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Author Topic: bitcoin vs solidcoin  (Read 18203 times)
metalmadnesstv
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September 01, 2011, 06:41:08 PM
 #1

ok so there is a mini war going on.....

who is going to win

or can both currencies get along side by side ?

let me know what you think

#warofthecoins #virtualcurrencywar #onlinecoinwars #coinwars #bitcoin #solidcoin

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September 01, 2011, 09:22:20 PM
 #2

The tragedy of these forks is that they're trying to bleed off a few hundred or thousand devotees from a small segment of the tiniest corner of the most marginalized and obscure offshoot of the almost fractally invisible group of geeks and libertarians... and they don't even seem to realize it. Bitcoin just barely has enough people to sustain what bare and sparse economic activity we have. There's not enough to go around for all these forks. I guess the long-term strategy is to eventually convert the entire bitcoin userbase to their own version.

That's fine with me. May the best cryptocurrency win. Problem is, I don't see how solidcoin can attract anyone who is actually worth having. Most people who contribute something significant are already invested in bitcoin (and I mean emotionally, not financially here). Speculators will be attracted to solidcoin but since they don't actually do anything, nobody cares.

Reading those hyperbolic posts the solidcoin folks make on their website really turns me off, though. Have a tiny bit of self-respect, will you? If your clone is good enough it's good enough, nobody is listening to what you have to say about bitcoin, believe me.
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September 01, 2011, 09:41:49 PM
 #3

The tragedy of these forks is that they're trying to bleed off a few hundred or thousand devotees from a small segment of the tiniest corner of the most marginalized and obscure offshoot of the almost fractally invisible group of geeks and libertarians... and they don't even seem to realize it. Bitcoin just barely has enough people to sustain what bare and sparse economic activity we have. There's not enough to go around for all these forks. I guess the long-term strategy is to eventually convert the entire bitcoin userbase to their own version.

That's fine with me. May the best cryptocurrency win. Problem is, I don't see how solidcoin can attract anyone who is actually worth having. Most people who contribute something significant are already invested in bitcoin (and I mean emotionally, not financially here). Speculators will be attracted to solidcoin but since they don't actually do anything, nobody cares.

Reading those hyperbolic posts the solidcoin folks make on their website really turns me off, though. Have a tiny bit of self-respect, will you? If your clone is good enough it's good enough, nobody is listening to what you have to say about bitcoin, believe me.

Agreed. Replacing Bitcoin will require the new protocol to be better by a wide margin, and obviously so.

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ctoon6
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September 01, 2011, 10:43:27 PM
 #4

i believe in bitcoin, and i also agree we need to revamp the system. i like how it is for the most part, the only things i would change if i could would be

make gpu mining impossible (in reality, it centralizes bitcoin because a gpu can be easily scaled, id propose a proof of work system that is more serial than it is parallel. because bitcoin is sopose to be a medium of exchange, not a hoarding system or make money from simply using electricity.)
give 1000 coins per 5 minutes, until 500m exist, pruned coins will be added as a reward, so 500m will always exist
keep only 100k blocks, prune blocks, once you reach 100k, for every block that is made, one is destroyed. this also means you must trust somebody inside the network to give you a block to start with.
5 minute targets (some people fail to realize that once your transaction is in a block, rules for accepting coins in "limbo" no longer apply. if you want the same security then wait the 10 minutes and stop complaining, if you want me to write up a full description, just say and ill explain my reasoning)

FlipPro
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September 01, 2011, 10:57:24 PM
 #5

i believe in bitcoin, and i also agree we need to revamp the system. i like how it is for the most part, the only things i would change if i could would be

make gpu mining impossible (in reality, it centralizes bitcoin because a gpu can be easily scaled, id propose a proof of work system that is more serial than it is parallel. because bitcoin is sopose to be a medium of exchange, not a hoarding system or make money from simply using electricity.)
give 1000 coins per 5 minutes, until 500m exist, pruned coins will be added as a reward, so 500m will always exist
keep only 100k blocks, prune blocks, once you reach 100k, for every block that is made, one is destroyed. this also means you must trust somebody inside the network to give you a block to start with.
5 minute targets (some people fail to realize that once your transaction is in a block, rules for accepting coins in "limbo" no longer apply. if you want the same security then wait the 10 minutes and stop complaining, if you want me to write up a full description, just say and ill explain my reasoning)

I like some of your ideas. We need more coins over all. 21,000,000 just isn't "enough" to go around lol

