If Ixcoin dies then Bitcoin is also doomed

[FunkyDuck]

Ixcoin the ancient first altcoin copy of bitcoin is nearing its death.

All coins mined out.

Hash has massively dropped as there is no reward to continue mining.

Blockchain is massively stalled

Miners are refusing to update.

This is the canary in the coal mine for Bitcoins future.

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[kiklo]

1st Problem is Cex.io quit mining , leaving the Difficulty Sky High and none of the rest of the remaining miners will match the hash rate.
2nd Problem client resets difficulty every 144 blocks , Dufus Mistake on the Programmers part.
3rd Problem Waited too Long to Fix and Investors have given up.

In the End ,
Yes this will be the Fate of all PoW coins as they are no longer Valuable enough to Justify the Mining Expenses.  

* Moral of the Story , Reset Difficulty after every Block *

The block chain is not slow because we're being attacked.  It's only temporarily slow because the hash rate has gone down.
Remember, the iXcoin client resets difficulty every 144 blocks.  
Block rate will reset to 10 minute blocks the next time difficulty resets.  
It's just taking a very long time since the hash rate dropped so much after Cex.io stopped mining.  

By my count we've mined 72 blocks since the last difficulty reset.  So we have 72 more to go.  We're half way, but at the current block rate we still have months to go.

It would certainly help to reset difficulty quicker if we could increase the hash rate again.  But if we can't, the block rate will STILL reset to 10 minute blocks on its own.

Hashrate is dropping
Miners do not cooperate
Investors stay far away
Coinomi is close to switch ixc servers off

What could Vlad possibily say? We are all speechless, since there is nothing wrong with ixc, still it's fading away.
We are even unable to remove the premine, since the update doesn't happen.

Since I do not consider ixc inferior to btc, I am even more speechless.

 

FYI:
IXC is not inferior to BTC , it just Aged Faster, Same Result for BTC in a few years.

[From Above]

IXC is actually superior at the moment since it's a fully matured version of Bitcoin. 

~CfA~

[claycoins]

They don't correlate, Ixcoins greatest strength was being merge mined with bitcoin it is also it's greatest weakness.

What I posted a couple of years ago:

 Re: Ixcoin TODO
October 24, 2014, 05:53:20 PM
   
Reply with quote Edit message Delete message  #4325
Will be interesting to see if the pools that are merge mining IXC bother to keep doing it with no reward.  There is also the risk that if one with a large amount of hash decided to stop it suddenly then you end up with very slow blocks because I think the adjustment is 2016 blocks like bitcoin.

[From Above]

They don't correlate, Ixcoins greatest strength was being merge mined with bitcoin it is also it's greatest weakness.

What I posted a couple of years ago:

 Re: Ixcoin TODO
October 24, 2014, 05:53:20 PM
   
Reply with quote Edit message Delete message  #4325
Will be interesting to see if the pools that are merge mining IXC bother to keep doing it with no reward.  There is also the risk that if one with a large amount of hash decided to stop it suddenly then you end up with very slow blocks because I think the adjustment is 2016 blocks like bitcoin.

And what is Bitcoin's greatest strength if not its security?  Take that away and the network effect means nothing.  IXcoin is Bitcoin'a twin and it does correlate.  Behold, the future of Bitcoin!

~CfA~

[HanSchultz]

They don't correlate, Ixcoins greatest strength was being merge mined with bitcoin it is also it's greatest weakness.

What I posted a couple of years ago:

 Re: Ixcoin TODO
October 24, 2014, 05:53:20 PM
   
Reply with quote Edit message Delete message  #4325
Will be interesting to see if the pools that are merge mining IXC bother to keep doing it with no reward.  There is also the risk that if one with a large amount of hash decided to stop it suddenly then you end up with very slow blocks because I think the adjustment is 2016 blocks like bitcoin.

And what is Bitcoin's greatest strength if not its security?  Take that away and the network effect means nothing.  IXcoin is Bitcoin'a twin and it does correlate.  Behold, the future of Bitcoin!

~CfA~

so you are the developer behind the coin. But i am hearing about this coin for the first time ,may be because i am a late entrant in the bitcoin and alt coin atmosphere ,what special security does bitcoin has ?

[karawantbtc]

Ixcoin the ancient first altcoin copy of bitcoin is nearing its death.

All coins mined out.

Hash has massively dropped as there is no reward to continue mining.

Blockchain is massively stalled

Miners are refusing to update.

This is the canary in the coal mine for Bitcoins future.

this doesnt have anywhere near the distribution of bitcoin. Very poor analgy

[carlfebz2]

Ixcoin the ancient first altcoin copy of bitcoin is nearing its death.

All coins mined out.

Hash has massively dropped as there is no reward to continue mining.

Blockchain is massively stalled

Miners are refusing to update.

