rpietila Altcoin Observer

[box0211]

@rpietila -- i agree with you on your initial post back last year about the altcoins you listed. I was also in the same boat with the nxt premine distribution, but  having following it for the past year it seems that their platform is more promising than its coin aside from the premine aspect. I'm curious to what is your thoughts on it so far with its latest developments.

[1714898508]

1714898508

[rpietila]

@rpietila -- i agree with you on your initial post back last year about the altcoins you listed. I was also in the same boat with the nxt premine distribution, but  having following it for the past year it seems that their platform is more promising than its coin aside from the premine aspect. I'm curious to what is your thoughts on it so far with its latest developments.

I haven't really followed the "blockchain 2.0" things including NXT or payment networks (Ripple, Paypal). I also don't know about technology and it does not interest me. I haven't invested in any of the aforementioned and don't think I will.

Although XMR is down from where I told that it is "very interesting", I have followed it closely and been actively involved in the development. I feel there is a great undervaluation ongoing, and the rise that started a few weeks ago is just the beginning. XMR needs to make a new high ($5+) to make it a convincing case for an altcoin that has future. We still have about 600% to go to reach even that value, which means there's money to be made.

Money I do understand, technology not.

[iGotSpots]

Power-law seems to be the opposite of what people actually want

Most of the assholes here would scream of scam. Although the end would be ideal, the path there would be paved with massive hate. Everyone wants to be average...until they are

[drawingthesun]

@rpietila -- i agree with you on your initial post back last year about the altcoins you listed. I was also in the same boat with the nxt premine distribution, but  having following it for the past year it seems that their platform is more promising than its coin aside from the premine aspect. I'm curious to what is your thoughts on it so far with its latest developments.

I haven't really followed the "blockchain 2.0" things including NXT or payment networks (Ripple, Paypal). I also don't know about technology and it does not interest me. I haven't invested in any of the aforementioned and don't think I will.

Although XMR is down from where I told that it is "very interesting", I have followed it closely and been actively involved in the development. I feel there is a great undervaluation ongoing, and the rise that started a few weeks ago is just the beginning. XMR needs to make a new high ($5+) to make it a convincing case for an altcoin that has future. We still have about 600% to go to reach even that value, which means there's money to be made.

Money I do understand, technology not.

I think I said this a while ago, at one point (way before Monero) I was very optimistic about generation 2 coins, coins that could run applications and such.
After following the developments of MaidSafe, Ripple, Ethereum for a while the idea turned a little sour in my mind, and this was still before Monero was on the scene.

The reason for sour flour? Imagine the internet was bound so that each TCP transaction was tied eternally into dollars?
Yep, it all kind of fell apart from that point onwards, in my mind.

I felt that the solution wasn't in tying a currency into such a platform, the solution was a generation 2 platform that would be coin agnostic.
The ideal platform would be more open and fluid, accepting any number of currencies to run it's underlying system, some of these apps might not even need to be tied into crypto currency at all.

One of my beliefs is that over a long enough time span, almost all systems will become open. I believe the same will happen for these platforms. Ethereum might be open source, but it's still a closed eco system for the applications running on top. The fuel is a single coin that can never change.

Once I convinced myself that the true generation 2 platforms would eventually run on top of any currency (using perhaps some type of API?) I started looking for a new coin, one that can compliment my Bitcoin investments. I found Zerocoin and waited for it, but as more information came out, about the trust issues with the initial accumulator state, I moved on from that idea.

I waited and waited and then Monero came along. A fresh idea, a coin that wasn't tacking on Gen 2 crap, closed eco systems, and a coin that offered anonymity now with a growing development team.

So I started investing with my fingers crossed.

It was a while after that you announced that you too were interested in Monero, and having knew who you were beforehand really helped back up my decision.

Perhaps Monero will be my saving grace, that future platforms will run on top of it and others, with Monero leading the way as the true cash of the internet.

Who knows.

Separate church and state.
Separate coin and platform.

:p

[Este Nuno]

@rpietila -- i agree with you on your initial post back last year about the altcoins you listed. I was also in the same boat with the nxt premine distribution, but  having following it for the past year it seems that their platform is more promising than its coin aside from the premine aspect. I'm curious to what is your thoughts on it so far with its latest developments.

I haven't really followed the "blockchain 2.0" things including NXT or payment networks (Ripple, Paypal). I also don't know about technology and it does not interest me. I haven't invested in any of the aforementioned and don't think I will.

