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Author Topic: Best <insert name>coins to speculate on  (Read 2878 times)
Spekulatius
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July 24, 2012, 06:55:53 PM
 #21

No it doesnt. It only means, that the bottom price for 1 LTC will be whatever it costs to mine that 1 LTC value equivalent (speak USD or BTC). Increasing the hashrate by manyfold, while the difficulty has not picked up yet also means very many LTC will be mined in that relatively short period of time, raising the total supply for that period. A price drop is much more likely then a price surge, because those extra LTC can be sold shortly thereafter. They may be held nonetheless and sold later, when prices stabilize or go up for any unrelated reason.

You still don't seem to understand how difficulty adjustments work, do you? There will always be the same amount of Litecoins mined at any given time. Just as it is with BTC.

Sorry buddy, but you are wrong. The block generation rate does not stay the same over time. It averages 10 minutes (for bitcoin) or 2.5 (for litecoin), but differs from that mean nearly always. When more blocks are mined in the same timeframe, more coins are produced. The difficulty is readjusted every 2016 blocks (in both bitcoin and litecoin). If it takes more then 2 weeks in bitcoin or 3.5 days in case of litecoin to mine those 2016 blocks the difficulty is lowered, if it takes less it is increased.
Now imagine a big addition of hashpower to the network: The remaining blocks of that cycle till the 2016th will be mined much faster then before the addition of extra hashpower, because difficulty stays the same and the network is more powerful now (smarter to solve a block, you could say). Only with the 2017th block mined, difficulty is readjusted towards the desired average of 2 weeks (BTC) or 3.5 days (LTC) for 2016 blocks to be found.

Links:
https://en.bitcoin.it/wiki/Difficulty
http://www.coinconnect.org/pages/view/31636/comparison-between-bitcoin-and-litecoin

I may have overlooked something, but I am quite sure that is how it works, please correct me if Im wrong.
Cheers
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Spekulatius
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July 24, 2012, 07:08:27 PM
 #22


What do you guys think will provide the most promising speculation opportunities in this arena?
What has the best potential and when will we see the first major movements?


I'd say namecoin of course because it has the most potential and is really different from bitcoin with additional features.

It does. But tatsuchan mentioned before, that it faces some serious problems:

Quote
Namecoin is one of those ideas that are great, but fail.  I REALLY want to see a different domain structure, but the internet is commercialized now.  I'm skeptical that this will work for most commercial sites.  Most people don't want a wikileaks.  They want a buy-my-shit-cheap.com website.  It has to attract visitors, has to answer to local laws, has to keep track of sales and user info in order to sell you more cheap shit, and most importantly, it is often set up my some cookie cutter program for some middle-aged guy trying to make a dollar on that newfangled internet thing.  How are they going to know what namecoin and .bit is when most of us barely understand it?  The only reason anyone cares about namecoin at this point is because at it's heart it is a good idea, but really, you get it free while bitcoin mining.

I really dont understand yet the scope of namecoins feautures and mechanics that seperate it from bitcoin. May someone with a better understanding please give a bit of an explanation?

@ tatsuchan: Could you please explain a little bit more, why namecoin may fail in the longrun and how big those problems you see may be(come)? Why is namecoin in your oppinion inferior to the established domain system and cannot its "impossible-to-close-down" nature make up for any monetary expenses?

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with the next namecoin based project the price might jump.

What could such projects be? Any in the pipeline? nameterrific.com?
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July 24, 2012, 08:13:32 PM
 #23


What do you guys think will provide the most promising speculation opportunities in this arena?
What has the best potential and when will we see the first major movements?


I'd say namecoin of course because it has the most potential and is really different from bitcoin with additional features.

It does. But tatsuchan mentioned before, that it faces some serious problems:

Quote
Namecoin is one of those ideas that are great, but fail.  I REALLY want to see a different domain structure, but the internet is commercialized now.  I'm skeptical that this will work for most commercial sites.  Most people don't want a wikileaks.  They want a buy-my-shit-cheap.com website.  It has to attract visitors, has to answer to local laws, has to keep track of sales and user info in order to sell you more cheap shit, and most importantly, it is often set up my some cookie cutter program for some middle-aged guy trying to make a dollar on that newfangled internet thing.  How are they going to know what namecoin and .bit is when most of us barely understand it?  The only reason anyone cares about namecoin at this point is because at it's heart it is a good idea, but really, you get it free while bitcoin mining.