This is the canary in the coal mine for Bitcoins future.

this doesnt have anywhere near the distribution of bitcoin. Very poor analgy

Correct, we cant really compare that Ixcoin even if its an ancient coin and theres nothing to be compared into bitcoin. Distribution in both coins are really too far away to consider. I should see it as a shit coin for me and it will surely die since all coins have been mined and miners are already refusing so it means its good as dead.

[Vlad2Vlad]

I can't watch this nonsense anymore. 

IXC has been around for over 5 years.  Merge mined most of that time by the biggest pools.  Well under 2 cents nearly the entire time on multiple exchanges. 

And most of all - people like me have been shouting from the rooftops nearly the entire time:  BUY BUY BUY!!!

Not Bitcoin nor any other coin has ever offered people such an opportunity at fair and equal distribution for all. 

Besides that incredible fact, IXC is one of the best, most fairly distributed coins EVER!!!

Bitcoin might be better distributed [for now] but Bitcoin never EVER offered the massses the equal opportunity which IXC has offered the masses to enrich themselves.  It wouldn't take much to get IXC up there with Bitcoin (and beyond) as far as distribution goes. 

You have all failed to hear the truth for half a decade:  HEAR IT NOW; iXcoin is gonna take over the world!!!

[FunkyDuck]

Ixcoin the ancient first altcoin copy of bitcoin is nearing its death.

All coins mined out.

Hash has massively dropped as there is no reward to continue mining.

Blockchain is massively stalled

Miners are refusing to update.

This is the canary in the coal mine for Bitcoins future.

this doesnt have anywhere near the distribution of bitcoin. Very poor analgy

Correct, we cant really compare that Ixcoin even if its an ancient coin and theres nothing to be compared into bitcoin. Distribution in both coins are really too far away to consider. I should see it as a shit coin for me and it will surely die since all coins have been mined and miners are already refusing so it means its good as dead.

Shit or gold is not the point. The point is a glimpse of what can and probably will happen to Bitcoin in the future once all coins mined out.

Play the tape out into the future.

What do you think will happen once Bitcoin has birthed out all coins?

[Febo]

In the End ,
Yes this will be the Fate of all PoW coins as they are no longer Valuable enough to Justify the Mining Expenses.  

Not the ones with tail emission.

[Vlad2Vlad]

Not the ones with tail emission.

Fees?  You'd need a lot of fees to justify a global PoW network. 

[jwinterm]

Not the ones with tail emission.

Fees?  You'd need a lot of fees to justify a global PoW network. 

No, never ending block reward, like doge or Monero. Monero implemented it so that dynamic block size would continue to work properly after main emission is over. Also, this thread is retarded. It's like saying if doge dies then LTC is kaput. Or UNO dies then Bitcoin also dies.

[Cryptoipad]

Change the algo to POS and problem solved..

[kiklo]

Change the algo to POS and problem solved..

Booom , And their it is ,

Why PoS will defeat PoW. 

 

[rapazev]

This is the canary in the coal mine for Bitcoins future.

only if the price doesnt follow. but i'm sure it will, it's just a matter of supply x demand.

Not the ones with tail emission.

Fees?  You'd need a lot of fees to justify a global PoW network.  

nope.
when bitcoin pow ends(the reward to be more precise) the value of one bitcoin will be WAY more than it is today.

so, even if you receive just a few satoshis for the block, it will be profitable(few satoshis converted to fiat will probably be enough to pay energy+hardware).
but i'm hoping for POS too

[Vlad2Vlad]

Change the algo to POS and problem solved..

PoS alone is not secure enough. 

[kiklo]

Change the algo to POS and problem solved..

PoS alone is not secure enough.  

Set the minimum stake age like an hour the Difficulty # will be extremely high.
Set a rolling checkpoint like blackcoin or Nxt , that refuses reorgs after a # of confirmations.
There is nothing more secure than that.  
Everything before the rolling checkpoint is sealed in stone.  

Compared to BTC weak ass security (51% attack by the Chinese Miners that have shown as high as 70% in the past year)
Considering the last 12 hours of transactions history can be rewritten at a whim, if the Chinese mining pools get pissed.

Tell me again how PoS is not secure, when PoW security has been a drive-thru at a Chinese Restaurant for over a year.
(It makes me Laugh!)  

 

[BitcoinNational]

i doubt iX could/would hardfork.

perhaps a spinoff?
i don't think a PPC-like POS/POW hybrid +MergeMined exists yet? (maybe decred but that's on Blake)

[Vlad2Vlad]

i doubt iX could/would hardfork.

perhaps a spinoff?
i don't think a PPC-like POS/POW hybrid +MergeMined exists yet? (maybe decred but that's on Blake)

We've bounced around the idea of forming our own merge-mined coin syndicate.  A few great, legit, honest coins are being left to die.  We can also move to Keccak since it's a better algo + maybe going to multi-algo.  Not sure about PoS since that would require changing the hardcap.