[RELEASE] Liquidcoin (Speculation based)

[tacotime]

Probably not this one if it becomes impossible to mine new blocks because the servers are being prodded so much for information...  That's the point of modulating difficulty, I thought.

Imma mine some now to dump to idiots, though.

[Red Emerald]

Probably not this one if it becomes impossible to mine new blocks because the servers are being prodded so much for information...  That's the point of modulating difficulty, I thought.

Imma mine some now to dump to idiots, though.

They won't even be worth the electricity.

[steelhouse]

Once the reward goes to 1 at block 96,000 there will be 1,225,000 coins out.  If you mine 1000 blocks a day (today it is 2000 blocks a day), that is 365,000 coin a year.  So the inflation is still going to be 30%.  Bernanke and congress can do better than that.  However, the number of coins per day will change on the price and number of miners, so it is a neat experiment which a paper can be written on.

Gold can be mined so many man-hours per ounce.  liquidcoin can be mined so many per difficulty.  So liquidcoin mimics gold more than any other coin.  

[Sherkel]

You make a good point. The value remains to be seen, however.

The value is non-existent and always will be.

Even though they're being bought and sold?

[Red Emerald]

You make a good point. The value remains to be seen, however.

The value is non-existent and always will be.

Even though they're being bought and sold?

Yes

[mrx]

liquidcoin p2pool is working if anyone is interested.

I'll put modified files on github soon. Meanwhile, you can point your miner to 124.205.120.178:2001 with your liquidcoin address as miner's username. I'm not stealing your hashing power (seriously.)

EDIT: https://github.com/RuxiaoMa/p2pool_lqc

[bitlane]

Anyone else get an NTP error popup a little while ago ?

Is someone trying to 'go back in time' and re-claim already mined blocks with a ton of power ?.....lol

[tacotime]

Looks like LQC is dead in the water...  Only two buy orders in vircurex with no prospect of being added to BTC-e and a price set rapidly to drop below 0.0001 BTC/LQC.

[Come-from-Beyond]

Looks like LQC is dead in the water...  Only two buy orders in vircurex with no prospect of being added to BTC-e and a price set rapidly to drop below 0.0001 BTC/LQC.

Noone surprised.

[steelhouse]

We will see I bought 5000 just in case.  I think you have to wait 3 months to see if it is a failure.  Gold can be mined so many man-hours per ounce.  liquidcoin can be mined so many per difficulty.  So liquidcoin mimics gold more than any other coin.  I use to only get 3 connections, now I always get 8.

[markm]

You drive down the value of your currency if all you actually use it for is to dump it for fiat or for some other currency.

All these play-currencies are actually very useful for testing financial applications if at least some people think they might someday have at least some value. Trying to do a real test with real users or even real players-of-games does not work well using "testnet coins" because even game players don't consider it worth their while to pursue coins that are just going to be thrown away instead of actually remaining an ongoing part of the game, a hoard they can look forward to playing with for years to come.

Possibly this particular play-currency might not be worth playing with, but maybe that is largely the fault of the people who keep trying to sell all the game-pieces instead of actually playing with them...

-MarkM-

[steelhouse]

Bitcoin is leading because there are businesses around bitcoin also there is a real team of developers.

Liquidcoin is analogous to gold.

1gold. You mine gold so many man-hours per ounce.
1lqc. You mine lqc so many per difficulty.

2gold. When the new world was discovered, the price of gold halved due to the new supply added.  
2lqc. As new equipment is added like fpga's or 16cores, the price of lqc might halve.

3gold. New technology allows people to mine gold at lower cost, but the current supply prevents large amounts of inflation.  
3lqc. New mining algorithms or software allows people to mine at lower cost, but the current supply puts a lid on inflation.

4gold.  The whole country could mine gold, but the price would crash.
5lqc.  The whole world could mine lqc, but the price would crash.  

5gold/lqc.  If coins are hoarded and the price rises, people will just mine more

[Red Emerald]

Bitcoin is leading because there are businesses around bitcoin also there is a real team of developers.

Liquidcoin is analogous to gold.

1gold. You mine gold so many man-hours per ounce.
1lqc. You mine lqc so many per difficulty.

2gold. When the new world was discovered, the price of gold halved due to the new supply added.  
2lqc. As new equipment is added like fpga's or 16cores, the price of lqc might halve.

3gold. New technology allows people to mine gold at lower cost, but the current supply prevents large amounts of inflation.  
3lqc. New mining algorithms or software allows people to mine at lower cost, but the current supply puts a lid on inflation.

4gold.  The whole country could mine gold, but the price would crash.
5lqc.  The whole world could mine lqc, but the price would crash.  

5gold/lqc.  If coins are hoarded and the price rises, people will just mine more

lol dude. No. Just No

[DeathAndTaxes]

...
6gold. actual useful
6lqc. worthless beyond all belief

7gold. has been viable form of currency and wealth storage for 3 millennium.
7lqc. has so many fatal flaws even if it did become popular would fail within months.

[tacotime]

If the hash rate goes just a little lower I can 51% the chain. 

[mrx]

who's mining on my p2pool node? i'm going to reuse port 2000 so please change to port 2001. i will compensate this with a block.

i'm very sorry about that, but it's best to run a node yourself.

sincere apologies.

[steelhouse]

liquidcoin is on fire. 

[tiker]

Anyone know why I'm not getting the block chain properly using a linux client compiled from the git source?


Got new block at height 1222: 810cc20b30a6f108c0677269c9ea046f9c53a1d6494a615a1a84fa4e99e192bb
REORGANIZE
ERROR: Reorganize() : ConnectBlock failed
InvalidChainFound: invalid block=810cc20b30a6f108c067  height=1222  work=262427553894
InvalidChainFound:  current best=bae238edd46f91e75260  height=1000  work=214752689592
InvalidChainFound: WARNING: Displayed transactions may not be correct!  You may need to upgrade, or other nodes may need to upgrade.
ERROR: SetBestChain() : Reorganize failed
ERROR: AcceptBlock() : AddToBlockIndex failed
ERROR: ProcessBlock() : AcceptBlock FAILED
received block 69c2d2049ca7c455abb6
Got new block at height 1223: 69c2d2049ca7c455abb6af6c7ef9f92b10b20c89e3ab54d1850dfc77040cdd21
REORGANIZE
ERROR: Reorganize() : ConnectBlock failed
InvalidChainFound: invalid block=69c2d2049ca7c455abb6  height=1223  work=262642305535
InvalidChainFound:  current best=bae238edd46f91e75260  height=1000  work=214752689592
InvalidChainFound: WARNING: Displayed transactions may not be correct!  You may need to upgrade, or other nodes may need to upgrade.
ERROR: SetBestChain() : Reorganize failed
ERROR: AcceptBlock() : AddToBlockIndex failed
ERROR: ProcessBlock() : AcceptBlock FAILED
received block 7f1fdfbca68cb18426f1

[ehmdjii]

so is there still some activity on LQC or is it completely dead?

they said the end of the chain will be reached within two weeks of start.

[Zoiner]

Look on Allchains.info which shows how many GH/s for all the currencies.

So far as I can see it is not yet dead and provided some keep mining it won't die.  It remains a question as to where the coins already are and what people want to do with them.

No reason, for example, why one couldn't use them within an online gaming site as chips.