I am in the unique position of having both technical and macro economics expertise. Smooth is also very astute, as you can see. I am just beginning to get familiar with NewLiberty.
Unique? Don't flatter yourself.  For such a special econometric snowflake you have a poor understanding of game theory: the Nash Equilibrium continues to equilibrate:  Funny how 'unknown' seems to have expanded. |
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Thanks for teaching me why I now hate checkpoints. They could be an insidious vulnerability for the fiat politics to take over the PoW decentralization!
This is one reason why I say that cryptocurrencies simply may not work. Ever. If there are people, there is politics. Possibly math can be made to serve as a partial substitute, but we certainly aren't there yet. As we know giving all the power to the miners is not the way, especially when no demonstrated mechanism for decentralizing them. There are ideas, as we know, so we will see. I agree that's a distinct possibility. I think Bitcoiners are especially delusional with regards to what they beleive is actual decentralisation. At least with most altcoin people we can see that true decentralisation is something that's being worked towards. Bitcoiners started in 2010-2012 selling people on this "anonymous" cryptocurrency. Then over time that faded away and "trustless" became the sales point. Now we're left with "decentralised" being the primary feature, and we all know how "decentralised" Bitcoin really is. It just might not be possible to reach that holy grail. People are trying though, so we'll see. But even so, doesn't mean that we can't build interesting things and come up with interesting uses on top of our pseudo-decentralised currencies. They still might offer an effective alternative to some other forms of commerce in certain situations. |
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There is a lot you can do in crypto these days without trading dinky Alts on dinky exchanges.
Such as? BTC economy is pretty shit too from what I can tell. Trade BTC with leverage and shorting abilities perhaps? |
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Funding crypto projects seems to be a major issue even among well established currencies.
For all the flack(trolling?) that I've seen BBR take over the so called "tax"(even though it's optional) I'm surprised to learn it's as little as $750 a month.
Hopefully you guys can figure out a good arrangement. I know we've(edit: we being Bitmark) had major issues with developer funding and it seems to be a widespread problem with every currency that didn't do an ICO, premine, instamine ect.
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@tdokta - cool, well done! I know you had electricity supply issues, as do I when my wife sees the bills! (Naturally, I pay the mining element of these but doesn't stop 'the look'!) Hi Andronicus. After I made that post, I had a bit of a think about it and realised I was probably helping myself more than the coin and other miners (as you rightly mention). So, I've now parked my miners on BTM for better or worse  You can see me on xhash as ben96c - it's a long story why I mine under that name!! @johndec2 Thank you - yours and @melvster's responses are an intelligent appraisal of the current yo-yo mining effect. Furthermore, your method for collecting a greater quantity of BTM than straight mining is also a perfectly pragmatic approach, for your desired outcome and not for me to criticise.
However, my simple outlook is that if all miners adopted the same approach, the yo-yo effect would be even worse. It is the consistent miners, like myself, who confirm the currency at high difficulties that you have mined at low difficulty and support the network whilst other miners switch to more easily obtained currencies and perhaps trade them to BTM.
better or worse, you will see us in xhash too, also in the process of upgrade of machines, soon to point at least a gig once once operating efficiently. we have to upgrade electricity lines to our facility, which is taking a little more time than expected, almost there. yup had that "look" a few times from others that share in the power bill, although always covered. just increased to 800mhs, soon to push through further as the supply lines increase. we have had to get 41kva transformer installed to the facility, plus new 3phase system in the pipeline. once set up looking at around 30kw of energy use ... sort of mind boggling as i can see how much we are using, and the workers that are running 30ghs wow, the numbers of machines that are running there, its almost lunacy ... Wow! That is insane. Quite the operation you have going there. Sounds like a fun project. |
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A lot of it depends on your access to a reliable Bitcoin exchanger where you're sending and receiving the money.
