No worries about that if you use Linux!

I think the real reason the Alt's are losing value is because they are all still in the massive early inflationary period.

Think about this right;

If you have an Alt that mines at 1000 units per day;

Day 1 : 1000 units
Day 2 : 2000 units (100% inflation)
Day 3 : 3000 units (50% inflation)
Day 4 : 4000 units (33% inflation)
Day 5 : 5000 units (20% inflation)

It takes months or even years before the weekly, monthly or annual inflation rate drops to an unnoticeable level, helped along by the halving effect, if that coin even has that feature in it's code.

Most of the Alts on the market are less than a year old, that means they are still massively inflating compared BitCoin which has been running for over 5 years now.

Simple mathematics tells you that the value of any given ALT is going to drop until it ceases to inflate relative to BitCoin. It's not that people don't want the ALTS, or that they are turning away from them, it's just a simple case of supply and demand in a massively inflationary market.

The only way any ALT could possibly beat the early inflation is if it has mass adoption, but that's very unlikely.

If we spool time forward 5 years or so, most if not all of the current ALT's, especially those which are technologically sound, will cease to inflate, have found a group of followers and become a viable platform for being one of many global decentralised autonomous corporations.

TL;DR : Brand new ALTS inflate very fast, wait for them to bottom out before buying them.



P.S ... ZeitCoin seems to have an interesting idea to combat early hyper-inflation, it halves each week for the first 6 weeks before stabilising at a much lower level of production from there on out.

It's all in the name...

C'mon really, technology wise you can't put a cigarette paper between most of the existing cryptos.

And also, if you happened to have a delorean handy, you could go back 5 years with any of these
coins that exist, even if labelled the shittest of shit scam coins, and it would be revolutionary and
have beaten Bitcoin out of existence by now.

I don't get why people keep on thinking there has to be one coin and only one coin to dominate
the entire market... each one of these coins is the framework basis for a distributed autonomous
corporation. How many corporations are there in the world? Look at the new york stock exchange,
does anyone there even remotely think there are too many stocks, and that there ought to be
just one stock to trade with?

As it happens I believe I've got about 3, maybe 4 different ideas for really good names for a potential
new coin, I also have the technical skills to make it happen but right now I'm just too busy. That
might not be a bad thing in all honesty, I want to make sure that if I do launch a coin in the future
that the technology behind it is nicely matured, well tested and attractive to miners and investors
alike.

I'll give one clue away for free, I think a 7970 or r9 280x ought to produce about 20 units / day... but
that's all I'm gonna say unless/until I'm writing up the ANN for a release.

I think the next step is gathering people who are interested and have the technical knowledge needed to create a new Linux Distro. I use Linux servers all the time and I can set one up and install Perl modules from CPAN and what not, but I've never tried to build a new distro.

We need a repository system, perhaps decentralised so anyone running Crypto Linux (or whatever it's gonna be called) can share a small portion of the bandwidth for new installs to download packages. Maybe there should be a small incentive to donate bandwidth, say like if someone is setting up a new machine with the OS and your machine happens to be the one that serves a given software module to them, you get paid a token amount of Satoshi.

This way we can combine the power of financially funded closed source development, with the openness and freedom of the opensource world. Programmers can create new stuff and set it available to the world, and get paid when it gets downloaded by others. If your particular package becomes part of some hugely popular piece of software you could get loads of revenue to either trade in the system for stuff you want for your computer, real world goods and services or even if you really want it... some fiat tender (*ick*).

Hi all,

I was installing Ubuntu the other day and when I saw the screens asking for donations via paypal, I suddenly had an idea.

Crypto Linux...

A new distro, maybe debian/ubuntu based, but designed to be crypto-currency friendly right through.

Now I saw the other day someone has figured out a version of linux which comes ready made for mining rigs, so that is a start; but just imagine if this was taken to it's logical conclusion!

- Donate to improve the OS easily by whatever crypto you like best

- Donate to software development projects, games, killer apps, true rivals to the programs that keep us stuck using winblows.

- Automatic detection of graphics hardware that is good for mining, with a friendly prompt asking if you would like to mine using whatever hardware you have.

The opensource world has always lagged behind the closed source proprietary software world because it costs so much money to build good quality software and no one wants to pay for opensource code to be written because they can't make money from it... well that can change, the system itself can expand and grow according to whatever it's users want to see and don't mind making a small token contribution to.

Want a perfect clone of counter-strike? sure why not...

Want a program that is better than Photoshop? Me too, I'd throw a couple of million satoshi towards that project!

