[ANN] [QRK] Quark | Core 0.10 upgrade

[dE_logics]

People are concerned. Since mining is dieing, they think the Quark network will be susceptible.

@digitalindustry

The blog should broadcast nothing such will happen. Emphasize on 0.5% inflation.

I'll write an article about how quarks are better than Bitcoins, and as of the current time better than any other alt.

Quark current marketcap is 16,379,903 , a 0.5% inflation means  81899$/year.
Bitcoin transactions fees , 10-20k usd /day.

Be careful how you write your article so it doesn't come back like a boomerang.

There's no boomerang. Quarks do not rule out the concept of transaction fee.

Besides you're comparing a crypto which's a few months old to a crypto which's there for half a decade.

The current market cap is low, so the difficulty will also be low. The difficulty has dropped to 3.8K. The existing miners are making more money.

[dE_logics]

So , right now , with a blocked reward of 8 coins we have 46080 quakrs mined /day , right?
At a price of 0.087$ this makes the reward 4000$ /day.

Now , if the block reward drops to 1 , miners will only get 500$/day.  And 15 000$/month.
Compared to electricity costs this makes the network look very insecure for the moment.

Who pays for electricity? Certainly not the botnets and hasher farms!

Well , having your network "secured" by a botnet , isn't the usual approach in cryptos , isn't it?

First, the network doesn't "secure" anything in crypto. The network makes transactions viable. Second many coins are mined by botnets, server farms, hasher farms, etc  take a look at litecoin. A network is a network no matter how it is assembled.

A network in which a botnet or a farm or a person has more than 51% is an insecure network , for any pow coin.
And when normal miners  leave mining , and only botnets with their 0 cost are mining , they can play with that coin and it's blockchain like lego pieces.

Wrong

So , right now , with a blocked reward of 8 coins we have 46080 quakrs mined /day , right?
At a price of 0.087$ this makes the reward 4000$ /day.

Now , if the block reward drops to 1 , miners will only get 500$/day.  And 15 000$/month.
Compared to electricity costs this makes the network look very insecure for the moment.

Who pays for electricity? Certainly not the botnets and hasher farms!

Well , having your network "secured" by a botnet , isn't the usual approach in cryptos , isn't it?

Yeah. But they wont do a 51%, cause it's hard in the 1st place. Apart from hashing power, coordination is also required for it.

CPU mining has 1 disadvantage however -- there's a lot of CPU power (not GPU power or control over special purpose hardware) in the hands of Botnets; under control of a cracker, he may have 51% hashing power for a small amount of time. However this requires great amount of coordination among the huge no. of botnets, this requires downloading the whole block chain which is hard for a block; then people are moving away from their virus-infested Microsoft Windows Desktop/Laptops to Android tablets and phones. So feasibility of such an attack is questionable.

Then Quark has quick block time. That makes it yet harder, cause the bots require some time to getwork and then send the work.

Currently, the bots do it in a pool. Which's actually not bad.

[skillrun]

They are trying to push it down, look at the 150BTC buy order at 15

shhhh noobs don't know about this, i want my cheap QRKS ....i sold too cheap before and want most of them back. 

Let the market forces do their thing. Just buy in chunks as it works down.

The dev really needs to consider adding some POS now for a lot of reasons. I want some interest on my QRK also...

can´t imagen they can push it down that far

[coinerer]

This decrease in price is nothing but market manipulation. Look at all the sell orders around 9000. Those showed up last night in order to push the price down so somebody can buy cheap Quark. The scheme worked, price is down and people are selling it cheap. Sad.

Probably some big fund pushing the price down to increase their stake.

If that fund go close to price 1500 then I will rearrange my portfolio and buy some btcs in front of them. I hope fund will manipulate with its own qrks and I hope it will lose some of qrks at the bottom.

[ATXsilver]

Q: I ask myself, have the prospects of this coin changed? Has my investment thesis changed?

A: No. I believe that this coin has a legitimate chance to be an important 'Top 10' Crypto-currency of the future, and will realize $1.00 per coin prices eventually. Just because the price is down 30% today, does not mean the inherent 'value' of these coins, is also down 30%. It just means there are More sellers than buyers today.

The best time to buy, according to the 'Oracle of Omaha' is when there is blood in the streets. QRK is hemorrhaging right now, laying in the streets being trampled as a pump n dump, pre-mined, 'nother alt-coin someone cashed in on real quick, etc.

