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961  Alternate cryptocurrencies / Altcoin Discussion / Re: Scrypt ASIC device type on: June 10, 2013, 04:36:02 PM
again anyone who is building an FPGA or ASIC miner for scrpyt mining is delusional.  LTC liquidity is not there on any exchange so it will drop the price on LTC prices which will make future purchases of ASICs worthless.  Look at what is happening to Avalon and BFL device valuations.  As BTC dif skyrockets the ASIC devices are collapsing in price.  Avalon had to hurry and sell off their remaining chips before no one wanted them.

If you factor the cost of developing an ASIC for scrypt the manufacture would not have enough of a window to get a return on their investment of the manufacturing cost to get a return in 60-90 days.  But as we see with BTC and ASIC that is too long of a window.  They would need to get a return within 30 days because the price on LTC would collapse quickly as people sell off their LTC to recoup the purchases.

So basically there are 2 routes for ASIC developers is the get front loaded a bunch of money and delay shipment as much as possible while they mine or pretend you have a device or are in development of a device to get donations from the community which is anonymous enough that it would make it difficult to get legal action against the scammers.
962  Alternate cryptocurrencies / Altcoin Discussion / Re: Scrypt ASIC device type on: June 10, 2013, 04:17:34 PM
Yeah, why can't you guys be legit like Trucoin?

lol
963  Other / Archival / Re: delete on: June 10, 2013, 10:22:04 AM
it is ironic when I see people trying to comfort their selves about what is happening!! it is a huge problem, you are just so ignorant, or the new FTC pump made you risk everything for nothing, unbelievable !!!!

it's greed, I'm sure that the developers or the few insiders that hold FTC don't want the chain fixed.
964  Other / Archival / Re: delete on: June 10, 2013, 10:19:16 AM
Rolling back would be very hard to achieve and would be incredibly damaging to the coin. There was over 4000BTC volume on Feathercoin at BTC-e. I doubt you could convince them that we need to roll back.


You know what else is very damaging to the coin?  Not rolling back.  FTC's reputation is on the line

You see if you allow the attacking chain to persist then the attack wins.  It also sends a message to all other potential attackers that your coin network condones this behavior.  Which means FTC will get attacked again.  FTC will lose hashing power in the future and will be ripe for another attack based on this attack and response I refuse to mine FTC and I'm sure there are others.  Coinchoose has already delisted FTC and I expect that other services will do the same in time.

FTC is broken if you don't fix it then the block chain will have this attack in its history and FTCs future as a potential currency will forever be tarnished.
965  Other / Archival / Re: delete on: June 10, 2013, 10:08:09 AM
Dear Mr Bushstar.

cryptoexplorer, wemineftc, coinotron - those are on a different chains than BTC-E .

No one got their coins. The chain is still forked or completely fckd.

     

you can add BigVerns fcpoool to that list too.
966  Alternate cryptocurrencies / Altcoin Discussion / Re: What is up with feathercoin? on: June 09, 2013, 09:16:32 PM
Is there any way for them to get that on BTCe to dump it?

for sure, the block chain is considered valid.  So they can get the ftc on to btc-e just fine.  once they have the ftc on btc-e and have their transactions confirmed (by their won miners of course) they sell their ftc for btc and then there is no reason to keep the chain going they can just drop it.

Interesting. People on BTCe are saying their FTC hasn't shown up in 40 hours. They must be on that other FTC block chain.

I mean the attackers can get their FTC onto Btc-e just fine.
967  Alternate cryptocurrencies / Altcoin Discussion / Re: What is up with feathercoin? on: June 09, 2013, 08:55:53 PM
Is there any way for them to get that on BTCe to dump it?

for sure, the block chain is considered valid.  So they can get the ftc on to btc-e just fine.  once they have the ftc on btc-e and have their transactions confirmed (by their won miners of course) they sell their ftc for btc and then there is no reason to keep the chain going they can just drop it.
968  Alternate cryptocurrencies / Altcoin Discussion / Re: What is up with feathercoin? on: June 09, 2013, 08:08:45 PM
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..

someone probably built their own block chain and mined it.  since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain.  The result is a ton of orphans as all the good transactions were wiped out.  Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.

So does that mean FTC is broken / finished - or can they fix things from here?

Technically, it what is described here is true, FTC is not "broken". It is working as it was designed, the majority rules. Therefore since nothing is broken, nothing can be "fixed". (except releasing a fork or such, but then a new 51% attack could occur)

except that the new chain has several fake blocks added to the chain that make it win out.  That is why people had such a hard time getting confirmations and then all of a sudden several blocks appeared in seconds.  What that means is that anyone can come in and add their own blocks claiming all the rewards.  those are fake blocks so they will supersede real transactions so those transactions will be lost.

the majority of real miners will drop out because they don't want to risk getting all their rewards orphaned.  so the only miner will be the fake miner and a bunch of idiots who don't know better.

True, I mean, the majority ruled that fake blocks are allowed Smiley A bad thing Smiley

In this case, as in any case like this, the majority and fake block builders are the same individuals Smiley

when the news spreads FTC will be dumped.

but the majority is not made up of miners alone.  it is made up of participants, traders,   people who transact the coins.  how does this benefit them.  in this case they are dependent on a healthy network developed to protect against these attacks.
969  Alternate cryptocurrencies / Altcoin Discussion / Re: What is up with feathercoin? on: June 09, 2013, 07:55:03 PM
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..

someone probably built their own block chain and mined it.  since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain.  The result is a ton of orphans as all the good transactions were wiped out.  Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.

So does that mean FTC is broken / finished - or can they fix things from here?

