TheMightyX
Sr. Member
 Offline
Activity: 350
Merit: 250
Vires in Numeris
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December 14, 2013, 11:05:34 AM |
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The place is not the problem, the instamine is.
Two years into bitcoin you could still get bitcoins without having to risk capital. 6 months into quark? 96% of all quarks mined. So anyone getting in within the last 6 months has 0% risk other than their time/electricity costs. Everyone else has to pay.
If you mine bitcoins you still pay for your equipment and electricity, so you still risk capital. You'll find that mining price and buying price is closely related. The fact is, bitcoin is still very much an inflationary currency (where the definition of inflation used is "an increase in money supply"). The economic idea behind this model is to have a relative constant money supply. The yearly 0.5% inflation (i.e. increase in money supply) is to reward miners to keep the network going and to replace coins that get lost (e.g. lost wallets).
Bitcoin has a constant money supply, we know exactly when the last block will be mined and how many blocks are mined each day.
I already mentioned that they risk nothing but their time/electricity costs.
I don't have a crystal ball so I can't accurately predict the benefit of your model. The idea is for quarkcoin to find its value by way of price discovery and not be controlled by the difficulty or miners. In theory this could work, but the fact that you've given magnitudes greater of an unfair advantage to such a small group of people is astonishing. Do you really see the whole world adopting something obviously controlled by a small group of people? Our current banking and government systems work this way already. Do you see it ever being more than a speculative asset? |
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x0rcist
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December 14, 2013, 11:15:41 AM |
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majic
Newbie
Offline
Activity: 28
Merit: 0
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December 14, 2013, 11:18:38 AM |
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The place is not the problem, the instamine is.
Two years into bitcoin you could still get bitcoins without having to risk capital. 6 months into quark? 96% of all quarks mined. So anyone getting in within the last 6 months has 0% risk other than their time/electricity costs. Everyone else has to pay.
If you mine bitcoins you still pay for your equipment and electricity, so you still risk capital. You'll find that mining price and buying price is closely related. The fact is, bitcoin is still very much an inflationary currency (where the definition of inflation used is "an increase in money supply"). The economic idea behind this model is to have a relative constant money supply. The yearly 0.5% inflation (i.e. increase in money supply) is to reward miners to keep the network going and to replace coins that get lost (e.g. lost wallets).
Bitcoin has a constant money supply, we know exactly when the last block will be mined and how many blocks are mined each day.
I already mentioned that they risk nothing but their time/electricity costs.
I don't have a crystal ball so I can't accurately predict the benefit of your model. The idea is for quarkcoin to find its value by way of price discovery and not be controlled by the difficulty or miners. In theory this could work, but the fact that you've given magnitudes greater of an unfair advantage to such a small group of people is astonishing. Do you really see the whole world adopting something obviously controlled by a small group of people? Our current banking and government systems work this way already. Do you see it ever being more than a speculative asset?Secondly, although your point about a small group controlling a large part of QRK's might be true - it is also valid for nearly ALL coins in existence, including Bitcoin (a thousand people control the majority of bitcoins, if I recollect an article I read recently). By definition cryptocurrencies are all "unfair" ; thats the whole result of having a) premining b) mining with silly low difficulty in the beginning. Early adopters always have millions of coins whilst later people will struggle to get hundreds. Even if a coin does not appear to be owned by a relatively small number of people it just means that the early adopters / developers took the time and effort to spread their activity over hundreds of wallets. Not very difficult if you know how to program code. So your point : Oh no..QRK is unevenly distributed! Really? No shit sherlock! So are all coins, especially in their infancy. Now, I'm not defending Quark in itself here...rather attacking *all* cryptocurrencies. I think cryptocurrencies are by definition unfair in their design due to premining or extremely steep difficulty curves. And please...please...stop using the silly bold to emphasize your messages. If everyone starts doing that the forum will be a nightmare to read (as are your posts currently). |
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Max Guevara
Member
Offline
Activity: 106
Merit: 10
Quark developer
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December 14, 2013, 11:20:23 AM |
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The place is not the problem, the instamine is.
Two years into bitcoin you could still get bitcoins without having to risk capital. 6 months into quark? 96% of all quarks mined. So anyone getting in within the last 6 months has 0% risk other than their time/electricity costs. Everyone else has to pay.
