CoinGeneral
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The General
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December 08, 2013, 05:37:07 AM Last edit: December 08, 2013, 06:20:08 AM by CoinGeneral |
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Does everyone ignore the fact that Stablecoin has 1.2 million premined?
Yeah I complained in the main thread about that here, and so did a few other people: https://bitcointalk.org/index.php?topic=349198.msg3853325#msg3853325To which I got attacked by Hazard. Then the developer replied with this: https://bitcointalk.org/index.php?topic=349198.msg3854945#msg3854945Yes the 1.2 million coins were premined, but it's up to us whether or not to put our trust in the developer that he doesn't do something malicious with those coins. Not as many people are concerned anymore as they were before, as they felt like now they could trust him. I don't think he will do anything malicious with those coins but who knows for sure except someone in the future. This is not a good argument. Everything is visible. It can't happen for the coin to live. From the developer himself: What everyone seems to be worried about is the rogue developer situation, wherein the developer pushes out code that the community would deem to be malicious in nature. I'm a huge fan of game theory, so let's go through some possible things a rogue developer could do in a situation like this.
1) Push out a client that contains a keylogger / wallet stealer / other malicious code. 2) Push out a client that has a backdoor in the transaction verification system, allowing the creation and spending of an unlimited amount of coins. 3) Push out a client that makes the genesis block spendable again.
Scenario 3 is the most noticeable and least profitable of the three. It is a wholly worse variation of scenario 2. It would make no sense for a malicious actor to engage in scenario 3, when superior options are at his disposal. So, we can rule scenario 3 out of the equation. That leaves scenarios 1 and 2, which can be done on any coin, not just StableCoin. If you are worried about this sort of thing happening, your worry should extend to all coins, not just StableCoin.
This is why all code is open source and available for peer review. If someone attempted to launch such an attack, it would be in plain sight for everyone to see, and would get called out very quickly. Hi, I literally link that same quote in what you quoted, then you repeat it to me saying I'm wrong. lol. I even say: "I don't think he will do anything malicious with those coins but who knows for sure except someone in the future." Please, read!
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tiptopgemdotcom
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Truly decentralized stable asset
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December 08, 2013, 07:50:37 AM |
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Worldcoin has some serious momentum right now.
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GameKyuubi
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DTCxNMC
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December 08, 2013, 09:07:02 AM |
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Does everyone ignore the fact that Stablecoin has 1.2 million premined?
Do you not read? It was provably destroyed.
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BTC: 15SLrNo6PKVfsH5JLtatJcVkSQXCk1LXyq full stack Node
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MsCollec
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December 08, 2013, 09:27:02 AM |
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Worldcoin is gaining momentum
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dustofdeath
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December 08, 2013, 10:02:45 AM |
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this poll would need more options and 100x more votes to be viable.
qrk and such are boosted inv otes by the largest shareholders who want to make quick profit off it... not cuz its a good one thats worth being on the trademarket.
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disclaimer201
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December 08, 2013, 10:09:48 AM |
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DGC is cool being an underdog right now. Dev is active as ever. Something, which can't be said about most other coins. Community is growing. No pre-mine, no instamine, fair launch and fair long-term coin reward. DGC has 40 second transactions but much fewer orphans than even 'faster' coins.
Since all I can see are huge games of pumping, dumping, and manipulation, it would be best if DGC was left alone until some of the smoke cleared up. But make no mistake, DGC will shine in 2014.
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Azure
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December 08, 2013, 10:23:26 AM |
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QRK
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BitcoinTate (OP)
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DigiByte Founder
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December 08, 2013, 12:50:47 PM |
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this poll would need more options and 100x more votes to be viable.
qrk and such are boosted inv otes by the largest shareholders who want to make quick profit off it... not cuz its a good one thats worth being on the trademarket.
This poll was based upon this: https://bitcointalk.org/index.php?topic=359521.0;topicseenDon't agree with it myself. But let the people be known!
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- aka The "DigiMan"
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Zubilica
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December 08, 2013, 12:52:07 PM |
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quark
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BitcoinTate (OP)
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DigiByte Founder
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December 08, 2013, 12:53:44 PM |
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The purpose behind this pool was to gauge the community's support. It's obvious now there are a few select coins that have some serious potential.
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- aka The "DigiMan"
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BitcoinTate (OP)
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DigiByte Founder
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December 08, 2013, 12:57:28 PM |
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Can anyone explain why my post count went from 800+ in April to 70 for the last few months? Hasn't increased at all... have seen a few other names I recognize from the Jan- Feb era in the same boat.
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- aka The "DigiMan"
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bnogal
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December 08, 2013, 03:25:08 PM |
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cant wait to dump my duckcoins, muahhahahaha
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BazkieBumpercar
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December 08, 2013, 03:34:50 PM |
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WorldCoin, for it's steady and active community
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Dogecoin
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December 08, 2013, 03:37:29 PM |
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dogecoin, of course!
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Dogecoin developer comments
PMs are not read, please message individuals directly if needed.
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arnoo
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December 08, 2013, 03:41:41 PM |
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Deutsche eMark
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rikkejohn
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December 08, 2013, 04:03:14 PM |
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just not QRK with all the little shills littering BTC-e at the moment. I bought some of these with some spare change at Cryptsy - cost 0.00000052 Imagine my disappointment that after selling them at double he price, someone decided it was the coin to pump to the idiotic price it ended up at. Add DGC if anything, which has stood the test of time. DVC is a nice coin, too. Or perhaps Shitcoin? I heard it has an honest Dev. lol. Get rid of FTC and NVC.
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1PkwpyTLo5TfagzCPgjdvQFNVzuEyHViGt
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rikkejohn
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December 08, 2013, 04:06:31 PM |
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Worldcoin has some serious momentum right now.
It is doing well, but it always on pumps, which I hate. Watch the WFC offers pile in an at over the low bid, soon enough it is pumping. ut then always ends in a little dump.
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1PkwpyTLo5TfagzCPgjdvQFNVzuEyHViGt
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Coinpicker
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December 08, 2013, 05:03:37 PM |
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mec
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letta
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December 08, 2013, 05:12:22 PM |
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I'm voting StableCoin because it actually brings something unique to the table. Quarkcoin pragmatically brings nothing new to the table other than some security features, but cryptocurrencies are already really secure so it's more or less a clone coin. And it being mentioned on a T.V. show does not give it any better fundamentals for it to be a currency. Stablecoin will offer anonymity with mixed transactions, and will have a very steady supply because its difficulty adjusts rapidly, every 90 blocks. Also, in reference to the recent bitcoin crash, StableCoin has performed incredibly well: On Tuesday, December 3rd 2013, the price of Bitcoin was around 1,100 dollars. The price of StableCoin was around 12 - 13 cents.
Today, on Saturday, December 7th 2013, the price of Bitcoin, after ENORMOUS fluctuations and instability, has now settled at around 750-775. About a 30% decrease.
While almost every other altcoin's value has plummeted, what is StableCoin's value at? About 16 cents. This is at least a 25% increase. If this isn't a sign of StableCoin's future and stability, I don't know what is.
So my vote's all for StableCoin. 100% agree with this. I see no reason to use quark, I do not believe their idea of mining the entire coin base first and then trying to get circulation is a good idea, it will not last. StableCoin however has some very nice ideas behind it, I really like how the developer is approaching the community and explains his choices well.
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Netnox
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December 08, 2013, 05:29:36 PM |
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Quark is backed by keiser, marketing and connection is very important, and Quark is miles ahead right now. Also it brings a new economical model which is very interesting. We don't need another copy of BTC. That's why Quark is shining
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