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1  Alternate cryptocurrencies / Altcoin Discussion / Re: So how exactly do I know what altcoin is better? on: December 11, 2014, 07:29:55 AM
You shouldn't invest into altcoins.

Now, crypto 2.0 technologies is a different matter.

Altcoin is just a coin like Bitcoin; crypto 2.0 are platforms to leverage decentralization with many use cases.
2  Bitcoin / Bitcoin Discussion / Re: Long Live Proof-of-Work, Long Live Mining - "there is no meaningful alternative" on: December 11, 2014, 06:17:09 AM

I see you're in the mood of twisting words like lawyers.
3  Bitcoin / Bitcoin Discussion / Re: Long Live Proof-of-Work, Long Live Mining - "there is no meaningful alternative" on: December 10, 2014, 04:00:52 PM

Dude, the license here is the stake you purchase, that is your capital investment. The license gives you a right (what do you mean legal, I thought crypto currencies don't require a legal permission to operate?) to take part in the staking process, the stake is your mining rig except it's 'virtual' not physical, these PoS tokens you purchase is now your uninflatable intellectual property that secures the blockchain. Come on, that's easy enough to understand, don't pretend you don't get it Wink
4  Bitcoin / Bitcoin Discussion / Re: Long Live Proof-of-Work, Long Live Mining - "there is no meaningful alternative" on: December 10, 2014, 10:32:06 AM
Stake isn't capital. You can base PoS on tokens like travel points. Capital is fixed value hardware or natural resources. Bulldozers, ASICS, oil, and licenses are examples of capital. PoS tokens are speculative vehicles that may or may not have value except as a security token like a Verisign cookie.

Since you consider licenses (intellectual property, not just physical property) an example of capital, think of the stake as a license that you invest into.
5  Bitcoin / Bitcoin Discussion / Re: Long Live Proof-of-Work, Long Live Mining - "there is no meaningful alternative" on: December 10, 2014, 07:36:06 AM
...PoS systems have no capital requirements for security...

They do have capital requirements (stake needs to be purchased first just like ASICs need to be purchased), just not as wasteful as PoW systems (ASICs life is 6 months and then you need to upgrade to new ASICs, not to mention electricity fees, datacenter rent fees, etc. and all that at an increasingly wasteful rate to compete with other miners).

Inflatable PoS is wrong, no doubt about it. Any inflatable PoS crypto should be avoided. Luckily, there are uninflatable PoS crypto 2.0 technologies, which are not wasteful as PoW.
6  Economy / Speculation / Re: permabulls not only lost the control over this section-in fact they are extinct on: December 09, 2014, 08:50:04 AM
You bulls don't know how to have a real conversation... You just bash and bash while the price goes down and down

^
this

the first one to shut up when price actually rises is me, but this shit does not rise anytime soon and people around here look at it like blasphemy if you say it's going lower still.

As the guy in this Bitcoin video said: https://www.youtube.com/watch?v=Qlydjg1tiso
To succeed in life it's not enough to be stupid, you also need to have good manners Smiley
I guess good manners aren't common around these parts.
7  Alternate cryptocurrencies / Altcoin Discussion / Re: Bitcoin has reached the tipping point on: December 08, 2014, 12:46:18 PM
What are your predictions for Christmas? Would miners dump bitcoins to buy gifts for their loved ones and thus would Bitcoin re-test the $300-275 level (which still has an over 50% chance to hold) this December? Price action and order books look like selling pressure is gradually mounting.
8  Bitcoin / Bitcoin Discussion / Re: Long Live Proof-of-Work, Long Live Mining - "there is no meaningful alternative" on: December 08, 2014, 09:11:19 AM
PoS isn't horrible but the cost to produce coins vs PoW coins is a lot less so the price for PoS coins will always be much much lower.

There is no connection between the cost to produce a crypto coin and the price, hence your conclusion is a fantasy.

Price is a function of supply and demand only.

If supply of a PoS is fixed or inflates at a predictable rate comparable to a PoW coin inflation rate, there is no reason for the market cap (and price too if total caps are the same) of a PoS coin to be below the market cap (price) of a PoW coin (Bitcoin has a first mover advantage vs all others, PoW and PoS coins, it shouldn't really be compared here for the purity of this experiment as it clearly wins now just based on the adoption numbers).
The cost to produce a coin is a function of it's price, as if the price declines, the difficulty will decline causing the cost of producing (mining) the coin to decline.

With PoS coins on the other hand, the cost of mining is simply the cost of holding the coins

Yes, but we discuss what the price depends upon, not what the cost to produce depends upon.

Only miners would be interested in the latter, whereas investors and users are interested to learn what drives the price.

Cost to produce depends on the price, that's correct.

But price depends on supply (supply (increase rate) is predictably stable in cryptos) and demand only.

Price doesn't depend on the cost to produce.
9  Bitcoin / Bitcoin Discussion / Re: Long Live Proof-of-Work, Long Live Mining - "there is no meaningful alternative" on: December 07, 2014, 11:40:57 AM
PoS isn't horrible but the cost to produce coins vs PoW coins is a lot less so the price for PoS coins will always be much much lower.