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ctoon6
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September 01, 2011, 11:04:05 PM
 #6

i believe in bitcoin, and i also agree we need to revamp the system. i like how it is for the most part, the only things i would change if i could would be

make gpu mining impossible (in reality, it centralizes bitcoin because a gpu can be easily scaled, id propose a proof of work system that is more serial than it is parallel. because bitcoin is sopose to be a medium of exchange, not a hoarding system or make money from simply using electricity.)
give 1000 coins per 5 minutes, until 500m exist, pruned coins will be added as a reward, so 500m will always exist
keep only 100k blocks, prune blocks, once you reach 100k, for every block that is made, one is destroyed. this also means you must trust somebody inside the network to give you a block to start with.
5 minute targets (some people fail to realize that once your transaction is in a block, rules for accepting coins in "limbo" no longer apply. if you want the same security then wait the 10 minutes and stop complaining, if you want me to write up a full description, just say and ill explain my reasoning)

I like some of your ideas. We need more coins over all. 21,000,000 just isn't "enough" to go around lol

technically, you could have like 2,100,000,000,000,000 "coins", right now i think there is only $56T cash i believe, thats BTC2.1Q, a quadrillion is a 1 and 15 0's

The Electric Monk
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September 01, 2011, 11:08:10 PM
 #7

The tragedy of these forks is that they're trying to bleed off a few hundred or thousand devotees from a small segment of the tiniest corner of the most marginalized and obscure offshoot of the almost fractally invisible group of geeks and libertarians... and they don't even seem to realize it. Bitcoin just barely has enough people to sustain what bare and sparse economic activity we have. There's not enough to go around for all these forks. I guess the long-term strategy is to eventually convert the entire bitcoin userbase to their own version.

That's fine with me. May the best cryptocurrency win. Problem is, I don't see how solidcoin can attract anyone who is actually worth having. Most people who contribute something significant are already invested in bitcoin (and I mean emotionally, not financially here). Speculators will be attracted to solidcoin but since they don't actually do anything, nobody cares.

Reading those hyperbolic posts the solidcoin folks make on their website really turns me off, though. Have a tiny bit of self-respect, will you? If your clone is good enough it's good enough, nobody is listening to what you have to say about bitcoin, believe me.

Hey, I'm new, and I'm here because I heard about Solidcoin.  I'm not sure if I'm "worth having" but for what it's worth I don't agree with the negative postings about BTC made by one of the SC organizers.  I told them that.

As you pointed out, there's limited interest in BTC right now, but don't think keeping things the same is going to lead to rampant, wide acceptence.  Both chains could be improved and probably replaced by something faster and more user friendly.  I'm currently trying to promote both BTC and SC as I belong to some communities where I think people would find them ideal for their transactions.
Noviz
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September 01, 2011, 11:47:16 PM
 #8

The tragedy of these forks is that they're trying to bleed off a few hundred or thousand devotees from a small segment of the tiniest corner of the most marginalized and obscure offshoot of the almost fractally invisible group of geeks and libertarians... and they don't even seem to realize it. Bitcoin just barely has enough people to sustain what bare and sparse economic activity we have. There's not enough to go around for all these forks. I guess the long-term strategy is to eventually convert the entire bitcoin userbase to their own version.

That's fine with me. May the best cryptocurrency win. Problem is, I don't see how solidcoin can attract anyone who is actually worth having. Most people who contribute something significant are already invested in bitcoin (and I mean emotionally, not financially here). Speculators will be attracted to solidcoin but since they don't actually do anything, nobody cares.

Reading those hyperbolic posts the solidcoin folks make on their website really turns me off, though. Have a tiny bit of self-respect, will you? If your clone is good enough it's good enough, nobody is listening to what you have to say about bitcoin, believe me.

Well I dropped my full 60 GH/s farm on SC since it started. Solid Coin consistently stays between 1.1 to 2.4 times more profitable to mine than BTC.

You're acting like 95% of the people that are in Bitcoin aren't here for pure unadulterated profit! I have no problem admitting it. I could careless about Bitcoin or any digital currency.

Ixcoin, I0coin, Shitcoin, Schmitcoin or Bitcoin has a ZERO future period unless instant transfer becomes a reality.

I'm just thankfull that Magical Tux has created the "Magic The Gathering of Dumbasses" that will part with USD for it. LOL!!!!


I love your honesty, it was quite refreshing Smiley

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TwistedPair
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September 02, 2011, 12:15:07 AM
 #9


Well I dropped my full 60 GH/s farm on SC since it started. Solid Coin consistently stays between 1.1 to 2.4 times more profitable to mine than BTC.

You're acting like 95% of the people that are in Bitcoin aren't here for pure unadulterated profit! I have no problem admitting it. I could careless about Bitcoin or any digital currency.

Ixcoin, I0coin, Shitcoin, Schmitcoin or Bitcoin has a ZERO future period unless instant transfer becomes a reality.

I'm just thankfull that Magical Tux has created the "Magic The Gathering of Dumbasses" that will part with USD for it. LOL!!!!


It appears to me that investing in a 60GH/s farm makes you heavily invested in *coins success. So I'd say you care. A lot.

There are plenty of technical ways to get around instant transfers (which are being worked on), so that argument doesn't really hold.
Also, only a fraction of transactions need to be realtime. A 10 minutes to 1 hour or more delay is acceptable for many ecommerce purposes for example.

