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The launch was bad. The coin is good. Otherwise it wouldn't still be going after 8 months.
I think, they have done a good 'marketing' with this coin, but there are too many 'proofs'' and issues with Darkcoin to not handle it very carefully.
Miners and investors are the one that give a coin its value; Not all of them have the knowledge of how a cryptocurrency has to work. Anyway, they have here enough materials to dig a little further, and check by themselves if they can have trust or not.Always check by yourself, or take your chances and we will see...
You are right; Darkcoin is only the most successful alternate 2014 scam: This thread summary well what developers and others have done: https://bitcointalk.org/index.php?topic=754521.0 and this article: http://www.cryptobang.com/2014/08/27/investigation-of-darkcoin/ There are too many issues with this coin to be only a 'novice' developer mistake; All the issues were set on purpose, and added from a fork of the proper, non faulty and well designed 'litecoin' source code.
These pump and dump, and other better structured scam coins, only kill the trust of investors and miners; We may just hope that the trust will be back one day. But anyway the trust will never come back if these scam coins are still around. 'Ejecting' these bad coins is a goal by itself for the sake of alternates.
No. This is wrong. Darksend is not "only a CoinJoin" implementation. It's not like he copied it and put it there.These pump and dump, and other better structured scam coins, only kill the trust of investors and miners; We may just hope that the trust will be back one day. But anyway the trust will never come back if these scam coins are still around. 'Ejecting' these bad coins is a goal by itself for the sake of alternates.
It's Evans personal CoinJoin implementation. What does this mean exactly? If I modify my OS (win7) you can't oh it's only Windows 7. The anonymity works now, so that point is also wrong.
Moving on in the article it keeps getting worse. Some of these points are not even really related to Darkcoin nor the developer.
Blockchain forks are bad? Unexpected price drops?
I was there the week when the coin was launched, I've checked the code. And that's right, some strange 'bugs' are there. This is quite bizarre for a 2014 coin stated as an innovative one; If you are looking for a 'trusty' 2014 coin; this is definitely not the right one.The facts given in the other thread can be checked, the instamine issue is there and can't be denied. And these issues have consequences. Can we really trust a faulty coin?
8 months on? Yes you can trust it.
Because any "scam" would have been actualised by now. Whereas the devs are hard at work every day. Which they wouldn't need to be if it were a scam.
That cryptobang article is written by a pay per article troll.
http://wiki.darkcoin.eu/wiki/FAQ#Was_Darkcoin_Instamined.3F
Do have an idea why most alternates have decreased in value? A lot of investors have lost a lot of money with these 2014 coins. And even the fair and good coins are impacted.
Do you really think that good and honest information is available on the official Darkcoin thread? There are a lot of hype messages without any real value. I'm not a detractor, but when you look closely at what happened at the beginning, the source code, I have not followed the following stage.And what happens now; I recognized that using the word 'scam' like a post before is fair with darkcoin.
Anyway 'darkcoin' doesn't have what bitcoin, and litecoin have, trusty and honest developers who have a higher goal than filling their pockets with hype marketing and software 'tricks'.
Can you really prove that there is no instamine, no strange bugs, and that the cryptocurrency concepts like POW is well implemented without strange pass-through... Really?
Before investing in any coin some rules: Check everything by yourself; the trust comes later. In the darkcoin case a lot of money is at stake, a lot of people are really doing wishful thinking; But the reality is there.
The current price of 1.253 BTC per L1 unit is an insane price! Things to consider:
(1) The unit is priced in USD (not bitcoin) so if you buy you are effectively selling you bitcoin at a 3 month low (face palm)
(2) The scyptcoin market is on its last breath and even the most optimistic projects show the L1 MIGHT (if difficulty increase is less than 2%) make a small profit. There just isnt enough upside to risk that amount of bitcoin.
(3) A 3 month preorder is insane. 3 months is this game is an eternity, especially considering how much the scrypt market has gone down. Just three months ago LTC was over $11 today its <$5.
Summary: Even assuming best case scienaro (on time shipping, low diff rise, LTC prices dont continue to fall) this unit will not be profitable.
(1) The unit is priced in USD (not bitcoin) so if you buy you are effectively selling you bitcoin at a 3 month low (face palm)
(2) The scyptcoin market is on its last breath and even the most optimistic projects show the L1 MIGHT (if difficulty increase is less than 2%) make a small profit. There just isnt enough upside to risk that amount of bitcoin.
