Terracoin - not too low ?

[celkaris]

Hi here,

i'm currently beeing quite interested in those new bitcoin alternate currencies appearing on github, and recently felt on this one : terracoin.org

This one have some pretty low internal "settings", similar to LiteCoin in some ways, but until now, i can't decide if those parameters may be good or not...

The two major "parameters" i'm talking about here are :

- 2 minutes per block

- difficulty adjustment every 30 blocks (1 hour)

While looking interesting at first, i don't really know what effect those will have on pools, and especially p2pool.
With such a small delay between two blocks, do you think p2pool can deal with this currency ?

Do you think pools may "just work" with that small 2 minutes timing ?

I guess i'll have to wait and see, dunno...

[crazy_rabbit]

Your invention perhaps? :-)

[celkaris]

You're invention perhaps? :-)

unfortunately .. no (don't have time for that atm), but i've been mining some of those like crazy finally
(it appears that this "network" is quite small now)

[Liquid]

Sound good mate : D

[Fiyasko]

All altcoins are inferior to bitcoin.
Go look at Solidcoin/Solidcoin2/Soiledcoin/Shitcoin/Microcash/MicroCrash

Thats literally how the name of the product was refferanced by forums members, The "coin" was even Properly DMCA'd off the internet, Then it was relabled Mircocash.

[crazy_rabbit]

Oh what the heck, I'm in.

[crazy_rabbit]

Oh what the heck, I'm in.

Or at least until someone 51% the whole thing. Another 5 minutes perhaps?

[Liquid]

lol

Oh what the heck, I'm in.

Same  

[crazy_rabbit]

Has it been 51%ed yet? :-)

No? I give it another 2 minutes.

Since it's just a copy of bitcoin with some tweaks, any reason why ASICS wouldn't work on it?

[xchrix]

how is it possible to mine for it?

[crazy_rabbit]

how is it possible to mine for it?

Solo mine at this point. Any Litecoin or Bitcoin solo mining tutorial will point you in the right direction. That said- it's purely for the heck of it.

[crazy_rabbit]

Oh yeah, and don't forget to virus scan that stuff. It could easily just be a way to steal your bitcoins. I mine on a machine with no wallets.

[Liquid]

Scanned with Kaspersky seems ok .....

rabbit what are you hashing @

[crazy_rabbit]

Since this is obviously just a total copy of Bitcoin, I think it would be awesome if all the scripting features of Bitcoin (that are currently disabled) would be enabled in Terracoin, just so we can play around with it. Scripting is too tricky to be worth the risk of trying it on Bitcoin or even Litecoin for that matter, so why not enable all the scripting options in Terracoin and see what people come up with? Would give it a honest reason to be experimented with other then just pumpity dumpity dump.

[server]

This coin does not exist.

 "This is a pre-release test build - use at your own risk - do not use for mining or merchant applications"

[markm]

So, who has vetted the source code to check it is not a wallet-strealing trojan?

From this section on the website "Currently, TerraCoin client does not differ from Bitcoin client excepting:" it makes no mention of having merged mining patches applied so presumably it cannot be added to one's repertoire of merged mined chains, so one would have to divert hashing from more than half a dozen existing chains at once just to mine this one chain. Hmm. Expensive to mine it...

Is it lower difficulty than GRouPcoin still or has it already skyrocketed to 272+ difficulty?

-MarkM-

[celkaris]

[...]
Is it lower difficulty than GRouPcoin still or has it already skyrocketed to 272+ difficulty?

-MarkM-

Currently @ ~ 180 kinda fluctuating i'd say...

[markm]

Yeah I see that now I made a sandbox to build and run it in.

How is its value looking? Compare for example to

http://galaxies.mygamesonline.org/ingroupcoins.html

and various other such tables linked to from

http://galaxies.mygamesonline.org/digitalisassets.html

-MarkM-

[DoomDumas]

I dont understand the interest in all those alt-coin.. IMO bitcoin have been created near perfection by "Satoshi"..  I dont see the need to another type of p2p-coin..  Therefore, BTC have proven solid, have history, and a lot of great poeples dedicating part or all their live to them, buisness are poping everywhere.. A lot of very intelligent and savy peoples work for BTC.  I dont think any alt are comparable, and they still pop and died all arround ?  Anyone know why some seems interested by those pale copy ?

[markm]

Having only one type of tradeable thing is not as good as having more than one type of tradeable thing.

A good example is one coin type that tends to go up in value and one that tends to remain relatively stable in value and one that tends to go down in value.

People looking for stable value can use the stable one, people wanting a store of value to use as collateral can use the one that tends to go up in value as collateral/reserves/savings, and people looking for loans can borrow the one that tends to go down in value (possibly using the one that tends to go up in value as collateral to secure the loan).

If only bitcoins exist, you end up having to spend bitcoins; with devcoins also existing, you can borrow devcoins using your bitcoins as collateral and spend the devcoins, thus avoiding digging into your bitcoin hoard.

-MarkM-