42Coin thoughts. Its ACTUALLY getting interesting.

[duuuuude]

NO disrespect, but i will make this easy for you,

 HENDO owns 42coin and the github and the code,

no amount of group voting, or want will change that fact, i am sorry for the bags you hold.

just use the energy you have on a new coin, one without so much negativity and scamming around it.

J

[x.madisco]

just use the energy you have on a new coin, one without so much negativity and scamming around it.

Agreed.  It's pretty hard to come back from a coin with a history of a scam.

[BitcoinNational]

@duuuuude

agree.
why i sit on the sidelines.  he can screw up the process of a revival but he can't force a fork.  and I doubt he holds much coin.  

but there seems to be a collective 'community' that wishes for 42 to remain existent.

there's no other explanation for such a trainwreck of a scrypt POW coin holding on to strong trade and network performance despite having absolutely zero development (18 months abandoned) and not even a website.

so the current version of 42 will just keep clunking along until

1. Hendo comes to the table and demonstrates good faith
2. Else arrangements can be made by community to fork on their own

cool part is nothing could happen and 42 is still a viable coin

new thread https://bitcointalk.org/index.php?topic=1220610
cuz Hendo locked the orginal thread ... distancing himself from his crime

[CoinHawk]

just use the energy you have on a new coin, one without so much negativity and scamming around it.

Agreed.  It's pretty hard to come back from a coin with a history of a scam.

I disagree. With the magnitude of the epic fail that happened with this coin....everyone loves a great comeback story.

[CoinHawk]

I agree. I think if Hendo has any coins he would be trying to make the value appreciate. He has never done anything. I mean. How much could he have? there is only 50 some coins right now. Thats only 100 ish bitcoins. Childs play when you really think about it. I think he has very few if any. Thats why Im saying for him to get out of the way. Ask for offers and take a buyout and walk away.

@duuude. Nothing to be sorry about. My whole premise of this article was on a relative basis 42 coin is undervalued..whether anything positive happens to it or not. It's just math. And I felt like sharing it

[junglist.massive]

When 42 was added to craptsy people pumped it to 1800BTC in few hours

[CoinHawk]

When 42 was added to craptsy people pumped it to 1800BTC in few hours

I know. ridiculous. It will never be anything close to that again. That was a lot of people getting into something they didnt understand. I do feel like 15-30btc could easily be in the realm of possibility if the right things fall into place.

[SockPuppetAccount]

Kid, please stop this foolishness.  The absolute number of any coin, be it BTC or 42 or anything else, is utterly irrelevant.  It is nothing but a necessary numeric abstraction that functions as a unit of account for the public ledger.  Any coin could be forked at any time for the purpose of sliding the decimal place to the right or left as many spaces as we like, and no value would be added or lost.

A particular blockchain derives it's value from adoption and functionality.  Community also plays a role, but only in the alt world.  42 coin has no adoption and no more functionality than any other random shit coin.  It doesn't appear to have much of a community.  In fact, I'd say it's marketcap of 115 BTC is looking a bit bloated right now.

View your holdings of a particular coin not in absolutes, but as a percentage of your ownership of that chain.  At the end of the day, your argument boils down to nothing but "it's gotta be worth a lot cuz there aren't a lot of them!".  Nonsense.

[barrysty1e]

I love the amount of 'insight' in this set of posts, the basic fact is - if 42 only had 42 coins total, people would dump it all to BTC and stop mining it. Community? Get real.. New coin arrives, people mine/buy and sell, rinse and repeat - don't keep spewing fiction.

It wasn't a miscalculation of total coin-base - the dev just didn't have any conditions set for when supply exceeded 42.

Lets look at https://github.com/fourtytwo42/42/blob/master/src/main.cpp:
862:    if(nHeight == 4242424)
863:    {
864:       nSubsidy = 0.00042 * COIN;
865:   }
866:    if(nHeight >= 990382) 
867:    { 
868:       nSubsidy = 0.00;
869:   }
870:    return nSubsidy + nFees

Lines 866-869 were only added 5 months ago; so mining would only receive the fees (tiny) hence making it worthless. Cryptsy has decided to ignore the new code (because they do what they like basically) - so 42 will most likely go on forever.

Least the dev has a sense of humour:
846: if(nHeight == 420) // yay its 420 Time for a smoke
847:    {
848:      nSubsidy = 0.00042 * COIN;
849:   }

Basically, put this behind you - keep trading all your scrypt to BTC like everyone else, and dont read into the hype.

[sirslayer]

if you guys are paying attention, Cryptsy issues with withdraws would cause me not to sell my mined coins and now trying to find an exchanged is almost pointless..  if there is no why to trade them to btc or any coin or fiat .. i would think now that they are worthless