Say if you could make it work (it doesn't sound practically feasible). How do you propose to reconcile these truncated coins so the minting amount remains constant?
well the minting amount is not constant I believe for many altcoins nowadays. example: dogecoin via wikipedia, quoting: "Unlike some other cryptocurrencies, there is no limit to how many Dogecoins can be produced". Sure minting amounts aren't constant, but the effect on monetary supply could be harmful. Consider the following scenario then: Mining goes normal for let's say a few weeks. Then several people with farms decide to pool their hashing power together and happen to have as much hashpower as the current network and do it in a way so that by your protocol is considered to be a pool. Right there, they have artificially decreased the amount of coins produced by day in half. Would forcing scarcity be beneficial? And what would happen if they did it for a prolonged amount of time and then stopped for a prolonged amount of time before continuing on again and repeating the cycle? Don't you think the coin's market value would be shellshocked? |
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By the way, 1 TH/s would get you about $6-7M in coins a day.
For $1,000 a day, you only need around 150 MH/s you can accomplish this right now with around 30 mining rigs each with 6 R9 280X cards. That would probably set you back around $100k (assuming you can get several bulk discounts).
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Hello everyone.
Im currently interested in your suggestions to build a mining rig for other currencies aside from bitcoins (Litcoins and Altcoins). I like the idea of mining currencies who are still not widely know so i can be there for when they shoot up. I have enough budget not to worry about cost but i just want ideas of what i can do with hardware and software setup other than the info i see on youtube and other sources.
I want to build something around a 1 or 2 TeraHash for Letcoins, i just need to get the right components for it, or a suggestion as to the best setup for optimized mining.
Id appreciate the help.
Thanks!
1-2 TH/s huh? You may as well get together your own R/D and develop your own scrypt ASICs. |
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Say if you could make it work (it doesn't sound practically feasible). How do you propose to reconcile these truncated coins so the minting amount remains constant?
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Dang it all. My popcorn is running short...
But yeah, contrary to what many DOGE fanatics thought, the price of DOGE didn't go up. In fact it went down as people began to sell coins. Instead, the hashrate went down to support it's profitability.
Does that mean it's dying? Not necessarily, the fact that it still has a significant hashrate though means that it is still garnering a lot of support. Of course whether or not it's for a futile reason is another story.
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i think making a realtime news provider os totally wrong.
there are too many media outlets that read something and post it immediately before even trying to understand what is being said or research if what is said is even true.
there is too much mis-information out there and a real time media outlet will just add to it.
you will not win any reputation or any kind of large following by printing FUD. so your business plan will fail shortly after its started.
a better business plan is to be a rival to coindesk, but where you actually research and counter-argue coindesks failure in their research. this woul lead to you getting a larger following by revealing the truths behind other media sources lies/misunderstandings.
i know this involves some man power to research stories, instead of just coding a bot to search for stories. but we as a community need something different then the usual lazy media that exists so far.
goodluck
Couldn't he just put a disclaimer at the top stating that the facts have not been checked and that it is just a melting pot of news articles that have been recently written? Despite a lot of the articles being inaccurate, I like being able to look at once central spot (FUD or not), rather than googling and having to go to a dozen websites just to see what is in the media for the day... I tend to agree with this idea since the OP's intent is to get all of the news that is affecting price in real-time. So he'll inherently be taking all sources whether they are FUD or not. The problem is knowing which piece of news really is affecting price. But that's a different type of analytic that may be best suited for something else. |
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I already spoke to some of the devs, they quickly proved me wrong that biometrics are viable. They said for instance, that fingerprints are not the same throughout the whole life, they change and are are not as accurate all the time. I also tried saying ok what about a DNA scan, proved me wrong again.
