Re: [CryptoNote] A complete forking guide to create your own CryptoNote currency
Anyway, it's all stupid because at the moment only XMR is advancing towards that goal of mass adoption whereas the one hurting that goal are the designers of the technology.
It's already a politcal movement that looks a lot like bitcoin. It's a wonder such smart people can't see it - ah greed !
It's already a politcal movement that looks a lot like bitcoin. It's a wonder such smart people can't see it - ah greed !
^This
Nobody failed, and nobody succeeded on the mass adoption way, in the world of cryptonote. This is just too hearly.
But I hardly believe creating dozens of copy-coins with slightly different numbers is going to help mass adoption of anything.
Do you think that something like http://www.coingen.io/ ever brought anything useful?
I'm really disgussed by 99% of the alt-coin world with useless copy-cats and so little innovation, so much greed and so little normal open-source spirit cooperation, etc. I find it sad that cryptonote is apparently taking that way. Since that makes me sad, I wonder what are the motives behind, this is a legitimate reaction.
The problem with altcoins is, effectively they are all fighting for hashrate. This is bad as it makes every network kind of insecure, the more coins are out the more hashrate is spread around them, in the end noone of those networks is secure.
So - it makes absolutely no sense to put out x coins especially when they use the same proof of work, theres absolutely no way to secure a small coin with a small hashrate.
Auroracoin was mentioned earlier as an example and that is the worst example you can take, there is simply no way a bunch of icelandic people can secure the blockchain against a malicous attacker.
Look at this: http://www.coinwarz.com/cryptocurrency/coins/auroracoin
They dont even have 1 ghash nethash, that means 3x KNC Miner Titan could 51% attack them easily.
Dogecoin is also a nice example, they had more hashrate than Litecoin and could effectively damage them if they wanted to.
This is my point, why this move is somewhat akward and dangerous.
PS: i currently consider only Bitcoin and maybe Litecoin as secure when it comes to that point.