Topic: [ANN][DCN] Deepcoin secure hashing (CPU/GPU) New algo/ No premine/ No IPO/ PoW - page 16. (Read 182565 times)

I neither hold nor mine DCT but I have been keeping a watching brief ...

lemonsieur has identified the key issue:


As is testified by the current state of DCN (and hundreds of other slowly-declining altcoins), the answer is broadly: “no-one” and, as lemonsieur notes elsewhere, for any small community of miners, numbers will inevitably dwindle to zero.


Nice to see someone else asking this crucial question.

If you if strip out the irrelevant padding, It's unambiguously clear from the ANN that the OP's understanding is end-user == miner ...


That's as far as the “new and exciting functionality” actually stretches. Once you make yourself aware of that, DCN's track record is readily explicable and its future trajectory becomes fairly predictable (I suspect Chaincoin would be the closest match).

Other hashalgo-based coins to look at are SkeinCoin, GroestlCoin, FugueCoin, X11/13/14/15Coin, QubitCoin, all of which are less than a year old, some a good deal younger.

Not all are totally dead in the water, traces of activity can be discerned here and there but it's difficult to argue that they've been successful on their own terms.

Also, don't forget to make yourself aware of the raft of Quark-based coins. I'm not going to list them here, that's what I creaed DOACC for, I'll just include the SPARQL query, so you can check for yourself (just paste it into the form field on the Minkiz SPARQL endpoint for DOACC (http://minkiz.co/sparql):

(here's a canned link to the results, if you'd rather cut to the chase)

For an even longer view, see SiFcoin, probably the first coin that emphasised algo features (by using a folklore combiner that was hoped to delay the advance of h/w), now being basically curated as a museum exhibit by cinnamon_carter. I would imagine that it's a similar motivation that prompts me to curate RouletteCoin (metadata).


Cheers

Graham

Personally, I stay on this coin.

Heh

sigh
I think I'm going to have to give up on this coin, I don't think I can save it, and it doesn't seem anyone else can either. Not that there is many people here who are willing to save it in the first place. Hopefully someone proves me wrong, but I'm going to have to move on. At least I stayed in this longer than most people.

concerning my second point that you didn't understand, what i meant was : take look here https://blockchain.info/pools .. 10 pools (wallets) are responsible for mining. This will only decrease with time, satoshi imagined something similar to 1 cpu = 1 vote, he didn't imagine pools, gpus and asics.

well, i will give a small analysis of this coin, note the fact that i don't bullshit. i own 1% of the total coins currently in circulation, this same 1 % was at some point, not so long ago, 5 % of the total supply but because of the huge inflation rate (which is one of the reasons why this coin is not as valuable as you think it should be). 


First of All, money is a tool of an economy, the value of the money reflects the power of the economy. As far as economics are concerned, this coin earns a big zero, no economic thought at all, it looks like another p&d coin.


Second, Deephash or the algorithm used, who really cares about it other than a small community of miners? i for one dont care about algorithms, and dont think it gives any value what so ever. This particular point will lead to a huge discussion, which will lead us to debate whether "decentralized" mining is really "decentralized" and the inevitability of "centralization" of mining, i mean bitcoin nowadays is mined by how many ? 4 or 5 wallets ?


let's skip this discussion and move to what i think any serious coin should focus at : "use-value". Let's face it, in the crypto-currency world today, we reached a point where we have higher death rate than birth rate. Dead coins are everywhere. Why? because of a rule set by lemonsieur ( which is moi ) :" Crypto-currency eventually returns to its intrinsic value – zero".  Now, for this zero not to be reached, you need use-value, and here lies the reason why most (if not all?) coins will fail.

Third, if you scratch the skin of 99 % of the coins on the market, you will find one thing in common, we want to sell for btc to the greatest fool out there. That's the reason you are here probably, and that's the reason the reader of these words is most like here too. This same reason can explain the utter economic ignorance of every single coin. Satoshi, who ever he/they is/are, an economic genius, and probably a historian too, because we are in an epoch of virtual money, so he/they designed an unlimited currency if you really think about it. 21 000 000, are in fact 2100 000 000 000 000 units of "value", 2.1 quadrillion units of value. So there is absolutely no reason for new units to exist on a separate block chain.

Forth, what does this coin really want? seriously what is the reason of existence ? the only logical ones i can give at this moment are the following : Proof of Concept for Bushstar and his friend, and few bitcoins reward for dumping the mined coins.

I think these are more than enough reasons why there is no price increase, or interest in dcn, even though i think most "traders" are driven by anything but logic, i can copy paste this to every coin out there, because it's the same everywhere.

 what should be done ? I can't answer it, but 4.4 quadrillion supposed "units of value" currently in existence are just extra wasted bits of information in this seemingly infinite world of bits. what would Aristotle think of the value of infinity? most likely 0, but he believed than none of them really exist.

Why? Evidence?

There are services that accept DCN such as XWebNetwork's website hosting service. There, an example of DCN usage. The 'use-value' of DCN is as high, if not higher than most coins in the market. Perhaps I should emphasize this in the promotional graphics when I make them.

not trying to go too intellectual here, but the use-value of DCN is practically zero.

Well then please promote, try not to expect others to make this coin successful again. If everyone has that mindset, then no work will be done. I'll come up with some promotional graphics sometime later this week, I've had enough of this absurdly undervalued price and low volume. Everyone in this small DCN community will have to play their part if they want to see this coin flourish again though. That includes you

Still mining , but it should be promoted much more...

whats up with DCN? lets get some activity going.

All the best for a speedy recovery in the circumstances of Bushstar.

Ah, I hope Bushstar gets well soon. I saw that he put a lot of work into this coin quite a while ago on Github so I'm looking forward to see what he can do in the future. Thanks for the info

Just spoke with Deepcoinbiz. Still working. Apparently Bushstar had fallen ill which put a halt to major development, but they are pressing forward. I'm only mentioning this here because Deepcoinbiz speaks German and its easier for me to relay the information.

Still in as well. Dev is active on a daily basis. Just patiently awaiting an update.

Hope some development or news soon. Still in!  

We've reached bottom at CryptoNator Stats.

What?

Like I said before it depends on the situation.

Nice.

Negated the advantage you just mentioned.

Wut?

Still lower when averaged.

The profitability of Deepcoin isn't far lower than most other coins though. The profitability of GPU mining is very low across all cryptocurrencies these days, especially when you take electricity costs into account, which is exactly where Deepcoin shines due to DEEPHash's energy efficiency.

Its high energy efficiency means the temperatures are relatively low, which gives plenty more headroom for overclocking. It also means that your graphics cards are under less strain and will likely last longer.

The Deepcoin miner is also extremely stable, leading to less downtime, whereas in other cryptocurrencies mining software may be unstable and crash quite often leading to extended periods of time where your graphics cards are idling and not doing anything useful.

Also most GPU miners these days mine coins that may rise in value in the future, seeing as though the price for Deepcoin is so low right now it might be a fairly attractive bet.

So really the profitability of Deepcoin depends on your situation.