A tale of two graphs

[DeathAndTaxes]

Centralized and locked down


Decentralized and open

[terrytibbs]

this is so full of truth

[johnj]

Ahh, at first I wasn't sure what I was supposed to be seeing,

But then I gathered that in the top one, hashrate is going down, and in the bottom it's going up.

Unless there is something else that is escaping me.

[DeathAndTaxes]

No that was it.  The crypto community is seeing through the lies of ScamCoin and chosing LTC instead.

Since hashrate on equivalent hardware is roughly 8x higher (not 100% positive on the ratio 10?) for SC than LTC ... today miners are picking LTC over SC 3:1.

[johnj]

No that was it.  The crypto community is seeing through the lies of ScamCoin and chosing LTC instead.

Since hashrate on equivalent hardware is roughly 8x higher (not 100% positive on the ratio 10?) for SC than LTC ... today miners are picking LTC over SC 3:1.

Which is great for LTC, but since SC is so akwardly designed, it doesn't 'need' miners at all, but miners are still the source of distribution. I guess 'early adopters' just think that now that they've got theirs while the block reward was higher, it's silly to mine at a reduced rate.  Moreso though I believe it's people losing confidence in SC as they're learning that a centralized *coin is a dead investment.

[Deprived]

Even if someone IS a 'believer' in SC, mining would be dumb.  They'd be better off mining LTC then selling them and buying SC - getting more than if they directly mined the SC.

Of course how many of those who profess to believe in SC actually do is very open for debate.  All the time the price was decent (before the change in generation rate) the sensible thing to do was to mine and (falsely) claim you believed in SC, in the hope that some 'true believers' would actually buy the SC you mined.

There is a risk though that hardly anyone really believes in SC - and nearly all of them are pretending to in order to encourage others to drive the price up by buying.  If true that would obviously explain why they're trading well below the cost to produce them - as all the ''believers' are talking the talk (that SC will be the best thing ever) but hardly any are walking the walk (buying the useless things because they REALLY believe what they're saying).

[MSAvenger]

No that was it.  The crypto community is seeing through the lies of ScamCoin and chosing LTC instead.

Nope. Miners found LTC mining more profitable. With 32SC per block and difficulty below 20000 more people were mining SC. Actually SolidCoin hashrate is still pretty high considering you can earn more money mining LTC. Do you think anyone hates Namecoin because most miners left it when mining become unprofitable, causing no difficulty recalibration for few months?

In my opinion all cryptocurrencies (Bitcoin & alternate ones) are Bitcointalk-bullshit-and-propaganda resistant

[bulanula]

Even if someone IS a 'believer' in SC, mining would be dumb.  They'd be better off mining LTC then selling them and buying SC - getting more than if they directly mined the SC.

Of course how many of those who profess to believe in SC actually do is very open for debate.  All the time the price was decent (before the change in generation rate) the sensible thing to do was to mine and (falsely) claim you believed in SC, in the hope that some 'true believers' would actually buy the SC you mined.

There is a risk though that hardly anyone really believes in SC - and nearly all of them are pretending to in order to encourage others to drive the price up by buying.  If true that would obviously explain why they're trading well below the cost to produce them - as all the ''believers' are talking the talk (that SC will be the best thing ever) but hardly any are walking the walk (buying the useless things because they REALLY believe what they're saying).

Man, it is like you are reading my mind ! Glad I got rid of that POS before RS could delete my wallet. LTC here I come !