I keep hearing this. Perhaps someone can explain the following to me:
QQC and VelocityCoin were both launched at about the same time and both are very similar. Right now QQC is selling for almost .00004 while VelocityCoin is selling for .000005 or 1/4 the price of QQC.
Now QQC has 1/2 as many potential coins, so a 2x1 price I could understand. But the price is actually 4x1.
In addition, VelocityCoin has MORE hash currently than QQC.
On top of that, QQC advocates keep complaining that the price is way too low, while VelocityCoin advocates seem to think the price is about right to start. Why should someone be bullish on QQC at these prices instead of VelocityCoin?
If someone could explain this I would love to know.
1. QQC is the much better name. Vel...what? Everybody knows, what "quick" means but "velocy"?
2. QQ is a brand in China.
QQC is not two times faster. The transaction speed of Bitcoin should be the fastest because it is the network with the most nodes and therefore you get the quickest relaying. But the confirmations are 30times faster. The only advantage should be, that some cheating attacks are easier to avoide (but with a little effort you can avoid them with Bitcoin too).
Just to make the confirmation time faster doesn't mean that the coin has an advantage. Look at Bitcoin. It is a masterpiece. Do you really think everything is well designed but Satoshi forgot to think how to pay with the coin and that 10min are way too long?
10min have a big advantage over 20sec. There will be much, much less orphans. 20sec means, that you have a big problem, when you are not connected to the right nodes because the time to relay is key. It could take a few seconds. Therefore big pools have an advantage because they are connected to more nodes. ->
more time means less centralisation. But like already said a short confirmation time makes it more difficulty to cheat (the simplest method to avoid double spending is waiting).
So I hold my QQCoins for a while. Maybe I buy some more.
