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Alternate cryptocurrencies / Altcoin Discussion / NFT's are a bigger scam than LUNA/UST
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on: June 12, 2022, 04:41:38 AM
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The actual content of the NFT, such as a piece of art, is rarely stored on the blockchain. The reason why the content (such as a JPG, MP3, or Gif) of the smart contract associated with the actual NFT is stored on the web and not the blockchain is because of the size and cost. So you don't really own a piece of art. You own a piece of metadata describing some art that is stored on a centralized server. Those servers will, inevitably, eventually go down, be hacked or bought out so the owners of an NFT will, in the long run, own nothing but some metadata pointing to a defunct site.
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Alternate cryptocurrencies / Altcoin Discussion / Warning $LUNA supply now 6,534,892,879,872
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on: May 13, 2022, 01:31:22 PM
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That's right over 6.5 trillion coins were minted, most of it in a single day, to try to backstop $UST. So any coins you held historically are, I'm sorry, essentially worthless. With the blockchain halted, any speculation you do should take into account that prices will be in the satoshi range, or less, for pretty much the entire future of this coin. It cannot come back. https://terra.smartstake.io/history/365
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Economy / Speculation / Epic buying opportunity
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on: November 20, 2018, 12:10:54 AM
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Once in a while, a great opportunity comes along to acquire more BTC. They don't last long. We are in that moment now, with prices nearly 75% off the peak.
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Alternate cryptocurrencies / Altcoin Discussion / MyEtherWallet wants access to browsing history? WHY?
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on: April 04, 2018, 12:42:18 PM
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Noticed that Chrome disabled MyEtherWallet extension because it now needs permission to see browsing history. That seems like a HUGE security hole for a crypto, since, among other things they could potentially log who you are and what acccounts you use online. Was this inadvertent by the devs or will the wallet now require it? Seems to render it useless.
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Alternate cryptocurrencies / Altcoin Discussion / Who are the dummies buying coins as soon as they come out ?
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on: July 09, 2013, 05:02:22 PM
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It seems that for every slightly innovative new coin there are a swarm of naive "investors" willing to pay a 50x premium for the coin relative to where it will ever trade on an exchange.
Why do they do this? Is this a form of charity?
Or are they just dumb ?
Latest example is primecoin. Why are people paying 10 LTC for coins that some guy minted in one night on an i5? Guys - the value of that much compute power is maddeningly close to zero. You're getting ripped off
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Bitcoin / Bitcoin Discussion / ASICS killing BTC ?
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on: July 03, 2013, 02:09:12 AM
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Seems that ASICS is have a detrimental impact on BTC.
(1) A huge amount of hashing power is now in the hands of companies that can stamp out one set of chips after another. Few seem to make it to retail (i.e. BFL)
(2) Most of the former GPU miners, once a large support base for the coin, have lost interest due to the BFL fiasco and the fact Avalon shipped only a tiny number of retail devices
(3) Concentration of network power in the hands of a few is a disaster. Precisely the opposite of what BTC was supposed to be all about
(4) Raw gh/s figures are irrelevant given that only a tiny number of firms have ASICS designs. THESE COMPANIES NOW EFFECTIVELY CONTROL THE NETWORK
LTC is looking very strong right now. Holding its USD value as BTC falls.
The two may meet in the middle
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Alternate cryptocurrencies / Altcoin Discussion / All new coins with a "bounty premine" are worthless
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on: June 01, 2013, 03:21:29 PM
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You can take that "bounty premine" and shove it up your a** because I'm not buying any damn coin that has a 10k, 100k, 500k or whatever premine for "bounties"
If you want your coin to succeed, and you are serious, pay the bounties in LTC. And, also, be prepared to spend 10 BTC minimum to establish an initial market for your coin.
Memo to developers --> Show us YOUR money and YOUR investment into the coin or go home. Changing a few parameters and compiling a windows client isn't going to earn you one red cent
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