bitcoin dying?
Bad day for bringing new investors, everybody loses on Alts when Bitcoin drops. |
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I just come back from the post office. The Mintcoin Bylaws are on the way to the French administration. It should have them by Monday. From then, it will take one month to have them accepted, registered and published.
This is history. First Crypto Currency backed by an registered NGO, a Real Foundation. |
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Im so sad i didnt get into this coin earlier. Really looks promising.
If anyone would be generous to donate a (very small) donation, i would greatly appreciate it!
BA5ysN85h1XQSdMtps3o6Z6LAyZwNq5FcX
Thanks!
I can donate you Mint  send me your address! |
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In reality, the biggest mitigating factor to this 'problem' with PoS coins and BC in particular - is market cap.
That's indeed a point that is also bothering me. If tomorrow somebody with a lot of money sees a threat in BC then currently he could easily just "pay the price" to destroy it completely. Then two things must occur... 1) Enough of us who believe in the coin have to liquidate 100% of our BC to help them... the entire order book on all 3 main exchanges dealing with BC would not be enough for this...  2) Secondarily, as there is nowhere near enough liquidity for this... the price would absolutely skyrocket... as all sells would be immediately absorbed including those that are stratospheric (like 5BTC/BC or some other crazy price). This would immediately push the cost of monopoly to much, much higher than simply ~$1M - probably closer to ~$20M in reality. 3) This person has to have no other purpose in life other than destroying BC... although I'm sure such people exist... and probably in a pretty decent quantity... I can assure you that someone that hung up on a single crypto currency's life or death is not the kind of person to control that kind of net worth. So I understand that either you are genuinely worried about this aspect for your personal holdings' sake - or you are simply trying to 'rebroadcast' the only downside you could find as it relates to PoS coins and BC in particular. Regardless of your motivations, rest assured that these are irrational concerns... and merit much less fear and concern than things like government regulations, disreputable vendors, con-artists, etc. These are all much bigger risks - not to BC alone, but all crypto currencies combined - and they take only a handful of immoral individuals or bureaucrats to succeed. Cryoptorush guy??? hehehehehe XD hes got a reason. |
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about security: could someone explain how we could be hacked ? (pos) I know ppl have to have wallets opened, but how many coins/ppl/whatever ?
Technically you need 51% of all blackcoins to perform a hack in terms of double spending etc. Theoretically the required amount of coins is smaller if an attacker is able to precompute the chain, but this is open research afaik. 20% is enough to do double-spending attacks from time to time (like once per month) with no direct costs. 20% of active stakes at the moment off course, less active stakes, less security, less interest make less actives stakers http://www.reddit.com/r/Bitcoin/comments/22aw8c/most_altcoins_are_not_secure_enough_they_exist/Well this comment was related to PeerCoin and the actual statement is: 20% is enough to do double-spending attacks from time to time (like once per month) with no direct costs.
I haven't done analysis on 51% attack on ppc, and I really doubt 20% will be enough.
I don't want to say that you are wrong, but want to stress that these topics are very hot (and interesting) and not completely understood yet [edit: by the larger audience, brains like rat4 surely have a better understanding]. Thats Right, what make me think its that is only 20% of active stakes. On LOW REWARD POS, less people gonna be willing to active stake, Its just that in crypto security came from miners, less rewards to miners make less relaltive security I think that this can be a problem just like for Doge is (low early pow reward) that can be BC problem (using analogy) But unlike in Doge in PoS there is no real work that has to be done, so basically there is no reason not to stake as long as you have a device running that is able to stake. When did you switch off your mobile phone last time? Te reason not to stake is the LOW INTEREST!, the less that you get paid for doing something the less you are gonna do it. With a greater initial POS reward people will be more willing to stake their coins. On android always stacking will mean It will also drain battery LIFE (Not desireable) so people will shut it down most of the time. |
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about security: could someone explain how we could be hacked ? (pos) I know ppl have to have wallets opened, but how many coins/ppl/whatever ?
Technically you need 51% of all blackcoins to perform a hack in terms of double spending etc. Theoretically the required amount of coins is smaller if an attacker is able to precompute the chain, but this is open research afaik. 20% is enough to do double-spending attacks from time to time (like once per month) with no direct costs. 20% of active stakes at the moment off course, less active stakes, less security, less interest make less actives stakers http://www.reddit.com/r/Bitcoin/comments/22aw8c/most_altcoins_are_not_secure_enough_they_exist/Well this comment was related to PeerCoin and the actual statement is: 20% is enough to do double-spending attacks from time to time (like once per month) with no direct costs.
