Interesting graphs. How did you carry out those GPU simulations? Is there a GPU miner out there for YAC?  |
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I was wondering, how is it all these pools are 0% fee, even the popular litecoin one? Do donations really cover the server costs?
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well thats fine, there a lot of alt coins I don't agree with, just because I insulted your precious coin, don't blame me if you take it personally. And secondly if you got banned or think anything about my chat actions thats your own loss. Id think you find a majority of the users on their agree with my actions....
This has nothing to do with your btce chat actions, I've never even spoken to you on there. You can insult coins all you like, but your behaviour towards me and others in that forum topic I am referring to was unacceptable. I was shocked when I visited your profile and discovered you're not a 14 year old child but in fact a man in his late 20's. All because you wanted to buy some Feathercoins and you didn't like how much they selling for on the forum. Good luck trying to launch a professional service when you conduct yourself in that manner. |
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The FlashCoin blockchain will take up 1 terabyte of storage space on your computer within a year if this ever became popular.
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BTC or USD, the fact is LTC was very low prior to Gox rumours. How much it costed 1 year ago is absolutely irrelevant here.
It was over a dollar a few hours before the gox news broke. And it was 80 cents a couple of days before that. And prior to that it was 40 to 70 cents for a few weeks. Nothing like 3 dollars where it is now but it was still showing solid growth, and at the time those numbers were massive for an alt currency. What really kicked it off is when Bitcoin broke $32 and started it's bull run up to $260. People started kicking themselves for missing the boat and looked for 'the next bitcoin', at the same time lots of new blood came into the game, brought in by the media attention. |
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Last month the price was $2.5 for a while.  Besides Bitcoin was equally volatile in it's early days. |
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It seems to me 'market making' will be the primary activity, other than development projects, for the 50% of coins. Yet, I see no finance team to complement the dev team. You show no credentials or resume, hide behind an avatar like 99.9% of other users on this forum, and somehow we're supposed to be comfortable with the idea your skills as an arbitrageur and capital/finance manager will provide positive ROI for 50% of mined coins? How in the world is this different than banks using deposits so poorly that once the market turns against them (eg. mortgage market) even slightly, they will need a bail out? Congrats, you have invented the open source version of this financial nonsense. Except there is no central governing entity to bail out zenith coin. It will just fail, leaving a wasteful carbon footprint and nothing more. This is laughable. And all transparency will do is allow us to better see you risk assets and, consequently, DESTROY future development projects. Your 'market making' activities will have the exact opposite effect of creating incentive for the devs. I repeat, this is laughable.
Let's speak about arbitrage here for a second. Current crypto markets are extremely inefficient, so any basic level of automation can easily profit out of this inefficiency. Yes, lets speak about arbitrage. Being a former fund manager for over ten years, when you simplify the dynamics of market trading, be it arbitrage or whatever, as a 'basic level of automation,' then I become wary of your business model. It shows your inexperience, and quite frankly, immaturity and lack of discipline. Show me your proposed scheme. Is it strictly lateral arbitrage? That is, will you exchange zenith coins into BTC then transfer coins to mtgox and sell the BTC into USD? And then what happens if BTC runs? You've basically crippled your returns. And what if you need to purchase BTC and you've purchased at the top of said run and BTC falls? And again, what are your credentials to even propose that there's a 'basic level of automation' which can enable arbitrage opportunities? Who's the trading team? Or are the devs, who are supposed to be working on projects, going to have to spend their time doing something outside their level of expertise? I can go on and on... It is clear the model for your coin is ill-advised. As you say, there are clearly some level of risk with regards to arbitradge and a potential to take on loses. Not every strategy may work long term. Howwever, this model is much better than any of the other coins that are out there. What value do they provide other than serve as an indirect way to mine BTC or LTC? This is the third time you've ignored my inquiries into your credentials as a capital manager and the details of who the trading/finance team is. It is clear there is no trading team. And it is safe to assume your resume lacks any experience in capital management. A coin is only as good as its devs and their requisite skills. So to answer your question as to what value do other altcoins provide, apparently the same value of zenith coin. As of right now you're just a seven character string asking everyone to assume your the Warren Buffet of the cryptocoin world. But I thank you for the chuckle... We intent to bring on board an individual experienced in HFT and another individual experienced in Energy Trading. Over time, we may solicit more expertise. But at this time, the core team are mostly software developers. Oh so you plan to use the 50% for your own HFT operations and yet we're supposed to take the published trading records in good faith, right? This is hilarious. Here, do yourself a favor, get this trading team of yours together, whip up a trading business model, go to btct.com and file for a debt offering. Repay your debtors interest/dividend payments via your trading profits. You'll see this is more viable and your fiduciary duties and obligations will be contractual (though still not legally binding, since btct.com makes it clear everything is virtually a game). Using a cryptocoin for your HFT ops guarantees nothing for either side. |
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I think a lot of folks are turned off to altcoins in general, from the sounds of it and the recent crap coin floods. I like YaCoin personally. Here's to it's continued market growth.
