Someone pointed out in another thread that these chain-hoppers screw themselves as well as everyone else, because if they were careful not to throw "too much" hashing power on a chain they could milk it of many more blocks than they can if they stick its difficulty as high as possible as fast as possible then leave.

I do not know though if the writer was correct. The idea was theh igh difficulty was lowering the total number of blocks per hour or day or whatever so much that there would have been many many more blocks to grab in that timeframe by carefully ensuring the difficulty did not rise, or only rose minimally or something like that.

Jump in fast, grab 100 blocks in ten minutes, no more blocks for a month, versus jump in less precipitously, get 100 blocks or more per day for a month, kind of concept.

Maybe they just didn't do the math and the total blocks the chainjumpers get is the same either way?

-MarkM-

Oh clever I wondered how you planned to work-around any trademark problems the Nightmare on Elm Street people might try to suppress/harass you with.

-MarkM-

At least ten million got sold off by CPU miners, that did make quite a dent in the price but it still hasn't really crashed it maybe has merely found its price now that many or most large holders are people who bought them not people who mined them. Heck most BBQcoins whether large or small holder are bought BBQcoins now.

Allowing small miners years to accumulate coins seems to maybe be a more stable setup than these recent pump and dump coins, maybe? Maybe people who spent long long time slowly accumulating their stash are less likely to dump it all at cheapest price the moment an exchange opens?

-MarkM-

There are coins that can currently be mined nicely with a CPU, however that is because botnets and GPU miners are ignoring them. Basically they are working simply by (un)common courtesy, basically throw a core at each, compare your take with number of nodes, if it looks like everyone else must be using two cores or have core on average twice as powerful as yours throw another core at it.

This is what worked last year for a year or so with BBQcoin to allow small miners a whole year to accumulate coins slowly politely but surely at minimal cost in electricity that led to them all getting very nice payoff when enough people had enough coins saved up to make bringing it back into the limelight worthwhile. (GPUs then jumped on, difficulty went beyond what CPUs could reasonably mine but high enough for exchanges to risk listing the coin, the CPU miners got paid off handsomely or still have nice stashes of BBQcoins they are still holding or daytrading or whatever.)

-MarkM-

Sure, and that is reflected in the number of connections you get with them, which likely also correlates somewhat to the number of people mining them. Maybe one core could get a larger fraction of all the Tenebrix that will be left once Lolcust destroys the pre-mine than it could get of all the Fairbrix that more people are pointing CPUs at. Though larger miners, who have two cores not just one, don't have to put all their cores in one basket, they could throw one core at each if they chose to do so.

-MarkM-

Yeah he was maybe kind of trying to force mixing on everyone, even though evidently only a minority, maybe even only a very small minority, want such a feature. So not only centralisation but central planning maybe, lets make everyone pay for a feature only some people actually want.

But hey, small miners have to take what they can get, only a few coins are low enough difficulty to let a small miner get a nice fraction of the coins, and usually only those that are not in exchanges or, if in exchanges, are extremely cheap to buy (in which case maybe a small miner might buy some instead of mining some, thus conserving the small mining capability for coins one could maybe get a larger fraction of by mining than one could buy cheap of the ones that are on exchanges but cheap).

-MarkM-

Good idea. supposedly it was 7 million and reserved for use in a mixer that never got built so it shouldn't really have gone much of anywhere yet.

-MarkM-

Premines can be destroyed, as novacoin showed.

Lolcust was planning to do that last time I checked, which is a pity considering that seemingly nowadays it has been learned that premines are essential in order to finance important infrastructure to make a coin a success...

Basically it could be a chance to test the theory that good can be accomplished using a pre-mine, without actually going out and creating yet another pre-mined coin; a huge pre-mine already exists, lets put that to good use before cluttering up the scene with yet more pre-mines...

But lolcust might well just destroy it, what a waste if it is true that pre-mines are so useful for creating infrastructure...

