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Author Topic: Microcash.org says "Solidcoin"  (Read 4483 times)
Cosbycoin
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April 24, 2012, 12:20:18 AM
 #1

http://microcash.org/

Hmm perhaps this site needs an update?  Grin
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k9quaint
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April 24, 2012, 01:27:24 AM
 #2

Click on the "Learn more" button. If mortal shell can hold the awesomeness of understanding LemonpartyCoin it will transcend you to another level of existence. If not, you get a 404 error to prevent your mind from being snuffed out by the rainbow of incredibility.

Bitcoin is backed by the full faith and credit of YouTube comments.
Cosbycoin
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April 24, 2012, 01:28:57 AM
 #3

Click on the "Learn more" button. If mortal shell can hold the awesomeness of understanding LemonpartyCoin it will transcend you to another level of existence. If not, you get a 404 error to prevent your mind from being snuffed out by the rainbow of incredibility.

LOL that's pretty funny. To learn more just CLICK here...... 404 ERROR...........LOL~!!!!!!!!!!!!!!!!
Cosbycoin
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April 24, 2012, 01:30:08 AM
 #4

Even the "try solidcoin" link is dead.

It's so awesome the CH is trying to learn more about MicroCash but has the link u before he can teach anyone about it.

SO AWESOME!!!!!
Cosbycoin
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April 24, 2012, 01:42:46 AM
 #5

In fact all the links except the forum appear to be broken. This is such a great project that it leads you to nowhere.

Sounds familiar.... Grin
sd
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April 24, 2012, 08:32:19 AM
 #6

Interesting, the A Records IP all locate to Tokyo.

CoinHunter seems to be based in Australia. Tokyo is near and has better internet links to the rest of the world.

Sadly Linode don't charge for incoming traffic or it could get interesting for CoinHunter what with the billions of visitors he will get.
CoinHunter
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April 24, 2012, 10:25:28 AM
 #7

Looks fine here guys.

Also aren't many of you who criticized many decisions in SolidCoin v2 happy that the developers listened to most of it and removed the stuff or found alternate solutions?

No trust accounts. No trust nodes. Do you guys always need something to whinge about or is it just a hobby?

Try SolidCoin or talk with other SolidCoin supporters here SolidCoin Forums
Nachtwind
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April 24, 2012, 10:49:47 AM
 #8

Looks fine here guys.

Also aren't many of you who criticized many decisions in SolidCoin v2 happy that the developers listened to most of it and removed the stuff or found alternate solutions?

No trust accounts. No trust nodes. Do you guys always need something to whinge about or is it just a hobby?

The problem is, that despite some features being changed the main idea stays the same: A centralised blockchain with a HEAVY benefit to early adoptors as well as a pyramid scheme built in.
So basically what people keep criticising is not a certain technical thing anymore - it is the overall idea.
CoinHunter
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April 24, 2012, 11:01:40 AM
 #9

The problem is, that despite some features being changed the main idea stays the same: A centralised blockchain with a HEAVY benefit to early adoptors as well as a pyramid scheme built in.
So basically what people keep criticising is not a certain technical thing anymore - it is the overall idea.

The block chain isn't centralized in MicroCash, you may need to refine what you mean by the comment.

A pyramid scheme built in sounds interesting... so Bitcoins pyramid block rewards (half the bitcoins block are worth 50 BTC, then half of that worth 25 BTC, then half of that worth 12.5BTC and on and on) aren't a pyramid but I guess having account fees go to every MicroCash user is a pyramid.....

There are way more "early adopters" in MicroCash than Bitcoin. How many people mined Bitcoins first 2 million coins? SolidCoin probably has 100-200x more investors at the same stage. So pretty much all your criticisms here apply to Bitcoin as well but amplified. Are you suggesting Bitcoin needs to improve its overall idea?

Try SolidCoin or talk with other SolidCoin supporters here SolidCoin Forums
Etlase2
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April 24, 2012, 11:08:33 AM
 #10

Claiming that there are more people at the top of the pyramid does not invalidate the argument that it is a pyramid. But we've already established that your logic skills are awful.

Quote
but I guess having account fees go to every MicroCash user is a pyramid.....

And continuing to make blatantly misleading statements is not going to help your case either.

"HEY GUISE U GET CHARGED 5 DECI-PENNIES A DAY BUT U MAKE 1 MILLI-PENNY TO MAKE UP 4 IT!*


* ASSUMING WE DONT BANKRUPT U"

CoinHunter
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April 24, 2012, 11:15:25 AM
 #11

"HEY GUISE U GET CHARGED 5 DECI-PENNIES A DAY BUT U MAKE 1 MILLI-PENNY TO MAKE UP 4 IT!*

Some accounts with low amounts of MicroCash will get low amounts or no amounts of the total fees paid back, who is denying that or misleading anyone? Every day every account takes a half cent (0.005) to cover the operational costs, whether the account is rich or poor this fee is taken. These fees are then redistributed back to every account based on how much MicroCash they have.

