It was fun watching the price go up for awhile but now I get sad because I can't buy all those cheap bitcoins anymore.
Yes, you can. Bitcoins are still very cheap. Not really. 300 bitcoins is a young man's salary for the year. 300 litecoins is 1 or 2 days work. |
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- The hashing algorithm Scrypt makes it considerably more resistant against ASICs. - Faster confirmations. We live in a 'time poor' world, getting something done quicker is a definite advantage. - It's always good to have an alternative. Remember the bitcoin hardfork recently? If Litecoin stays one version behind Bitcoin we will have Litecoin as a back up and Bitcoin as a test network. - Competition is always good in economic markets - Gives people who missed out on Bitcoin early adoption a second chance - Ultimately, scarce things are given value by people. Litecoins are provably scarce and people are giving them value and creating services around them... at the end of the day that's all that matters.  |
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It looks like the difficulty retargetting algorithm will be updated at block 99988 in order to address the resonant difficulty changing we've been observing. This will be a mandatory update. I think that the block will be reached in about 4 days so I'm not sure how this change will be rolled out so quickly. Obviously, a few more eyes on this update would be a good thing. https://github.com/terracoin/terracoin/commit/300d6ac14fd5aaa6a71e14090fa72b1b1d029488So what exactly is the difference between Terracoin and Bitcoin now? The only unique thing it had going for it I can see is a faster difficulty adjustment, which turned out to be a bad idea. I don't think it was such a bad idea, just that is depend on a big enough network hashrate not to be abused  It's unfortunate and I think Terracoin will struggle to grow and probably shrink in the long run. If the difficulty of Terracoin is made more like Bitcoin I just can't see it being viable long term now because even a coin like Litecoin gets questioned what's different about it when there are obvious benefits to Scrypt and faster confirmations, so how Terracoin will stand up to such criticism I don't know. In my opinion PPCoin is the only legit alt coin left alongside Litecoin. But time will tel... |
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I'll pm you later about the other implementation, it's still FPGA and ASIC hard. I wish I had the time to work on it more or the money to pay a coder to implement it.
What makes you so sure it's FPGA and ASIC hard? |
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Nice chronological list.  |
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It looks like the difficulty retargetting algorithm will be updated at block 99988 in order to address the resonant difficulty changing we've been observing. This will be a mandatory update. I think that the block will be reached in about 4 days so I'm not sure how this change will be rolled out so quickly. Obviously, a few more eyes on this update would be a good thing. https://github.com/terracoin/terracoin/commit/300d6ac14fd5aaa6a71e14090fa72b1b1d029488So what exactly is the difference between Terracoin and Bitcoin now? The only unique thing it had going for it I can see is a faster difficulty adjustment, which turned out to be a bad idea. |
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Why is terracoin difficulty jumping around 3x back and forth? Anyone else see a pattern here? Looks like some big miners are exploiting the fast difficulty adjustment. I guess so much for the supposed feature 'miner jump resonance free'
Yeah unfortunately it looks like a failure of Terracoin that is being exploited. Terracoin or 'Terriblecoin'... |
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When will you guys start trading PPC on your platform? Or do I have to move my funds over to Neotrix's multi-currency exchange which is launching soon?
+1 Maybe we'll add Terracoin Market capitalisation of PPCoin is higher than Terracoin. Actually, market capitalisation of PPCoin is higher than Novacoin too. Could you not just try it out for a trial period? I hate having to transfer my coins backwards and forwards to different exchanges and more importantly, it would give PPCoin such a boost. PPcoin has huge potential that people haven't realised yet... it's transaction fees can remain tiny whereas with Bitcoin and other clones the transaction fees have to increase the more they are used by people. Something for you to think about  ok Woooo! Btw, PPCoin is the second most traded coin on Vircurex today |
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PPcoin also sitting at a very nice 161% profitability.
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Anyway, the LTC network is getting much more secure over the last month or two, I think by summer it should be very, very secure.
Litecoin is insecure by design. Its protocol has been purposely downgraded to be vulnerable to botnets. Scrypt hashing means that a single botnet can control the network and double spend. Don't you think all the users of these botnet infected machines will notice that 90% of their cpu is being used for something. Most botnets are for computationally simple things such as sending spam. So if you can only use a portion of the infected machines resources in order to avoid user detection, really you have multiply the number of machines you need by a factor of 5. |
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A post on Reddit alerted me to this. Difficulty will go from 4,847,647 to 6,434,210 in the next 173 blocks.
This is the biggest jump I have seen, presumably because of ASICs? Can we expect a small surge of disgruntled miners turning towards alt currencies like litecoin...
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I'm just thinking if there was more incentive for individuals to innovate with these alt currencies we would see a broader spectrum of coins. PPCoin seems to be the only coin that's tried to do something drastically different.
What would people think about a new coin where the creator receives a small percentage of all mined coins for his efforts? e.g 5%.
As a disclaimer, I cannot program and don't even fully understand bitcoin so I wouldn't be entering into such an endeavour myself.
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but that still doesn't give them an advantage over any other adopters.
It doesn't? So the 1 million coins that the first few hardcore miners mined isn't an advantage to say, you or I? By buying and selling bitcoins, we're making the first miners very rich. Sorry missed a word there. i mean the other EARLY adopters. |
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Financially, what do they stand to gain from all the long, hard effort they put into it?
I guess they can mine from day 0, but that still doesn't give them an advantage over any other early adopters.
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The total market value is the most objective indicator of size.
Bitcoin - 10,936,775
Litecoin - 112,605
Namecoin - 11,298
PPCoin - 3,646
Novacoin - 2,706
Terracoin - 2,478
Units in BTC. From dustcoin.com
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lol so funny how the NVC supporters brag about the price. How many users actually use NVC? How many buy stuff with it? How much average daily volume trades in NVC? Oh right...not a whole lot.
Price manipulation with little amount of users is easy.
If you don't know this then perhaps you need to be burnt on your investment before you will wake up.
I suggest you supporters buy NVC up to $5. Make the price go so high...because high price = success right? lol
Smoothie is right on this one. The market cap is tiny yet the price is higher than Litecoin? Something is just not right with NVC, it's a very fishy coin. Invest in it at your peril. There is a reason it's called the scam coin. |
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I trying solo mining.
You picked a winner son  |
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