Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 1617. (Read 2509925 times)
February 27, 2014, 06:08:12 PM
Trying to unlock for block 5000 can no one help?
February 27, 2014, 06:06:17 PM
One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.
Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.
Because mining difficulty will determine what the miner is willing to sell at, right at this moment, in the very short-term. At current difficulty there is no way I would sell at 2000 satoshi. I'd be better off mining DOGE. Anything beyond the short-term, the market demand ends up being the main deciding factor (which then adjusts difficulty up or down). But BC is interesting because that demand->difficulty adjustment is non-existent after block 10,000.
Not quite. What the miner is 'willing' to sell at may be determined by many things, including his own desperation or forebodings. And the miner can 'will' all he wants. The buyer may not really give a shit. Unless he's a motivated buyer, for whatever reason.
February 27, 2014, 06:02:19 PM
One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.
Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.
I don't entirely agree. The kind of "demand" you speak of is not entirely rational and market-based, nor necessarily sustainable. There is a large element of miner-speculation, and that could go south if the pay-off disappoints. Many are mining it just to follow the herd.
Totally with you as far as the useful role irrationality plays. Let's hope it goes bonkers completely, just as it did with bitcoin. Mind you, most of the people buying bitcoin did not treasure it for it's colossal level of mining difficulty, or even know what difficulty is or means. My point was only, there is not a simple logic going from how hard it is to mine something, to what it will be worth on the market. There are many factors at play simultaneously. I think miners can get a little delusional on this point, imagining that all the resources they pour into a coin does, or 'should' automatically make the product more precious to others.
February 27, 2014, 06:02:01 PM
Quote
"blocks" : 4980
20 more to go until PoS kicks in
February 27, 2014, 06:01:20 PM
One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.
Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.
Because mining difficulty will determine what the miner is willing to sell at, right at this moment, in the very short-term. At current difficulty there is no way I would sell at 2000 satoshi. I'd be better off mining DOGE. Anything beyond the short-term, the market demand ends up being the main deciding factor, which then adjusts difficulty up or down making a coin more difficult or easier to obtain. But BC is interesting because that demand->difficulty adjustment is non-existent after block 10,000.
The very short mining period also means : good luck paying anything less than the miner is "paying" by investing their equipment into mining this coin. (If you will, then it won't be until after if the coin fails). That's why my logic.
February 27, 2014, 05:59:34 PM
perhaps somebody can give some instructions for dummies what
This information should be available for everyone, not only for experts! A lot of people asking themselfs "WhereTF is the unlock button?'"
And not everybody is native english speaker!
THX
Quote
FAQ
What sould I do to start PoS mining?
First, wait until network has 5000 blocks. Then have your wallet unlocked and online.
...means?What sould I do to start PoS mining?
First, wait until network has 5000 blocks. Then have your wallet unlocked and online.
This information should be available for everyone, not only for experts! A lot of people asking themselfs "WhereTF is the unlock button?'"
And not everybody is native english speaker!THX
February 27, 2014, 05:58:55 PM
'stake miner suspended due to locked wallet ' how to remove this ? how to unencrypt wallet?
You DON'T unencrypt. Just unlock.
February 27, 2014, 05:57:03 PM
How to unlock for newbie please
February 27, 2014, 05:56:55 PM
One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.
Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.
I don't entirely agree. The kind of "demand" you speak of is not entirely rational and market-based, nor necessarily sustainable. There is a large element of miner-speculation, and that could go south if the pay-off disappoints. Many are mining it just to follow the herd.
February 27, 2014, 05:52:39 PM
'stake miner suspended due to locked wallet ' how to remove this ? how to unencrypt wallet?
You DON'T unencrypt. Just unlock.
February 27, 2014, 05:52:15 PM
Does anybody know how many coins Wesley Snipes is dumping today?
is he holding a lot?
Yes, he mine from day one I think.
im scared
February 27, 2014, 05:51:58 PM
'stake miner suspended due to locked wallet ' how to remove this ? how to unencrypt wallet?
February 27, 2014, 05:51:34 PM
One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.
Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.
I don't entirely agree. The kind of "demand" you speak of is not entirely rational and market-based, nor necessarily sustainable. There is a large element of miner-speculation, and that could go south if the pay-off disappoints. Many are mining it just to follow the herd.
February 27, 2014, 05:51:28 PM
BC: B4Vb69Ug8abgwLavRBKGqrw62UMqTjrTD2
February 27, 2014, 05:51:21 PM
Anyone know how to unlock the wallet?
February 27, 2014, 05:48:51 PM
Does anybody know how many coins Wesley Snipes is dumping today?
is he holding a lot?
Yes, he mine from day one I think.
February 27, 2014, 05:47:24 PM
Does anybody know how many coins Wesley Snipes is dumping today?
is he holding a lot?
February 27, 2014, 05:46:45 PM
One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.
Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.
Less than 24 Hour Volume:
175.274 BTC
And that's only on Mintpal, sounds like there's more than enough demand to me
Indeed, looks very encouraging. Let's hope demand rises, on top of the slowing rate of increase in supply. Demand can also dry up. We don't know yet how this will play out.
February 27, 2014, 05:45:41 PM
One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.
Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.
February 27, 2014, 05:43:24 PM
One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.
Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.
Less than 24 Hour Volume:
175.274 BTC
And that's only on Mintpal, sounds like there's more than enough demand to me
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