But it is not growing. Nobody is going to take a meme coin seriously and you expect some major brands or companies are going to accept some dogecoin? This argument applies equally to Bitcoin. The only reason it looks as if it doesn't is because we are like wee sardines in a tin and there's one big sardine in it. Meanwhile out in the "real world" they're dining on whale, squid, haddock, shark, cod, ling and sole. From out there, all the sardines are still in the tin and they all look the same. Altcoins aren't sardines, they are parasites leeching off the one sardine. (bitcoin) Mass adoption in Bitcoin as a store of value will lead to niche market adoption of alts as currencies because bitcoin simply isn't remotely equipped to serve as a currency on a day to day basis for many markets.
For a start, it's not stable against fiat - some alts are. It's slow as f*ck to confirm - some alts are fast. It's expensive and deflationary if you need a lot of liquidity - many alts are not. It doesn't natively support digital assets - some alts do. With bitcoin there's no transaction privacy - with some alts there is.
Why do you keep repeating this broken argument? Do you think that it will make sidechains go away? Confirmation time - sidechains can have instant confirmations. Digital assets - sidechains ALREADY does this. It's called Counterparty. Anonymous transactions - sidechains can easily do this. I get it, you love get rich quick schemes and sidechains is going to ruin that niche for you. But please try to come up with a better argument than "sidechains can't work because I said so". The world financial system is a huge place. It never has and never will been able to function with only 1 form of money or 1 currency. With the arrival of digital currencies it's only going to diversify. "The world of information is a huge place. There will never be 1 internet protocol." - toknormal Nice market astrology you got there. I too can make things up about graphs. |
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Can you say anything about the expected development time for gen 3?
Are we looking at weeks, months, years?
Few months. We have two parallel efforts, each with different risk / reward and timeframe. It's not around the corner, we need to squeeze the most from 28, since we don't do FinFET yet. Do you know at this point whether you will be going with small, medium, or large chips? (small being <2W) |
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Market is not working on ZenCloud and this is how it's interpreted on HT: Buy more XPY! Because something good might be coming! Now that non-believers have sold off their stakers the faithful will be rewarded! https://hashtalk.org/topic/32700I love it how so many people think hashbase (which is just a slick design for zenminer) is going to magically make mining profitable for GAW once again. |
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What did I miss? Who's taking over? suchmoon you might wanna update the OP.  I don't think there is anything of any significance really happening yet. It looks like they attempted some kind of tax evasion move with non-profits etc, but GAW is still in control of nearly all coins and still pnd-ing it like there is no tomorrow. This seems rather obvious, but has anyone actually followed the coins in the blockchain to support this? There were some amounts traced from the pre-mine into Cryptsy. Also coins purchased on Paybase were shown to be originating in the pre-mine. GAW's excuses: 1) this is not us, this is ZenCloud users selling their coins (impossible to prove since GAW never published any proof of which coins belong to which category of owners - "investors"/hashpoints/etc) 2) we just temporarily borrowed some coins and will put them back soon (never happened AFAIK). They've transferred at least 250k xpy to Cryptsy IIRC. I think we're supposed to believe someone (not GAW) dumped the equivalent of 2 prime controllers ($5m price tag) for ~$250k. |
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Guy you're wasting your time. Unless you pay Dogie, he's not going to give you the same preferential treatment as Bitmain.
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I dont wanna pick up another fight regarding Ponzi or Not. IMO, if it were a Ponzi, it would have blown by now because of the low rate they are selling from beginning.
