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Author Topic: Terracoin is ALLIIIIIVEEEE  (Read 22545 times)
BaronMcG
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April 07, 2013, 01:40:29 PM
 #41

While i do support terracoin i think the issue of someone poining asics at the network and thrus forcing up the difficulty of a reletively new coin shows a major flaw in most alt-coin designs - using the same algorythm as bitcoin, imho any alt coin that wants to stand the test of time and actually be taken seriously is going to need a difference algo - take litecoin as the perfect example, different algo and it's followed the same mining evolution as bitcoin.

First CPU, now GPU - next someone will develope an FPGA and eventually it will probably go ASIC - this is how it should be. it shouldnt run the risk of being killed off in a matter of days because someone pointed a high end mining device at it.

The lesson i think that should be learned is that now ASIC's are out there, if you want a serious alt-coin then dont use the same algo as someone else.



Well the thing is, when the hash rate gets more stable, we actually WANT the ASICs out there to mine the chain. The problem right now is figuring out how to accomodate ASIC's leaving the chain without unfairly penalising the rest of us. ASIC's provide security and strength, they are really very good- we just need to figure out how to deal with them in the bootstrap phase of a coin. Once we get past this, (or once there are more asics in the world, AHEM BFL) the hash rate will be more uniform and this won't be an issue anymore and the coin will be secured.

Growing pains, to say the least.

i believe asics provide strength to bitcoin because of its large network hasrate to begin with, but with a smaller coin unfortunatly it causes a massive increase in the difficulty and causes problems -  whereby i can image a lot of the smaller hobby miners - whom provide greater security and stability to a new coin - leave.

 i see more stability in a thousand single graphics cards mining away getting a fair slice of the pie than half a dozan guys with asics taking over the whole network.

while i can see a large number of people holding high powered mining rigs on a massive network as a bonus, i cant see how it would be good for a small alt coin, i mean if someone had pointed an asic at a new coin the first day it launched then left with a masive difficulty increase remaining in there wake then the larger number of smaller guys are going to be put off by only getting 1 or 2 coins for 24 hour mining with there cards, given that said alt coin is nowhere near as valuble as bitcoin it leaves very little incentive to actually mine it.

a more decentralised coin is for me, having many many people chipping in, not a few people taking over.

if you want to prevent asics from hopping the pool and making a mess of things then change the algo and in the future should the coin stand the test of time its own brand of asics will come, trying to force the evolution of mining onto something will only ruin it for the majority of people whom you need for the coins survival.

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April 07, 2013, 01:51:44 PM
 #42

You must be joking...There are less buy orders than NVC. -_- There really is no real demand for it and it's all just speculation, and a few dudes buying a handful hoping to ride the wave. At this point it's just turning in to Gold, or some other icon of wealth that rarely gets traded.

This.

The market depth is shallow as a puddle. If a small number of people decide to get out while they can after the recent bad news the price will drop like a rock.


i bet everything is still secure, I'll send you Gold for your TRC today pm me

Not many vendors are going to accept a currency whose network dies for hours under moderate stress loads.


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April 07, 2013, 02:13:28 PM
 #43

so far only four blocks for the day???

http://www.cryptocoinexplorer.com:3750/chain/Terracoin?count=32

yesterday seems all was fine though...there were 3-4 per hours, what's happening today?
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April 07, 2013, 02:18:17 PM
 #44

We need Avalon's back on the network ASAP.  Tons of money to be made by all. LOTS of people moving coins from vircurex to btc-e and we need the network up.  Please help!!
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April 07, 2013, 02:21:38 PM
 #45

If the price is right, ASIC miners would be mining TRC permanently.  Right now, the market is undervalued for them.
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April 07, 2013, 02:22:09 PM
 #46

IMHO will dead  Grin

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April 07, 2013, 02:30:40 PM
 #47

IMHO will dead  Grin

Methinks you just want cheap TRC.  The terracoin network would continuously have 6% of the bitcoin network throughput if the price were 0.03 BTC/TRC.  Basically, the price needs to double.
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April 07, 2013, 02:43:54 PM
 #48

IMHO will dead  Grin

Methinks you just want cheap TRC.  The terracoin network would continuously have 6% of the bitcoin network throughput if the price were 0.03 BTC/TRC.  Basically, the price needs to double.

The market can't, most likely won't, support that.
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April 07, 2013, 02:56:56 PM
 #49


Methinks you just want cheap TRC.  The terracoin network would continuously have 6% of the bitcoin network throughput if the price were 0.03 BTC/TRC.  Basically, the price needs to double.

The coin infrastructure is broken and you think the price will double in light of that news.  Roll Eyes


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April 07, 2013, 03:43:54 PM
 #50


Methinks you just want cheap TRC.  The terracoin network would continuously have 6% of the bitcoin network throughput if the price were 0.03 BTC/TRC.  Basically, the price needs to double.

The coin infrastructure is broken and you think the price will double in light of that news.  Roll Eyes

Indeed, LOL! You people seem to be unaware of the major issue right now, and that is how easy is to ruin Terracoin completely.
Vircurex reports Terracoin network hashing at around 46 GHashes. 1 Avalon ASIC with 3 modules hashes at around 65 GHashes,
which is more than enough to kill Terracoin. Of course, from the point of making money it would not make sense to do it, but my
point is that Terracoin is more vulnerable than ever before. To asume no one will kill it because it would not be in in his or her
interest - read: no profit - is major logic flaw. Would all other altcoins profit from Terracoin going down? Of course! So, right now
it takes just one person with Avalon who heavily invested in PPC, LTC or some other coins other than TRC to decide to get rid off
"annoyance" and thus turn at least some of those who were dealing with TRC to coins he or she owns in thousands or millions.

