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cshelswell (OP)
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September 28, 2013, 01:57:03 AM |
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What do folks think? i'm just watching it and it wondering if it might actually take off.
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meta.p02
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September 28, 2013, 02:14:48 AM |
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I think ByteCoin would become just another SHA-256 altcoin like Terracoin. Its main purpose is to be an exact Bitcoin clone, however as a minor coin it cannot survive like that. Reason: huge difficulty drop, then flash mining, then up again
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cshelswell (OP)
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September 28, 2013, 02:42:53 AM |
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yeah that's true. I might hold off for now  - thanks! |
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xsfgsdrwe
Newbie
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Activity: 56
Merit: 0
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September 28, 2013, 02:49:15 AM |
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I think ByteCoin would become just another SHA-256 altcoin like Terracoin. Its main purpose is to be an exact Bitcoin clone, however as a minor coin it cannot survive like that. Reason: huge difficulty drop, then flash mining, then up again
If there is no improvement then there is no need to adopt and support it. |
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tokeweed
Legendary
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Activity: 4130
Merit: 1461
Life, Love and Laughter...
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September 28, 2013, 06:18:02 AM |
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What do folks think? i'm just watching it and it wondering if it might actually take off.
yes. its always a good time to buy byte coin. |
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Anon136
Legendary
Offline
Activity: 1722
Merit: 1217
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September 28, 2013, 06:21:18 AM |
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I think ByteCoin would become just another SHA-256 altcoin like Terracoin. Its main purpose is to be an exact Bitcoin clone, however as a minor coin it cannot survive like that. Reason: huge difficulty drop, then flash mining, then up again
supposedly someone is working on a merged mined patch and there is pretty good consensus among the community for a hard fork. |
Rep Thread: https://bitcointalk.org/index.php?topic=381041If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited? |
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Anon136
Legendary
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Activity: 1722
Merit: 1217
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September 28, 2013, 06:21:52 AM |
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it all depends on whether this guy who says hes releasing a merged mined patch soon is legitimate. if he is than yes, if he isnt than no.
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Rep Thread: https://bitcointalk.org/index.php?topic=381041If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited? |
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Buffer Overflow
Legendary
Offline
Activity: 1652
Merit: 1016
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September 28, 2013, 07:00:43 AM |
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What do folks think? i'm just watching it and it wondering if it might actually take off.
Why not just use Bitcoin? Bytecoin started as an April fools joke. |
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cshelswell (OP)
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September 28, 2013, 07:11:33 AM |
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the price is going pretty good on cryptsy so i'm not the only person that thinks it might be a good bet....
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meta.p02
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September 28, 2013, 07:47:17 AM |
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No buy depth on Cryptsy. 956 BTE (good for 19 more blocks) on .00019 and then it's a straight drop to .0001225. In fact, I think it's just a temporary pump. I could just spend a dollar and push it back to .0001225.
Anyway, the Bytecoin network is so weak that you only need ~40GH/s to 51% attack it. Why anyone would ever bother to 51% attack Bytecoin escapes me, though.
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Buffer Overflow
Legendary
Offline
Activity: 1652
Merit: 1016
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September 28, 2013, 07:59:40 AM |
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Anyway, the Bytecoin network is so weak that you only need ~40GH/s to 51% attack it. Why anyone would ever bother to 51% attack Bytecoin escapes me, though.
Exactly. It's very worthlessness protects it from attack. |
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meta.p02
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September 28, 2013, 08:12:33 AM |
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Anyway, the Bytecoin network is so weak that you only need ~40GH/s to 51% attack it. Why anyone would ever bother to 51% attack Bytecoin escapes me, though.
Exactly. It's very worthlessness protects it from attack. It's similar to the way MarkM described GRouPCoin - the value of the blockchain was so pathetically low that it would have been extremely unprofitable to attack it (it would be better to merge-mine it forever). However, we most probably (I hope) won't see merged mining for ByteCoin anytime soon. |
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panck4beer
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September 28, 2013, 08:18:55 AM |
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supposedly someone is working on a merged mined patch and there is pretty good consensus among the community for a hard fork.
How many members this ByteCoin community has? I bet you can count hardcore ByteCoin fans with fingers on one hand. |
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cshelswell (OP)
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September 28, 2013, 09:01:47 AM |
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i'd be quite keen to mine it but 11ghs with the currently difficulty just doesn't cut it. For now I'm PPCoin. Bitcoin difficulty is just getting silly. I wonder how many people with just a few BE's will drop bit coin now and go somewhere else?
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Buffer Overflow
Legendary
Offline
Activity: 1652
Merit: 1016
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September 28, 2013, 01:14:18 PM |
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Bitcoin difficulty is just getting silly.
Good news. Stronger network. |
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movellan
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October 01, 2013, 04:57:03 AM |
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I think ByteCoin would become just another SHA-256 altcoin like Terracoin. Its main purpose is to be an exact Bitcoin clone, however as a minor coin it cannot survive like that. Reason: huge difficulty drop, then flash mining, then up again
supposedly someone is working on a merged mined patch and there is pretty good consensus among the community for a hard fork. I wouldn't call the poll on ahmed-bodi's forking proposal thread a "consensus". 20 for, 18 against. https://bitcointalk.org/index.php?topic=292381 |
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meta.p02
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October 01, 2013, 08:24:43 AM |
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The situation before the last diff spike is happening again... we're back to 35794.675 diff. 2016 blocks in less than a day - crazy!
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ahmed_bodi
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October 01, 2013, 08:51:53 AM |
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exactly and the hashrate dropped from 1.5th after the second retarget. i held off the patch just to prove a point. its going to be a reptitive process. people will mine between the low diff blocks like terracoin then dissapear during the high diff blocks. its basically being used the same way terracoin is. imo thats why the merged mining patch is needed. so it can gain some consistent hashrate
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Bitrated user: ahmedbodi.
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cshelswell (OP)
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October 01, 2013, 09:23:15 AM |
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ive just put a facebook page up (i hope hope you don't mind?) I'll do everything I can to try and promote this coin. I love that it's not merged yet let's give it a few weeks and see where we can get it.
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ahmed_bodi
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October 01, 2013, 09:28:02 AM |
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sure you and coretechs are considered part of the bytcoin dev team anyway  but yeah i dont mind. i think we can wait 1 or 2 more retargets and see how it levels out. diff will go sky high with bitparking on the coin but atleast itll be stable enough to be used as a currency |
Bitrated user: ahmedbodi.
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