ny2cafuse
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Activity: 1582
Merit: 1002
HODL for life.
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April 23, 2014, 03:54:19 AM |
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Eventually ASIC tech will be out there that will concentrate A LOT of hash in VERY FEW HANDS, and then we will be back to square one (central bank).
The best hope is an ALGO that adapts to the hash and responds by scaling the amount of RAM required to run the algo to prevent a central power from dumping a billion dollars into a chip that can match the hash of the entire network for 100watts.
How? Who is developing this all mighty ASIC tech? And what is to stop them from doing the same thing to any other algorithm? Memory is dirt cheap. Memory was supposed to be the reason ASICs couldn't mine scrypt. Oops. Bitcoin is open source and it uses protocol SHA256. Anybody is free to develop their own ASIC or new crazy futuristic chip to mine on the network. That is what an open market means. Changing the algorithm just sets the game back a few years so you and and a handful of others can hold onto your obsolete technology. I don't understand, what the point of a decentralized currency is then, if we are simply to hand it over to a centralized authority all over again? it would simply endup as another FIAT system where the 1% have complete control of the network and thus the ledger and ability to edit the ledger at will. I already Have ASICS and I am anti ASIC I have 20MH in ASICS, and about 32 MH in GPUS, MY GPUS STILL PULL IN MORE$$$ than my ASICS so I don't really care much about the current state of ASICS, its more a philosophical issue for me than money, since i don't need the money. All i am saying is, atleast for me, I have my ASICS ON POTCOINS and I use those asics to mine coins I pretty much intend to dump (because of the low kw/cost). The coins I mine with GPUS, I really don't dump as often and I SEE THE GPU COINS HOLDING MORE VALUE. EVERYTIME there is a slight run in the price of any ASIC coin i mine, I am forced to dump, as I KNOW that once it breaches a threshold of $$$/perKW invested, everyone else will ALSO DUMP. which means ASICS put a HARD-CAP on the price any normal scrypt coin could ever reach (a % above KW invested). GPU coins have better scarcity, hold more value and are more decentralized. to me thats a win, win, win, and IMO they are more resistant to 51% attacks in general and they are more multipool resistant due to the fact that each rig needs a bit more special attention to maintain. The best coin in 2014~2020, WILL BE the coin that manages to fuse the best decentralization strategy, with the best marketing strategy. Thats the coin I want to be invested in with my KW/H$ for the long-term. Potcoin has potential on the marketing front, which is why I hold about 50% of what I mine. ASICs =/= Centralization. If you don't believe that, you should take a look at a thing called Bitcoin. CPU -> GPU -> FPGA -> ASIC, with most of that happening in the last year and a half. Bitcoin is no less decentralized now than it was when it started... especially now that we got rid of that cancerous GOX. All ASICs are going to do is strengthen the blockchain of a coin. We could only be as lucky as to have all the POT miners keeping the blockchain secure and strong with ASICs. -Fuse |
Community > Devs
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dwolfx
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April 23, 2014, 04:04:28 AM
Last edit: April 23, 2014, 04:15:18 AM by dwolfx |
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In all these posts about how to make this coin successful with it's technology, I'm not reading something like... I can't buy anything but Bitcoin with Potcoin (excluding other crypto), but I can buy goods and services with Bitcoin. Why bother with Potcoin if it can't be used as a currency? This will be answered with "well, when it matures and the community promotes it and we get retailers to start accepting it...". Not seeing that but plenty about SHA, Scrypt, this pool, that exchange. Nothing about this or that retailer/service accepting Potcoin. Again, why bother when Bitcoin is already the standard and being used?
That kind of talk spooks people, thats why no one brings it up  In order for people to use potcoin instead of bitcoin its going to have to be able to do things that Bitcoin can't do. People need to see real advantages to alt coins in order to use them instead of the exit currency (bitcoin) directly. Why should people jump through hoops to cash out and pay their expenses? The only reason a dispensary would use PotCoin is if the marketing is strong enough to where they would think that potcoin would bring them more business than using bitcoin. So essentially you have these options: -Improve technology -Improve marketing/usership -Improve features to give people incentive to use Pot over BTC. -All of the above Until that happens, All alt coins will just be about as useful as trading cards, people trade for whatever coins they think have the best prospects, and thats why its important to have discussions on how to improve the coins you are rooting for, because if you dont have those discussions, then nothing gets done and you endup with a stagnant coin. The best thing you can do for the future of a coin is point out its flaws and help correct them. Marketing works great, but it doesn't work miracles. If I had to pick ONE/few thing to put all the focus on to make potcoin a success: Point of Sales system development combined with heavy marketing campaigns. Everyone should pool funds together to develop something BETTER than an ATM you need a complete point of sales system and some kind of way to exit to fiat without the use of BTC (Pot/USD) Online (so that the volume is there to support the transactions that people want to perform). I think the potcoin community is more than ready to face those challenges, recent progress is proof enough. |
Leetpools!
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omahapoker
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April 23, 2014, 04:28:20 AM |
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first thing you guys gotta do is fix the wallet. I still can't sync .
get the wallet working so ai 85 year old can download it during diaper change.
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anyone4u
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April 23, 2014, 05:25:49 AM |
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Exchange Presence - The short side to Potcoin is its acceptance on exchanges and the lack of merchant support for what the coin was intended. Due to the technicalities of regulations within the U.S. law, Potcoin remains just another well marketed crypto-currency, rather then being used to buy marijuana.