I am BUYING Today. I will take the shares from the feeble, the panicked and the weary, and I will consolidate them. I will wait until Mr. Market shows up at my door and offers me what I consider to be a 'full & fair value', and then, and only then, will I release some of my shares. The market is often irrational in the short term, it is NEVER irrational in the long-term, as more information about the future of crypto-currency and QRK's security features are widely spread, the price will reflect that.

The Bill Still, Keiser, Pump Job, etc. - My take on this is: Any Publicity is Good publicity. Sure they were probably paid off, but those guys wouldn't (IMO) just recklessly pump any ALT someone offers them a bundle of. They probably have at least somewhat of a belief in the prospects of this coin. I am sure other ALT pump n dumpers offered similar deals. They chose Quark. This is bullish. We need more like them. (KOLIN please keep working on this, don't listen to others, we need people to KNOW WHAT QRK IS AND REPRESENTS)

RE: Kolin. From the post I have read, I have no problems with him. He could use a bit thicker of skin, and not take ad hominem attacks as personally. Don't let others reflect their own insecurities on you. Stay strong, use logic, reason, and be diplomatic. You indeed are a VERY important ambassador for QRK at the moment, and you need to act like it. I love what you are doing, but just imagine yourself as a 'professional' regarding QRK, and conduct yourself as such, whether or not they are being ill-tempered haters. You need to view them as POTENTIAL INVESTORS, and treat them as such. With the right tactics, enemies can become friends, and we can all sing kumbayah together when QRK reaches $1.00 per coin. Keep it up tho, this coin has a future, and a few others do as well.

Just my opinions, take them for what you will. Wanted to get a post out there, as QRK right now is my largest position and I still am buying more.

As an aside - Has anyone else here done much research on EarthCoin (EAC) - I am truly impressed by the way that crew has conducted themselves, and the professionalism they are bring along with this coin. That is the reason EAC is my 2nd biggest position. It seems like the folk there are in it for the LONG-TERM, and care not for short-term fluctuations, listing on cryptsy, all that nonsense. Can someone talk me out of my investment thesis for EarthCoin - I wan't to hear negative opinions to balance out my bullish one. A large part of why I love EAC is also the name EarthCoin - The Coin of the People - Has a great equalizing, warm n fuzzy, and peaceful brotherly love aspect that I find charming.

If enough people believe, and money floods from FIAT to Crypto, the world will be a better place, and we are at the fore-front of the revolution. We are the ones who will be written about in the history books. No more middle men taxing and taking fees, making us wait 2-3 days while they pocket interest.

Stay strong my brothers in arms, we are few now, but we will be the beacons of light to show the path to our lost brothers, and we will guide them into the glorious world that is Crypt-currency.

[toknormal]

I am BUYING Today

Yeap. I also bought (on the Litecoin market).

Decided they were cheap - although they may still continue to go down. Doesn't matter, if a 50% discount to the previous week isn't a good time to buy, when is ?

Quarks are probably one of the best potential "mass adoption" coins around. Fast, secure and plentiful, so I agree - there's nothing wrong with the coin so either they're dirt cheap now or they're never coming back. Take your pick.

[saxman717]

I am BUYING Today

Yeap. I also bought (on the Litecoin market).

Decided they were cheap - although they may still continue to go down. Doesn't matter, if a 50% discount to the previous week isn't a good time to buy, when is ?

Quarks are probably one of the best potential "mass adoption" coins around. Fast, secure and plentiful, so I agree - there's nothing wrong with the coin so either they're dirt cheap now or they're never coming back. Take your pick.

Spot on --- that's why I reloaded on BTC and increased my stake by ~20K QRK today, albeit at 0.00008.......if it goes much lower, I will reload again and cost-average down.

[toknormal]

The thing that cryptos need now is some real world use.

Their speculative value has probably reached saturation point. None of the coins are in use, just sitting in wallets being traded for other coins which are also not in use.

How they will actually be used in real world trading remains to be seen. My own opinion is that transaction speed is irrelevant because blockchain transactions will never be used at the point of sale. Payment processors like Mastercard and Visa will handle all that - cryptos will just be another way to "charge your account". (Witness todays cryptocurrency exchanges - trades are more or less instant, regardless of a particular coin's blockchain transaction time).

So the dam will have burst for me if one of those payment processors (even Paypal) lets you charge your account with cryptos. Until then the crypto economy is mainly hypothetical and speculative I think.

[greentea]

overstock.com apparently will add bitcoin for payment, I think amazon will soon follow.

