...I meant the unequal distribution of the coins mined in the early days. I didn't say that the developer was the only miner and I don't believe that is the case. This scheme was applied way earlier in SolidCoin and Tenebrix and the likes.
Quark also doesn't seem like the P&D coins we have seen back in April. Quark was developed later and the price seemingly never went up very far. I fail to see how the coin can provably be fairly distributed without early people hoarding large amounts.
Even some now very popular coins have a questionable debut like MinCoin which initially had a 500 coin block reward and is now down to 2 coins per block. At one point there was a huge 400k selloff, so it seems some early miner got out. Even the very popular FeatherCoin had 3 million coins mined in the first 24h due to the low difficulty and the limit on the difficulty adjustment. Sure QuarkCoin might take off, but how can you prove that it or one of the other coins is fairly distributed? (I disregard Satoshi's 980k coins as he deserves it
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Your absolutely correct as far as I recall. But fact is this was known and mentioned when Quark came out that it would be a fast maturing coin. It was in it's very foundation, all spelled out. And yes, I recall it was much like many other coins in that the first days/weeks were highly rewarding for miners. All to attract miners in the first place I suppose. To get it launched as in succeed to launch instead of flop and fail to launch at all. Or at least that seems to be the idea when dozens of crypto's are all rolling out one after the other during this last year.
But it stands that they didn't really pull the wool over anyone's eyes at all. And Quark is much like SRC (Securecoin) in that it is one of the most highly secured coins, a possibly extremely attractive quality should any one algorithm prove cracked at any time in the future.
I really don't want to argue with you because your points are valid, but maybe your reasoning is not. There is no hidden unknowns with Quark. Or many of the other crypto-coins either. It is what it is. Maybe your a late comer and bummed. Join the club! But that doesn't mean this is even remotely over. All comers welcome. Well, not welcome by many, but welcome by those like myself. I am still awaiting "the masterpiece", and one that takes centuries to mine. Of course it's already out maybe. One that Bitcoin Firster's savagely attack at will. It's called Novacoin, and it has wonderful features and foundation. Hence their scared of it. And yes it has a sorted past history. Questionable. But dig deeper and it's a real contender. A huge contender. Just like PPCoin is. And Primecoin too.
See this site to review many crypto-coins historical block history
http://cryptometer.org/index.html , but Quark isn't there for easy, quick analysis. Then again the reader will learn much there about many crypto's. Even bitcoin was very easy to cpu mine at first. If only I had been one of those lucky ones to have run across it and had the light bulb in my head register to give it a go way back then a few years ago...
Some are much more ethically started, if that's what you wish to call it. I sure do. But it is what it is. I often wonder why not have a coin that doesn't get fully mined ever, but is of course extremely difficult to mine so that it never is allowed to become inflationary. That is grow faster than the human population growth today at around 1% to 2% annually. That reins in the borrow and spend governments. And De-fangs the banksters too. No more money for nothingm and trophy wife's too for that matter! NVC comes very close to such a solution. As maybe do others but not as close from what I recall. Novacoin is a tough coin to mine. Just look how few even exist so far. But up to 2 billion are able to exist as it stands today in the code. But will take a very long time to mine that many. Very interesting indeed.
It's only entirely unethical if they freeze out other miners while calling it a fair start. I had that happen to myself more than once. In fact i never got in on a lauch date yet! One reason or another, a few times though it smelled...
Some claim and announce "no premine" but really do go all out to 'insta-mine' way more than anything even remotely ethical at the very start. Again: see
http://cryptometer.org/index.html That is all about Greed and Unethical behavor gone rotten to the core. Then again some of those Pump and Dumps are still around, and getting adopted by much more ethical developers, and it stands to reason the owners of those coins that ended up with the dumps want assistance for their stashes. A reasonable thing. And some might even have futures too.
