Pages:
Author

Topic: [ANNOUNCE] Ixcoin - a new Bitcoin fork - page 21. (Read 128605 times)

hero member
Activity: 742
Merit: 500
August 13, 2011, 01:08:03 PM
but mining ixcoin is still more profitable than mining bitcoin - exchange price 0.0060 is higher than difficulty price = 16384/1890000*50/96 = 0.0045

Yep! My calculations are based on what the price should look like with an "instant" difficulty calculation as opposed to actual difficulty. As with NMC it's more profitable to mine right now because the difficulty is "incorrectly low" relative to actual interest in the currency. Instantaneous difficulty calculations are basically just a measure of interest and interest drives the price. Difficulty and price are both driven by the same underlying force: how many people are interested in this currency? Difficulty lags price because price change in realtime while difficulty only changes every 2k blocks or so. The more interest, the higher the difficulty AND the higher the price.
sr. member
Activity: 306
Merit: 257
August 13, 2011, 01:06:45 PM
bitcoiner's attitude to ixcoin is similar to normal people's attitude to bitcoin )
sr. member
Activity: 306
Merit: 257
August 13, 2011, 01:01:42 PM
but mining ixcoin is still more profitable than mining bitcoin - exchange price 0.0060 is higher than difficulty price = 16384/1890000*50/96 = 0.0045
hero member
Activity: 742
Merit: 500
August 13, 2011, 12:57:08 PM
My estimations are still holding! Calculated instant IXC difficulty (i.e. what the diff should be, based on hashrate) is ~29970 and current BTC difficulty is ~1890362:

(29970.85/(1890362/50*96))*0.68 ~= 0.0056 ~= the average sale price of IXC on ixchange.bitparking.com

I love it when I actually do my math correctly  Grin
full member
Activity: 130
Merit: 100
August 13, 2011, 12:42:20 PM
Difficulty @ 16384 now
full member
Activity: 130
Merit: 100
August 13, 2011, 11:58:30 AM
A friend of mine did the same thing he sent some ix coins to a bitcoin address and the coins were deducted and sent/converted to a different ixcoin address, how is that possible Huh Shouldnt the client have rejected the bitcoin address ? and where were the coins sent ? And can they be recovered ?

He can try to move the ixcoin wallet.dat, copy the bitcoin wallet.dat into the ixcoin directory... then sending the ixcoins back with the ixcoin client from the bitcoin wallet ^^

The coins were sent to a bitcoin address held by http://ixchange.bitparking.com/ exchanger. So I guess they are lost ?
full member
Activity: 168
Merit: 100
August 13, 2011, 11:48:41 AM
A friend of mine did the same thing he sent some ix coins to a bitcoin address and the coins were deducted and sent/converted to a different ixcoin address, how is that possible Huh Shouldnt the client have rejected the bitcoin address ? and where were the coins sent ? And can they be recovered ?

He can try to move the ixcoin wallet.dat, copy the bitcoin wallet.dat into the ixcoin directory... then sending the ixcoins back with the ixcoin client from the bitcoin wallet ^^
full member
Activity: 130
Merit: 100
August 13, 2011, 11:30:42 AM
Well sending ixcoins to a bitcoin address = fail. There goes 116 ixc into the ether.
You should be able to claim the ixcoins so long as you still have the private key that corresponds to that bitcoin address.

It worked. I copied my wallet.dat for the bitcoin address i sent ix coin to over to the ix coin directory and it recovered them.

So now i have one private key good for btc and ixc

A friend of mine did the same thing he sent some ix coins to a bitcoin address and the coins were deducted and sent/converted to a different ixcoin address, how is that possible Huh Shouldnt the client have rejected the bitcoin address ? and where were the coins sent ? And can they be recovered ?
newbie
Activity: 42
Merit: 0
August 13, 2011, 10:26:10 AM
is there a webpage with the current difficulty yet?

the prices on https://ixchange.bitparking.com/main seem very high at the last difficulty levels I could find in this thread (4096, probably much higher now)

16K as of last check about half an hour ago.

If you're solo mining and therefore running the bitcoin program in daemon/server mode, you can get the info from command line by running "ixcoind getinfo"
legendary
Activity: 1708
Merit: 1020
August 13, 2011, 10:23:32 AM
thanks to the OP for starting this great experiment. it is very healthy to test out everything that could hurt bitcoin as early as possible.

I think it will just freeze at a soon to come difficulty jump that makes mining ixcoins less profitable than mining bitcoins.

is there a webpage with the current difficulty yet?

the prices on https://ixchange.bitparking.com/main seem very high at the last difficulty levels I could find in this thread (4096, probably much higher now)

legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
August 13, 2011, 10:16:00 AM
I find it interesting that if you search the term 'ixcoin' on this forum it finds not matching results yet an hour ago it worked fine and found lots of results?

