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Topic: [ANN] Enough the ****ing Crap coins. (Read 1778 times)

full member
Activity: 175
Merit: 100
★YoBit.Net★ 350+ Coins Exchange & Dice
May 13, 2013, 01:00:58 AM
#33
Ok, i've had enough, like for real. I thinks it's time we became a real "tech" society, there are innovations made everyday that make transactions faster and secure the validity of our crypto currencies. but i think that instead of just launching new coins, let add the fixes to existing coins. In that way we can stahp this bullshit circus we have running were first comers make +$100000 jus coz they got a PM before the launch.

I would like to invite all developers of previous alt coins to come together on one project which we will call THE ALT COIN, one were we all focus our strengths and intellect  and produce a viable commodity that will withstand market pushes made by pump and dump.

It's guaranteed to work and all i need is consensus from just thirty percent of the alt devs and i know we can change the face of "alt coins".


Yes i had it enough. My bitcoin and my ASIC could worth million dollars but because of all these scrypt altcoin  that my ASIC cannot mine, i cant get bigger money swimming pool. All altcoin that cannot be mined by ASIC  are scam and need to be destroyed.
newbie
Activity: 28
Merit: 0
May 13, 2013, 12:59:42 AM
#32
Yeah I'm just going to say it, the whole clonecoin thing puts legitimate Altcoin like PPC and LTC in jeopardy. No one will take them seriously... In reality the developers of these coins are only hurting themselves by degrading the value of cryptocoins as a whole.... i kind of think we need to shut down this subforum and open a specific subforums for LTC and *possibly* PPC.
hero member
Activity: 574
Merit: 500
May 13, 2013, 12:54:55 AM
#31
I would like to invite all developers of previous alt coins to come together on one project which we will call THE ALT COIN

Well, this is what I've been waiting for!

Thats going to happen ...lol
full member
Activity: 182
Merit: 100
May 13, 2013, 12:20:32 AM
#30
I would like to invite all developers of previous alt coins to come together on one project which we will call THE ALT COIN

Well, this is what I've been waiting for!
member
Activity: 69
Merit: 10
May 13, 2013, 12:13:11 AM
#29
[Personally, I really do like it when Cryptocurrencies bring something new to the table like PPC and FRC.  As for LTC, I think it has ended up becoming a major player more due to it's wonderful chance timing rather than the fact that it brought anything new to the table.]

I'd say you are right. Though that also explains the (relative) success of Terracoin and PPC as well. They all got in before the Crapcoin Revolution.

Disclaimer: I bought into a Crapcoin myself recently, in the form of Bytecoin. Not sorry I did, just disappointed it didn't really go anywhere. I thought it was interesting though how it seemed to present a solution to Bitcoin's chain-bloat, which is why I got behind it.
legendary
Activity: 2940
Merit: 1090
May 12, 2013, 11:08:33 PM
#28
I personally think an alt coin needs to be released that is literally aiming for like 5 or 10 second block times... one that orphans and fast paced excitement with tons of coin income per day is the name of the game (even if income is 100% of bitcoin).

there is just something awesome about getting 2k XXcoin per day vs whoop de doo.. 85 XXcoin in a day or 8.5 xxCoin per day...


I take it you are not familiar with Liquidcoin?

For a more sedate rate, about the fastest the internet's latency really allows to have any long term chance or working well, try GeistGeld. 15 second blocks. It is easy to rake in thousands of them per day with only one GPU plus as it is merged mined you get to keep mining your bitcoins and namecoins and devcoins and groupcoins and coiledcoins too while you are at it.

(You get quite a few coiledcoins too, though not as many as you get of GeistGeld.)

-MarkM-
legendary
Activity: 896
Merit: 1000
May 12, 2013, 11:05:07 PM
#27
I really think that no matter what we're going to have these type of "crapcoin" releases for primarily two reasons:

1)  People want to make a quick buck and what better way than to make a coin that can be pumped and dumped?

2)  People feel that certain features from already existing coins should be adjusted to make a better coin without thoroughly understanding the implications of those adjustments.

[As a quick note: Usually those two things overlap.]

Combine these two things with human nature and voila, we have a plethora of stinky "crapcoins."

[Personally, I really do like it when Cryptocurrencies bring something new to the table like PPC and FRC.  As for LTC, I think it has ended up becoming a major player more due to it's wonderful chance timing rather than the fact that it brought anything new to the table.]
hero member
Activity: 616
Merit: 500
May 12, 2013, 10:19:03 PM
#26
I personally think an alt coin needs to be released that is literally aiming for like 5 or 10 second block times... one that orphans and fast paced excitement with tons of coin income per day is the name of the game (even if income is 100% of bitcoin).

there is just something awesome about getting 2k XXcoin per day vs whoop de doo.. 85 XXcoin in a day or 8.5 xxCoin per day...
legendary
Activity: 924
Merit: 1000
Think. Positive. Thoughts.
May 12, 2013, 09:41:55 PM
#25
The more I see these pop up, the more I think that LTC is THE altcoin and everything else is just an experiment.

