I'm hearing rumors this coin would be the last straw for cryptocoins in the event of failure of bitcoin which becomes more likely every day. What does the community think about this statement?
And why is it still so relatively cheap if that was true?
It's more expensive than Bitcoin was, when Bitcoin was the same age. All it takes is time, survival, more users, reward halving; and at this point everything is right on track. Altcoins are beginning to die faster than they're being made, so once the herd thins out for another year or two, there will be only a few quality coins still running. When Unobtanium is 4 years old, people will be more likely to choose it over a new unproven clone coin, and people will stop making so many bad coins because nobody will be interested anymore. When there are only a few coins left, each coin will get a greater percentage of all crypto market capitalization. Of course, people will still make new altcoins, and some of them will still catch on. Years from now, we will roll our eyes when our teenagers buy a new coin sponsored by billionaire pop singer Honey Boo Boo. We will tell them how we've seen it all, premine is a scam, but they'll say Unobtanium is for rich old farts who don't understand the younger generation. We'll try to teach them the value of a hard-earned Doge, but they'll have to learn the hard way. And maybe they'll make some money staking their Honey Boolberry and prove us wrong. |
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What other coin could give you Bitcoin-tier results?
Very few coins have any real possibility of selling for $1,000. BUT - Bitcoin started selling for about $0.01, whereas now we can buy altcoins for $0.000001. Even if they're worth less than 1 satoshi, we can buy them under other market pairs. So Dashcoin doesn't have to give me Bitcoin-tier results, because I didn't pay the Bitcoin-tier price of $0.01. If you buy 1,000,000DSH for $0.50, it doesn't have to perform like Bitcoin. It doesn't have to trade for $1000, or $100, or $10, or $1.00. Your 50 cents will grow into $10,000, if Dashcoin goes as high as 1 penny. And if you're chasing the overnight Bitcoin millionaire dream, that 1 penny price will make you a millionaire from a $50 investment. Of course, Dashcoin might not survive long enough to be worth 1 cent each. So, if that's what you're going for, you could buy $50 worth of a few other coins too. Now you have a much better chance at that million dollars (much better, but still not much), and you've invested $1000 into 20 coins instead of $50 into 1 coin. You might say lottery tickets are easier, but these coins are better than lottery tickets even if you're just a greedy speculator. Because even if they don't "hit", you can still sell them anyway. |
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bitcoin was my one and only way of becoming a millionaire in life and it was right under my nose.
Right now there is another way, and 4 years from now you'll wish you had been doing that instead of moaning on a message board. If Bitcoin continues to grow, it could be comparable to Visa. But then there's still room for Mastercard, American Express, and Discover. If you want a million dollars for a $100 investment, look at which altcoins have that potential. Me, I'm working both angles - if I buy 1 BTC and it gets to be worth $10,000, I still won't be able to retire early. But if I buy a bunch of altcoins and let them grow into 20 BTC, and then those 20 BTC are worth $10,000 each, then it's a good start. Besides, have you even thought about what you would do with a million dollars? I mean, would it really make you happy? Or would you be online 4 years later, saying "I wasted my time chasing bitcoin and a million dollars, and I missed the chance to get married and be happy." Lol no, I would be happy with 1 million dollars. But the thing is, who the fuck is going to grow 1 BTC into 20 buying altcoins when most are scams? I can only think 2 altcoins I would put some BTC long term, and we dont know the amount of BTC needed. Im thinking minimum 1 BTC invested and praying to Saint Satoshi that these alts make it big. Well that's the trick. #1 is this coin an outright scam, or will it increase in value over time and with more users, just like Bitcoin? #2 is this coin cheap enough that I can buy a significant amount for a few dollars? #3 is the price already in a bubble, or is now still a good time to buy? Then you just buy and wait 4 years. That's the part most people can't understand. They wish they had bought bitcoin for a penny, but what good would it have done them? They would have sold it for 50 cents and considered it the profit of a lifetime. |
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I thought the idea was to create a currency that's not dictated by corrupt entities that regulate its value, not to avoid taxes.  Same thing. Or anyway those corrupt entities are the ones imposing the taxes. |
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Good point. I bet those alt coin kids who continually lose money trying to discover the next big thing in the alt world are pretty depressed too. Learn live and move on I say.
Not me. I don't lose money because I don't sell for a loss. I spend $10 each on 10 cheap altcoins, and one of them goes up 10X. I sell 10% of that one, and it has paid for itself. I hold the rest until I want to sell another 10%. The other 9 coins still have the potential to go up 10X. If a coin dies, I lose no more than $10, but I've already made more than that overall. That shotgun approach is how I started out, and it has advantages when coins are dirt cheap. You can buy a million Dashcoins for less than 50 cents, so why not? But I admit, I've moved on from a shotgun approach, and now I only buy coins after doing research. No scams, no premines, no unrealistic promises, no huge stake reward inflation, solid fundamentals, preferably low coin supply, and then you buy when the price has dropped and is already on the way back up. And yes, I'm glad I spent 100% of my tiny btc holdings on altcoins last year. Now I can buy BTC cheaper, and I can also sell the altcoins for BTC. |
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You could have done worse. Some people are wasting time feverishly buying into every new alt coin trying to make up for missing Bitcoin.
Hint: the next big thousand-bagger will probably not be an alt coin or Bitcoin N.0, although I still feel that Bitcoin has room to grow.
