You just lost all credibility and established yourself as the bitcointalk dunce. Yeah, Quark developers created a private GPU-miner that no one else has been able to make and used it to exploit their coin and none others that they also could have profited off...  Please stop the biased, Quark shilling. The GPU miner exists and was close source. I didn't make it up. Whether it's affiliated with the creators or not doesn't really matter. It just adds to the long list of Quark problems. It's not the "sole defining problem". |
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Just check out the video.
This is what's insulting to people's intelligence. People have been doing nothing but spamming that video all over the forum all week with a Disney world explanation of Quark. In reality, an unbiased viewer with enough knowledge of how crypto works would define Quark as the following: Quark (noun): A proof of work cryptocurrency that either through sheer incompetence, or an attempt to run a pump and dump scam, sacrificed all block chain security with an accelerated block reward model, reaping windfall profits, and possibly utilizing a close sourced GPU miner kept from the public. The coin now resides on life support, and only through a checkpoint system, which needs to be run in real time to prevent a homeless man with laptop from 51% attacking the network does the coin still exist at all. |
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From my understanding, BTC just drops in a snapshot of the most recent consensus chain whenever they do an update. Quark on the other hand, seems to rely entirely on the checkpoints for all of it's security currently, and would need to broadcast checkpoints practically in real time for it's network to be secure.
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This is the strangest thing I've ever seen. Do you have any marijuana to go along with this presentation?
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Are all coins with checkpoints bad then? Is PPC bad because of checkpoints?
Checkpoints are a safeguard that Quark probably won't have to use. Quark is resistant to 51% attacks because of it (much more resistant than many crypto-coins), and as the value of Quark goes up, the mining incentive will go up and further secure the network..
Lol? Federal reserve notes are also resistant to 51% attacks. |
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Can't believe I read through two pages of replies, covered with lots of "Hero members", and not a single person has a grasp of why altcoins are needed and HAVE to exist. Let me quote myself: Anyone that supports bit-fascism/authoritarianism, meaning Bitcoin as the only dominant, official currency, can't be trusted as far as you can throw them. Centralization of power created in that manner is no different than the system we already have now. What happens if Bitcoin is the only currency and the govt takes it over? They can appoint Ben Bernanke to lead it, force new fork updates to inflate the number to Dogecoin levels, redirect transaction fees to be sent straight to the IRS wallet, etc.
Bitcoin as the only currency has the potential to be a more Orwellian nightmare than the economic system we have now. There has to be lots of competitors to have a free market, to prevent government from monopolizing it.
Beware of the current Bitcoin devs/Satoshi wannabes. Their outward hostility to any coin besides Bitcoin truly shows they are either completely corrupt, or oblivious to the point I make in the paragraph above. They cannot be trusted for this reason.
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Just like Sunny "The Taxman" King, the Ethereum people have never heard of the word "Occam's Razor". There are hundreds, if not thousands of Arbitrary variables in Ethereum they get to tinker and play God with.
r0ach - what are your issues with Peercoin? thanks. Ultimately its for the market decide. So I'm working on a market system which puts all at a level playing field. Then you have demand & supply establishing prices. As long as information is freely distributed people can evaluate all schemes on their own merit. When examining proof of stake, the conclusion I came up with was, it's a more elegant solution to solve the problems proof of stake *attempts* to tackle, by simply not giving out unlimited numbers of wallet addresses, or limiting them to one per individual: Bitcoin Capitalism vs Bitcoin Socialism and the inevitable death of Sunny Kinghttps://bitcointalk.org/index.php?topic=395769.0I believe NEM coin (NXT fork), is attempting to utilize this idea now. But then they taint and ruin the entire project with an IPO money grab. |
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Your article made me want to buy BTC and dump doge. Doge may get used more, as it looks like a survivor at this point, but without the limit on the number of coins you would always be better off holding bitcoin.
The Doge developers should have done what they said they were going to do and cap it at the 100 billion. Even that is probably too many coins.
I understand the benefits of inflation and would have had no objection to them not having a cap, but you should do what you say you are.
It's actually more complicated than that. Doge was way more front loaded than most other coins, with the exception of quark (dump truck method), NXT (full premine), and Doge blocks are going to taper down faster than most other coins as well. This means that even if you purposely designed Doge to be inflationary, it can still be less inflationary than other coins for the foreseeable future... |
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dogecoin mined 6.5% (12B) in 3 days. there is no way dogecoin should be a long-term "valid" currency Thanks for replying to my post without actually having read any of it. I specifically stated, "Contrary to what the topic might look like, I'm not saying Doge is a good buy". I stated that while the price of Quark is currently going up, and Doge going down, Quark is actually in a worse position than Doge is. How many people are going to post in this thread pretending like having a PoW coin with no miners that uses central check pointing is a good thing? |
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He probably fears Quark since it's a contender and is growing rapidly.
