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Meh, I'd say the Chinese saw a small opening before the PRC Government would step in and decided to grab as many as they could. I had my suspicions early on that something like this would happen, to be honest.
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What right does a bank have to deny me access to exchanges? Since theres nothing illegal happening in my pov they dont have the rights to ban it in countries in europe or us.
China is different in the way that they are still trying to control the people, btc was a loss in control for them. I dont see that happening to the eu/us anytime soon unless they declare it being something illegal.
It's tricky. In china the government has more control over banking and they are able to tell the banks what to do. In the U.S. the government has less ability (and less motivation) to ban cryptos, but the banks may do it anyway to attempt to preserve their dominance within financial systems. But I think that while these are big issues now, in the long run cryptos will either succeed or fail purely based on their merits. At the end of the day cryptos are built upon the internet and the internet routes around censorship (in all its forms). A far more sophisticated version of local bitcoin/altcoin coupled with decentralised exchanges = far less vulnerable - let's get on with it. Some sort of third-party interface that allows for more fluid transfer between fiat and crypto currencies will be needed at some point to really get things moving, a bit similar to the system banks use to lock in an exchange rate and amount when someone buys something from a different country (i.e. someone from Europe buying from the US via their credit card). Anyway, hopefully this will help to kill off some of the useless clones going about, either through complete abandonment or by being subsumed through merged mining. |
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You'd need a game-changing innovation such as a Point-Of-Sale automated exchange that can be pretty simple to set up and use, a bit like how you use a bank or credit card to buy something overseas and the payment system in place locks in an instant exchange rate and converts it on the spot. Once the average person can utilise it that way, then the price will start going back up.
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DOGE is a piece of shit, wouldn't dare touch it.
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Sitting at around 178kH on autotune with the new version with my GTX 660, compared to 140 with optimised settings on the previous version and around 125 with autotune on the previous version. Going to put in the previous settings and see if it makes a noticeable difference. Edit: Sitting around 196kH with optimised settings, so it's approximately a 40% jump in output compared to the previous version. Very pleased with the performance.  |
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I'd say Brazil would also be worth watching for uptake of BTC.
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He's published his secret sauce. So let's race to integrate it - hopefully we can compensate for the last 3 difficulty increases  BTW: 1 LTC is too much of a donation to ask for with today's exchange rates.I need to update the readme file regarding this. Fair enough. |
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any progress on the optimizations the cloud miner promised to send us?
wanted to ask about the same ... keep checking his blog for updates. He's published his secret sauce. So let's race to integrate it - hopefully we can compensate for the last 3 difficulty increases Nice. I can then finish mining on Coinotron and send you a 1LTC donation finally.  |
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Once most of the coins that were mined cheaply a couple of years ago start to become scarce as more people start to hoard them (i.e. the Chinese and maybe Indians next), the price per coin will start to turn in favour of the miners. And as the difficulty gets much higher, then the miners themselves will be in a stronger position to influence an increase in price to offset their costs. It'll only be a matter of time.
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A fair chunk is in mining equipment which I bought with BTC, so it's a decent proportion.
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My prediction for the next year or so will be this: Coins that have some more tangible and more noble benefits such as assisting with protein folding or donating part of proceeds to carbon emission offsets or similar benefits will become more dominant and more pointless clones with no innovative features will die off, particularly as more people become wise to them and avoid them like the plague, no matter the marketing and hype that the developers will use to try and rope people in.
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I tend to look at my PPC wallet as a form of long-term savings account, with PoS minting as an incentive for occasionally unlocking my wallet and setting it to mint. The main catch with PoS is that the coins that were used to mint new ones temporarily become unavailable for a few hundred blocks or so, depending on the coin (PPC is about 520 blocks IIRC, not sure what other PoS coins are like), so if you need to spend them immediately after, that option is not available. Not sure if future Peercoin clients will enable an option to set aside a pre-determined amount to not be used for PoS, but worth bearing in mind nonetheless.
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OP could add a lot more coins to that list. Most alts should die in 2014, but i dont think FTC and MEC will be among them.
True, but there are that many though it'd take a while to list them all and the reasons why, hence I chose a few high profile ones to start the topic with and let everyone else add to it. |
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Gridcoin or Curecoin.
Wouldn't touch Protoshares with a ten-foot barge pole, the fundamentals of it seem highly questionable.
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My list
Terracoin: Poor market support, only really seems to be mined for speculative trading for other coins, has been the repeated victim of ASIC difficulty attacks, pretty much on life support now.
Megacoin: The hype surrounding it will evaporate as fast as a bucket of water in a hot furnace and will lose value fast, particularly as more people learn of its early questionable history.
Mincoin: With MCXnow on the ropes and no other major exchanges supporting it, will probably be taken out the back and shot.
Bytecoin: Pretty much dead now, but will have the final nail in the coffin hammered in soon.
Starcoin: Dead in the water at the moment, nil chances of revival.
Bitbars/CryptogenicBullion/etc: Seriously have nothing to add to the table apart from artificial rarity, don't even seem to be used for direct purchasing of goods or services.
Feathercoin: Locked into a battle to the death with parent Litecoin at the moment, but Litecoin's momentum will be too much and the death blow will be swift and brutal.
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Peercoin, followed closely by Litecoin and Primecoin, though Gridcoin and Curecoin might grow sharply on the back of those who want to contribute their processing power to more noble and altruistic purposes instead of just chasing speculative wealth.
I predict a lot of alts will start to die off next year and people will start to consolidate their holdings into fewer coins with meaningful and more original design purposes (i.e. Gridcoin with the use of BOINC and Curecoin with folding@home).
peercoin is centralized with checkpointing , its a fail . Only litecoin will see real growth in 2014. Not for much longer, supposedly with v0.5 of the Peercoin client. Will soar after that happens. |
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Peercoin, followed closely by Litecoin and Primecoin, though Gridcoin and Curecoin might grow sharply on the back of those who want to contribute their processing power to more noble and altruistic purposes instead of just chasing speculative wealth.
I predict a lot of alts will start to die off next year and people will start to consolidate their holdings into fewer coins with meaningful and more original design purposes (i.e. Gridcoin with the use of BOINC and Curecoin with folding@home).
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The only altcoins I can see that could serve a genuine purpose, or offer something different to Bitcoin would be Litecoin and Peercoin, and potentially primecoin. Why Litecoin? When introduced, it offered nothing to the cryptocurrency world that had not been done before. (My point is, look how Litecoin has succeeded, even though it was just a repeat of what had been done before. Think about what that could mean for the current coins out there now.) It wasn't the first scryptcoin? (I really don't know) Correct, it was not the first. Unfortunately I've lost my reference to what came before that used Scrypt, but I read it here on this forum. Really our time horizons are extremely short, for most of us in this community: we do not know what came before and very quickly adjust to new status quos and start to think things have always been this way. The interesting thing is that Litecoin succeeded where others before it did not. It would be a mistake to assume that could not happen again. I believe Tenebrix is the first Scrypt coin you were thinking of. |
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Litecoin, Peercoin, Primecoin, Curecoin, Freicoin, Gridcoin and Anoncoin.
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