So any guesses as to how low it will go? I suspect we will continue to see falls until at least 0.01 - of course now I've said that it will probably shoot up to 0.04!
Looks like my prediction curse struck again. It's going up now! |
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Well, this only works when the ICO price goes up on trading (which I admit does a lot). However, if the price is flat or down, then you're either selling for a loss or selling to break even. The point is, the strategy should be followed for all ups, not just at the ICO. Some coins don't go up immediately after the ICO (Factom comes to mind) but will go up later. In that case, it is better to hold for that first pump. Of course, the risk is that pump never comes.
I never said it was foolproof. All ICOs are a gamble and yes most ICOs do go up but there is no guarantee. Also even if it does go up you may forgo even larger profits that you could have had if you waited - e.g. ETHER all time high (so far) was nearly a year after release, so if you held on to your ETHER and sold at that point you would make much more than if you had sold some of your coins in the first pump. On the other hand NEUCOIN went down almost immediately after launch and doesn't seem likely to ever even reach the ICO price again. It's all a question of risk and how much risk you want to take. None of us have a crystal ball (at least one that works) and can predict the future with 100% accuracy. When BTC was about to hit $1 many people were saying that it was the right time to sell because it would never sustain such a high value and would soon crash down to a few cents. You just never know for sure and that is cryptocurrency in general. In the case of WAVES the POS/lending model gives an alternative way to increase your holdings though. Also given the high community interest and buzz surrounding WAVES I think if anything the risk will be more about lost profits from selling early so people should think carefully about what would bother them more - losing their initial investment or doing the equivalent of selling their WAVES early like those who sold BTC for a $1. |
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POW is successful. POS isn't. If POS was some kind of silver bullet, I think that would have worked out by now. The exploits for POS depends on the specific implementation, I'm not going to waste my time explaining it to someone who wants to re-open a technical debate that was settled years ago, and yet hasn't researched any of that old material.
Nothing has changed since then.
From what I understand (and I'm not saying I'm an expert although you clearly seem to think you are) that debate was never settled. There are people who are far more knowledgeable than me that were on opposite sides of the argument but then you haven't even bothered to consider that or perhaps you are too arrogant to even think you may be incorrect. It was my intention to have a friendly discussion on the matter. You seem to be incapable of doing that - the tone of your initial response made that clear. You have added nothing to the discussion on an intellectual or even a social level so please feel free to leave. |
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Maybe ROD -> ResearchOnDemand  If there is no name for it I vote for ROD  Cool. I second it! |
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It's definitely still being developed. It was upgraded to Bitcoin 0.11.2 codebase recently. I wouldn't say it's disappeared into oblivion at all; it's #38 on coingecko, ahead of clams, shadowcash, and anoncoin. Yea, the marketcap is a bit low, but as coingecko reflects the community is still quite active, and it's one of the few "acceptably mined" cryptos according to devtome: http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coinsIt's also traded on the new bitsquare app that's just released as well. Thanks for correcting me. I'm glad to see it is still proceeding as it was one of the early coins I mined. I'll have to check out what's been going on with it. |
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I know you are talking to banks - or my answer would not be friendly anymore  But I like the point you think of, but I think the way is not the right (hard switch) Bitcoin was the new idea - maybe we need something new again (within bitcoin) So we would need a mix from POS and POW maybe. Solving "puzzles" is ok - but why not solve a puzzle like Boinc is offering. YEAH - I AM YETI @Home - and I help SETI@Home  So fill up the POW with sencefull things may help. It would be not a waste of power anymore. Curecoin for example is for cancer research. A pitty BOINC has no COIN - but its 100% science related and I think the oldest system in this public way I know (Seti @Home was my first software like this --- uhhm --- 20 years ago)  And there is always enough to calclulate - even all ASICs and GPU on the world could not solve all REAL puzzles of mankind. You can rent supercomputer power at almost any big research facility for real big money. Why? They dont need power over a day. They need it most time FAST for a SHORT TIME with MAX POWER. And big research companies, goverments and hospitals are buying those power. ofc they are not using a normal pc or server for clustering - you could say they are like ASICs for the science people and always for special coding. Not even one normal software you and I know are working on it - not yet And an ASIC, well --- looks not like I could use it for anything else. I had the luck to see such a big cluster from inside and it is amazing! Not to compare with even a big normal datacenter. Racks, too - but anything else was a new fantastic world I am invited to see it again in 2 years and I will go again. I have so many new questions  --- Under the line. Lets calculate something important and we all feel better with bitcoin. Having them in the own wallet and doing something good while using (and mining) them That is another good idea. I also actually mined with BOINC and CURECOIN too. The problem is it hasn't worked (at least not yet in terms of catching on to a big degree with those cryptos but SETI@home was huge for a while). I suppose this would be POW where the work was more than just securing the network. Is there a specific name for this type of POW? Anyway thanks for contributing it was my intention to have a friendly discussion. I'm not saying I'm definitely right I'm just interested in exploring these ideas:) |
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Sadly, you were incapable of a meaningful explanation, as I suspected. The problem is that POS cannot achieve the quality of security that POW can, so your comparison isn't meaningful. That's why this design is the successful one: it works, lol