Another unethical tactic is to make it difficult for more challenged types to mine the coin at launch, by very little to almost no technical help that's understandable by anyone but geeks on how to mine them yourself. The only thing I see wrong with the starts of say Quark and Primecoin are that they were not easy to figure out how to mine at first, nor easy to mine at all. But it is what it is. Just like Securecoin wasn't, isn't easy to mine with any CPU. It's tough to get them, takes a lot of CPU time, gotta figure out setting and how just to make it all work, especially if that PC(s) are used for anything else as well while CPU mining. Hint:" setgenerate true 2 " for about 50% usage of a Quad Core CPU with Securecoin. In fact recalling when I got into GPU mining that wasn't easy either. But I did run across a website that made it doable for novices:
http://cryptojunky.com/blog/2013/03/12/absolute-beginners-guide-to-litecoin-mining/ But at least they all did announce their starts (QRK, SRC, and Prime), and no one was frozen out either. All pass my smell test at any rate.
But only one grabbed me (SRC). It's developer(s) seem extremely ethical. SRC's older brother is DGC. So that kinda sold me. That and it had a large community already and all. But Primecoin is a wonderful coin too, with the PPCoin Developer behind it if I recall correctly. I own them all of course. All so far but Prime. But that's just because I slow played it too long, my fault. His white paper on Prime was a healthy read, if long winded much like mine can be. Still it's a must read to learn all about Prime. I just hate to pay retail though, lol...
I would rather see flat mining/production rates all the way through. See DGC and others for that. If you compare those at
http://cryptometer.org/index.html one will find some that are extremely ethical starts, with flat production curves from the get go, and no premines, or wonderful crypto-commodity types such as my favorite CGB (CryptoGenicBullion) that publicly announced a very modest premine at the start in order to effectively promote and market that crypto to all but also make all but certain it succeeds in it's mission. Well I am sold on it 110%. That's a wonderful thing too. Nothing wrong with a dash of premine for the support of the crypto itself. CGB has been my favorite of all crypto's so far. With only suddenly BTB (Bitbar) and another old favorite I had lost hope for but most recently found new support is DMD (Diamond), and all three having such rare qualities (low total production rates). And after those then only POS Interest payments are made to longer term holders of said coins that hold them tight in the same wallet for a set period of time, at least for CGB it's 30+ days in same wallet for POS interest earnings as I recall. Toss in another not well known called Cosmoscoin (CMC) POS/POW with zero transaction fees and other unique features such as transaction comments as I recall and well suddenly it has renewed major support, thankfully. I loved that one from the start as well, a LOT. Yet it's developer skipped, I think? Still, the rest of the remaining community picked up the pieces and right now I am once again mining CMC as I type this.
There are many different flavors of crypto today. Quark is a hybrid like Secure in that both are POS & POW, and both will pay interest from what I gather, at a very modest rate, much like CGB's 1% to 2% annual rate. About matching human population growth in CGB's case.
Quark and Securecoin are both the MOST Secured crypto's today, if we are to believe what's stated about them. Seems fair to believe what's stated. So far it appears to be true. No one has stepped forward and stated bs to either one of them. Only some FUD by a shady few greedy types out to bash and trash all the competition, behaving much like Banksters do. Hence meet the new boss, same as the old boss, if that crap stands.
But the mystery behind Quarks developers leaves me very troubled. They need to answer more than a few questions, even if from the shadows. And forgive me if they did already and I haven't seen those answered questions from others and myself.
I myself don't know if "deflationary" type crypto such as bitcoin will remain most attractive what with POS (Proof of Stake) crypto earning interest, much like other financial assets do, such as bonds. Where as the POW type crypto's merely slowly end up being slightly deflationary over time due to things like wallet data corruption, bit rot, accidents, and loss of pass phrases. And well it makes POW Only crypto's into merely commodities that can substitute as currencies (mediums of exchange), as well as stores of values too. But with a gradual, but extremely modest Deflationary twist. That's untested. An unknown quality. I can see how it may harm economies if it induces too much savings since POW will never stabilize until again reaching zero when finally abandoned, if ever. Instead it theoretically will simply keep going up in value in the face of ever more bit rot, loss of pass phrases, and what not.
Where as POS types will merely likely just maintain their value since the very same problems of loss of coins will effect them to the same average degrees as it effects POW Only types. hum...Interesting there as well.
