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Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][Profit-switching][0%fee] multipool.us:Always mine the most profitable coin
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on: August 07, 2013, 06:20:55 PM
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Thank you for single hand-idly destroying alt currency. I have lost sooo much value on my portfolio because people use your pools to mine up a bunch of alt coins then they dump them onto the exchanges and cause speculations to always dwindle downward.
Maybe you shouldn't have been holding coins which will be dead within a few years anyway. Thank god there is a way to kill these coins off naturally. I love watching them burn  In addition - wouldn't smart speculators take in enough data to understand the impact a coin that ranks to the top of the profitability charts may have on price movement and plan accordingly? Seems like this 'speculator' is identifying a trend and is mad they can't capitalize on it. |
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Bitcoin / Bitcoin Discussion / Re: Do you think people pulling out of mining is good for Bitcoin?
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on: August 06, 2013, 10:17:58 PM
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If I recall correctly, my 700 Mhs rig was mining almost a bitcoin every day back then due to RUCoin and the BTC-e exchange.
Now, I wouldn't be able to do that since the information gets out quicker and coins adapt. I realize, internally, that by running CoinChoose I am destroying my ability to mine more efficiently, but rather have the info out there.
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386
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Alternate cryptocurrencies / Altcoin Discussion / Re: Multipool and Middlecoin - big profit, even bigger troubles...
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on: August 06, 2013, 10:14:04 PM
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That's what happened with DGC, it had great beginnings and slowly grew with a loyal community behind it. An intelligent speculator sees this and decides to invest 5 btc in it, buying up all the sell orders, and then next thing you know it's #1 on coinchoose for all of two hours and the chain gets raped by multipool and profit hoppers who's combined hashpower is double the original. It's like watching a bunch of retarded chickens scurrying around for scattered BTC feed.
I am a little curious on this. All sell orders where bought up - so presumably the buy orders remain (which are the orders coinchoose looks at) - how did this impact the profitability rating besides some psychological upward price movement on the buy side as well? |
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387
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Bitcoin / Bitcoin Discussion / Re: Do you think people pulling out of mining is good for Bitcoin?
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on: August 06, 2013, 09:17:32 PM
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Good lord. coinchoose.com appears to be the real world manifestation of what I described back in October 2012: Solution to The Bitcoin Foundation (the announcement)But the issue of confidence comes into play another way. Nothing backs cryptocurrencies, famously. They gain or lose value and acceptance based on how they are perceived. As I've illustrated it's easy for alternative cryptocurrencies to challenge each other, and no one knows what the market will come up with next. Since it's just as easy for merchants and everyone else to accept one form or another of these all electronic currencies and switch between them, any one could rise or fall at any time.
What I think this means is cryptocurrencies should be used transactionally, rather than as primary stores of value. I see a cryptocurrency version of xe.com showing all alt-coins values relative to gold (or USD to start). Exchange rates would be updated and available to merchants in real time. They could quote product prices in one, two, three or more currencies.
Hmmm...and my idea to start the site was purely as a result of RUCoin and the insanely low difficulty / high exchange rates back around the same time  |
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Alternate cryptocurrencies / Altcoin Discussion / Re: CoinChoose - alternative site to show respective profitability of the alt coins
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on: August 06, 2013, 07:37:32 PM
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Hi- I'm running a script that pulls JSON data from your site, and apparently my IP has been banned. Am I pulling data too often? I was running every one minute, now I"m changing it to 5. I'll go even longer if you'd prefer. Let me know. Or maybe the problem is something else? "The owner of this website ( www.coinchoose.com) has banned your access based on your browser's signature. (Ref. 1010)" Sorry if I've been taxing your servers or anything, it wasn't my intention! It can handle once a minute, but the data shouldn't change that often (it is about every 5 now as the site got larger). |
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391
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Alternate cryptocurrencies / Altcoin Discussion / Re: [ANN][PWC] Powercoin rejuvenated, Updated client v1.011 [Mandatory update]
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on: August 05, 2013, 03:13:35 PM
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Sal002, You are on the right chain (diff is right). If you downloded client/daemon from post1 links of this thread you cant go wrong. Only thing that puzzles me, is the value of the coin (and most/some, checked also VLC and SPOTS of the coins traded at coins-e) is not right. Maybe something is not syncing with the api.
The price is based on a weighted average of the current open buy orders for a particular coin to a set depth. So it is not a specific order but is based on a weighted average of orders currently open. This was done to deal with people skewing pricing by putting in place small orders (and reporting all over BCT that they did it and asking others to manipulate coinchoose in the same way). |
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