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Author Topic: Possbility of a switch over?  (Read 1559 times)
lightlord
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September 07, 2011, 01:58:27 AM
 #1

With recent events it turns out i0coin will be the only remaining alternate blockchain.
Namecoin goes for merged mining. Ixcoin is already dead and solidcoin got the lethal dose today.

i0coin prices are already recovering as a result  Wink


Okay there are many different forks of bitcoin; bitcoin starting first.
Solidcoin came out and was a good idea; having its 75% down; and 10% up
in difficulty adjustments. If 60% of the bitcoin network were to leave it would end up like namecoin getting less and less; but solidcoin doesn't do this; it has way fewer blocks to change difficulty, faster transactions, etc.

But many exchanges are shutting down
http://sc.btcguild.com/ Was a huge exchange had up to 500 or more giga hash.
Then https://x.ruxum.com/ shut them down as well, and https://scexchange.bitparking.com/main is not allowing them as well; all these severely crippled it.

Now there is i0coin; it copies the same rules as solidcoin; but no exchanges seem to shut it down; https://i0exchange.bitparking.com/main is working fine, etc.

Perhaps i0coin will be the successor to solidcoin; and i already invested into it.
There was a time when solidcoin was worth very little.

Right now i0coin is 0.0008; and i have 17K of i0coin.
You go back far enough there was a time when bitcoin was worth very little;
like pennies; and you could get lots for a low price; I heard of someone spending 10K of bitcoins to buy pizza 10 months ago; he must be really pissed.

Now all of them including namecoin was once extremely low; investing like 5btc would of came 500btc if invested in early.

I invested and planning on keeping for 2 months. 16btc could yeild 600btc if it goes from 0.0008 to 0.03. Remember i0coin applies the same rules as solidcoin; same difficulty adjustment; so it has a lot of potential.

I can see it replacing solidcoin in the future. And maybe i will be really rich from this.
It only takes little to invest.

Now you have to note; as a trader there are always risks; if as a trader you don't think of your potential losses you will never be a good trader. I looked on the loss side and perhaps i could lose my 15btc; to be a good trader you must look at the losses first before looking at potential gains.

I do solo mining myself as at the moment its worth 1.08X to the bitcoin in mining
http://coinotron.com/coinotron/AccountServlet?action=home
It might already be different by the time you read it.

It varies a lot; some days 1.4X some days 1.08X etc.

It seems this one can really really take off.

I already got into it set up a wallet; and got 16K of it; i was a early adopter;
anyone else doing this would still be a early adopter for a while.


 



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.BITVEST DICE.
HAS BEEN RELEASED!


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September 07, 2011, 02:56:40 AM
 #2

http://coinotron.com/coinotron/AccountServlet?action=home

i0coins are now 1.11X to the profit then mining bitcoin itself.



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.BITVEST DICE.
HAS BEEN RELEASED!


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September 07, 2011, 04:17:59 AM
 #3

Obvious "pumping" (as in, the first part of "pump & dump) aside --
(you practically admit what you're doing; at least you're honest)

I haven't heard anything about various *scamcoin chains being shut down. Is this true? Where can I read about it?

Matthew
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September 07, 2011, 11:26:29 PM
 #4

Nothing was shut down just an exchange and a pool because SolidCoin decided to change the license agreement to closed source.
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September 08, 2011, 09:11:50 AM
 #5

Nothing was shut down just an exchange and a pool because SolidCoin decided to change the license agreement to closed source.

Just the largest exchange and largest pool were shut down. No biggie.  Roll Eyes

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September 08, 2011, 02:11:53 PM
 #6

Well if you're going to take open source and make a tweak and then close-source it, not only is it illegal against the distribution, but it's shady, could be doing all sorts of things. If I was running an exchange I would have dropped it like a fly too!
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September 12, 2011, 09:24:13 PM
 #7

closed source software can sometimes hide backdoors possibly compromising security or phoning home somewhere which is why I try and use as much open source software as possible to show that these backdoors are not welcome in software as we can all see the code in open source.

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September 13, 2011, 03:05:58 PM
 #8

Why do we even need a successor to Bitcoin?  BTC has had a hard enough time catching on as it is, so I don't see how throwing more confusion and forks into the mix will help in any way.

