in return for things of value and use those things of value as "reserves" with which to "back" their coin.

See for example Canadian Digital Notes (CDN), United Kingdom Britcoin (UKB), Martian BotCoin (MBC) and United Nations Scrip (UNS), tables and plots are online at

http://galaxies.mygamesonline.org/digitalisassets.html

The disadvantage of course is that using a blockchain is insanely expensive, basically it is not practical, because you are not likely to get many miners, even using merged mining, until the transaction volume is huge enough to make the transaction fees add up to enough to attract miners.

So unless your nation has massive massive mining farms of its own with which to secure its coin, it is likely that using a blockchain is simply not going to be feasible; some other method of securing their ledger will be needed until such time as the volume of transactions gets big enough that the transaction fees start to look like enough to be able to secure a blockchain...

The advantage seems to out-weigh the disadvantage though; as those tables at the link above should make clear.

Originally it was expected that bitcoins would be worth far more than any of the "national" coins; however the fact that anyone anywhere can mint bitcoins and dump them seems to have resulted in bitcoin value constantly being suppressed by "dumpers", so that long long ago now the "national" coins far surpassed bitcoin.

-MarkM-

SHA256 merged mining isn't working in Mazacoin is it?

I have been merged mining it alongside all the other SHA256 merged coins using p2pool for some time now and still not finding any blocks, its difficulty is lower than GRouPcoin so I should be finding blocks of Mazacoin at least as often as I find blocks of GRouPcoin shouldn't I?

-MarkM-

No whitepaper?

No anything actually by the look of it, might as well sell pretend ASICs too the whole site seems much like the fake ASIC seller sites, all bullshit and no real content...

-MarkM-

The low prices mean that artists who got coins during times of higher prices could well have sold some thus being ready to buy back cheaper now that prices are lower.

Plus of course those who do not write when the coins people wrote for two months ago are at low prices will not have coins coming in in two months when prices might already be much higher.

Maybe it is a selection mechanism that will help select artists who are intelligent and have the discipline to manage their business/finances, to defer gratification and so on.

Those who sold some on the way up to 193 satoshis per coin a while ago should be happily buying on the way down right now ready to catch the next uptick... Or writing like crazy if they figure the next uptick will not happen until after they get paid for what they write today...

However it seems possible that we might be gradually lowering the volatility over time. As more and more orders pile up from the top down on the sell side and from the bottom up on the buy side we might already be squeezing the volatile range.

-MarkM-

Without merged mining blockchains are insanely expensive to secure.

Look at all the scrypt coins that cannot be merged mined, the highest hashing power of the lot was litecoin yet almost overnight a stupid meme drummed up more hashing power than litecoin had, showing that even the most secure of the lot was actually not secure at all really, just some stupid meme could have blown it away. Luckily it happened to be a "lets be yet another crapcoin!" meme instead of a "lets PWN the crapcoin blockchains!" meme but it showed how pathetic even the "most secure" scrypt coin was.

Now there are two scrypt coins about that pathetic (litecoin and DOGE), and all the rest are just so insanely pathetic that encouraging anyone to buy any of them should be criminal negligence or maybe outright fraud for pretending they aren't just honeypots waiting for enough suckers to put money in to make it worth attacking.

-MarkM-

DeVCoin is still way up above 30 satoshis, sure it is dipping deeper into my buy orders (which I have at every satoshi of price from 1 on up to the active trading range) than it did on the last couple of dips, which is great, but it has gone down as low as 27 satoshis not so very long ago and that was great.

Dumpers must be tryign harder this tiem around though as last couple of dips they only managed to push it down to 50 and 55 or somesuch.

The deeper they manage to push it though the more coins we buyers get to buy and the cheaper we get to buy them, so that when the uptick comes and we get to sell them all for two or three or more times as much as we bought them for we will have that many times as much bitcoin to sit back down on the buy side to make it that much harder for dumpers to drive it down on the next downtick...

-MarkM-

It does not matter how many times someone gets some coins, as long as everyone can jump through the same hopps to get some.

Make people do 100 captchas in a row or whatever, as long as they are not biased to a particular culture or language or race or gender or handicap or lack of handicap (just as do-able for blind people as for deaf people as for deaf-dumb-and-blind people and so on) it doesn't much matter what it is, as the market will end up setting its value what whatever the market thinks that many hours of that unskilled a person's time is worth, with richer people preferring to hire people to do it for them because their own time is too valuable to bother with such garbage...

Plus in any case even if you did give it to people they would lose it to someone soon enoguh anyway that it would be pointless. The folk who rake in 90+% of the wealth will rake it in along with all the other kinds of wealth if it is actually wealth at all.

