Regarding Bitmonero, I wouldn't consider Bitcoin style distribution to be "good economics." We've learned a lot in 5 years and should definitely be doing things differently to improve adoption and increase trade. Also, most coins (including BTC) have characteristics that favor treating them as investments rather than as a medium of exchange.
Do we need another fork? Absolutely. We need a coin that will be just as accessible in 50 years as it will be the day it launches. I don't think we've seen that yet, and even if we have, there's nothing wrong with letting the market decide what characteristics it wants in a currency. The more forks, the better. Let the cream rise to the top.
This is actually interesting. Do you mean a non-decreasing block reward? Or significant perpetual inflation of some other sort? I definitely agree that the BTC model is more investment than exchange medium, although that's a major part of the reason it took off. There are room for all kinds, as he said. That I agree with. I also agree with you that BTC's investment model is part of its success, and it should be self evident that its success far eclipses all others. Is that solely first-mover advantage or does it have something to do with the economics? I don't know. Let the best coin win. Every coin that dies makes the survivors stronger. In fact you can argue that's the only thing that makes them strong. We'll see how it works out. EDIT: I'll add this though, which I mentioned in my previous post. The more the clones fight it out among themselves, the more it favors the original. It's already hard to overcome first-mover advantage. No coin has ever done that to Bitcoin, despite all trying a huge range of changes to economics, marketing, etc. For that matter, no alt has surpassed Litecoin, which very nearly an exact Bitcoin clone. Most of them just have, at best, a flash of success and then slowly die. That's fine if you want to pump-and-dump. It's not fine if you want to actually accomplish something beyond that. If what you are trying to do is help Bytecoin stay on top of the cryptonote-based coins, then more cryptonote clones is probably the way to go. If you don't want to do that, then you might consider the unintended consequences of more clones. |
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I'm working on a BCN fork that will simplify and polish the coin's usage to better prepare it for long term use as an exchange medium. Don't expect anything revolutionary in terms of the tech, just a major improvement to the distribution method and miner payouts. Of course, no pre-mine or taxes or IPO. Also, it will launch with an easy GUI miner and wallet, and it will have a name that people can take seriously. Two people are working on it, but we'd like one more dev on board, so if anyone is interested, PM me.
Is is really wise to create Yet Another Fork? Bitmonero had a clean launch and has decent economics. True it didn't launch with a GUI but the reward schedule on it is so slow there is really no harm in releasing those soon. Less than 0.1% of the coin has been mined; it's essentially still in launch phase. There are a few things I would tweak but its okay and not worth another fork. There are a few of us talking about renaming it and improving the marketing a bit without making any other changes. That has a better chance to overcome BCN's lead than throwing a million new forks out there (Honey Boo Boo coin, etc.). |
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just want to be clear are the offers at the top to buy or sale?
Edited OP |
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Any CPU only coin is useless. Just a get rich quick scheme for botnet owners controlling 50,000 computers. Either the algorithm has to be changed, or it has to go myriadcoin style somehow.
I mined BMR on day 2 and got 0. God forbid someone tries to CPU mine it a month from now. Coin is dead in the water until it's not CPU only.
lol |
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That only proves later than a certain date, it can't prove earlier. They could have recorded a markle hash of their block chain into a bitcoin transaction at some point back two years ago if they wanted to prove earlier, but I doubt they did. |
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Why BCN block is about 2 years old and CryptoNote white paper is dated October 17, 2013 ?
1. The dates in the block chain are fake 2. The paper was written after the code You decide. |
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Check your email spam folder?
Checked, nothing there. None of the old ones (when it was working) ever ended up in there either. |
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I received a bid by PM. I'm not sure but I think the intent of the bidder is to keep his identity private. It is a credible bidder with whom I've traded before.
New high bid is 0.1
Winning bid. Sending PM to the winning bidder. |
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Less than 5 minutes left. High bid is 0.1 btc for 2.5m BCN
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Any idea why I stopped getting emails for new PMs about a week or so ago? I've toggled the setting, reset my email, no change.
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Lol, and then people claim that bitcoin will fail because it is too confusing. Is it possible to invent a simpler global monetary system than bitcoin?
It may not be. Globally coordinating anything is hard. |
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... we can provide that as well on our totally not non-existent website.
Thanks for the tip. Yeah, this coin release feels a bit rushed, like others have mentioned. Seems some botnet has moved in too, given how high the difficulty is :/ Thank you Mr. Botnet for helping us secure the block chain. |
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I'd add one more thing about "early adopters" getting free money on BMR. It isn't really happening because the reward schedule is so slow. This coin will be generating similar reward blocks for years. This is not the typical instamine situation where early adopters grab up a lot of easy coins on the first day. Very few coins were mined on the first day. There will be early adopters on this coin for years to come, if it survives.
As someone else said (not sure if it was this thread or the other one), BMR had (and is having) a really clean launch.
If BCN supporters want their coin to win, they're going to have to do it on the basis of the coin having a well-developed community and infrastructure. So far I don't see it, but who knows what is lurking in the dark web? I don't.
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very cool, I have some agreements on some trades and tomorrow I will try to run them through you if the buyer agrees, I like the idea of escrow, and I think the buyers will as well.
It would be nice to get a going rate per BCN to BTC to get a baseline. I have several million BCN for sale, would like to fulfill several of the buy orders on the current spreadsheet but have not been able to get any response.
I intend to keep my order book "clean" in the sense that if people don't actually respond the orders will be removed. We'll see how it works out. |
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Oh, folkes.
That's so weird to tell about BCN "pre mine" and BMR no-premine as its advantage. You know, people who will find out BMR much more later will say that you premined BMR. Just because they will be late for low diffs.
And they will think it's unfair distribution, because you have coins and they don't. As you do it now.
People will start to do their own "fair" forkes. As a result we will have hundreds useless coins as Bitcoin's ones. It's so stupid and irritating.
I mostly agree with this, but the situation between BCN and BMR is pretty different from BMR vs future clones. Bytecoin was deliberately hidden for almost two years. BMR, etc. are not hidden. Btw I offer not to call BCN situation as "premine", because it's significantly other situation.
I usually call it "premine" with the quotes because I agree it isn't exactly a premine. It's something like a typical premine, but not exactly. |
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I received a bid by PM. I'm not sure but I think the intent of the bidder is to keep his identity private. It is a credible bidder with whom I've traded before.
New high bid is 0.1
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