If I'm one of those people, Terracoin would be dead already. That which sux must be destroyed so there is more room for that
which sux less.

Most here are thinking so narrow and shallow it is really disturbing. Try to think what image cryptocoins project on those who
just recently discovered them. Since Terracoin just slightly differs from Bitcoin, problems with it and other altcoins will inevitably
affect opinions about Bitcoin. Making some profit of altcoins while at the same time killing Bitcoin is sure way to ruin everything.

As a point, even BTC blocks are taking longer then usual to confirm. Maybe someone out there as an ASIC network that isn't running very smoothly?

EDIT: Don't be so dramatic. No one has their grandmother hooked up to a TRC life support machine. Things break, we fix them, life goes on. This is an experiment. If you wanted total security you should tuck your BTC in FIAT. Because we know how awesome that is 100% of the time.

Second EDIT: It's not even broken. Its just god-awful slow. Update your client to help fix this.

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April 07, 2013, 03:52:11 PM
 #51

Rabbit, actually I have updated and it still will not sync


edit: things are moving again

Currency   Code   Block   Time   Started   Age (days)   Coins Created   Avg Coin Age   % CoinDD
Terracoin   TRC   101609   2013-04-07 15:52:19   2012-10-26   163.28   2032230   33.1314   59.6073%
mr_random
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April 07, 2013, 03:55:49 PM
 #52

EDIT: Don't be so dramatic. No one has their grandmother hooked up to a TRC life support machine. Things break, we fix them, life goes on. This is an experiment.

It's kind of important a currency system doesn't break.  What if this gets patched and then it rears it's ugly head again later down the line when the network is even bigger. I ask this because we're now on the third mandatory patch to do with difficulty adjustments in the last month.

In it's present form TRC simply isn't suitable for use by vendors.

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April 07, 2013, 04:02:28 PM
 #53

EDIT: Don't be so dramatic. No one has their grandmother hooked up to a TRC life support machine. Things break, we fix them, life goes on. This is an experiment.

It's kind of important a currency system doesn't break.  What if this gets patched and then it rears it's ugly head again later down the line when the network is even bigger. I ask this because we're now on the third mandatory patch to do with difficulty adjustments in the last month.

In it's present form TRC simply isn't suitable for use by vendors.

Well I agree with you about the use by vendors. But there are hardly any vendors using any alt coins. I do feel for sRoulette though- as this seriously impacts their business model.

At the moment what we can do is keep building. Speculators will Speculate, we all know that. There is a profit to be made by anyone in speculation (as well as loss). Indeed the speculation is important part of the economic growth- it leads to a wider distribution of coins. Originaly miners and hoarders sell their coins for a handsome profit and it goes into possesion of a larger number of users. Those users then are invested with a sense of ownership and some portion of them will work to make the coins they bought (over priced) to be as valuable if not more then when they bought them. So they build services, which further widens the market. Then the price eventually returns and surpasses the value at which hoarders sold. But now the coins are in many more hands then at the start. So it's a natural process.

Along the way will we fix this diff issue. It could happen to any of the SHA-256 coins- Freicoin was at a virtual standstill for two months waiting for their diff to come down.

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April 07, 2013, 04:05:02 PM
 #54

Don't be so dramatic. No one has their grandmother hooked up to a TRC life support machine. Things break, we fix them, life goes on. This is an experiment.

It is? Drop me a few thousands TRC to address bellow, I wanna experiment with exchages a little, or something else.

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A few thousand huh? Don't be modest.

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April 07, 2013, 04:34:44 PM
 #55

You guys do realize that TRC is only up at the moment because fontas is pumping the price, right? Roll Eyes
Once he decides to hop to another coin, he'll dump all his TRC, and price will never recover. Roll Eyes

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April 07, 2013, 05:32:41 PM
 #56

If you don't have Terracoins then it is dying.

If you do have Terracoins then it is not dying until you dump them  Grin

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April 07, 2013, 06:27:19 PM
 #57

You guys do realize that TRC is only up at the moment because fontas is pumping the price, right? Roll Eyes
Once he decides to hop to another coin, he'll dump all his TRC, and price will never recover. Roll Eyes


who the heck is fontas?!?!?!?!?

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April 07, 2013, 06:30:35 PM
 #58

You guys do realize that TRC is only up at the moment because fontas is pumping the price, right? Roll Eyes
Once he decides to hop to another coin, he'll dump all his TRC, and price will never recover. Roll Eyes


who the heck is fontas?!?!?!?!?

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April 07, 2013, 06:40:47 PM
 #59

I ended up selling it, the price is pretty high now and with the instability I don't see how it will last. I will just keep BTC right now and maybe consider getting back into TRC once all these problems go away.
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April 07, 2013, 06:46:44 PM
 #60

with current net hashrate, it will take quite some time to get to next big diff adjustment & get a usable coin back (18 blocks remaining?)  Sad
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