(3) A 3 month preorder is insane. 3 months is this game is an eternity, especially considering how much the scrypt market has gone down. Just three months ago LTC was over $11 today its <$5.
Summary: Even assuming best case scienaro (on time shipping, low diff rise, LTC prices dont continue to fall) this unit will not be profitable.
For me this L1 seems a pure gamble. Need to wait and watch.
Risk is too much to pre-order now. L1 ROI or not is a different topic.
And BITMAIN may test them in his farm before sending them. We have to wait, and avoid the pre-order.
You are right; Darkcoin is only the most successful alternate 2014 scam: This thread summary well what developers and others have done: https://bitcointalk.org/index.php?topic=754521.0 and this article: http://www.cryptobang.com/2014/08/27/investigation-of-darkcoin/ There are too many issues with this coin to be only a 'novice' developer mistake; All the issues were set on purpose, and added from a fork of the proper, non faulty and well designed 'litecoin' source code.
These pump and dump, and other better structured scam coins, only kill the trust of investors and miners; We may just hope that the trust will be back one day. But anyway the trust will never come back if these scam coins are still around. 'Ejecting' these bad coins is a goal by itself for the sake of alternates.
No. This is wrong. Darksend is not "only a CoinJoin" implementation. It's not like he copied it and put it there.These pump and dump, and other better structured scam coins, only kill the trust of investors and miners; We may just hope that the trust will be back one day. But anyway the trust will never come back if these scam coins are still around. 'Ejecting' these bad coins is a goal by itself for the sake of alternates.
It's Evans personal CoinJoin implementation. What does this mean exactly? If I modify my OS (win7) you can't oh it's only Windows 7. The anonymity works now, so that point is also wrong.
Moving on in the article it keeps getting worse. Some of these points are not even really related to Darkcoin nor the developer.
Blockchain forks are bad? Unexpected price drops?
I was there the week when the coin was launched, I've checked the code. And that's right, some strange 'bugs' are there. This is quite bizarre for a 2014 coin stated as an innovative one; If you are looking for a 'trusty' 2014 coin; this is definitely not the right one.The facts given in the other thread can be checked, the instamine issue is there and can't be denied. And these issues have consequences. Can we really trust a faulty coin?
Re: [ANN] Extremecoin (EXC) - MANDATORY UPGRADE VERSION 1.5 (Kimoto Gravity Well)
EXC trading is now live on SwissCEX: https://www.swisscex.com/market/EXC_BTC.
I had some part in making it happen.
I had some part in making it happen.
Great news!
The other thread: https://bitcointalk.org/index.php?topic=577647.20
Re: [ANN] Extremecoin.org (EXC) BBQcoin.org (BQC) (Omega6) Updates
Has EXC now swapped to PoS?
Not yet, but this will be done.
Re: [ANN] Extremecoin.org (EXC) BBQcoin.org (BQC) (Omega6) Updates
EXC trading is now live on SwissCEX: https://www.swisscex.com/market/EXC_BTC.
I had a hand in making that happen.
I had a hand in making that happen.
Great news for a wonderful coin!
Re: [ANN][DOGE] Dogecoin - very currency many coin - v1.8 Required Update
So you think doge should be worth over $5 billion?
That analysis is wrong on so many levels.
Doge will have a massive run and it will make new record highs but at best it will be worth about $1 billion. Which for a totally inflated ShitCoin is unreal.
At $1 billion it would be a return of 100 fold from today's $10 million market-cap which would be a 10,000% increase or 2,500 Satoshi.
This is a best case scenario for Doge which would only happen if they're added to BitPay/Coinbase and their hedge fund backed marketing machine kicks into high gear and they significantly slow down their massive imfsltion rate.
Cheers!
That analysis is wrong on so many levels.
Doge will have a massive run and it will make new record highs but at best it will be worth about $1 billion. Which for a totally inflated ShitCoin is unreal.
At $1 billion it would be a return of 100 fold from today's $10 million market-cap which would be a 10,000% increase or 2,500 Satoshi.
This is a best case scenario for Doge which would only happen if they're added to BitPay/Coinbase and their hedge fund backed marketing machine kicks into high gear and they significantly slow down their massive imfsltion rate.
Cheers!
