I said a few months ago that with the incoming promise of scrypt ASICs that we will see an arms race of new algos, that scrypt would die off as a result.

My hypothesis was that if scrypt was created as an answer to ASIC monopolisation/centralisation of the SHA-256 algo, introducing ASICs would only serve to reduce the value of the scrypt algorithm. There is no point having two separate algos that fulfill the same purpose. I pity those who dumped money into preorders, which based on the press releases are still very shady, and probably won't be delivered in time to catch the support of the market. By the time they ship, it's highly unlikely that most scrypt coins (excepting LTC and perhaps DOGE, which will be hit by the manufacturers before they release the ASICs) will have enough buy support to enable a ROI on scrypt ASICs.  

If you look at the market caps of the top 20 coins (www.coinmarketcap.com) there are now only 4 scrypt coins, (all of which are dying at a rapid rate, with some suffering 75-80% losses). This is also partially due to the bearish (until a few days ago) movement in BTC, however, we have seen many, many large increases in alternative algo coins, e.g. DRK, BC, VTC etc. This is a transition of the alt market from scrypt to the alternatives. Many traders saw DRK as simply a coin being pumped by some behind the scenes. It has become clear that while it has been pumped, the market is shifting.

My further hypothesis is there will be some mixed algo coins that will get some attention in order to cater for new hashes entering the field. MYR is looking like a good buy at this point.

Is this the end for scrypt?

Mindless haha... you must have forgotten who had to explain to you why BTC, LTC, mining and altcoins were a good investment. But yeah, mindless... Right. You should call your twitter "Rupees Inc". 

I have moved on, I suggest you do the same.

Going with my gut? Like DRK?

Which I have timestamped tweet at 24th march. Cryptsy is a day behind due to time difference any buys marked 24th took place 25th our time. Don't worry, about the 20%

I'm posting on a public forum, it's not all about you. Get over yourself and stop with the threats. Try it and find out what comes back.

Oh I take responsibility. 100%. I only said I regretted believing a MRY sockpuppet instead of going with my gut. Still my fault, I just should have known better. Writing was on the wall.

Yeah, these modern day mystics are no different than the ancients believing they could read the future in the flames. Thinking candlesticks are all there is into TA is exactly the behaviour that creates MRY bagholders. Rats will drown... Horses... Moths will flutter into bugzappers. All sorts. Money will be lost. Some believe money is everything, but really, it isn't.

Indeed; as no one is forcing you to read my opinions on a public forum. I followed on misguided advice, regretfully, for the first few months. Now that its dipped into sub 500 sats, I checked in.

I wanted to post my thoughts on the coin as I mined early but expressed concerns that were ignored, which in turn appear to have brought the coin down. Who knows. It may bounce back someday.

I'd be happy to hear devs thoughts, out of pure curiosity, if he were present. If not, no bother, as I sold all during the hype months ago, and moved into a coin with promise and it paid off.

CC landscape has moved beyond what the devs had initially planned for. Market has moved towards a new algorithm arms-race in preparation for incoming ASICs. Its a different market now, a scrypt clone needs more to separate itself.

Devs not active enough. Coin launched too late. Writing was on the wall all along.

Glad I got out before it hit cryptsy! I suggest moving to something with true cause and innovation.

With all the tax implications being set in stone we'll be in a cautious bear market for some time yet. The greedy deluded "traders" will get stung badly, the articles of John Doe being done for blah blah tax tax etc will push people off. Endorsement from companies and figures carry much more liability now.

It was expected but itll slow price growth down significantly. I personally saw June/July for the next wave but now it may well be longer.

Being listed on cryptsy I think would be a better option to happen organically from the hype of the announcement than, as you say, throwing BTC at the voting system. Cryptorush is slow as is xnigma but I had no trouble moving multiple BTC worth of sell orders during the MZC explosion on cryptorush. And they had 1000s worth of volume.