Nothing is stopping anyone from becoming a MicroCash holder and earning significant amounts of interest, they just have to sell products people will buy, offer services or invest themselves. People who have tiny amounts of MicroCash will pay an account fee just like someone with a lot of MicroCash will. If they increase the amount of MicroCash they have they'll go from paying a tiny fee to actually earning MicroCash, it's a nice reward system where people can escape paying fees.

As to how much reward is given back, it all depends on the total fees collected, which varies day to day. The more people use the network the more fees are collected and the more people are paid. Now users get indirectly paid for spreading the word about MicroCash to their friends and family.

Try SolidCoin or talk with other SolidCoin supporters here SolidCoin Forums
Etlase2
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April 24, 2012, 11:25:42 AM
 #12

Nothing is stopping anyone from becoming a MicroCash holder and earning significant amounts of interest,

Uhhh what about the people who have more than them? Especially those who got in before the reward went from 32 SC to 0.07 SC?

Quote
Now individual users get indirectly paid for spreading the word about MicroCash to their friends and family.

No they don't, they get paid for being in the top 50%. It's a ridiculously forced incentive to encourage adoption guised under the veil of "oh those resource-hogging microaccounts that everybody hates."

In case anyone was unsure, http://www.solidtools.net/addresses.php

Taking out the 12 trust nodes (why do two have transactions?) only the top 21 accounts (1.4m of 2.8m) will be making money off of this system. LUKS GUD

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April 24, 2012, 11:31:24 AM
 #13

A pyramid scheme built in sounds interesting... so Bitcoins pyramid block rewards (half the bitcoins block are worth 50 BTC, then half of that worth 25 BTC, then half of that worth 12.5BTC and on and on) aren't a pyramid but I guess having account fees go to every MicroCash user is a pyramid.....

MicroCash is a pyramid scheme because it steals from the poor to give to the rich. Bitcoin doesn't steal from anyone, and the block rewards are payed from a fixed and limited supply to those who take the time and effort to secure the network. It is not a pyramid scheme.

Will pretend to do unverifiable things (while actually eating an enchilada-style burrito) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4
CoinHunter
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April 24, 2012, 01:36:40 PM
 #14

Taking out the 12 trust nodes (why do two have transactions?) only the top 21 accounts (1.4m of 2.8m) will be making money off of this system. LUKS GUD

Not to be a "hater" bro, your math is terrible.

You only need ~50 MicroCash to get interest (that is you're paid back more than your fee) given the number of accounts (about 100K). I'll show you the math.

100000 * 0.005 microcash (daily half cent fee) = 500 microcash total in fees

50 MicroCash as a percentage of the total MicroCash in existence is  50/2800000 as there are 2.8 million dollars in existence. This number is %0.0017 of all the MicroCash

We times the percentage of MicroCash an account has (0.000017) by the fees (500)  and we end up with 0.0085 being paid back. Now if you can remember, the fee is 0.005. Now let me show you one final thing.

If you have 50 MicroCash.  0.0085 daily interest - 0.005 daily fee = extra 0.0035 MicroCash per day

So if you have 50 MicroCash, and not even counting transaction fees which are also given fairly to each account, you would get an extra 0.0035 MicroCash per day. No fee, extra money, for a relatively small amount of MicroCash. Now I hope when you design encoin you do a better job with the math. Make sure you carry the decimal.



Try SolidCoin or talk with other SolidCoin supporters here SolidCoin Forums
CoinHunter
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April 24, 2012, 01:48:38 PM
 #15

MicroCash is a pyramid scheme because it steals from the poor to give to the rich. Bitcoin doesn't steal from anyone, and the block rewards are payed from a fixed and limited supply to those who take the time and effort to secure the network. It is not a pyramid scheme.

Ok you think bitcoin is not a pyramid scheme, that's fine. But are you denying the block reward for bitcoin cuts in half over time to eventually reach a low of 0? Doesn't this mean if you mine at 50 BTC per block you are getting more than the guys you bring in to Bitcoin when it's 0 per block? Unless my math fails me, 50 is greater than 0. So every time a Bitcoin user educates his friends and family about Bitcoin, he is doing so under the guise that soon there will be less Bitcoin made, benefiting the early adopter who was mining at 50 bitcoins a block.

Again, unless my math fails me it seems like the people who get in earlier in Bitcoin make more coins, and by encouraging more people in, those new people make less coins giving greater value to the first coins.....

