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Alternate cryptocurrencies / Announcements (Altcoins) / Re: BCX.... ()==[:::::::::::::> << BATTLECOIN >> ︻╦╤─ - - Official thread
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on: January 11, 2014, 10:27:18 PM
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Wow that really does sound good. Although i was just thinking, could this kind of service be used to do a 51% attack on low hashing alt coins? Or is that not possible?
I'm also assuming that the bigger the hash rate of the battlecoin network gets, the more desirable it becomes to mining manipulators rite? So the battles become bigger and more profitable for battlecoin miners?
I'm getting a little exited here, i will post on the offical thread from now on. I'm sure these questions and answers will be beneficial to other people.
Thanks
In theory This could happen if a coin is on our list or it is added as an infant or it has low network support. . Developers of coins could in theory if they are scared that their coin will break , lock up or fork with the massive hashpower that BCX could deliver then they too could Buy battlecoin and pay the miners to redirect the pool somewhere else making it more expensive to just produce a coin and get paid..This is why we will have Paid Private war rooms as well as free public war rooms so people can talk strategy. This is the nature of what we are creating.We are entering a new era. One where anyone with a few bucks or a little know-how can clone a coin and go on a marketing campaign. It is about time we have a balance . something that can sift through the garbage. Make it maybe a little scarier to spend that money on marketing and developing of a coin scam that might just get destroyed on launch day. Maybe we see rival teams or alliances take place. It will be like a judgement day for alt coins. We see a need for our service and we understand it could be considered controversial and some people might not like it. People might not like what we are doing but we feel this is part of the evolution of altcoins if they will have a future.. Interesting, very interesting. And yes this will definitely piss people off lol. But yeh survival of the fittest. So im guessing these methods can only be used on sha-256 coins rite? |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: BCX.... ()==[:::::::::::::> << BATTLECOIN >> ︻╦╤─ - - Official thread
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on: January 11, 2014, 09:44:02 PM
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Wow that really does sound good. Although i was just thinking, could this kind of service be used to do a 51% attack on low hashing alt coins? Or is that not possible?
I'm also assuming that the bigger the hash rate of the battlecoin network gets, the more desirable it becomes to mining manipulators rite? So the battles become bigger and more profitable for battlecoin miners?
I'm getting a little exited here, i will post on the offical thread from now on. I'm sure these questions and answers will be beneficial to other people.
Thanks
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Alternate cryptocurrencies / Altcoin Discussion / Re: [ANN] [GIVEAWAY]- BATTLECOIN - BCX OFFICIAL GIVEAWAY ︻╦╤─ - - - multi-post ok!
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on: January 11, 2014, 09:02:58 PM
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[/quote] Yes very good questions. The Arena will most likely have a portal on our website with a mirrored portal for protection. The hosting locations will be confidential for obvious reasons . We will be a big factor in market manipulation . we also plan on having public and paid private War rooms that people can use to plan strategies in. So as you can imagine this third Phase will be the largest of the 3 Phases to get completed. There are many aspects of the development. We will keep people posted on our progress. however before Phase 3 can even happen we must go through Phase 2 the determination of what is FMV for a Battlecoin. I know this is the big question people are wondering.This will be done by Listing them on an exchange(s) and quite possibly in the future direct purchase on our website for convenience.It is the nature of what we are doing we will need to have a close relationship with an exchange. It has not been officially announced yet But we are already closing in on Phase two and are waiting for the official word. so we hope you will stay tuned to our official thread for upcoming announcements. https://bitcointalk.org/index.php?topic=354612.0 =) Thanks Jack [/quote] Wow that really does sound good. Although i was just thinking, could this kind of service be used to do a 51% attack on low hashing alt coins? Or is that not possible? I'm also assuming that the bigger the hash rate of the battlecoin network gets, the more desirable it becomes to mining manipulators rite? So the battles become bigger and more profitable for battlecoin miners? I'm getting a little exited here, i will post on the offical thread from now on. I'm sure these questions and answers will be beneficial to other people. Thanks |
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Alternate cryptocurrencies / Altcoin Discussion / Re: [ANN] [GIVEAWAY]- BATTLECOIN - BCX OFFICIAL GIVEAWAY ︻╦╤─ - - - multi-post ok!
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on: January 11, 2014, 08:33:51 PM
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Sorry op, but the article you pointed me to does not really explain the coin and its attributes.
How does the battling work? What the arena for? How do you mine the most profitable coin? If i don't understand, im sure others wont to.
Barrier to entry and all that.
Thanks
Ok I am sorry for any miscommunications we are having. right now we are in Phase 1 which is the production of the Battlecoins. These Battlecoins will be used for our "warrors" (members) to Vote on where the pools hashpower is directed. The battlecoins will not be spent until Phase 3 when we have the "arena" (Multipool) finished . It will be similar to other multipools like Hashco.ws or middlecoin as in the aspect it will auto switch to most profitable coin. but the warriors will have the option to move the miners from mining the most profitable coin to mining a less profitable coin by paying battlecoins to the pool. This will be done by using proprietary software that will determine the difference between the profitability of the coin that will be mined and the most profitable coin. It will then determine how much Battlecoin is required based on the FMV of a BCX to move the pool so that the miners will still get paid like they are mining the most profitable coin. I hope this clears things up for you. thank you for your post. If you have further questions please direct them to the official thread this thread is for the giveaway https://bitcointalk.org/index.php?topic=354612.0Thanks again Jack. Great stuff. I sort of get it now. So to manipulate the hash power you need battlecoins. Where will these battlecoins be bought? Where will the arena be found when it functions? BTW i haven't received the coins from the giveaway thread. BQ5ArCvGFd82CfGX75sFx8RXynFzn4wyGq Received. ta |
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