Bitcoin Forum
December 17, 2017, 08:30:27 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: YAC duplicates in value after Elacoin fail  (Read 1486 times)
ymer
Sr. Member
****
Offline Offline

Activity: 280


View Profile
May 14, 2013, 06:52:01 AM
 #1

Watch it bros.

1513499427
Hero Member
*
Offline Offline

Posts: 1513499427

View Profile Personal Message (Offline)

Ignore
1513499427
Reply with quote  #2

1513499427
Report to moderator
1513499427
Hero Member
*
Offline Offline

Posts: 1513499427

View Profile Personal Message (Offline)

Ignore
1513499427
Reply with quote  #2

1513499427
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513499427
Hero Member
*
Offline Offline

Posts: 1513499427

View Profile Personal Message (Offline)

Ignore
1513499427
Reply with quote  #2

1513499427
Report to moderator
1513499427
Hero Member
*
Offline Offline

Posts: 1513499427

View Profile Personal Message (Offline)

Ignore
1513499427
Reply with quote  #2

1513499427
Report to moderator
1513499427
Hero Member
*
Offline Offline

Posts: 1513499427

View Profile Personal Message (Offline)

Ignore
1513499427
Reply with quote  #2

1513499427
Report to moderator
TheSwede75
Full Member
***
Offline Offline

Activity: 224



View Profile
May 14, 2013, 06:55:23 AM
 #2

Yeah, sure. YAK being as big of a fail but with more idiot supporters. Sure, it will be worth something one day  Roll Eyes
nfuse
Member
**
Offline Offline

Activity: 97


View Profile
May 14, 2013, 06:58:33 AM
 #3

yeah about 0.00000001 bitcoin good luck with Elaflushcoin!
andruby
Jr. Member
*
Offline Offline

Activity: 31


View Profile
May 14, 2013, 02:08:08 PM
 #4

Yes YAC will totally dupelicate in value..
phorensic
Hero Member
*****
Offline Offline

Activity: 630



View Profile
May 14, 2013, 02:11:26 PM
 #5

I love it when my virtual currencies duplicate in value.
megablue
Member
**
Offline Offline

Activity: 112


View Profile WWW
May 14, 2013, 02:12:55 PM
 #6

what talk you?  Grin

LTC: LQx367oQtbwsc7Ygf9S1B6E1d9LuGk7v11
bitdwarf
Sr. Member
****
Offline Offline

Activity: 406


The cryptocoin watcher


View Profile
May 14, 2013, 02:24:52 PM
 #7

Well, with all the new alts dying these last days and the red everywhere, even in LTC, anyone wanting some excitement is running out of places to put some BTC in.

𝖄𝖆𝖈: YF3feU4PNLHrjwa1zV63BcCdWVk5z6DAh5 · 𝕭𝖙𝖈: 12F78M4oaNmyGE5C25ZixarG2Nk6UBEqme
Ɏ: "the altcoin for the everyman, where the sweat on one's brow can be used to cool one's overheating CPU" -- theprofileth
spoid
Hero Member
*****
Offline Offline

Activity: 504


bearded, drunk, fat, naked


View Profile
May 14, 2013, 02:47:44 PM
 #8

well the most possible future news for YACoin would be "Yacoin now minable via GPU", which would crash the price I guess.

with great beard comes great liver. Reputation Thread: https://bitcointalk.org/index.php?topic=195803.0
bitbitcoincoin
Full Member
***
Offline Offline

Activity: 126



View Profile
May 14, 2013, 04:13:26 PM
 #9

well the most possible future news for YACoin would be "Yacoin now minable via GPU", which would crash the price I guess.

Why it would crash the price? Are you aware block reward is already just 17 YAC? Even if people add so much hashpower to speedup block generation to just few seconds as it
was at the launch, they would be making much less YAC overally than early adopters were making. Since price for 1000 YAC was mostly around 15 LTC and still is, I don't see how
those mining with GPU could destroy it. Those who would start mining on GPU early would increase difficulty and that would make those mining on CPU drop out from mining cause
it would not be profitable anymore to mine with CPU. The same deal as with Bitcoin, where ASIC is slowly replacing GPU. Do you see BTC price crashing because of it? I don't. So
why would GPU crash YAC price when it is not happening with BTC, which uses fixed block reward vs decreasing block reward YAC is using?

