So now that everything is down another 25-50% am I making a valid point?
no no you dont. You think the USD goes down because some country made (printed) more money? You can buy anything with USD, Zimbabwe printing is not going to effect it. That is my point. In the cryptocurrency marketplace BTC is like the USD. You can buy the most stuff with it. Some no name alt coin is not going to effect it. It will however effect other no name alt coins. You can't buy stuff with all these new alt unless you convert, they are basically all diluting the same pool. |
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So now that everything is down another 25-50% am I making a valid point?
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LTC dropped from 0.0325 to 0.0245 recently, you haven't noticed that?
It has and to be honest I am a little dissapointed in LTC performance the last couple of weeks but it is only really dropping vs BTC which has been trending up. In USD it is only down 15 cents. |
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Experimental currency, read your own link perhaps? I have already covered this claim in other threads. I know what GeistGeld is, I'm aware that it was labeled an experiment. A few words doesn't change the fact that it was still done before. That isn't my point though, my point is that a coin with nothing new has extremely little chance of survival. I wouldn't say extremely low. Litecoin didn't innovate, but look where it is now. What Litecoin did was find markets so you can buy and sell with it. That is why it is worth so much compared to all the other Alt-coins and that is why BTC is still worth more then LTC it has a larger marketplace from which to spend your coins. Everyone seems to be fixated on the technical aspects of the coins but this isn't what is ultimately going to provide lasting value to them. They need to have markets other then just being traded for other crypto-currencies. If that is all they are good for they are speculative value only and their value will go poof as soon as the speculators move onto something new. |
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If the exchange does not trade in USD then the US has no authority to regulate jack squat. Easy solution
It would be nice to have an easy way to convert coins to fiat currency and back though.
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This is why you're a joke, Mooc. You keep posting the same shit over and over. Everyone already knows it, no one cares.
I'm sorry I hurt your widdle feewings by pointing out the fact that you're too stupid to realize that we didn't need new benches to be able to to assemble our units and could use the old ones. I figured any 6 year old child would be able to figure that out, I had no idea you didn't have the cognitive capacity of a pre-schooler.
Haha, as the saying here in my mother country goes: Sounds like someone got up from the bed on the wrong side this morning... Time to turn that frown upside down  It may look like this douchebag is actually angry, but that is not the case. It is a trick of a scam artist. He merely feigns anger to distract attention from the fact that he's lying and refusing to answer questions by putting attention instead on what a douchebag he's acting like. If attention is shifted to Josh being a colossal douchebag, which in fact he is, he deflects attention from the fact that worse than that, he's a thieving piece of shit. My thoughts exactly. Use a personal attack to change the subject. Seems to be a lot of sociopathic behavior coming from BFL |
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This is why you're a joke, Mooc. You keep posting the same shit over and over. Everyone already knows it, no one cares.
I'm sorry I hurt your widdle feewings by pointing out the fact that you're too stupid to realize that we didn't need new benches to be able to to assemble our units and could use the old ones. I figured any 6 year old child would be able to figure that out, I had no idea you didn't have the cognitive capacity of a pre-schooler.
You should be answering peoples questions instead of making personal attacks. Who cares if you think they are stupid questions. Your the one that is 6+ months behind. I considered ordering from you guys. Glad I did a little more research first. |
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I had the same thoughts as OP.
Now I found that they do not affect BTC or LTC at all, altcoins are just a quick way to "scam" BTC and LTC out of greedy traders that want to be on the top of the bubble when it bursts, some end up at the top and some at the bottom of the bubble.
Exactly. BTC and LTC are holding strong. That is because they have markets and it isn't just speculative money invested. Pretty much everything else seems to be in a down trend. |
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The people mocking my post are not making valid comparisons. Also they are making assumptions about the level of understanding I have of economics.
I think they feel they need to defend their actions but I did not mean this as an attack on anyone in particular. I also have jumped on the alt coin band wagon with FTC and even mined CNC a little even though I was skeptical. After that though it started to get ridiculous and I could see where we were headed.
