Quote from: DaveF on November 04, 2023, 02:52:11 PM

Math....
10000 coins and the current reward is 50 per block so 200 blocks.
According to the block explorer it's at about 10.5 GH/s for mining with a difficulty of 9600

So you can go to https://www.nicehash.com/pricing and see that it's about 0.04 BTC for 1 TH (1000 GH/s) for 1 day (0.0387 BTC/TH/day is the price at this moment) so for a fraction of what the OP is asking you mine the shit out of the coin get closer to 75000 coins and then watch it die as the difficulty spiked all the way up due to the insane amount to power you pointed at it.

Heck spending even 1/10 of the .04BTC so .004BTC would still probably kill the coin.

And no source code that I could find, but I didn't look that hard.

-Dave

Dave, you are a good mathematician and I praise you for that, but you are not factoring everything into your equation.

True Freedom coin works differently, because of how it's economy is set up. People who joined the true freedom coin economy and started mining with their laptops (fairly) started the bidding on Truth instead of coins. And people who started selling goods and services, started selling with truth.

Back in the early days before Bitcoin exchanges even existed Bitcoin had no monetary value. The only place to get it was from miners, who were auctioning their coins at a 55 cents per coin. Even today the majority of coins that make it onto exchanges are coming from miners in the Bitcoin community. There is a record of this on the blockchain and on the True Freedom Coin economy boards, telegram groups and WhatsApp groups

As you can see, true freedom coin is not listed on an exchange, and is following in Bitcoins footsteps. However, TRUTH, is the real currency of the TFC economy. People started bidding on truth and not whole coins. This would be the equivalent of early miners selling their 10 satoshi at 55cents. But this wasn't possible for Bitcoins, because people didn't even understand what a Bitcoin was, much less a S atoshi.

Now, even if the price rose up to to 400K Satoshi (0.004BTC) from the current 1720 Sat (current price), that would mean one Truth is now at 4.0 BTC, because that's the unit of measurement used in the economy and set by the miners and early businesses in the ecosystem. I agree that it's simple math, but you have to include all the parameters into your equation.

Just to elaborate, True Freedom Coin is a virtual commodity. and it's scarcity is determined by the network difficulty that you mentioned. But it's monetary value is determined by supply and demand in the True Freedom Coin economy. And actually, since it's so hard to mine with an average laptop (which most people including me were mining on fairly) It's scarcity has gone up. That's just logic.

Now if you had researched True Freedom Coin, and actually invested some time and looked at the economy it would have saved me this long explanation.

Right, let's talk about the recent events which transpired on the blockchain with people hoping onto the blockchain with their ASICS. The only people who could have done this, and had the hardware powerful enough must have come from this platform, and were probably trying to shut the project down out of spite, or to prove a point because they didn't understand how people could sell their TFC at 1Btc.

What you probably don't know is that True Freedom Coin is about championing human rights like free speech, human rights, privacy, the right to own private property etc. Which brings a question to mind. How is Bitcoin different from Eth in censoring new projects? Trying to kill this coin by mining it with 1TH/s and then switching off your ASICS is censorship.(but thankfully it won't succeed)

Well, they didn't succeed in driving down the price, and they didn't succeed in killing the blockchain. There is a community behind True Freedom Coin that exists outside of these message boards. Just because you see me auctioning my coins at this price, doesn't mean I am the first one to do it. actually the True Freedom Coin ecosystem has been an active community since late June this year.

Yes, the blockchain is frozen temporarily, because the TFC economy is facing challenges that Bitcoin never faced i.e. ASICS. But this too shall pass, and the TFC economy will bounce back from this, start mining, and eventually overcome the network difficulty.

You yourself admitted that you couldn't even find any source code, because you didn't look hard. That's true, you didn't research this coin at all. https://github.com/TFCAnonymous/TrueFreedomCoinBlockChain

I want to add one last thought. Yes, TFC is selling at a higher price than Bitcoin, but that doesn't mean that we think TFC is BETTER than bitcoin. People in the TFC economy know that TFC wouldn't be here if it wasn't for Bitcoin, and are building on the foundation that Bitcoin laid. By trading your Bitcoins for TFC, you are making it possible for people to obtain BTC and bringing people into the bitcoin economy. It's also better than just dumping your Bitcoin for worthless dollars.

BTW I accept your bid of 4 BTC

CyberSkank

Posts

Merits