It is call "forum censorship". The bitcoin early adopters don't like ixcoin for the most part because it is a competing block chain.

A good "product" doesn't fear competition... Maybe they know, BTC is not as good as they make us think? ;-)


Then that would explain moving ALL ixcoin posts on the main forum to here? And not namecoin's?
full member
Activity: 168
Merit: 100
August 13, 2011, 10:13:20 AM
I find it interesting that if you search the term 'ixcoin' on this forum it finds not matching results yet an hour ago it worked fine and found lots of results?

It is call "forum censorship". The bitcoin early adopters don't like ixcoin for the most part because it is a competing block chain.

A good "product" doesn't fear competition... Maybe they know, BTC is not as good as they make us think? ;-)
newbie
Activity: 42
Merit: 0
August 13, 2011, 10:10:22 AM
I find it interesting that if you search the term 'ixcoin' on this forum it finds not matching results yet an hour ago it worked fine and found lots of results?

Since I get 9 pages of results from searching for 'ixcoin', maybe somebody requested that you be banned from searching for ixcoin? Cheesy
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
August 13, 2011, 10:04:37 AM
I find it interesting that if you search the term 'ixcoin' on this forum it finds not matching results yet an hour ago it worked fine and found lots of results?

It is call "forum censorship". The bitcoin early adopters don't like ixcoin for the most part because it is a competing block chain.
legendary
Activity: 1022
Merit: 1001
August 13, 2011, 09:59:51 AM
I find it interesting that if you search the term 'ixcoin' on this forum it finds not matching results yet an hour ago it worked fine and found lots of results?
newbie
Activity: 11
Merit: 0
August 13, 2011, 09:54:00 AM
Who knows what the eventual future of ixcoin is,  but really, I don't care.  I'm looking at this more like gambling... You can earn 'chips' with miners, or you can buy them with bitcoin.  Then you play them on the market (ixchange).  Then you win or lose.   I'm having quite a bit of fun playing - it's pretty addicting.

1. It's created a busy market involving the use of bitcoin.  Bitcoin needs as many uses as it can get.

2. Miners are being siphoned off to this - is that a bad thing?

3. So some guy modified a few lines of bitcoin and called it a new currency.  The guy who invented the pet rock made a killing too.  But he got some traction, and generated some interest.  Good for him.  Wish I would have done it.

4. It will never replace bitcoin.  It's not even a currency yet - nobody takes it except ixchange. (that I've seen).   Right now it's nothing more than casino chips that you can earn with miners or buy with bitcoin and play on ixchange.

I'm sure the created of ixcoin would not prefer to have it seen in this light, but it is what it is.  Maybe someday it'll catch on.  But I fail to see the downside as it is right now.  It's a fun distraction that provides yet another use for bitcoins.






legendary
Activity: 1218
Merit: 1000
August 13, 2011, 09:16:00 AM
So, what about this? It's start to look beyond current computer and networking power?
legendary
Activity: 1078
Merit: 1005
August 13, 2011, 08:27:37 AM
A high rate of invalid blocks is a good indication someone is manipulating the block chain. With such a small number of people mining it would be easy for one of the professional BTC miners to control 50%+ of the mining power and just ignore your blocks.
It's more to do with the fact that blocks are solved every few seconds due to the high network power vs the low difficulty, resulting in many blocks being solved by miners at approximately the same time and only one winning.
full member
Activity: 140
Merit: 100
August 13, 2011, 08:21:57 AM
What's up with the high rate of Rejected blocks?  In the beginning it wasn't that big of a deal, but now at current difficulty, it's frustrating finding a block only to have it rejected. Sad

A high rate of invalid blocks is a good indication someone is manipulating the block chain. With such a small number of people mining it would be easy for one of the professional BTC miners to control 50%+ of the mining power and just ignore your blocks.
newbie
Activity: 42
Merit: 0
August 13, 2011, 07:14:26 AM
@Gavin

out of curiosity i ask myself how many ppl would be subscribed at that @metzdowd.com mailinglist ? can someone tell ?
Is Satoshi only talking to himself to have a reference of early publishing ?

whats a metzdowd ?

It's a public mailing list so any number of people could had been reading without being subscribed or posting. Only the list admin would know for sure how many subscribers the list actually has. Given that it appears to be active since 2001 until late 2010, I don't think Satoshi could had been talking only to himself in 2009.

Pages:
Jump to: