Post
Topic
Board Altcoin Discussion
Re: Coins with very short block times demonstrate incompetence
by
DeadEyeCool
on 21/05/2013, 04:10:16 UTC
Well, for what its worth, I was still able to solo mine 544 coins at launch with a measly 1.2 mash. Yes there were a lot of orphans, but things seemed to work themselves out.

I honestly don't think the orphan rate is that critical of a flaw when you gain INSTANT TRANSACTIONS.

Let's join the 21st century people, everyone expects payment to be instantaneous in this day and age.

If you want instant, then decentralized is not the solution.

Negative. We can have our cake and eat it too. Worldcoin has proven this.

If the network stays healthy, we are good to go. It hasn't even been a week since launch!

Really?  WorldCoin has proven this?  Which other coin has had an entire mining pool mining on an orphan blockchain for more than 300 consecutive blocks?

If vendors accept a coin with a short block time(like Worldcoin), it wouldn't matter how frustrated the miners got for overwhelming the network with a huge hash rate.
Traders would still trade, holders would still spend and vendors would still convert; regardless of the miners.
The death of a coin is going to depend on the adoption and infrastructure.

One can always see this as a way to discourage too many miners from throwing hashes at the network, and if there is a major acceptance of such a coin due to marketing, promotion, new software and speed.. then it will gain value and the miners will be the only ones with a problem, that is, only if they overwhelm the network.

The problem is when the orphan chain ends up being the main chain.  Now, you have real transactions taking place on the orphan chain -- someone is going to lose their coins.


There hasn't been any report of anyone 'losing coins' this way, except for mining orphans, which is to expected of any crypto. Even bitcoin has orphans.

With Bitcoins you will encounter an occasional orphan, not 300 orphans consecutively.


Prove it. And what was the current difficulty?