Well since you are such a genius I'm happy for you to explain why POS is less secure than POW;) Already did in my first post in here. (see up up up) That one you already quoted. Lol I was talking to Carlton Banks but I'm not sure what you're referring to. Perhaps you could elaborate? |
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Sadly, you were incapable of a meaningful explanation, as I suspected. The problem is that POS cannot achieve the quality of security that POW can, so your comparison isn't meaningful. That's why this design is the successful one: it works, lol
Well since you are such a genius I'm happy for you to explain why POS is less secure than POW;) |
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yt654 The point you mentioned is 100% right, but not possible at the moment. If you would destroy the mining like its at this point, you would destroy the economy. A lot of mining people had loosings (hardware, power etc.). A lot of people are thinking a mining farm can make them rich. A lot of people are paying real money to get some bitcoin - to start the "BIG BUSINESS" ...  But those people are really important. They are like gas/fuel for a car. For now we need them and it will regulate slow by itself. Then we can switch POS to POW. See Peercoin. Did they really win? At the momet Bitcoin is too important in the changes on the financial sector and changing how things are working. I concide to 100% with your thinking and it would be great to see it working - better yesterday then tomorrow. But for now I feel better with: - Dont touch it!  or - Never touch a running system Thank you for your thoughtful points. I understand your concerns and but I think that it may actually be easier and less damaging to switch to POS now when BTC isn't really mainstream. Once it does get much bigger it will be much more difficult to make the change. I think the people who were in favour of an increase in block size have also made the same point. A change later will be more painful for the whole community. I agree that Peercoin didn't really go very far but I think Bitcoin has such momentum that you can't really compare the two. |
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I think that there are a number of reasons this would be beneficial but the main one would be a reduction in the huge amount of energy wasted in mining
explain the nature of this so-called "waste". I'm going to give you a head-start: you can't I can. POS would require less energy therefore POW is wasting energy. Simple enough. |
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There's a reason why 99.9% of altcoins are no longer around. The devs need to do some LSD or something because most of them are unimaginative pump and dumpers.
I certainly agree with you on that! |
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Why not just use bitcoin then? Again, this coin concept sucks and is redundant.
You could say the same thing about any altcoin or other cryptocurrency. |
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To be fair, the coin concept sucks. The purpose of this coin is to donate to artists? Fuk that.
I think the aim is to reward them for their work. Either way I suspect you are one of those people who don't think art is valuable. |
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So any guesses as to how low it will go? I suspect we will continue to see falls until at least 0.01 - of course now I've said that it will probably shoot up to 0.04!
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Bitcoin is what it is largely because of mining. Switching to POS would be disasterous.
That's what I used to think but I'm not so sure now. What does mining provide that POS wouldn't? The fact that obtaining a machine capable to mine the currency costs money and isn't accessible to anyone adds value to it in and of itself. Removing this attribute of bitcoin could take away a big part of the economy that has formed around it and cause massive loss of interest. I disagree. It is the scarcity of bitcoin that (and the fact that it was the first cryptocurrency) that gives it value. POS would not change that. |
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Ofc because no-one needs or trades it. less than a BTC vol per day.
You noticed very good!
Yes sadly though MYR did a lot of great things it seems to have disappeared into oblivion. I think it still being developed though. |
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if the price get down, you think mining difficulty will get down too ?
i notice myr price is more stable
I don't mine any more but in the past I noticed that the difficulty would shoot up whenever the price peaked and then would go down again once it started to fall so if the normal pattern repeats then it should get easier. |
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Bitcoin is what it is largely because of mining. Switching to POS would be disasterous.
That's what I used to think but I'm not so sure now. What does mining provide that POS wouldn't? |
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I don't know who you are, but you do an amazing job collection the relevant ICOs. Keep up the great work mate!
Agreed he/she (ICOcountdown.com) have saved me a tonne of work looking for them myself, so thanks from me too:) |
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$600 will probably be the highest point assuming the price will go in that direction. They keep naming the block halving all the time, but what if there wasn't a block halving? Would they still be that confident that the price will sky rocket this year? I don't think so.
The only thing the block halving will do is push out the little guys who mine and leave only the super sized mining farms resulting in greater consolidation and centralisation moving further and further away from the ideals of Bitcoin. It will likely raise the price but as has been stated previously large sustained price rises are only going to come with greater adoption and it seems with Bitcoin that little has changed in this regard since 2013 when I first got interested in it. Sure there are huge plans in the background for mainstream uses and adoption but they are forever 6 months away or a year away and never seem to actually arrive. It's like Bitcoin is the nuclear fusion of currency - nuclear fusion is always 20 years away from becoming a reality, Bitcoin is always 6-12 months away but it may as well be 20 years. (As for the increasing centralisation of mining I think a switch to POS might help but this is not the right place to discuss that. I have started a thread in the mining forum if anyone is interested to explore that idea: https://bitcointalk.org/index.php?topic=1454710.msg14706074#msg14706074) |
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