|
The site works pretty well on my Nexus 5. I haven't tried hacking so I can't say much about the console, but the only thing I noticed that wasn't working on mobile was the mining strategy. It wouldn't let you drag the triangle to adjust the fields. Other than that, the mobile version is working pretty okay
|
|
|
|
Yeah, can't wait! Also, do you think in the future you'll have an option for users to pay to have their own listing added to the ones that need to be posted, so they can pay you to get other people to post it for them?
I already have the option for users to pay to have their own listing added to the ones that need to be posted. That would be the "Captain Account", and you can pay for others to post for you, even set the amount of pay per post, and I have a calculator to do the cost per post, total cost, and number of posts math for you. The ability to pay others to post for you is spelled out in the logo. Pay or get paid to post on CL. =) Ohh okay, i misunderstood what the Captain Account implied |
|
|
|
Ahh okay. So how will transactions work then, if there isn't any mining? Will it all take longer because there will be no more confirmations or will it work in a different manner?
There will be mining for as long as Bitcoin exists. New blocks will still be added to the blockchain every 10 minutes on average. The difference is that instead of mining for newly generated bitcoins, miners would be mining for transaction fees instead. Just like today, miners with more hashing power will solve more blocks and miners with less hashing power will solve less blocks. Today, the block reward consists of 25 newly generated bitcoins and the miner gets a few extra (e.g. 0.5 BTC) from transaction fees. In about a year or two from now, it will be 12.5 BTC plus transaction fees. Then a few more years later, it will be 6.25 BTC plus transaction fees and so on. We don't know what the Bitcoin economy will look like two or three decades from now when the generation of new coins becomes insignificant due to continued block reward halvings or whether or not the model of mining for transaction fees is even viable at all although a few altcoins have tried to replicate the experiment. Premine (PMC) is/was one of them: Premine, also known as PMC, is an alternate cryptocurrency that is defying normal convention in its method of mining and distribution. While some coins are mined, or earn you interest, Premine is exclusively redistributed by its users, and block rewards are generated only by network transaction fees...
...Premine is setting out to prove that cryptographic currency can continue long after the minting process has ended, making it not only a fascinating glimpse into the future of Bitcoin, but also a viable and stable alternative that thanks to its low total supply of less than 500,000 coins, allows each coin to store a great amount of wealth. This makes PMC an excellent alternative store of money. To say Premine is the future of Bitcoin isn’t far from the truth.
Will Bitcoin be able to survive once the minting of new coins has ended? Nobody knows. PMC started with a market cap of zero. Bitcoin currently has a market cap in excess of $8 Billion USD. Already suffering from volatile pricing, we may discover that Bitcoin might not survive this transition, and that no coin with such a high market cap ever could. In this sense Premine is also future-proof, having avoided this hazardous transition phase altogether.
Unfortunately, it failed: So... How profitable was (is?) mining PMC for transaction fees anyway?
I've been semi-following this coin for a while and I know PMC was designed as an experiment to see what the future Bitcoin economy might look like once all coins have been fully mined and whether or not a community of miners can be supported solely through transaction fees alone so I'm interested to see how the experiment turned out now that it's coming to a close.
Well, I can tell you the result of that experiment. It turns out people are greedy bastards, and do not pay transaction fees unless they are forced to by the client. Even when PMC was quite popular, and worth quite a lot, it was impossible to get any profit from mining. Transactions with thousands of PMC didn't even have 0.1 PMC in fee. I have been mining PMC from the start, and have been losing money on it from the start as well. So if the rewards for a miner is only the transaction fees (which we assume will be decreased further) then the price of bitcoin would have to be really high relative to today's in order for mining to be profitable? What sorts of price levels would we be talking about? |
|
|
|
|
Ahh okay. So how will transactions work then, if there isn't any mining? Will it all take longer because there will be no more confirmations or will it work in a different manner?
|
|
|
|
|
Also, will the transaction fee remain at the standard 0.0001 BTC? (Was it even always like this back in the early days?) If so, that could become quite a sum to pay for a transaction. And is there a limit to how low the block reward can be? Because if there isn't wouldn't that mean that the cost of a transaction is greater than the reward per block?
|
|
|
|
Over the last 6 years, you've spent 22847.5 hours playing this selection, which includes 82 items, is valued at $1096.32, and requires 425.5 GB
I guess it is not that much. What do you guys think?
