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Showing 12 of 12 results by MasterOfCoin
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Board Announcements (Altcoins)
Re: [ANN] Ethereum: Welcome to the Beginning
by
MasterOfCoin
on 13/11/2014, 19:34:12 UTC
"Counterparty announced that its developers have successfully ported the Ethereum Project’s programming language over to the Counterparty platform, enabling users to save and execute Turing Complete Ethereum code on the Bitcoin blockchain. With this new development, Counterparty makes it possible to execute Ethereum smart contracts on the more secure Bitcoin blockchain."

How will this affect Ethereum? Will the Counterparty-Ethereum platform be slow? Can it be scalable? Anyone have any thoughts?

https://www.cryptocoinsnews.com/counterparty-recreates-ethereum-bitcoin/

I suppose this article on coindesk provides a good enough answer to my question/concern.
http://www.coindesk.com/counterparty-ignites-debate-ethereum-software-integration/
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Board Announcements (Altcoins)
Re: [ANN] Ethereum: Welcome to the Beginning
by
MasterOfCoin
on 12/11/2014, 19:24:22 UTC
"Counterparty announced that its developers have successfully ported the Ethereum Project’s programming language over to the Counterparty platform, enabling users to save and execute Turing Complete Ethereum code on the Bitcoin blockchain. With this new development, Counterparty makes it possible to execute Ethereum smart contracts on the more secure Bitcoin blockchain."

How will this affect Ethereum? Will the Counterparty-Ethereum platform be slow? Can it be scalable? Anyone have any thoughts?

https://www.cryptocoinsnews.com/counterparty-recreates-ethereum-bitcoin/
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Board Announcements (Altcoins)
Re: [ANN] Ethereum: Welcome to the Beginning
by
MasterOfCoin
on 14/07/2014, 00:31:08 UTC
Thank you Stephan!

Since the algo is cpu centric, is it possible for Ethereum to prevent a large botnet from taking a large share of the mining?
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Board Announcements (Altcoins)
Re: [ANN] Ethereum: Welcome to the Beginning
by
MasterOfCoin
on 12/07/2014, 15:30:12 UTC
i believe the success of dogecoin was in part due to the inclusiveness of the community surrounding the coin. it's not intimidating. not full of savvy people who attitude is along the lines of - i learned cyrpto on my own, why can't you do the same?... or the answer is out there, you're just not looking hard enough. looking at the ethereum forum you can tell that the community is not inclusive to the general public, at least not right now it isn't. and i understand.

the willingness of the community to answer "stupid questions" and to help guide / make clear to those who are a little lost is one indication of the attitude of ethereum and the attitude of the early adopters/inverters. how this will effect this crypto is anyone's guess.

to answer my own question... as far as i have seen, the mining algo works on the test client... i've mined some ether.  but like vitalik have mentioned, ether, in theory, can be mined with cpu, gpu, memory and bandwidth. i would like to have something more concrete, more finalized in therms of the mining algo since we are no more than 6months away from launch. pref to have something before the sale. unless i am wrong, and the algo is already something finalized, please enlighten me. thank you.
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Board Announcements (Altcoins)
Re: [ANN] Ethereum: Welcome to the Beginning
by
MasterOfCoin
on 03/07/2014, 16:41:02 UTC
no one else is concerned with Ethereum not having a mining algorithm yet?
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Board Announcements (Altcoins)
Re: [ANN] Ethereum: Welcome to the Beginning
by
MasterOfCoin
on 15/06/2014, 00:38:36 UTC
51% Throttling

Since ether can theoretically be mined via CPU, GPU, HHD, and participating in a WMN, would it be a good idea to limit one way of mining to let say, 50 percent? For example, CPU generated ether cannot exceed 50 percent of the total ether in the network at the time it is mined. Ether generated by CPU will be throttled accordingly as it reaches 50% of the total supply of ether and all other ways of mining will be increased accordingly. This of course would mean that there must be a way to distinguish ether that is mined with CPU, GPU, and all others.

The idea behind 51% throttling is to make it difficult for a single organization to dominate the ether mining game. Additionally, there are a few other benefits from throttling. Throttling will encourage innovation in all forms technologies used for mining. For instance, if most of the ether is mined with CPUs and least of which is mined with HHDs and SSDs, the mining algorithm can (1) take ether mined with CPU and give it to people who are mining with HHDs or (2) lower the reward of ether to CPU miners and increase the reward to HHD miners. As a result, for the time being, more people will start to mine with SSDs and more people will buy SSDs, which will cause SSDs to become faster, higher capacity and cheaper. Every form of technology used for mining ether will go through this continuous cycle of mining and technological improvement.
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Board Bitcoin Discussion
Re: making bitcoin subdivisions more palatable to the general audience
by
MasterOfCoin
on 12/05/2014, 18:24:18 UTC
more on the notion of using "bitcoin dollar" and "bitcoin cent." i think it's incredibly important to be reminded of the past while the attempt is made to move forward. in a similar way to the blockchain whereby keeping a permanent record is essential to its function, the words "dollar" and "cent" should be kept on the record and in the forefronts of the cryptocurrency... as a tatoo, a scar, a constant reminder to those of us who so easily forget where we came from, the mistakes we've made, and what we've learned.
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Board Bitcoin Discussion
Re: making bitcoin subdivisions more palatable to the general audience
by
MasterOfCoin
on 10/05/2014, 22:44:04 UTC
The problem with this idea is that there are plenty of places in the world where dollars (or anything else with connotations to the US for that matter) are not viewed in the most positive light (to put it mildly).  While I'm sure it would make sense for people in Western countries, we have to remember that bitcoin is a global currency.  It's understandable that most of us in the English speaking part of the forum will have a western-centric outlook of the world and it's easy to forget that people in other places will have radically different views.  Bitcoin at it's core is a neutral and unbiased algorithm, so we should stick with new and neutral denominations.

