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Vigil (OP)
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June 19, 2013, 12:53:07 PM |
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Terracoin seems to have fallen off of planet Earth, the price has collapsed and the Terracointalk forums are a ghost town. Has this coin been abandoned and is there any hope for it to make a rebound? I noticed there was some talk of developers taking it over but just wanted to know if anyone on here knew anything.
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TheSwede75
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June 19, 2013, 01:56:03 PM |
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Terracoin seems to have fallen off of planet Earth, the price has collapsed and the Terracointalk forums are a ghost town. Has this coin been abandoned and is there any hope for it to make a rebound? I noticed there was some talk of developers taking it over but just wanted to know if anyone on here knew anything.
So, something that applies to almost every single altcoin.. |
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medicine
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June 19, 2013, 02:11:30 PM |
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Terracoin seems to have fallen off of planet Earth, the price has collapsed and the Terracointalk forums are a ghost town. Has this coin been abandoned and is there any hope for it to make a rebound? I noticed there was some talk of developers taking it over but just wanted to know if anyone on here knew anything.
So, something that applies to almost every single altcoin.. This is correct. There is only room for so many alt coins while cryptocurrencies enjoy a certain level of popularity. Most alt coins are just an attempt at a cash grab anyways. As the popularity of cryptocurrencies drop after the April craze near worthless alt coin values will also drop along with it. Just my opinion. Only increased demand in any one alt coin can bring the price back up. |
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Vigil (OP)
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June 19, 2013, 02:53:19 PM |
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Only curious because I have lost about half my BTC stash with TRC. Wondering whether to just take my losses or hold long term.
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solracx
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June 19, 2013, 03:19:39 PM |
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Only curious because I have lost about half my BTC stash with TRC. Wondering whether to just take my losses or hold long term.
Take your loses and buy ZenithCoin. The only coin that has good long term prospects. ;-) |
ZenithCoin - Sustainable Scrypt Based Crypto Currency
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crazy_rabbit
Legendary
 Offline
Activity: 1204
Merit: 1001
RUM AND CARROTS: A PIRATE LIFE FOR ME
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June 19, 2013, 03:21:38 PM |
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Terracoin seems to have fallen off of planet Earth, the price has collapsed and the Terracointalk forums are a ghost town. Has this coin been abandoned and is there any hope for it to make a rebound? I noticed there was some talk of developers taking it over but just wanted to know if anyone on here knew anything.
So, something that applies to almost every single altcoin.. This is correct. There is only room for so many alt coins while cryptocurrencies enjoy a certain level of popularity. Most alt coins are just an attempt at a cash grab anyways. As the popularity of cryptocurrencies drop after the April craze near worthless alt coin values will also drop along with it. Just my opinion. Only increased demand in any one alt coin can bring the price back up. No, Terracoin had real structural problems. It was not a case of simple 'lost interest' there were some real problems with the basic design. I won't say its dead- it trades, people mine it, and it can still have a bright future now that things are fixed. |
more or less retired.
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trenal
Newbie
Offline
Activity: 31
Merit: 0
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June 19, 2013, 03:23:03 PM |
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Only curious because I have lost about half my BTC stash with TRC. Wondering whether to just take my losses or hold long term.
Take your loses and buy ZenithCoin. The only coin that has good long term prospects. ;-) Haha, this is probably how he lost half his BTC stash the first time around. I wouldn't go all-in on any of the current coins, unless you are the developer and plan to premine and pump and dump like all of them. |
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solracx
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June 19, 2013, 03:31:24 PM |
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Terracoin seems to have fallen off of planet Earth, the price has collapsed and the Terracointalk forums are a ghost town. Has this coin been abandoned and is there any hope for it to make a rebound? I noticed there was some talk of developers taking it over but just wanted to know if anyone on here knew anything.
