The price of Bitcoins is starting to show all signs of a bubble. I believe that a currency doubling in value each second month lacks the thrustworthiness to become a substantial currency. Another problem is the uneveness of distribution: If a handful of people holds a significant percentage of the whole moneysupply, the stability of the of the price and moral consent is both at risk. No, its not from jealousness - I've bought my Bitcoins already.
Is it not time to start Bitcoin2? (I presume it is technically achieveable..?) It would get a much broader start and not bear such likeness of lottery. And the rate of mining new coins shold be set to level of in much longer perspective, and for a much larger number. And some smart way of exchange between the old and new Bitcoin.
There are already several altcoins. I think TerraCoin fits the bill you are looking for very easily, and there are plenty of reasonably easy ways to exchange. Another altcoin might also work just as well. |
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I had the same concern when I saw how this announcement was worded.
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I find it extremely easy to ignore the posts I'm not interested about.
I really can't see how a copycat site would gain traction and why would that effort be justified.
Well it would be more like "splitting" bitcoin talk. Although I didn't know about the various ignore features, i dont' find it so helpful in terms of boards where I am interested but the volume of nonsense is hard to filter. I will check out the ignore features in greater depth however. I have a pretty healthy list of people ignored, and that helps some I think. I think I'm going to try ignoring the newbie board as well, at least for awhile. |
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I saw a post about this on another thread- maybe it's time to create a second bitcoin talk that would be more focused on productive discussion about Bitcoin itself. IE: no service discussion/scammer tags, no basic techsupport like, "where are my satoshi dice payouts", etc....
The community has seen such a huge influx of new people to the forum that, through no fault of their own, it's diluted the usefulness of the forum entirely. There are so many posts about extraneous stuff, trolling, nonsense, you name it, that it's hard to follow any productive discussion at all.
What about a new bitcoin talk, heavily moderated focused really on building bitcoin. The mods would have wide censorship abilities to keep name calling to a minimum and keep discussions on track. Freedom of speech is one thing, but the thousands and thousands of opinions that come now from left and right just drown out anything of value and building bitcoin requires more concentration then seems to be available here anymore.
I think to really make this work you would need to nail down a lot more specifics about what is and is not to be discussed. No discussion of services at all? So the discussion is centered just around the bitcoin protocol and clients? Or am I misreading? |
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Miners ASIC creators are the hard workers that drive the system and DESERVE to be rewarded. That's why they deserve a FAIR coin like litecoin TerraCoin.
FTFY  (All kidding aside, I am happy for LTC's success and hope they continue to succeed.) |
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Maybe it is going out of style. Maybe both LTC and BTC-E are going out of style! Okay, trash talk mode over ... I'm looking for BTC-E volume figures to compare, and can't find them. Links would be appreciated. |
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BTC/LTC: 282.6062
BTC/TRC: 317.2194
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My ideal altcoins are an exact clone of Bitcoin, with a new genesis block, with a new chain/coin started every time Bitcoin halves.
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Another alternative would be to purchase VouchX at AurumXChange and then fund Vircurex from VouchX.
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Is that a onetime requirement or should it be a permanent feature? Whats the timeframe you are looking for?
For me I think it would be a onetime requirement, but others might like to have it going forward. I personally would like to be able to get the entire trade history for TRC from the moment it was offered. It would be nice if somebody like bitcoincharts had ahold of your historical data and could make it available gratis or for a fee for access. BTW, I noticed you added Yubikey authentication! |
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Is there an API to get trade history older than 7 days?
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Before someone finds this and brings it up again- in light of the incredible jump in the hashrate, and price, I'm finishing the bounty. It was a great opportunity while it lasted! Although Greedie unfortunately never fully owned up to finishing what he claimed was completed. I sent him a 1000 coins on his promise to make it work, but he never followed through.
Thanks to everyone, and I'd consider a new bounty- with a new bounty number. :-)
Thank you for making these initial investments to get the Terracoin economy on the road! |
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Post that picture to all the people who follow your encouragement and lose their money So far, I've been gaining money. |
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It looks like 200GH came from one source, up and down. Only ASICs can do that.
The question is, how difficult it is to retarget a ASIC miner from BTC to TRC?
it's as easy as editing pool config in your miner config file and restarting. Then it means the entire TRC network is at the mercy of a few ASIC owners, hoping they'll play nice. Correct? No, it means there are great opportunities for ASIC owners in securing the TRC network. This is a price signal for more people to jump in, and more people jumping in will be the result. |
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Has anybody thought about the legal consequences of this ? Oh no! Free people doing what they want with their own hardware! Can the core devs now bear "the legal liability for managing and providing an unlicensed, unregistered pre-paid access program that allows private and unlimited peer-to-peer transactions"?. Why would people need a "license" to operate their computers as they desire? |
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A few weeks ago, acceptance at BTC-E was an indicator that a cryptocoin had "made it."
Since that time, TRC has been added to one exchange, another newly announced exchange in the works is going to open with TRC accepted from day one, and the value of Terracoin has hit all time highs.
I submit that Terracoin has made it, without BTC-E. While at this point an additional exchange will be great, I think we have proved that we will move along without them just fine, if need be.
So I continue to support Terracoin at BTC-E, but if it doesn't happen soon, I wonder if the world will simply leave them behind.
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Yeah I guess the site is using a BTC API instead of TRC. Also another suggestion: You should ask to re-enter the password when signing up, since people using a strong password are more likely to make a mistake entering it  I somehow missed noticing that when I signed up. Yes, entering the password twice ought to be a requirement. |
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EDIT: We WANT ASIC to mine it. The higher the hash rate, the more secure the network. Its a good thing. Thats why you should be mining now- because when ASIC comes your going to have to get something better then GPU to make some coins. Exactly. |
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All the free open source bitcoin exchanges I have looked at are not the latest up to date versions, last time I looked.
They seem to make an initial sketch that kind of works, then go proprietary in making it real and useful and using it with real money.
I myself am going with Open Transactions so far, as that really is free open source stuff all the way, it isn't some old version not actually being used for real in the form you get to grab from github or sourceforge or google code or wherever.
But Open Transactions does not include all the "glue" stuff such as actually checking whether you have any bitcoins in your hotwallet and if so who they are from, and go on to credit it to their Open Transactions account and move it to the coldwallet and so on.
That part I actually do not even want to do, so hey if that is the part you like maybe you could consider acting as a market maker for me, accepting bitcoins from people and sending them bitcoin tokens on my Open Transactions server (for a fee) and accepting bitcoin tokens from people on my Open Transactions server and sending them actual bitcoins in return (for a fee)...
-MarkM-
Mark, am I reading correctly that you have a new exchange in development? |
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