Once that happens, more online retailers will begin accepting bitcoin ... hopefully this will lead to allowing for other coin payments as well.

Speaking of payments, what ever happened to quarkpayments.com

[Its About Sharing]

The thing that cryptos need now is some real world use.

Their speculative value has probably reached saturation point. None of the coins are in use, just sitting in wallets being traded for other coins which are also not in use.

How they will actually be used in real world trading remains to be seen. My own opinion is that transaction speed is irrelevant because blockchain transactions will never be used at the point of sale. Payment processors like Mastercard and Visa will handle all that - cryptos will just be another way to "charge your account". (Witness todays cryptocurrency exchanges - trades are more or less instant, regardless of a particular coin's blockchain transaction time).

So the dam will have burst for me if one of those payment processors (even Paypal) lets you charge your account with cryptos. Until then the crypto economy is mainly hypothetical and speculative I think.

Regarding saturation point, are you sure about that? Judging by more and more people learning about Cryptos but many being VERY hesitant to buy something at 1000, or 500 or 200 for that matter, the move into smaller cap Cryptos is JUST starting. Bookmark this and check back in at the end of the year and let's talk. And no problem if I'm wrong, but this is as clear as day - Money is moving into these Cryptos, and barring them being made illegal or the like, this is just starting. People want a choice. They will want to buy 100 or 10 or 1 of something to get involved. Many people are so frightened by the cost of a BTC (and it is my largest holding, I'm totally for it, clearly, but for many people it is not a choice.) And yes, we understand you can buy .1 BTC or point whatever, but a lot of people don't know the math, are a bit simple minded (which is fine), etc. and they are gonna look for something with more value (to their psych).

I think BTC will always have 75% or more of the market (even 90% I could see at some point) and then you will have a 2nd place coin with 10%-20% and then a few will share 3%-5% or so and then the "relative" bottom dwellers. LTC looks like the clear #2 so far but that can change depending on the next few months to a year or so imo. Now, who is gonna be #3-#5 or so in a few months to a year? PPC, NMC, QRK, etc. We don't really know but QRK does have the potential to be there. It isn't just about being the best of course, VHS over BETA showed us that and many more examples. But Quark can do it, we'll see how the experiment unfolds.

[toknormal]

Regarding saturation point, are you sure about that?

No 

It's just that when bitcoin goes up, I feel like it's going ballistic and the whole world economy is about to change **tomorrow** and when it's going down (as it did today) my rose-tinted specs come off and dark misty ones come straight on which make me think, of course, its actually going to zero

Brother JohnF ("good evening everyone, time for another bitcoin report, this is the 4 hour mt gox...") thinks we might be about to repeat the early December pattern which would project a $6000 BTC very quickly. But even he acknowledges it could be the 'long drawn' drift down before the next rally.

(See from 4:30 if you're impatient).

http://www.youtube.com/watch?v=sQ79__nkttQ&feature=c4-overview&list=UU2ORQrqEEJ168UCXJfJdNtQ

(b.t.w. the whole 4 series of those is definitely worth watching - really fascinating stuff about the cryptolodgy and NSA compromising your PCs with listening devices).

[Its About Sharing]

Regarding saturation point, are you sure about that?

No 

It's just that when bitcoin goes up, I feel like it's going ballistic and the whole world economy is about to change **tomorrow** and when it's going down (as it did today) my rose-tinted specs come off and dark misty ones come straight on which make me think, of course, its actually going to zero

Brother JohnF ("good evening everyone, time for another bitcoin report, this is the 4 hour mt gox...") thinks we might be about to repeat the early December pattern which would project a $6000 BTC very quickly. But even he acknowledges it could be the 'long drawn' drift down before the next rally.

(See from 4:30 if you're impatient).

http://www.youtube.com/watch?v=sQ79__nkttQ&feature=c4-overview&list=UU2ORQrqEEJ168UCXJfJdNtQ

(b.t.w. the whole 4 series of those is definitely worth watching - really fascinating stuff about the cryptolodgy and NSA compromising your PCs with listening devices).

LOL with the Brother John quote, ehehe. I know his work well.

I very much can relate to what you are feeling, and I bet many feel it as well. But something I have to share with you:

We are a part of one of the largest experiments in recorded human history. And I understand we make it about money, because it deals with money. But that is the distraction in a way. This is so much more than money. We are taking a ride on an anti-fragile, disruptive, technologically advanced train. The price point is one point, but it is so small. Think about what this truly represents and the price becomes less of a factor, depending on your intentions albeit.

