-- The Riddle of the Twin Brothers - Who Were, Are and Will Rule the World!

[zavtra]

A) sorry, not sure why I thought you posted comparisons to DGC.

B) regardless which coin you prefer or call superior, the same argument stands and actually, DGC is one of the better coins out there but it fails and is inferior to IXC for reasons I have already mentioned.

Merged mining isn't that easy.  Other coins have tried and failed miserably.  For example:  i0Coin was a clone of iXcoin yet it did not respond well to merge mining and as a result it died 3 times.

And it would take some time to build up to a 7 PETA hash network and it would take a lot longer to fine tune the code to ensure stability as most coins would fork or die when adding massive hashes all at once.

So why would you as an investor or say a banker risk big money on a maybe when you have a 3 year old coin doing it perfectly with a fully intact blockchain and with a coin that has never died and has stood the hardest test of all:  the test of time.  Cause even the great Namecoin unexpectedly failed that test when it died late last year.

So iXcoin is quickly becoming one of a kind, the only one of its kind, standing [alone] against bitcoin with all the benefits but none of the stigma and no bureaucracy.

Just like Bitcoin, once the mining is over miners will get paid transaction fees.  But also there's a Blackdoor out.  If that's not enough it would be easy to add some small additional coins which miners can mine.

Finally, the 10 minutes, as Friction pointed out above, is perfect but if 1 minute were a better idea it would also be an easy fix with a code update.

So all of your issues with IXC are easily fixable if they were really a problem but what's not fixable with 99% of the coins out there, including your favorite coin, is the weak, inferior and insecure network which guarantees that nobody will ever adopt that coin on any massive scale.  

And that's a problem which cannot be easily fixed with a code update.

I recommend you buy some IXC and hold, cause time is running out.

Okay, a few more concerns I was wondering about.

What happens if Bitcoin becomes massively unpopular? Like say, for whatever reason, people decided Bitcoin was too inflexible, and decided to move to a new currency, and this new currency wasn't ixcoin. Wouldn't the network hashrate drop significantly, and the network would then be massively insecure? At this point, wouldn't a coin such as Securecoin do a better job at protecting itself, as it would be difficult to have many computers attacking its multiple hashing algorithms?

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[FrictionlessCoin]

Okay, a few more concerns I was wondering about.

What happens if Bitcoin becomes massively unpopular? Like say, for whatever reason, people decided Bitcoin was too inflexible, and decided to move to a new currency, and this new currency wasn't ixcoin. Wouldn't the network hashrate drop significantly, and the network would then be massively insecure? At this point, wouldn't a coin such as Securecoin do a better job at protecting itself, as it would be difficult to have many computers attacking its multiple hashing algorithms?

Decentralized crypto currencies like Bitcoin gain their security by the number of participants that are mining the coin.

Just because you have a more complex proof of work algorithm like scrypt or secure coin ( 7 different hashes ) does not make it more secure if you don't have a lot of miners mining the coin.  

Bitcoin gains its value on what is called Metcalfe's Law,  wherre the utility of the network grows with the square of the number of users.   As more miners join Bitcoin mining becomes more secure.

That is what you just don't understand

(1) Fast block rates make a network less secure.
(2) Harder Proof of Works schemes like Scrypt, Scrypt_Jane, Chains of different hash functions,  Memory hard schemes only change the nature of the machines that mine the coin,  but you still need a lot of miners to secure a coin.  With Bitcoin (an iXcoin), you not only need a lot of miners,  you need very expensive miners.  

[FrictionlessCoin]

But you gotta think about it from the point of view of hedge funds cause that's who's coming in the next few months.  These guys look for what sells then look to duplicate it and in that regard, like in getting another ETF going, iXCoin is hands down the best choice.

Cause if Wall Street doesn't see this, and presuming iXcoin goes to at least $10 the way I expect, I will not wait for Wall Street, I will take xCoin to them.  I am already talking to someone in the business about possibly applying for an ETF license in the near future.  Only problem is that it's $1 million fee so I need iXcoin to at least hit $10.

Buy it.  Bank on it.

I'm seriously considering talking to my banking buddies to buy up maybe 10% of iXcoins.

Only problem is, if they attempted to do so,   iXcoin would hit at least $10 that you are mentioning.  Just buying 1% of IXC coins,  170,000 would double the price.

[FrictionlessCoin]

But you gotta think about it from the point of view of hedge funds cause that's who's coming in the next few months.  These guys look for what sells then look to duplicate it and in that regard, like in getting another ETF going, iXCoin is hands down the best choice.

Cause if Wall Street doesn't see this, and presuming iXcoin goes to at least $10 the way I expect, I will not wait for Wall Street, I will take xCoin to them.  I am already talking to someone in the business about possibly applying for an ETF license in the near future.  Only problem is that it's $1 million fee so I need iXcoin to at least hit $10.

