Quote from: Beave162 on November 13, 2013, 12:24:05 AM

Quote from: St.Bit on November 12, 2013, 09:34:53 PM

Quote from: aso118 on November 12, 2013, 02:13:49 PM

How long did it take for Bitcoin, Litecoin, and Novacoin to 'catch-on.' I think we sometimes forget the coin is only 6 months old.

EDIT: I emailed Cryptsy - YAC trading has been resumed.

That's something I always tend to forget, but damm these few months were painfull.
Never saw it coming that such a great crypto could loose so fast so much ...

I too am very optimistic. I think YACoin's crazy path so far is its greatest strength. The concept behind most of the other alt coins has been to reproduce the opportunity to get-rich-quick as many of the early investors of bitcoin have enjoyed. The problem is that that greedy mentality actually results in the opposite happening. I believe once you see the NFactor change and GPU mining becomes futile, the price will skyrocket back. I think the NUMBER of people with some amount of YACoin right now is large even compared to alts with a much greater marketcap at this point.

I am very optimistic too - and I have to agree, I think this crazy market it going to be it's greatest strength.

It seems though YAC value is so low right now because people are primary 'mining-and-dumping' this coin based on their precious profitability calculators. But this is similar to what happened with Bitcoin in the beginning. People mined thousands of coins and were willing to trade it for pennies (ie the 10,000 BTC pizza). People wanted 'quick-wins' and weren't looking at the long term of the coin.

Bitcoin was also 'inflated' and 'overpriced' in the beginning (~2010) and it took a major major crash for the coin to build a steady, and foundation, base to build the success it has today. I think YACoin is following this same trend to greatness.

YAC will last the test of time, because it isn't like other altcoins out there - it actually offers something new (while being highly functional and helpful to the user - one min confirmations, POS, N-increase, etc). The coin gets more difficult to mine with every N-increase and will soon only be efficient to mine with CPUs. With my GPU rig I get about 3 MH when mining Litecoins and only about 20 KH now when mining YAC. The N-increases might seem intense, or to be occurring too quickly right now, but when looking at all of the increases over the next 30 years - its a really good layout. And even if the difficultly does fall to a nominal number at some point in time, the coin is capped at 100 coins per block. YACoin is the best designed coin I've seen yet.

The way I see it... As the N-factor increases, the coin becomes more difficult to mine. The more difficult to mine, the less 'profitability' it will have. The less profitability it has, the less 'mine-and-dump' the coin will experience. Without dumpers and if we continue to edcuate the coummity on the unquie features of the coin more miners and investors will be attrached to this coin. I truly believe this crazy drop in market value will only make the coin stronger, and more valuable, in time.

Quote from: bitdwarf on November 13, 2013, 10:51:39 AM

Quote from: sairon on November 13, 2013, 10:00:35 AM

Reminder: only 5 days left to next Nfactor change!

I'd suggest to tune down the miners a little bit ahead of the change so they keep working through it, rather than let them hit the HW error wall and then tweak the settings.

Good call-out. Looks like I'll be getting 10 KH soon. LOL. And to think - someday, this is going to be a huge hash-rate for a single person to have for this coin!

Quote from: maxsolnc on November 13, 2013, 10:20:35 AM

yeah, and there are some cheap yac now on cryptsy Wink

edited: just noticed: someone needs only 23 BTC to increase YAC price ~12 times Grin

I seen this the other day too. And I considered dumping ~20 BTC into an exchange and trying to convert it to YAC. But if you look at the trading exchanges (Bter, Cryptsy, etc) there really aren't that many coins available for trade on the market. To me, this means there are lots of people who are happily holding there coins.

IMOP - This is just the beginning of YAC.