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Showing 20 of 48 results by hughperman
I had a thought this morning and I'm wondering what anyone thinks. The thought was
"What happens in a cryptocurrency where the block reward continuously increases per block found?"
Perhaps on a slow exponential curve, something like doubling the reward every 1000 or 10000 blocks? And say, with difficulty targetting to aim at a doubling of reward every week or month or so?
So obviously it inflates prices quickly, and isn't particularly useful FOR anything.
BUT given the current trend of a bunch of people jumping on the bandwagon of any new coin to try and make money, what would happen if it was made? Early miners don't get any particular reward over those joining after a while - I haven't done the maths, but I imagine there would be an initial individual profitability (by which I mean it's easy for someone to get a bunch of coins) before difficulty jumps up, and a dip for a while, but then as difficulty stabilises and block reward increases, ability to get coins increases again (sorry my vocab for this topic isn't great, I'm sure there's a better word than "ability to get coins".
I wonder what people would do? They would try and set a price in LTC using Google Docs, this seems to be the way the past few coins have worked, but then what? It's strange economics (as far as my very rudimentary supply and demand economics understanding goes) as there is increasing supply and the only demand is for speculation and offloading, but holding for any long time is pointless as the coin devalues.
I'm not even sure if I have a question that I'm asking, just some thoughts.
"What happens in a cryptocurrency where the block reward continuously increases per block found?"
Perhaps on a slow exponential curve, something like doubling the reward every 1000 or 10000 blocks? And say, with difficulty targetting to aim at a doubling of reward every week or month or so?
So obviously it inflates prices quickly, and isn't particularly useful FOR anything.
BUT given the current trend of a bunch of people jumping on the bandwagon of any new coin to try and make money, what would happen if it was made? Early miners don't get any particular reward over those joining after a while - I haven't done the maths, but I imagine there would be an initial individual profitability (by which I mean it's easy for someone to get a bunch of coins) before difficulty jumps up, and a dip for a while, but then as difficulty stabilises and block reward increases, ability to get coins increases again (sorry my vocab for this topic isn't great, I'm sure there's a better word than "ability to get coins".
I wonder what people would do? They would try and set a price in LTC using Google Docs, this seems to be the way the past few coins have worked, but then what? It's strange economics (as far as my very rudimentary supply and demand economics understanding goes) as there is increasing supply and the only demand is for speculation and offloading, but holding for any long time is pointless as the coin devalues.
I'm not even sure if I have a question that I'm asking, just some thoughts.
50 ltc
You are the reason eBay auction prices are so high!!!
FTC had a really good start until people started dumping massive amounts however am sure this will go back up to a good price again. People just cant seem to wait with stuff and they would rather pump dump stuff and can easily kill new crypto currency's. I welcome new crypto coins that come out some I agree with others I do not agree.
FTC had a ridiculous start. It took LTC like 2 years to be worth more than $0.07, there was no reason for FTC to be worth $0.50 in the first week, plus there's 200 coins per block so 4x as many of them, the current $0.20 is way overpriced still and people will soon realize how worthless they really are. As far as real value, they should be $0.01 at this point.
You use these "shoulds" and "reasons" like there is some underlying pattern things have to follow, based on how things were for a different coin at a different point in time. Time changes how things are used. It seems to be an established practise (I'm sure someone's even written down a business plan) to make a coin, mine it, wait for people to hop on to make a quick buck, gather momentum for a day or two, start a google docs trading sheet, then dump for LTC. Easy LTC, 10s or 100s of times more profitable than mining. A tool is a tool, and can be used not just how it "should" be.
Here might be good: http://goo.gl/sJc6E
Such as I have some
When BTC prices go up, the ALTs proportion against BTC goes down and vice versa. This is especially true for LTC
And the SH#%#$y thing is, when btc goes down LTC also follows 
Price yes, but not the BTC/LTC ratio
Yep LTC and BTC seem pretty well tied together.
I have some, but I don't like it. All these copycat altcoins are going to be the death of cryptocurrencies.
Nah. People have too much invested. Eventually enough people will get burned that they will be wary and not jump in, or it will turn into a comedy/tragedy of early adoption. I can't even keep up and I've only been following for a month or two.Have anyone received the coins they are owed?
I haven't, it was only 98 or 99 FTC but they're worth a little bit at the min so hoping the OP comes back!!(Address: 6nPNw53RPcMvnP5A6T8etjdTrWZfrHGaHi in case viperaus is paying out)
And mine is: https://vircurex.com/welcome/index?referral_id=705-14222
705-14222
705-14222
Do you REALLY think these coins are worth what someone would need $340,000 worth of equipment to do on the BTC chain?
Someone might. And that's why the thread exists. Someone might think that they are buying a chance of selling for more "real" (valuable) money later, as happened with feathercoin when it took off like a rocket. There's no intrinsic value to these coins as there is nowhere (that I'm aware of) that provides the opportunity to buy goods with them. These people are selling hope and that's all. The early-adopter boom phase is being pushed and pushed, and if enough people are seen to be selling (new)coin for an amount of (old)coin, then a value is created, pushed by speculation, and will shoot up and then die a quick death.
Now that I'm done explaining things to people who know them already, back to my day. Which was made happier by making 1.5 BTC from a day's worth of mining feathercoin a week ago.