Buy it.  Bank on it.

I'm seriously considering talking to my banking buddies to buy up maybe 10% of iXcoins.

Only problem is, if they attempted to do so,   iXcoin would hit at least $10 that you are mentioning.  Just buying 1% of IXC coins,  170,000 would double the price.

You have banking friends?

I worked in banking 10 years and I don't have rich banking friends.  lol.

But yes, it's so hard to accumulate iXcoins that if anyone wanted even a few % it wound sky rocket.

You should at least point then toward it and let then choose.  Reason is that there's a lot of confusion now with so many CrapCoins but if anyone with the know-how looks at ixCoin it will become obvious.

And I am dead serious about an ETF license. But first it has to hit roughly $10 cause if it doesn't do that then I'll admit all my theories are crazy and everyone was right about me being insane.

Not going to hit $10 with cheapskates like you.   Maybe you did not look at the charts at www.ixcoin.co ... IXC is constant relative to BTC,.  The only reason it went up is because BTC went up.   Now if you want to sit on your coins doing nothing then you might as well just buy BTC.

[publicjud]

Okay, a few more concerns I was wondering about.

What happens if Bitcoin becomes massively unpopular? Like say, for whatever reason, people decided Bitcoin was too inflexible, and decided to move to a new currency, and this new currency wasn't ixcoin. Wouldn't the network hashrate drop significantly, and the network would then be massively insecure? At this point, wouldn't a coin such as Securecoin do a better job at protecting itself, as it would be difficult to have many computers attacking its multiple hashing algorithms?

Decentralized crypto currencies like Bitcoin gain their security by the number of participants that are mining the coin.

Just because you have a more complex proof of work algorithm like scrypt or secure coin ( 7 different hashes ) does not make it more secure if you don't have a lot of miners mining the coin.  

Bitcoin gains its value on what is called Metcalfe's Law,  wherre the utility of the network grows with the square of the number of users.   As more miners join Bitcoin mining becomes more secure.

That is what you just don't understand

(1) Fast block rates make a network less secure.
(2) Harder Proof of Works schemes like Scrypt, Scrypt_Jane, Chains of different hash functions,  Memory hard schemes only change the nature of the machines that mine the coin,  but you still need a lot of miners to secure a coin.  With Bitcoin (an iXcoin), you not only need a lot of miners,  you need very expensive miners.  

I guess what you don't understand is when there are only a hand full of pools that control 95% of the hash power in bitcoin, then you really aren't any more secure than an alto-coin having 5 miners.
Anyone of the 5 big bitcoin pools could go rouge and attempt a 51% attack.  So while it's true bitcoin has a huge amount of hash, remember most of the hash is controlled by only a hand full of pool operators.

[peteycamey]

litecoin would take over if bitcoin lost popularity.

or maybe lotto. (very low chance)

[KeyserSozeMC]

A little bit random..

Have You guys heard of ISON (ZION) comet?

[KeyserSozeMC]

A little bit random..

Have You guys heard of ISON (ZION) comet?

Brother, there's no random on any off threads. 

You know this. lol.

Comet ison?  Yes.  Zion? Just the Biblical Zion, but why.

Side note:  someone is trying to buy ZionCoin dot com off me but I denied the offer.

He states he's got a team working on the coin planning to launch in 2 months.  He offered me $200 and I countered with $100,000 non negotiable.  Hahaha!  He of course laughed and hinted at me being insane. lol.

Just a little more random.  lol.

haha, I said random because I don't believe in randomness ( It was a little bit sarcastic )

So, ISON, doesn't have to do with any coin ( no, not ZionCoin ).

ISON is ( was ) a comet which headed towards Sun at 25th of December ( If I'm not right, please correct me, bored to use google)
Astronomers said it's going to be the greatest comet of this century, but.. It burned when it reached the Sun.

After 4-5 days, they confirmed that the comet ISON was dead.

I was curious ( because I'm a paranoid mofo ) and googled it again, today. This is the result I found:

http://www.syracuse.com/news/index.ssf/2014/01/astronomy_expert_meteor_likely_in_upstate_new_york_but_was_it_caused_by_comet_is.html


So, the remains are STILL travelling in our galaxy, in form of dust and ''rocks''
( That dust and ''rocks'' are heading to earth )
So, if You watched the video I posted the other day "I pet goat II", You'll remember the scene with the comets.

Thoughts? ( in general )

[publicjud]

I would love for someone to actually address this...


Anyone of the 5 big bitcoin pools could go rouge and attempt a 51% attack.  So while it's true bitcoin has a huge amount of hash, remember most of the hash is controlled by only a hand full of pool operators.