Yes, some crypto-currencies are more ethically started. Some are more ethically produced, maybe. But it's all there for everyone to research. It may not be easy to find, but it's all there for anyone that persists to search for the answers.
My favorite CGB matures the entire 1 million (highly rare type of crypto) around the first of this next year. A fast maturing, highly rare and precious Store of Value. At least that's what I refer to CryptoGenicBullion as. And after that it kicks into POS interest mode being a superior form of Store of Value than say purchasing gold or silver, and paying the extreme commissions of gold and silver purchases, and then paying for a safe deposit box, or what not, to store that, well suddenly CGB and others such as BTB and DMD seems very attractive. Even any Crypto up to BTC does as well (btc with 20 Million grand total Produced, eventually).
Where as CGB earns a very modest, but real interest, that's a great bonus to the mere 1 million that will be initially produced. After them only the POS interest ones will see any futher production. Of course we have to see how it all plays out, there are questions about how this will all play out in the future. But at least CGB and others doesn't cost at least 7% or up to 15% in commission to both purchase, and then later sell gold or silver bullion. Much less extreme markups of collectible coins. Instead CGB and other crypto's like it are highly efficient. A sudden competitor to precious medals and sure to be attacked by their biggest supporters and backers. Well at least the less ethical ones. The others may just simply "question" the viability and safety of such new stores of value and all (FUD).
Where as Quark is highly diluted. Which is fine too. Perfectly acceptable. Another flavor of crypto much like others in it's class, but Quark as that massive security feature set that the rest don't. Hence it gets plenty of begrudging by other competitors supporters. Well meaning or not. And meaning it's much more geared to things such as every day purchases and spending too being very plentiful and easily broadcast to a very wide audience with much appeal.
Where as those Precious/Rare Stores of Value end up being not such a good match for that, at least on a certain level where few will want to think of 0.00000001 as a price or amount equal to say $1 or a dime maybe. People are likely going to desire whole numbers, as in 1 or 4 7 9 100, etc. But we all can learn to deal with .000000100 if need be.
Yes with eight digits to the right of the decimal point their doable that way too. At least until their prices reflect what I believe their value may soon reflect years down the road. Forget the decimal point is what I do. I look at .00001000 as 1000 instead. It makes it much easier that way. and putting a space in there would be so nice as well. Example 0.0000 0000 That makes it much easier to read too.
There are so far about four types of crypto that I have identified. Figure them out.
Quark is geared to take on types like Litecoin and Bitcoin with ease. So are many others. The field is widening. Quark though offers seemingly higher security if what is stated is to be believed, same for Securecoin too. Wow. A real twist there! Just in case. FUD spelled backwards maybe, lol. That's why some are scared, or at least in fear of it, they sense weakness in theirs maybe? And attack Quark in return because of this? Disingenuously at that? Or seemingly so! Or at least that's my premise there.
Same for other best of breed contenders. I suppose they might do the same to Securecoin but that's yet to be seen. Maybe like myself they own SRC. But not Quark. Well I highly diversified. And weighted heavily towards the top several of around 2 dozen crypto-currencies. But I went far out to two dozen because it's tough to figure who lasts and who doesn't last. Or where the biggest near term gains are to be had, lol. In other words I own all but one that I mentioned so far.
Lot's of research and due diligence is called for. I myself missed the finer points of Quark but just barely caught them in time before it's fast run up in value. But the road ahead will be most rocky. As in fasten your seat belts tight! Many wont make the cut. But I am not concerned about losing several, or even many, just as long as a few succeed in my crypto portfolio.
Today as I type this China just banned Crypto-currencies such as bitcoin from being utilized or traded in financial institutions in China, or something to that effect. Oops. Major blow there. But at least the people and businesses can do as they wish still, in China that is, SO FAR, just not the banks and other "financial institutions", which leaves a few questions.
I never trusted nor never will trust Red China Government. For quite obvious reasons I should add. At least if what we are told is indeed true. Yet here we exported our factories there for a few extra dollars and nothing else but debts in return. What fools.
Do your due diligence.
My signature in my posts reflects that very message. See below.
Caveat emptor - let the buyer beware!