So really you only end up enriching the fat cats since all the stuff you give to the downtrodden will end up in the hands of the fat cats anyway.

Another way of looking at it is we aleady have all been given a steady income of 24 hours per day. Wow, super-fair. We spend those hours differently. Some folk invest them better than others... But it is fair, right? So don't bother yourself, we already have a perfectly fair currency we are all being given steadily 24/7...

-MarkM-

Because what we really need is yet another crappy insecure free open source codebase for a scammy exchange any idiot can hack...

-MarkM-

Mostly it gets on board a whole population of scammers who don't give a shit that the thing is insecure they just want to dump it.

For a currency that is not good at all.

-MarkM-

Are you going to decide on some method of hashing to use at some point?

Or some other means of securing the blockchain?

If it even is a blockchain based system?

-MarkM-

Just make sure you adjust the total number of digits, before and after the decimal, to keep it in the range that programming langiages / script languages don't go crazy on, otherwise you will break all kind of third party apps people might want to use such as payment processors or wallets or whatever.

You can put more digits before the decimal by using less after it, for example, if you don't want to do the whole blockchain differently e.g. using 128 bit integers instead of 64 bit integers...

-MarkM-

What is wrong with scrypt is that is can be PWNed by a bunch of kids armed only with CPUs and/or GPUs. (Not so much CPUs anymore, but the argument applies to all coins that deliberately make themselves vulnerable to attack by refusing to use the most efficient technology available to secure them.)

DOGE proved that a stupid meme can conjure up enough hashing power almost overnight to overpower even Litecoin.

So basically any scrypt coin with hashrates as low as DOGE's or Litecoin's or lower is insecure. If both were merged mined together maybe that might be better but really even that doesn't really amount to much since the meme attack apparently works partly by attracting miners away. So even if both were merged together another stupid meme might well turn out to be able to conjure up enough hashing power almost overnight to PWN them both.

Other "CPU coins" and "GPU coins" are in even worse shape in a sense, but currently scrypt is the most fragmented hashing type, hundreds of coins all weakening them all by diverting hashing power instead of by merging it.

All the non merged mined SHA256 coins are just as pathetic, they are all attacks just waiting to happen.

Heck not even all the merged mined coins, even though they can be merged mined, have decent hash rates, because so many pools fail to merge all of them so some are hardly merged by any pools at all, or even not by any public pools at all.

-MarkM-

Well secure your damn coin then instead of trying to con people into buying crap that is pathetically insecure.

Buy thousands of GPUs or some ASICs or something, anything, to give it a hashrate that has some tiny chance of actually securing the blockchain.

-MarkM-

That wiki page describes systems that are not actually in use in most (or maybe actually in any) coins.

For example ppcoin, and the coins cloned from it, does not use the signature block every 100 blocks that all the stakeholders sign, which is Meni's proposed method.

That page does not talk about ppcoin's method at all in fact.

Sunny King has always been very evasive whenever the problems in ppcoin are brought up, claiming to have put in fixes at times for example without indicating or revealing what they were or how he imagines they would work.

He was also proud of not having read any of the literature on proof of stake but having just made up ppcoin on his own out of the blue.

So basically just the standard scammer bullshit artist approach of "I don't give a shit whether it is secure, I am making money, fools are buying it, that is what is important not all the academic crap like whether it is or even could potentially be secure".

-MarkM-

So basically they are using a garbage shitcoin to test with?

Why not just use a testnet?

Just how pathetically insecure is the digibyte blockchain? Even less hashing power that Litecoin or DOGE, I am guessing?

-MarkM-

p2pool is a distributed pool.

Each miner runs their own copy of p2pool themselves on their own machine, yet they get the variance-smoothing between them all as if they are all one big pool. Without the dangers of letting someone else construct the block you are going to hash so that no "pool operator" can have you work on an attack block.

-MarkM-

When a pool comes close to 50% of the hashing power warnings go around trying to warn everyone to switch pool.

Some pools close themselves to new users when they get too much hashpower.

It would be nice if the idiots who call themselves "miners" but are really just "dumb hashers who do not actually construct blocks themselves but rather just blindly do dumb idiot-work for a real miner aka a pool" were not so frackin stupid as to use any pool that has more than maybe 25%, or better 20%, or better 1/6th, or even better 1/7th etc of the hashpower.

Ideally they should all each run their own copy of p2pool so they would be truly distributed instead of being dumb idiots blindly empowering potential attackers by using centralised pools at all.

p2pool exists for a reason. Use it. Yourself, not someone else's copy.

If you'd prefer more or prettier tables and charts, offer bounties to get them developed for p2pool.

-MarkM-

Yes that is why I want to read their paper explaining what improvement it is that they made.

-MarkM-