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Litt
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September 02, 2011, 12:27:30 AM
 #10

Solidcoin/"shitcoins" = infiltration and division of bitcoin network. If you are indifferent about this, you never understood bitcoin.
Fakeman
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September 02, 2011, 12:32:41 AM
 #11

Like the video format wars, this may well get decided by which format sees widespread adoption by the porn industry first. People by and large are not looking looking for an alternative to the better known payment options for ordinary purchases, especially not a slower alternative that subjects users to volatile exchange rates. On the other hand, users looking for a degree of privacy may be willing to overlook those shortcomings. Silk Road is the best known example of that type of thing, but a pseudo-anonymous currency can only do so much to keep you out of jail so the appeal is limited.

Since Bitcoin hasn't really transformed its lead into a thriving 'real' economy so far, it's still anyone's game. Faster (ok, less slow) confirmations, a reasonably easy to pronounce name and minimal early adopter/political wacko baggage may be all it takes to attract significant amounts of real business and become the new de facto standard. After that, the features may not make as much of a difference. Beta didn't make a comeback once it caught up in recording time, even though picture quality was always better than VHS.

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September 02, 2011, 12:37:28 AM
 #12

Double-spend detection is the only real answer to speeding up trust in Bitcoin transactions, not decreasing block time like Solidcoin has.  There are at least two ways that it could be implemented:

1) Listening nodes (http://bitcointalk.org/?topic=423.msg3819#msg3819)
2) Querying mining pools (https://bitcointalk.org/index.php?topic=40264.msg494150#msg494150). A less rigorous version of option 1 that focuses on tracking estimated total hashing power working on a given unconfirmed transaction

The methods could be combined. Of course there's also the option of building true instant transaction layers on top of bitcoin like MtGox and Open Transactions servers.  Double-spend detection, as originally envisioned by Satoshi, would also largely neutralize any problems arising out of sudden drops in Bitcoin hashing power.

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ElectricMucus
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September 02, 2011, 01:19:03 AM
 #13

The forks are just an act of desperation because gpu mining has become unprofitable and speculators know that fpga & co are just around the corner.
Price is down, people are delirious and think they can flee to the forks, but they'll sit on their gpu rigs nevertheless... well it's gonna happen  Tongue

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September 02, 2011, 01:24:09 AM
 #14

The forks are just an act of desperation because gpu mining has become unprofitable and speculators know that fpga & co are just around the corner.
Price is down, people are delirious and think they can flee to the forks, but they'll sit on their gpu rigs nevertheless... well it's gonna happen  Tongue
Your dreaming if you think affordable fpga boards are "just around the corner"

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September 02, 2011, 01:33:01 AM
 #15

The forks are just an act of desperation because gpu mining has become unprofitable and speculators know that fpga & co are just around the corner.
Price is down, people are delirious and think they can flee to the forks, but they'll sit on their gpu rigs nevertheless... well it's gonna happen  Tongue
Your dreaming if you think affordable fpga boards are "just around the corner"
https://bitcointalk.org/index.php?topic=37904.0
https://bitcointalk.org/index.php?topic=40047.0 <-read 'higher volumes'


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September 02, 2011, 02:00:41 AM
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Your dreaming if you think affordable fpga boards are "just around the corner"
https://bitcointalk.org/index.php?topic=37904.0
https://bitcointalk.org/index.php?topic=40047.0 <-read 'higher volumes'
FPGAs are about 5 times as costly as GPUs. That's a long way from affordable.

Buy & Hold
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September 02, 2011, 02:03:00 AM
 #17

Quote
The forks are just an act of desperation because gpu mining has become unprofitable and speculators know that fpga & co are just around the corner.

And it's short-sighted. Taking the Bitcoin code, changing a couple things, and then telling every one to abandon Bitcoin for the fork, just attacks at the credibility of the currency's function as a store of value, and therefore the value of p2p currency in general.
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September 02, 2011, 02:03:37 AM
 #18

Your dreaming if you think affordable fpga boards are "just around the corner"
https://bitcointalk.org/index.php?topic=37904.0
https://bitcointalk.org/index.php?topic=40047.0 <-read 'higher volumes'
FPGAs are about 5 times as costly as GPUs. That's a long way from affordable.
that's it I'm out, somebody else tell him

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September 02, 2011, 02:09:15 AM
 #19

Like the video format wars, this may well get decided by which format sees widespread adoption by the porn industry first.

I am honestly currently down with Solidcoin.  The only alternative currency to Bitcoin I like. No namecoin, ixcoin, etccoin.  Not giving up on Bitcoin, but that is only because I have more invested monetarily, but I am considering changing.

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September 02, 2011, 04:18:48 AM
 #20

Evolution is taking place before our very eyes. These forks called solidcoin/namecoin/etc are the 'random' mutations, and ultimately 'natural' selection will determine the most fit coin.

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