I haven't done analysis on 51% attack on ppc, and I really doubt 20% will be enough.
I don't want to say that you are wrong, but want to stress that these topics are very hot (and interesting) and not completely understood yet [edit: by the larger audience, brains like rat4 surely have a better understanding]. Thats Right, what make me think its that is only 20% of active stakes. On LOW REWARD POS, less people gonna be willing to active stake, Its just that in crypto security came from miners, less rewards to miners make less relaltive security I think that this can be a problem just like for Doge is (low early pow reward) that can be BC problem (using analogy) |
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about security: could someone explain how we could be hacked ? (pos) I know ppl have to have wallets opened, but how many coins/ppl/whatever ?
Technically you need 51% of all blackcoins to perform a hack in terms of double spending etc. Theoretically the required amount of coins is smaller if an attacker is able to precompute the chain, but this is open research afaik. 20% is enough to do double-spending attacks from time to time (like once per month) with no direct costs. 20% of active stakes at the moment off course, less active stakes, less security, less interest make less actives stakers http://www.reddit.com/r/Bitcoin/comments/22aw8c/most_altcoins_are_not_secure_enough_they_exist/ |
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why does the wallet keep going in and out of sync??
1.7 on Mavericks OSX
When do you updated the wallet? just recently? is you do so, you must backup first home Library/Application\ Support/MintCoin/wallet.dat Then erase everithing but waller.dat from Library/Application\ Support/MintCoin/ and wait a bit until the blockchain gets downloaded again, Stormia wrote a better guide some post earlier. If any problem, ask |
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Oh god, more fucking good news? How much can a guy take in one day!
Yes, folks, this just in: I spent last night and most of this afternoon talking with a young entrepreneur operating a health spa and personal-care shop in Ireland. The conversation started with some Bitcoin 101, then Altcoin, then Blackcoin. By the time I was half-way through Blackcoin 101, she was pretty much in like Flynn. And then, voila, Coinkite hit and double-cinched it. I installed her first wallet via Teamviewer and sent her a welcome gift of her first crypto ever. Her products are classy, all-natural creams, lotions, potions, aromatherapeutic candles and soaps (or should I say 'soeps'), and the like. In the days ahead I will bring her into the forum for an introduction to the community. We are still working on an altcoin ramp-up approach best suited to her product-line and clientele. She gave me a heads-up that her candle-business is booming, so that may be the initial testing-ground for BC. And by the way, she happily agreed to start with Blackcoin rather than Bitcoin, although she'll be integrating Bitcoin eventually. And she had no problem envisioning that being it, BTC & BC. (Sayonara Litecoin, we don't need ya no more).
So stay tuned, think about what kind of candles your girlfriend likes, and line up to make some purchases!
Kudos, thats the way of increasing the value of the coin. |
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The fact that holders of a coin "value" it in an affectionate sense is no substitute for such an economic role. There are plenty of POS coins out there that can substitute for Blackcoin. So at the moment I'm thinking that this coin's value is based on the multipool effect and some strong promotion. I'm not saying thats bad, I'm just saying it's *it*.
I couldn't find any decent PoS substitutes for BlackCoin. Peercoin - Don't like fixed 0.01 fee. NXT - Don't like fixed 1.0 fee. Faircoin and Mintcoin - You are penalized for sending and receiving coins as your coins have to be in your wallet for 21 days before you accumulate interest. MNT - Lose 20% the first year. FAC - Lose 6% the first year. Why can't there just be a normal PoS coin? There is one right now. It's Blackcoin. Low reward POS coins suffer the same than low reward POW, are less resilient to an attack. So FairCoin and Mint have something in favour. interes also make people hold LONGER, and this is desirable. I don't understand your first statement. PoW/PoS hybrid less resilient to attack? About Faircoin & Mint - sure there will be holders. I, on the other hand, will be swearing everytime I move my coins to an exchange and reseting my 21 day coin age on top of losing withdrawal fees. Those coins aren't for me, but if the price gets low enough I might look into investing them. Already sold all my MNT. Eyeing Faircoin. But doesn't that also bring up the point if you had fiat, BC, MNT, & FAC. What would you spend? BC or fiat of course The question after that is that good or bad?  No. Low rewards pure POS coins suffer the same problem than Low rewards pure POW coins. are less resilient to an attack than higher rewards ones. Why? Think a bit and imagine how POS work for mining. When you put POS coins on an exchange that doesnt mine POS the coin, you are lowering the total security in the coin Also if theres no reward for keeping the wallet open less people are gonna be willing to keep it open. less security. is just like POW only that mining doesnt requiere hardware but coins. Less rewarded coins will be in theory less secure, less pay asociated in securing the network, less security. |
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Just wanted to say a big thank you to the mintpal team for their donation towards Blackcoin's coinkite fundraiser: https://twitter.com/MintPalExchange/status/453891749157797888I clashed swords with the mintcoin dev a couple of times but this really does make me humble that they would donate to the competition. Thank you mintpal isn't associated with mintcoin in any way possible, the name just happens to be a strange coincidence mr_random is a well known troll, just ignore. We all know that Blackcoin is a master-scam as the creators instamined the entire money supply by renting hashpower over their 1-week distribution period and now they are manipulating the trading volume because they own 99% of the money supply. Of course mintpal get's benefits from this and is making a lot of money from them due to this volume. How exactly does Mintpal get any benefits from the success of Blackcoin? That confuses the hell out of me. Yes, I am a holder of Mintcoin. No, I've never owned Blackcoin. Just curious what that statement means. Mintpal not equal mintcoin its just a nice coincidence in name, they are not related (i think that this is whats confusing you) |
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The fact that holders of a coin "value" it in an affectionate sense is no substitute for such an economic role. There are plenty of POS coins out there that can substitute for Blackcoin. So at the moment I'm thinking that this coin's value is based on the multipool effect and some strong promotion. I'm not saying thats bad, I'm just saying it's *it*.
