Topic: [ANN] CryptoLife.net - Hard hitting cryptocurrency news and analysis - page 2. (Read 9966 times)

I've spoken negatively about NXT and Mastercoin before. Quark I only liked as a short term investment, back when it was still sub 1000 satoshi.

..those who are so powerful that they can continue mine the BTC - they can continue mine them for free - minus the electricity and equipment - but that is a miniscule expense if you already have plenty of BTC and the BTC you mine will be in plenty excess of your expenses to mine them..

hmmm - don't think you understand what I mean..
..it is now a fact that only those who have amassed BTC - and those who can afford to purchase the hash power will be able to mine BTC..
This means that they will be the ones controlling the coin..
My post was not about the price of the BTC it was about the ability of the little guy to be able to participate in mining the coin.. And that ability is now gone - BTC has become a 'snob' coin for those who owns it..

But if you can then buy things with the coins, how have you lost?

..because only those who can mine them are the winners - those of us who must buy them for real currency are the losers..
..and those who mine them are the ones who control them..

But the price of Bitcoin is irrelevant to be able to use it. It works if a coin is $1 or $1million. If you want $10 worth of coins to send you can regardless of the price. How is this only for the rich?


 

Well - I for one begin to be seriously fed-up with all those alt-coins.
I have been mining for some months now - even invested a 4 digit figure in equipment - only to realize that I will always be running for the last wagon in the train - unable to catch up because it is rolling forward faster than I can run...

It is only the developer(s) and those who join in the first few minutes, hours, of a coin release who will be the winners, with 100,000 - 1 mill - or even several mill coins in between them - the rest of us are the fools mining along and if we are lucky we get a few coins which are worthless.
Granted we can buy in with real, hard earned currency. But that's a gamble.

The big winners are those devs who start the coins - and most of them vehemently deny they have pre-mined it - no-one can really know. They all pack it in like 'promotion stock' and etc.
But fact is they can all scoop up who knows how many BTC for their 'effort'. The rest of us look like fools - 'trading' our meager satoshis for breadcrumbs, on the exchanges where the owner has been 'bribed' with x mill coins so he too can make some BTC from the little 'eager beaver' traders who think they will win bigtime..

No - the only winners are those devs of the coins and the owners of the exchanges - plus the makers of the mining equipment..

Also the whole BTC mining has gone too far..! It is OK that some who came in early get a bit extra out of it (pre-mine or preferential advantage is another question here - but I will let that hang in the wind).

But that the coin is built so that the difficulty is rising at a rate where only super-powerful equipment - out of reach to the little man - can participate, is plain wrong!

This means that it has already become a powerful controlling entity - when it was actually meant to be the opposite of the mighty governments controlling us.

I think it is highly overdue that someone brings the high-speed train to a slowdown in order for BTC not to end up becoming available only to the wealthy and insiders. If that happens (already a fact btw) - the BTC will surely be opposed by the man on the street.

He does not want another mighty power - out of reach to him - to control him.

Could you write a piece about iXcoin?

+1

Next is the most sinister of all imo.
Centralised controlled currency was what we came here to get AWAY from FFS.........

You would of thought "developers" would of realised pre-mines don't work anymore.

http://cryptolife.net/the-gimmicks-continue-say-hello-to-42/

Avoiding the next generation of crapcoins: http://cryptolife.net/avoiding-coins-created-with-coingen/


Has dozens of extremely large holders that could crash the price to 0 if even one of them decides to cash out a small percentage of their holdings. It gets a big NO from me.

A lot of helpful advice on your site, but I'd like to hear your opinion on NXT.

Thanks!

A most enjoyable read - no arguments here! thx

Nice site. I'll be keeping an eye on it.

+1

This week in crapcoins

http://cryptolife.net/this-week-in-crapcoins

Scam Alert: Earthcoin

http://cryptolife.net/scam-alert-earthcoin

I was thinking the same thing 
Although, I am glad I bought some as speculation (knowing how the internet gets) and sold on whoever was buying.

Who the hell is buying dogecoin?

http://cryptolife.net/who-the-hell-is-buying-dogecoin