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Just past 48... There we gooooo!
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Il the last 2-3 days, we've seen a major raise in global hashrate. Could it be ASIC from BFL?  |
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So, every altcoins seem to have had some glory lately, but now they all seem to go down in prices. Even LTC is getting kicked  On the other hand, BTC seem to be ready to make a new run for it |
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Well, I had hope for it the last 2 days. buy/sell has raise to .00037/.00048. However, the last few hours, there seem to have more people who have abandoned ship (dumped) at .00037 that there is who bought at .00048.
It's still profitable to mine though... Just not worth buying/stocking in hope that the price will rise soon...
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Finally, there's more TRC miners than the coins worth...! Coin Algo Blocks Difficulty Reward Price (BTC) % Profitability of BTC
Bitcoin SHA-256 226030 4847647.1520656 25 1.000000000 100.00%
PPCoin SHA-256 37119 36996.238 897 0.000450000 211.56%
Terracoin SHA-256 90411 16681.557 20 0.003850000 89.50%
Maybe the PPC will start having more trades! |
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TRC had a huge raise lately. PPC however raised at a much slower rate. Do you think there will be a PPC-mania?
Profitability are similar between both currencies... And often higher for PPC.
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It's still not up from the blockchain fork. That site really suck... And they have some of my coins in hostage during that time... Can't do anything but stare at the main page and a message that the transactions are down...
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One miner on terracoins have 51%+ power
As of now, global hash rate is 51.4270GH/s
One miner, on Coinotron is hashing at a rate of 45.813GH/s
Is it bad? Probably he's not malicious, but he could if he wanted...
Edit: Ah, he just left!
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Whoa... Prices dropped suddenly, what's happening?
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Hello
I had an idea, I don't know if I'm totally wrong or if it make some sense...
Why in the first place do we need 6 confirmations to accept a transaction? That is, the first confirmation comes when a transaction is hashed in a solved block. Then when you find another block, since the block are chained and the new block hash is partly based on the previous block hash, this validate the previous block, and thus validate the transaction (2nd validation). And so on...
So, you need to have:
- Your transaction getting inserted in a block, which block happen to make it to the blockchain (header hash is a solution). This can take a while, even several blocks until it get into a block.
- After that, 5 blocks need to be found that are chained to that last block.
The second criteria I guess is to prevent against possible orphan block for example, in which case the transaction has to be validated in a block from the main chain.
Ok, so, 6 blocks look like a quick way to ensure that the transaction is validated. However, when validated once (1 confirmation), why would it become invalid? As said, orphan blocks. But are there other reasons?
Now, as I understand, orphan blocks occurs when 2 different party find a solution at almost the same time based on the same previous block. Both block will fight on the network. Eventually, a solution (a 'next block') will be found based on one of those 2 blocks. When sent to the network, that block will make it's predecessor part of the main block chain, and the other block an orphan block.
So, the chances to have several successive blocks fighting in parallel is pretty low. And if after 5~10 minutes, everyone agree that only a single block is found (no potential orphan block), why not detect this and say that the transaction is valid?
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In Canada, the only real exchange for us is the Canadian Virtual Exchange (caVirtex). However, a year ago they raised their BTC trading fees from 0.5% to 3% (2.5% if you have 100BTC transaction in the last 120 days, 2% if you have 300 BTC transactions, etc) based on dodgy basis (to supposedly cover their fees for trying to establish with the government laws/paperwork). So us, Canadian, really get stealing fees. So, it's really bad for trading, especially if you want to buy and sell later (or the inverse) and make profit. You basically can't do short term trading since this need BTC to fluctuate like 5~10 points for any profit to be made. Most other exchanges have like 0.X% fees. Mt. Gox base fee is 0.6%. Now that they (Gox) are coming to North America, and promise easy trading for Canadians too (even if in USD), caVirtex will eat their shirt  ... finally... |
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