I've got a $25 itunes code for sale. I'll use btcrow.com for escrow. Highest/fastest bidder gets it.

The Bounty is at 100,000 YAC now, which is equivalent to over 1 XBT or $500 USD, as of May 21, 2014.

Thanks for the info, @smooth  That makes sense.

Also, it seems the address has ceased to accumulate more YAC's. However, the person/group that owns the address may have just decided to use another address too.

Yes, unfortunately Yacoin has some major bugs. The developers are working on it. There is a dev fund for anyone who could help with it.

There are simply too many coincidences involved right now for this not to be a con job. Please constructively criticize me. I'm interested in what's best for Yacoin.

What has happened:

- YAC has been flamed, FUD'd, trolled for a while with no real justification.

- DOS attacks on mining pools

- Cryptsy has removed YAC without adequate explanation

- At least three million YAC's have been purchased by one entity/group: http://explorer.yacointalk.com/address/YPGNWtN4gHFDQUvU9eC8Xzss5JCyT1ozmv

- Coinmarketcap.com has only listed YAC sporadically

- Network hashrate has increased dramatically

What might happen:

- A serious Pump and Dump, which might be good for YAC in the long run.

- Major attacks intended to break YAC. It's really the best cryptocurrency yet invented, and many people don't want to see it succeed and offer financial freedom and privacy. This attack may not occur until after a few weeks when they've generated sufficient coin age

What you can do about it:

- Spread the word

- Buy YAC

- Solo Mine

- Especially important: POS mint

Thanks!

Where have you been all my life?

I think, out of all of those, Time Travel is the most valuable. Unfortunately, it seems none of them can grant immortality.

Time Travel can help someone become very wise and very influential. It would be a very difficult burden to have influence over the flow of time. Imagine all the moral issues.

Thanks for this interesting post!

For anybody that hasn't heard of Yacoin before, I'd like to talk about my experience with it.

I have a few old(ish) computers that don't have good gpu's, so I haven't been able to mine with them.

But...

A few weeks ago I was looking at all the coins that have PoS as a feature (like Peercoin), and I discovered Yacoin. After reading about its special mining algorithm, I was very intrigued. I was glad to learn that it was based off of Novacoin, because I heard that Novacoin had the best code design of any cryptocurrency. Unfortunately, NVC's inventor made some suspicious bribes with BTC-E.

I've said it before at Yacointalk, but I think Yacoin is one of the best investments because it inherits Novacoin's code, yet it had a fair launch. PLUS, it has the best PoW algorithm. It changes its own memory requirements so that custom hardware (like ASIC's) won't be very effective with it. That will be good for its decentralized adoption

This program is really good for mining: http://yacointalk.com/index.php/topic,264.0.html

A few days ago, once YAC's price jumped higher than a quarter, I realized I had already made more than a hundred bucks mining Yacoins with my old desktop.

Hey, I'm Cypherious on Yacointalk

Gimme some YAC
Y9GpSn5idwjnmQz6ub3cwNGBoyFnwbsbBk
HwDQrvyZ3hl6Dn09cl4SFzx9JC554wIrAcpivb5QGYcF8CSfj7gIV7HOm5ai5qNewelhfBFj+DXrqvK2k9+Fi/4=

I hope everybody will recognize that this guy went on to publish Yacoin.

He didn't premine! 

(Too bad he disappeared)

(that's okay cause we have a few other dev's)

 

Hey everyone.

I bought this domain a few months ago, thinking I would build a website with it.

My plans have changed, and I'm looking to sell it for a decent amount.

I am willing to sell it for any cryptocurrency sum totalling 0.1 BTC at current rates. (But, of course, I'm willing to negotiate)

TheCoinUpdate.com and its corresponding twitter account can make for a great cryptocurrency info/news site.

PWsieDv55YbVpR8dpU96EQPx5RQsNWYh3t

PWsieDv55YbVpR8dpU96EQPx5RQsNWYh3t

Okay seriously, why are they trying to close?

Maybe they have no intention of closing. They just want to cash in with whoever wants to take over.

+1

Not to mention all the special things that altcoins can do / will be able to do.

Using btc.sx, I leverage traded 2 BTC's.
It was that night that Baidu announced their acceptance of Bitcoin.
The price dropped a few dollars before it continued climbing.
I didn't realize that if you hit the stop price, you lose ALL of your investment.
I still haven't recovered that back.

1wd.org sold

In reply to Vorksholk:

Thanks for your informative post. I just want to add a few more ideas I have to the discussion.

I think it is quite possible for someone to invent an asic for almost every possible hashing configuration we can think of. Even when switching the order or behavior of hashing functions, it may be possible to create a microcontroller that allows an asic to be dynamic enough to work. So long as we give miners the incentive to mine, they will invent more efficient ways to do it.

I think it is very healthy for the world to have many different cryptocurrencies that each use different hashing algorithms or combinations thereof. Thankfully, with the invention of Proof-of-stake, even very small currencies can resist 51% attacks, so it is no longer an issue.

I am very confident that humans are smart enough to crack every kind of mathematical mystery, whether it be cryptographic hashing functions or even prime factorization itself. It becomes easier to understand SHA-256 when we can leverage the data created by the miners continuously using it. It will probably be only a short time before it can be compromised.

On the other hand, I am sure that humans are smart enough to find new, secure cryptographic methods. Whoever is too slow to adopt the new technologies will find their obsolete bitcoins worthless.

Maybe I am being too cynical. Perhaps it will be possible to migrate the current bitcoin blockchain and userbase to newer technology while preserving their assets.

I'd love to hear more thoughts on all these issues.

Ehem.

I don't believe these cryptocoins chose to use multiple hashes in order to avoid 51% attacks. I believe the security of using multiple hashing algorithms is the security from the difficulty of mathematically understanding the algorithms themselves.

No matter how much hashing power the Bitcoin network attracts, there might always be some smart cookie that successfully cryptanalyses SHA-256. It is quite possible that someone will be able to understand the algorithm enough that (in the best case) they can mine blocks without needing a computer, or (in the worst case) they will sell their knowledge to anyone interested in shutting down the bitcoin network. It will be simple to do so, because almost all of the security of the currency relies on the complexity of SHA-256.

Also, in regards to the opinion that making a 51% attack against bitcoin is so difficult as to be impossible, I offer this rebuttal:

ASIC innovation means that, at least right now, anyone with a few million dollars can purchase enough processing power to SHUTDOWN bitcoin, especially when considering that most miners will leave as soon as they are unable to compete profitably. You see, because the POW system of bitcoin relies on the profitability of mining to attract computing power, it will inevitably become centralized. Remember the countless cases of corporate monopolization that have happened. Anytime competitors came along, the big fish would swallow them up by buying them. These kinds of situations can only be stopped by governmental intervention, but there is no government interested in protecting free bitcoin users.

This is to say, we should never put a price tag on security. There is always someone willing to pay enough to control other people. In order to have real security, we must rely on technological innovation.

Also, POS systems seem to be more sane approaches to security because, by design, the holders of POS currencies are the ones that control it, NOT miners. Yet, fundamentally, they are still susceptible to monopolization, but at least 51% of the users' money will already be sold before its too late.