ycsi
Member
 Offline
Activity: 84
Merit: 10
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January 15, 2014, 05:46:41 PM |
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I just joined this coin and this forum today.
Tried to browse all pages from the start but had to give it up when my eyes started turning bug-eyed..
I like the idea - but fail to understand what will happen after 1 year when all 42 coins are mined..?
How can it keep value - and how will it circulate..?
Its rarity is its value. It hopefully will be traded in the future as a currency. I view 42 as a commodity, (like Bitcoin and Litecoin really are), but even more so because there are only 42 coins. Not so sure about that rarity when there are 42,000,000,000 coins to be mined. Only they are called Dents... (sorry if I missed/added few zeros) |
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janos666
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January 15, 2014, 05:55:04 PM |
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2. Difficulty adjustments - Mere 7.5 minutes
Since the difficulty gets adjusted so rapidly, the pump and dump syndrome by certain profitability mining multiple pools gets evaded.
Thus the rarity of the coin remains intact.
But bitcoin and litecoin coin's difficulty adjustments takes many days to get adjusted thus a lots of mining power are wasted abruptly.
3. We all know that Bitcoin and Litecoin has been mined in millions and only those whales who pre-mined them are controlling the market prices.
So, when these hoarders dump their coins, the market crashes lethally.
Thus we are in a position to get behind some new alternatives so save ourselves from this volatile market.
Yet it is happening right now. I don't think the diff retarget system really matters. Some multipools will always think they can milk profit from this coin, so even if they fail to actually realize their expected profit, they will try regardless. And that is what really matters. I don't see a difference here. Do you know who owns most of the traded 42 coins right now? Are you sure about the traded amount? |
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StewartJ
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January 15, 2014, 05:57:20 PM |
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I just joined this coin and this forum today.
Tried to browse all pages from the start but had to give it up when my eyes started turning bug-eyed..
I like the idea - but fail to understand what will happen after 1 year when all 42 coins are mined..?
How can it keep value - and how will it circulate..?
Its rarity is its value. It hopefully will be traded in the future as a currency. I view 42 as a commodity, (like Bitcoin and Litecoin really are), but even more so because there are only 42 coins. Not so sure about that rarity when there are 42,000,000,000 coins to be mined. Only they are called Dents... (sorry if I missed/added few zeros) We are not talking about billions of Doge Coins here... do you know how hard it is to mine just one 42 coin? |
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janos666
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January 15, 2014, 06:00:02 PM |
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I just joined this coin and this forum today.
Tried to browse all pages from the start but had to give it up when my eyes started turning bug-eyed..
I like the idea - but fail to understand what will happen after 1 year when all 42 coins are mined..?
How can it keep value - and how will it circulate..?
Its rarity is its value. It hopefully will be traded in the future as a currency. I view 42 as a commodity, (like Bitcoin and Litecoin really are), but even more so because there are only 42 coins. Not so sure about that rarity when there are 42,000,000,000 coins to be mined. Only they are called Dents... (sorry if I missed/added few zeros) We are not talking about billions of Doge Coins here... do you know how hard it is to mine just one 42 coin? His argument is valid in my opinion. Technically, it's just a floating point number. 0.42, 42, 4200, doesn't really matter until you have enough decimal places on either sides of the decimal point (but you need to). Block reward (relatively to the max coins) and diff retarget plan are more important. But still not really effective in practice. |
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Zombie123
Legendary
Offline
Activity: 868
Merit: 1000
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January 15, 2014, 06:04:34 PM |
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This coin has almost the best difficulty target I have seen. It like an art. Look at other "Rare" coins RPC and CAT etc they are almost dead and want to fork
This coin is beautifully created
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StewartJ
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January 15, 2014, 06:04:57 PM |
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I just joined this coin and this forum today.
Tried to browse all pages from the start but had to give it up when my eyes started turning bug-eyed..
I like the idea - but fail to understand what will happen after 1 year when all 42 coins are mined..?
How can it keep value - and how will it circulate..?
Its rarity is its value. It hopefully will be traded in the future as a currency. I view 42 as a commodity, (like Bitcoin and Litecoin really are), but even more so because there are only 42 coins. Not so sure about that rarity when there are 42,000,000,000 coins to be mined. Only they are called Dents... (sorry if I missed/added few zeros) We are not talking about billions of Doge Coins here... do you know how hard it is to mine just one 42 coin? His argument is valid in my opinion. Technically, it's just a floating point number. 0.42, 42, 4200, doesn't really matter until you have enough decimal places on either sides of the decimal point (but you need to). Block reward (relatively to the max coins) and diff retarget plan are more important. But still not really effective in practice. The main Dev Hendo was interviewed about the 42 Coin: http://www.businessinsider.com/introducing-42coin-2014-1Might shed some more light on it for you. |
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janos666
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January 15, 2014, 06:06:59 PM |
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This coin has almost the best difficulty target I have seen. It like an art. Look at other "Rare" coins RPC and CAT etc they are almost dead and want to fork
This coin is beautifully created
I lost at least 1 BTC on CAT, so I surely know. I put the remains into this coin, so I don't say it does not look better to me. However, I don't think this coin is perfect. Moreover, I think I already see the usual signs of a regular coin death here. But it's too early to tell. There is still hope. |
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coinpool_de
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January 15, 2014, 06:07:52 PM |
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This coin has almost the best difficulty target I have seen. It like an art. Look at other "Rare" coins RPC and CAT etc they are almost dead and want to fork
This coin is beautifully created
I lost at least 1 BTC on CAT, so I surely know. I put the rest into this coin, so I don't say it does not look better. However, I don't think this coin is perfect. Moreover, I think I already see the usual signs of a regular coin death here. But it's too early to tell. i lost 7 BTC with Doge... :-( |
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RidDleZ33
Newbie
Offline
Activity: 10
Merit: 0
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January 15, 2014, 06:11:52 PM |
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Hello guys, if you mined on http://42.happyminers.net you may have noticed the server upgrade happened on 14 January 2014. I thought I lost all my balance, so I sent support requests, later a PM, etc. Further investigations seem to prove that balances may not have been transferred to the new server, me and another user found our old balances accessing the old server via http://s2.happyminers.net, but it seems we are still unable to withdraw. I had no response so far from the pool admin. If you mined there before 14 January 2014, I'd say to have a look if you have some locked coins too. http://s2.happyminers.net"Long" story in a short thread: https://bitcointalk.org/index.php?topic=415069.0NICE! I didn't even think of that. I'll try to withdraw mine now. |
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brokedummy
Legendary
Offline
Activity: 980
Merit: 1004
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January 15, 2014, 06:15:48 PM |
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Predictions for when price will spike? At the end of the day it matters how much money is pumped into it, not really the ratio/rarity.
