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Just realized from Hazards article that 8 million GLD were mined in the first 24 hrs. Then the chain is forked again to lower the reward. So MicroGuy is sitting on top of 1/3 of all Goldcoin? Wow... why didn't I think of that? lol ... I have an idea.... next up on the Sh!tCoin Market, SilverCoin!
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I actually mined during the first hours of GLD. Unfortunately I barely missed the 10,000 GLD blocks. At some point I had 80% of the network hashrate with my 140 KHash/s, because GLD was originally announced in the Newbie section and I guess everyone there just used the built-in CPU miner since no GPU mining instructions were posted (though it was trivial to do, since GLD is exactly the same as every other scrypt-coin). It was pretty cool seeing the 1000 GLD blocks stream in back-to-back.
After a little while I just turned the thing off, because I didn't think anyone would care for this coin for more than a day. Turns out I was wrong. And I still have no idea why this coin, announced in the Newbie section by an anonymous member, with no innovation to speak of and one of the worst block-reward-schedules out there, is still around.
Pure human greed. The world "Gold" with the Golden coin and the "GLD" ticker. |
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A minor bug has been discovered in the code that is causing an unintended drop in mining difficulty. Like Fort Knox, the 51% attack defense is designed to keep your Gold safe and secure from the bad guys. This new defense system is unique to anything ever seen in cryptocurrency and perhaps not unlike the way Satoshi would have approached the issue had he stuck around and continued his work on Bitcoin. Of course, one of the consequences of great technical innovation is that sometimes there can be kinks in the machinery, think "Wright Brothers". Well, the kinks in the new code have been identified and the development team is currently working on a solution. We expect to release a maintenance patch within the next 12 to 36 hours or sooner. This should allow mining operations to return to normal. And please rest assured than during this entire process transactions will remain reliable and secure.  I was all for GLD when I first discovered it. I still think it has some potential but not if you keep deleting posts of potential supporters for no apparent reason. Unlike you I am not going to delete your post(s). I want to see what the rest of the community thinks of GLD before I even think about touching GLD again once the so called "51% fork" patch arrives. |
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Wish I would have seen that a week ago! |
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Since the guy who runs the GLD thread just deleted my posts I decided to see what the rest of the community thinks of GLD as I am sure others have had their posts deleted for no apparent reason: GLD FACTs: 1) GLD generates a block every 2 minutes. First 200 blocks paid out 10,000 GLD. That means 6 hrs to generate 2 million GLD. Premine anyone? EDIT: After reading Hazards article there was actually 8 Million of the current 28 Million mined in the first 24 hours: http://cryptolife.net/goldcoin-the-scam-that-keeps-on-giving/2) GLD was obviously just forked by the so called "51%" defense. 3) 3/4 of my GLD just vanished. Wtf? A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. Quote Glad to see the guy behind GLD is welcoming of new community members. Then again that does explain how the first 2 million GLD were mined in 6 hours. Quote from: Bitcoin Forum A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. Quote I like the idea behind GLD & would love to keep mining it. It has some great potential. After all, who doesn't want some crypto Gold with a nice shiny wallet emblem?  But after watching over half my coins disappear I must concur that this 51% defense is on its way to becoming a major mining buzz kill. Back to FTC and WDC I go. Looking forward to the patch. |
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@MicroGuy or Akumaburn
You've definitely have some multiple forking issues going on.
I tried GLD (solo mining) for the first time, found 26 blocks and had 1170 GLD, some confirmed and some still immature when apparently the client re-synced with a rouge chain and wiped out the previous mined GLD. I think it is related to your 51% attack solution but can't say for sure as I haven't looked at the source or tested beyond my initial mining effort.
Also I tried initially mining at 10 mhs which isn't a significant amount for me. Until I dialed it back to 5 mhs, every block I found was rejected. I assume this is also an issue with your 51% solution. So in effect, the maximum any miner can mine with is less than 49% of nethash to keep from triggering the 5 blocks in 10 minutes trigger. With these kinds of restrictions/issues and the nethash only at 16mhs, it's going to be very hard to increase the nethash to any appreciable rate.
Hope to see you fix this chain.
~BCX~
+1 ++1 Just mined for a few hours. Kept watching my freshly minted GLD #'s roll backwards. Not Cool. |
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What the fuck did they think would happen by stopping trades? Fucking wankers! I'm gonna go get fucking hammered drunk and tell people about the 24 hours I lost a $100,000
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My bet is we get another delay. T minus 14 minutes.
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The options don't cover a lot of cases.
I have already sold and have not yet decided whether to re-enter serious Bitcoin speculation -- apart from a few low catch-orders if something really crazy happens.
If this was a bubble top -- which it looks like -- we might get months of chaos and then more months of bust. I might be able to let the decision wait until later this year.
Just added "i'm not sure" |
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What are you doing when Gox re-opens?
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If I had been in cell service and not staking mining claims in a remote ass wildneress I would have done the same thing. At the end of the day we are only human. Have faith but do the math. Bitcoin has now way mathematicaly but to be zero or worth a fortune! Coins are still cheap!