At this point in a few countries you might be able to buy and sell Bitcoin with a reasonable spread and even though you have to go fiat > BTC > fiat you might beat out other remittance services.
But often enough in many countries your only choice in this type of situation is to make your fiat > BTC > fiat exchanges through localbitcoins traders, some of whom charge around 10% on the spread. And this is in many of the countries where having a Bitcoin as a reliable method for remittance might actually take off. Unfortunately for now we'll need to wait in many cases for traders to become more competitive and lower their spreads if we really want to see Bitcoin compete in the remittance sector on a global scale.
If Circle goes worldwide and people all over the world can buy and sell Bitcoin directly from their local bank account then that might do it. It's heading that way, but it's still mostly localized for the US market at this point.
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Is anyone else having problems withdrawing from Xhash?
Block chain is stuck or something? 2 sources at 44,807 block for hours.
Not sure about xhash. But the blockchain is going very slow at the moment. 44808 is the current block as of this post. When the price drops a little production slows down and as a consequence of that the blocks also come slower. But on the upside the amount of BTM produced is far lower than it would be otherwise. As of now the current BTM supply 896160 BTM, and otherwise if production was right on schedule we would already have 1222760 BTM. So there has been 326600 less BTM produced which seems to make some of the BTM holders happy, despite the obvious inconvenience of very slow blocks sometimes. As adoption increases (as it should going forward), as marking is rolled out the network will readjust and the timing should go back to normal. |
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notice the same two guys bumping away any criticism her guys ?
anyone say a word and they grin and get giddy and think their crafty and post 12 time sin a row random bullshit !
trying to sweep up the negativity around Monero under the rug in the process..
like hearing a blow hard ramble on about Monero non stop guys ?
Except in this face TheFascistMind isn't a Monero supporter at all. So I don't think that theory really holds up. |
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Sometimes it's good to do primary research. The thing I took for granted - that altcoins are shattered when BTC sneezes - has proven to be a myth of highest order: COIN CAP15SEP CAPNOW REMAINS REL/BTC
BTC 670000 442211 66 % 0 %
LTC 17350 12643 73 % 7 %
DOGE 3260 2786 85 % 19 %
PPC 1752 1848 105 % 39 %
DRK 1342 1073 80 % 14 %
NMC 1026 940 92 % 26 %
PTS 559 620 111 % 45 %
BTCD 721 401 56 % -10 %
XMR 627 350 56 % -10 %
BCN 280 200 71 % 5 %
FTC 126 186 148 % 82 %
QRK 252 178 71 % 5 %
XRP 15053 13704 91 % 25 %
BTSX 7327 5984 82 % 16 %
NXT 3794 2513 66 % 0 %
XCP 646 529 82 % 16 %
I selected Sept 15 to be the start of data due to that being the start of BTC fall (admittedly, it was selected to give a bad picture about BTC). My intention was to show that alts fall in sympathy, and generally leverage BTC's move down. This had been my experience with XMR. Now, the data seems to give quite an opposing testimony. Over this period of time, only two alts (XMR and BTCD) exceeded BTC's decline. When BTC declined by 34% (seen above as "66% remaining"), the basket of alts (I used cubic-root weighting) declined by only 17%. What do you think of this?  Also, perhaps with XMR was a self fulfilling prophecy with regard to the recent decline. From what I can tell XMR seems to attract many people such as yourself who have no interest in alts other than XMR itself. So perhaps all these XMR holders were under the impression that alts nose dived along with Bitcoin(I would have expected this as well for the most part I think) and sold off in anticipation of that. |
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@rpietila what about for the new altcoin ARCHcoin ? Can you give to the community an opinion .
Have a nice day .
