If you prefer not to do due diligence that is your own choice.

There are quite a few search results not only in this section of the forum but also over in the development section.

The material in the development section is likely to be more technical, but as bitcoin itself does not use proof of stake much of the material that started there may well have been moved to here by now.

-MarkM-

The 64 bit integers used in Bitcoin's blockchain, combined with the way numbers are represented in umpteen common scripting languages people are likely to try to use, pretty much forced Satoshi into using the range that he did. There is not much lee-way between the limits of a sixty four bit integer on the one hand and the limits of the universal number representation in a bunch of modern script languages on the other.

-MarkM-

How does RonPaulCoin secure its blockchain though?

So many coins are garbage scrypt coins that the default assumption tends to be that chances are any mentioned coin is just yet another garbage scrypt coin with trivial pathetic hashing power thus totally insecure...

-MarkM-

On Vircurex the API limits you to 100 or so offers.

I have thousands upon thousands of offers so yes I had to do it manually.

In the beginning it meant 16 hour days typing in offers.

But once they are in place it is only when they get accepted by a counterparty that I need to type stuff in, basically putting back on the other side of the orderbook whatever got sold or bought.

Even on Vircurex there are some total garbage coins, for example even when DOGE came along and showed how pathetically vulnerable scrypt is, so little hash power that almost overnight a stupid meme could conjure up enough hashing power to have trashed any of them, Vircurex for some reason did not throw out the crappy low hashing power scrypt coins to replace them all with DOGE (which would have left only Litecoin and DOGE), instead keeping all the crappy pathetic little low hashpower ones that maybe (presumably?) once upon a time had looked like they might actually have some chance of securing their blockchains.

So basically I focus on the merged mined ones with decent hashpower.

Even some of those though are kind of low hashpower, they need to be merged on more of the merged mining pools.

-MarkM-

How about securing your damn blockchain before trying to con people into buying the coins?

It is so insecure it is pathetic.

Buy some ASICs or deploy thousands more GPUs or something, it is garbage right now.

Heck just even try throwing shitloads of coins into fees if you can't be bothered to buy your own hardware to secure your blockchain with, maybe some miners will take pity on you if you pay them enough.

-MarkM-

You need to choose a representation in the blockchain that can handle whatever number range you want to use...

-MarkM-

How is Sexcoin blockchain secured though?

Its not scrypt is it? If so again its stupid to bother with crap that cannot be secured.

-MarkM-

No, the problems are all the ways that PoS is insecure.

Read up on it.

Having hybrid, so blocks can also be mined by proof of work, is one of the most commonly used fixes, but this coin is being touted as having done away with that.

So what mechanism is it using instead to fix the problems?

-MarkM-

The problem of where to buy is why to scatter the offers.

Best are reliable up and down coins like DeVCoin, it regularly goes down to somewhere in the 55 to 30 satoshis per coin range and up to over 175 or over 200 or even over 300 once upon a time. It went down to 27 once.

So I simply have a buy offer at each and every satoshi of price from 1 satoshi all the way up to the current spread, and sell offers from way up over 200 someplace all the way down to the last place my highest buy offer was sitting.

It makes a nice regular income, and jumps from 30 or less to 200 or more are quite enough profit considering I don't have to screw around with dubious crap coins that aren't even on reputable exchanges.

The problem of where to sell is solved the same way the problem of where to buy is: buy all over the buy side and sell all over the sell side. No matter how far it goes out of the boring mid-range you profit.

Also on Vircurex having bitcoins on the exchange earns you income from the fees the exchange charges, so the more bitcoins you have sitting there in offers the more you earn.

Thus hail-Mary lowball offers that are insanely lowball still earn something even if the price never does go down to 1 satoshi or 2 satoshis or 3 satoshis or whatever.

Since you can save on fees by signing up using a referral URL here is my referral URL:

https://vircurex.com/welcome/index?referral_id=597-1636

-MarkM-

Haven't you read up on proof of stake? There have been many massively long threads going into all the problems.