You do realise $5 billion for a currency is, to use your term, shitcoin compared to conventional currencies which rank in the trillions of USD. That's not a target to hit, that's a minor stepping stone. Excellent progress for a 5 year old currency, but not by any means a destination. So, yes, any successful crytocurrency should be targeting substantially more than half the market cap of Snapchat [Suspicious link removed]j.com/articles/snapchat-fetches-10-billion-valuation-1409088794)
Do you see the news:"Citi: Miners and Merchants Are Keeping Bitcoin Prices Low"
That is what I worried for a long time.
People and company have no reason to keep Cryptocurrenc, if it's inflation higher than USD.
So reduce to 1 Billion new dogecoin every year could change this trend. Then the inflation is 1% lower than USD. Then comany could keep the cryptocurrenc, maybe bank could use cryptocurrenc for a loan later.
This is not the main issue we have. We had multipools, and a lot of miners that sold every coins they got, their only goal were to get BTC. This behavior decreases alternate coins value. We had hundred of useless coins, this had a maximum dilution effect; and all the scams around IPO/ICO, pump and dump scheme etc...
For a coin to get value we need investors, and to have investors we need trust. The previous behavior kills the trust. It will take time to recover.
The instamine. The masternode implementation with the 20% steal of POW blocks. This is a concern. Anyway we can be sure that these features describe in the official 'thread' as innovation are driven by a scam goal.
It wasn't instamined. I was there at the start and mined from my linux as well.First come first serve, don't complain because you didn't get a piece of the pie.
Exactly how are MN payments a scam feature? Are the developers getting that money? Sigh.
Besides payments will be enforced soon, so pools avoiding this will be useless.
You may say that, but some bugs are set on purpose; And the ones that had the big farms at this time had more coins than the 'specs' of the coin will allow... And the coins 'scattering' process was altered with too much coins generated at the beginning. With all the good alternates we have, such an issue is more than problematic. The 20% 'innovation' is also more than a concern.
We must stop scam coins, and scams behavior for the alternates to live.
stop doing them period.
this is not the stock market etc with Regulations..
it is NOT appropriate for these scamming fuckheads to apply shares, ICO/IPO's to an existing SCAM MARKET.
This shit was already pretty damn scammy as it is.
those just made it way worse..
they provide an easier way for them to hide their scams.. that is it !
this is not the stock market etc with Regulations..
it is NOT appropriate for these scamming fuckheads to apply shares, ICO/IPO's to an existing SCAM MARKET.
This shit was already pretty damn scammy as it is.
those just made it way worse..
they provide an easier way for them to hide their scams.. that is it !
ICO/IPO is one of the great idea that kills the alternaters. You have to stop these scams.
just wanted to report that all nine of my S3 ants have been running flawlessly at 500+g/hs all month long.
i have not had to reboot a single one of them for the last three weeks.
my S3 ant farm colony is running as stable and strong as the my S1's.
of course i did make some mods before i started running them.
the above screenshot is what i see every day all the time without any reboots.
thanks bitmain for the great miners!
i have not had to reboot a single one of them for the last three weeks.
my S3 ant farm colony is running as stable and strong as the my S1's.
of course i did make some mods before i started running them.
the above screenshot is what i see every day all the time without any reboots.
thanks bitmain for the great miners!
Have you added SMD capacitors (e.g. 22µF ceramic) on the DC-DC converters, or an other trick to ensure the stability, and to improve a little the power efficiency? An other trick?
Re: [ANN] Extremecoin (EXC) - MANDATORY UPGRADE VERSION 1.5 (Kimoto Gravity Well)
There are lots of ideas on the whiteboard stage right now, with pros and cons with pretty much any direction code wise, we wish to head in.
The main focus for Extremecoins future goals are:
1) To increase network security.
2) Develop a wallet client for every device, giving it access to as many users as possible. (Windows popularity is decreasing)
3) Maintain the widespread global coin coverage that Extremecoin seems to have at the moment.
4) Reduce Hoarding and promote its use.
5) Getting added to payment processors. You can already buy Extremecoin with Chinese Yen on BTER.com
6) Possibly block chain integration into the desktop wallet clients.
There are lots more points and ideas but the main fact is that Extremecoin and its development is highly active, proactive in fact and will remain so for the minimum of the five year plan that most companies run from.
Thank you for taking the time to read this.
*Extremecoin won the weekly vote and will be getting added to the new exchange Swisscex.com
The main focus for Extremecoins future goals are:
1) To increase network security.
2) Develop a wallet client for every device, giving it access to as many users as possible. (Windows popularity is decreasing)
3) Maintain the widespread global coin coverage that Extremecoin seems to have at the moment.