I couldn't find any decent PoS substitutes for BlackCoin. Peercoin - Don't like fixed 0.01 fee. NXT - Don't like fixed 1.0 fee. Faircoin and Mintcoin - You are penalized for sending and receiving coins as your coins have to be in your wallet for 21 days before you accumulate interest. MNT - Lose 20% the first year. FAC - Lose 6% the first year. Why can't there just be a normal PoS coin? There is one right now. It's Blackcoin. Low reward POS coins suffer the same than low reward POW, are less resilient to an attack. So FairCoin and Mint have something in favour. interes also make people hold LONGER, and this is desirable. |
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I'm a BC holder trying to protect their investment. I've been in and out of this coin for weeks and happen to be in at this moment in time - no thanks to some of the koolaid drinking hysteria I read on here. Just because I don't go along with prevailing mood of the moment doesn't mean I don't have an interest. I've just done enough of these ventures to know that I'd rather get to the bottom of what I'm really invested in that kid myself I'm on an express train to my own private jet.
I don't mind seeing my investment go down if I know why I'm invested.
In fact I'd rather see it go down for genuine reasons such as profit taking than read reports of blatant price manipulation like the kind of stuff you seem to be getting up to. Doesn't matter what direction it's in.
I have been in this coin early on and never been out. I never sold... You are entitled to your opinion and whatever feelings you may have. However, you not mind seeing your investment go down is not the sentiment of the entire community. You remind me of someone else who posts self fulfilling nonsense and then try to pass it off as for "best interest of the community". I must admit I am getting a bit annoyed by the small group of people here who are very "vocal" but do not contribute anything by helping this coin grow. You and a few others just sit on the sidelines and criticize everything everyone else is doing but do not bring anything to the table. YEAH!! shure he is another Mint fan spreading FUD! |
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we still have a powerful ally ! www.Blackcoinpool.com Scrypt: 3119.97 MH/s | Sha256: 28.59 TH/s Miners: (Scrypt: 736 | Sha256: 123) growing a bit every day, I remember when it could barely get 200 people. now its close to 1000. Time to move those rigs over. 3 day actualized data from http://poolpicker.eu/0.00435015 x MHS CoinShift 0.0034 x MHS hashCows 0.00331 x MHS on blackcoinpool Profitability is coming down with the price. BTC profitability depends on the average BC price and standard deviation of the BC price during the 24 hour period. It was so high in the first evaluation because the BC price was rising during that time and therefore had a large standard deviation. People who mine for quick BTC on the BC multipool should always know that they bet on a rising BC price and that they will be penalized if the BC prize drops. People who mine for BC can even see something positive if the price drops for a day, because then they receive more BC Thats dangerous because it could bring a downward spyral on prices, and believe nobody want that. Less proffit, less miners, less buy support, rinse and repeat. |
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we still have a powerful ally ! www.Blackcoinpool.com Scrypt: 3119.97 MH/s | Sha256: 28.59 TH/s Miners: (Scrypt: 736 | Sha256: 123) growing a bit every day, I remember when it could barely get 200 people. now its close to 1000. Time to move those rigs over. 3 day actualized data from http://poolpicker.eu/0.00435015 x MHS CoinShift 0.0034 x MHS hashCows 0.00331 x MHS on blackcoinpool Profitability is coming down with the price. |
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Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.