You can see there are about 4 main players in the bitcoin network.....  How is that secure again?  4 pools controlling 83% of the hash....

[KeyserSozeMC]

KeizerSoze,

It depends if you believe in God and the Bible.

The bible talks about things like comets hitting the earth.  One part talks about a comet which breaks up [in pieces] before it hits, this sparing the earth.

Another verse talks about a mountain on fire hitting the sea.  Comets are often compared to mountains and when they enter our atmosphere they would be on fire.

So according to the bible a warning shot is coming and then a real comet will hit but it will hit water not land.

And the riddle gives an example of a father who promised to stone his son for he was evil. But later felt sorry but had to keep his word so he broke the stone into numerous pieces and then threw it at his son, thus keeping his word while inflicting only minor damage to his son.

All hell will break loose on earth eventually and I have a strong feeling it's gonna start soon, like well within our lifetime.

I'm not sure if I believe in ''God". I think I don't believe. ( Hope I wont be judged by anyone, either God, if he exist. I'm sorry God, I have no bad intentions [ Hope he has a internet connection lol])

I'm an agnostic. Not atheist, but agnostic. There is something, which I can admit. Just don't know if I should call it God, universe, form of Energy or anything else.

Whenever I think of Bible, I see our galaxy (universe sounds better, but I don't want to make this post long). 12 Apostles, 12 planets in our solar system. Jesus Chris, the Sun. ( I can keep going, but I don't want to get You bored )


I'm looking at everything from different angles. I agree 99% with all the things You said  now (1% goes ty my agnostic ego)
We're nothing than atoms. Atoms have a circle of life. Universe is a clock ( How I see universe )
It could have a malfunction, or it's ''programmed'' to act as it acts.

[publicjud]

PublicJud,

Your example is pointless as there's large pools for scrypt as well and that's always gonna be the case.

But the fact remains that there's way way way more massive hashing power for asics and for merge mined coins which makes those coins (SHA256) much more secure, pools or not.

I'm sure our Frictionless guy can give you a more detailed and technically professional answer to that.

Or MarkM, he's great, but he's a Brit and Brits are sleeping right now.

As I understand it, PoS coin requires a miner to own a certain percent of the coin to have a right to a percent of the mining.  So one pool/miner can't just take over 51% of the mining without buying 51% of the coin.

[tk808]

PublicJud,

Your example is pointless as there's large pools for scrypt as well and that's always gonna be the case.

But the fact remains that there's way way way more massive hashing power for asics and for merge mined coins which makes those coins (SHA256) much more secure, pools or not.

I'm sure our Frictionless guy can give you a more detailed and technically professional answer to that.

Or MarkM, he's great, but he's a Brit and Brits are sleeping right now.

As I understand it, PoS coin requires a miner to own a certain percent of the coin to have a right to a percent of the mining.  So one pool/miner can't just take over 51% of the mining without buying 51% of the coin.

There are all kinds of ways to hijack any coin out there.

Bottom line is:  No matter how great a coin is, if the has grate is not very high then that coin is unsecure and therefore it's pointless and useless for any kind of mass adoption.

Satoshi knew what he was doing, and the facts are pretty clear but people push a lot of BS to confuse newbies and to get them to pump the latest Shitcoin.

That said:  There are currently only 3 or 4 coins out of some 200 good enough, secure enough and that have been time tested, to be seriously considered by the smart money a coin good enough for mass adoption and for a second ETF license.

And these alt coins are:  NameCoin, Devcoin and ixCoin.

NameCoin died unexpectedly last year [and it's a limited in scope coin] so there's no way it will ever be considered for mass adoption so we're down to just 2 real viable contenders and out of the 2 ixcoin is the best choice, in part because DevCoin is much more diluted and is set to print coins forever.  

Like I've been saying for 7 months:  Ignore the noise from all the ShitCoins, look at what's really important, security, cause most everything else is either just noise or they can be easily tweaked and updated, but the inferior unsecured networks of 99% of the alt coins will never be fixed, at least not in time to make any difference.

Buy your $100 worth of iXcoin while there is still time.  I am still shouting from the rooftops but not for much longer.

Yes there is a lot of shit coins, but in some cases there is also great marketing techniques.

Marketing and PR have a lot to do with early adoption, which leads to, mass adoption of y coin.

[Hippie Tech]

Is this really just about the number 9 ?

Has the riddle been answered ? lol

[droptable]

Its an octopus. Octopus are known as devilfish. They have 8 legs which was also considered an evil number. The true origin of the number 666 having to do with a Hebrew numerical alphabetical code spelling Nero Caesar. The 666 thing gained ground, after he began in who persecuting Christians, and was thought to be the antichrist. 888 being his predecesor Emperor Claudius. Octopode are cold blooded, and live in the sea. Cathulu being related to the octopus (possibly the father?), "Lives and reigns and conquers the world" which his son takes from him.