If the dollar and other world monies continue to have problems and Cryptos continue to grow, we are going to reach a crossroads and we all know what governments will say and what they will try to do. But, it depends on when that happens. We are already growing and "infiltrating" the fiat world. We may be attacked at some point in the near future, but it seems to me that government controlled fiat currencies are having problems all over the world and they are not going to blame Cryptos as the problem (perhaps as a straw that breaks the camels back, but camel is old and dying), Cryptos will rather be one of few alternatives (e.g. silver). If they don't take this train down soon (and perhaps even if they do), the inevitable result of this technology will be felt far and wide. I'll let you imagine what that is, so don't worry too much about the price...

[toknormal]

If the dollar and other world monies continue to have problems and Cryptos continue to grow, we are going to reach a crossroads and we all know what governments will say and what they will try to do. But, it depends on when that happens. We are already growing and "infiltrating" the fiat world. We may be attacked at some point in the near future, but it seems to me that government controlled fiat currencies are having problems all over the world and they are not going to blame Cryptos as the problem (perhaps as a straw that breaks the camels back, but camel is old and dying), Cryptos will rather be one of few alternatives (e.g. silver). If they don't take this train down soon (and perhaps even if they do), the inevitable result of this technology will be felt far and wide. I'll let you imagine what that is, so don't worry too much about the price...

Excellent and very pertinent point. I've often described it as a "pressure gradient" from fiat into cryptoes. I do quite a lot of commenting in online articles and sometimes describe cryptocurrencies as "unlevered, base money". Whereas credit money is highly levered, in other words there is only 1 chair for every 10 people in the credit money economy whereas that ratio is 1 to1 in cryptos. When the music stops (as in, when the US or Japan finally default on their levered-to-kingdom-come debt) it's clear where the "other 9" in the fiat world are going to run.

Your point about crypto currencies being more about a technological revolution than price is also dead on. I actually crossed swords with a capital funds manager today on that. Here's the exchange (I was posting as 'indigopete').

http://www.telegraph.co.uk/finance/currency/10554405/Bitcoin-value-moves-back-above-1000-after-Zynga-move.html#comment-1189647862

[niothor]

Quark will reach 1$-2$ friday 13th.
And will reach 10$-50$ after the Max Keiser report (probably 20th december).

Buy now while it's cheap!!!!!! This maybe is your last chance ever to get so much money!
Your life will be so much different with al this money in your bank account.

It's like going to the casino and playing roulette and putting 5000$ on a random number, only now your chance of winning is 80%!

It's like playing the lottery, not with 0.0000000028% chance of winning, but 80% chance of winning the jackpot!

It's your choice!

Times have changed a bit , a bit more I guess.

[ifightformerkel]

Quark will reach 1$-2$ friday 13th.
And will reach 10$-50$ after the Max Keiser report (probably 20th december).

Buy now while it's cheap!!!!!! This maybe is your last chance ever to get so much money!
Your life will be so much different with al this money in your bank account.

It's like going to the casino and playing roulette and putting 5000$ on a random number, only now your chance of winning is 80%!

It's like playing the lottery, not with 0.0000000028% chance of winning, but 80% chance of winning the jackpot!

It's your choice!

Times have changed a bit , a bit more I guess.

what do you think, will quark ever reach 1-10 dollar?

[niothor]

Quark will reach 1$-2$ friday 13th.
And will reach 10$-50$ after the Max Keiser report (probably 20th december).

Buy now while it's cheap!!!!!! This maybe is your last chance ever to get so much money!
Your life will be so much different with al this money in your bank account.

It's like going to the casino and playing roulette and putting 5000$ on a random number, only now your chance of winning is 80%!

It's like playing the lottery, not with 0.0000000028% chance of winning, but 80% chance of winning the jackpot!

It's your choice!

Times have changed a bit , a bit more I guess.

what do you think, will quark ever reach 1-10 dollar?

When bitcoin reaches 1 mil. That would be my bet
But then again , I've seen some weird things happening so anything is possible.

Also , IAS , I don't see you so much on the Wall Observer thread , what happened?

[mirra]

This was a good day to invest another 2 grand into QRK...

[niothor]

This was a good day to invest another 2 grand into QRK...

Indeed , I bet you did that =))))))

[mirra]

This was a good day to invest another 2 grand into QRK...

Indeed , I bet you did that =))))))

you being sarcastic m8?

[niothor]

This was a good day to invest another 2 grand into QRK...

Indeed , I bet you did that =))))))

you being sarcastic m8?

No