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elvisrene
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July 11, 2013, 05:20:45 PM |
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going to start mining at 2000kh/s see how it goes i hop it stays as profitable as it has been
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Heju22
Member
 Offline
Activity: 70
Merit: 10
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July 11, 2013, 05:39:44 PM |
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robolove
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Activity: 129
Merit: 12
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July 11, 2013, 06:50:32 PM |
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going to start mining at 2000kh/s see how it goes i hop it stays as profitable as it has been
Your rig, if I may ask? |
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Heju22
Member
Offline
Activity: 70
Merit: 10
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July 11, 2013, 07:54:00 PM |
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Infinitecoin Network Hashrate: 192.714 MH/s
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SNAZ31
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July 11, 2013, 08:30:59 PM |
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Well just started mining this coin for the hell of it but then I looked at cryptsy and saw the sell walls lmao, this coin is dead in the water unfortunately. Still was a nice little experiment. We now know that coins with huge block rewards don't work, so there is that.  |
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saamxx
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July 11, 2013, 08:46:13 PM |
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Well just started mining this coin for the hell of it but then I looked at cryptsy and saw the sell walls lmao, this coin is dead in the water unfortunately. Still was a nice little experiment. We now know that coins with huge block rewards don't work, so there is that. Dear, chinese friend) do you know about api trade? This coin trades every minute)))))) |
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SNAZ31
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July 11, 2013, 08:54:00 PM |
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Well just started mining this coin for the hell of it but then I looked at cryptsy and saw the sell walls lmao, this coin is dead in the water unfortunately. Still was a nice little experiment. We now know that coins with huge block rewards don't work, so there is that. Dear, chinese friend) do you know about api trade? This coin trades every minute)))))) Chinese? Say what??? And no I don't know about api trade.... But what I do know is this coin is dead. It would take forever to clear that backlog and so no one will invest... In a week this coin will be long forgotten... One good thing though it takes some hashpower away from the real coins! Lol. Sorry just my opinions of course. |
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coinerd
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July 11, 2013, 08:56:34 PM |
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Well just started mining this coin for the hell of it but then I looked at cryptsy and saw the sell walls lmao, this coin is dead in the water unfortunately. Still was a nice little experiment. We now know that coins with huge block rewards don't work, so there is that. what happened at cryptsy is changing hands from miners to traders. once enough traders hold it we will see if it comes to life. Right now there are more infinitecoins than anything except zimbabwe dollars (which is dead I think) and XRP (which isn't really a crypto  ) once the coins are more distributed without so many miners holding 100 to 500m things will get a little more active. Maybe not a lot though, we'll see  |
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webr3
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July 11, 2013, 09:00:13 PM |
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IFC is the extreme version of an alt coin.
It was mined to hell and back with a huge coin count.
Nobody mining the coin had/has any faith in the coin being worth anything at all. They were desperate to sell for anything they could get, even 1 satoshi had people itching to dump the coin in it's billions, and still does.
The distribution of the coin was horrible, with several people owning 1-5% of the mined economy, the same people who feel it has zero value and who would dump it for anything they could.
Then the coin went to market, it started at 90+ satoshi on cryptsy and immediately bailed down to 3,2,1 satoshi.
The market showed it's true colours, adding on to the miners itching to dump the coin, the traders were only trading to take a profit in BTC or LTC, they quickly realised that when the bid and ask are at the lowest values possible (1 satoshi and 2 satoshi), then they make 100% profit by keeping the price at that level.
Now the miners and the traders are stuck with 40 billion worthless IFC that nobody will buy.
The only way IFC, or any alt coin, will be successful, is if 75%+ of the people involved, holding, mining, and trading, actually feel the coin has a value, otherwise it's doomed.
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SNAZ31
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July 11, 2013, 09:01:31 PM |
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Well just started mining this coin for the hell of it but then I looked at cryptsy and saw the sell walls lmao, this coin is dead in the water unfortunately. Still was a nice little experiment. We now know that coins with huge block rewards don't work, so there is that. what happened at cryptsy is changing hands from miners to traders. once enough traders hold it we will see if it comes to life. Right now there are more infinitecoins than anything except zimbabwe dollars (which is dead I think) and XRP (which isn't really a crypto ) once the coins are more distributed without so many miners holding 100 to 500m things will get a little more active. Maybe not a lot though, we'll see Of course it COULD happen but it sounds like wishful thinking to me. Time will tell of course but I can't see it personally... XRP's I see slightly differently as they go hand in hand with the ripple network which is slightly interesting. |
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SNAZ31
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July 11, 2013, 09:06:07 PM |
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IFC is the extreme version of an alt coin.
