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Author Topic: [ANNOUNCE] Ixcoin - a new Bitcoin fork  (Read 104300 times)
nmat
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August 12, 2011, 05:33:29 PM
 #461

And by the way: who is "we"?


Thomas - thomas.nasakioto@riseup.net
Fred Twingham - twingham@gmx.com
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August 12, 2011, 05:39:53 PM
 #462


Are you sure they are not the same person? LOL

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August 12, 2011, 05:41:45 PM
 #463

There's a guy here saying the code will break once it reaches 21 million coins
https://bitcointalk.org/index.php?topic=36701.msg451411#new
Which makes it no different than a couple old versions of the bitcoin client. An oversight in the code doesn't make it a scam, though I am keeping a close eye on how quickly this one gets fixed...

Indeed. We're working on a updates to the Ixcoin client such as integrating 0.3.25 changes. The above issue won't come into play for a few years so we still have time but we'll address it in the next version.

I think that most miners will abandon mining ixcoin as soon as it stops being more profitable than mining btc. Do you think this will happen? Why / why not?

What do you think will happen if and when the majority of miners abandon ixcoin for mining bitcoin? How long will it take before the next difficulty decrease will come into effect? How many blocks per hour will be generated with a sudden drop of miners, and how will that affect the ixcoin network? Have you done these and similar calculations, or is starting the ixcoin chain more of an experiment for you?

Also, why do you think a faster generation of new coins is advantageous enough to merit starting a new blockchain? How do you respond to the idea that you started this new blockchain with the primary purpose being to make you an early adopter so you can get rich quick, especially considering you made 250'000 ixcoins for your personal use (not bounties) before even announcing your project? Many people on this forum including me think just that.

Edit1: Added ", especially considering you made 250'000 ixcoins for your personal use (not bounties) before even announcing your project?".
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August 12, 2011, 05:46:50 PM
 #464


Are you sure they are not the same person? LOL

Fred Twingham at least isn't immediately apparent as an anagram of anyone I know in the bitcoin community (Thomas Nasakioto ≅ Satoshi Nakamoto)

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August 12, 2011, 05:50:52 PM
 #465


Are you sure they are not the same person? LOL

Fred Twingham at least isn't immediately apparent as an anagram of anyone I know in the bitcoin community (Thomas Nasakioto ≅ Satoshi Nakamoto)

 Wink
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August 12, 2011, 06:05:13 PM
 #466

Couple of things:

First, I want to squash the "Satoshi mined a bunch of bitcoins on his own before releasing the bitcoin chain" idea.  He publicly announced bitcoin version 0.1 six days after he generated the genesis block: January 9, 2009:
  http://www.mail-archive.com/cryptography@metzdowd.com/msg10142.html

According to the block chain history, he generated about 10 blocks total before the announcement.  And we know that he didn't pre-generate blocks because the genesis block contains a quote from the January 3rd Financial Times newspaper.

Second, I have no problem with alternative block chains, I just don't personally like how this particular alternative block chain is being promoted and developed and introduced. In particular, I think it is unfair to keep hundreds of thousands of whatever-coins for yourself, and it is unwise to think that a bitcoin variation that is "almost exactly like bitcoin, only different because... well, just because" will ever have anything more than speculative value.

How often do you get the chance to work on a potentially world-changing project?
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August 12, 2011, 06:27:10 PM
 #467

In particular, I think it is unfair to keep hundreds of thousands of whatever-coins for yourself, and it is unwise to think that a bitcoin variation that is "almost exactly like bitcoin, only different because... well, just because" will ever have anything more than speculative value.

I don't think anybody really takes Ixcoin seriously.  As you said, most of us view it as a gimmicky distraction with no inherent monetary use other than speculative value on the Ixcoin exchange.  Ixcoin vs. Bitcoin is like batting cages vs. baseball.  Or the driving range vs. a full 18 hole round of golf.  It's fun for miners who just like to go through the motions and see numbers fly by on the screen, but beyond that it's just an empty shell of what the Bitcoin movement is.

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August 12, 2011, 06:32:04 PM
 #468

It looks like a good chunk of the pre-mined ixcoins are being used for bounties.  And maybe his/their intention is to reserve the rest for future bounties.

At first I thought that it could be a good thing if this new chain was being used to subsidize development that could easily be ported back to the mainline client.  It would be like a sort of testnet, but with immediate financial benefits to whatever extent these new coins are useful/valuable/exchangeable.

But then I saw the list of bounties, and they all appear to be external, and aimed at bringing ixcoin up to the level that bitcoin is already at, rather than extending anything.  Maybe that will change in the future.  Or maybe not.

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August 12, 2011, 06:36:52 PM
 #469

In the opposite side, I think we must take this little experiments in the most serious way.
Just to prove the fact that Bitcoin is unique and not easily replicable.