I really dont understand yet the scope of namecoins feautures and mechanics that seperate it from bitcoin. May someone with a better understanding please give a bit of an explanation?

@ tatsuchan: Could you please explain a little bit more, why namecoin may fail in the longrun and how big those problems you see may be(come)? Why is namecoin in your oppinion inferior to the established domain system and cannot its "impossible-to-close-down" nature make up for any monetary expenses?

Quote
with the next namecoin based project the price might jump.

What could such projects be? Any in the pipeline? nameterrific.com?


I would love to start one had I the time.

check out potential use cases, for example here: http://bitcoinx.com/namecoin/n 

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July 24, 2012, 09:49:15 PM
 #24

And how is namecoin better in those use cases then existing solutions?
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July 25, 2012, 11:49:58 AM
 #25

And how is namecoin better in those use cases then existing solutions?
it is decentralized and free from censorship.

how is bitcoin better?

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July 25, 2012, 11:51:41 AM
 #26

yes but bitcoin solves problems in the money system that MUST be addressed sooner or late.

namecoin is a clever idea but it appears to be solving a problem that does not exist now and probably will never exist.

big difference.

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July 25, 2012, 01:46:16 PM
 #27


What do you guys think will provide the most promising speculation opportunities in this arena?
What has the best potential and when will we see the first major movements?


I'd say namecoin of course because it has the most potential and is really different from bitcoin with additional features.

It does. But tatsuchan mentioned before, that it faces some serious problems:

Quote
Namecoin is one of those ideas that are great, but fail.  I REALLY want to see a different domain structure, but the internet is commercialized now.  I'm skeptical that this will work for most commercial sites.  Most people don't want a wikileaks.  They want a buy-my-shit-cheap.com website.  It has to attract visitors, has to answer to local laws, has to keep track of sales and user info in order to sell you more cheap shit, and most importantly, it is often set up my some cookie cutter program for some middle-aged guy trying to make a dollar on that newfangled internet thing.  How are they going to know what namecoin and .bit is when most of us barely understand it?  The only reason anyone cares about namecoin at this point is because at it's heart it is a good idea, but really, you get it free while bitcoin mining.

I really dont understand yet the scope of namecoins feautures and mechanics that seperate it from bitcoin. May someone with a better understanding please give a bit of an explanation?

@ tatsuchan: Could you please explain a little bit more, why namecoin may fail in the longrun and how big those problems you see may be(come)? Why is namecoin in your oppinion inferior to the established domain system and cannot its "impossible-to-close-down" nature make up for any monetary expenses?

Quote
with the next namecoin based project the price might jump.

What could such projects be? Any in the pipeline? nameterrific.com?

I'm not a developer, I'm a graphic artist.  I understand some technologies are more open/free/possibly better.  I also recognize that the web is a popularity contest.  It takes a long time, lots of trust, TONS of luck, and deep investing pockets to shove crap down people's throats.  There is a law of seven in the marketing world.  People usually don't care about your product/business until they see it in seven different places.  Then it is "trusted" and of interest.

Maybe namecoin might get to this point.  Realistically, smart phones and mothersites (Facebook/youtube) will hold all the cards for future web development.  Where did you even hear about bitcoin in the first place?  MySpace, 4chan, digg, redd.it?
Spekulatius
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July 25, 2012, 01:54:18 PM
 #28

Where did you even hear about bitcoin in the first place?  MySpace, 4chan, digg, redd.it?

I think it was 1 year ago on aljazeera.com where I read about the incredible rally of June 2011.
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July 25, 2012, 02:23:25 PM
 #29

Where did you even hear about bitcoin in the first place?  MySpace, 4chan, digg, redd.it?

I think it was 1 year ago on aljazeera.com where I read about the incredible rally of June 2011.
Imagine that, right? You didn't hear about it from the inner circle of cryptography enthusiasts?  I could give a shit about prime numbers and the greatest algorithm.....whatever.  Will it make money? How hard is it to use?  How much investment/time will it take.  What are the risks.  

With Bitcoin you buy a coin, it looks like it is going up in value.  It is a stock.  Has short term and long term market appeal. Makes sense.

