Why is nothing happening? Overstock not enough to take us back to >1000? WTF?
People buying stuff on overstock will increase selling pressure, because the coins are immediately sold for fiat via coinbase.
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So tell me again doomsters, you can't actually spend Bitcoin on anything? Just listen to the silence.
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If these arse-holes had a fucking brain they would self limited their hashing power to a sensible number like 35-40% of the network to ensure we don't have a problem like today as they creep onto 50%.
IMO any single entity controlling > 1% is a concern.
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About GHASH.IO/CEX.IO anyway, I am not sure they will be wise enough not to do anything in order to avoid screwing up the system, did you forget about this?
Yes, I agree, but what happens if a malicious person hacks in and take control of the hash power? Having so much hash power in one centralised place is an extremely bad idea in every situation.
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This is the reason everyone should be using p2pool.
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While the topic is important, you may want to read up on how double spending works.
Also 50% is not some magic number. It is quite possible to successfully double spend with less. After all, finding blocks is random.
Really? I was always told that 51% was the "magic number" for double spend. Anyone else confirm? Yes this is true. I did see a spreadsheet once where someone worked out the percentage chances of executing a successful attack with say 40%, then 35% etc.... I can't find it now though. This is why everyone should be using decentralised p2pool, not centralised pools. IMO centralised pools are a massive risk to the whole network.
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But there's nothing they can do, other than accept it.
Chinese government has done a pretty good job of not accepting it. Any over government can easily follow suit.
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No.
Tenebrix --> Fairbrix --> Litecoin
Tenebrix Genesis: Thursday, September 8th 2011, 08:16:17 (GMT) Fairbrix Genesis: Sunday, October 2nd 2011, 04:31:18 (GMT) Litecoin Genesis: Friday, October 7th 2011, 07:31:05 (GMT)
There seems to be this idea around in the altcoin community that Litecoin was the first scrypt coin. It wasn't.
Thanks for posting this. I am happy that I had sold off 95% of my LTC holdings earlier. It doesn't matter of course. I'm just debunking this Litecoin was first scrypt coin myth that's all.
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Premine
Fail
?
What's wrong with that? Don't the developers deserve some piece of the action?
Because if you pre-mine your creating the coin for your own financial gain, not because you want to create a coin for the benefit of the community. Why should he create something for your benefit? Does your paycheck go to you or someone else? People should invest in an idea because it solves problems in a superior fashion, not because it benefits "the community". Socialist drivel. Because if it's pre-mined it's not for our benefit is it. It's purely for his financial gain, and exists for no other reason.
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So is China going to ban all CPU's, GPU's and FPGA's as well? I think not.
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bitcoin and litecoin are they only two coins which will go mainstream , all the other crapcoins are scams.
Really? But if Litecoin was originally cloned from Fairbrix. How can Fairbrix be a scam and Litecoin not? I think you got your order of operations mixed up there. No. Tenebrix --> Fairbrix --> Litecoin Tenebrix Genesis: Thursday, September 8th 2011, 08:16:17 (GMT) Fairbrix Genesis: Sunday, October 2nd 2011, 04:31:18 (GMT) Litecoin Genesis: Friday, October 7th 2011, 07:31:05 (GMT) There seems to be this idea around in the altcoin community that Litecoin was the first scrypt coin. It wasn't.
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Think outside the box, it wasn't a ponzi. Hint: the name.
Why would you call it "Dank Ponzi" instead of "Dank Bank"?
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What other methods would you envision to compensate the developers and early-adopters?
None. Satoshi has done 99.99% of the hard work for you anyway.
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“I don't know what my IQ is. People who gloat about their IQ's are losers” - Stephen Hawking , December 2004
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bitcoin and litecoin are they only two coins which will go mainstream , all the other crapcoins are scams.
Really? But if Litecoin was originally cloned from Fairbrix. How can Fairbrix be a scam and Litecoin not?
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@hoffman - Is that you Dank logged in under a different account?
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We'll wait and see. I'm not going to hold my breath.
Hong Kong bans them in 3...2...1....
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Funding for community development
Is this the new way of disguising a pre-mine?
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Premine
Fail
?
What's wrong with that? Don't the developers deserve some piece of the action?
Because if you pre-mine your creating the coin for your own financial gain, not because you want to create a coin for the benefit of the community.
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