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Topic: 2013-12-04 Yahoo: Bitcoin Alternative Quark (QRK) Increases In Value 500% - page 2. (Read 3089 times)

full member
Activity: 168
Merit: 100
I think since it's mined by CPU only, you can even mine it on a laptop, ipad, phone, etc. when the difficulty is low enough, meaning that there will always be miners, it's not like you even need to buy expensive graphic cards to mine it, not to mention ASICs and other complex expensive devices. And that is a great advantage.

People used to search for extraterrestrials' signals just for the fun of it using SETI project on their computers 15 years ago and weren't paid a cent for that (maybe they still do, I haven't followed it since). Imagine that there is at least a small reward that you can get from running a mining app on a cheapest laptop, in short, there will never be a lack of miners, even if the reward is miniscule in the following years, the transaction network will always be there and it will be be extremely distributed, which is the crucial factor to a crypto survival. My view of it, feel free to disagree.

It will always cost electricity to mine and create heat and noise. So if the security of the network depends on a few people who let their computer running for the fun of it ... then it's time to get the popcorn.

You know those botnets that turned out to be useless for bitcoin because cpu mining was not efficient?
member
Activity: 98
Merit: 10
Are there any transaction fees? I could not find anything in my brief search.

Just trying to figure out what the incentive is for miners to mine the coin.

I think since it's mined by CPU only, you can even mine it on a laptop, ipad, phone, etc. when the difficulty is low enough, meaning that there will always be miners, it's not like you even need to buy expensive graphic cards to mine it, not to mention ASICs and other complex expensive devices. And that is a great advantage.

People used to search for extraterrestrials' signals just for the fun of it using SETI project on their computers 15 years ago and weren't paid a cent for that (maybe they still do, I haven't followed it since). Imagine that there is at least a small reward that you can get from running a mining app on a cheapest laptop, in short, there will never be a lack of miners, even if the reward is miniscule in the following years, the transaction network will always be there and it will be be extremely distributed, which is the crucial factor to a crypto survival. My view of it, feel free to disagree.
full member
Activity: 168
Merit: 100
Are there any transaction fees? I could not find anything in my brief search.

Just trying to figure out what the incentive is for miners to mine the coin.
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
and that is the doom of this currency:

"Two features make Quark easier to use as a currency than Bitcoin. First is the larger amount of coin that will be placed in circulation - 247 million (plus an additional one million per year) compared to only 21 million ever for Bitcoin. This makes it possible to deal in whole units of currency, or at least large decimals, rather than thousandths of units, or out to the third and fourth decimal place, as is becoming standard with Bitcoin. Second, the annual inflation rate provides an additional motivation to actually spend Quarks rather than view them as an asset to hold or speculate on. "

people will hate any inflation in the future, much more than today! and that coin does not has the strengh that bitcoin has right now and will have in the future.

legendary
Activity: 1232
Merit: 1001
Yeah I read that and had to do a double take! So 99% of them are already mined, how is that a good thing for anyone but the initial developers?

So many altcoins try and "fix" problems with bitcoin, but they just take things to extremes.

Yes, and Bitcoin really has some issues that could at least be tested with an alt: https://en.bitcoin.it/wiki/Hardfork_Wishlist

Bit so far not a single AltCoin has even tried to address one of this points. Every single one of them is only created, because some guys want to be early adopters, not to improve anything.
hero member
Activity: 910
Merit: 1000
On December 19th, Max Keiser will have Bill Still on his show, talking about QRK ...

So it's gonna stay around at least until the 19th?! Was hoping it would already be dead and buried by then Sad
sr. member
Activity: 272
Merit: 250
Yeah I read that and had to do a double take! So 99% of them are already mined, how is that a good thing for anyone but the initial developers?

So many altcoins try and "fix" problems with bitcoin, but they just take things to extremes.
sr. member
Activity: 364
Merit: 250

Quote
With a short term for mining the majority of the coins-out of 247 million to be mined in the first six months, 245 million have already been mined-this ensures that additional mining will not dilute the value of the currency maximum profits for those who already own Quarks.

fixed.
full member
Activity: 168
Merit: 100
Quote
With a short term for mining the majority of the coins-out of 247 million to be mined in the first six months, 245 million have already been mined-this ensures that additional mining will not dilute the value of the currency.

Did anyone say Scamcoin?
newbie
Activity: 54
Merit: 0
Yahoo Finance: Bitcoin Alternative Quark (QRK) Increases In Value 500% In The Last Week
http://finance.yahoo.com/news/bitcoin-alternative-quark-qrk-increases-072503725.html

On December 19th, Max Keiser will have Bill Still on his show, talking about QRK ...
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