[Most profitable coin] Mining WDC is 2.9x more profitable than LTC

[Kinetic915]

Why on earth would WDC, a new and obscure coin that is a fork of a fork, replace LTC - a well established coin ?

Similar to the failed FTC and CNC, it offers nothing new.

Fast transactions times are a myth.  An LTC trade can be trusted after only 4 confirms but a WDC trade would require 40 or more.

During the "boom days" of a coin as hash rate is increasing, blocks are also processed at an unrealistically fast speed.

Once difficulty fully adjusts, the coin will become much slower and anyone who cares about their money (i.e. any merchant or exchange) will want to wait for 40 confirms

bitcointalk has been fortunate that none of the scam sellers are sophisticated enough to fake confirmations

I'm sure it could get on an exchange, but it will NEVER be a replacement for ltc.  Its most profitable now, but MinCoin and CNC was also a most profitable coin.

[Tobius]

Why on earth would WDC, a new and obscure coin that is a fork of a fork, replace LTC - a well established coin ?

Similar to the failed FTC and CNC, it offers nothing new.

Fast transactions times are a myth.  An LTC trade can be trusted after only 4 confirms but a WDC trade would require 40 or more.

During the "boom days" of a coin as hash rate is increasing, blocks are also processed at an unrealistically fast speed.

Once difficulty fully adjusts, the coin will become much slower and anyone who cares about their money (i.e. any merchant or exchange) will want to wait for 40 confirms

bitcointalk has been fortunate that none of the scam sellers are sophisticated enough to fake confirmations

Actually, the base target time is 15 seconds, so the difficulty should adjust to keep that time...and atm it's right on track...

Why do you say we'd need 40 confirms though?

[fenican]

Quoting the LiteCoin Wiki RE: confirmations needed:

"The Litecoin blockchain differs from Bitcoin in that it generates blocks every 2.5 minutes on average (four times Bitcoin's rate). This means that merchants who accept transactions only 1 block deep get that confirmation quicker. However, it should be noted that more blocks are required to achieve the same amount of confirmation strength as Bitcoin (6 blocks of litecoin are not equivalent to 6 blocks of bitcoin)"

The faster speeds of these coins only matter if the buyer is not concerned confirmation strength.

For equivalent confirmation strength, WDC FTC BTC and LTC all take the same amount of time {{ based on my understanding ; experts please chime in and tell me if I'm wrong ! }}

[iamalitecoin]

Selling 100 WDC for 2 LTC

[Praxis]

Mincoin is the most profitable according to : http://www.coinchoose.com/ -
Yes, I know WDC is not on the list, but it will probably never be ( unless someone bribes BTC-E with massive amount of coins )

[flound1129]

but the coins hit in some cases the about $2.50 before they tanked so the price will rise whether is falls after is the problem .

Not a problem for the dumpers.  I can't believe how people keep falling for this shit.

[fisheater]

WDC not in an exchange yet, so coinchoose.com did not include it

[Tobius]

Quoting the LiteCoin Wiki RE: confirmations needed:

"The Litecoin blockchain differs from Bitcoin in that it generates blocks every 2.5 minutes on average (four times Bitcoin's rate). This means that merchants who accept transactions only 1 block deep get that confirmation quicker. However, it should be noted that more blocks are required to achieve the same amount of confirmation strength as Bitcoin (6 blocks of litecoin are not equivalent to 6 blocks of bitcoin)"

The faster speeds of these coins only matter if the buyer is not concerned confirmation strength.

For equivalent confirmation strength, WDC FTC BTC and LTC all take the same amount of time {{ based on my understanding ; experts please chime in and tell me if I'm wrong ! }}

So someone's eventually going to have to change the algo. But the fact that the transaction CAN go through in less time, even if it's not confirmed is still an important bonus. I'm sure they can deal with a little less confirmation  as to not wait a whole hour for a full confirm such as with BTC

[dreamhouse]

If we actually use these in daily life, not occasionally, the the time of confirmation will be a big issue. I don't think BTC or LTC can handle that. They will become collection coins.