This can work, and could potentially become the dominant desktop OS, creating a real difficult problem for any governments that want to ban cryptos and keep themselves in the software stoneage, paying fiat currency for software licenses and product keys to unlock software that is not as good, can get viruses and spyware and has to be paid for again at each major new version!

If you like this idea and you want to see it happen, share it far and wide. Someone out there will have the knowledge of how to get it started. I can't .. I'm a Perl programmer and I don't have time to acquire the requisite skills whilst I pay my fiat currency bills

I'd buy a bunch of BTC then play some trading on cryptsy.com

@Mortico, I suspect we will see dozens of new Alt Coins popping up all over the place for a long time to come. Some will live some will die off, the market will be the judge of what is wanted and what is wasted.

@Mystery-man

Fast block times and low transactions are great. The transactions can't be too low because there has to be profit for miners in the future to keep the currency alive.

It's definitely going to be SCRYPT based.

Address Book = Star Chart
Recieve Coins = Beam Up
Send Coins = Beam Down

Any other ideas?

Mortico +0.1 SPOCK
Mystery-man +0.1 SPOCK (making you level with CatQuarks @ 0.2 SPOCKS each)

(1889.2 SPOCKS remain)

Hrm, maybe... but then not every Crypto has to be about being for commerce, these are more like a rare collectible.

Besides, isn't the whole movement supposed to be about sticking it to the man? I see no reason why the banksters should be the only ones to feel the Wrath of Satoshi!

+0.1 jazarja
+0.1 EmoneyRu
+0.1 XylemUP
+0.1 CatQuarks  <--- current richest Spock Buck holder with a total of 0.2 Spocks!  (could be the easiest 20 BTC you've ever made, you never know...)

Probably, but then Paramount / Viacom would have a very hard time figuring out who to sue over it!

And anyway I'm not in the USA... so sucks to them

CatQuarks +0.1 Spocks
MisO69 + 0.1 Spocks

Please claim your Spocks after launch by citing this post and providing your Spock wallet address when you have one.

(1889.7 PM Spocks remain)

Still need suggestions for the best crypto to clone and edit, upping the bounty to 1 whole Spock for the best suggestion on that. (Could be worth 10 BTC eventually)

Thanks for the support. +0.1 Spocks for you if this all works out.  (1889.9 PM Spocks remain)

I need to figure out which is the best crypto to clone from, I am currently drawn to DMD, but at this stage it's completely open to debate.

Perhaps a 0.1 PM Spock bounty for the best / chosen suggestion is in order.

Well no free spocks for you then, accepting one, even as a prize for your honesty goes against your principles... sorry about that, you will
have to use your graphics cards to run the free software to get your free money. On the other hand I'll be using my time and my hard earned
knowledge of programming to earn my pay.

As for the logic it's perfectly reasonable, just look at what happened with DOGE coins for an example, billions of them around and the value
has hit the floor. There is an inverse proportional relationship between coin value and availability volume, with only 2.1 million units available
assuming all other factors to be equal will give a potential value equal to 10 BTC, I can't see the problem with that or why you wouldn't
understand the simple arithmetic.

As for mining the whole thing in a year, that doesn't increase or decrease the ultimate value, it simply means we can get to end game of
this coin quicker and it means people with slower graphics cards have a chance at getting some goodies.

I will be completely transparent with the allocation of the 1890 Spocks that I'm ear marking for distributing to people who help with the creation
of Spock Bucks.

I've just opened a wordpress page for the project as well : spockbucks.wordpress.com

Hi all,

I'm new to this forum, just signed up yesterday because I wanted to talk on the Earth Coin launch
thread, but for now I'm stuck down here.

Anyway aside from that, I have an idea for a new crypto currency I want to create, based on an old meme I
saw going round the net years back called "Spock Bucks".







My idea is to bring Spock Bucks to life as a clone of one of the existing cryptos, but with a limit of only
2.1 million units which will all be produced in just one year.

With so few of these things available, they should theoretically be worth 10 BitCoins each so there
will be lots of profit for speculators, and with so many being made so fast there will be lots of profit
for the miners as well.

I know some people don't like the concept of premining, but I am thinking if I premined just 2100 of them,
which is 0.1%, I could then distribute 1890 of them to anyone who helps support the creation of spock
bucks and any services around them, leaving me with 210 Spocks which is 0.01% reward for having
thought of this idea.

Anyway, if anyone has any suggestions how to start, or what is the best currency code to clone in
Github to make modifications to then please let me know by replying below.

I've created a GitHub account for the project here : https://github.com/spockbucks/SpockBucks

One final thought;

Spock: Jim, do 8 decimal places constitute "exact change"?