If you mine bitcoins you still pay for your equipment and electricity, so you still risk capital. You'll find that mining price and buying price is closely related. The fact is, bitcoin is still very much an inflationary currency (where the definition of inflation used is "an increase in money supply"). The economic idea behind this model is to have a relative constant money supply. The yearly 0.5% inflation (i.e. increase in money supply) is to reward miners to keep the network going and to replace coins that get lost (e.g. lost wallets). Max, thank you for your levelheaded replies. It's easy to get carried away when so much money is at stake. Bitcoin has a constant money supply, we know exactly when the last block will be mined and how many blocks are mined each day. I already mentioned that they risk nothing but their time/electricity costs. I don't have a crystal ball so I can't accurately predict the benefit of your model. The idea is for quarkcoin to find its value by way of price discovery and not be controlled by the difficulty or miners. In theory this could work, but the fact that you've given magnitudes greater of an unfair advantage to such a small group of people is astonishing. Do you really see the whole world adopting something obviously controlled by a small group of people? Our current banking and government systems work this way already. Do you see it ever being more than a speculative asset? It is similar with all crypto-currencies that the early adopters get the most coins. When Bitcoin was released, preciously few people knew about it before the first 25 or 50% were mined. At least when Quark came out there was a huge crypto-currency community that could jump on the band-wagon. Personally I don't think the distribution is so concentrated. That's just my opinion. Just like someone bought a pizza with 10,000 BTC in the early days, a lot of early miners of Quark were more than happy to sell millions of Quarks at a low price to a collection of buyers. |
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huyha123
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December 14, 2013, 11:21:32 AM |
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I feel dizzy reading that page for 30s. who care to read the whole page? (I doubt the majority will) |
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gnode
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December 14, 2013, 11:21:47 AM |
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Why are people selling??
Quark hasn't started trading on btc38.com yet.
When it does, boom right back up and higher!
Cheap QRK, for all those whiners, get in now.
Same play as BTC, buy the dips and profit!!!
This arguing about merits of various coins is a waste of effort.
So much money is pouring into AltCoins everything will skyrocket. It all started a few weeks ago and will continue for a long time. Get in now.
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extortion
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December 14, 2013, 11:24:09 AM |
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give up my friend. they are using bots to post in this thread, they are not all real people. they have a program they use to post with multiple accounts. hence all the 30 post/30 activity posters. |
Extortion. We are Anonymous. We are legion. We do not forgive. We Do Not Forget. Expect Us.
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TheMightyX
Sr. Member
Offline
Activity: 350
Merit: 250
Vires in Numeris
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December 14, 2013, 11:30:19 AM |
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The place is not the problem, the instamine is.
Two years into bitcoin you could still get bitcoins without having to risk capital. 6 months into quark? 96% of all quarks mined. So anyone getting in within the last 6 months has 0% risk other than their time/electricity costs. Everyone else has to pay.
If you mine bitcoins you still pay for your equipment and electricity, so you still risk capital. You'll find that mining price and buying price is closely related. The fact is, bitcoin is still very much an inflationary currency (where the definition of inflation used is "an increase in money supply"). The economic idea behind this model is to have a relative constant money supply. The yearly 0.5% inflation (i.e. increase in money supply) is to reward miners to keep the network going and to replace coins that get lost (e.g. lost wallets).
Bitcoin has a constant money supply, we know exactly when the last block will be mined and how many blocks are mined each day.
I already mentioned that they risk nothing but their time/electricity costs.