-MarkM-

Well duh of course coins going down are the ones to buy, since if they don't go down they don't hit your buy offers, unless they stay exectly the same and your buy offers are on the top of the buy side of the orderbook.

But there isn't really even any need to look around for ones that are going down, since once you find any that are likely to go back up again if they go down you can just flood the buy side with a whole slew of lower and lower and lower buy offers and move on. You'll know they are going down when your buy offers get bought.

Similarly for going up: as your buy offers get bought, place the coins you bought on the sell side, making a similar huge scattering of offers higher and higher and higher. You'll know the coin going up when your sell offers get bought. If you don't already have sell offers then you don't need to know the coin is going up, except maybe so you can consider whether to scatter buy offers lower and lower and lower ready to ctch it when it goes back down.

Again assuming you think it will go back up again after it goes down.

This of course works best on reputable exchanges in which good long term coins are not few and far between among piles and piles of crap that will just go down and die.

-MarkM-

Getting in on yet another insecure coin seems pretty stupid.

So first I'd like to read the whitepaper about how they solved the problem of Proof of Stake not being secure on its own.

-MarkM-

Also I don't see any link to any whitepaper explaining how the problem of proof of stake not being secure on its own has been solved.

Solving that would be pretty big news in crypto wouldn't it?

-MarkM-

Call it instamined if you prefer.

This thread is the first time this coin has been mentioned here at all, and already it is too late to mine it.

Maybe threads just scroll away so fast whatever previous times it was mentioned simply scrolled off into limbo too fast to get noticed.

-MarkM-

Sure. All you need is something people want to buy.

The nice thing about games is that you can often create things people want to buy without paying a lot for materials.

For example you can take a single character in a MUD into the wilderness and mine gems at very little cost compared to trying to start up a "real" gem mine in "the real world".

Games are thus excellent opportunities for poor folk to scrape up some funds.

Heck "gold farmers" are even traditionally poor folk it seems, although a lot of that might have to do with their doing it in games that forbid it, instead of running characters on scripts in games that encourage the use of scripts.

-MarkM-

But it is pre-mined. No mining is possible, all the coins have already been mined.

The folk holding these are the pre-miners, they have already pre-mined it before you even came here to pump it up.

All those miners who already (aka pre) mined it will clog up the order book just fine.

Now if you'd like to clone it and start from scratch and give people a few years to mine some maybe then you'd be on to something...

-MarkM-

Batteries drive up the price of electricity massively.

Maybe super-capacitors once that clever means of making them with old laser disk writers is commercialised or something?

-MarkM-

Mining is designed to tend toward zero profit. Only the most efficient miners should survive, and that includes having the cheapest electricity rates.

Mining should thus probably end up being seasonal in parts of the world where people need heat anyway, but at some point the coins mined will not offset the heating bill enough to make up for using electric heat instead of some other method of heating, unless electricity is cheap there.

People in places that get a lot of sun or wind or flowing water should be able to hold out a while if they can use solar and wind and water power to drive their effective electricity cost down enough. But mining is a commodity, it does not make sense to do it in locations that are not the most efficient locations.

So basically find out where/how to get the cheapest possible electricity...

-MarkM-

What is the difficulty/hashrate?

Even litecoin had such tiny hashrate that a stupid meme was able to conjure up as much hash or more almost overnight.

Does Auroracoin have more than litecoin or DOGE?

Even litecoin ad DOGE are borderline, each vulnerable even just to the hashing power of the other let alone if you consider all the other hashers out there that are not hashing either of them.

One "PWN the blockchains!" meme could wipe out pretty much any non merged mined scrypt coin it chose and maybe either litecoin or DOGE as well, simply by whipping up as much almost-overnight hash rate as DOGE did. DOGE showed how vulnerable all those coins are, so vulnerable just some stupid meme could conjure enough hashing to PWN them. It is lucky that DOGE was not a "PWN the blockchains" meme but just a "yet another crapcoin" meme. The next meme might not be so gentle.

-MarkM-

Remember that scrypt miners can also use p2pool, to mine for example litecoin and merge other coins.

Is anyone merged mining SHA256 mode successfully? With p2pool?

-MarkM-