-MarkM-

Interesting question, i suppose it mostly depends on whether people create pull requests when they adapt such explorers to more coins so that the main source repo of the explorer thenceforward contains the support for the added coins.

If so then presumably there is an explorer and its one of the normal explorers anyone can grab from github or whatever to run at home or put online for others also to access or whatever they wish.

if not then maybe it is lost code or sitting in the backups of someone who made such a thing but failed to get it pulled into the repo it was derived from...

-MarkM-

By most valuable, do you mean as in how much one coin costs, so that one "bitbar" coin for example costs more than one "onecoin" coin?

Or do you mean "market cap", as in how much for the number of coins currently existing multiplied by the price per coin?

Onecoin is of course an odd case since its market cap will be less than the price of a single coin until its entire coin has all been minted...

-MarkM-

But again. hence altcoins that cannot be merged mined with bitcoin...

-MarkM-

Hence altcoins that cannot be merged-mined.

The blockchain security more powerful than the world's supercomputers is totally bypassed, and as many scamcoins as desired can be taken over at will.

-MarkM-

That depends on how they or whoever else define "bitcoin".

They could try to take over the trademark, define the word to mean whatever, have you read Orwell's "1984"?

The CIA could activate the alien implant they implanted in Gavin's brain, and those that he and they implanted in the brains of other core developers, to have what the public thinks is 'bitcoin' do whatever, maybe.

But so what? We can record the block number beyond which the blockchain is corrupted by alien implant suggestions and continue on using sneakernet, blocks might take a long time to arrive by sneakernet but maybe that would lower difficulty enough Rainman could compute them for us with paper and pencil.

Maybe I should buy shares in various aluminium companies, since maybe most people will be investing in tin thinking tinfoil hats are made out of tin? Hmm but wait, that maybe means I should expect tin to go up just from that powerful name, tinfoil, used for aluminum foil? Hmm...

-MarkM-

EDIT: OMG that is the plot! Only tin blocks the mind control rays, aluminium lets them pass or maybe even amplifies them! They make tinfoil hats with aluminium now to make them NOT WORK!

Wow, is that really you or has someone hacked your account? Quick call an ambulance, it sounded like something he typed made sense!

Yes exactly, blockchains are insanely expensive, Ripple and possibly some kind of proof of stake can save millions or billions by not having to give over 100% of the currency to the printers/transmitters.

(Over 100% as in, they get it all when its printed then they get fees every time it is transmitted.)

It is almost insane to be backing coins someone else printed. Like what the fuck, let the printer back it himself, if he refuses to buy it back for close to what he sold it for then don't value the crap he prints because he himself doesn't value it enough to let you return it to manufacturer/printer for refund (minus a slight restocking/handling fee probably).

No one is going to dump at below face value IOUs they plan to honour at face value or above except in certain very limited / circumscribed circumstances. all this dumping happens because the printers have no intention of honouring the coins they are printing.

So it makes no sense to pay them to print them, you'd be paying them to print crap or paying them all the wealth with which you plan to back your IOUs for the job of printing your IOUs for you.

The "innovation" the Brits, Canucks, Martians, General Mining Corp, General Retirement Funds etc players came up with was simply to put aside as "reserves" anything they were able to sell their coin for.

Like oh I sold a coin for a dollar, cool. I now have a dollar in my warchest so I can buy a dollars worth of my coin, aka i can back a dollars worth of my coin, aka my currency now is backed by a dollar.

It seems to have worked well for them so far, and saved them millions in miner cost that trying to back coins printed by third party miners would have cost them, bleeding their reserves away because miners dump instead of accumulating all things that they buy with their coins as backing for backing their coins.

-MarkM-

Okay thats a gimme, yes Jesus was a communist, his early followers were a bunch of commies, i have even heard rumours its possible one or more of the communal communities in modern Israel in the last century (haven't heard updates into this century) might have been communists.

