WDC had more votes and it has a bigger community behind.
I would be very surprised if Vircurex decided for DGC instead.
+1. |
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The free market? We are the free market. We as in if we form a syndicate and become a collective entity then we can vote in the free market. If we do not form any legal entity and do not have any mechanism to control the market or the hashing power or anything else then what are you talking about? Are you saying Netcoin should just be released and that everyone will stand back and watch? What I predict is that on day one it's going to be hit with so much hashing power so fast that it's not going to even be like what you expect.
We are talking 2014? So if Bitcoin is $1000 and the Bitcoin ATM's are starting to spread, and Litecoins are $50, and so on, and the market caps of these coins are in the billions or hundreds of millions, you're telling me they wont already be organized? If you go with GPU then you'll have to deal with the Litecoin community which already is organized and already has businesses with GPU's and FGPA's selling shares and going to the cloud. So they can just point all their hashing power at Netcoin and take it instantly before Netcoin can form an identity of it's own. If Netcoin uses SHA256 then Bitcoin with it's venture capital backed LLC's will swoop in and take Netcoin.
I'm not against the free market, I just don't think Netcoin is going to have it as easy as Bitcoin and Litecoin because when Bitcoin and Litecoin launched the majority of people did not know what cryptocurrencies were, venture capitalists weren't involved, billionaires like Bill Gates weren't taking notice. By the time Netcoin gets involved Bitcoin will be mainstream and Litecoin will be where Bitcoin is right now. Netcoin is going to have to compete with PPcoin for third place and PPcoin is starting to get organized and build up it's community which means Netcoin is going to have to start organizing right now or you're right it could be DOA no matter what technology it comes with.
Technology alone does not increase market cap. Hype, organization, and starting businesses around the technology is what increases market cap. So the time to hype and start businesses is right when Netcoin development begins and we know what the technology is. The time to plan to build Netcoin centric cloud based hashing rigs is now, because if you don't someone else will and I really don't see how you can stop the hashing arms race now that Moore's law has kicked in. The only solution I have is to organize it into syndicates, decentralize those, and then offer shares, so that even if Netcoin does end up getting swamped by hashing power, and even if it's a hashing arms race scenario, that at least you'll always be able to buy shares no matter how much technical expertise or money you have to spend.
+1. I hold similar opinions. I've been saying for a while, people here underestimate traction, user adoption and community support. Being the best technical coin doesn't make it a winner. Look at technological product battles in history, in fact quite often the best technical product didn't win... marketing and brand, user adoption etc were more important. This is also money we are talking about... if a true bitcoin killer came out using original ideas it would take years to reach the point where it reached the level of trust as Bitcoin... Bitcoin had to stand the test of time for people to slowly learn to trust it. |
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What does 4 times as many litecoins as bitcoins in the future have to do with the price of litecoins compared to bitcoins today?
The price is a lot more complicated that a supply scaling anyway but even if it was that simple it would be based on the current levels of supply, not the figure in 5 years from now or whatever.
As for the main point of your post, traction is everything. Bitcoin has built up an enormous community of support and won over countless companies and organisations. Litecoin is where it is now over the other alt coins not because of it's technical features so much but because it has gained a lot more traction than they have. You'll see that word traction used a lot in the startup community for small fledging companies trying to grow.
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I am not a fan of alt-coins but i 'm watching this.
....well, i've been watching for awhile now, just needs to be released, lol. I think we'll be lucky if it gets released in 2013. |
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It will be good for the economy if a flood of clone coins come on the market. Makes the unique coins stand out more.
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Did you compare the market cap or did you just compare the prices? There's 3 times as many world coins as digital coins.
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Since FIAT exchange is being offered, is this guy doing it by the book and running it a Money Service Business?
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It looks like someone has just taken the Twitter logo and tweaked it a little bit.
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Any idea why DGC is being dumped on Cryptsy when WDC and GCD are both rising? DGC is technically are more valuable coin than either of those due to the lower number of DGC being produced and in circulation.
Is this some kind of price manipulation?
WDC has greater community support. Hence why the WDC hashrate is much higher. |
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It's a bit lower but no way is it 60%. Not for me at least.