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Shit, I was out of cell service for 8 hours and all hell broke loose! Damn you Bitcoin, I want an invitation to the party next time!Lol! Just have to point out my chart showed a crash floor of $150 (which looks to be where the price first stabilized after the madness). We have all seen this before.... bunch of newbie dumb asses put in "market" orders when gox started lagging and learned all about getting "goxxed." Shit i did it back in the $30s and learned my lesson (of course the price only tanked $10 lol). See you all next Monday @ $300.00! "Long live the coin! Here, here!" |
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At $50,000. I might be tempted to sell of 1 BTC.... that would pay off the rest of my student loans and buy me a nice shinny new car Unless ofcourse I can do that with BTC at then point. Then I wont cash out |
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At $50,000. I might be tempted to sell of 1 BTC.... that would pay off the rest of my student loans and buy me a nice shinny new car |
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i was 14,250 in gox queue on Saturday, now i'm 11,800
one day later and i'm only 11,620  Now i'm 10,360 so i've moved nearly 4k places while the queue has still gone up over 4k, so i guess that means about 8k new requests since Saturday? How many of those are signing up to cash out? 10% maybe? |
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* Viceroy asks while bowing at BitcoinTate How far can we go, sir? When will it crash, sir? Well my young apprentice, the farthest point we can observe is currently about 42 billion light years (the distance that light has been able to travel since the big bang began). So if we take that and put it on an exponential graph and then double our answer we might be close! As to a crash? What's a crash? I am sorry, I am not familiar with this term  augh i was the first to post after mr tate...IM FAMIOUS BY KNOWING SOMEONE FAMIOUS! hahaha .... I was thinking he might be a bit crazy but also understanding what the gaph was suggesting and what the coins might do. so i went out and bought some damn bitcoins! hoooo rayyyy tate is the man!!!! ok lets start a new thread with your predictions. also make a low ball and a high ball prediction, that would be cool. +1 lol! I love it. Glad you made the switch to BTC! I have had several people message me today... had no idea this thread would have this amount of impact! So in response to its inaugural posting I will be making a more detailed chart with more evidence to back it up for next weeks prediction. High ball & low ball is a good idea. After all, math doesn't lie I will try to get it done before I leave tomorrow on a three week business trip. (Gotta go make some more fiat to dump into BTC.) |
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Could anybody with BTCcharts up tell me how many bids, in $, we are from $250 and $300, respectively? I'm getting
$1,250,000 $3,400,000 Thats honestly not that bad. I remember when it cost $3.5M-ish to get from $140 to $150. This is exactly the reason I suspect we are not moving up right now. When asks are low, the market tends to do the responsible thing and wait for them to fill up, instead of the reckless buying the price up another $40-50. Well it's just going to happen eventually! |
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You are way off, Bitcoin can't be compared to some random stock. It's a New Paradigm!!!
I agree entirely, why only today the guy cleaning my shoes was talking about his Bitcoin investment going up in value. I overheard a random guy in the grocery store talking about bitcoin yesterday, also the cashier at my CVS asked me what the hell all these new Moneygram orders to ZipZap were for  lol! For the last 2 months I have been making cash deposits at Wal-Mart almost every other day. I know the whole staff on a first name basis. They think I am planning a trip to Sweden! lol! That seems like a highly inefficient way to plan a trip  lol! I mean not to bash on wal-mart employees...but well yeah. The first time I went in I told the guy I was exchanging USD for Bitcoin. He said "what's Bitcoin"? I did my best to explain it... but he looked at me like I was an idiot and asked "Why would you do that?" So with out missing a beat I replied "I'm planning a trip to Sweden to drink beer with a bunch of beautiful Nordic babes and that's the currency they accept there." And thus my Moneygram cover story was born. lol! I love it. I hope you won't mind if I steal the cover story next time I need it. Only as long as you add something to it and make it more outrageous! lol! |
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I will buy all your BTC for $50 a pop right now if your so convinced that's the long term price!
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You are way off, Bitcoin can't be compared to some random stock. It's a New Paradigm!!!
I agree entirely, why only today the guy cleaning my shoes was talking about his Bitcoin investment going up in value. I overheard a random guy in the grocery store talking about bitcoin yesterday, also the cashier at my CVS asked me what the hell all these new Moneygram orders to ZipZap were for lol! For the last 2 months I have been making cash deposits at Wal-Mart almost every other day. I know the whole staff on a first name basis. They think I am planning a trip to Sweden! lol! That seems like a highly inefficient way to plan a trip lol! I mean not to bash on wal-mart employees...but well yeah. The first time I went in I told the guy I was exchanging USD for Bitcoin. He said "what's Bitcoin"? I did my best to explain it... but he looked at me like I was an idiot and asked "Why would you do that?" So with out missing a beat I replied "I'm planning a trip to Sweden to drink beer with a bunch of beautiful Nordic babes and that's the currency they accept there." And thus my Moneygram cover story was born. lol! |
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