4) Reduce Hoarding and promote its use.
5) Getting added to payment processors. You can already buy Extremecoin with Chinese Yen on BTER.com
6) Possibly block chain integration into the desktop wallet clients.
There are lots more points and ideas but the main fact is that Extremecoin and its development is highly active, proactive in fact and will remain so for the minimum of the five year plan that most companies run from.
Thank you for taking the time to read this.
*Extremecoin won the weekly vote and will be getting added to the new exchange Swisscex.com
Great ideas, anyway the POS operation is a good step to be sure of proper operations.
Re: [ANN] New Crypto Currency FRANKO [w/ OPENSOURCE FRK ATM!]
Might be worth thinking more outside the forum etc. Have an email signup on the site (using aweber or getresponse) for people to signup to get the latest info via emails etc. Try and send out a weekly or bi monthly update etc. Course, might be harder now to get people to signup than if you had started closer to the beginning. Nice to see a coin that's been around for a long time and is still being worked on though.
We have those things on frankos.org already. I think our mailing list is up to about 600. We normally do a newsletter about once month. Or around every important announcement.
Maybe some folks have taken down their server. I'll get it all back up and redo the site. Its about time for it anyways ^_^
Franko is well active. Anyway when we see a lot of nonsense posts added every day on lately added coins. And a lot of broken development on other coins, that are more scam features than something really useful. I think that the back to basics idiom for a cryptocurrency is an important strategy. Anyway there is always other matters to talk about.
I agree with you.
2014 is a bad year for mature alternates; I still trust in fair coins, and Franko was well launched; and everything is fine since the beginning.
We see all around a bad game with scam operations every week. We may hope that people will check carefully what they are doing. Franko is trustworthy, something more and more difficult to find around us.
I think its intentional, some group of people are intentionally whoring the scammiest of the scammy coins to damage the altcoin rep. Its obvious when you follow the volume at exchanges. Any exchange willing to cater to the destruction of altcoins reputation will be rewarded with volume. Any exchange that has decided to be more choosy with who they add have lost nearly all of the volume they once had. I predict there will be a great return to time proven alternatives.
Altcoins reputation is at stake, and a lot of people who try lately these high volume operation were scammed. Indeed pump and dump operations can be so easily done, on a new, and fresh coin. A group controlling the coin itself, and some large farms, and who are sure that the coin will be quickly added to an exchange. But, anyway such an operation is only a scam. And the large volume is initiated at the beginning by the group itself. The exchange is involved in a way or another, these operations are not legit...
I won't go with "nothing". My answer is, "whatever is profitable enough to invest in ASIC design and development". So, if X11, or BobsMagicHashingFormula becomes the next big thing, then somebody will develop an ASIC for it. If there's money to be made, somebody's going to make it .
.Perfect answer. You will notice coins say asic resistant. They do not uses (or should not) proof. If there is a big enough market share there will be a product for it.
A n/x11 would be nice but I don't know if or timeline we will see that. Scrypt and of course SHA-256 are controlling the game right now.
In fact, an X11 ASIC was a project I wanted to take on. I'm well aware of the capital required to produce ASIC's but if the cost can be justified and an FPGA implementation followed by a few sample batches produced ( well under 500,000 USD I hope, but if costs get out of whack this is gonna be one hell of a project
) I think the garnered interest could be used to develop one. Of course, I'm talking in very loose terms. Making my own ASIC company has been a long time dream of mine. I've heard plenty of "you're not going to make it" or "somebody get rid of this noob" but I honestly don't care. Just gotta pull through. I'm just gathering some useful data for that venture
If you can make a functional X11 FPGA miner, then is the step to a ASIC really not that big.
Well there's my first piece of optimistic news
I know X11 uses 11 hashing algos ((blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo),
Some of these look like SHA-3's but the rest, I'm not so sure. In fact, I'm not even sure how X11 puts this all together.
Is data hashed through all of them sequentially or do certain algos get performed multiple times?
It feels like it could be paralleled although I think the GPU miner might have already done that.
Is there any way of converting the GPU CUDA/OpenGL code to FPGA or do you have to rough it and start from scratch?
X11 uses a lot of algorithms, but they are all FPGA/ASIC friendly, they may develop a semi-programmable system, where hash units can be chained together to be compatible with new variants (X13, ...).
Re: [ANN] New Crypto Currency FRANKO [w/ OPENSOURCE FRK ATM!]