I don't have a crystal ball so I can't accurately predict the benefit of your model. The idea is for quarkcoin to find its value by way of price discovery and not be controlled by the difficulty or miners. In theory this could work, but the fact that you've given magnitudes greater of an unfair advantage to such a small group of people is astonishing. Do you really see the whole world adopting something obviously controlled by a small group of people? Our current banking and government systems work this way already. Do you see it ever being more than a speculative asset?Secondly, although your point about a small group controlling a large part of QRK's might be true - it is also valid for nearly ALL coins in existence, including Bitcoin (a thousand people control the majority of bitcoins, if I recollect an article I read recently). By definition cryptocurrencies are all "unfair" ; thats the whole result of having a) premining b) mining with silly low difficulty in the beginning. Early adopters always have millions of coins whilst later people will struggle to get hundreds. Even if a coin does not appear to be owned by a relatively small number of people it just means that the early adopters / developers took the time and effort to spread their activity over hundreds of wallets. Not very difficult if you know how to program code. So your point : Oh no..QRK is unevenly distributed! Really? No shit sherlock! So are all coins, especially in their infancy. Now, I'm not defending Quark in itself here...rather attacking *all* cryptocurrencies. I think cryptocurrencies are by definition unfair in their design due to premining or extremely steep difficulty curves. And please...please...stop using the silly bold to emphasize your messages. If everyone starts doing that the forum will be a nightmare to read (as are your posts currently).
True there are a lot of bitcoin whales but many of the wallets that hold the majority of bitcoins are understandably the wallets of Mtgox, Silkroad, etc. This has already been debunked.
While it's true early adopters will always have an unfair advantage, never like that seen in quarkcoin. Not all coins are premined, instamined or poorly executed. Even if the early adopters of some coins did mine their coins over a large amount of wallets their hashing power would soon be evened out by other miners joining the scene. So a fair coin launch would see that the creators were the first miner, but it wouldn't be for long.
Within days of releasing a coin the hashrate would be several times higher than on its release.
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majic
Newbie
Offline
Activity: 28
Merit: 0
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December 14, 2013, 11:32:14 AM |
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Honestly, the day I started investing in Cryptocurrency I expected stuff like this to go on behind the scenes for every single coin. Every one of them. No exception. Just because in this case due to QRK's large market share people dig a bit harder....does not mean weird things do not go on with the majority of alt coins. Quark is interesting from a technological standpoint, but I did not buy a few hundred of it's stock because I expect it to be founded by an ethical group of people or something nonsense like that. |
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digitalindustry
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December 14, 2013, 11:45:02 AM |
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indeed, let the market decide - good times .
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- Twitter @Kolin_Quark
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x0rcist
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December 14, 2013, 11:46:11 AM |
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Honestly, the day I started investing in Cryptocurrency I expected stuff like this to go on behind the scenes for every single coin. Every one of them. No exception. Just because in this case due to QRK's large market share people dig a bit harder....does not mean weird things do not go on with the majority of alt coins. Quark is interesting from a technological standpoint, but I did not buy a few hundred of it's stock because I expect it to be founded by an ethical group of people or something nonsense like that. True,it was fun riding the QRK wave but now its time to move on. Though i still believe there are honest coins, you only have to do your research and follow your instincts. |
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majic
Newbie
Offline
Activity: 28
Merit: 0
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December 14, 2013, 11:52:32 AM |
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Just out of curiousity : You criticize Quark for being a 'manipulated' coin, where people with strong interests in it defend it. Yet it is obvious by the way you post that you are trying to get people to bail out of Quark, either because you A) want to buy it up cheap or B) own a competing coin. The difference between the people you criticize and your self is only that your interests are not honestly expressed by you. Just keep that in mind  |
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georgem
Legendary
Offline
Activity: 1484
Merit: 1007
spreadcoin.info
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December 14, 2013, 11:53:44 AM |
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Kolin Evans was never a "Quark Developer" (as he claimed to be in the Bill Still interview). That was a lie - Quark "enthusiast" would have been a more appropriate title.
Kolin is a Quark enthusiast.
I wish that Max was the mouth of Quark as well as the developer. A nice, cool, calm answer to all the points made. You didn't put anyone down, no holier than thou BS. Good work. This. But then again, quark is young... I haven't given up my hope yet. Over time, quark will attract the right people and repell the wrong ones... And if it doesn't it will simply die... it's really that simple. So, if quark is still around in two years,... i assume it will have had all its management problems solved, or else it would have simply died out. I see it as a kind of evolution. If quark survives I am sure it will be strong as hell... if anything survives all this shit talk, it will be stronger at the end. Sometimes you should listen to (or at least consider) what your enemies say... they are the only ones who might be telling you the truth, in your face.