Honestly, I think it's all just people hoping to get rich quick off of other folks.  But, please, go ahead and mine *other*coin, it'll drop the BTC difficulty for the rest of us Smiley
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September 14, 2011, 10:08:44 AM
 #9

Why do we even need a successor to Bitcoin?  BTC has had a hard enough time catching on as it is, so I don't see how throwing more confusion and forks into the mix will help in any way.

Honestly, I think it's all just people hoping to get rich quick off of other folks.  But, please, go ahead and mine *other*coin, it'll drop the BTC difficulty for the rest of us Smiley

You are 100% correct on all counts.

Most of us are here only to make money, and frankly for any profit to be made some or many will have to make a loss. At least until the cryptocurrency is finally used as an alternative to the real world currencies. Until that time, for one person to make a profit, at least one other needs to make a loss.

Frankly I am amazed we are still making money at this. I seem to be playing these cryptocurrencies as if it's the FOREX market (sort of), and doing nicely, so far.

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September 16, 2011, 03:27:52 PM
 #10

Why do we even need a successor to Bitcoin?  BTC has had a hard enough time catching on as it is, so I don't see how throwing more confusion and forks into the mix will help in any way.

Honestly, I think it's all just people hoping to get rich quick off of other folks.  But, please, go ahead and mine *other*coin, it'll drop the BTC difficulty for the rest of us Smiley

You are 100% correct on all counts.

Most of us are here only to make money, and frankly for any profit to be made some or many will have to make a loss. At least until the cryptocurrency is finally used as an alternative to the real world currencies. Until that time, for one person to make a profit, at least one other needs to make a loss.

Frankly I am amazed we are still making money at this. I seem to be playing these cryptocurrencies as if it's the FOREX market (sort of), and doing nicely, so far.

I see Bitcoin like a baby giant.  It has some strength but nothing compared to what it will have if it is nurtured and given a chance to mature.  The “I’m just here to make money” people want to put the baby in chains and work it until its dead.. it leads to schemes like pool hopping and all these alternative forks.  We have a chance to be a part of something amazing here but its future is still uncertain.  The early adopters like us have a responsibility to help Bitcoin to grow and not take advantage of these get rich quick exploits.

This is an example of the Tragedy of the commons dilemma. Where multiple individuals, acting independently and rationally consulting their own self-interest, will ultimately deplete a shared limited resource, even when it is clear that it is not in anyone's long-term interest for this to happen.
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September 16, 2011, 03:37:19 PM
 #11


I see Bitcoin like a baby giant.  It has some strength but nothing compared to what it will have if it is nurtured and given a chance to mature.  The “I’m just here to make money” people want to put the baby in chains and work it until its dead.. it leads to schemes like pool hopping and all these alternative forks.  We have a chance to be a part of something amazing here but its future is still uncertain.  The early adopters like us have a responsibility to help Bitcoin to grow and not take advantage of these get rich quick exploits.

It does need to mature in the tools needed to form an economy based on fast, easy, cheap transactions (yes, all three).

This is an example of the Tragedy of the commons dilemma. Where multiple individuals, acting independently and rationally consulting their own self-interest, will ultimately deplete a shared limited resource, even when it is clear that it is not in anyone's long-term interest for this to happen.


This doesn't really apply because hoarding does not destroy bitcoins. Bitcoin is infinitely divisible with no harm done to it. Everyone can have one [some] bitcoin eventually if hoarders trade them slowly for shiny things.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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September 16, 2011, 07:38:05 PM
 #12

This is an example of the Tragedy of the commons dilemma. Where multiple individuals, acting independently and rationally consulting their own self-interest, will ultimately deplete a shared limited resource, even when it is clear that it is not in anyone's long-term interest for this to happen.


This doesn't really apply because hoarding does not destroy bitcoins. Bitcoin is infinitely divisible with no harm done to it. Everyone can have one [some] bitcoin eventually if hoarders trade them slowly for shiny things.

I was thinking more about the various code forks or pool hopping, which divert traffic from Bitcoin itself or take advantage of ways to game the system for individual gain.  I don't see that hoarding is a problem as long as there are enough coins in active circulation to fulfill transactions.

Ooh and nice Anonymous Bob profile pict..  Smiley
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