The market can stay irrational longer than you can stay solvent. The amount of stocks that I have bought that dropped on good news is laughable. But in the long run things were good. The market can stay irrational longer than you can stay solvent. The actual statement is that, in a crisis, "markets can remain irrational longer than you can remain solvent." In particular, Keynes was referring to stock market crashes, frequently resulting from panic selling. Asset bubbles consist of wild speculation in stocks, real estate or other assets (in one case, tulips). The assets rise in price far more than is justified by any rational economic analysis. At some point, the bubble bursts, and investors engage in panic selling, which is equally irrational. As a consequence, prices of that asset then fall far below the rational price Thats what you think is gonna happen? Yes, just after we go to 100,000 satoshi. Well that will be irrational jajajaja XD |
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Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.
The market can stay irrational longer than you can stay solvent. The amount of stocks that I have bought that dropped on good news is laughable. But in the long run things were good. The market can stay irrational longer than you can stay solvent. The actual statement is that, in a crisis, "markets can remain irrational longer than you can remain solvent." In particular, Keynes was referring to stock market crashes, frequently resulting from panic selling. Asset bubbles consist of wild speculation in stocks, real estate or other assets (in one case, tulips). The assets rise in price far more than is justified by any rational economic analysis. At some point, the bubble bursts, and investors engage in panic selling, which is equally irrational. As a consequence, prices of that asset then fall far below the rational price Thats what you think is gonna happen? |
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Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.
The market can stay irrational longer than you can stay solvent. KEYNES!!!!! |
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This is not a coincidence...someone is sabotaging BC for whatever reason.[/b]
It's more likely to be a large holder waiting for sufficient liquidity to be available for them to cash out. These alt coin markets are tiny. Look at the order book. It's all decimals of BTC that are on there. There's no liquidity to speak of - unlike, say BTC-e Bitcoin and Litecoin markets. That's why exchanges like BTCe don't bother with other alts. the volume in the mainstream coins is huge - pros that trade 50-100 BTC at a time. If you have even 1 large holder who has a lot of BC wanting to profit take, you'd see exactly the pattern you've observed: wait for liquidity to emerge, cash out a load, then wait another 10 hours or so for the bid side to "recharge" itself, cash out again, rinse and repeat. I don't think there needs to be any conspiracy associated with it - and even if there was, they'd still need to have the BC to be able to place the order s there's no material difference to what I've just described. There are 75 million BC's in circulation. That is quite a large amount. It means that BC is already at a tenth of Peercoin's price corrected for coin supply. So even if it got to Peercoin's valuation it would only be a tenfold gain from here whereas the buy in required would be many hundreds of times the buy in that was needed to get this far. Taking all this into account, it's not a bad point for a large holder to "get off the bus" since they could take the view that there's more chance of it going down than up from here. THat's what's behind those big sellwalls. Think of a funnel with the hole plugged. It takes only 10 cc to get a 5 cm rise in water level but a 100cc to get the next 5cm rise. That's where BC is right now. +1 I agree, thats exactly my analysis. |
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36 BTC Wall @ 9900 sats  Some people here think I was BSing about "Wall Street Associates" (Not you). Let me explain what has been going on for 24 hours...We would have been above 10,000 since yesterday but someone kept pushing us down. I said it was happening at the time..some people thought I was "paranoid". Early this morning there were organic attempts to get BC above 10,0000 again, and with every attempt it was pushed down. I started noticing someone trying to push us below 9000 this morning so I had a 22 BTC buy floor established. So at 4:45PM EST today another attempt to push BC above 10,000 started, and as soon as momentum started the 36 BTC wall appeared out of nowhere. This is not a coincidence...someone is sabotaging BC for whatever reason.I think you're off on this one pal. Don't try to analyse "walls" in crypto it will drive you mad. + Remember not every wall is a fake or an attempt at manipulation. I've put up a lot of genuine walls in my time (not in BC though). So Ramdom do you agree that market is what is bringing down the price? I agree that Mint has suffered another crushing day and I feel sorry for bagholders like you who keep trying to spread obvious FUD in the blackcoin topic  Ps. Mint was premined by the dev and such coins never succeed in this community. ...13 sat is a bad day ... Back to BC... I have been watching Mintpal for nearly 24 hours. I am wired on coffee...I am positive something fishy is up...watch the push that is happening... You need to rest, Roma doesnt got build in a day. its not a tragedy is we don't get to 10.000 today. If you percieve something fishy remember that you judge for what you know. Regards @gonzoucab |
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