I wasn't saying we need the announcement right now, I love these periods in mining and crypto. Its where the real stashes are made. Its just that with TAK and KOI going before it, the initial reaction of punters will just be hesitation. Just like new "national cryptos" now will not go 25-30x in value because people have been burned by AUR and MZC.

With sexcoin and titcoin I was merely saying that if people would buy coins based on purely what they're associated with they would be more popular. In the eye of the public, who don't dig through these threads, all it has going for it is the name as far as they see it. They don't see the potential (yet). Which is why there is no demand and no buy support (yet).

I do agree people do have a short attention span. A week in these markets is like a year anywhere else. It doesn't help that almost all of the community are here to make a quick buck.

I'm not poo-pooing MRY at all. Definitely want to see it come to fruition, and these periods in crypto are great for stocking up on the true winners while everyone else doubts. I only want to point out why (as I see it) its not doing anything at the moment so perhaps newcomers don't shit themselves and run for the hills.

MRY still needs a reason to be bought. Outside of "because its Bill Murray!", because that logic would put SexCoin or TitCoin above Bitcoin. It currently has little speculative value because the average punter sees no reason for it to go up in any sort of way.

I would see any announcement that would give it value or incentive to have far more priority than Cryptsy visibility. There are plenty of dud coins on cryptsy and mintpal.  Create the demand and it will build the community that will put it at #1 on the dodgy cryptsy "voting" system.

I don't say this lightly, I have enough MRY to crash it to 1 satoshi twice over on all the exchanges I know its listed on. I want to see the coin succeed on exchanges,  but it needs news first.

The coin having a similar fate to others (harshly undervalued) shortly after being listed is no surprise, and is exactly how I saw it going. The fact that there was 8mn ish coins mined before being listed anywhere public meant at least a portion would want to dump.

Anything copyright related or with possible legal issues (even though MRY doesn't, unless you dig through this thread you wouldn't know that) is avoided like the plague. There will not be decent buy support until this is widely and commonly known.

I personally love these times of panic and FUD. Its the best time to mine or buy. The longer the better.

While I agree with this, the buyers typically aren't that astute. They will just see it as AUR MK2. I can all but guarantee most of those buying won't know anything beyond "it went up because its going to be a national currency", however false that may be. China never truly banned BTC and watch how it sparked panic.

There are plenty of different alts I find do LTCs job much better than LTC does, but it had the advantage of being first. And in the current crypto environment first typically goes further as people are hesitant having seen the brutal crash at the top of the first rise.

This plays into MZCs favour as people will have the mental "top price" barrier for MZC as much higher than it truly should be were it any other altcoin. I would not be surprised for 0.0005 on cryptsy launch.

Over 1000BTC 24h volume and in the top 10 on coinmarketcap... If you think Big Vern and co wouldn't want their noodly appendages in that pie you are naïve.

I'm glad to have gotten some under 1000 satoshi, and even just the BTC I could spare from a few weeks mining that I put into MZC is now worth more than any other coin holding I have.

I am tempted to sell now, but I will be waiting for it to hit cryptsy and watching it double again. The mental barriers for "how high can a national sovereign crypto go and how quick?" (even though MZC and AUR aren't truly national currencies, that's what the people buying will and have believed) are well and truly down. People have seen aurora rocket to #2 and 1bn on the same premise that MZC has, and I have a strong belief they will buy it all the way to tens of millions of market cap.

The biggest mistakes I have made in crypto have all been based around assuming people won't buy dumb things. DOGE is an example of this.

This coin currently has a market cap of $8700US. 8700!!!! For it to have a market cap of junkcoin.... Which is not ambitious at all, even with twice the number of coins than is currently up to, it will have a value roughly 10-15x of current. If it goes to say copperlark or ixcoins level, roughly 50x. If it catches hold and goes really crazy... Wow.

You would either be mad or stupid to sell at 200 satoshi and below. This is probably the smartest buy and most undervalued coin on this forum right now. If you disagree please feel free to sell them to me at cryptorush.