You didn't ask me, but I keep seeing these catch phrases applied to that coin: "Designing Profit" and "The Profit Network" Reading those lines make me want to never touch it in a million years. Sounds like something that you would find in an MLM scam. |
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Sometimes it's good to do primary research. The thing I took for granted - that altcoins are shattered when BTC sneezes - has proven to be a myth of highest order: COIN CAP15SEP CAPNOW REMAINS REL/BTC
BTC 670000 442211 66 % 0 %
LTC 17350 12643 73 % 7 %
DOGE 3260 2786 85 % 19 %
PPC 1752 1848 105 % 39 %
DRK 1342 1073 80 % 14 %
NMC 1026 940 92 % 26 %
PTS 559 620 111 % 45 %
BTCD 721 401 56 % -10 %
XMR 627 350 56 % -10 %
BCN 280 200 71 % 5 %
FTC 126 186 148 % 82 %
QRK 252 178 71 % 5 %
XRP 15053 13704 91 % 25 %
BTSX 7327 5984 82 % 16 %
NXT 3794 2513 66 % 0 %
XCP 646 529 82 % 16 %
I selected Sept 15 to be the start of data due to that being the start of BTC fall (admittedly, it was selected to give a bad picture about BTC). My intention was to show that alts fall in sympathy, and generally leverage BTC's move down. This had been my experience with XMR. Now, the data seems to give quite an opposing testimony. Over this period of time, only two alts (XMR and BTCD) exceeded BTC's decline. When BTC declined by 34% (seen above as "66% remaining"), the basket of alts (I used cubic-root weighting) declined by only 17%. What do you think of this? What's interesting though is that the opposite I'm pretty sure is true though: that alts make big gains when Bitcoin does. Perhaps due to all these new holders of BTC seeking some leverage. If BTC starts making a come back things could get pretty interesting. Especially because as you've shown, not much has happened to alts since Sept. 15th. |
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1) Satoshi got hacked, the email adress popped up recently, his Bitcoins get dumped. Since all Altcoins reference their trade value on that, going down in flames too. Should be visible inside Blockchain analysis.
Pretty unlikely this is happening. People would notice it I think and be shouting it from the rooftops if those coins moved at all. |
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Doxing, (possible) FUDing, insults as per forum rules are allowed as long as they are on-topic and constructive. From what I've seen, it seems he is posting it in a constructive and calm manner. The topic is about the involvement of a person in an altcoin community, which fits the category.
Can you explain what do you see as constructive in bluemeanies attack against the employer of the person he is bullying? I am not asking that you give a reason for not acting, your reasoning is clear to most so far, but can you explain the "constructive criticism" part of bluemeanie1s posts? You hunt down the giveaways and the sig campaings, but now that there are personal unprovoked attacks for no reason whatsoever you decide that all is fair game.. There is nothing constructive about this thread, other than the personal attacks. Mprep you are actively covering joshua/bluemeanie1/moneroman88;s actions. Something that gives somewhat useful information, describes an opinion with arguments in a somewhat civilized manner. A counter example of non-constructive content would be someone constantly attacking someone directly using only personal attacks and providing absolutely no other arguments. For example, a post "You are stupid." or "I think you are the biggest dumb ass ever" with no other arguments or info would be considered non-constructive since it contains zero value. The thread in question is somewhat constructive (although it might not be a great example). As I already mentioned, as far as I've seen, he provided a dox and was trying to find out the involvement of a person in an altcoin. He didn't threaten the person, he didn't troll (habitually post obvious nonsense), nor did he break other rules. Yes, it might seem offensive to some, however, the forum policy is based on free speech. If a person thinks that it's suspicious that another person has taken interest in a particular subject, he has the right to analyze and bring up any already public information. Let's not forget dox is a compilation of already public information that was retrieved legally. Most of it is gathered by using search engines and linking together various details found on those search-indexed websites related to the person. My take on this having zero interest in NXT or any involvement in the thread is that to me it appears that Bluemeanie1 was simply trying to figure out why a healthcare network would be backing a cryptocoin. Which is a legitimate question. ~BCX~ lol, where did you get that idea? |
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Pretty sure no one owns more than 50 million. http://charts.nxtcrypto.org/cDistribution.aspx for distribution. There's a better one somewhere that shows top 100/1000 accounts, but I can't find it for some reason. Distribution is just one of those things with NXT. It's actually kind of crazy, since none of the big stakeholders can sell and make millions without far greater adoption anyway. They just create selling pressure that keeps the price down, so if you believe the tech is going somewhere, you can still get in cheaply now. Edit: distribution is improving, but it's hard to tell. Look at SuperNET: tens of millions of NXT in the same account. But some belonged to whales whose accounts are now smaller. This is why SuperNET and other successful assets are critically important to the success of the whole NXT ecosystem. Yeah, superNET is already and will definitely be a good thing for NXT distribution. NXT whales will have to provide the liquidity for all the NXT that has to be traded constantly for superNET to run smoothly. |
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Doxing, (possible) FUDing, insults as per forum rules are allowed as long as they are on-topic and constructive. From what I've seen, it seems he is posting it in a constructive and calm manner. The topic is about the involvement of a person in an altcoin community, which fits the category.
