yup it destroys its own market.  since the reward drops so fast its not worth the mining effort.  As a result you are left with a small pool of miners from the start.  Even if you have a few miners that have bitbars and are willing to trade them who would want them.  

I think the intent of the currency was to try to make them very rare.  Bit-bar like a bar of gold or bar of bitcoins.  The hope was that the price would rocket up beyond a bitcoin and the early miners could sell at very high prices.

But since it has a high entry cost to mine and very low value to start it is costly to mine, little to no profit it in.  Especial when you know that there are a large number of early miners holding a lion's share.

Now if it was very difficult to mine from the start for everyone equally then it would have much more value.

Oh well.  live and learn.

EGGS-ACT-LEE!!!!

This is a beautiful thing.  This is the free market at its finest.  A survival of the fittest.  Lean competitive species that become complacent will be overtaken by others that adapt.  A seething ocean of cryptocurrencies that are competing with each other adding features both advantageous and worthless come and go.  Over time the ones that prevail are the ones that have stayed competitive and have endured, through luck, through timing, and through the right set of features.

Anyone who was thinking that you can just build one coin to rule them all probably has a predisposition to work at a central bank.  Life (evolution) is hard.  Cryptocurrencies are still evolving, its a pool of primordial ooze right now and it will be several years before they mature enough to supplant physical currencies.  Its not that it won't happen, I think that there is a preconceived ideological notion that it would happen in a couple years.

Its not useless, this is great and amazing, this is how the computer industry was in the beginning, it wasn't all IBM and Apple, it was hundred of upstart compatibles that tried to outdo each other in the 70 and into the 90s.  It wasn't until the 90s that a few big names dominated.  But they really dominated. 

Cryptos are evolving and they will be worth a fortune a thousand times in a decade or two decades than what they are now.  They have to go through these growing pains.

If anyone feels like having a huff because their feeling are hurt that they didn't pick the right pony at the right time well... ....that is life  .. that is evolution.

played with it for an hour.  rewards are paltry and getting worse.  advantages early adopters (pre miners) 2 fold.  With such a quickly falling reward  not sure where my incentive is to mine this.  going back to LTC and FTC.

Your post is actually making me look at BTC in a bad light too, for the first time ever. It's kind of altered my opinion of it.

If it's this easy for some 3 year old coin to be instantly accepted as a form of exchange...

I now see why old US Dollar holders think all Cryptocurrencies are pump and dumps.

Because they are..

Maybe I will rethink using anything but USD if this is what the Cryptocurrency community is all about.

again the benefit is for those who pay around $.26 a kW and ti is cost prohibitive to run GPU farms.  It is for those who have low capacity, apartments, renting, or do not have access to high capacity power.  I'm grateful in that I'm not limited by those constraints but I welcome it for those who would like to participate but cannot.

excellent transaction with clint25n.  trustworthy trader.

its back  http://www.cryptonit.net/

I don't really care about it either.  BTC was a bubble last year too.  It stabilized and climbed to be a bigger bubble.  The reality is that all our valuations for houses, cars, and hard currencies are all bubbles.  we just take on a few zeros every generation.  is my house any better than it was 50 years ago.  It's all the same material.  If FTC is a bubble then LTC is one too, then so is BTC and then we get to the grand daddy bubbles, USD, Credit, Equities, Bonds.   BTC is a small fry compared to what is going on to the masses.  

Bubbles com and go but cryptocurrencies aren't there yet.  Its when they get adopted by the masses.  When every other person on your street has a hashing box and we see GPU companies advertising rigs on TV, then it is a real bubble.  We are about 10 years away from that one.

yup  clearly not a bubble.  LTC bubble, FTC bubble, BTC nope not a bubble.

while we are bursting bubbles what is BTCs market cap?

Jumping on the bandwagon of reputation threads.  if Eb0la has one then I'll make one too.

Had successful transaction with Found Nemo.  I bought 33 LTC, I sold 3500 CNC.  Trustworth member.

I had a similar discussion with someone at work a few weeks ago. nothing in the universe has value without a being declaring it has value.  A bar of gold to the last person on earth is worthless, but a companion is priceless.

how about 10 LTC per 1000 CNC?

Fourthed?

agreed.  people having panic attacks.

but there is a pink sheet market and its frontier zone.  you trade high risk with potentially big gains as well as losses.  You can respect it or disrespect it all you want it wont change the fact that people are trading it.

its fun to watch this market.  thankfully all the pragmatics aren't regulators otherwise they would have adopted BTC as the defacto currency and outlawed all others by the posts I see.  Comical I think.  Its a human mentality of self interest.  protecting the old guard that established BTC against the new comers that are sucking away liquidity by distributing it to other coins.  

The thinking is that if it was for these alt coins BTC would be stronger and more widely adopted and would make me richer since I was here a year ago, 2 years ago, etc.

These coins act like pure markets, and its free to establish any number of new coins for any reason.  I welcome them.  Eventually there will be 2 to 3 coins a week being produced and the coin hoppers will not be sure what to jump on next.  You'll have the old established markets BTC/LTC where margins are small but becoming more stable and the frontier markets where there are wild swings and some coins will make it and others won't and people will waste hash time and gamble away or win bid on trades.

We need it all.  Its not about the defacto coin, its about establishing a greater market in cryptocoins.  Combined they are greater than they are individually.

So I guess I'm saying can't we all just get along?

that's the thing about arbitrage.  its a stealth game and your actions wipe it out.  as soon as its discovered the market balances quickly.  seems cryptonix is balanced out now.

FrozenCPU.com mentioed delivering preinstalled cards with water coolers.  Of course they would tack on their margin.  So the labor plus profit to them would result in even more expense with little gain.  I expect that after several more card generations water coolers might be viable as percentage gained in hash rate might go up per step of overclock.  personally I would invest in a solid air conditioning unit with proper ventilation.  It would be much cheaper if you have a farm.