Looking to sell some Murraycoins. I'm wanting to hold as much as possible but I would like to liquidate a portion to cover an incoming power bill. Living in Australia means 35c/kWh power. Which sucks. But it's an opportunity to get some cheap.

Selling in blocks of 10K, 5K and 2K. Current price on a private exchange is 0.00009XXX but I won't be selling at that price (if I sell it soon enough). Good chance to have solid returns as soon as it hits a public exchange.

For those of you not in the know, this coin has big potential, hence why I've been mining nonstop since I heard about it. It will not be a Coinye MK II being sold in the seedy back alleys of bitcointalk forums and fearing Kanye's... or Bill's, in this case, legal teams repercussions.

Please take a look at the housing price index in Australia... You will find it will make the graphs you see in the OP of a so-called "stable economy" seem not so stable.

Nobody knows Murrays thoughts on this coin. I'm not against it particularly until any info on that is released. If he is against it I would respect his wishes and not have anything further to do with it. I'm mining personally because I think he would

I don't think you can speak on the devs holdings other than baseless speculation. I've personally been in the pool with others and you can see he has been in the pool but only with a low hash rate initially...

I would just ask that you don't poo-poo this coin unless its more than just speculation

Dear Proudhon,

Can you please say the price is stable and/or be excessively bearish so the price can rise by 250 times again.

Thanks,
The Bitcoin Community.

A large Chinese mining operation recently watched Lost in Translation in a board meeting and now they have MRY fever.

I feel like that should belong in the trollbox, on second thought...

I see what you're doing, it's a good way to think of it.

The inherent flaw in the comparison is purely that the currency you describe is just like what we have already. It brings nothing to the table, other than scarcity, which alone does not provide value. I'm the only one alive with my DNA, but everyone else has their own too. I'm sure if they had a niche use they may gain value. But in the state you describe they have nothing to offer other than being paper. I find it bad enough we value paper (ie USD, AUD etc) as much as we do now, but unfortunately that is what the governments that rule us dictate as currency, so that is why that paper is worth what your paper is not besides being very similar.

The fact is the hypothetical bills don't have the desirable advantages BTC and alts provide. Digital currencies have that advantage of being digital. They can't be stolen as easily as the bills. You can't move those bills across the globe and back in hours. These are undeniable advantages over any physical currency. I personally see value for the reasons that a govt cannot intervene, that there is a limited supply, and all the advantages of being digital. Reasons vary, but crypto is desirable (not necessarily the value quantified by $$$) because of the traits they possess. At the same time, it's safe to say most people holding gold wouldn't want it for it's industrial uses, and that is definitely not where it's value comes from.

That being said I do agree about the altcoin scenario. I find it highly unlikely that BTC will be at the top purely because it was first and is now most popular. When has the first version of any software or the first innovation ever remained as king? BTC has plenty of flaws, namely the sustainability of it's network (both hashrate and power usage), moving away from decentralized nature as more and more are forced out of mining and so on and it becomes a monopoly between companies who can afford to do so. There will be updated coins that address this issue, I believe personally will take over BTC eventually. I think we have seen scrypt, which will make the next wave and is in the process of doing so, then we will see CPU coins make an impact, which they have also already started to. I think an ASIC resistant CPU-only coin will remain to be more decentralised given that it has a much lower barrier to entry and much harder to monopolise.

Cool, so we get to keep the increasing value of the currency as opposed to having the central banks siphon the value out of the dollars in my bank account? You feel more comfortable with the idea of your money losing value so you have to spend it right away?

The only reasons I'm not using my bitcoins thus far

A) I'm not being paid in bitcoins

B) Few are accepting them directly.

I'm not converting to fiat and back just to dip into my holdings. As soon as I can just do away with handling fiat and pay my rent in btc I shall do so.

When it takes off with gusto in 2014-2015, then I'll be using them as currency instead of just holding them