It is very unfortunate that the older generation of altcoins are doing so badly right now. On the other hand, perhaps I was fortunate in that I was a bit late in joining the crypto community because if I had started investing into altcoins only a couple of months before I actually did, then chances are, I would have been one of the people who bought into those coins too.

And yes, I am invested in Nxt. In fact, it's probably the coin that I am most invested in (other than Bitcoin of course). However, Nxt has been going sideways for most of 2014. It peaked near the beginning of the year and in June but the price charts have not been very favorable (or unfavorable) to it. I wonder if Nxt will ever rise above the 10 cent mark and stay there. It has touched it twice, but every time it does, it is followed by a huge crash.

We already know that when Bitcoin prices rise, altcoin prices get dragged along with it. When Bitcoin falls, altcoins fall along with it. Many new altcoins were released this year, and perhaps the falling price of Bitcoin combined with people investing into these newer altcoins is the reason why the old favorites aren't looking so great at the moment.

Edit: Also you forgot Namecoin.

Yeah, it's crazy how prices have dropped today. Peercoin is down by 12 percent. Litecoin by almost a fifth. Bitcoin is down as well. All in the space of 24 hours. And if you look at the long term charts, it looks just as bad.

Interesting. I didn't know that. I am guessing it was when the coin was being traded but before the airdrop right? Having an enormous premine would do that although I guess Auroracoin's premine was for legit reasons. Similar stuff happens with heavily premined low volume coins all the time.

Anyway, it's interesting to see the votes so far. 8 people voted "Yes" and 1 person voted "Maybe". No votes for "No" yet. Since the poll is anonymous, there would be no point in someone hyping a coin that they hold so it seems that most people here genuinely do believe that an altcoin other than Litecoin will surpass the $1 billion barrier. My guess is that Bitcoin's market cap will probably be in the tens of billions if/when this happens.

Never heard of this coin before. From the description in the OP:


How is this coin different from Myriadcoin which also uses different PoW algorithms each with its own independent difficulty to target miners using different hardware? Just a brief sentence or two would be appreciated.

So far, Litecoin has been the only altcoin to exceed $1 billion market cap and even then, it only just barely managed to reach it and the time it spent above $1 billion was very brief. Now it's market cap has fallen, and continues to fall.

Do you think an altcoin will ever reach $1 billion market cap again? And which altcoin do you think it would be?

I personally think Litecoin has a shot at reaching and surpassing its ATH but only if Bitcoin undergoes another massive price spike. When the price of Bitcoin spikes, altcoin prices tend to follow. I believe Nxt also has a shot at reaching $1 billion too. Its growth also depends on Bitcoin but to a lesser extent than that of Litecoin since it isn't really perceived as being Bitcoin's little brother. I won't comment on Ripple since I don't know much about it.

What do you think?

Wait, isn't dooglus also an investor of Dicebitco.in? He might even be the biggest investor of the site's bankroll. In which case, the losses from him losing would simply be redirected back towards him as profits.

EDIT: This is what I found on the Dicebitco.in thread:

The happy hour faucet usually gives 10,000 satoshis per minute. That's 0.0001 BTC. Sometimes it gives out 20,000 satoshis (0.0002 BTC) but this is rare. I don't know how things are for PD3 since I haven't been there since a couple weeks ago so things might have changed since the last time I used it however. A faucet that gives out 0.01 BTC per minute would be too much. Heck, that's like $6 a minute or $360 an hour.

It is possible to win 0.01 BTC if you're lucky enough though. I once managed to win 0.02 BTC from the faucet during a single happy hour.

Thanks for the reply. Yeah, that was what I thought as well. I just wasn't completely certain, that's all. If the encryption that prevents a private key from being derived from a public key is broken, I could see people who reused their addresses losing their bitcoins and those who didn't reuse their addresses managing to hold onto their bitcoins until there is a hard fork and the encryption is fixed. It would be similar to the situation a while ago where due to a bug in the Android RNG, those who used Mycelium wallet had their funds compromised. Except instead of a flaw in the Android RNG, it would be a flaw in the implementation of the encryption algorithm or the mathematics behind the algorithm itself. Still a very unlikely thing to happen though.

And about the privacy thing, I guess that could be an issue but I think it's a minor issue for most people, isn't it? I doubt I'm important enough for someone to spend the resources to sift through the blockchain just to track me down. And even if they did, all they would see is a bunch of transactions to and from exchanges and dust payments from faucets. So someone like me who doesn't use Bitcoin for nefarious purposes should be alright, no?

Most of it would probably be automated. And there would be multiple companies competing against each other in the same space for lower fees. Have you ever had a Cryptsy account? You can use trade keys there to instantly transfer coins to other members with no fees and since the whole process is completely internal, all transfers are completely off the blockchain.

...are there sites like WikiLeaks that have been using the same address for years:

http://blockchain.info/address/1HB5XMLmzFVj8ALj6mfBsbifRoD4miY36v

The above address has been receiving and sending out transactions since 2011. I have heard that by sending funds from an address, you lose an additional layer of protection and so if a method of cracking the single encryption now protecting your address is discovered, any bitcoins stored in such a used address could be stolen. But how feasible is this scenario?

And secondly, I have also heard that it is a bad idea to make multiple deposits into a single address since that also qualifies as reusing an address. But how would it be possible then to make a paper wallet to store 1 BTC in if you have multiple addresses with 0.01 or 0.05 BTC in them each? Say for example you sell a whole bunch of low-value items and generate a new address for each transaction, how would you then pool these funds together without reusing an address by making multiple deposits?

And do multiple deposits affect the security of the encryption? If not, then why are multiple deposits considered a bad idea? Or aren't they?

