Can we see some photos of this 10th/s please?
Hmm I suppose you cannot just take our word for it eh. We don't do the mining, it's done through a 3rd party who currently wants not to be named (for various reasons I cannot get into). I can assure you its a very reputable mining operation. |
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Cryptsy now carries mining contracts. https://www.cryptsy.com/currencies/view/139Mining Contract 1 DescriptionBitcoin Mining Contract #1This is our first issuance of mining contracts for Bitcoin with a total hashing power of 10Th/s. What is a mining contract?For this offering, we have 10 Th/s of hashing power dedicated to mining bitcoin which is part of a much larger network of hashing power. This means more consistent payouts of blocks mined. Every day, users who own shares of this will receive 1/10000 of the payout for each share owned. Users can buy any number of shares available (each share represents 1 Gh/s of hashing power). These are lifetime shares, which mean they never expire. How much do I get paid and when?The 10Th/s total hashing power is part of a network of over 1 Ph/s. On a daily basis we calculate and distribute to users who have shares of this contract 1/10000 of the total contract payout to each of the shares. If you own 100 shares, then you will receive 1/100 of the total contract payout. Can I sell my shares? Yes, once the initial allocation of 10,000 shares are sold we will open the market to allow anybody to buy and sell their shares. Mining Contract 1 Specifications10 Th/s Total Mining Power Lifetime Contract - Payouts on this contract never end Available in increments of 1 Gh/s Total Shares Available: 10,000 Initial Price: 0.0185 BTC Each No Trade Fees Until Initial 10,000 Shares have been disbursed Daily Mining Payouts Directly To Your Cryptsy Balance |
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...anyhow crypto will continue to grow evolve and explode.
Just playing devil's advocate here, but "so says the guy who owns/runs the exchange where all the clones are traded..." I just work there  but yes I may be biased a tad. |
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Regardless of how "amazing" the technology is or how loud the 'dev' is, all the alts are all worthless in the long run.
Why all, even innovative ones? See the auto industry pre-WW2 in the US for why. Some produced arguably better cars than their counterparts, but as the market decided, only a handful emerged on top. If you think that any currency that requires technical know-how, GPUs, and a cheerleading 'developer' to keep it afloat will ever replace real-world currency you're either mislead or overly pragmatic. Yes, there is a market for additional coins rather than just Bitcoin--but if the primary use of the coin is to convert it to Bitcoin (which is then generally converted to cash) then there is no real point. "Franko" is a great example of this exact paradox. It has an active group behind it pushing for its adoption and a very loud and respected 'dev' who continually works to maintain its image, yet in the end its just another version of something we already have. The crypto currencies that will survive and be adopted need to lower the bar for entry and in addition need to have enough usage (read, mining) that their networks are secure. Sticking with my example, Franko has a great vision, a great 'dev,' and is sort of useful for things--but its network could fairly easily be overtaken by a GPU farm and there in lies the crux of the problem--as markm is always pointing out, if you put your money in to something for the long-term, it should be secure. At this time, I'd say only BTC/DVC/NMC and the other merge-mined coins have an edge and its because ASIC devices are permeating the marketplace (even though the primary reason for them is Bitcoin). Hey, take what I say with a grain of salt--I know you'll all cry, "this is only the beginning for crypto," I disagree. Again I totally disagree at the inside Bitcoins conference in NY I heard and saw many great examples of why Crypto works. First worldwide smartphone adoption http://www.emarketer.com/Article/Smartphone-Users-Worldwide-Will-Total-175-Billion-2014/1010536 people might not have computers but they will have smartphones and all you need is a phone to trade any currency. Second in many countries around the world you can see great examples of why Bitcoins/crypto is needed and being adopted. Blockchain CEO Nic Cary gave some great global examples you can read here http://www.coindesk.com/blockchain-ceo-nic-cary-global-stories-highlight-bitcoins-value/ anyhow crypto will continue to grow evolve and explode. |
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Regardless of how "amazing" the technology is or how loud the 'dev' is, all the alts are all worthless in the long run.