Yeah. Even legit ones like PPCoin with continued active development, have been taking a beating lately. Will be interesting to see what the crypto landscape looks like 6 months from now. |
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Not using your service because you swore at me in the forum and threw a tantrum like a child a few weeks back. In fact your entire attitude to everyone in that feathercoin topic where you tried to buy some was shockingly rude.
Learnt to conduct yourself on the forum in a professional manner if you ever plan to launch a service to people. I for one wouldn't trust someone like that with $1.
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This guy is the biggest hypocrite ever. He bashed Feathercoin for being a clone etc when it first came out to the point he was almost crying (btce trollbox and on cryptonit). Then it went to the moon and he raged like a little baby non-stop... Now suddenly he wants to release a clone coin and keep half the coins to himself |
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WDC had more votes and it has a bigger community behind.
I would be very surprised if Vircurex decided for DGC instead.
+1. |
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The free market? We are the free market. We as in if we form a syndicate and become a collective entity then we can vote in the free market. If we do not form any legal entity and do not have any mechanism to control the market or the hashing power or anything else then what are you talking about? Are you saying Netcoin should just be released and that everyone will stand back and watch? What I predict is that on day one it's going to be hit with so much hashing power so fast that it's not going to even be like what you expect.
We are talking 2014? So if Bitcoin is $1000 and the Bitcoin ATM's are starting to spread, and Litecoins are $50, and so on, and the market caps of these coins are in the billions or hundreds of millions, you're telling me they wont already be organized? If you go with GPU then you'll have to deal with the Litecoin community which already is organized and already has businesses with GPU's and FGPA's selling shares and going to the cloud. So they can just point all their hashing power at Netcoin and take it instantly before Netcoin can form an identity of it's own. If Netcoin uses SHA256 then Bitcoin with it's venture capital backed LLC's will swoop in and take Netcoin.
I'm not against the free market, I just don't think Netcoin is going to have it as easy as Bitcoin and Litecoin because when Bitcoin and Litecoin launched the majority of people did not know what cryptocurrencies were, venture capitalists weren't involved, billionaires like Bill Gates weren't taking notice. By the time Netcoin gets involved Bitcoin will be mainstream and Litecoin will be where Bitcoin is right now. Netcoin is going to have to compete with PPcoin for third place and PPcoin is starting to get organized and build up it's community which means Netcoin is going to have to start organizing right now or you're right it could be DOA no matter what technology it comes with.
Technology alone does not increase market cap. Hype, organization, and starting businesses around the technology is what increases market cap. So the time to hype and start businesses is right when Netcoin development begins and we know what the technology is. The time to plan to build Netcoin centric cloud based hashing rigs is now, because if you don't someone else will and I really don't see how you can stop the hashing arms race now that Moore's law has kicked in. The only solution I have is to organize it into syndicates, decentralize those, and then offer shares, so that even if Netcoin does end up getting swamped by hashing power, and even if it's a hashing arms race scenario, that at least you'll always be able to buy shares no matter how much technical expertise or money you have to spend.
+1. I hold similar opinions. I've been saying for a while, people here underestimate traction, user adoption and community support. Being the best technical coin doesn't make it a winner. Look at technological product battles in history, in fact quite often the best technical product didn't win... marketing and brand, user adoption etc were more important. This is also money we are talking about... if a true bitcoin killer came out using original ideas it would take years to reach the point where it reached the level of trust as Bitcoin... Bitcoin had to stand the test of time for people to slowly learn to trust it. |
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What does 4 times as many litecoins as bitcoins in the future have to do with the price of litecoins compared to bitcoins today?
The price is a lot more complicated that a supply scaling anyway but even if it was that simple it would be based on the current levels of supply, not the figure in 5 years from now or whatever.
As for the main point of your post, traction is everything. Bitcoin has built up an enormous community of support and won over countless companies and organisations. Litecoin is where it is now over the other alt coins not because of it's technical features so much but because it has gained a lot more traction than they have. You'll see that word traction used a lot in the startup community for small fledging companies trying to grow.
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I am not a fan of alt-coins but i 'm watching this.
....well, i've been watching for awhile now, just needs to be released, lol. I think we'll be lucky if it gets released in 2013. |
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It will be good for the economy if a flood of clone coins come on the market. Makes the unique coins stand out more.
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Did you compare the market cap or did you just compare the prices? There's 3 times as many world coins as digital coins.
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Since FIAT exchange is being offered, is this guy doing it by the book and running it a Money Service Business?
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It looks like someone has just taken the Twitter logo and tweaked it a little bit.
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Any idea why DGC is being dumped on Cryptsy when WDC and GCD are both rising? DGC is technically are more valuable coin than either of those due to the lower number of DGC being produced and in circulation.
Is this some kind of price manipulation?
WDC has greater community support. Hence why the WDC hashrate is much higher. |
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