Hey, I'm not just wasting time feverishly buying every altcoin - I'm also wasting money. But in my defense, finding the next thousand-bagger is only half my strategy. The other half is just to get more bitcoins. If I already had 1000 BTC, I wouldn't need any altcoins. But I only have enough money to buy a few BTC, so I'm trying to make small profits and build my btc hodlings that way. |
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Everyone would prefer it if miners would only get half the number of coins
They already do get half the number of coins. And they will again. Before you go around declaring "Bitcoin is sick" and telling us what the solutions are, maybe you should find out just a handful of the basic facts about how Bitcoin works. The good news is that you are right about the price going up when miners get half as many coins. |
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Is this another fake account by the same guy who "got drunk and accidentally sent 20 bitcoins to the wrong address" the other day?
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I see your point, and it reminds us that we as humans are out of place in this world. Of all the animals, we alone need money.
In fact, a carrot is a close as a rabbit gets to a diamond.
Now that made my day. Also I got you these for your blog:    |
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quoted for future generations No response, jasemoney?
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looks like i already deleted that old wallet. oopsiedoodles back to none for sale i guess, sorry!
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wish we could get some word on why the normal vert miner for lyra2re wont work.
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gpu all rejects, wallet miner works, diff retarget not working..
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Quote from: fullhouse on January 28, 2015, 09:44:30 PM
Quote from: interbtc on January 28, 2015, 09:24:34 PM
algo Lyra2RE Huh new algo Huh
yeah , seems like a new algo , because only can cpu mining?
i am trying to mine in p2p pool
there resetting the Lyrabar blockchain, changing the diff retarget or just putting in a closer genesis block and going to re-release soon hopefully, dont know what you are mining now unless its vertcoin. it doesnt appear to be a new algo but most people using cg or sg miner with algo lyra2re as is stated in the subject here and referenced in the lyrabar website with links to miners were getting rejects.
this could possibly be due to the submitted work being stale by the time it hit the localhost. with 3-5 blocks per second heh many could have come up rejected for the current work.
when we relaunch make sure to set scantimes to a very low interval to make sure the getwork is fresh!
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says lyra2re should work... guess will wait for relaunch. no sense downloading vert chain just to test their main miners lol they should work! they work for other people.
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problem with the retarget shouldnt be a problem with the mining algo tho..? were you able to get your miner working on the coin aside from benchmark? A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. Quote Quote from: Shadow_Runner on January 28, 2015, 09:11:46 PM Lyra2 and Lyra2RE has difference Huh I've used http://cryptomining-blog.com/4030-new-ccminer-1-5-1-git-by-tpruvot-with-lyra2re-support-available/donno if theres a difference. but your miner wasnt working did you get it going properly before they pulled the plug on this current launch? A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.
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before relaunch, was it algo Lyra2 or algo Lyra2RE
all i got was rejects..
Errmegerd deleting posts is the suzxxors im soo butthurt Yeah, well you know that's just like, your opinion, man |
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wtf is 'lyrabar'and why does the world need it?
Apparently it's a big joke where they tell you about the coin, and then they say "It doesn't exist, I'll sell it to you for .1 yuk yuk" |
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Daniel A. Nagy 3:00 PM on Nick Szabo's blog at blogspot called Unenumerated in May 2011, this snippet lifted from a conversation with Nick.
"It's not just deflation against which BitCoin is defenseless. Given the lack of feedback, it is just as susceptible to inflation:
Suppose that mining costs catch up with market price. Then, for some reason, market price falls as people sell off their BitCoins. Some miners stop. Some may even sell their equipment and quit the network altogether. This will not reduce the supply of BitCoin, just makes the system a bit more fragile. Those who stay in the mining business will see their rate of mining increase, and rationally anticipating further fall in prices, will also increase the rate at which they sell BitCoin, fulfilling their expectation.
People with BitCoin savings liquidate, some businesses stop accepting BitCoin.
BitCoin's market price falls further. The limit is zero. No feedback to stop the ensuing inflation caused by the general shrinking of BitCoin economy. More and more BitCoin chasing fewer goods and services (and currencies).
This is what I actually expect to happen after the current bubble bursts."
Damn. And he was totally right, the bubble burst in 2011, and that was the last year that Bitcoin sold for more than zero. |
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if you want coins off a non existing blockchain ill sell them for .1 btc a piece you know cuz i guess they will be rare in a few years??  Oh you're totally right, I can't buy them because they don't exist yet. So stupid of me to say that. Meanwhile you'll be mining a non-existing blockchain, that's way better. winky face |
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OK you talked me into it! I'll buy Litecoins!
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Is bitcoinlaundry.com a known scam?
It's probably an honest mistake. I don't see how money laundering could be involved with anything dishonest. |
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Now that you mention it, there was some talk about wives and cocksucking.
But as I recall, I refused the offer; although I will not reveal whose wife we're talking about, my refusal may have influenced certain people to lash out with deletions.
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I see your point, and it reminds us that we as humans are out of place in this world. Of all the animals, we alone need money.
In fact, a carrot is a close as a rabbit gets to a diamond.
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BITCOIN. ONE STATEMENT. ELECTRICITY WHORE ! LOTS OF WORK AND NO RETURN WASTED MONEY AND EFFORT .
Satoshi is back. And he is Japanese after all. Bitcoin. One Statement.
You electricity whore!
Just work, no return |
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The average guy living in a sewer in Equatorial Guinea isn't going to care too much about the future of economics.
He may not care about economics, but economics might be able to tell us why he's living in a sewer in the richest country in Africa. Most people would want to give him money; but all he needs is to be allowed to have money. Real money that has real value. Not something reversible, centrally controlled, and worth less every year. That's part of the reason he's in the sewer. |
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