Actually they are worth what someone will pay for them so each is worth something many a significant something. I already made a post on the hows and whys and included it for reference. Had an opportunity to preach on alt coins quite a bit at the Inside Bitcoin convention in NY City. Met lots of Bitcoin purists who just had no taste for alternative coins and plenty of alt coin lovers all with great and unique ideas. A few altcoins were well represented at the conference eMunie had a booth on the floor, DOGE coin (of course), Bitshares folks, Florincoin just to name a couple of them. Figured I would share why I think Altcoins are important to Bitcoin. Altcoins are a grand experiment a giant lab where tweaks and changes to the blockchain give live (mostly) working examples of how a blockchain can work under different conditions. Why this is good is it shows us ways Bitcoin can if needed adapt and change. Let’s take the androidtokens 2.0 or the protoshares snapshot for example. Both are unique ways to completely abandon a chain and begin on a new algorithm new chain while users retain their holdings. Now whether or not you agree with how it was done the fact that they accomplished it shows that Bitcoin itself could if needed do something similar. DOGE coin is an amazing example of a coin that I for one discounted early on but now find very intriguing. Not because of its innovation but its community. DOGE has made crypto hip. I think many see Bitcoin as a computer nerd or investors game right now and it is hard to get folks interested unless you talk numbers. While DOGE many in that community only know about crypto because of the coin name and meme. Pretty soon we will have a NASCAR driving around the track at Talladega http://gas2.org/2014/04/09/dogecoin-nascar-livery-chosen-much-black . Like it or not this is VERY powerful. The Bitcoin community could learn from this example. |
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This is why scrypt/sha256 sucks, and you need N-factor/jane or another algo.... to protect the network from asics that can come in and 51% a coin at will.
How easy is it to get a 100MH+ asic?
How easy is it to do the same thing with GPUS?
Gpus / Cpus are MORE SECURE then Asics, because it is incredibly difficult to centralize and command that much hardware to allow you to 51% a coin and double spend.
The mega banksters already have skyscrapers full of Asics, no point in even competing on the same networks as banks, and thus coins that are operated on Asics have become centralized garbage just like the federal reserve.
Asics are like a plague on crypto.
All future coins will be memory intensive coins...... all the asic friendly coins will simply be mined to death by one dumper with towers of chips.
Really doesn't matter the algorithm if the network is small. Plenty of N-Factor/Jane coins have low network hash rates. ASIC's are not the issue many of us have enough GPU's to do the same thing. Problem is does it make a difference? They will hard fork before the double spend and carry on. All the major exchanges will catch this activity before a payout and rollback as well. |
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As a result, the value of Dogecoin has shown a progressive sapping of value over time despite the active passionate community, daily major media coverage, dedicated devs and strong positive mind share in that part of the general public aware of cryptos. They have managed to bring segments of the population (women, older people) into crypto who might not otherwise have paid attention. None of this helps their valuation.