[Prelude]

WDC replacing LTC is out of the question, but it could turn out to be the #3 crypto. If that's the case, buying 100 for 2LTC is dirt cheap.

[dreamhouse]

Lol, I don't think WDC will replace LTC. But to use it in daily life, LTC too slow.

[computerparts]

If we want this coin to survive then we need to stop being greedy. Get the thought of profitability out of your heads. Exchanging WDC is a start but we need to also start accepting WDC as a form of payment. If we can't do this, then it will follow in the crapcoins footsteps.

[relm9]

If we want this coin to survive then we need to stop being greedy. Get the thought of profitability out of your heads. Exchanging WDC is a start but we need to also start accepting WDC as a form of payment. If we can't do this, then it will follow in the crapcoins footsteps.

A lot of sense here but probably will go ignored. That's been the problem with all recent ALTs, as soon as they hit an exchange people dump them en masse and the price typically stays down. Kills the buzz and from that point suddenly no one wants anything to do with the coin anymore and just moves on to the next thing

[Kinetic915]

If we want this coin to survive then we need to stop being greedy. Get the thought of profitability out of your heads. Exchanging WDC is a start but we need to also start accepting WDC as a form of payment. If we can't do this, then it will follow in the crapcoins footsteps.

A lot of sense here but probably will go ignored. That's been the problem with all recent ALTs, as soon as they hit an exchange people dump them en masse and the price typically stays down. Kills the buzz and from that point suddenly no one wants anything to do with the coin anymore and just moves on to the next thing

The thought of a near instant alt coin is a great idea for real business though.

[computerparts]

If we want this coin to survive then we need to stop being greedy. Get the thought of profitability out of your heads. Exchanging WDC is a start but we need to also start accepting WDC as a form of payment. If we can't do this, then it will follow in the crapcoins footsteps.

A lot of sense here but probably will go ignored. That's been the problem with all recent ALTs, as soon as they hit an exchange people dump them en masse and the price typically stays down. Kills the buzz and from that point suddenly no one wants anything to do with the coin anymore and just moves on to the next thing

Exactly and it's sad because they're just harming the entire community without even realizing it. You can only pump and dump so many coins. The smart investors can already see pump and dumps from a mile away. Eventually, more and more people are going to catch on. The pump and dumpers profits will dwindle to nothing due to more investors losing confidence. And if that happens it will be the end of alt coins or possibly even the entire crypto currencies. Ever notice how the price of btc seems to kind of follow these pump and dumps?

[baka]

Anybody noticed that these pro WDC comments are almost word for word the same comments Feathercoin had during it's pumping days?

[Kinetic915]

If we want this coin to survive then we need to stop being greedy. Get the thought of profitability out of your heads. Exchanging WDC is a start but we need to also start accepting WDC as a form of payment. If we can't do this, then it will follow in the crapcoins footsteps.

A lot of sense here but probably will go ignored. That's been the problem with all recent ALTs, as soon as they hit an exchange people dump them en masse and the price typically stays down. Kills the buzz and from that point suddenly no one wants anything to do with the coin anymore and just moves on to the next thing

Exactly and it's sad because they're just harming the entire community without even realizing it. You can only pump and dump so many coins. The smart investors can already see pump and dumps from a mile away. Eventually, more and more people are going to catch on. The pump and dumpers profits will dwindle to nothing due to more investors losing confidence. And if that happens it will be the end of alt coins or possibly even the entire crypto currencies. Ever notice how the price of btc seems to kind of follow these pump and dumps?

What do you suggest for a successful alt to move forward?

[e521]

1. innovation
2. open discussion
3. dev reputation
4. target 1+ markets
<variable time>
5. adoption

[Kinetic915]

1. innovation
2. open discussion
3. dev reputation
4. target 1+ markets
<variable time>
5. adoption

Seems like most of that is going on with new alts emerging.

[thisnewcoin]

The thought of a near instant alt coin is a great idea for real business though.

I second this comment