2013-12-04 Yahoo: Bitcoin Alternative Quark (QRK) Increases In Value 500%

[Cunningham]

Yahoo Finance: Bitcoin Alternative Quark (QRK) Increases In Value 500% In The Last Week
http://finance.yahoo.com/news/bitcoin-alternative-quark-qrk-increases-072503725.html

On December 19th, Max Keiser will have Bill Still on his show, talking about QRK ...

[Barek]

With a short term for mining the majority of the coins-out of 247 million to be mined in the first six months, 245 million have already been mined-this ensures that additional mining will not dilute the value of the currency.

Did anyone say Scamcoin?

[Birdy]

With a short term for mining the majority of the coins-out of 247 million to be mined in the first six months, 245 million have already been mined-this ensures that additional mining will not dilute the value of the currency maximum profits for those who already own Quarks.

fixed.

[Shermo]

Yeah I read that and had to do a double take! So 99% of them are already mined, how is that a good thing for anyone but the initial developers?

So many altcoins try and "fix" problems with bitcoin, but they just take things to extremes.

[coinpr0n]

On December 19th, Max Keiser will have Bill Still on his show, talking about QRK ...

So it's gonna stay around at least until the 19th?! Was hoping it would already be dead and buried by then

[Akka]

Yeah I read that and had to do a double take! So 99% of them are already mined, how is that a good thing for anyone but the initial developers?

So many altcoins try and "fix" problems with bitcoin, but they just take things to extremes.

Yes, and Bitcoin really has some issues that could at least be tested with an alt: https://en.bitcoin.it/wiki/Hardfork_Wishlist

Bit so far not a single AltCoin has even tried to address one of this points. Every single one of them is only created, because some guys want to be early adopters, not to improve anything.

[LiteCoinGuy]

and that is the doom of this currency:

"Two features make Quark easier to use as a currency than Bitcoin. First is the larger amount of coin that will be placed in circulation - 247 million (plus an additional one million per year) compared to only 21 million ever for Bitcoin. This makes it possible to deal in whole units of currency, or at least large decimals, rather than thousandths of units, or out to the third and fourth decimal place, as is becoming standard with Bitcoin. Second, the annual inflation rate provides an additional motivation to actually spend Quarks rather than view them as an asset to hold or speculate on. "

people will hate any inflation in the future, much more than today! and that coin does not has the strengh that bitcoin has right now and will have in the future.

[Barek]

Are there any transaction fees? I could not find anything in my brief search.

Just trying to figure out what the incentive is for miners to mine the coin.

[laowai80]

Are there any transaction fees? I could not find anything in my brief search.

Just trying to figure out what the incentive is for miners to mine the coin.

I think since it's mined by CPU only, you can even mine it on a laptop, ipad, phone, etc. when the difficulty is low enough, meaning that there will always be miners, it's not like you even need to buy expensive graphic cards to mine it, not to mention ASICs and other complex expensive devices. And that is a great advantage.

People used to search for extraterrestrials' signals just for the fun of it using SETI project on their computers 15 years ago and weren't paid a cent for that (maybe they still do, I haven't followed it since). Imagine that there is at least a small reward that you can get from running a mining app on a cheapest laptop, in short, there will never be a lack of miners, even if the reward is miniscule in the following years, the transaction network will always be there and it will be be extremely distributed, which is the crucial factor to a crypto survival. My view of it, feel free to disagree.

[Barek]

I think since it's mined by CPU only, you can even mine it on a laptop, ipad, phone, etc. when the difficulty is low enough, meaning that there will always be miners, it's not like you even need to buy expensive graphic cards to mine it, not to mention ASICs and other complex expensive devices. And that is a great advantage.

People used to search for extraterrestrials' signals just for the fun of it using SETI project on their computers 15 years ago and weren't paid a cent for that (maybe they still do, I haven't followed it since). Imagine that there is at least a small reward that you can get from running a mining app on a cheapest laptop, in short, there will never be a lack of miners, even if the reward is miniscule in the following years, the transaction network will always be there and it will be be extremely distributed, which is the crucial factor to a crypto survival. My view of it, feel free to disagree.

It will always cost electricity to mine and create heat and noise. So if the security of the network depends on a few people who let their computer running for the fun of it ... then it's time to get the popcorn.

You know those botnets that turned out to be useless for bitcoin because cpu mining was not efficient?

[Spaceman_Spiff]

Does anybody offer something like Put Options on this thing?  I want to buy a truckload.

[hacknoid]

Kolin explained the purpose of the Quark currency is to build on what Bitcoin has accomplished and improve it to make it less centralized and more accessible than Bitcoin

How does something get less centralized than a P2P network?  And how do you get more accessible than something that is already available to everyone on the planet with an internet connection or cell phone?  This makes my brain hurt...

Oh, and this is not a news article - it's a PRESS RELEASE:

This announcement is sourced from MarketersMedia

[TraderTimm]

Can we somehow have a rule in here about PR-Based "news"?

Its getting goddamned annoying.

[cbeast]

In some Asiatic dialects "quark" is a venereal disease.

[DeboraMeeks]

it's surprising that alt-currencies are getting some attention together with btc. At least this will add some competition and further markets and trading possibility than just btc/ltc markets.

[blastbob]

Someone knows how to pump

[laowai80]

How does something get less centralized than a P2P network?  And how do you get more accessible than something that is already available to everyone on the planet with an internet connection or cell phone?  This makes my brain hurt...

One level of decentralization is when you have a few hunder ASICs as a mining network: Bitcoin.

Another level of decentralization of the mining networks is when you have thousands and hundreds of thousands of kids with expensive graphic cards mining between playing computer games: Litecoin, or any scrypt-based coin.

And an even more decentralized mining network is when everyone can mine with any device they own that has a CPU: laptop, ipad, smartphone, any sort of computer, that could be millions of miners: Quarkcoin.

So, P2P can be more centralized or less centralized, depending on what devices process the actual transactions.

[hacknoid]

How does something get less centralized than a P2P network?  And how do you get more accessible than something that is already available to everyone on the planet with an internet connection or cell phone?  This makes my brain hurt...

One level of decentralization is when you have a few hunder ASICs as a mining network: Bitcoin.

Another level of decentralization of the mining networks is when you have thousands and hundreds of thousands of kids with expensive graphic cards mining between playing computer games: Litecoin, or any scrypt-based coin.

And an even more decentralized mining network is when everyone can mine with any device they own that has a CPU: laptop, ipad, smartphone, any sort of computer, that could be millions of miners: Quarkcoin.

So, P2P can be more centralized or less centralized, depending on what devices process the actual transactions.

Well, I highly dispute that there are "a few hundred ASICs" mining bitcoins.  Aside from the farms (which there are), I would venture there are at least 10,000+ ASICs out there in people's homes.  No, they aren't cheap, and the mining race is too hot right now to keep up, but those units are still there.  And at current prices, they easily pay for the electricity they use. 

I also dispute what you say about the level of "decentralized" - one may be more widespread than the other, but both are decentralized.  It's like being dead, or pregnant.  You either are, or you aren't. 

Now, if you include the way that CPU (and GPU) mining is open to botnets taking over, then sure - there is a much larger number of machines there.  Quark has that going for it in spades.

[LiteCoinGuy]

the developer:



seems legit.

[Spaceman_Spiff]

Seriously, is there any place where these things can be shorted?  This or other altcoins (except for litecoin, which I know can be shorted).  Put options would be preferable to normal shorting.