These seem to have the same problem.  |
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If you believe BTC price will go up then you believe LTC price will go up (most alts for that matter as they follow a similar trend)  The left is LTC/USD the right is BTC/USD as far as manipulation I definitely don't doubt there is some. A great takeaway I got from the inside Bitcoins conference in NY was. That Urban outfitters has a 5.2 Billion dollar market cap....... Bitcoin itself has a 5 Billion dollar market cap........ Kinda speaks for itself. |
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Had an opportunity to preach on alt coins quite a bit at the Inside Bitcoin convention in NY City. Met lots of Bitcoin purists who just had no taste for alternative coins and plenty of alt coin lovers all with great and unique ideas. A few altcoins were well represented at the conference eMunie had a booth on the floor, DOGE coin (of course), Bitshares folks, Florincoin just to name a couple of them. Figured I would share why I think Altcoins are important to Bitcoin. Altcoins are a grand experiment a giant lab where tweaks and changes to the blockchain give live (mostly) working examples of how a blockchain can work under different conditions. Why this is good is it shows us ways Bitcoin can if needed adapt and change. Let’s take the androidtokens 2.0 or the protoshares snapshot for example. Both are unique ways to completely abandon a chain and begin on a new algorithm new chain while users retain their holdings. Now whether or not you agree with how it was done the fact that they accomplished it shows that Bitcoin itself could if needed do something similar. DOGE coin is an amazing example of a coin that I for one discounted early on but now find very intriguing. Not because of its innovation but its community. DOGE has made crypto hip. I think many see Bitcoin as a computer nerd or investors game right now and it is hard to get folks interested unless you talk numbers. While DOGE many in that community only know about crypto because of the coin name and meme. Pretty soon we will have a NASCAR driving around the track at Talladega http://gas2.org/2014/04/09/dogecoin-nascar-livery-chosen-much-black . Like it or not this is VERY powerful. The Bitcoin community could learn from this example. Rather than ramble on and on figure I’ll see if others have some good examples of how altcoins might help drive Bitcoins future. Maybe we will get a productive thread going Yes this thread will be moderated so try to keep it on topic and productive. |
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Yes we can recover some coins sent in this fashion there are situations where this is not the case. You will get your coins more than likely but yes its slow. As we cannot just hand out the secret keys the coins recovered in this fashion can only be done so by certain individuals. Any automated solutions must be tested thoroughly. Sorry for any delay.
Thanks for your answer. What made me mad was how the timeframes I got were all over the place, I was promised this to be resolved in 72 hours initially. I know it was my mistake, but I feel a month is way too long. Also I'm not alone waiting over a month: http://www.reddit.com/r/dogecoin/comments/22evjc/a_month_ago_i_sent_100k_doge_to_a_digicoin/cgm5fg5Is the amount of users doing this mistake so high that doing this manually is out of question? The Tier 1 agents don't always know how long these things take. More than likely they believed that to be the case unfortunately this particular issue just takes some time..... We will get you squared away though. |
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Yes we can recover some coins sent in this fashion there are situations where this is not the case. You will get your coins more than likely but yes its slow. As we cannot just hand out the secret keys the coins recovered in this fashion can only be done so by certain individuals. Any automated solutions must be tested thoroughly. Sorry for any delay.
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Is anyone else having problems getting on to cryptsy, haven't been able to get the page to load at home for 24 hours, no problem getting it to load from the office though? almost like my home ip address is blocked? any ideas?
Thanks
PM me your IP it is unlikely your being blocked but I can sure take a look. Might try clearing the cache on your computer as well. |
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Alright, let's move on to the next topic... Paid "votes" (bribes) to add new coins! One of my favorites! I LOVE this quote from Paul: “We have to listen to the majority; try to get a sense of what people like. I wanted to add some transparency of how we added coins.” Personally, I don't see how a single person spending BTC on votes for a single coin is listening to the "majority"... At least they did put the bribes out in the open though.  I replied to this in the other thread. Coins paid and unpaid voting in our opinion shows financial backing for a coin. If you'll spending money voting for it you'll likely also provide services and care and feeding for the coin. It also seems to be a good indicator of potential volume. It does little for the bottom line honestly it does however pay for the costs in adding the coin. What system would you propose? I don't think there is a best way, but I do feel this one provides a disincentive to keep building clone coins with no financial support. |
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@everyone
People notice how not one single legit dev that made an honest coin has stuck up for me or the cause or against clone coins in any way ?
i have never seen one of them stand up and say anything against them i can recall EVER.
so what would that leave you to believe ? hmmmm
There is NO legit devs.. other wise they would be standing up against the garbage that is screwing them over.
Bottom line.. they have to compete with scam coins so why are they not speaking up ?
as usual i expect no real response.. mouthy cowards will just troll more and dodge addressing any real issues and play stupid little games about it.
