Post
Topic
Board Altcoin Discussion
Re: [ANNOUNCE] SolidCoin - new and improved block chain. Secure from pools
by
Chris Acheson
on 29/08/2011, 04:54:58 UTC
You are wrong. The developers aren't going to change some core things in Bitcoin, I already discussed this with some of them prior to making SolidCoin. The consensus from them was it was never going to change, and there was no purpose to it.

Maybe you should have taken the peer review seriously.

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You sound like them, are you one?

Nope.

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What these "developers" don't understand however is that people that use Bitcoin, actually want fast confirmations. They want a fast network. This is why SolidCoin is successful, it's fast and always will be. My other protocol changes are intelligently designed to protect SolidCoin from a variety of attacks that Bitcoin cannot.  This isn't subjective, it's something that Bitcoin doesn't do that SC does. Your argument that "it's easy to make those changes" is irrelevant because no one before me made those changes and Bitcoin is still vulnerable to them regardless of your banter.

3 minute blocks are the only thing that SolidCoin has going for it.  Your other protocol changes:

  • Difficulty retargets more often
  • Difficulty increases limited to +10% per retarget
  • Block reward changed from 50 to 32
  • (Again, anything else?  Seriously, if I missing anything, I'd like to hear specifics from you, instead of hand-waving)

...are all irrelevant to Bitcoin.  Only the more frequent difficulty retargeting actually defends SolidCoin from anything, and it's an attack that Bitcoin isn't even vulnerable to.  In order to get Bitcoin stuck in the same difficulty trap that Namecoin and Ixcoin are currently in, you'd have to destroy miners' faith in the future value of the currency in a very short amount of time.  If you can pull that off, Bitcoin would be pretty much dead anyway, so whatever.

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If Bitcoin was to adopt them it's going to be a major PITA getting people to accept it.

And it would be a major PITA to get any significant number of people to switch over to SolidCoin too.

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On top of the protocol improvements SolidCoin's start has been many times more fair than Bitcoins.

Bullshit.  Bitcoin was publicly announced when the blockchain was started.  It took two years to reach a price of $1.  There was ample time to buy/mine plenty of bitcoins if you thought it was going to take off.  Most people (myself included) didn't think it would and didn't bother.  If SolidCoin were to ever take off, it'll be the same situation.

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and see why people are jumping aboard.

From the price and hashrate charts, it looks more like people are jumping overboard.