All totally unlike all the totalitarian/fascist/whatever animal farm weirdoes that pretended to be commies behind the iron curtain and all that totally specious crap.

There hasn't been any large scale organised communism at any time in history, has there? Christians tended to lose it by the time they turned into organised religion instead of small underground groups of commies?

-MarkM-

Don't bankers care about security anymore?

Are they going to deploy massive GPU farms to try to secure scrypt based coins, or merged mine with ASIC farms to secure all the chains they create ETFs for?

Remember a secure chain needs to have at least double the hashing power that the entire rest of the world can muster, so that even if everyone who is not mining it attacked it the attack would still fail...

-MarkM-

Maybe its that budget unspent catch, if they don'/t blow their budget of billions buying up crapcoins and instead spend $20 * 300 or * 3000 to create 300 or 3000 new ones, they won't have used up their budget so won't get a full budget next year?

Nah, still makes no sense, they could create 3000 new blockchains at $20 each then blow billions buying the actual coins on those chains from miners to pump them...

Notice though that for a long time now the coins that moved AWAY from blockchains have been worth much much more (see http://galaxies.mygamesonline.org/digitalisassets.html) than those that stayed with blockchains, presumably because of "miners dumping coins syndrome". (Backing coins some third party miner mints is insanely expensive compared to backing coins you minted yourself...)

-MarkM-

I0Coin is IXcoin with 0 (zero) pre-mine, supposedly.

Litecoin is tenebrix/fairbrix updated to be based on bitcoin code instead of multicoin code.

Tenebrix had 7 million pre-mine to allow a massive massive super-laundry for laundering (mixing) coins. Fairbrix is Tenebrix without the pre-mine.

-MarkM-

No no you missed the important part... the "by Vlad" part...

-MarkM-

Vlad, do you have two CPU cores? Is one of them pointed at Fairbrix and the other at Tenebrix? Or are you currently still CPU-mining primecoin efficiently enough even at its current difficulty that your CPUs are currently busy mining that because it is more profitable?

The time window seems to be closing for mining those two coins with a single core actually if you count your connections and figure out what fraction of the day's blocks your core gets, it kind of looks like the escalation has begun, people seem to be using more than one core now. But maybe that is latecomers, figuring they missed so many months that they need to throw more cores at them to catch up with the people who were doing it all last year alongside BBQcoin.

Those are the kinds of opportunities you might maybe be able to benefit from, not grand notions you lack all the technical skills to accomplish.

Lolcust has been discussing for years what exactly to build into Tenebrix for its big re-launch, its coming back out into the open, have you been in touch with him at all, maybe you are more up to date than I am on what the latest ideas/plans there are? Maybe you are one of the people throwing more than one core at it and have been racking them up the whole 3 months you have been around?

If the community is not even able to maintain the coins it has had all along, then regardless of whether some ingrown group that focusses on one particular new scamcoin manages to keep its one coin up to date the general failure of the community in general to maintain long term is not going to look good.

So how about stop throwing in your lot with the pump and dump scam crowd and get involved in the long term nitty gritty stuff, the maintenance and promotion of the legacy coins we have had all these years...

You should read that reptilia guy's diary thread too, it is amazing but also possibly a little instructive. Great ideas. Well maybe except when the "supernode" concept that started out as a data-and-business centre that could run entire coin networks and exchanges for them etc devolved into a roleplaying game of manic megalomaniacs throwing bitcoins around like water and not actually as far as I could see setting up permanent nodes / datacentres at all...

-MarkM-

P.S. Tenebrix has 7 million coin pre-mine lolcust plans to destroy, maybe you can come up with awesome uses for such vast amounts of coins so that it need not be thrown away but can instead be used to make the re-debut of Tenebrix into the limelight the event of the year whichever year it ends up happening...

P.P.S. i guess maybe I should try to get back to ensuring http://galaxies.mygamesonline.org/latestrates.inc gets updated more often that it lately has been...