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Another vote from me to see XPM on btc-e.
Primecoin has been pulling in some large daily trading volume figures, btc-e must want some of that.
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I've been supporting and mining this coin since its release. 80,000+ coins/day is just going to make them less valuable, as nobody seems to want to buy them.
It's all miners who want to dump, and nobody else seriously wanting to buy. I wouldn't want to buy them either, especially after all the hype from btc-e, and nothing exciting happening in the past while. If it doesn't make it to another exchange, or devs don't make something new for it, it'll end up just like CNC. What ever happened to that DGC bank idea?
I'm working on it.  The rate might be too high and require an adjustment down. History will not look back kindly at digitalcoin if the dev arbitrarily decides to reduce the block reward to increase scarcity and please investors. |
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XPM/BTC |
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There's only roughly double Litecoins than Bitcoins in existence. So that would be more like $50 if they were both in equal demand. That is the big if. Coin supply is only half the equation, coin demand is the other half  |
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What Dan does not need is sycophants. You are useless and in fact detrimental.
The entire emunie forum is full of people kissing ass hoping to get crowned 'founder' status by Dan so they get given some of the pre-mined coins. Actually, the founders have pretty much been established... they were pretty lucky recruiting such a fine group of reliable people for beta testing. Course, if you are referring to people actually liking the dev, well then shame on us for being humans capable of emotions. According to the public forum the founders have yet to be decided. I stopped reading there regularly weeks ago after I got tired of Ecoinomist's thinly veiled 'I am a founder in the making and only those who make amazing contributions like me maybe deemed worthy of becoming one' posts on a daily basis. Well done Ecoinomist with what in my opinion looks like a shitty Internet Explorer logo ripoff. I'm sure I could become a founder myself if I beta tested more and kissed ass in the chatbox every night but some negative experiences there have put me off the community and I am pursuing my own projects now. |
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Nice post. |
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What Dan does not need is sycophants. You are useless and in fact detrimental.
The entire emunie forum is full of people kissing ass hoping to get crowned 'founder' status by Dan so they get given some of the pre-mined coins. |
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lol the announcement forked.
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Market cap is the best indicator apart from extreme artificial examples.
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Was this a fair launch or was the difficulty set low so people who mined in the first hour got a silly amount of coins?
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Is this really needed? Go make a Primecoin forum and post stuff like that on there. This just adds more cluttering to this subforum that already has a unbelievable high amount of XPM threads made each day. Nice post rethaw. Bodes well for Primecoin that after so little time it's getting media exposure already. Feel free to post another summary like that in the future. |
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^ Sunny has said previously that if the continuous difficulty adjustment responds too rapidly it can be exploited. However maybe he could increase it a little bit (50%?) without any harm..?
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There is some use to the data gathered for pure mathematicians (disproving conjectures, possibly discovering new patterns). In the same way you get programs online that allow people to search for higher and higher prime numbers (often Mersenne primes). It's usefulness is in a similar vein to those. The coin in itself will also strongly motivate people to write efficient algorithms that crunch through prime numbers, so a by product of the coin could be a breakthrough in that direction. A lot of 'pure maths' doesn't (yet) have any real world applications. Over the last hundred years though time and again pure maths that was thought to not be useful was later found to be ideal for solving a problem.
At the end of the day it's still primarily a currency, with 1 minute confirmation times. That's it's main purpose. But as a bonus, at least the proof of work contributes to society in some way rather than meaningless forgotten hashes.
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^ XRP is ripple guys |
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Schwede65 has no basis to declare there will be a single GPU cluster capable of 51% attacking the network. He's just doing what he only knows how to do, spreading FUD and attacking any coin he's not invested in... (if you don't believe me read through his last 100 posts here and see for yourself).
For all we know there could be GPU miners out there already. Lukejr and his friend seemed to imply they already have something working.
There is no evidence of a working GPU miner yet. And I think XPR could have a bright future. My point is just that the possibility of a fork due to GPU being VASTLY more effective then CPU in solving Marsenne prime (CUDA in particular) is real and it's not in the interest of anyone (except for the one being the first) to have massively cheap and controlled hash power. Unlike most prime numbers Mersenne primes have a particular structure to them which can be cheaply exploited. Are you aware that is the whole reason why the newest largest prime number found is often a Mersenne prime? Comparing to Mersenne primes is a worst case scenario. I cannot predict the future but my opinion is a 500 times speed boost is extremely unlikely, especially only after a week. |
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Schwede65 has no basis to declare there will be a single GPU cluster capable of 51% attacking the network. He's just doing what he only knows how to do, spreading FUD and attacking any coin he's not invested in... (if you don't believe me read through his last 100 posts here and see for yourself).
For all we know there could be GPU miners out there already. Lukejr and his friend seemed to imply they already have something working.
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The target amount of coins produced a day should be 10 thousand, which is only 300k per month.
When the difficulty drops to 2 coins a block the coins target per month will be much smaller than that still... 60k a month or something.
If demand is moderate it's going to hit high prices.
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What is to stop someone from the beta just posting it on the forum?
(people will find incentives to do this)
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A high rise in price like what is happening now won't be good for the coin. Its going to pop very soon.
Go ahead and dump while you can then, afterall you can easily mine some more, right?  -MarkM- Exactly, the only way to get XPM right now is to buy it. Unless you have a multiple computers you won't mine any. So if either gpu or a pool gets added for XPM people can and will mine it for themselves. Right now the price is high because there is a high demand for it and everyone wants a piece. When they are able to mine it people will start undercutting each other and fear that the coin will pop and drop a lot. I know its a bit of a weird comparison but the price for YAC coin went down dramatically when they released the gpu miner for it. I myself have quite a large share in XPM and not selling anytime soon because I think the coin has a lot more potential price wise then it is now. The difficulty will simply adjust as GPU mining happens with greater and greater frequency. GPU mining didn't kill Litecoin. |
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markm stomped this one down pretty hard lol
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