Might be worth thinking more outside the forum etc. Have an email signup on the site (using aweber or getresponse) for people to signup to get the latest info via emails etc. Try and send out a weekly or bi monthly update etc. Course, might be harder now to get people to signup than if you had started closer to the beginning. Nice to see a coin that's been around for a long time and is still being worked on though.
We have those things on frankos.org already. I think our mailing list is up to about 600. We normally do a newsletter about once month. Or around every important announcement.
Maybe some folks have taken down their server. I'll get it all back up and redo the site. Its about time for it anyways ^_^
Franko is well active. Anyway when we see a lot of nonsense posts added every day on lately added coins. And a lot of broken development on other coins, that are more scam features than something really useful. I think that the back to basics idiom for a cryptocurrency is an important strategy. Anyway there is always other matters to talk about.
I agree with you.
2014 is a bad year for mature alternates; I still trust in fair coins, and Franko was well launched; and everything is fine since the beginning.
We see all around a bad game with scam operations every week. We may hope that people will check carefully what they are doing. Franko is trustworthy, something more and more difficult to find around us.
Re: How we crypto-geeks get it wrong & the reality of altcoin success.
2014 is the year where the multipools and big farms have killed the fragile equilibrium between buyers and sellers of the alternates. I don't think that 99% of alternate owner want bitcoins; anyway multipools users, and a lot of big farms are only there for bitcoins. They are just there for massively dump everything they get, to get bitcoins, this game is only a short term strategy; after a few months of this game GPU mining don't even worth the electricity. We can just hope that these farms are doomed to close, with enough debts to stay out of cryptos.
We have also so many scams issues, lying in the software implementation for some (do you know a X11 POW coins that is really fair, without premined or equivalent implementation?), or coins with ICO scheme and, so on... Anyway the recovery will take months or years...
We have also so many scams issues, lying in the software implementation for some (do you know a X11 POW coins that is really fair, without premined or equivalent implementation?), or coins with ICO scheme and, so on... Anyway the recovery will take months or years...
Re: [ANN] Extremecoin (EXC) - MANDATORY UPGRADE VERSION 1.5 (Kimoto Gravity Well)
I am back now after taking some time away to clear a few things up legally do to with a none Extremecoin issue, of which is now closed.
As for Extremecoin, of which I am very passionate about and by the fact that it is still listed on BTER.com there is still interest in this coin.
My plan for the next 1.6 Version update (The code stress tested on the testnet) will get the difficulty adjustment fixed and get the blockchain moving again.
The next stage will be to set a timetable for Extremecoin to change from a POW crypto to a POS based coin, as a 1 coin block reward under POW alone is not really worth it.
More updates to come in the following weeks as I start work on the coding side.
Thanks.
As for Extremecoin, of which I am very passionate about and by the fact that it is still listed on BTER.com there is still interest in this coin.
My plan for the next 1.6 Version update (The code stress tested on the testnet) will get the difficulty adjustment fixed and get the blockchain moving again.
The next stage will be to set a timetable for Extremecoin to change from a POW crypto to a POS based coin, as a 1 coin block reward under POW alone is not really worth it.
More updates to come in the following weeks as I start work on the coding side.
Thanks.
Extremecoin is already mature; anyway this change will be an important improvement.
Nowadays a lot of new coins are made every week, mostly have no future. A lot of people are mining and selling one, and the next day an other. This behavior has only one effect, that kills all alternates, even the good ones. We must have a long term vision; And support a good coin on the long run. Extremecoin worth the investment.
I utterly agree.
+1
If you need help you are welcome.
Re: [ANN][DRK] DarkCoin | First Anonymous Coin | First X11 | First DGW | Fork for Masternode Payment
Very very easy to respond to trolls!! Just please DO NOT QUOTE THEM... delete the rubbish
I wonder how much you will loose if say, the fork is enforced while you're asleep, and all your miners disappear (if you have any) because you'll instantly get all your block orphaned... And by the time you do get your greedy ass back in line by updating, boom, all your customers gone and happily mining somewhere else.
So yeah. Great job on that one.
If I were a miner, I would not risk the electrical cost mining at a known pool that will be orphaned instantly, somewhere in the near unknown future.
Brilliant.
Love trolls
Darkcoin is not a POS coin, and mining is what gives really a value to the coin. Now there are a lot of free coins generated that cost nothing, do you really thing, that their owner will keep them. This coin has now reason to rise.