All the sycophants and yes-mans are sure not going to tell you when there is a problem. |
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x0rcist
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December 14, 2013, 12:00:46 PM |
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Just out of curiousity : You criticize Quark for being a 'manipulated' coin, where people with strong interests in it defend it. Yet it is obvious by the way you post that you are trying to get people to bail out of Quark, either because you A) want to buy it up cheap or B) own a competing coin. The difference between the people you criticize and your self is only that your interests are not honestly expressed by you. Just keep that in mind None of above what you imply is true. I only want to save peoples ass before the real crash hits the market. Im already done with QRK, sold my share and moving on. I just feel that this has to be said to all people that still believe in quark and in the end loose a lot of their money. Coins that have scam written all over have to be exposed and brought down like how they did with murderers and rapers 500 years ago; Public Humiliation!! |
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digitalindustry
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December 14, 2013, 12:02:58 PM |
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Honestly, the day I started investing in Cryptocurrency I expected stuff like this to go on behind the scenes for every single coin. Every one of them. No exception. Just because in this case due to QRK's large market share people dig a bit harder....does not mean weird things do not go on with the majority of alt coins. Quark is interesting from a technological standpoint, but I did not buy a few hundred of it's stock because I expect it to be founded by an ethical group of people or something nonsense like that. True,it was fun riding the QRK wave but now its time to move on. Though i still believe there are honest coins, you only have to do your research and follow your instincts. cya later its been fun ~! : D |
- Twitter @Kolin_Quark
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majic
Newbie
Offline
Activity: 28
Merit: 0
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December 14, 2013, 12:03:27 PM |
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Just out of curiousity : You criticize Quark for being a 'manipulated' coin, where people with strong interests in it defend it. Yet it is obvious by the way you post that you are trying to get people to bail out of Quark, either because you A) want to buy it up cheap or B) own a competing coin. The difference between the people you criticize and your self is only that your interests are not honestly expressed by you. Just keep that in mind None of above what you imply is true. I only want to save peoples ass before the real crash hits the market. Im already done with QRK, sold my share and moving on. I just feel that this has to be said to all people that still believe in quark and in the end loose a lot of their money. Coins that have scam written all over have to be exposed and brought down like how they did with murderers and rapers 500 years ago; Public Humiliation!! I say : You have interests elsewhere in a competing coin, hence your FUD spreading you say : Im already done with QRK, sold my share and moving on My point If you want to contribute in 'exposing' things, try to do so in a mature and calm way. Talk about things, point things out sure. But no need to go OMG HAX SCAM <LINK to REDDIT> PROOF! OMG HAX!!!!! SCAM RUN SELL SELL SELL!! |
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georgem
Legendary
Offline
Activity: 1484
Merit: 1007
spreadcoin.info
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December 14, 2013, 12:03:48 PM |
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If you look around you and all you see is sheep then you should be able to realise that you are part of a herd.
Brilliantly said. It's called contrarian investing style. If you want to succeed you must do the opposite of what the masses are doing. Because the masses only start to move when they are driven into the slautherhouse, OR when they are in general panic mode (with generally comes after they recognize they are in the slautherhouse) Unfair and tragic? Yes, but that's investment world for you. What do all those sheeple expect? That they will all turn millionaires within a month? The darwinist in me tells me that they deserve to lose all their money.  But then again, this is the new cryptoworld, and we see billions of dollars leaving the fiat world, and entering the cryptoworld... so millionaires will be made alright. |
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georgem
Legendary
Offline
Activity: 1484
Merit: 1007
spreadcoin.info
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December 14, 2013, 12:06:59 PM |
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indeed, let the market decide - good times .
I have not yet seen anything with qrk that can be called a "market" . We have a tiny few overwhelmed exchanges that let you trade in and out of QRK, and its a pain in the ass. Qrk needs more exchanges, and more liquid ones... only then will a real price discovery start to form... |
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extortion
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December 14, 2013, 12:07:59 PM |
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indeed, let the market decide - good times .
I have not yet seen anything with qrk that can be called a "market" . We have a tiny few overwhelmed exchanges that let you trade in and out of QRK, and its a pain in the ass. Qrk needs more exchanges, and more liquid ones... only then will a real price discovery start to form... lol, Qrk is at the top of its Bounce, and thats word to your seed Son. |
Extortion. We are Anonymous. We are legion. We do not forgive. We Do Not Forget. Expect Us.
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