It was mined to hell and back with a huge coin count.
Nobody mining the coin had/has any faith in the coin being worth anything at all. They were desperate to sell for anything they could get, even 1 satoshi had people itching to dump the coin in it's billions, and still does.
The distribution of the coin was horrible, with several people owning 1-5% of the mined economy, the same people who feel it has zero value and who would dump it for anything they could.
Then the coin went to market, it started at 90+ satoshi on cryptsy and immediately bailed down to 3,2,1 satoshi.
The market showed it's true colours, adding on to the miners itching to dump the coin, the traders were only trading to take a profit in BTC or LTC, they quickly realised that when the bid and ask are at the lowest values possible (1 satoshi and 2 satoshi), then they make 100% profit by keeping the price at that level.
Now the miners and the traders are stuck with 40 billion worthless IFC that nobody will buy.
The only way IFC, or any alt coin, will be successful, is if 75%+ of the people involved, holding, mining, and trading, actually feel the coin has a value, otherwise it's doomed.
Sounds about right... I mean if the miners had just held the coins and dribbled them out rather than dumped them instantly it could of gained some traction and the holders would of made mad profits. Anyway I'm calling it as done, still I don't really know jack so... lol |
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fisheater (OP)
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July 11, 2013, 11:24:18 PM |
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It's interesting comments... my 2c is that it's much better than XRP.
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webr3
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July 11, 2013, 11:29:37 PM |
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It's interesting comments... my 2c is that it's much better than XRP.
XRP is a utility of a network which is unique and innovative and feature full and which has millions of USD behind it. IFC is a cheap LTC fork that doesn't have much support from anybody, even the people holding, I mean even I own more than 10% of all mined IFC coins, which is sad that nobody believes in it enough to even sell at a half decent price, they throw it away at every chance. Once they're done dumping though, it may have some legs, so I'm going long. |
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coinerd
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July 11, 2013, 11:30:42 PM |
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It's interesting comments... my 2c is that it's much better than XRP.
XRP is a utility of a network which is unique and innovative and feature full and which has millions of USD behind it. IFC is a cheap LTC fork that doesn't have much support from anybody, even the people holding, I mean even I own more than 10% of all mined IFC coins, which is sad that nobody believes in it enough to even sell at a half decent price, they throw it away at every chance. you're holding over 4b IFC? |
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webr3
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July 11, 2013, 11:34:43 PM |
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It's interesting comments... my 2c is that it's much better than XRP.
XRP is a utility of a network which is unique and innovative and feature full and which has millions of USD behind it. IFC is a cheap LTC fork that doesn't have much support from anybody, even the people holding, I mean even I own more than 10% of all mined IFC coins, which is sad that nobody believes in it enough to even sell at a half decent price, they throw it away at every chance. you're holding over 4b IFC? yes, but may i stress that I don't move things on markets, I hold then move blocks of 100m to investors at price points, off market, so as not to move price. Unlike miners who just dump it for nothing |
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fisheater (OP)
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July 11, 2013, 11:37:13 PM |
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It's interesting comments... my 2c is that it's much better than XRP.
XRP is a utility of a network which is unique and innovative and feature full and which has millions of USD behind it. IFC is a cheap LTC fork that doesn't have much support from anybody, even the people holding, I mean even I own more than 10% of all mined IFC coins, which is sad that nobody believes in it enough to even sell at a half decent price, they throw it away at every chance. you're holding over 4b IFC? yes rich guy, lol |
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coinerd
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July 11, 2013, 11:51:50 PM |
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you're holding over 4b IFC?