That's why he is desperately trying to bash it. No, I actually have nothing against Quark. I investigated it in an unbiased manner to see if I should buy some just to cover all my bases. My personal analysis of the coin's fundamentals was grim, and just about anyone I saw talking about the coin in the Quark community, even pro-Quark people, all agreed that the coin is currently not in a very good state. http://www.reddit.com/r/QuarkCoin/comments/1wa1v3/real_problem_for_quarkcoin_future/If you want to keep the coin forever check pointed, then sure...you can ignore those criticisms, but most people don't want centrally check pointed coins. The Quark moderator flat out loses in technical point discussion to that guy, no name calling or anything. And after his presentation, all they come up with is "Please don't attack our moderators and spread FUD in our community." You got to be kidding me. They're basically admitting the coin distribution model is broken, but it's rude to talk about it! Quarks distribution model is genius It might be genius if it was a proof of stake coin, but it's not. |
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POW not safe,dirty and wasteful yawn
Ok, let's hypothetically assume everyone agrees with you. You did nothing to counter my premise in the original post that an IPO is not actually needed to run a proof of stake coin. It can be considered as nothing more than a money grab. Even if you only ran PoW distribution for your PoS coin, for a single year, Quarkcoin style, it would still be light years better than what NXT did. Imagine if NXT becomes the #1 coin? We already had a book detailing the creation of the Federal Reserve entitled, "The Creature from Jekyll Island". The book details a handful of bankers sitting down to create a money supply instantly, out of thin air, for personal gain. You could write the exact same book about NXT IPO if it succeeded. |
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Predictably, most votes are against IPO. The biggest flaw of the poll is that people don't have to disclose being NXT bagholders in order to vote.
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There's a reason coins like Peercoin didn't go for 100% initial distribution: because it's completely retarded. Exactly. Hybrid PoW/PoS is actually legitimate. A 100% IPO PoS coin is just a money grab scam. There's absolutely no reason whatsoever to use the latter. |
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Your theory is flawed, it assumes that widespread adoption of bitcoin (or any crpyto) would not prompt aqueduct advances in the ease and understanding of private key security. We already have an insured bitcoin vault and hardware wallets are coming soon if they're not here already.
"I will be using my influence on the Vertcoin team to try and adapt to this model. "
Please god no! You are going to be dead long before vert is mined out.
Quark was a failure for numerous reasons not just because it was mined out.
People are going to read too much Keynesian in that statement, I should have made myself more clear. The goal is just to keep a non-zero block reward indefinitely for block chain security that would also not negatively affect inflation in any meaningful way. As you said, the point at which that happens is a long way off and not something anyone should be concerned about for short term, or even long term price value. Doge has a flawed economic model (if you plan on investing) although I support it because of how great they are for the crypto community! Keep getting newbs into cryptos with Doge, and let them learn how/where to invest later.
If you read what I wrote, or know anything about crypto, you would know Quark is even worse off than Doge. Quark has checkpoints for a reason. |
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At $300 each that's only $1.8 million worth of GPUs to run a 51% attack.
Really, that's all I need to attack Dogecoin is $1.8 million dollars in r9 290 video cards? How much did the 9/11 attacks, or alleged government patsy attacks (pick your choice), cost again that destroyed several financial institutions at the same time? $5 for a box cutter? I wonder if the neighbors will notice $1.8 million of r9 290 fans running in my house. |
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Hilarious that the original poster tries to compare Vertcoin and Tittiecoin.
Does that mean NXT is a 2nd generation rapecoin?
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I need people to look over my proposal for Vertcoin in the following post. It's buried near the end of the page, so get to reading: Why Quark is a loser in 2014, Doge is a winner, and how this relates to Vertcoin https://bitcointalk.org/index.php?topic=446286.0So to summarize.. a bit of inflation is good for currency... yes, agree  It's not really inflation if the coins lost are equal or higher than what miners are bringing in, and there's not really much data on what a safe number for that is yet, but 1% is a pretty conservative, safe number for the security of the block chain in particular. This is stuff Bitcoin devs talk about behind closed doors about implementing in the far off future once they acquire more data. They don't want to scare anyone who doesn't understand how the system works and get labeled as Keynesians, when the currency would still be deflationary or at equilibrium. Using tax fees alone is a pretty horrid model of mining incentive though. It relies way too much on market cap of the coin. A combination of transaction tax fee and non-zero block reward is obviously better. |
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Are you clowns really not good enough to double your profit trading an altcoin without wolong? There's way more risk going in on this than actually learning how to trade yourself. This isn't a deal, this is a lottery ticket.
What's next? Russian Roulette with Wolong Thursdays?
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The first thing my wife asks me when I talk about Bitcoin; "But what if the price drops, what if, what if.., what if...  " Like I said, risk adverse. I would say I am mildly obsessed. I find myself checking the price morning, noon and night.
Lol? Is BTC price really that interesting...Do you mean Bitcoin or all coins in general. Bitcoin is pretty damn boring when there's way more action in other coins. You already know before you wake up that BTC is going to go up 20%, then down 20%, then repeat. Other coins are going up 1000% in one day. 2014 altcoin analysis by the dread shibe r0ach: Why Quark is a loser in 2014, Doge is a winner, and how this relates to Vertcoinhttps://bitcointalk.org/index.php?topic=446286.0 |
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