YAC's only selling point is it's CPU only, if a GPU cracks it then it's name becomes apt.  It'll be yet another coin, with no unique qualities and slowly dies like FTC, CNC, and many many others.

BTC on the otherhand was not competing with 20+ different coins when it switched from CPU to GPU, and it already has a very well established user base outside the mining community when switching from GPU to ASIC.  It's a completely different scenario.
trace666
Member
**
Offline Offline

Activity: 92



View Profile
May 14, 2013, 04:21:48 PM
 #10

It'll be yet another coin,
Now that part is true  Cheesy
whitedragon
Member
**
Offline Offline

Activity: 84



View Profile
May 14, 2013, 04:29:26 PM
 #11

well the most possible future news for YACoin would be "Yacoin now minable via GPU", which would crash the price I guess.

Why it would crash the price? Are you aware block reward is already just 17 YAC? Even if people add so much hashpower to speedup block generation to just few seconds as it
was at the launch, they would be making much less YAC overally than early adopters were making. Since price for 1000 YAC was mostly around 15 LTC and still is, I don't see how
those mining with GPU could destroy it. Those who would start mining on GPU early would increase difficulty and that would make those mining on CPU drop out from mining cause
it would not be profitable anymore to mine with CPU. The same deal as with Bitcoin, where ASIC is slowly replacing GPU. Do you see BTC price crashing because of it? I don't. So
why would GPU crash YAC price when it is not happening with BTC, which uses fixed block reward vs decreasing block reward YAC is using?

YAC's only selling point is it's CPU only, if a GPU cracks it then it's name becomes apt.  It'll be yet another coin, with no unique qualities and slowly dies like FTC, CNC, and many many others.

BTC on the otherhand was not competing with 20+ different coins when it switched from CPU to GPU, and it already has a very well established user base outside the mining community when switching from GPU to ASIC.  It's a completely different scenario.

I don't claim to understand everything going on under the hood of cryptocoins....but why is "CPU-only mining" considered a selling point?  The yacoin website says:

"GPU and ASIC resistance provides short-term incentive for adoption, disseminates the currency to a wide body of users and protects the network in the long-term. It enables all peers to participate equally in the network, regardless of their financial backing. This helps protect YaCoin from abandonment when large-scale players, with institutional investment come in with expensive hardware, such as ASICs and GPU farms."

This claim is completely bogus.  Has nobody heard of CPU farms?  I bet CPU farms have been around longer than GPU farms.  I had a mini CPU farm set up at home with 4 machines to render 3d graphics ten years ago....so I'm PRETTY sure there must be some "large-scale players, with institutional investment" out there with a boatload of CPU power...not to mention the Amazon rentals that others have posted on the forums.  So it seems to me you can easily get massive hashrates...if you have the $$.
Tomatocage
Legendary
*
Offline Offline

Activity: 1526

brb keeping up with the Kardashians


View Profile
May 14, 2013, 04:37:54 PM
 #12

"Uh! Duplicate, Uh! Uh!" -- Sir Mixalot

THIS SPOT FOR RENT* | GPG ID: 4880D85C | 1% Escrow | 8% IPO/ICO Escrow services Temporarily Closed | Bitcointalk is the ONLY place where I use this name (No Skype/IRC/YIM/AIM/etc) | 13CsmTqGNwvFXb7tD9yFvJcEYCDTB8wQTS | Beware of these SCAM sites! | *Sponsored Link
WindMaster
Sr. Member
****
Offline Offline

Activity: 347


View Profile
May 14, 2013, 06:38:23 PM
 #13

"GPU and ASIC resistance provides short-term incentive for adoption, disseminates the currency to a wide body of users and protects the network in the long-term. It enables all peers to participate equally in the network, regardless of their financial backing. This helps protect YaCoin from abandonment when large-scale players, with institutional investment come in with expensive hardware, such as ASICs and GPU farms."

This claim is completely bogus.  Has nobody heard of CPU farms?  I bet CPU farms have been around longer than GPU farms.  I had a mini CPU farm set up at home with 4 machines to render 3d graphics ten years ago....so I'm PRETTY sure there must be some "large-scale players, with institutional investment" out there with a boatload of CPU power...not to mention the Amazon rentals that others have posted on the forums.  So it seems to me you can easily get massive hashrates...if you have the $$.





whitedragon
Member
**
Offline Offline

Activity: 84



View Profile
May 15, 2013, 08:09:25 AM
 #14

Thank you Windmaster, that says it all!   Shocked
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!