Namecoin is a technology with it's success depending on all sorts of development factors.  It is GREAT for what it is, but it is going to have to answer those questions above before it is commonplace and usable. As a stock it is doing terrible, and doesn't make sense.

I don't have all the answers, and this is a SPECULATION thread, but that is my 2 cents on the topic.   Cheesy
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July 25, 2012, 02:24:24 PM
 #30

BBQCOIN

+1
VelvetLeaf
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July 25, 2012, 02:36:24 PM
 #31

- Early adopter coins (EA Coins)
No one will really complain even if it's not successful because everyone in this forum already mined 1,000,000 of them in day 1 when difficulty is 0.

BTC : 1GN81dxzxyFPQsyAtdocXr5S9Mcg4wcfFG
LTC : LgmYvXsYXc4xdjsMKXJWqtagxVvioK6iaw
FC : 6dpSnKMtttUUYzaRu1EB7Lu18PBRVHU3V7
Spekulatius
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July 25, 2012, 09:00:49 PM
 #32


STOP IT! NO BBQ SPOOK IN MY THREAD!!!

BUY ★☆★SPEKULATIUS COINS☆★☆ FOR THE LOVE OF ASS SLAPS AND NUT KICKS, GODDAMIT!!
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July 25, 2012, 09:05:05 PM
 #33

Where did you even hear about bitcoin in the first place?  MySpace, 4chan, digg, redd.it?

I think it was 1 year ago on aljazeera.com where I read about the incredible stupid rally of June 2011.

People were stupid buying bitcoins back then when it hit the 20's and then 31.

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Spekulatius
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July 25, 2012, 11:02:43 PM
 #34

Now lets carry on, shall we?

Maybe the most pressing question at this time:

Is buying LTC right now a wise move or financial suicide?
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July 25, 2012, 11:27:37 PM
 #35

Now lets carry on, shall we?

Maybe the most pressing question at this time:

Is buying LTC right now a wise move or financial suicide?

Well there are 4 possibilities:

1. The attack goes through and the investment was wasted
2. The attack fails independently of other actions and it is a tremendous bargain
3. Significant LTC are bought during the 5 day period driving up price and Hashrate making the attack fail being a epic bargain.
4. The attack was a hoax and it is a slight bargain

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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July 26, 2012, 04:36:28 AM
 #36

bitcoin is a clever idea but it appears to be solving a problem that does not exist now and probably will never exist.

big difference.

And how is bitcoin better in those use cases then existing solutions?

you guys sound so 2010  Grin


there are a couple of niches for namecoin and I think sooner or later it (or something very similar) will take off from one.

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Spekulatius
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July 26, 2012, 12:40:24 PM
 #37


there are a couple of niches for namecoin and I think sooner or later it (or something very similar) will take off from one.

What niches are you thinking of? Is there really no way existing solutions could fill those niches?
Spekulatius
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July 26, 2012, 01:27:38 PM
 #38

Now lets carry on, shall we?

Maybe the most pressing question at this time:

Is buying LTC right now a wise move or financial suicide?

Well there are 4 possibilities:

1. The attack goes through and the investment was wasted
2. The attack fails independently of other actions and it is a tremendous bargain
3. Significant LTC are bought during the 5 day period driving up price and Hashrate making the attack fail being a epic bargain.
4. The attack was a hoax and it is a slight bargain

What do you think are the chances for the attack to be successful vs. it fails?

What are indicators in advance to see whether option A or B will become reality?
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July 26, 2012, 01:31:54 PM
 #39

Wow, so many topics to discuss today   Grin:

What do you guys think will Zhoutong's entanglement and new incriminating evidence in the lastest bitcoinica hack mean for namecoin (because of nameteriffic.com, the next BIG project in the namecoinverse)?
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July 26, 2012, 10:21:56 PM
 #40

bitcoin is a clever idea but it appears to be solving a problem that does not exist now and probably will never exist.

big difference.

And how is bitcoin better in those use cases then existing solutions?

you guys sound so 2010  Grin


there are a couple of niches for namecoin and I think sooner or later it (or something very similar) will take off from one.
I'd like to know too.  I don't follow namecoin, but haven't seen any reason to either.  I'm here in the forum more often then is mentally healthy and haven't seen any reason yet.  Anything can happen with these alt currencies, so who knows.
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