The problem with that argument, if you truly believe it, is why are you invested in any cryptos at all? If you believe there are no legit devs anywhere, maybe put money in a mutual fund, gold, silver, something else? One reason I think legit devs don't complain against shit coins is the fact they believe in a free market. Which is the argument many people here believe in. They also don't believe in censorship or centralization. Even if we said, okay, let's limit the number of shitcoins coming out ... how could it possibly be done in a fair way? It can't. And it's probably not even possible to begin with. A 'select' group of oldies choosing? That would cause more problems than shitcoins. One problem is the fact that many old accts here made their own shitcoins, and just having an old account here doesn't necessarily make the person an expert to begin with. Bias would be a problem for any group making a good/bad list of coins. A simple ex. A member who supports this group posted his own scamlist thread in this forum ... he included DarkCoin as a scam, because it was 'racist'. Umm... okay... The only way shitcoin numbers could be reduced, at least in impact, is if exchanges limit how many they list. I assumed Cryptsy would be more particular, for instance. Yet they, and MintPal, seem to be going with the: 'pay us the most money, and get listed, regardless of how bad the coin is'. That is a problem, but no way for users of exchanges to really change things, besides voicing their opinions, that is. And as for Doge, strangely their devs set the coin up to be used as a currency more so than many more established cryptos. I find the entire meme thing a bit moronic, personally, but that still doesn't mean Doge may be one of the cryptos left standing at the end. Posted this in another thread but probably relevant here also. Paul did a great interview the other day talks a lot about some of these current questions. http://www.coindesk.com/cryptsy-founder-paul-vernon-worthy-altcoins-pre-mining-compliance/also if you haven't heard this episode of Lets talk Bitcoin we break down a bit more of our stance on things. https://www.youtube.com/watch?v=hAE8rDQ4tk4 |
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Shall we start the discussion around Cryptsy employees creating "shitcoins" that automatically get added to the exchange?
Let's start with CASH...how much volume does that do each day? What makes it different from the 500 other coins out there?
This is the canary in the coal mine, any legit business tries to maintain some level of respect. Cryptsy has no such model. They are business planning in the basement of an unfinished house with stubbed power to their server that is locked with a house lock in the back corner of the room. It smells like beer but it is really the piss from the dog that was locked in the basement for three days when the owner forgot about it during a meth binge a month ago. Drive on down to FL take a tour I think you'll find the offices and data center to be more than exceptional. Then take a drive to the other alt exchanges and check out their offices and meet their staff....... |
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I think the reply i would hope to get off of the last comment i made is whether or not scammy clones affect legit coins or not. Some people may think NO they don't have any real tangible effect and i of course do think so and in a few ways.. At the very minimum the legit coin devs will have no choice but try and vie for attention in the ANN forum section with clones being posted non stop pushing their honest coin to page 40 or what ever. See what i am saying ? and i think it goes WAY beyond that to.. Rather than having new people across the world exposed to Crypto via Doge coin's greedy much profit meme.jpgs and moronic spam comments, the new people out there could be drawn in and exposed to a currency that is taken with a degree of seriousness and honesty. Are we attracting the right kind of people ? Ones that will work on the code to make it better or bring a level of professionalism or at least maturity to the scene ? We want people that speak like idiots being the face of Crypto across the web on non-crypto sites posting stupid childish gibberish with picture like below.. The face of Crypto right here guys..  Wow you sound so butthurt that people are putting money into dogecoin. Quit your bitching,holy shit. I am a Doge convert I said some oh so not nice things at first about it in private, but its proof a community is the most important piece of a cryptocoin. Doge has brought more to Altcoins recently than any other coin. http://www.foxnews.com/leisure/2014/03/27/much-speed-digital-currency-dogecoin-sponsors-nascar-driver-josh-wise/https://www.youtube.com/watch?feature=player_embedded&v=gmt0tJlLOOghttp://www.npr.org/blogs/thetwo-way/2014/01/22/265060754/wow-dogecoin-other-donors-send-jamaican-bobsled-team-to-sochiCall it what you like (I did) but currently I call it a success story. |
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