[BTE] If we are going to make to the next retarget we must be zelots

[smoothie]

The problem is that anyone with ASICs can point at Bytecoin for a few days and kill the difficulty.

For Bytecoin to succeed, it needs a killer-application that creates incentive for bitcoin miners to mine BTE continually.  A proper exchange would be a good start.

I've been trying to think of a way that Bytecoin could be beneficial to Bitcoin.  Maybe there's some cool process we can do with transactions across chains.  If you think about it, bitcoin miners are stuck with bitcoin.  They can't mine altchains that don't use the same algo.  If Bytecoin can function in a way where miners see it as a way to protect their hardware investments in ASICs, it could potentially see some widespread adoption.

+1 the noobs here will find out soon enough once someone with enough money and time on their hands wants to have a little fun with BTC miners and holders of this coin.

Good luck to you suckers! 

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Got a feeling after the next retarget the super miner solving all the blocks is going to jump ship. Leaving everyone holding the high difficulty baby.

[Anon136]

The problem is that anyone with ASICs can point at Bytecoin for a few days and kill the difficulty.

For Bytecoin to succeed, it needs a killer-application that creates incentive for bitcoin miners to mine BTE continually.  A proper exchange would be a good start.

I've been trying to think of a way that Bytecoin could be beneficial to Bitcoin.  Maybe there's some cool process we can do with transactions across chains.  If you think about it, bitcoin miners are stuck with bitcoin.  They can't mine altchains that don't use the same algo.  If Bytecoin can function in a way where miners see it as a way to protect their hardware investments in ASICs, it could potentially see some widespread adoption.

+1 the noobs here will find out soon enough once someone with enough money and time on their hands wants to have a little fun with BTC miners and holders of this coin.

Good luck to you suckers! 

+1

you are right about this smoothie. If this coin doesnt become reasonably established than this could definitely happen. Like you said though, he would need to spend quite a bit of his own resources in-order to troll people, he wouldn't gain anything from it. This definitely might happen but its also pretty reasonable to expect that it wont.

If it does than ill have a pretty good idea where we went wrong with bytecoin and we can try again with keeping all of bitcoins properties the same except implementing a new more adaptive difficulty re-targeting algo.

thanks for helping to bring some people back down to earth =)

[jubalix]

The problem is that anyone with ASICs can point at Bytecoin for a few days and kill the difficulty.

For Bytecoin to succeed, it needs a killer-application that creates incentive for bitcoin miners to mine BTE continually.  A proper exchange would be a good start.

I've been trying to think of a way that Bytecoin could be beneficial to Bitcoin.  Maybe there's some cool process we can do with transactions across chains.  If you think about it, bitcoin miners are stuck with bitcoin.  They can't mine altchains that don't use the same algo.  If Bytecoin can function in a way where miners see it as a way to protect their hardware investments in ASICs, it could potentially see some widespread adoption.

+1 the noobs here will find out soon enough once someone with enough money and time on their hands wants to have a little fun with BTC miners and holders of this coin.

Good luck to you suckers! 

Just put sunny kings PPC re-target mechanism into your BTE code = fixed

+1

you are right about this smoothie. If this coin doesnt become reasonably established than this could definitely happen. Like you said though, he would need to spend quite a bit of his own resources in-order to troll people, he wouldn't gain anything from it. This definitely might happen but its also pretty reasonable to expect that it wont.

If it does than ill have a pretty good idea where we went wrong with bytecoin and we can try again with keeping all of bitcoins properties the same except implementing a new more adaptive difficulty re-targeting algo.

thanks for helping to bring some people back down to earth =)

[bitcool]

So then the question is why should you mine at a loss? The answer is that if you are holding bytecoin and we do not make it to the next retarget than your bytecoin will be worthless.

Translation: You've become a hostage of your own coins 

[Anon136]

So then the question is why should you mine at a loss? The answer is that if you are holding bytecoin and we do not make it to the next retarget than your bytecoin will be worthless.

Translation: You've become a hostage of your own coins 

haha yea i suppose thats true. Not for long though. hopefully everything will sort its self out with the next retarget.