Averaging 10 hours a day at that rate... How  |
|
|
|
I'd like to join
Name: rexxarofmoknathal
Posts: 154 (including this one)
Activity: 84
Position: Member
Bitcoin address: 1K35XVxqTCwHSCVxddX2MPsbTNTmV7dwbo
Thanks!
First of all, you have to change signature to join our campaign. Thank you Oh right, that one just ended and I completely forgot about that, sorry |
|
|
|
I know it is a little crazy and I do not anticipate anyone wanting to do it but I am looking to trade a 2008 MB C300 for BTC miners. I am going to sell the car later this week but wanted to give this a shot first. I have more cars than miners and want to change that around. The car has 69k miles and has an extended warranty up to 75k miles. It runs great and is in good condition. I will upload additional pics this evening. It is pretty dirty in these pics but the weather is nice so I am going to wash it today. Clean Title in hand.    Ok SOLD, I've got over 70 BTC Asics miners.... 70 Block Erupters avalon Batch 2 Knc Mercury Bitfury Full Kit 2 FPGA Miners Gridseed Blade Woah that's crazy  |
|
|
|
I know that sounds bit paranoid but I am very carefull about services that want my ID and telephone number. It looks like they use dust payments just to gather ID of Bitcoiners.
Yeah, I stopped using it when it asked for my ID and other personal information like that. Wasn't willing to give that when there are many other alternatives that don't ask for it |
|
|
|
|
I'd like to join
Name: rexxarofmoknathal
Posts: 154 (including this one)
Activity: 84
Position: Member
Bitcoin address: 1K35XVxqTCwHSCVxddX2MPsbTNTmV7dwbo
Thanks!
|
|
|
|
|
Sad to see it go, but it'll come back well
|
|
|
|
This ones different. Guess I'll check back here Friday and if I see all is well I'll probably join See you on Friday! I will have more features by then. (Field for bitcointalk usernames so I can give them positive feedback after I pay etc. And other options I am embarrassed to say I have not yet added. Still growing the site! ) Yeah, can't wait! Also, do you think in the future you'll have an option for users to pay to have their own listing added to the ones that need to be posted, so they can pay you to get other people to post it for them? |
|
|
|
|
Meh let's give it some time, it'll come around when it's fully ready
|
|
|
|
|
Currently dumping all my coins. Thanx 4 saving me m8
|
|
|
|
This ones different. Guess I'll check back here Friday and if I see all is well I'll probably join |
|
|
|
|
For faucets, its not a bad thing. Most of them offer instant payouts, and some have the extra bonus as mentioned. But there are more trusted wallets that can be used when dealing with larger amounts.
|
|
|
|
How much can we expect to make from the Lake when it's released?
Somewhere between 1-3 gold / minute. I haven't decided on anything. Maybe 1-2 / min again like originally. It is only intended to kickstart new users and will become useless once they advance. Yeah, that's not bad. Also, I just went back to the mining page and it says Countdown Loading.... then the page refreshes. I'm assuming on the refresh it's supposed to display the time left after refreshing, but the site ended up in a continous loop of refreshing and Coundown Loading... and it didn't stop until the mining action was over (but it didn't properly display the time) Hmm is this still persistent? And what timezone are you living in? Might be due to Daylight Savings. I was worried this would happen around this time, but Daylight Savings isn't until next weekend here. I'm in EST so our clocks changed a couple of weeks ago. But i just tried again with a new mining action, and it's all displaying properly. Guess it was just a one time glitch |
|
|
|
How much can we expect to make from the Lake when it's released?
Somewhere between 1-3 gold / minute. I haven't decided on anything. Maybe 1-2 / min again like originally. It is only intended to kickstart new users and will become useless once they advance. Yeah, that's not bad. Also, I just went back to the mining page and it says Countdown Loading.... then the page refreshes. I'm assuming on the refresh it's supposed to display the time left after refreshing, but the site ended up in a continous loop of refreshing and Coundown Loading... and it didn't stop until the mining action was over (but it didn't properly display the time) |
|
|
|
|
Show Posts
