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Author Topic: Solidcoin lost transaction  (Read 2305 times)
johnj
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October 27, 2011, 06:11:53 PM
 #21

I find is interesting/sad that people would be willing to run closed source anonymous financial software.  Some ScamCoin supporter please don't make a claim to traditional banking.  If Bank Of America steals my money I have legal rights.  They are a known entity.  I can sue them in court.  They have assets, assets they hopefully don't want to lose.

ScamCoin is backed up by no assets, no legal rights, no ability for recourse or compensation.  It is completely opaque software/network.  You simply must trust that the person in complete control never does anything wrong (either intentionally or accidentally).  That level of trust is interesting, mass suicide pack interesting.
It's all the more interesting since probably all/most TaxCoin users come from Bitcoin... How could they forget that much the reasons why they started using BTC in the first place? Alzheimer already? Just willing to go back to Paypal? (but then why not just use Paypal? It's much cheaper) Fascinating indeed.

I disagree that most SC users are former BTC users - in fact I'm willing to bet they're all new to cryptocurrency and simply just don't know better.  Except for the dozen or so that were paid 1m+ SC from the premine.

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Bobnova
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October 27, 2011, 11:54:22 PM
 #22

It's all the more interesting since probably all/most TaxCoin users come from Bitcoin... How could they forget that much the reasons why they started using BTC in the first place? Alzheimer already? Just willing to go back to Paypal? (but then why not just use Paypal? It's much cheaper) Fascinating indeed.

The vast majority of bitcoin people got into bitcoin because they can make USD mining bitcoins, they don't give a rats ass about it's "security", or anything else.
Same deal with SC, it's profitable, people mine it.  If it becomes unprofitable, they won't.
The security and transactions and wallets getting locked and all of that don't matter at all if you're converting the SC2s to BTC to USD as fast as they come in.  They're out nothing if the network crashes or RS steals everything.

Essentially, the majority of people mining all the coins don't give a shit about the future of that coin or any other coins.

BTC:  1AURXf66t7pw65NwRiKukwPq1hLSiYLqbP
johnj
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October 28, 2011, 12:16:33 AM
 #23

Looks like they may be having new issues

http://imgur.com/a/zzLM4

Edit:

Not really related, but I just thought this was classy

http://i.imgur.com/i0ZZc.png

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October 28, 2011, 02:27:28 AM
 #24

Say someone had a million SC and complete control of SC source code.  Say this person knows SC is dead.  He could implement a "bug" which locks all the wallets and then use that vacuum to sell off his SC before the price drops.

Bingo, it's not a bug and locking the wallets is what he did to me two days after launch.

Um, I agree, where is the normal BitcoinExpress?  Very odd.
Bobnova
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October 28, 2011, 02:31:19 AM
 #25

The vast majority of bitcoin people got into bitcoin because they can make USD mining bitcoins, they don't give a rats ass about it's "security", or anything else.
Same deal with SC, it's profitable, people mine it.  If it becomes unprofitable, they won't.
The security and transactions and wallets getting locked and all of that don't matter at all if you're converting the SC2s to BTC to USD as fast as they come in.  They're out nothing if the network crashes or RS steals everything.

For every seller there is a buyer.  Someone selling a coin doesn't remove the risk it simply transfers it.  Thus no matter what someone is assuming the risk.  Their wallet can be locked, their funds can be stolen, their coins are worthless if RS halts the network.

Regardless of who "owns" it the amount at risk = # of coins mined * current value of coins.  A miner selling a coin doesn't change that.

Oh yes, somebody takes a risk, but the miners don't.
I'm not mining SC, but if I was I'd be risking a few cents of electricity at any given point in time.

If bitcoin and especially all the alt coins have proven one (1) thing, it's that there's always someone willing to risk money for a profit.

BTC:  1AURXf66t7pw65NwRiKukwPq1hLSiYLqbP
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October 28, 2011, 05:08:50 AM
 #26

Um, I agree, where is the normal BitcoinExpress?  Very odd.
+1, since he's back from his ban he seems to be CoinHunter's super-best pal. That's weird... did someone steal his account or something?

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November 01, 2011, 08:27:24 PM
 #27

Litecoin has passed Solidcoin in value on BTC-E and will also do on Solidcoin24 sometime soon.

You mean because you pushed it a little bit? 1 pusher doesn't work out at the end, when his investments are bought, the price will get back to his real price...
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