The fortune comes in Online Octopus vending, a very lucrative trade, however holding the fortune will be a much greater and painful challenge, because octopus aquarium setups are expensive as hell. In my first setup, cost well over $3k. That and due to their short life expectancies, and amount of work that is required to keep them alive, it will be a painful, yet profitable endevor.

I win.

I love this post. I realy do.
 

[Hippie Tech]

Is this really just about the number 9 ?

Has the riddle been answered ? lol

Lol, you know all my threads are bound to go a bit [or a lot] off topic.

We're way passed the number 9 now.  We are approaching the Wizard and the Veil of Secrecy.  Abc that's when things start to get really interesting.

So yes, the riddle has been answered:  IXC is XIC, but now the riddle takes on a new meaning.

Off topic Who me You're one to talk !

Most of those off topic posts could have easily been avoided had you not taken so long to get that copy n paste craaap COL client up and running. I was essentially begging you to take those stanky coins back. heh..

So ... did we do the 'as is above, so is below' in correlation with the numeralogical aspects of the number 9 ?

[publicjud]

Vlad2Vlad, you have any Ixcoins to sell a person?

[publicjud]

Vlad2Vlad, you have any Ixcoins to sell a person?

Wait a minute, you wanna buy iXCoin?  I thought you were one of the skeptical ones?  What made you change your mind?


I'm glad if you changed your mind.  I think it's the right choice.

Sorry I can't sell any but you can buy fairly cheap now on cryptsy or vircurex.  It's hard to buy larger quantities but like 1 BTC is very doable.

Good luck!

I am skeptical.  But the coin is so cheap right now what is there to loose?    I see the point you make, but at the same time, I also believe a shorter block time/multi ecrypted coin will take over bitcoin copy cats...  I'm still looking for my perfect coin to go all in on....

[FrictionlessCoin]

Vlad2Vlad, you have any Ixcoins to sell a person?

Wait a minute, you wanna buy iXCoin?  I thought you were one of the skeptical ones?  What made you change your mind?


I'm glad if you changed your mind.  I think it's the right choice.

Sorry I can't sell any but you can buy fairly cheap now on cryptsy or vircurex.  It's hard to buy larger quantities but like 1 BTC is very doable.

Good luck!

I am skeptical.  But the coin is so cheap right now what is there to loose?    I see the point you make, but at the same time, I also believe a shorter block time/multi ecrypted coin will take over bitcoin copy cats...  I'm still looking for my perfect coin to go all in on....

Vlad... you're the economist.

Can you explain to him that the cost of any scarce good is related to the cost of acquiring (i.e mining) said goods?

[VERUMinNUMERIS]

I don't understand why it's so hard for people to understand why network security makes or breaks a coin and the fact that any other feature or advantage of a coin can be easily duplicated, copied and implemented by any other coin. 

There are absolutely no barriers to copying things like block-time and PoS yet people gamble on CrapCoins based on these useless, easy to copy features while ignoring the most important feature of all and one which is very difficult to copy and implant, and that is the network hashrate which is the security if any coin.

[FrictionlessCoin]

Don't you understand that the block time can be changed with a simple code update?

Don't you understand that PoS can be added to any coin with a simple code update?

If what you say were true, Bitcoin would have updated its code and so would all the other coins like IXC, so this advantage you speak of is a joke as it can be copied anytime by any coin.

But what cannot be copied is the near 9 peta hash of secure mining power. And that is the single biggest need for any coin in order for it to ever be used on a massive scale. 

And of course, the economics of it all - 1 Tera hash mines you 1,000 IXC per year while you can buy 7,000 for 1 BTC.  In other words, IXC is way cheap now and its value should reflect the necessary resources to mine it.

Merge mining aside of course.

Let's see,  let's do the math here,   7 peta hash is 7,000 terahash.  A single tera hash miner costs around $6,000.    So to mine 1/7,000 of IXC in a year will cost $6,000 worth of mining hardware.   Approximately, 5 million coins are mined per year.  5 million / 7,000 - yields 720 coins per 1 THs miner.  In short,  $6,000 worth of equipment mines you in a year, 720 IXC. At 12 cents a coin,  that $6,000 miner will mine $86 worth of IXC in a year!  

Vlad,  another point that you need to explain to people who aren't familiar with economics it the notion of "bundling".  See, people are in the mistaken notion that coins that are merged mine come for free.  

This of course is incorrect because you can't get NMC and IXC without actually mining for BTC.   The current ROI of miners typically involves the mining of BTC, NMC and IXC combined.  Just like you mine copper to get gold, its the same thing.  You don't mine IXC by itself,  if so, you will go broke trying!