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Author Topic: I think mining is slowly oversaturated  (Read 2269 times)
virtualdn (OP)
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January 01, 2014, 09:57:27 PM
 #1

It's ridiculous. A coin is launched, difficulty jumps to 5,000 in 10 minutes. This is getting to the point where only the big whales can mine something. Someone should make a coin accessible for the less hi-tech people. It's really no fun anymore.

I would make a coin that rigs cannot extramine.

1 BTC = 1 BTC
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tokyoghetto
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January 01, 2014, 10:00:27 PM
 #2

this is serious business....its not supposed to be fun. people built big mining farms, putting up their own money, taking on risk. Let the whales swim free, in the end they make networks stronger.
virtualdn (OP)
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January 01, 2014, 10:00:56 PM
 #3

when it's getting too serious it's not funny... i know all farm owners don't agree but someone should think about the end users as well

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tasorrog
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January 01, 2014, 10:01:35 PM
 #4

this is serious business....its not supposed to be fun. people built big mining farms, putting up their own money, taking on risk. Let the whales swim free, in the end they make networks stronger.

+1
utopianfuture
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January 01, 2014, 10:02:50 PM
 #5

when it's getting too serious it's not funny... i know all farm owners don't agree but someone should think about the end users as well

Go with Proof of Stake instead like NXT.


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colinfx
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January 01, 2014, 10:04:29 PM
 #6

You get out what you put in right?

Put in a little, get out a little - but whatever you get is infinitely more than 99.99999999% of the rest of the world's population!

Imagine being in BTC at the start and only getting 1250 coins in that first year. You'd be a millionaire now! (Well done to those who took a leap of faith and made a fortune)

Cfx.
BoobaFR
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January 01, 2014, 10:05:07 PM
 #7

with one 290 or whatever you can still make money. i guess without taxes etc. i could live from 3x r9 290 cards with mining and trading.
virtualdn (OP)
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January 01, 2014, 10:43:48 PM
 #8

got nothing against people who invested money... i was thinking about the poorer folks as well

1 BTC = 1 BTC
Nullu
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January 01, 2014, 10:54:56 PM
 #9

Coin creators are just as much to blame. Come on, it's not like they couldn't design the coin so that it's not instamined to death at launch. They either choose not to, or don't have the technical ability to do so. I guess a lot of coins follow the same design because it works. It doesn't mean it's the best design.

This is what the masses want, and this is what the masses get. A lot (not all) of coin makers are in it for the money. They don't care whose hashpower it is. Only how much hashpower there is. The term fair launch leaves a bitter taste in your mouth if you haven't spend over £1000 on a mining rig, know how to compile wallets, or mine a coin the second it is released.

You can't honestly tell me that a coin maker couldn't just adjust the difficulty to avoid a launch instamine?

I really would like to see more experimentation in coins. These copy-pastes are soul destroying.

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virtualdn (OP)
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January 01, 2014, 10:57:07 PM
 #10

^i agree. people are releasing new copycat coins hoping to get rich in a few weeks. where is quality...

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kalus
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let's make a deal.


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January 01, 2014, 10:57:48 PM
 #11

this is serious business....its not supposed to be fun. people built big mining farms, putting up their own money, taking on risk. Let the whales swim free, in the end they make networks stronger.
doge is fun, and it's making money.


DC2ngEGbd1ZUKyj8aSzrP1W5TXs5WmPuiR wow need noms
virtualdn (OP)
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January 01, 2014, 10:58:19 PM
 #12

this is serious business....its not supposed to be fun. people built big mining farms, putting up their own money, taking on risk. Let the whales swim free, in the end they make networks stronger.
doge is fun, and it's making money.

too less for the low end user

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January 01, 2014, 10:58:36 PM
 #13

hey, i am working on a concept of low-tech coin, much more human-based mining.
If anyone want to talk, lets create board and discuss it
kalus
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let's make a deal.


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January 01, 2014, 10:59:41 PM
 #14

this is serious business....its not supposed to be fun. people built big mining farms, putting up their own money, taking on risk. Let the whales swim free, in the end they make networks stronger.
doge is fun, and it's making money.


too less for the low end user
who cares!  'low end user' pennies, VIP pennies, it all adds up to the same bitcoin.  

DC2ngEGbd1ZUKyj8aSzrP1W5TXs5WmPuiR wow need noms
Nullu
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January 01, 2014, 11:01:49 PM
 #15

^i agree. people are releasing new copycat coins hoping to get rich in a few weeks. where is quality...

This is typically what happens in a market. Novelty, copycats, overrsaturation, stabilisation.

Basically the same coin is being released over and over again, then launched, instamined, quick sell, play around on the exchange, then death.

Not hard to spot that all these coins are being released by members with 2 or 3 posts. Reeks of multiple accounts. It's the same repeating pattern over and over again. The innovative coins tend to be launched by people with higher forum status, regular users, and have a genuine interest in discussing cryptocurrency models.

They should just put all these coins under the umbrella crapcoin and realise they are the same coin. Long term value? Worthless.

Maybe a few gems will shine out of the muck, but there is a lot of muck, and a lot of muck spreading. Nothing wrong with getting your hands dirty. It's profitable. It is just a repeating pattern, though. There's no innovation there.

BTC - 14kYyhhWZwSJFHAjNTtyhRVSu157nE92gF
virtualdn (OP)
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January 01, 2014, 11:04:34 PM
 #16

hey, i am working on a concept of low-tech coin, much more human-based mining.
If anyone want to talk, lets create board and discuss it

it would be great if more people would be interested in.

we need an algorythm that it's not based on computer power, low and high end user should have the same chance to get the coins

a coin for average "Mary" and "John" to mine Wink

1 BTC = 1 BTC
atp1916
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January 01, 2014, 11:06:50 PM
 #17

You don't say?!?!?!
Nullu
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January 01, 2014, 11:07:24 PM
 #18

hey, i am working on a concept of low-tech coin, much more human-based mining.
If anyone want to talk, lets create board and discuss it

it would be great if more people would be interested in.

we need an algorythm that it's not based on computer power, low and high end user should have the same chance to get the coins

a coin for average "Mary" and "John" to mine Wink

Jobcoin. Get coins from your 9-to-5.  Wink

BTC - 14kYyhhWZwSJFHAjNTtyhRVSu157nE92gF
Kenshin
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January 01, 2014, 11:07:39 PM
 #19

got nothing against people who invested money... i was thinking about the poorer folks as well

That is why we have CPU only coins.
panonym
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January 01, 2014, 11:14:27 PM
 #20

I'm waiting for proof of burn.
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