Coins Source’s Outlook - The real strength behind Pot is its community support. The ability to market Pot and acquire some value from marijuana remains favorable. In the meantime, the value of Potcoin remains negative on the markets, with no future growth foreseen. The moment Potcoin can be used to purchased the real stuff is the day it will see significant value on the markets. Until then, we should all enjoy that little 420 (block) reward everyday. http://www.coinssource.com/crypto-coins/potcoin/I am assuming this was written before we got our atm's which will be hopefully set up to be used later this week. Also we are getting more atm's and more pos in stores/dispensaries soon. |
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angryacorn
Member
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Activity: 112
Merit: 10
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April 23, 2014, 09:01:50 AM
Last edit: April 23, 2014, 11:05:27 AM by angryacorn |
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anyone4u
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April 23, 2014, 11:38:38 AM |
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wtf dis sht difficulty 140.03 and holding steady for a while now?
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suremine
Newbie
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Activity: 25
Merit: 0
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April 23, 2014, 11:44:50 AM |
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Yep something strange going on, am going through the logs on my potcoind to see if I can spot anything out of the ordinary.
Blocktime is also at 9mins ?
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suremine
Newbie
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Activity: 25
Merit: 0
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April 23, 2014, 11:58:00 AM |
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OK this is my theory, looking at my potcoind logs at around 11:20GMT we have 30 blocks all accepted within 3 mins, the result of that knocked the diff way up ..... and we are still waiting for it to recover.
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anyone4u
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April 23, 2014, 12:02:33 PM |
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OK this is my theory, looking at my potcoind logs at around 11:20GMT we have 30 blocks all accepted within 3 mins, the result of that knocked the diff way up ..... and we are still waiting for it to recover.
See here:i can't explain it and am trying to figure out why this is all block after orphaned are unconfirmed and why they get orphaned? 2932 2014-04-23 11:34:02 Credit Unconfirmed 196781 1.68617352 2856 2014-04-23 11:00:03 Credit Unconfirmed 196740 3.63813799 2817 2014-04-23 10:10:04 Credit Unconfirmed 196708 7.44090005 2772 2014-04-23 08:48:02 Credit Orphaned 196579 2.44060202 |
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suremine
Newbie
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Activity: 25
Merit: 0
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April 23, 2014, 12:07:05 PM |
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The unconfirmed should get confirmed, its just that the difficulty is high so blocks are taking longer and confirmation are linked to a number of blocks.
Can anyone verify that? I could be wrong
As for the orphaned, I think they are just orphaned.
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anyone4u
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April 23, 2014, 12:09:47 PM |
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I was told like this is it lil bit ago:
Sta-POT (7 minutes ago):
An orphan is when someone on the network finds the block at exactly the same time, or I should say a few milliseconds faster than us...
Sta-POT (6 minutes ago):
so it becomes orphan for us and confirmed for them.
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SuperSta
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April 23, 2014, 12:10:34 PM |
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when did they implement KGW? where is the warning? Is there another thread, a post or some other notification of the update occurring?
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anyone4u
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April 23, 2014, 12:11:52 PM |
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back to normal almost yeah!
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anyone4u
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April 23, 2014, 12:12:53 PM |
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when did they implement KGW? where is the warning? Is there another thread, a post or some other notification of the update occurring?
way back in the thread somewhere there was a 2 day warning, it was basically an emergency immediate fix or further warning may have been given. |
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suremine
Newbie
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Activity: 25
Merit: 0
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April 23, 2014, 12:14:03 PM |
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OK this is my theory, looking at my potcoind logs at around 11:20GMT we have 30 blocks all accepted within 3 mins, the result of that knocked the diff way up ..... and we are still waiting for it to recover.
Blocks are now being acepted again, my pool ( https://pot.suremine.com ) has just processed a block. I think the difficulty may rise again as I saw a whole bunch of blocks get processed at roughly the same time, but hopefully things should start settling down again. |
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Chronikka
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April 23, 2014, 12:32:28 PM |
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OK this is my theory, looking at my potcoind logs at around 11:20GMT we have 30 blocks all accepted within 3 mins, the result of that knocked the diff way up ..... and we are still waiting for it to recover.
Blocks are now being acepted again, my pool ( https://pot.suremine.com ) has just processed a block. I think the difficulty may rise again as I saw a whole bunch of blocks get processed at roughly the same time, but hopefully things should start settling down again. A multipool may have jumped onto Pot briefly, Solved a bunch of a blocks and jumped off when KGW kicked in. That would cause the difficulty to jump up briefly |
"The true sign of intelligence is not knowledge but imagination" -Albert Einstein
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anyone4u
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April 23, 2014, 12:39:06 PM |
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OK this is my theory, looking at my potcoind logs at around 11:20GMT we have 30 blocks all accepted within 3 mins, the result of that knocked the diff way up ..... and we are still waiting for it to recover.
Blocks are now being acepted again, my pool ( https://pot.suremine.com ) has just processed a block. I think the difficulty may rise again as I saw a whole bunch of blocks get processed at roughly the same time, but hopefully things should start settling down again. A multipool may have jumped onto Pot briefly, Solved a bunch of a blocks and jumped off when KGW kicked in. That would cause the difficulty to jump up briefly look at the pic I took! notice difficulty 1.18: 8:08 56 1.6 8:09 21 time wtf? http://s27.postimg.org/vj2qz37cy/diff.jpgpic is from leetpools |
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