yes, but may i stress that I don't move things on markets, I hold then move blocks of 100m to investors at price points, off market, so as not to move price. Unlike miners who just dump it for nothing As long as people know there are holders of this magnitude the currency will not be allowed to rise in price, and miners will pay for their electricity as best they can. Another few days, another halving of the block reward. It might be enough for miners to still dump at .00000001. In that time it needs to get into many hands, or people who are smart enough not to say this. When miners cannot pay bills at .00000001, or when cryptsy dumps IFC to secondary markets - we will see. If it is in too few hands, it will fail. Two more halvings, I estimate. |
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webr3
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July 12, 2013, 12:30:07 AM |
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you're holding over 4b IFC?
yes, but may i stress that I don't move things on markets, I hold then move blocks of 100m to investors at price points, off market, so as not to move price. Unlike miners who just dump it for nothing As long as people know there are holders of this magnitude the currency will not be allowed to rise in price, and miners will pay for their electricity as best they can. Another few days, another halving of the block reward. It might be enough for miners to still dump at .00000001. In that time it needs to get into many hands, or people who are smart enough not to say this. When miners cannot pay bills at .00000001, or when cryptsy dumps IFC to secondary markets - we will see. If it is in too few hands, it will fail. Two more halvings, I estimate. It was in the hands of people who'd dump it on market and for next to nothing, now it's in the hands of somebody who holds long term and manages funds for mid sized private investors around the world. Surely that's a vote of confidence. Also, read back, this is exactly what I said (about single people with large holdings) and why I took it out of the hands of dumpers. I also sponsored the work to get it added to a decent exchange, added significant liquidity in to the market at a loss, and am organizing to get it on to a more realistic LTC market whilst it moves from weak to strong hands. I've got confidence in the currency long term, but not much in the people who mine and dump, what's the point in mining a currency you feel has no value, that just devalues it. Investment and backing increases it. ps: you're welcome for the 3000% rise from 0.00000001 to 0.00000090 and back to stable at 0.00000030 (LTC) / 1 satoshi |
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webr3
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July 12, 2013, 01:25:30 AM |
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IFC/LTC market added at cryptsy
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SNAZ31
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July 12, 2013, 01:28:54 AM |
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you're holding over 4b IFC?
yes, but may i stress that I don't move things on markets, I hold then move blocks of 100m to investors at price points, off market, so as not to move price. Unlike miners who just dump it for nothing As long as people know there are holders of this magnitude the currency will not be allowed to rise in price, and miners will pay for their electricity as best they can. Another few days, another halving of the block reward. It might be enough for miners to still dump at .00000001. In that time it needs to get into many hands, or people who are smart enough not to say this. When miners cannot pay bills at .00000001, or when cryptsy dumps IFC to secondary markets - we will see. If it is in too few hands, it will fail. Two more halvings, I estimate. It was in the hands of people who'd dump it on market and for next to nothing, now it's in the hands of somebody who holds long term and manages funds for mid sized private investors around the world. Surely that's a vote of confidence. Also, read back, this is exactly what I said (about single people with large holdings) and why I took it out of the hands of dumpers. I also sponsored the work to get it added to a decent exchange, added significant liquidity in to the market at a loss, and am organizing to get it on to a more realistic LTC market whilst it moves from weak to strong hands. I've got confidence in the currency long term, but not much in the people who mine and dump, what's the point in mining a currency you feel has no value, that just devalues it. Investment and backing increases it. ps: you're welcome for the 3000% rise from 0.00000001 to 0.00000090 and back to stable at 0.00000030 (LTC) / 1 satoshi Don't take this the wrong way but it sounds like so far this coin is being propped up by you alone? My question is, why? Why are you propping up a mere clone coin? A coin that no-one but yourself has any confidence in? Do you really see the coin getting past those sell walls? There is like 200 BTC worth to get through before it can start to climb, that is a fair mountain right there. Also the buy side has completely gone now. No-one wants this coin, not even for a satoshi.  I know you think it should be pitted again LTC but I don't even think that will help it. The coin is going the way of the do-do, although your comments do intrigue me. I would like some further thoughts from you. Edit: Hmmmm, I see that it has now been delisted from coinchoose, your doing also? Edit: Just checked out the pool I was mining with and they are reporting that their hashrate is larger than the network hashrate, how can that be? lol If it can stay off coinchoose and I can be assured it will still be supported I might actually start to mine it again. |
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