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CryptoGretzky
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August 13, 2014, 02:10:13 AM |
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Well for what it's worth I REALLY did mean what I said about consensus. My biggest issue with crypto right now is exactly that - consensus. With no consensus people trying to use it as money will get screwed over and over again when it loses all it's value (consensus). Then second is the pyramid scheme. It took me (longer) to come to this conclusion than it should've (and losing way more money than I wanted to). But the fact is - that bitcoin slows distribution even while adoption grows. Which heavily heavily discourages use of bitcoin as a currency IF you think adoption will grow. In other words - "bitcoin is like money that I pay with except that if I pay with it now and twice as many people use it next year then it will be worth 2X as much". On top of that - mining halves. So if you assume that bitcoin is a currency (representation of energy) that is worth something along the lines of (# of adopters / difficulty to get bitcoin) then when it halves it further drives up the value of early adopters. Not to even mention the mining difficulty / slice of the pie distribution method. (I'm sure all of this has been discussed somewhere). But PoS (IMO) takes this problem and makes it worse. If I want an XC coin - I have to buy it from you. I can't mine it. Then I have to hope the next guy is willing to pay more. It's even more of a pyramid scheme than bitcoin. In addition to that ... like I said before. Currency = consensus. This is why bitcoin is really the only thing trying to be a currency (albeit a pyramid currency). When things are widely recognized as a transfer / store of energy or resources THEN they can be a currency. But what we have is people putting their money into stuff they hopes turns into a currency ... then lose it all in a few weeks. This mindset creates the unstable markets we see and the high unlikely (due to the economics and competition being set up in such a way to make it unlikely that 1 XC will be worth anything in six months unless new money continues to pour in). So most people thinking "Oh ... this could be a currency some day" WILL be left sitting with an empty bag while the speculators continue to bounce around. Until the distribution is fixed. And a broader consensus is formed around a coin. I feel the entire structure of everything (PoS is worse) directly discourages long term adoption or an actual "currency". So there you have my rambling thoughts. If XC were really good at what it did (which I have my doubts as to it being the best looking into Cryptonote ... they just need to solve bloat). But IF it were - then tokens being rewarded to nodes that provide private communication is a completely different ecosystem than the PoS (& to lesser extent PoW) pyramid scheme. AND it would help solve the problem we have with TOR - notably that the NSA can fund these nodes and if they get enough of them (and since nodes don't have any way of breaking even or making money - and the NSA has a huge budget they probably are) they can begin to crack privacy. If you find a way to reward the nodes. You solve the NSA problem. Sorry for the rambly post. I hope you change your mind about XC, buy some, and then pay dadon his winnings on your bet from your XC profits! Grin Grin lolol A coin that have long POW does not necessarily means it's easier to get the coins.... just look at Bitcoin. You think it's easy to mine Bitcoin? You might as well buy it from the exchange, otherwise, the ASIC you are getting will never allow you to see ROI. So, what's the difference between buying Bitcoin from and exchange and buying XC from an exchange??!?!? Nothing. |
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rdnkjdi
Legendary
 Offline
Activity: 1256
Merit: 1009
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August 13, 2014, 02:13:34 AM |
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A coin that have long POW does not necessarily means it's easier to get the coins.... just look at Bitcoin. You think it's easy to mine Bitcoin? You might as well buy it from the exchange, otherwise, the ASIC you are getting will never allow you to see ROI. So, what's the difference between buying Bitcoin from and exchange and buying XC from an exchange??!?!? Nothing.
Actually there is. Mining it means that energy is being spent on creation of the coins (mining) vs rewarding the owners + making sure all new minted coins go to existing hodlers (PoS). Not people who've spent their money on mining equipment. |
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CryptoGretzky
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August 13, 2014, 02:16:47 AM |
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A coin that have long POW does not necessarily means it's easier to get the coins.... just look at Bitcoin. You think it's easy to mine Bitcoin? You might as well buy it from the exchange, otherwise, the ASIC you are getting will never allow you to see ROI. So, what's the difference between buying Bitcoin from and exchange and buying XC from an exchange??!?!? Nothing.