Although XMR is down from where I told that it is "very interesting", I have followed it closely and been actively involved in the development. I feel there is a great undervaluation ongoing, and the rise that started a few weeks ago is just the beginning. XMR needs to make a new high ($5+) to make it a convincing case for an altcoin that has future. We still have about 600% to go to reach even that value, which means there's money to be made.

Money I do understand, technology not.

I think I said this a while ago, at one point (way before Monero) I was very optimistic about generation 2 coins, coins that could run applications and such.
After following the developments of MaidSafe, Ripple, Ethereum for a while the idea turned a little sour in my mind, and this was still before Monero was on the scene.

The reason for sour flour? Imagine the internet was bound so that each TCP transaction was tied eternally into dollars?
Yep, it all kind of fell apart from that point onwards, in my mind.

I felt that the solution wasn't in tying a currency into such a platform, the solution was a generation 2 platform that would be coin agnostic.
The ideal platform would be more open and fluid, accepting any number of currencies to run it's underlying system, some of these apps might not even need to be tied into crypto currency at all.

One of my beliefs is that over a long enough time span, almost all systems will become open. I believe the same will happen for these platforms. Ethereum might be open source, but it's still a closed eco system for the applications running on top. The fuel is a single coin that can never change.

Once I convinced myself that the true generation 2 platforms would eventually run on top of any currency (using perhaps some type of API?) I started looking for a new coin, one that can compliment my Bitcoin investments. I found Zerocoin and waited for it, but as more information came out, about the trust issues with the initial accumulator state, I moved on from that idea.

I waited and waited and then Monero came along. A fresh idea, a coin that wasn't tacking on Gen 2 crap, closed eco systems, and a coin that offered anonymity now with a growing development team.

So I started investing with my fingers crossed.

It was a while after that you announced that you too were interested in Monero, and having knew who you were beforehand really helped back up my decision.

Perhaps Monero will be my saving grace, that future platforms will run on top of it and others, with Monero leading the way as the true cash of the internet.

Who knows.

Separate church and state.
Separate coin and platform.

:p

Sounds like SuperNET to me. Especially the API thing and being able to run on any type of currency.

[cAPSLOCK]

My feeling with regards to this area of thought (alts and 2.0) is the more complicated a platform the more points of failure it has.  The more hackable, or gameable it is.  Let simple systems cover the bases ie bitcoin, or monero, and let complexities be built atop and outside of that foundation ala CryptoKingdom, Coinbase, Silk Road, etc.  Then let the chips fall where they may.  Silk Road can be taken out while bitcoin survives. 

Start adding things like "masternodes" to a protocol and you are building vectors into the foundations.  It is not pure anymore.  Build something like etherium, nxt, ripple, maidsafe...  The complexity becomes vullnerability. 

Nomatter all the good design and intentions most of it is just snake oil in the end.

In some ways the farther Monero has gone down the "THERE IS NO GUI!!!!" path the safer I feel being invested in it.

[111magic]

Any thougths/research on Magi (https://bitcointalk.org/index.php?topic=735170.0)?
They have CPU mining, PoS-II, PoM & Unique BLK reward and are building there own payment processor.
From a first look the project looks pretty sophisticated. I think I try to upread on it today or tommorow.

Nice to see that Magi (XMG) can be discussed here also.
If you have questions just ask.
Always welcome.

Since you are part of the Magi community I though I would ask you if you have any personal information on the cryptocoins-dice gambling site owner who went by the name Bobbax (new account he used for the gambling site scam).  He seems to have been involved with Magi as well.  Have a read through the thread below and if you have any information to help the community please post it there.  These sort of thiefs need to be rooted out of the crypto scene.

https://bitcointalk.org/index.php?topic=988226.msg10765725#msg10765725

I will check for you. Hate scams!! Will contact our dev for delete this one in our Magi thread! Thanks amigo!

https://bitcointalk.org/index.php?topic=988226.new#new

Link is deleted from our original Magi (XMG) thread.

[Bassica]

My feeling with regards to this area of thought (alts and 2.0) is the more complicated a platform the more points of failure it has.  The more hackable, or gameable it is.  Let simple systems cover the bases ie bitcoin, or monero, and let complexities be built atop and outside of that foundation ala CryptoKingdom, Coinbase, Silk Road, etc.  Then let the chips fall where they may.  Silk Road can be taken out while bitcoin survives. 

Start adding things like "masternodes" to a protocol and you are building vectors into the foundations.  It is not pure anymore.  Build something like etherium, nxt, ripple, maidsafe...  The complexity becomes vullnerability. 