Technically, it what is described here is true, FTC is not "broken". It is working as it was designed, the majority rules. Therefore since nothing is broken, nothing can be "fixed". (except releasing a fork or such, but then a new 51% attack could occur)

except that the new chain has several fake blocks added to the chain that make it win out.  That is why people had such a hard time getting confirmations and then all of a sudden several blocks appeared in seconds.  What that means is that anyone can come in and add their own blocks claiming all the rewards.  those are fake blocks so they will supersede real transactions so those transactions will be lost.

the majority of real miners will drop out because they don't want to risk getting all their rewards orphaned.  so the only miner will be the fake miner and a bunch of idiots who don't know better.
970  Alternate cryptocurrencies / Altcoin Discussion / Re: What is up with feathercoin? on: June 09, 2013, 07:51:32 PM
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..

someone probably built their own block chain and mined it.  since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain.  The result is a ton of orphans as all the good transactions were wiped out.  Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.

So does that mean FTC is broken / finished - or can they fix things from here?

Well depends on what the devs do.  They can try to replace the fake chain and that will orphan all FTC transactions from the point they fix the chain until the present.  That will probably require distributing the chain to dedicated miners and making it long enough that it beats out the current chain.  But that means they will wipe out legitimate as well as fake transactions a second time.  Basically the chain is hijacked and the coin is now worthless.  Someone is making a killing on the fake chain
971  Alternate cryptocurrencies / Altcoin Discussion / Re: What is up with feathercoin? on: June 09, 2013, 07:37:23 PM
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..

someone probably built their own block chain and mined it.  since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain.  The result is a ton of orphans as all the good transactions were wiped out.  Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.
972  Alternate cryptocurrencies / Altcoin Discussion / Re: What is up with feathercoin? on: June 09, 2013, 07:20:12 PM
FTC is broken.  You can't mine it.  I was on Big Verns pool and all his blocks are orphaned.  It shows he has 90% of the network as well.
973  Alternate cryptocurrencies / Altcoin Discussion / Re: Bitcoin collapsing, Gold Up on: June 09, 2013, 06:37:54 PM



What? Do you want me to prophecy against the bitcoin?

English?

Anyone who thinks that 'bitcoin' will be anything at all in the long term future, is really stretching their imaginations quite a bit.

Computers or digital, are a temporary phase that will come to an end at some time, but Gold will likely still be around.

If Gold is still around, there will still likely be Gold coins too.

End of Story

974  Alternate cryptocurrencies / Altcoin Discussion / Re: How to design a CoinChoose-resistant coin? on: June 09, 2013, 04:51:46 PM
an unskilled worker blames his tools.  not sure what you mean by "coinchoose resistant"  seems like you don't understand economics or programming.  another nonsense thread on bitcointalk.

Do you understand cryptocurrency?
Since when is it normal to have the network hashpower increase by 500x in a few minutes?

bitcoin and asicminer is a good example.  "since when is it normal"  not sure that equates to cryptocurrencies but it happens alot in regular life.  securities markets are a good example.  company issues a press release and millions or billions of dollars flow into the stock.  are you trying to support an idea to make markets resistance to buying and selling type mechanisms?  Again nonsense thread.
975  Alternate cryptocurrencies / Altcoin Discussion / Re: [ANN] USoin USC – The Coin for American| USC-Better than USD|Launched on: June 09, 2013, 04:47:05 PM
Quote
Coin Generation:
From block 1 to 999, 1500 coins per block. (First 999 blocks had been premined for the purpose of activities on give away, promotion, encourage and reward, eg. for mining pools, block explorer, trading platform.);
Then 1 coins per block, and halves every 87400 blocks (1 year).

Stop this bullshit. If you really want credits, for the reasons you claim, you should change something like getting 0.1% of each mined block reward. So then, if people decide to support your coin, you would get some to keep on building it. You wouldn't know how to change this in the code of course.

+1  keep developers invested in their project.
976  Alternate cryptocurrencies / Altcoin Discussion / Re: How to design a CoinChoose-resistant coin? on: June 09, 2013, 04:34:12 PM
an unskilled worker blames his tools.  not sure what you mean by "coinchoose resistant"  seems like you don't understand economics or programming.  another nonsense thread on bitcointalk.
977  Alternate cryptocurrencies / Altcoin Discussion / Re: Ripple Price: Do you think this is a bubble ? on: June 07, 2013, 07:39:58 PM

I blame this incredibly annoying inability to correctly write and speak English on that stupid film "Honey I shrunk the kids".

Any educated individual can tell you it's "I sank" and "I shrank".  It's "I have sunk" and "I have shrunk".

you are fighting against the inevitable.  celebrate the idiocracy.
978  Alternate cryptocurrencies / Altcoin Discussion / Re: What's your favorite thing about alternate crypto-currencies? on: June 07, 2013, 04:39:45 PM
It's like modern day snake oil sales. Come one, come all! This coin will cure what ails you and get you rich at the same time.

Also the trolling drama. It's like soap operas.

~richgene

coca cola used to be one of those snake oils.
979  Alternate cryptocurrencies / Altcoin Discussion / Re: [ANN] StableCoin ¦¦ A new breed of cryptocurrency ¦¦ Release: June 7 17:00 GMT on: June 07, 2013, 11:14:34 AM
nothing really new  just a few variable changes.
980  Alternate cryptocurrencies / Altcoin Discussion / Re: Coin with un-negotiable fiat value set by algorithm on: June 06, 2013, 07:14:08 PM
We were considering this with eMunie, but couldn't decide between the pro's and con's.  I made a poll thread here and it was a dead 50-50 for a good while until "no" finally took the lead.

There are benefits, but I think we are going to pass, as the long term cons do appear to outweigh the short term bonuses of doing it.

what about pegging to a basket of currencies.  Base it on total exchange conversion.  Well maybe not because it might look like a dollar peg as cryptos are dominated by USD right now.
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