If you don't own the private keys, you don't own the coins.
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August 12, 2011, 06:38:09 PM
 #470

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August 12, 2011, 06:43:23 PM
 #471

At least this guy is better manager than Satoshi  Grin. I like the idea of allocating large initial chunk of coins to develop the product.
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August 12, 2011, 06:45:42 PM
 #472

Again with the people seeking higher purposes and making obvious fallacies: "why do we need another blockchain?" we don't, necessarily NEED another blockchain, but someone thought bitcoin would be better with a steeper initial rise so we get to the deflationary fun faster so they made one simple change. "But we're diluting the bitcoin brand by allowing IXCoin to exist!" Maybe there's *some* truth to that one, but in the long run is FireFox a better or worse product when it must compete with Chrome, Opera, Safari, IE etc? Is there a need for silver bullion when we have gold? Do we really need as many varieties of sliced white sandwich bread as I see in the supermarket? And how many kinds of toilet paper can one grocery store possibly sell? Competition isn't a bad thing and not every competitor need offer a drastically different product.

Edit: and while I was posting, dancupid said it much more eloquently and with fewer words Wink


Unfortunately, it isn't Firefox vs Chrome, its VHS vs. Betamax.

When trying to drive the adoption of a new technology, having alternatives available hurts adoption because people adopt a 'wait and see' attitude.

Imagine if someone (Microsoft) came out with an alternative to HTML right after NCSA released Mosaic. Now a website designer has two completely different standards (and browsers) to support. Do you invest the money in one and hope you are correct? Or do you sit on the sidelines until the problem gets resolved. The technologically superior solution doesn't always win (Beta is much better than VHS in terms of image quality.)

Besides, IXCoin is a money grab by the OP and you are a fool to invest anything into.

If you found this post useful, feel free to share the wealth: 1E35gTBmJzPNJ3v72DX4wu4YtvHTWqNRbM
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August 12, 2011, 06:49:39 PM
 #473

At least this guy is better manager than Satoshi  Grin. I like the idea of allocating large initial chunk of coins to develop the product.

Good point why doesn't Satoshi offer bounties for objectives for bitcoins to complete? Maybe some goals he would like bitcoin to achieve?

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August 12, 2011, 07:12:51 PM
 #474

I threw this together real quick. I think it works.
it's like blockexplorer but for ixcoin. all the links say 'bitcoin' but i pointed it at the ixcoin chain so its actually showing ixcoin info.

http://buttoncommand.net:2750/
Neat! http://ixcoin.net/ will point there for a little while.
thanks for that. how did you get it to mask up the weird port and the domain name?

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August 12, 2011, 07:34:33 PM
 #475

I threw this together real quick. I think it works.
it's like blockexplorer but for ixcoin. all the links say 'bitcoin' but i pointed it at the ixcoin chain so its actually showing ixcoin info.

http://buttoncommand.net:2750/
Neat! http://ixcoin.net/ will point there for a little while.
thanks for that. how did you get it to mask up the weird port and the domain name?

It's called an iframe Wink lol

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August 12, 2011, 07:36:24 PM
 #476

Hey

Today we have introduced ixcoins support in Coinotron.

In order to start mining ixcoins you must go to page "My account" and change worker type to IXC. That is all!    
You can switch between mining  different coin types whenever you want.

So please join Coinotron and help us solve many ixcoin blocks Smiley

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August 12, 2011, 07:37:26 PM
 #477

Couple of things:

First, I want to squash the "Satoshi mined a bunch of bitcoins on his own before releasing the bitcoin chain" idea.  He publicly announced bitcoin version 0.1 six days after he generated the genesis block: January 9, 2009:
  http://www.mail-archive.com/cryptography@metzdowd.com/msg10142.html

According to the block chain history, he generated about 10 blocks total before the announcement.  And we know that he didn't pre-generate blocks because the genesis block contains a quote from the January 3rd Financial Times newspaper.

Second, I have no problem with alternative block chains, I just don't personally like how this particular alternative block chain is being promoted and developed and introduced. In particular, I think it is unfair to keep hundreds of thousands of whatever-coins for yourself, and it is unwise to think that a bitcoin variation that is "almost exactly like bitcoin, only different because... well, just because" will ever have anything more than speculative value.


Perhaps then Satoshi could donate some of his stash of bitcoins to help fund bounties for bitcoin as did Thomas?Huh?

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August 12, 2011, 07:49:21 PM
 #478

After thinking about it, the reality is that I have way more ixcoins than I have bitcoins.  So why should I want bitcoins to succeed over ixcoins, even if the creator of ixcoins didn't really add any value, and he reserved a huge chunk for himself?  Ixcoins are functionally no worse than bitcoins.
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August 12, 2011, 07:53:02 PM
 #479

After thinking about it, the reality is that I have way more ixcoins than I have bitcoins.  So why should I want bitcoins to succeed over ixcoins, even if the creator of ixcoins didn't really add any value, and he reserved a huge chunk for himself?  Ixcoins are functionally no worse than bitcoins.

Except that Metcalfe's Law says that bitcoin is functionally vastly superior.

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August 12, 2011, 07:59:02 PM
 #480

After thinking about it, the reality is that I have way more ixcoins than I have bitcoins.  So why should I want bitcoins to succeed over ixcoins, even if the creator of ixcoins didn't really add any value, and he reserved a huge chunk for himself?  Ixcoins are functionally no worse than bitcoins.

Except that Metcalfe's Law says that bitcoin is functionally vastly superior.
I'm not sure that necessarily applies in this case.
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