One interesting part of the experiment is whether they can secure their blockchains without using merged mining.

The more of them there are, the more vulnerable each one seems likely to be...

-MarkM-


They would be wise to merge mine with scrypt/LTC... the LTC network will only grow as miners are priced out of BTC.
hero member
Activity: 574
Merit: 500
May 12, 2013, 09:30:41 PM
#24
The more I see these pop up, the more I think that LTC is THE altcoin and everything else is just an experiment.
You just might have a point there...
legendary
Activity: 2940
Merit: 1090
May 12, 2013, 09:29:14 PM
#23
The more I see these pop up, the more I think that LTC is THE altcoin and everything else is just an experiment.

One interesting part of the experiment is whether they can secure their blockchains without using merged mining.

The more of them there are, the more vulnerable each one seems likely to be...

-MarkM-
legendary
Activity: 924
Merit: 1000
Think. Positive. Thoughts.
May 12, 2013, 09:27:37 PM
#22
The more I see these pop up, the more I think that LTC is THE altcoin and everything else is just an experiment.
legendary
Activity: 882
Merit: 1000
May 12, 2013, 09:16:35 PM
#21
someone is butthurt go eat a cow

hehehehe, if only you knew how much butthurt i can give any coin that catches my fancy.
just as a starter, i've killed three coins i didn't like coz i have THAT much hash power. my interest is either profit or to hash something into oblivion.


If you really have that much hashing power, you are doing a great service for the community

lol, did u see gamecoin? hahaha, people had mined as much as 200k coins and they sort of just "disappeared" lol
newbie
Activity: 28
Merit: 0
May 12, 2013, 09:09:04 PM
#20
someone is butthurt go eat a cow

hehehehe, if only you knew how much butthurt i can give any coin that catches my fancy.
just as a starter, i've killed three coins i didn't like coz i have THAT much hash power. my interest is either profit or to hash something into oblivion.


If you really have that much hashing power, you are doing a great service for the community
legendary
Activity: 2940
Merit: 1090
May 12, 2013, 08:49:46 PM
#19
Because so few people actually do maintenance work it is taking a long time to get the existing coins' code up to date.

Part of the problem is the huge delay BFL caused, no one was buying hashing gear to secure all the merged mined coins because they were all waiting for ASICs.

That led to low difficulty, and exchanges need coins to have very very high difficulty because it is only high difficulty that secures the blockchains.

Once everyone can easily get ASICs off the shelf Massively Merged Mining will finally be able to start putting some serious hashing power into securing all the old coins that can be merged-mined, their codebases can be brought up to date and they can get onto exchanges.

These recent pump and dumps are kind of screwing each other out of hashing power so might not be able to actually secure their blockchains until they too adopt merged mining; it will be interesting to see how that goes. Maybe if Scrypt FPGAs get mass-produced and are easily available off the shelf and all the pump and dumps add merged mining they might be able to all be secured but they will face stigma from miners who refuse to merged-mine, preferring to only mine the primary chain.

-MarkM-
hero member
Activity: 630
Merit: 500
May 12, 2013, 08:49:32 PM
#18
2)  Get major actors like exchanges, profitability calculators etc to agree to not adopt illegitimate coins.

All this will do is bring about the emergence of new exchanges.

So in that case, good idea!
legendary
Activity: 882
Merit: 1000
May 12, 2013, 08:37:06 PM
#17
someone is butthurt go eat a cow

hehehehe, if only you knew how much butthurt i can give any coin that catches my fancy.
just as a starter, i've killed three coins i didn't like coz i have THAT much hash power. my interest is either profit or to hash something into oblivion.
member
Activity: 112
Merit: 10
May 12, 2013, 08:29:46 PM
#16
someone is butthurt go eat a cow
legendary
Activity: 882
Merit: 1000
May 12, 2013, 08:28:58 PM
#15
Here is what I would do.

1)  Set up some kind of document formally defining the ethical standards involved in creating an alt, prohibit all the various scam activities, the cloning, the pre-mineing etc.  Sticky it and make it clear that violating these standards will have consequences.

2)  Get major actors like exchanges, profitability calculators etc to agree to not adopt illegitimate coins.

3)  Have a network of rapid-response pools ready to attack illegitimate coins and some means of alerting/focusing them immediately when the need arises, such as an IRC channel, an e-mail pool etc.

you ideas have merit, but control is something our society is running away from. perhaps an open poll that makes a coin accepted if it gets a certain number of votes?
full member
Activity: 182
Merit: 100
fml
May 12, 2013, 06:16:56 AM
#14
Aw, no new coin today?
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