Actually there is. Mining it means that energy is being spent on creation of the coins (mining) vs rewarding the owners (PoS) + making sure all new minted coins go to existing holders. Not people who've spent their money on mining equipment. Humans are driven by greed. The minted coins will get dumped still and distributed. With Bitcoins, the people that are getting rich off it are the ASIC companies (shovel sellers). With PoS coins, the money stays within the system (as in the coins market either btc or alt coins). |
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G-Bert
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August 13, 2014, 02:20:49 AM |
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Well for what it's worth I REALLY did mean what I said about consensus. My biggest issue with crypto right now is exactly that - consensus. With no consensus people trying to use it as money will get screwed over and over again when it loses all it's value (consensus). Then second is the pyramid scheme. It took me (longer) to come to this conclusion than it should've (and losing way more money than I wanted to). But the fact is - that bitcoin slows distribution even while adoption grows. Which heavily heavily discourages use of bitcoin as a currency IF you think adoption will grow. In other words - "bitcoin is like money that I pay with except that if I pay with it now and twice as many people use it next year then it will be worth 2X as much". On top of that - mining halves. So if you assume that bitcoin is a currency (representation of energy) that is worth something along the lines of (# of adopters / difficulty to get bitcoin) then when it halves it further drives up the value of early adopters. Not to even mention the mining difficulty / slice of the pie distribution method. (I'm sure all of this has been discussed somewhere). But PoS (IMO) takes this problem and makes it worse. If I want an XC coin - I have to buy it from you. I can't mine it. Then I have to hope the next guy is willing to pay more. It's even more of a pyramid scheme than bitcoin. In addition to that ... like I said before. Currency = consensus. This is why bitcoin is really the only thing trying to be a currency (albeit a pyramid currency). When things are widely recognized as a transfer / store of energy or resources THEN they can be a currency. But what we have is people putting their money into stuff they hopes turns into a currency ... then lose it all in a few weeks. This mindset creates the unstable markets we see and the high unlikely (due to the economics and competition being set up in such a way to make it unlikely that 1 XC will be worth anything in six months unless new money continues to pour in). So most people thinking "Oh ... this could be a currency some day" WILL be left sitting with an empty bag while the speculators continue to bounce around. Until the distribution is fixed. And a broader consensus is formed around a coin. I feel the entire structure of everything (PoS is worse) directly discourages long term adoption or an actual "currency". So there you have my rambling thoughts. If XC were really good at what it did (which I have my doubts as to it being the best looking into Cryptonote ... they just need to solve bloat). But IF it were - then tokens being rewarded to nodes that provide private communication is a completely different ecosystem than the PoS (& to lesser extent PoW) pyramid scheme. AND it would help solve the problem we have with TOR - notably that the NSA can fund these nodes and if they get enough of them (and since nodes don't have any way of breaking even or making money - and the NSA has a huge budget they probably are) they can begin to crack privacy. If you find a way to reward the nodes. You solve the NSA problem. Sorry for the rambly post. I hope you change your mind about XC, buy some, and then pay dadon his winnings on your bet from your XC profits! Grin Grin lolol A coin that have long POW does not necessarily means it's easier to get the coins.... just look at Bitcoin. You think it's easy to mine Bitcoin? You might as well buy it from the exchange, otherwise, the ASIC you are getting will never allow you to see ROI. So, what's the difference between buying Bitcoin from and exchange and buying XC from an exchange??!?!? Nothing. This. Plus you can always mine other coins and exchange them for XC for now. Then once you have some, you will be staking without needing to worry about mining. Buying more on exchanges only helps spread the wealth. Anyway, 3.30am, Im knackered. till tomorrow  |
XChat XJkVnYD4N4oSjNStgbAUD6UyWuBTWuMRgv
public key fuYPYmK4Sj57PkU2NKg1gKW91euMKkstQPeeexUcxnb8
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CryptoGretzky
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August 13, 2014, 02:21:07 AM |
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Something I noticed on Mintpal that is really peculiar...
The change % of XC is mostly in the negative even if our 6/24 hours don't change much.
The change % of Cloak is mostly ALWAYS positive even though they have dropped like a rock in the last 24 hours (110k -> 79k)
Is Mintpal trying to artificially make some coins look good/bad?!?! This is not the first day that I have noticed this by the way.
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RW-Stott
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August 13, 2014, 02:29:06 AM |
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Something I noticed on Mintpal that is really peculiar...
The change % of XC is mostly in the negative even if our 6/24 hours don't change much.
The change % of Cloak is mostly ALWAYS positive even though they have dropped like a rock in the last 24 hours (110k -> 79k)
Is Mintpal trying to artificially make some coins look good/bad?!?! This is not the first day that I have noticed this by the way.
Just coincidence. Mintpal does stat resets at same time each day |
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CryptoGretzky
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August 13, 2014, 02:31:00 AM |
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Something I noticed on Mintpal that is really peculiar...
The change % of XC is mostly in the negative even if our 6/24 hours don't change much.