This is the difficulty in making biometrics seamless and safe. One of the biggest issues is that unimodal biometric systems lack robustness. On the other hand, strictly multimodal biometric systems are very robust but they lack the seamlessness of unimodal systems. There has been work done on creating an adaptive multimodal system which uses probabilities to account for changes that the human body encounters but the difficulty is in trusting the robustness of the probabilities and securities of multi-level gaming of the systems. |
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You know, you may actually be onto something here. The problem is how to make this process seamless and safe. There are several major companies trying to incorporate biometrics with their security practices and it could behoove BTC if several major exchanges/applications incorporate it.
Once again though, the problem is making the process seamless and safe.
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Using the given list, I'll give three targets based on my "opinions."
Short-term (around 3 months): VTC. It has dropped significantly from the first sell-off spike. But I think with upcoming developments in the realm of ASICs, VTC will likely garner more attention and another likely spike.
Medium-term (around 6 months): LTC. If you go with some estimates, ASICs could be at the end of production sometime around the end of Q2 and start being used around the beginning of Q3. This will likely be followed by a spike in LTC price just like how BTC spiked after the first releases of SHA-256 ASICs.
Long-term (around a year): BTC. Come on, it's the nature of the beast.
Hehe. Have fun!
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I'm kinda disappointed...
For a moment, I thought this was going to be a scrypt fork of Freicoin since the OP so badly wanted this coin to spread like Wildfire. Oh the missed expectations. I really think a scrypt coin with demurrage would actually be fun to deal with...
But no, it's just another clone with no game plan, will probably be flashmined, and frankly serves no true purpose...
Oh well. Good luck with this one...
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Spoetnik. Hello.
Ya know, I was going to say this. I think Spoetnik made a post exactly like this on DOGE. Then again, it could be just a troll imitating Spoetnik. It's kinda funny, it's basically the same exact post just all the inputs of DOGE/Dogecoin have been replaced by Flap. Part of me kinda lol'd while reading through the OP. It was just like deja vu... |
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I did want to add: For anyone that is going long-term on LTC, being added to Mt. Gox could possibly be one of the worst things that could happen. Sure there may be an initial spike, but after that, I could imagine a very long-term bear market.
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when Gox accept LTC...is never because they are full of lies
FTFY
This just reminds me of a stretch of like 4-5 months where everyone was talking about their Mt. Gox's midas engine and how once they got that going then LTC would follow shortly after.
I remember each time Mt. Gox would go down for maintenance, there would be a huge buy-up of LTC in anticipation of LTC being listed on Mt. Gox.
I remember the plans for a Fontas pump when LTC would be released on Mt. Gox.
Fortunately, Mt. Gox has lost so much relevance. Personally, I don't care of Gox accepts any other cryptocurrencies. They've had so many issues for so long. It'd basically be foolish to trust them. And that's where I stand.
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Each time a new exchange is mentioned, part of me wants to cringe, and another part of me wants to be excited. There have been so many debacles with exchanges.
Fortunately this time around, I'm cringing less and allaying my skepticism for actual excitement. From what I gather, this sounds pretty solid.
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Yeah sure, Bitcoin lacks intrinsic value just the USD lacks intrinsic value. The concepts are just mediums that function as tokens in terms of bartering.
Sure, one can say that USD has the backing of the US government and military force, but BTC has backing too. The community, set up markets, and use as a medium of exchange; not to mention its built-in protocol features such as a ledger/accounting system and double-spend prevention gives BTC a backing in and of itself.
We place value on intellectual design, and innovation. So therein lies BTC's value.
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This is really awesome.
Just think about extending this to taxis...Then again maybe not. Could you imagine the whole tipping issue? I have a hard enough time with taxis in some cities. [One time when I went to Vegas, a friend and I were driven a mile and a half down the strip which cost $8 (this in itself is sacrilege) so I gave the driver $10 and he complained for a minute and wouldn't let us out since we only tipped him $2. Could you imagine how painful this would be with BTC transactions?]
Although, you could port this over to a service like SideCar with some sort of prepayment.
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Can someone explain why Mt. Gox hasn't rebounded yet? If they're about to reopen withdrawals then why is it only @ 313$/BTC atm?