As for the Alt metals example. It is not a fair comparison. Every metal has different characteristics that distinguishes it from the others. Iron is not a suitable replacement for Gold and vise versa. Also even though you can mine more metals you cannot create new ones, the supply in the ground is unknown but finite. You can create alloys but in order to make steel you have to use up iron. Does CNC's creation use up another coin? I didn't think so
With crypto coins, anyone can come along and create another clone and say it is "original" with just a few tweaks and add more to the total supply. It might soar in value for awhile until the hype wears off and a newer "better" coin comes out the next week.
IF these coins are to distinguish themselves you need to be able to buy other things with them other then another crypto currency. Otherwise they are speculative value only and like I said the new ones are basically inflating the overall supply.
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Don't know if this has been discussed much but the real reason why most of these Alt coins shit the bed recently isn't due to hasrate drop off or band wagon hopping or any other nonsense. It is a supply and demand issue.
There is only so much money out there that is going to be used for speculation and every new alt coin that enters the market at this point is basically just inflating the supply of coins and causing inflation just like with fiat currency.
One of the strengths of a crypto currency is that the supply is limited. This is great if the coin can actually be spent and has vendors like bitcoin and litecoin but with the alt coins it is only speculation that gives them value. It is the same pool of money that is treating the Alt coins as one group so every new coin is adding to the supply of coins and basically making them worthless. Older Alt coins are also getting dragged down and hurt by the ever expanding supply they have to compete with.
Of course people that want to make a quick buck can't help but make new coins in a pump and dump scheme.
Unless some of these Alt coins find markets for themselves they are only good for a quick trade when they first come out and there is hype. After that they will end up like FTC, CNC and the others.
Only Coins that can find a market will have lasting value.
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Something weird is going on with TRC pool. My hashrate is about half what it should be and round shares are frozen. Does not seem to be updating.
My miner is showing shares being accepted though.
Is this still an issue? No longer seems frozen. Might have been a short term glitch. Also is the BQC pool working correctly? I wanted to give it a try but noticed that no blocks have been found and the hash rate has been 3-4 MH/s all day. Just really bad luck? They should be getting a block about every 2 hours on average. I tried solo mining BQC and some other pools and was getting more stales then accepted shares. Don't know if this is still an issue. I'm not sure what's going on with BBQ.. Edit: To expand, there aren't any coins (or even transactions) in the wallet, which means there haven't been any blocks found for sure. (it's not a case of blocks being found but not making it into the db.) It's possible that there is some non-obvious problem between bbqcoind and stratum.. It's pretty far down on my list of things to investigate, pool-wise, though; maybe given that, I should just shut down the port. Yeah there is something going on with the client I think. Left mine running all night and it stopped updating and is 7 hours behind. Tried restarting the wallet and now their is a block index error that won't allow the client to open. |
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Something weird is going on with TRC pool. My hashrate is about half what it should be and round shares are frozen. Does not seem to be updating.
My miner is showing shares being accepted though.
Is this still an issue? No longer seems frozen. Might have been a short term glitch. Also is the BQC pool working correctly? I wanted to give it a try but noticed that no blocks have been found and the hash rate has been 3-4 MH/s all day. Just really bad luck? They should be getting a block about every 2 hours on average. I tried solo mining BQC and some other pools and was getting more stales then accepted shares. Don't know if this is still an issue. |
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Something weird is going on with TRC pool. My hashrate is about half what it should be and round shares are frozen. Does not seem to be updating.
My miner is showing shares being accepted though.
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TRC Hashrate at zero now. are you just messing with the code like with the LTC pool? Pool is operating OK?
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PMC - PreMinedCoin
We have a winner! |
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Been getting a lot of stales. 2 accepted and 4 stales so far. Anything I can do about this or is it normal?
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OK finally got a block. Took about 2 hours though. then I received another in about 5 minutes. Bad luck at first I guess.
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Still no shares.
Just so I am clear.
Are the shares different when solo mining then when using a pool? When you get a share solo mining is that finding a block?
Yes, an accepted share is finding a block. A block will be 42 BQC. OK it must be working then. Will let you guys know when I find my first block. Thanks for the help everyone. Hopefully I will be able to return the favor when I am a bit more competent at this stuff. |
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Just a word of advice for any new members, for your own security please download the blockchain yourself using the client, I know it takes time but it is worth it for security reasons.
Thanks for your help yesterday Chadd I had to leave so couldn't finish dealing with this until today. Good to know that you and others on this forum are looking out for us newbs |
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