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Author Topic: SolidCoin v2.0 features new hashing algorithm, faster on CPUs  (Read 11105 times)
Lolcust
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September 28, 2011, 04:11:28 PM
 #141

I certainly don't trust Lolcust as far as I can throw him. Pre-mining 7 million coins and keeping them all for himself is an obvious attempt to get rich and get out, much like ixcoin and iocoin were

Unlike the "Sovereign bonds" mined with other people's electricity, which are certainly not being kept to oneself  (that is, aren't under control of a single person)  amrite? There is a crypto-secure voting of all the miners in place, like a kind of democratic internet state, amrite ? Wink

Nope, just a "coinage Superfund" not unlike mine, only mined on other people's hardware and scaling up as amount of miners grows (and as necessity for further "protecshun expenditures" diminishes). Of all the people, you, as a "sovereign bond intertube pseudo-state" supporter, should refrain from throwing stones (or bricks) due to your glass house being exceptionally thin Wink


"It doesn't affect the economy if I never sell them!!!"

Do you claim existence of magical action at a distance ?

 

Geist Geld, the experimental cryptocurrency, is ready for yet another SolidCoin collapse Wink

Feed the Lolcust!
NMC: N6YQFkH9Gn9CTm4mpGwuLB5zLzqWTWFw67
BTC: 15F8xbgRBA1XZ4hmtdFDUasroa2A5rYg8M
GEG: gK5Lx6ypWgr69Gw9yGzE6dsA7kcuCRZRK
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Lolcust
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September 28, 2011, 04:22:21 PM
 #142

And what's the difference between 1m premined w/tax vs 7m premined w/o tax?

1) 7 mil premined with out tax is premined by using the premining person's electricity, which is paid for by preminer's fiat moneys

2) The pseudo-tax system relies on electricity not paid for by CH's fiat moneys to generate the blocks the part of which contributes to "Sovereign Bonds" protecshun scheme.

No matter what clever verbiage and accounting metaphors one uses, it is essentially mining your coins on other people's hardware and electricity.

3) 7 Mils occupy 1 block in the chain. Protecshun scheme cuts itself a happy transaction in every single block, forever.

4) Relative hypothetical influence of 7 mil Superfund will slowly fade away as coinbase grows, assuming no spending at all

Relative hypothetical influence of "protecshun scheme" fund  remains static relative to overall base (since it is a fixed cut out of every miner at every block), assuming no spending at all

Tell what you want about CH, but you have to admit that there is a lot of difference (I especially like the "remains static in relation to coin mass, forever" part, but the "coins are generated by other people and given to CH" is nice too. Cuts down on electricity bill. CH's electricity bill.)

Geist Geld, the experimental cryptocurrency, is ready for yet another SolidCoin collapse Wink

Feed the Lolcust!
NMC: N6YQFkH9Gn9CTm4mpGwuLB5zLzqWTWFw67
BTC: 15F8xbgRBA1XZ4hmtdFDUasroa2A5rYg8M
GEG: gK5Lx6ypWgr69Gw9yGzE6dsA7kcuCRZRK
johnj
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September 28, 2011, 04:31:22 PM
 #143

ahh yeah, I guess the tax system with scamcoin 2 does create (in theory) an infinite amount of coins at the miners expense.

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Lolcust
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September 28, 2011, 04:40:05 PM
 #144

Yup.

HE HOLDS KEYS TO INFINITY IN HIS GRASSSSSSP! Cheesy


P.S.: Not really. Typical bitcoin-like design cannot into more that 130-something billions of coins, so no infinity for him, for now.

Geist Geld, the experimental cryptocurrency, is ready for yet another SolidCoin collapse Wink

Feed the Lolcust!
NMC: N6YQFkH9Gn9CTm4mpGwuLB5zLzqWTWFw67
BTC: 15F8xbgRBA1XZ4hmtdFDUasroa2A5rYg8M
GEG: gK5Lx6ypWgr69Gw9yGzE6dsA7kcuCRZRK
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