For some reason, I feel Satoshi intended the mining process of Bitcoin to be "fair" as in "anyone can have a go and get somewhere"
SHA256 soon will mean only ASICs are worth mining with. Anyone can get an ASIC, though. They aren't any more out of reach than a big GPU farm, or a big CPU farm. |
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Let me take care of the borders of my own private property.
Meanwhile, stop oppressing my potential new neighbors. They have as much right to buy the property next to me as people with the same color skin and same language as me.
(Frankly, they work harder and have better character, too, but that's neither here nor there.)
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Wow, that's a great quote, and I don't think I've seen it before.
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it is also not correct to assume that the security 1 Litecoin confirmation gives is equivalent to the security 1 BTC confirmation gives. Correct! Almost nobody in the altcoin world seems to be aware of this. (And that's a good way to state the problem.) |
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Litecoin also has faster transaction confirmation times, since blocks are mined at a 4x rate. This isn't actually true. |
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Yep, you lost me when you threw bbqcoin in with the other two.
So where are BBQ coins traded? BBQcoins are traded at RBCex |
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Altcoins: because maybe a global transaction register doesn't scale so well after all.  |
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Traded: 1000.0 BBQ <=> 0.30 BTC
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Freedom is most important in p2p opensource cryptocurrency,even if it make the its market value (w.r.t fiat currency) swing like a sine wave. I hope it was clear from my original post, but I agree. I was kind of shocked to realize yesterday that, as an altcoiner, I am the boogeyman of the week responsible for the Bitcoin price not being where people want it to be. I wonder who will be at fault next week. |
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Love the name.
I am trying to mine a non-ASCII coin and not having much success. Is this a U.S.-centric coin?
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573
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Alternate cryptocurrencies / Altcoin Discussion / Re: PPC, TRC, FRC, FTC, NVC, BTE ,BBQ, BTB, CNC Block Explorers
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on: May 05, 2013, 03:16:55 AM
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It looks great, dw! This is an awesome service you have been providing to the altcoin community. I use it every day.
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574
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Alternate cryptocurrencies / Altcoin Discussion / Re: PPC, TRC, FRC, FTC, NVC, BTE ,BBQ, BTB, CNC Block Explorers
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on: May 04, 2013, 05:07:36 PM
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Bytecoin is sha256 iirc, so luke jr asic attack and will there be a bytecoin anymore?
That would be awesome; then we could all mine Bitcoin while he does it! |
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We have a situation where people will jump on any new coin because they believe price will go up. As a result, price does go up - its a self fulfilling prophecy. But what will the end result be? Will this effect of dilution/inflation simply continue Nobody has infinite wealth, so obviously this could not continue without limit. There will be an equilibrium. |
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I recommend Bytecoin. It's the reference altcoin. If altcoins have any value in general, then Bytecoin has some value. Plus Bytecoins value may really pick up in the distant future as Bitcoin becomes more expensive per unit. I think over time a series of identical coins created at each Bitcoin halving have the potential to take over smaller transactions and become "change," or "silver" to Bitcoin's "gold."
So far I don't see that any of the altcoins add a whole lot to Bitcoin, although in general I think the diversity is good. I think Bitcoin's design on its own has plenty of potential to succeed, and therefore if there's going to be an altcoin, I think one that trails Bitcoin has plenty of potential.
I actually tried to create something like Bytecoin awhile back but had too many projects running at once to figure out how to create a new genesis block and chain. When it emerged, I jumped on board.
Prior to Bytecoin, I favored the most Bitcoin-like altcoin, Terracoin. I still like it and hold a small amount, and as you can see it still holds value. Do some reading into the history the last few months though. It is likely applicable to both Terracoin's future and Bytecoin's.
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3. You can make a decent ammount of BTC using said shitcoins if you are smart, and if you are In-the-Know you can hoard a lot of them.
4. This will eventually cause BTC to lose legitimacy. No it won't. That's a fantastic leap. |
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April 9, 2013: evil hoarders (people who have a higher demand for Bitcoin than I think they should have) are driving the Bitcoin price up.
April 11, 2013: evil exchanges (people who didn't invest as much in the quality of their exchange platforms as I think they should) crashed the price of Bitcoin!
April 12-May 1, 2013: Evil speculators (people who buy and sell Bitcoin when I think they should not) and evil manipulators (people who bring fiat currency into Bitcoin when I think they should not) are driving the price of Bitcoin up, down, and all over the map.
May 3, 2013: Evil alt-coin creators (competitors who create similar products that I think they should not create) are driving the price of Bitcoin down.
I would be so much better off, if other people did not have the freedom to do these things that I wish they would not do. Therefore, these people must be evil.
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I'll just mine for the money now, not for trying to improve and make the cryptocoin concept be a new way of making payments and get out of the Fiat Scam. The reason is that we're getting a flood of shtcoins ruining the show. First example is Feathercoin, it brings nothing new to the table but it had a huge and very smart marketing campaign along with alliances like BTC-e to get a lot of profit in a short time, now I can see the same being done with CHN (CNC) and I guess this is going to be an ongoing trend. The problem with this "alt coins" is that they are derailing the original purpose of BTC and now it's just a speculation game with tulips. In a few years we will have a flood of cryptos with a lot of volume, more and more altcoins with good planning and marketing (Shills on this forum) which will eventually end in serious coins like BTC and LTC on the same level as these jokecoins. Anyway right now I'm mining FTC, will flip them for profit then ride the next train until all this fad dies off. Thank you for ruining the game phaggots.  Isn't this just a little dramatic? How does all of this keep Satoshi-style cryptocurrency from accomplishing the goal of giving people a chance to get out of fiat? (P.S. We lowered the hash rate for you on some of the longer-established coins. You're welcome! ) |
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