"PBmining would have collapsed by now if it were a ponzi" - every idiot who invested in that ponzi. That is not my concern though. What I have learnt from their forum, that they used to map different contracts to different mining blocks before. Hence, we used to see, different mining results by different miners. That's not how mining works. Pretending this isn't a ponzi, they could easily distribute mining earnings fairly between all gh holders like every other cloudmining website. In reality they are just lowering payments for the people who stopped putting money into the ponzi. (remember ponzi's collapse when payments in < payments out) Not sure why I'm saying "they", because you (germangiant, russianrainbow, spanishsoldier) are obviously the scammer running this ponzi. Rather than fighting here take a small piece of advice from my end. Get a new contract @ their new rates. These are paying exceptionally well. I got this notion from a discussion at their forum and it has worked. This is how your old investments will get covered. Decision is yours. Over to you... Yes, of course it makes sense to invest more money into the ponzi that arbitrarily reduces your payouts to dust. They totally won't do fuck you over this time, they promise. |
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Really threatening violence against his wife and kids, you are sick fucks and need to learn a lesson, you cunts need to fuck off.
Seriously fuck everyone in this thread because of what one psychopath said. |
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The "there can only be one" camp of Bitcoiners do not understand that altcoins supporters don't necessarily think that any altcoin will overtake Bitcoin in value. I can't speak for everyone, but I believe that Bitcoin will always be the "one" cryptocurrency, the crypto reserve currency.* But there will always be room for a few more cryptocurrencies that are adopted widely just like Bitcoin. These cryptocurrencies will have independent economic models and not pegged to Bitcoin and will have a free-floating market price. As toknormal said, the market has already decided that altcoins have a future. The market is smarter and more efficient that any one of us. You can say "shitcoins are dead" a million times, but that doesn't change the fact that Litecoin has a $60M market cap and that people are willing to trade them at ~$1.80 a coin today. This doesn't guarantee that Litecoin will survive in the long run. But one thing I know for sure is that there will always be altcoins.
For those that think Bitcoin and sidechains (pegged Bitcoin) will cause market cap of all altcoins to go to 0, do you also think that all countries should adopt the USD or peg their currency to USD?
* And that is why I work for Coinbase.
I don't see what point you are trying to make with your USD analogy. Fiat is a source of wealth for governments (printing money doesn't increase a countries wealth, but it increases the printers portion of the pie). Now why would China for example want to give the United States the ability to constantly decrease China's portion of the pie? I've said it before and I'll say it again, why create entire new coins/distributions for every new idea/feature/use (micro/merchant transactions, smart contracts/properties, anonymous transactions, etc), when those features could simply be built upon Bitcoin's rock solid system/distribution? |
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Guys get a life give this rubbish a rest your only going to make yourselves look stupid when paycoin goes to the moon!!! The big boys at your school will steal your lunch money for being stupid nerds
This is great. The guy who spends all his time promoting, developing, and investing in blatant scams is telling us to get a life. Not sure why I'm even bothering to reply. I'm 99% sure you are just trolling because there's no way anyone is dumbtarded enough to be invested in paycoin for more than a few weeks without figuring out it's a scam. Even if you can't tie your own shoes in the morning, you should still be capable of figuring out it's a scam. |
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However, it's a good question. For every sell, there's a buy. Who's buying? Who would want XPY? There can't be that many believers in that honor program (who also can't figure out how bad of a deal it is even if it does happen) to keep the price up above 50 cents for this long, can there?
I've guessing it's the same type of naive/gullible/easily manipulated people who invested in paycoin the first time around. Some people have no idea what due diligence is. |
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...
And as mining gear becomes cheaper to manufacture and operate, bitcoin prices will continue to fall.
...
Care to explain ? If the price of bitcoin trends towards the cost of producing it, and the cost of producing it decreases, then the price of bitcoin decreases The thing you're completely leaving out of your equation is difficulty. If $/gh and w/gh were cut in half tomorrow, we would not expect the value of bitcoin to halve, we would expect the difficulty to double. The demand for bitcoin determines the exchange rate, and the exchange rate determines the demand for mining hardware. |
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Vlad2vlad, please stop spewing your verbal diarrhea all over this thread.
xpy is a joke, there's a reason 99% of what used to be an blind supporting cult has now jumped ship.