The change % of Cloak is mostly ALWAYS positive even though they have dropped like a rock in the last 24 hours (110k -> 79k)
Is Mintpal trying to artificially make some coins look good/bad?!?! This is not the first day that I have noticed this by the way.
Just coincidence. Mintpal does stat resets at same time each day That doesn't make sense... why is the stats not on a 24hr basis but on their own "reset" schedule? |
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520Bit
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August 13, 2014, 02:31:43 AM |
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[quote ]
I should have an updated whitepaper on both the decentralized trustless mixing [which is multi-sig based] and the xchat by Sunday night, if not sooner. [/quote] Great. |
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Driv3n
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August 13, 2014, 02:59:41 AM |
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What a joke... Synechist should respond in that thread. |
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Driv3n
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August 13, 2014, 03:11:30 AM |
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What a joke... Synechist should respond in that thread. Then again he may not have to... looks like a few of us have already posted over there... for any other XC followers if you choose to post in there lets keep it civil I dont wanna see a back and forth shitstorm... the alt scene is already bad enough right now. |
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demgains
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August 13, 2014, 03:41:01 AM |
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love the flood of XC'ers that pool in. If they don't trust XC's dev, who are they going to? Keycoin? LOL |
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IMJim
Legendary
Offline
Activity: 1260
Merit: 1000
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August 13, 2014, 03:57:49 AM |
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Ha, a good laugh anyways....thanks to whoever posted that picture......a prime example how a simple picture can tell the story:-) |
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brother3
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August 13, 2014, 04:15:13 AM |
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Ha, a good laugh anyways....thanks to whoever posted that picture......a prime example how a simple picture can tell the story:-)  I actually feel pretty bad for the guy... Foot in mouth disease is incurable  |
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dadon
Legendary
Offline
Activity: 1190
Merit: 1002
Pecvniate obedivnt omnia.
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August 13, 2014, 05:43:32 AM |
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We should probably chill out over in the mammoth thread now lol, we put him in his place, time to take the high road.
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CryptoGretzky
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August 13, 2014, 05:43:56 AM |
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We should probably chill out over in the mammoth thread now lol, we put him in his place, time to take the high road.
Well unless you see something funny.... like this... Hmmm so that screenshot... 1. Is Mammothcoin and supercoindev the same dev? 2. If not, who was the lazy dev that just stole that screenshot and pretended a transaction was logged? (Supercoindev or you)  |
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The-C-Word
Member
Offline
Activity: 100
Merit: 10
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August 13, 2014, 05:52:16 AM |
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^^
Yeah they mentioned a few times in the Supercoin thread that super/mamm shared the same multisig tech.
Don't know why they'd work on two coins touting the same feature simultaneously... Scam city?
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CryptoGretzky
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August 13, 2014, 05:53:53 AM |
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^^
Yeah they mentioned a few times in the Supercoin thread that super/mamm shared the same multisig tech.
Don't know why they'd work on two coins touting the same feature simultaneously... Scam city?
When there's smoke, there's fire.... It totally smell like a scam. Supercoin dev claims that they are the "first" p2p decentralized coin and also bashed Dan. Now, Mammothcoin dev comes out firing also? |
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CryptoGretzky
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August 13, 2014, 06:01:47 AM |
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^^
Yeah they mentioned a few times in the Supercoin thread that super/mamm shared the same multisig tech.
Don't know why they'd work on two coins touting the same feature simultaneously... Scam city?
When there's smoke, there's fire.... It totally smell like a scam. Supercoin dev claims that they are the "first" p2p decentralized coin and also bashed Dan. Now, Mammothcoin dev comes out firing also? I am 99% sure they are scammers. He deleted my post showing the screenshot. Warn everyone you know. Mammothcoin is a complete scam. |
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CryptoGretzky
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August 13, 2014, 06:27:42 AM |
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^^
Yeah they mentioned a few times in the Supercoin thread that super/mamm shared the same multisig tech.
Don't know why they'd work on two coins touting the same feature simultaneously... Scam city?
When there's smoke, there's fire.... It totally smell like a scam. Supercoin dev claims that they are the "first" p2p decentralized coin and also bashed Dan. Now, Mammothcoin dev comes out firing also? To get free advertisement? Seem desperate!  Ok, supercoindev has admitted that they are co-developers. He QUICKLY deleted his response, but I quoted him before he deleted it. We are co developers. Otherwise it takes more time to bring about such a unique technology. I wonder why you suddenly appear and questioning. It's long time we did not see any fud. You should feel something threating you. Let us know what makes you afraid so?
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