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The max coin supply is 42? That's far too many. Why not 2?
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Liked!
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I use litecoinpool.org and Reaper. Why is it that whenever I stop mining I receive an idle worker email? ScryptMiner doesn't do that so it must be this program.
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- A. The Consensus Block (CB) The CB, at its core, is simply just a merkle-root hash
There you go!  Sentence 1, and you are already using words I cannot understand. What is a merkle-root hash? Once again, you've listed and detailed the many mechanisms of your currency, but you haven't explained what each thing does. For example: you've explained that Shadow Peers help prevent DDoS attacks. That's good, now add in explanations like that for the other mechanisms. |
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All the world’s wealth has essentially been stolen, but by whom? By you, dear reader.
We’ll be very lucky if we aren’t all rounded up and summarily executed. Thankfully, you’ll be able to use some of that money to purchase protection, but I’m not at all convinced that it will be enough. A wrathful government backed by an enraged population is a fearful enemy. Satoshi foresaw this long ago, and I doubt he/she/it/they will ever voluntarily come into the light.
Nah, everyone else will just mine Bytecoin, Trytecoin, Crumbcoin, or Hexcoin or whatever name they come up with next.  Bitcoin's current value is based mostly on the fact that most people don't know how it works. Once the other iterations of bitcoins start getting attention, the value will probably even out between them. |
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We can start by not requiring a mining hardware race just to protect the network. Torrents don't need ASICs to protect their files. I realize it's all much more complicated than that, but not when you take the "money generation" part of it. Ripple could be Bitcoin's absolute replacement, as long as we can build a network of *actual* trustworthiness. Right now it'd be a bunch of random dudes on bitcointalk.org who've never met before granting frivolous amounts of trust that could never be recouped if they were scammed.
Isn't Ripple centralized? I don't think that could do what bitcoin sought to achieve by definition. |
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Just like Nagle did!
I always sign up for forums so I can tell everyone what they are doing is lame. I find it an extremely valuable use of my time. No agenda at all, I just like knowing everything and sharing that knowledge with you "little ones".
That's not what I'm saying at all. Bitcoin proved to the world that a cryptocurrency can work, I just think we can do better, and clearly the world agrees. There's a lot more people talking about bitcoin than using it. If a cryptocurrency is to gain wide adoption, it must actually be a currency, and bitcoin by its nature is not, it is a commodity. The reason bitcoin is not being adopted faster is not because very few people know about it, but because a lot of people are aware of this fact. I think that there can be a global cryptocurrency, but it's impossible for bitcoin to be it- as is. Since bitcoin can't really be changed much as released, any improvement would be a new coin, and like I said before, I think we can do better. |
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Almost every sentence if FUD.
No, but bitcon's uncertainty is real. That it has a chaotic exchange rate is fact, not something I'm making up. |
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Adoption has been sluggish even though news of bitcoin has been mainstream for the past couple of years because most people don't trust it's chaotic value. Most merchants will not use a currency they have to constantly adjust the price to (also people in general aren't going to spend something that might double in value in a month). It is not widely used in commerce because bitcoin is not really a currency, but a commodity. People hold bitcoin just to make money. It has become mostly self-serving with only a few bitcoin related services scattered around the edge. There has not been much of an increase in adoption because it's just not really that useful.
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Well, because they're using CloudFlare, I'm guessing it's a DDOS?  |
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Darn it, I thought I was going to be able to be the first to post about this because I just noticed it and I was already on the site, oh well... What does everyone think will happen due to the Colbert Bump?
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Only 40€ to buy it now? I'll take it! |
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I am trying to raise awareness about this issue, maybe you can help me.
There already is awareness of this issue... which is proven by the fact that very few people actually use bitcoin, and even still, fewer actually use it as a currency. |
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If you wait for 6 confirmations on a 10 min block chain then with equivalent hashpower you should wait 24 blocks on a 2.5 min block chain. If you are willing to accept 4 confirmations on a 2.5 minute blockchain then 1 confirmation on a 10 minute blockchain provides equivalent security.
This was debunked some time ago. Unfortunately, I don't have a link, but someone made a paper about it. Basically, the more blocks that are produced, regardless of how long it takes, the less volatility there is in the apparent hash power of the network. In short, someone with 1% of the hash power could quite easily create 1 block faster than the rest of the network, and maybe even 2 if they're lucky. 6 is much harder. So 1 confirmation is as secure as 1 confirmation, no matter how fast the block time? |
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The reason for this has more to do with the tuning parameters used for the scrypt implementation in scrypt based coins (1024:1:1).
Those particular tunings are not very high, and there is some question as to whether it was a serious attempt at a true CPU friendly/ GPU hardened coin.
Wait, so any subsequent scrypt-based coin can be released to be, say, 10x harder on GPUs? |
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