I'm expecting the down trend to continue for a while. I'm still holding my dents though. I figure a lot of people don't understand what they bought into and will sell soon looking at the chart. Shortsighted miners will continue to autosell. I'm just setting a few buy orders and forgetting about it for a while. Start looking for the copycats and mine them a few days before I can't anymore. I hope we can donate some of our riches to help the environment, all these fast switching diff coins, that I'm sure will spring up, are going to waste a lot of energy. |
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Audity
Member
Offline
Activity: 81
Merit: 100
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January 15, 2014, 06:17:03 PM |
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I had 15btc worth of dogecoin at Christmas but refused to sell for some ungodly reason.
Now I'm sitting in RPC with barely 2.5btc.
Beat that shit.
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Support your favorite new cryptos. Trade at Cryptsy, the most well known clusterfuck of success. |
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ycsi
Member
Offline
Activity: 84
Merit: 10
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January 15, 2014, 06:22:56 PM |
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I just joined this coin and this forum today.
Tried to browse all pages from the start but had to give it up when my eyes started turning bug-eyed..
I like the idea - but fail to understand what will happen after 1 year when all 42 coins are mined..?
How can it keep value - and how will it circulate..?
Its rarity is its value. It hopefully will be traded in the future as a currency. I view 42 as a commodity, (like Bitcoin and Litecoin really are), but even more so because there are only 42 coins. Not so sure about that rarity when there are 42,000,000,000 coins to be mined. Only they are called Dents... (sorry if I missed/added few zeros) We are not talking about billions of Doge Coins here... do you know how hard it is to mine just one 42 coin? I know, it almost as hard as mining 1000 BTC (if you can compare that way), yet it's easy to mine 1 Dent. |
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brokedummy
Legendary
Offline
Activity: 980
Merit: 1004
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January 15, 2014, 06:39:57 PM |
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Hey now, Some of us have trouble mining one dent right now. The diff retarget and the fact a dent is not divisible makes the coin more rare and harder to mine.
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Coin-Moron
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January 15, 2014, 06:54:05 PM |
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2. Difficulty adjustments - Mere 7.5 minutes
Since the difficulty gets adjusted so rapidly, the pump and dump syndrome by certain profitability mining multiple pools gets evaded.
Thus the rarity of the coin remains intact.
But bitcoin and litecoin coin's difficulty adjustments takes many days to get adjusted thus a lots of mining power are wasted abruptly.
3. We all know that Bitcoin and Litecoin has been mined in millions and only those whales who pre-mined them are controlling the market prices.
So, when these hoarders dump their coins, the market crashes lethally.
Thus we are in a position to get behind some new alternatives so save ourselves from this volatile market.
Yet it is happening right now. I don't think the diff retarget system really matters. Some multipools will always think they can milk profit from this coin, so even if they fail to actually realize their expected profit, they will try regardless. And that is what really matters. I don't see a difference here. Do you know who owns most of the traded 42 coins right now? Are you sure about the traded amount? Obviously the multipools are trading around with it and the real passionate miners are just holding and waiting for their moment. |
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Jude Austin
Legendary
Offline
Activity: 1140
Merit: 1000
The Real Jude Austin
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January 15, 2014, 06:58:30 PM |
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Passionate miners use P2Pool.org to mine 42.
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Buy or sell $100 of Crypto and get $10! |
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Coin-Moron
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January 15, 2014, 07:02:25 PM |
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Hey folks,
Just get registered in poolwarz.
Mine with ease.
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bullus
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January 15, 2014, 07:03:27 PM |
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Why can't I login at 42.pooljunkie.nl? Also don't get payed all for several hours..
.. why oh why
"All accounts are set to anonymous due to massive brute force atempts into the accounts. If you don't want that; disable it in your account. USE STRONG UNIQUE PASSWORDS. A cayne pool database was stolen and hackers are abusing this on all pools. LOGIN WITH YOUR EMAIL ADDRESS; NOT YOUR USERNAME" Thanks, didn't noticed on my moblie that it was change to login with email addres. All is still good. @ dedicatedpool Is it possible to change the minimum tresshold? Cause it is set too high, 0.00001 i think. |
btc 16LWhms487bzCxQWq5oeW8SMDPmU2rvQjf
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AltCurrency
Member
Offline
Activity: 98
Merit: 10
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January 15, 2014, 07:05:55 PM |
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OMG HUGE SPIKE AT CRYPTSY FOR 42!!
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