There is no connection between the cost to produce a crypto coin and the price, hence your conclusion is a fantasy.

Price is a function of supply and demand only.

If supply of a PoS is fixed or inflates at a predictable rate comparable to a PoW coin inflation rate, there is no reason for the market cap (and price too if total caps are the same) of a PoS coin to be below the market cap (price) of a PoW coin (Bitcoin has a first mover advantage vs all others, PoW and PoS coins, it shouldn't really be compared here for the purity of this experiment as it clearly wins now just based on the adoption numbers).
10  Economy / Speculation / Re: permabulls not only lost the control over this section-in fact they are extinct on: December 06, 2014, 08:53:04 AM
I took a loan today.

Either the price will go up before I can pay it off, which will make it a good deal. Or it will remain low by then, which means I can get more cheap coins before the price eventually goes up again. Either way, it's a win.

The bear market in crypto currencies will last thru October 2015, if repaying your loan can wait till then, you have a good chance to win.
11  Bitcoin / Bitcoin Discussion / Re: Bitcoin defeating fiat is very unlikely on: December 06, 2014, 08:39:59 AM
Defeating fiat is like a whack-a-mole game. Fiat has lost many times in various countries over centuries, but it's still here. When fiat finally caves under the burden of its own issues, overdebtedness of the economy, etc., there will be a reset to another form of fiat, crypto currencies can gain a bigger market share as people lose confidence in fiat, but defeating it completely is unlikely, even if Bitcoin didn't have the flaws it has, it's still unlikely.

Fiat hasn't existed for thousands of years.

The Chinese tried unbacked paper currency = fiat many centuries ago, long before Europeans did. They pretty much invented this concept. It could be just a thousand years, not thousands, still it's a widely known concept to them.
12  Bitcoin / Bitcoin Discussion / Re: Eric Cartman and bitcoins on: December 06, 2014, 08:30:37 AM
Watching South Park since 90s here, love it.
13  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Myriad [1st Multi-PoW] | REQUIRED UPDATE 0.9.2.7 on: December 06, 2014, 08:21:09 AM
How much of the total supply of Myriadcoin has been mined so far?
14  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [BBR] Boolberry: Privacy and Security - Guaranteed[Bittrex/Poloniex]GPU Released on: December 05, 2014, 06:48:34 PM
Does anybody know what's the hash rate of Monero vs Boolberry, as well as how many miners in both (miner distribution graph?)?

Since they have a different mining algorithm you can't compare the hashrates (don't know for sure). Please correct me if I am wrong.

Alright then, is the miner distribution possible? I'd like to compare who is more decentralized. Otherwise, how do we know if these coins aren't all owned by one large mining farm?
15  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [BBR] Boolberry: Privacy and Security - Guaranteed[Bittrex/Poloniex]GPU Released on: December 05, 2014, 04:14:36 PM
Does anybody know what's the hash rate of Monero vs Boolberry, as well as how many miners in both (miner distribution graph?)?
16  Bitcoin / Bitcoin Discussion / Re: Long Live Proof-of-Work, Long Live Mining - "there is no meaningful alternative" on: December 05, 2014, 04:09:51 PM
Of course, whatever functions longer has more credibility: PoW ~6 years, PoS -1 year, PoI - 0 (still in testing). However, dismissing flaws and vulnerabilities in systems that have run for a long enough time is not constructive. "Good enough" may be not enough for some rare case situations, which can happen under certain conditions, those rare case situations should be foreseen and measures should be applied prior to such events, it's only common sense in engineering.
17  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency (mandatory upgrade) on: December 05, 2014, 04:03:29 PM
Does anybody know what's the hash rate of Monero vs Boolberry, as well as how many miners in both (miner distribution graph?)?
18  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][GEMS]| SOCIAL MESSAGING APP THAT REWARDS ITS USERS |PRE-SALE LIVE NOW| on: December 05, 2014, 12:33:10 PM
People I don't want to be a downer but I just want people to be a bit more sober about buying into this coin. If they are asking 3,000 BTC for 50% of the coins then we are looking at a 6,000 BTC valuation straight away, that puts it in the top 20 coins before even 1% increase in price. Unless you see some really big numbers come in for downloads you are going to get a crash and people will lose a lot of money on this coin. Its sadly inevitable.

There may be truth in this. If the app doesn't become popular within a month or two (and there is no reason it should become popular so fast, especially in the first crypto currencies bear market which is to last through October 2015), people might lose hope to get rich quick and start dumping, like it happened with Nxttycoin. There may be even an initial pump and then a dump to a below IPO price. This is a high risk venture, it's true, but all the crypto is high risk venture. Is Bitcoin not high risk venture? Can you point to one example in the crypto space that has a low risk? I can't find a single example. Let the buyer beware, it's the frontier of money evolution.
19  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] VIZR, a currency for VR (Virtual Reality) on: December 05, 2014, 12:24:14 PM
How does this generate a profit for investors?
20  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] SuperNET asset 12071612744977229797, trading symbol UNITY on: December 05, 2014, 11:11:08 AM
Trusting anything centralized is asking for trouble. NXT and SuperNet is all about decentralization. Withdraw from exchanges, don't wait for the SHTF.
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