Of course Bitcoin isn't a pyramid scheme, I was just kidding around there friend. If anything is a pyramid scheme it's MicroCash, where fees are equally distributed back to the chain depending on the amount of MicroCash in them. If anything screams pyramid to me, it's a blockchain where fees are redistributed proportionally to the amount of MicroCash you have. Just because Bitcoins block values look like this

Code:
Bitcoin Block Rewards
      00
     *01*
    **03**
   ***06***
  ****12****
 *****25*****
******50******

Does not mean we can liberally use the word pyramid around Bitcoin. Thanks for clearing it up for us.

Try SolidCoin or talk with other SolidCoin supporters here SolidCoin Forums
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April 24, 2012, 02:11:18 PM
 #16

MicroCash is a pyramid scheme because it steals from the poor to give to the rich. Bitcoin doesn't steal from anyone, and the block rewards are payed from a fixed and limited supply to those who take the time and effort to secure the network. It is not a pyramid scheme.

Ok you think bitcoin is not a pyramid scheme, that's fine. But are you denying the block reward for bitcoin cuts in half over time to eventually reach a low of 0? Doesn't this mean if you mine at 50 BTC per block you are getting more than the guys you bring in to Bitcoin when it's 0 per block? Unless my math fails me, 50 is greater than 0.
Your math failed to teach you about addition. Miners receive transaction fees in addition to the block reward.

So every time a Bitcoin user educates his friends and family about Bitcoin, he is doing so under the guise that soon there will be less Bitcoin made, benefiting the early adopter who was mining at 50 bitcoins a block.
Irrelevant. He mines 50 bitcoins a block whether he gets other people involved or not, because the block reward isn't stolen from other users.

Again, unless my math fails me it seems like the people who get in earlier in Bitcoin make more coins, and by encouraging more people in, those new people make less coins giving greater value to the first coins.....
Yup, your math fails you again. Encouraging new people in has no effect whatsoever on the block reward.

Of course Bitcoin isn't a pyramid scheme, I was just kidding around there friend. If anything is a pyramid scheme it's MicroCash, where fees are equally distributed back to the chain depending on the amount of MicroCash in them. If anything screams pyramid to me, it's a blockchain where fees are redistributed proportionally to the amount of MicroCash you have.
There you have it folks, he admits the whole thing's a pyramid scheme. Can we go now?

Thanks for clearing it up for us.
Glad to be of service. Grin

Will pretend to do unverifiable things (while actually eating an enchilada-style burrito) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4
Etlase2
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April 24, 2012, 02:38:59 PM
 #17

Not to be a "hater" bro, your math is terrible.

Yeah true, shoulda stuck to the bottom 50% paying the top 50% like I said to you before, which it is, but it ain't gonna mean much to anybody but the top few.

Quote
100000 * 0.005 microcash (daily half cent fee) = 500 microcash total in fees

Now funny thing about that 100,000 number. It's actually 86k so let's go from there. 30k accounts will be gone in the first day. http://www.solidtools.net/addresses.php?page=1132
Another 40k or so more will be gone in the first three weeks. http://www.solidtools.net/addresses.php?page=278
13k * 0.005 = 65 microcash total in fees. Which means in three weeks you'll need ~215 coins to break even. That's the top 600. 600/13,000 = 4.5%. 95.5% paying the 4.5%. (and the top 12 get the majority of that, my bad)

k9quaint
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April 24, 2012, 02:52:30 PM
 #18

Hey look. It is Coinhunter here to flog his latest scheme.
We were right about the first one even though Coinhunter said we were all just trolls.
We were right about the second one even though Coinhunter said we were all just trolls.
We are right about the third one, hey look Coinhunter is calling us a bunch of trolls.
The wheels of the shortbus go round and round...

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April 24, 2012, 03:10:04 PM
 #19

Code:
Bitcoin Block Rewards
      00
     *01*
    **03**
   ***06***
  ****12****
 *****25*****
******50******

 Shocked

Let's make some Dogecoins together! http://doge.litemoons.com:9555
Syke
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April 24, 2012, 10:35:41 PM
 #20

Ok you think bitcoin is not a pyramid scheme, that's fine. But are you denying the block reward for bitcoin cuts in half over time to eventually reach a low of 0?

That is exactly what Bitcoin does, and has done since the very first day it was released more than 3 years ago. There have been absolutely zero changes to the block reward. It is that trust that has been built over time that makes Bitcoin successful.

Answer this: How many times has SolidCoin changed the reward scheme?

Pyramid scheme, bait-and-switch, pump-and-dump, I not sure which scam term is most accurate of SolidCoin, but make no mistake, SolidCoin is very much a scam designed to benefit early adapters at the expense of later adopters.

Buy & Hold
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