Do yourself a favor and read the past 1000 pages, or even just do a minimal amount of research and you will come to the same conclusion as everyone else. (Actually I'm not sure about that because you seem to constantly show traits of a delusional psychopath)
If you want to be holding a joke of a coin that loses half it's value every 2 weeks up to the day it's worth literally nothing because GAW declares bankruptcy or get's shut down by some federal agency, feel free. But please stop wasting everyone's time trying to convince us all shit isn't shit.
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Are there any talks of what happens to the premine during this passing of the torch?
It stakes and stakes and stakes? So the 10% inflation, the 1.2 million new coins per month don't come from hashlets mining but probably 90% is from interest on existing coins. So those who hold a lot of XPY get most of those 1.2 million new XPY. If that's the case then I now see what's going on. And you can bet Garza and any smart whale has been buying up all the XPY possible at these prices. The problem is that you think Garza is some sort of mastermind scammer. You're giving him WAY too much credit. It's pretty easy to see this whole paycoin scheme was thrown together in a haste when his hashlet ponzi started going downhill. I find it incredibly unlikely at this point that Garza even makes an attempt at making paycoin work. Most likely he will just continue to dump hundreds of thousand of xpy, funnel the money, and declare bankruptcy. The question is, will that happen before or after some federal agency shuts them down for fraud? |
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I'm not saying sidechains can't work - I'm saying you can't remotely expect them to displace alt coins because they are *not* altcoins.
I can expect exactly that. Sidechains are just altcoins without the get rich quick scheme. Please do tell which specific altcoins features cannot be implemented as sidechains. |
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I guess he forgets the important fact that AltCoins, collectively, far superseede Bitcoin in total $$ trades.
Bullshit. http://coinmarketcap.com/currencies/volume/24-hour/Bitcoin's trading volume makes up 83% of all cryptos trading volume. That percentage is only increasing as time goes on. He also forgets that many/most people only use Bitcoin to obtain AltCoins?
Most people only use bitcoin to obtain shitcoins? What kind of fantasy land are you living in? He doesn't understand that Bitcoin has general appeal whilst AltCoins have niche appeal?
Agreed. Altcoins have the get rich quick scheme niche appeal. Although I'll agree that no-mining coins kill the purpose of cryptos, Bitcoin will at some point no longer be the "über alles" of cryptos.
So far all my predictions in cryptos have happened, so let me make some more crazy predictions.
Ever since I was born, every prediction I made has come true. (true story) I predict that Bitcoin + sidechains will completely wipe out the shitcoin cesspool. Afloudist on that jackass!
Glad I don't trust them with any of my coin.
Yea, why would anyone want to trust this legally compliant/insured/audited exchange backed by the NYSE, USAA, and BBVA, when we could be using one of the many shitcoin exchanges created by sketchy anonymous basement devs in their spare time. |
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I doubt very much that sidechains will prove a satisfactory substitute for truly independent, free-floating alternative cryptocurrencies.
For a start, welding the "alt" into a pegged straightjacket in Bitcoin creates more problems than it solves because it needs to 'hijack' a portion of the bitcoin money supply to generate the alt-coins giving rise to all kinds of liquidity problems (in Bitcoin, by taking coins out of supply and in the alts by limiting their ability to respond to market demand).
Not all sidechains will be one way pegged, like micropayments/merchant sidechains, therefore it won't reduce the coin supply. Though I've never heard of reducing the coin supply being a real issue as btc is infinitely divisible. When sidechains increase the uses of bitcoin, the adoption should increase along with liquidity. Bitcoin is already deflationary enough as it is - the altcoin market is a very nice way to address the need for a natural elasticity, monetary growth
and technological diversity without bitcoin developers constantly hammering out code and hardforks. Bitcoin can still form the reserve currency which "backs" all other alts (it's already is doing that - we price the 'alts' in BTC). The only thing that sidechains couldn't do is change the distribution/monetary growth. But at this point I think the only people who feel those are issues are those looking to get rich quick. Secondly, what you see right now is the market working: it's showing you what the future's going to be. In other words, you can bolt on all the "warts" you want to Bitcoin physically but there will always be an altcoin market. Are you sure about that? Only a few months ago the combined shitcoin market cap was ~25% of Bitcoins market cap. Now it's closer to 10%. That would suggest the altcoin cesspool is shrinking and hopefully will be completely phased out. There's just too much diversity in the world to be able to architect the future into a single technology. It reminds me of the 1990's when Microsoft tried to monopolise the browser market by making Internet Explorer an extension of Windows so the user had "everything in one platform". Sorry - no can do, even though your the biggest technology company in the world with 95% of adoption, your never bigger than people's imagination.
