Bitcoin Forum
December 15, 2017, 11:18:17 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Most *profitable* cryptocurrency idea!  (Read 715 times)
ddumoh
Member
**
Offline Offline

Activity: 84


View Profile
February 19, 2014, 10:02:57 PM
 #1

Hi guys!
I've an idea for new most profitable coin!

So, we all know that basicly net hashrate associated with profitability and stability of crypto.
And I've a pretty plan how to make the biggest hashrate for new crypto currency.

Lets say that we have new crypto currency that have already been added to some exchanges.
And I can offer easy algorythm of difficulty retarget for this coin just to make it have biggest hashrate and most profitable.
It's simple:
on each difficulty retargetting one thing that algorythm have to do - take statistics such as coinwarz and change mining difficulty so that our new altcoin becomes the most profitable to mine - very simple!

it's not of necessity to take all crypto statistics - we could take only some major altcoins for example(scrypt) we can take litecoin, dogecoin, worldcoin... and make change of difficulty just to have better mining.
Thus we could make the most stable, most hashrate powerful and most profitable altcoin

So, what do you think guys about ProfitCoin!?
There are several different types of Bitcoin clients. EWallets are like banks -- a central organization has complete control over your money. You shouldn't put much money in EWallets.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513336697
Hero Member
*
Offline Offline

Posts: 1513336697

View Profile Personal Message (Offline)

Ignore
1513336697
Reply with quote  #2

1513336697
Report to moderator
1513336697
Hero Member
*
Offline Offline

Posts: 1513336697

View Profile Personal Message (Offline)

Ignore
1513336697
Reply with quote  #2

1513336697
Report to moderator
1513336697
Hero Member
*
Offline Offline

Posts: 1513336697

View Profile Personal Message (Offline)

Ignore
1513336697
Reply with quote  #2

1513336697
Report to moderator
nobodysbusiness
Full Member
***
Offline Offline

Activity: 126


View Profile
February 20, 2014, 12:09:25 AM
 #2

If you had a certain price on exchanges (let's say $0.50 USD per coin), and you wanted to increase the profitability of this coin, you'd have to increase the reward so that people could mine more with a given hashrate. This would mean that your coin's network would have to be producing more coins overall. Your miners (in the short-term) could then sell these coins for $0.50 each and make more money, but people would quickly wise-up and realize that the coins are not as rare as they were before, and the price on exchanges would plummet.

Sorry. Correct me if I'm wrong, but I don't think that this is a workable idea.
CryptoCaptain
Newbie
*
Offline Offline

Activity: 19


View Profile WWW
February 20, 2014, 12:45:40 AM
 #3

The poster above me is correct, an additional problem is with this idea you have to trust coinwarz or wherever you're getting these statistics, and if that web site were down when you tried to retarget, what would happen?

The whole idea of a crypto-coin is that there is no central server to take out, and you never have to trust anyone. Once you start requiring trust in a particular site or server, you just have an easier to scam, less reliable FED.

Here thar be dogecoins! Mine with the cap'n at www.CaptainDoge.com
Spy our first booty! (http://i.imgur.com/m7CmnBV.png)
Join our crew! (https://www.captaindoge.com/index.php?page=gettingstarted)
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!