This thread could go very bad very quickly if you're reading the same thread that I am. Seems like this best thing to do would just be to delete it now before it gets worse. It's already gotten out of control imo. You could lock it too at least. |
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Full disclosure, I've never been interested in NXT due to the distribution, but after getting involved with it a bit, it really is very cool tech.
Well, you just helped distribution The "unfair" distribution was never a problem for me. I could have invested in NXT right at the beginning but was too dumb to do so. Those who did invest made a fortune and they deserve it. The technology behind NXT is far ahead of any other coin and it should be in the #2 spot behind Bitcoin right now. The reason why it isn't is because the early investors are selling their coins too cheap -- they don't care because they have so many! It needs to rise by about ten times to get to #2 which means that NXT is still ridiculously undervalued. If the SuperNET turns out to be a huge success then it's not unreasonable to expect NXT to challenge Bitcoin for the #1 spot on coinmarketcap.com. Anybody who is reading this and who hasn't tried NXT, do so now. I think it's pretty telling that so many 'prominent' bitcoiners are so vocally against NXT. And their reasoning from what I've seen are incredible shaky or just down right wrong or misguided. The original NXT holders will probably just continue to unload their coins cheaply on to the market for a while. Anyone being able to buy NXT for pennies now kind of makes the distribution thing somewhat of a moot point I think. As long as some these people who hold large 50 mil, 100 mil plus chunks of NXT sell a good part of them off then there's not too much you can really say about the distribution. Not to mention BCNext making a public 2 month cheap IPO where anyone in the world was welcome to send their BTC in exchange for a stake was not so bad in my opinion. This PoW --> PoS thing is fine I guess too, but it seems wasteful to me to spend so much money on mining when the end result is similar. It's possible that there are people who hold much larger amounts of NXT then I assume, and to be honest I have no idea. If People hold massive amounts then they should publicly divest them over time for the good of the currency. |
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Have you made any reddit posts yet? If so link them here. Reddit can be pretty brutal with all the malcontents downvoting things. |
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Expect a big BBR announcement on Saturday, fyi.
What kind of? BBR stands for Boolberry. BBR is also part of superNET fyi. |
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The good news is that 95%+ of the crypto world still doesn't understand and most won't invest until they do. Just a matter of time really.
I totally agree. At first I was pretty frustrated that it was so hard to put all the pieces together to figure out what was going on. It honestly should have been presented better. Every single person I'm friends with(from real life, to twitter, to friends in IRC) didn't buy because they didn't get it. However, the bright side is that once they start to get it and start to buy it will go pretty quick. There's a ton of money still out there that hasn't gone in yet. Yes, that's probably likely. There are a lot of sharp people on here who don't seem to get the idea or they're being willfully ignorant of it. As time goes on our communications will improve and people will begin to understand. Your work on the FAQ is a big help in that regard as well. |
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