I have enough faith in Gox to grab some BTCBTCBTC at half price if I could (doubt I can deposit in time) - why doesn't anyone else? What's going on?
Maybe because Gox has shown their incompetence over and over and over again since the very beginning? Precisely. It's the question about reputability versus discount. Would you get food from an establishment that has had multiple violations over the last few years for half the price of another restaurant that has had very little issues? I like saying "take a chance" but both this and Mt. Gox falls out of that realm. And if you get burned in either case you really have no one to blame but yourself. |
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Despite the fact that Bitcoins are still stepping out of the infancy stage, I think altcoin forks are starting to show signs of decline (when compared to market share percentage of Bitcoins). I think we're getting to the point where we will soon have three distinct tiers of altcoin forks (at least more distinct than they currently are): the major alts (probably 2-3), a few that are widely used because of various fundamental factors (probably 4-6), and the obscure clones that have virtually no vested interest in anymore.
As for all non-Bitcoin cryptocurrencies, I think we're about the hit the beginning of a new wave of innovative alt-currencies that will be more than just simplistic forks. Personally, I feel that crapcoins are about to hit the point of decline and in terms of returns, pumping and dumping them will not be as profitable as becoming involved with some of the new protocols.
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NobleCoin & The Water Project Hi everyone, Just a quick update regarding The Water Project. I am personally a little fired up at the moment following a heated troll discussion with someone on our NobleCoin Facebook page (I've included it below for 'light' reading - he's since deleted the post). We have confirmed with Peter that all the donations remaining on the page are legitimate and are staying, we've also 'covered' the reversals to bring the total to $4,300. What we would like to do now is make good with our initial target of $5,000 and hand the reins over to Peter at The Water Project so that he can put our donations to good use sooner rather than later. A $7,500 target seems tough for us in this bear market and we intend to continue with a second Water Project regardless. We felt we could do more good if we wrap this up and get the project going so we can feel like we've achieved something worthwhile in this crazy scene. I would also like to invite again anyone who is aware of charitable causes working with crypto who would like to get involved with us to get in touch. We will be donating a final 1BTC worth to the project today regardless to get over the finish line.If you would like to make a final donation please feel free to go directly to the page and help us get even further than the $5,000 before Peter signs it off. If you would like to donate to the NOBLE address so we can transfer it over that also works. Anything we don't donate to this round will be used for the second Water Project. After the conversation posted, I would personally like to stress that if there is any doubt with the amounts given to the public address or the amounts donated to The Water Project PLEASE voice them here. We will address them, make sure it adds up and donate extra if necessary until everyone is happy that we've done right by them. Let's begin our second step today. https://www.noblemovement.com/noblecoin-the-water-project/The entire conversation on Facebook can be viewed here: http://www.noblemovement.com/images/drama.jpg The Facebook thing. Wow. Troll be trollin' all day long. I think it's a great idea that you guys have committed to the first goal of $5k instead of waiting for the bear market to be reversed. Do you have any plans to spread this information throughout the crypto-community besides by posts/word of mouth? I think this is a huge milestone! Also, are there any plans on displaying what was donated (kinda like the public ledger) and by who (if they are okay with that information being divulged)? If so, how will you be presenting it? Since you guys are sharing such monumental news, I think there will be some backlash and credulity by competing camps. That said, I think you guys have done wonderful things and have shown that you are anything but schemers. Keep up the great work! |
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Nothing special when reassembling it, and the hashes have now settled back down to where they were before it fried. So it was just a short lived boost, unfortunately.
Only thing is, I have done this with graphics cards before and they rarely have much of a life left in them after the oven treatment. If I get the rest of the month out of this, I'll be happy enough.
Rit.
Yeah, I had a laptop several years ago and when the video card died, I tossed it into the oven and it worked for about a month. I actually tried it again when it died a second time and it lasted for almost an additional two weeks. Didn't work the third time though. Ha! Hope your card lasts you until you get some replacements! |
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