So, something that applies to almost every single altcoin.. This is correct. There is only room for so many alt coins while cryptocurrencies enjoy a certain level of popularity. Most alt coins are just an attempt at a cash grab anyways. As the popularity of cryptocurrencies drop after the April craze near worthless alt coin values will also drop along with it. Just my opinion. Only increased demand in any one alt coin can bring the price back up. No, Terracoin had real structural problems. It was not a case of simple 'lost interest' there were some real problems with the basic design. I won't say its dead- it trades, people mine it, and it can still have a bright future now that things are fixed. If the original developers cannot find any value in maintaining the current block chain, then it is good as toast. It ultimately boils down to the incentives for developers. The cain either stick with the old coin (assuming they still have a boat load of coins) or create a new coin where they can pre-mine the same amount. Who knows with all these coins out there with anonymous developers. |
ZenithCoin - Sustainable Scrypt Based Crypto Currency
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Vigil (OP)
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June 19, 2013, 03:32:15 PM |
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Only curious because I have lost about half my BTC stash with TRC. Wondering whether to just take my losses or hold long term.
Take your loses and buy ZenithCoin. The only coin that has good long term prospects. ;-) Haha, this is probably how he lost half his BTC stash the first time around. I wouldn't go all-in on any of the current coins, unless you are the developer and plan to premine and pump and dump like all of them. No, I bought "low" but over the past month all the altcoins have basically plummeted and continue to fall every week. I just missed the get out opportunity by a few fractions of a BTC ratio and it fell week after week. I never thought it would get this low. It happened before right during the BTC "crash", it got down to .001XX but then went parabolic to .006 or higher. I was trying to diversify a bit. |
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R-T-B
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June 19, 2013, 03:41:12 PM |
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Only curious because I have lost about half my BTC stash with TRC. Wondering whether to just take my losses or hold long term.
Take your loses and buy ZenithCoin. The only coin that has good long term prospects. ;-) Haha, this is probably how he lost half his BTC stash the first time around. I wouldn't go all-in on any of the current coins, unless you are the developer and plan to premine and pump and dump like all of them. I agree with nearly everything in this post, except for the idea that all premines are inevitably "pump and dump." There are legit uses for a premine, and it's even been done, but they are few and far between. |
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medicine
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June 19, 2013, 03:46:05 PM |
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I also agree that pre-mining is a simple solution for starting a new coin off right, but the sheer number of new coins started in such a short time to me indicates to me many of them being nothing but a cash grab. Not saying Terracoin necessarily falls flush into this category.
I'm no programmer either, are these "structural problems" something that can be fixed with developers time?
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Vigil (OP)
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June 19, 2013, 03:51:49 PM |
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I also agree that pre-mining is a simple solution for starting a new coin off right, but the sheer number of new coins started in such a short time to me indicates to me many of them being nothing but a cash grab. Not saying Terracoin necessarily falls flush into this category.
I'm no programmer either, are these "structural problems" something that can be fixed with developers time?
They were addressed a month or more ago. But there hasn't been any word as of late. |
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crazy_rabbit
Legendary
Offline
Activity: 1204
Merit: 1001
RUM AND CARROTS: A PIRATE LIFE FOR ME
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June 19, 2013, 03:55:47 PM |
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Pre-mining, as evil as it is, does at least give developers a financial incentive to stay active on the coin. Alt-coins run into this problem when the dev's no longer have enough financial stake in a coin they lose interest because why make someone else rich and not yourself?
That said, pre-mining is no guarantee either, as a not-so-committed dev might just dump everything all at once ala cash-grab and still not continue work on the coin.
Maybe there should be a coin where there is a premine, but by protocol the coins can't be accessed until some block point in the future- so as to keep the dev incentivised but not able to crash any emerging market by giving him all the coins at once. It's a good idea.
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more or less retired.
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TheSwede75
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June 19, 2013, 04:07:46 PM |
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Terracoin seems to have fallen off of planet Earth, the price has collapsed and the Terracointalk forums are a ghost town. Has this coin been abandoned and is there any hope for it to make a rebound? I noticed there was some talk of developers taking it over but just wanted to know if anyone on here knew anything.