Nomatter all the good design and intentions most of it is just snake oil in the end.

In some ways the farther Monero has gone down the "THERE IS NO GUI!!!!" path the safer I feel being invested in it.

Agree.

Relevant:
http://cointelegraph.com/news/113655/dumb-vs-smart-which-network-is-better-for-bitcoin

[drawingthesun]

Sounds like SuperNET to me. Especially the API thing and being able to run on any type of currency.

I'm not so sure, isn't SuperNET using the various coins as features apart of the network? For example BBR will be the anonymous layer, etc...

I am not advocating that at all, I'm advocating for a truly coin agnostic platform that only uses Crypto Currencies as a method of barter/payment and nothing more.

[Este Nuno]

Sounds like SuperNET to me. Especially the API thing and being able to run on any type of currency.

I'm not so sure, isn't SuperNET using the various coins as features apart of the network? For example BBR will be the anonymous layer, etc...

I am not advocating that at all, I'm advocating for a truly coin agnostic platform that only uses Crypto Currencies as a method of barter/payment and nothing more.

Something that allows people to spend any crypto anywhere that accepts crypto as payment?

[darlidada]

Sounds like SuperNET to me. Especially the API thing and being able to run on any type of currency.

I'm not so sure, isn't SuperNET using the various coins as features apart of the network? For example BBR will be the anonymous layer, etc...

I am not advocating that at all, I'm advocating for a truly coin agnostic platform that only uses Crypto Currencies as a method of barter/payment and nothing more.

Something that allows people to spend any crypto anywhere that accepts crypto as payment?

like shapshift and xmr.to?

[111magic]

Sounds like SuperNET to me. Especially the API thing and being able to run on any type of currency.

I'm not so sure, isn't SuperNET using the various coins as features apart of the network? For example BBR will be the anonymous layer, etc...

I am not advocating that at all, I'm advocating for a truly coin agnostic platform that only uses Crypto Currencies as a method of barter/payment and nothing more.

Something that allows people to spend any crypto anywhere that accepts crypto as payment?

like shapshift and xmr.to?

Or do you mean Magi XMG? (Coin of the Magi)
Magi launched own standalone payment short time ago.

[wpalczynski]

Sounds like SuperNET to me. Especially the API thing and being able to run on any type of currency.

I'm not so sure, isn't SuperNET using the various coins as features apart of the network? For example BBR will be the anonymous layer, etc...

I am not advocating that at all, I'm advocating for a truly coin agnostic platform that only uses Crypto Currencies as a method of barter/payment and nothing more.

Something that allows people to spend any crypto anywhere that accepts crypto as payment?

like shapshift and xmr.to?

Or do you mean Magi XMG? (Coin of the Magi)
Magi launched own standalone payment short time ago.

Please don't spam this thread with Magi pumping.  However, the guys over at the DRK thread really like hearing about new coins with latest technology, let them know about it.

https://bitcointalk.org/index.php?topic=421615.89720

[111magic]

Ok you right about that Wpalczynski! Sorry for that. Will keep the thread clean.

[wizzardTim]

Regarding altcoin observation,

everyone should pay attention to Qora in my opinion.

There are plenty reasons for this, I'm just gonna mention some that come instantly on my mind:

1) Qora is now fully open source. You can find it on https://github.com/Qoracoin/  This brings an end to all rumors that it is a clone.

2) It has a ton of features and more are being constantly implemented. The new wallet release that is being built now, will have AT functionality inside the core, built by the CIYAM team. On top of the AT platform, many useful scenarios will take place like ACCT (Atomic Cross Chain Transfer) - the first worldwide complete decentralized exchange. It will be among Burst and Qora. That is huge for the whole crypto world! Smart contracts can also be built on top of AT platform and we all know what this means..  Relevant info on these here:

AT can be used to anonymize inter-blockchain transfers (who would have thought?) -> https://bitcointalk.org/index.php?topic=893271.0
Why blockchains might want to consider using AT "Turing complete" txs                 -> https://bitcointalk.org/index.php?topic=822100.0
20 BTC bounty for first AT *atomic cross-chain transfer* with Script clone              -> https://bitcointalk.org/index.php?topic=826263.0
CIYAM AT                                                                                                     -> http://ciyam.org/at/

3) A team of developers has been formed and is being expanded. You can watch the relevant thread for updates https://bitcointalk.org/index.php?topic=881230.0 and also pay a visit in the slack channel https://qoracommunity.slack.com, where most of the communication takes place.