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It is indeed a shame bigvern does not place a registration cap on his pools, Paul of dontmine.me runs some of the most successful pools available and even he caps registration to ensure that his pool doesn't exceed 30-40% of network hash.
Combined with the fact that he is also operating an exchange, that he would take it more seriously.
It's greed. And he's been asked. |
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I've seen your many obnoxious comments on btc-e, cryptonit and mcxnow chatrooms - NO THANKS.
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^ says the guy who pumped YACs for days Makes no sense to add DGC instead of WDC, since WDC came first and is slightly faster.
On a separate note, expected trade volumes should be a factor for Kumala... in terms of how many BTC worth of the coin would get traded a day (that's where he gets his money from alongside withdrawal fees). That could make BTB a good pick since it had 20 BTC of volume yesterday on bter, putting it at the same level of trading volume as TRC for that exchange.
On the other hand, DGC's slightly slower block times greatly reduce orphan rates which lead to a more stable block chain without compromising the "instantaneous" nature of the coin. On a similar note, requiring 5 confirmations @ 20 seconds each rather than 4 @ 15 increases transaction security by about 50%. Additionally, it's lack of a premine period and perhaps the fairest start of just about any altcoin to date has prevented a few ultra early adopters from hoarding tens of thousands of coins which somewhat insulates it from massive dumps that other currencies have experienced that led to their downfall. Further, it has one of the most active altcoin developers of any currency on this forum...this is invaluable. I take the exact opposite view...I think it makes no sense to support a slightly inferior coin just because it was released a couple days earlier. DGC being 5 seconds slower doesn't "greatly reduce orphan rates". Everything in your post is FUD and hot air. The only difference between WDC and DGC is DGC is 5 seconds slower to confirm. And there will be 25% less DigitalCoins than WorldCoins produced. That's it. |
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Makes no sense to add DGC instead of WDC, since WDC came first and is slightly faster.
On a separate note, expected trade volumes should be a factor for Kumala... in terms of how many BTC worth of the coin would get traded a day (that's where he gets his money from alongside withdrawal fees). That could make BTB a good pick since it had 20 BTC of volume yesterday on bter, putting it at the same level of trading volume as TRC for that exchange.
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Hydro, you have to let the price settle. It's only been a few days at an exchange.
He thinks like this because he is clueless and wants instant gratification. PPCoin, Terracoin are two of the more established alt currencies... it took them many months to get to where they are now. PPCoin lingered at 2-4 cents for months as millions of coins were produced.. then it went up to 30 cents and then down to 15 cents and so on. Cryptos are volatile. The price will level out eventually where the demand meets the rate at which miners sell their mined coins. I believe in the need for faster confirmations and I am buying more when I identify a leveled out price point. The most important thing is building a community of supporters and believers. That is something Feathercoin did very well. |
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I'm a WDC supporter but OP doesn't have a clue how the crypto ecosystem works in connection with the markets.
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Just saying....
WDC has a block time of 15s and a reward of 32. So in 24 hours, 184,320 coins are added.
DGC has a block time of 20s and a reward of 20. So in 24 hours, 86,400 coins are added.
Now DGC had a fair launch. (Block rewards start off lower and slowly rise to the value they are now)
While WDC had a normal launch. (Initial miners get huge rewards)
WDC had a lot more coins when it was at the block that DGC is now.
WDC has a lot more coins right now compared to DGC and it's supply growing much faster than DGC.
Just looking at supply (and future supply) , DGC clearly has the upper advantage.
Only a matter of time until demand catches up.
The best part though is WDC still has a higher hash rate, secondly given the fact that it has about 8X more coins it's still more valuable than DGC lol. Whereas given to supply and demand DGC should be about 8X more in price. That is the best part but give it time. DGC has been steadily rising in Hash rate and WDC seems to not have many more buyers. This is a very flawed analysis. The number of coins produced varies with difficulty. Check the block chain yourself for WDC, when the difficulty was above 10 the number of coins produced per minute was 90 whereas it was 140 per minute when the difficulty was lower. Go look for yourself. DGC is a slower version of WDC and hasn't got any advantages over WDC. |
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It's a slower version of WDC. If you're expecting miracles with the price good luck.
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