Sorry but that's just patently false. Look at the internet, a single protocol which 99.999% of people use. There's no reason bitcoin can't become the internet of crypto and have innovations/inventions built upon it. Sidechains is the kind of idea that someone has as a metaphor for what the market's doing already. It's a nice idea as an economic model but not remotely implementable in practice if the crypto-economy ever gets to a significant size because markets will just blow it away with things like decentralised exchanges which perform the same function but without all the liquidity and technology restrictions of sidechains.
Decentralized exchanges can only trade between crypto and only need to exist if shitcoins are a thing. With sidechains there would be no need for a decentralized exchange because you could seamlessly send btc from sidechain to sidechain. Nor are sidechains ever likely to meet these requirements because the idea isn't remotely scaleable enough for the reasons I outlined here (and even if it was it wouldn't address the demand for genuinely de-coupled alt currencies). Please do elaborate because you didn't explain at all how sidechains are not remotely scalable. |
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It's funny that you say that because for all intents and purposes, Bitcoin was the very first "shitcoin" and is currently the #1 "shitcoin". Satoshi Nakamoto mined aprox 1million Bitcoins, most early adopters bought tons at ridiculously "low" prices, and most of all Bitcoin's entire price increase history was because of an illegal trading bot using nonexistent fiat cash to buy bitcoins on MtGox.
You're trying to defend your investment in Bitcoin, I know, but it's all in vain when you look at the details.
What you just said made absolutely no sense. You know bitcoin isn't a shitcoin when the NYSE, USAA, and BBVA invest in a bitcoin company. Or when Microsoft, Dell, Newegg, Virgin Galactic, Paypal, Ebay, Square, Stripe, Namecheap, Wordpress, Cheapair, etc, start accepting bitcoin. |
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The funny thing is that you're all wrong. Bitcoin is unsuitable for micropayments/transactions, even Gavin Anderson said so. However, an altcoin named cryptonite makes that possible through it's miniblockchain. Bitcoin is unsuitable for instant transactions, however an altcoin named Darkcoin makes that possible through masternodes, and finally Bitcoin is unsuitable for anonymity, but however a altcoin named Monero makes that possible through it's RingSignatures.
Bitcoin has no use cases. It's useless for micro transactions, its useless for anonymity, and its useless for instant transactions. Sidechains won't help that, as another use pointed out, developers of altcoins come to improve upon bitcoin, not work with Bitcoin's flaws. And as another user said, Bitcoin is an altcoin, and it's in Beta stage with hardly any userbase compared to even apps on Google Play.
Get realistic.
Another shitcoin enthusiast who doesn't understand sidechains. I'd suggest you do some research before sidechains rolls out because it's going to make your worthless shitcoins even more worthless.  The nice thing about sidechains is that it doesn't require using the bitcoin protocol. That means there can be entire sidechains created for micropayments/merchant transactions/anonymity/etc. If it turns out that cryptonite, darkcoin, or monero bring features people want, they can be simply implemented as sidechains. |
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I just noticed the XPY inflation rate is 10% APY [Annual Percentage Rate].
So the 10% monthly inflation rate, quoted earlier by someone is obviously wrong and way off. So a $20 or $50 price floor can be sustained if Garza has a real business plan with positive cash-flows.
Its actually 0.96% compounded daily which is ~3200% per year. Do you do any research before picking a coin to pump&dump? |
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