I m worried about hacking potentials...
can a potential hacker 'proposely' fork it?
that will then temporarily allow double spending on each fork which will appear legit until forking is fixed right?
purpose forking would require a 51% attack. You need to dominate the network. If pools do not have proper DDOS protection then a hacker can take down all the pools and solo mine DOGE. Hashrate drops because most people dont watch their miners 24/7 so hashrate drops and makes it easier to fork. |
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I am a little new to crypto, but I am good enough with computers to understand the blockchain forking is pretty bad news.
however, the community in doge appears to not care about it, so I come to conclusion my understanding is not enough.
can anyone explain to me why it happened?
and it is a potential big problem? or is crypto advance enough to shrug it off?
forks are bad. People who don't acknowledge them are ignorant of what it means. PersonA sends a transaction on ChainA. ChainA forks and is now ChainA and ChainB. Person sends another transaction on ChainA. If ChainA is resolved as the dominant chain the transaction gets recorded and there are no problems. If ChainA loses dominant and ChainB wins then the transaction is lost. You lose. What sucks is that some people are transacting on ChainA and some are transacting on ChainB. No one knows what the dominant chain will be until they resolve. You are pretty much gambling with your coins if you send them while a fork is occuring. |
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so "how much" do you actually make a day?
Already running 150MHs for about 6 months. Totaling about 50 LTC per day. Used to be a lot more 6 months ago. I sold a lot of LTC in the run up. I have about 2.9GHs in several orders to be complete by Q3. Selling that much LTC is difficult and hosted mining is easier to sell. |
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whatz a matter sheep... need a shepard???  I think you mean shepherd. sory tipo. nun porbelm. Still sheep need a Shepard  |
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whatz a matter sheep... need a shepard??? I think you mean shepherd. sory tipo. |
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Q3 2014 I plan to launch a total of 3GHs scrypt mining and provide an exchange price for consumers to determine the price they want to pay.
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Hello here,
i have a simple solution which may solve all instamining and highly inflating coins. Just make variable reward with minimum requirements of hashrate to give full block reward. E. g. electricity price divided by hashrate + only a small bonus = the reward if no gigahashes are mining. Or just simply if some coin is mined by e. g. 10Mhashes only, the mining should not give to miners more than few percent of normal reward. This would solve the problem of coins which get instamined and dumped or gain some value and get killed by inflation of new and new coins without decent hashrate or demand.
Is there currently any those coin? (except bernankoin which is doing that by opposite way and it is just a good joke). Thank for answers.
You are proposing an inflation coin with a inflation rate relative to total hashing power. A coin like that can be gamed and increases mining would dilute the value of the coin suppressing price. Mining it would destroy its value more than current coins. Traders would ignore the coin because of its quickly destroying value. No one would want to hold the coin for any period of time. |
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whatz a matter sheep... need a shepard??? |
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This is a waste of a post. People are going to "talk their book". By pure metrics LTC has the most utility in that next to BTC it is most accepted my merchants for transactions (not exchanges). The next is FTC and then it falls off a cliff.
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Holy shit, this nutjob is still alive  Bitbar does not have Transaction Malleability issues and I would not be surprised if Bitbar surpasses bitcoin in 2014 Since bitbar is a sloppy litecoin clone, you bet your ass it has this issue as well. that made me laugh for some reason.... but yeah, blast from the past..... i remember once people were paying 3btc per bit bar. Who were those guys that used to swoop in after every launch and buy a huge bunch??? anyone remember I never heard from them again after they snapped up a ton of bitbar. Probably took the easy way out. However, i do think bitbar will rise from here. I have a few bars... just for fun. WTF? This thing is still alive. Who is mining it? Why bother? It was fun at the start but Truecoin and the scam crew around BitBar made it fail quickly. |
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This is an amazing app. I didn't realize you had a thread here on bitcointalk. I found it surfing the app store and found it. Keep up the good work and thanks for keeping it up to date.
Sending you 1 LTC for the great work.
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doge seems to be in a slump
This is similar to what happens with FTC and why I felt DOGE would begin to model FTC in time. Now that the reward halved mining profitability is way down. DOGE and LTC are as profitable. If you take into account DOGE's high orphan rate/stales then DOGE is actually less profitable than LTC. Some miners have redistributed back to LTC as LTC hashrate is climbing again. A lot of miners we not dumbing DOGE on the run up because the community was insistent that DOGE was going to double in price after the halving. If DOGE does not continue to climb then the built in inflation of the coin will cause price to sell down. I'm still waiting on hitting 200 to buy back in for the first bounce. |
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Well I'm seeing DOGE going to very 200. See you there.
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Thats right, it will happen in the next 5 to 6 hours!
Better buy in now, before take off. IMHO
To the Moon!
Edit: 344 301 254 blocks!
And then what? What is the next thing I should be looking forward to? Simple, if you are short term investor, start thinking about your exit point; long term investor, hold.  (As always, only invest in what you are willing to lose) Short term long term I asked what is the next target? I shouldn't hold something just because. What is next for DOGE? |
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Thats right, it will happen in the next 5 to 6 hours!
Better buy in now, before take off. IMHO
To the Moon!
Edit: 344 301 254 blocks!
And then what? What is the next thing I should be looking forward to? |
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You know what grinds my gears?
 |
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And this is pretty much the reason I can't take dogecoin seriously as a financial instrument and it pretty much equates to a bubble.
doge investors keep telling others to believe in doge and only report on how big the bubble is getting and not the growth in doge's utility.
I mined a lot of doge in the beginning (about 400 mil) just like IFC (4 bill) but at least the ifc community is taking itself seriously. doge doesn't and the community only cares about getting new people in to buy more to lift the price, instead the network. eventually, without utility, bubbles burst.
I guess its time to start my exit strategy on doge. Its been fun watching the hilarity.
Strategy is something you apply to war or even a PC game. Selling your 400 mill is hardly a strategy, it's something even a 5 year old can do. The strategy is much more than just what I do with doge coin. The strategy is how I treat all cryptos. I maximize early mining of all coins. Based on the coin configuration I determine how much I mine it for and how long I keep it. I had a lot of coins where the networks failed and the coins are lost (wanted electricity) But the return on the ones that were successful have dwarfed the lost electricity. IFC was interesting because it was a quiet grower and one of the first that was doing fast block reward halving. It was the proof that paved the way for DOGE. DOGE grew very fast and was a great ride. I think the reward halving was a major target but after that? What is next? It needs more utility. So I expect a huge dive as miners redistribute rigs to other coins of equal profitability. Lower hash rate means lower prices. Since price on DOGE has rode up on the reward halving speculation I am using it as a selling opportunity for 2/3 of my DOGE. I'll keep some for the long haul though. We'll see what happens. |
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