Apologies for the newbie-ish questions. It feels a bit weird posting in this section of the forums since I'm a senior member. You'd think someone who has been on the forums for so long and has more posts than Satoshi would be an expert by now but unfortunately, I'm still pretty far from it.

Exactly, and while off-chain transactions do have some associated risk (e.g. a payment system's hot wallet could be hacked into during the ~10 minute timeframe) and invites a degree of centralization regarding payments, the damage would be contained to ~10 minutes worth of transactions and the convenience would certainly be worth it.

For example, I could envision something similar to the old Inputs.io wallet becoming popular. You would have a personal hot wallet which would contain a small amount of coins to be used like an actual wallet which could spend or receive coins immediately. Every ~10 minutes, the payment system would submit changes to its users' balances to the blockchain allowing the off-chain transactions to be cemented into the blockchain forever.

It might not be worth using if you're buying a burger or something, but something like this would allow you to purchase more expensive things like a laptop or a smartphone without having to wait tens or hundreds of minutes for the transaction to confirm.

CoinDesk isn't a single person so how can the whole site be composed of Darkcoin bagholders? According to this link, their team consists of 15 people and they claim to have reporters all over the world.

It bothers me that whales keep doing this. A couple of weeks ago, a Litecoin whale crashed the price of LTC to $3 on an exchange despite the fact that it makes no sense to dump such a huge amount of BTC or LTC at once. It would make much more sense to slowly sell off fractions of a stash - making sure you don't completely demolish all the buy orders and taking pauses in between to see how the market moves and to let the orders fill up again. You would think that most whales would be smart with their money to get to where they are today, but for some bizarre reason, this doesn't seem to be the case.

Something almost identical to that of OP's situation has happened before. In May 2014, someone accidentally reversed the amount and transaction fee fields while sending from a Blockchain.info wallet. He ended up sending 0.0003 BTC with a fee of 2.8 BTC:

http://bitcointalk.org/index.php?topic=602152.0

The pool that mined the block which contained that fee was GHash.IO. After contacting them, he was able to get a full refund. So whether or not OP can get his 0.2 BTC back depends on identifying the pool which mined it and asking them for a refund.


BitFury is a mining farm. Coinkite makes Bitcoin payment equipment. I don't think the two are related.


I believe he did send a email to BitFury but I'm not sure if the mining pool that mined that block is indeed them since Blockchain.info says that someone or something called "Unknown with 1AcAj9p Address" mined that block. He is still waiting for a response from BitFury.

He did send an email to Blockchain.info however and received a reply (see further up the thread), but since Bitcoin transactions and their associated fees are irreversible, it's not like they can do anything about it.

Wow, I'm surprised by the sophistication of this scam. Just incredible. It reminds me of the Sharexcoin scam where the scammer coded an entire exchange only to later run off with everyone's coins.

Also, I guess this thread is further proof that open source is the way to go (although I guess since it's a PHP script, it's open source by default).

With some tweaking, wouldn't it be possible to completely remove the backdoor and turn this into a legit dice script? The scammer already did most of the work and judging by the screenshots, it seems they did quite a good job (minus the scam bit of course). Just add a front end and voila! I have some experience in Python and Java and I know PHP isn't too different from Java so I think I could do it if there is enough interest. I think there would be a lot of demand for something like this. Perhaps the community could make something good out of this.

I usually think of second generation cryptos as being typically proof of stake (or some modification thereof) with asset exchanges and new source code that isn't a fork of Bitcoin. First generation coins try to be coins whereas second generation coins try to be ecosystems. A good example of a second generation coin is Nxt. Some people might consider any new code coin to be second gen, however, especially those with anon features - e.g. coins like Bytecoin/Monero.

However, just because these coins are called "second generation" doesn't mean that they will replace the first generation coins. Take a look at programming languages. First generation programming languages were machine code. Second generation programming languages were assembly. Third generation programming languages replaced both the first and second gen ones except in specialized applications. Examples of third gen languages are C++, Python, and Java. Then you have fourth and fifth gen languages based on things like databases and neural networks which failed to replace the third gen but instead have their own uses and co-exist side by side.


You forgot Qora, the one in your signature.

When I click on "View All" this is what I see for NEMstake which is currently at no. 304:



Anyone know what's happening? Has it got something to do with the Nxt AE? Are stakes still being bought and sold?

I would think that CoinDesk has a lot of influence in the crypto community, just like Bitcoin Magazine, Coinmarketcap.com, and the Bitcoin Foundation do as well. It's similar to how CNN or the WSJ have a lot of influence in the non-crypto community. For example, if CNN published an article attacking Microsoft or Facebook, then you would see their shares plummet. If they published an article praising Obama, then his approval ratings would surely rise.


Well it isn't illegal for them to ignore Monero and the CryptoNote coins so I agree that I have no problem with it. It is a bit odd however and I can understand why someone who is heavily invested in BCN or XMR might want others to know about it.

Anyone else here noticed this trend?

For example, Monero is XMR, Ripple is XRP, and Primecoin is XPM. There doesn't seem to be any connection between these three coins other than the fact their abbreviations all begin with X__. Monero is a Bytecoin (BCN) relaunch, Ripple is an internal currency used in an ecosystem developed by a for-profit company founded by Jed McCaleb from Mt. Gox, and Primecoin is a coin developed by Sunny King who also created Peercoin (PPC).

Edit: It seems Crypti uses XCR too.

What is it about the letter X that makes it so popular?

I agree, however it might be dangerous for the next patient who has to use that ambulance if he started throwing up inside the ambulance or otherwise spreading bodily fluids everywhere. It might also be dangerous if he started vomiting halfway during the walk and someone else accidentally came into contact with it. Someone who uses the hospital's toilet facilities after him could potentially become infected too unless the hospital staff choose to keep him well separated from the other patients.