yeah i  agree with the bitcoin ecosystem being neutral and being unbiased. i suppose with the terminology should reflect that as well. and i guess i was hoping people can overlook the negative connotations associated with the dollar and use the term dollar as a reminder of what was and where we (not just talking about people in the US, but as a blanket for fiat) came from
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Board Bitcoin Discussion
Re: making bitcoin subdivisions more palatable to the general audience
by
MasterOfCoin
on 10/05/2014, 22:30:41 UTC
I believe that you have no idea what bitcoin is about. Bitcoin is supposed to be a currency, and the world doesn't need the dollar. The US's endless ponzi cycles are already beginning to break, and Bitcoin is starting to triumph.

Saying that a crumb of a pie is worth 1000 pies? You are wrong. 1BTC = 1BTC. We don't need other exchange rates once Bitcoin shines above all the others.

i'm using the term dollar as a word, not as $ or the money itself. bitcoin will not triumph without enough adoption from the peoples. i'm only attempting to make a smooth transition over to bitcoin from the dollar. if you have a better suggestion please share it with us.

Then why when the European Union adopted the Euro, why didn't they call it something else that already exists?
Because things have to be change and be unique, otherwise no one will remember it. "Bits" is okay. "Cents" isn't.

thanks for the discussion. yeah i can certainly see it that way for sure. i guess i'm one who would like to remember or be constantly reminded of the past/history as i move forward in life. i suppose that's where my inspiration for what i came up with came from. i broke my leg over a year ago and when i was in a wheelchair i never thought i would walk again. i can walk, run and jump now, but i like the fact that i can feel and kinda see where my fibula fractured and i use that to motivate me to do all kinds of things today
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Board Bitcoin Discussion
Re: making bitcoin subdivisions more palatable to the general audience
by
MasterOfCoin
on 10/05/2014, 22:18:32 UTC
I believe that you have no idea what bitcoin is about. Bitcoin is supposed to be a currency, and the world doesn't need the dollar. The US's endless ponzi cycles are already beginning to break, and Bitcoin is starting to triumph.

Saying that a crumb of a pie is worth 1000 pies? You are wrong. 1BTC = 1BTC. We don't need other exchange rates once Bitcoin shines above all the others.

i'm using the term dollar as a word, not as $ or the money itself. bitcoin will not triumph without enough adoption from the peoples. i'm only attempting to make a smooth transition over to bitcoin from the dollar. if you have a better suggestion please share it with us.
Post
Topic
Board Bitcoin Discussion
Topic OP
making bitcoin subdivisions more palatable to the general audience
by
MasterOfCoin
on 10/05/2014, 21:29:08 UTC
with 21 million bitcoins to split up among 7 billion people, it is safe to say that most people will never own or use a full bitcoin. in march of this year, the attempt to popularize milli-bitcoin was largely unsuccessful for various reasons.

i propose we rename sub-dinominations of bitcoins to “bitcoin dollar,” “bitcoin cent,” and “satoshi.”

1.   since the dollar is the world reserve currency, dollars and cents should be most familiar with people around the world in the sense that the words “dollar” and “cent” are already on the tips of people’s tongues.

2.   a small fraction of a pie is not particularly appetizing… so the idea of a thousandth or millionth of a bitcoin to people is like the idea of breaking up a delicious apple pie into crumbs and saying that since that apple pie is worth 1000 apple pies, then a piece of crumb from that pie would be equality as filling and satisfying to eat as a single slice of pie. not gonna happen…

http://www.shonblog.com/wp-content/uploads/bitcoin.jpg

1 bitcoin = 1000 bitcoin dollar
1 bitcoin dollar = 100 bitcoin cent
1 bitcoin cent = 1000 satoshi

the conversion ratio may be a bit confusing at first, but i believe people will pick it up rather quickly.
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Board Announcements (Altcoins)
Re: [ANN] [GIRL] [BOY] Girlcoin and Boycoin Easter Egg Launch (18-04-2014)
by
MasterOfCoin
on 26/04/2014, 18:21:36 UTC
Under specifications on the official site, add "for Justin Bieber to go retirement." I think the retirement part is the kicker for this coin.