So, something that applies to almost every single altcoin.. This is correct. There is only room for so many alt coins while cryptocurrencies enjoy a certain level of popularity. Most alt coins are just an attempt at a cash grab anyways. As the popularity of cryptocurrencies drop after the April craze near worthless alt coin values will also drop along with it. Just my opinion. Only increased demand in any one alt coin can bring the price back up. No, Terracoin had real structural problems. It was not a case of simple 'lost interest' there were some real problems with the basic design. I won't say its dead- it trades, people mine it, and it can still have a bright future now that things are fixed. +1 |
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TheSwede75
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June 19, 2013, 04:10:34 PM |
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Pre-mining, as evil as it is, does at least give developers a financial incentive to stay active on the coin. Alt-coins run into this problem when the dev's no longer have enough financial stake in a coin they lose interest because why make someone else rich and not yourself?
That said, pre-mining is no guarantee either, as a not-so-committed dev might just dump everything all at once ala cash-grab and still not continue work on the coin.
Maybe there should be a coin where there is a premine, but by protocol the coins can't be accessed until some block point in the future- so as to keep the dev incentivised but not able to crash any emerging market by giving him all the coins at once. It's a good idea.
I would like to expand on this and say that pre-mining USED to be an avoidable and just part of the nature of coins. A year or two ago all coins were pre-mined with no bad intent simply because they weren't worth anything and developers were often forced to mine their own coins for days and weeks before anyone really paid attention. NOW however premine or instamine is just an instant cash cow for copy-paste noobs that dumps the coins for BTC/LTC often within hours. |
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Scooby903
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June 19, 2013, 05:20:07 PM |
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Only curious because I have lost about half my BTC stash with TRC. Wondering whether to just take my losses or hold long term.
I did too...I bought in after the last Fontas "pump" as usually I can net a decent return once they bounce back up, but TRC has just dropped steadily since then :/ |
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Vigil (OP)
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June 19, 2013, 05:29:49 PM |
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Only curious because I have lost about half my BTC stash with TRC. Wondering whether to just take my losses or hold long term.
I did too...I bought in after the last Fontas "pump" as usually I can net a decent return once they bounce back up, but TRC has just dropped steadily since then :/ right, new low every week. I know that as soon as I sell out there is going to be a rocket ride to .004-.005 again. |
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mr_random
Legendary
Offline
Activity: 1274
Merit: 1001
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June 19, 2013, 05:43:20 PM |
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Not dead. If I've learnt anything about cryptos it's that it's actually surprisingly difficult for a coin to 'die' once it's gained some success. 51% attacks, forks, devs abandoning the project, no-one mining it... and still coins survive. Look at CNC, everyone knows it's crap and yet there she sits not really budging.
I would sell and buy back in when it bottoms out and hits the floor. You can't win all your trades.
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bitcoinbear
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June 19, 2013, 05:50:07 PM |
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Terracoin seems to have fallen off of planet Earth, the price has collapsed and the Terracointalk forums are a ghost town. Has this coin been abandoned and is there any hope for it to make a rebound? I noticed there was some talk of developers taking it over but just wanted to know if anyone on here knew anything.
It is a crapcoin and nobody ever used it. There was just the creator and a bunch of his alts/sockpuppets promoting this, it has been abandoned and nobody cares but you. |
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Vigil (OP)
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June 19, 2013, 07:17:25 PM |
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Not dead. If I've learnt anything about cryptos it's that it's actually surprisingly difficult for a coin to 'die' once it's gained some success. 51% attacks, forks, devs abandoning the project, no-one mining it... and still coins survive. Look at CNC, everyone knows it's crap and yet there she sits not really budging.
I would sell and buy back in when it bottoms out and hits the floor. You can't win all your trades.
You can't know when that is. |
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