[GreekBitcoin]

Regarding altcoin observation,

everyone should pay attention to Qora in my opinion.

There are plenty reasons for this, I'm just gonna mention some that come instantly on my mind:

1) Qora is now fully open source. You can find it on https://github.com/Qoracoin/  This brings an end to all rumors that it is a clone.

2) It has a ton of features and more are being constantly implemented. The new wallet release that is being built now, will have AT functionality inside the core, built by the CIYAM team. On top of the AT platform, many useful scenarios will take place like ACCT (Atomic Cross Chain Transfer) - the first worldwide complete decentralized exchange. It will be among Burst and Qora. That is huge for the whole crypto world! Smart contracts can also be built on top of AT platform and we all know what this means..  Relevant info on these here:

AT can be used to anonymize inter-blockchain transfers (who would have thought?) -> https://bitcointalk.org/index.php?topic=893271.0
Why blockchains might want to consider using AT "Turing complete" txs                 -> https://bitcointalk.org/index.php?topic=822100.0
20 BTC bounty for first AT *atomic cross-chain transfer* with Script clone              -> https://bitcointalk.org/index.php?topic=826263.0
CIYAM AT                                                                                                     -> http://ciyam.org/at/

3) A team of developers has been formed and is being expanded. You can watch the relevant thread for updates https://bitcointalk.org/index.php?topic=881230.0 and also pay a visit in the slack channel https://qoracommunity.slack.com, where most of the communication takes place.

I dont feel good with 100% PoS coins especially when the main thread is a self-moderated topic. It just smells too fishy for my likes. So i dont even give some time to read about it. That is totally my subjective comment about it.

[wizzardTim]

I dont feel good with 100% PoS coins especially when the main thread is a self-moderated topic. It just smells too fishy for my likes. So i dont even give some time to read about it. That is totally my subjective comment about it.

This is the second main thread, the first was not moderated and it was open to all trolls.

Ok, not reading it is your loss.

[e-coinomist]

I dont feel good with 100% PoS coins especially when the main thread is a self-moderated topic. It just smells too fishy for my likes. So i dont even give some time to read about it. That is totally my subjective comment about it.

This is the second main thread, the first was not moderated and it was open to all trolls.

Ok, not reading it is your loss.

Since you are read in a lot more than we noobs are, could you perhaps dig for us the botnet CPU mining history of Quora?
Thanks.

edit: Quora? Quarks? Sounds similar ... pure POS and botnet CPU mining now sounds silly if I reconsider. One of these was the coin employed just for that, seen as an additionally orderable module for a botnet. Stuff to avoid.

pp: What do we learn from all of this confusion? (besides geeks beeing silly, that is) Branding matters. Think advertising. You cannot advertise *bleep*coin with some considerable success. More of the opposite happens. Stay away from negative associations.

[TrueCryptonaire]

Can someone please explain about Zerocash, why it is a potential threath to Monero (currently considered the number one anon. coin by the most people on the forums)? Please, use layman's language...?
At least there are smart people in their team (prophessors). http://zerocash-project.org/about_us

So this is not launched yet?
What type of emission is planned for this?

[coinits]

Can someone please explain about Zerocash, why it is a potential threath to Monero (currently considered the number one anon. coin by the most people on the forums)? Please, use layman's language...?
At least there are smart people in their team (prophessors). http://zerocash-project.org/about_us

So this is not launched yet?
What type of emission is planned for this?

From the link


    Amazon.com through an AWS in Education research grant
    Broadcom Foundation and Tel Aviv University Authentication Initiative
    Center for Science of Information (CSoI), an NSF Science and Technology Center, under grant agreement CCF-0939370
    Check Point Institute for Information Security
    U.S. Defense Advanced Research Projects Agency (DARPA) and the Air Force Research Laboratory (AFRL) under contract FA8750-11-2-0211
    European Community's Seventh Framework Programme (FP7/2007-2013) under grant agreement number 240258
    Israeli Centers of Research Excellence I-CORE program (center 4/11)
    Israeli Ministry of Science and Technology
    The Leona M. and Harry B. Helmsley Charitable Trust
    Office of Naval Research under contract N00014-11-1-0470
    Simons Foundation, with a Simons Award for Graduate Students in Theoretical Computer Science
    Skolkovo Foundation under grant agreement dated 10/26/2011

The government involvement in this tells me that there is no damn way that this is anonymous.