Topic: [ANNOUNCE] Ixcoin - a new Bitcoin fork - page 22. (Read 128605 times)

@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 ?

greetings

Is there need for a concerted effort to manipulate or control behavior of one or more existences perhaps due to unacceptance of such activities, participations or behaviorisms by yourself or anyone else?  e.g. "be, do, think, etc. like us (read 'me') or we (each individual to various extents/degrees, eventually 'giving up' or whatever) will annoy, nag, pester you neverendingly/indefinitely?"  Is this normal?  Do you liek cake?

If there is such a need, then by all means, continue propagating and repeating such efforts similarly as everyone else continues propagating their own efforts and natural phenomenon will continue as usual.

hint: many people still blatantly refuse and strongly oppose, fight and resist bitcoin, decrying it as scam, etc.  Effort towards providing informations to them is similarly obnoxiously annoying and overwhelmingly useless.  If they do not understasnd or accept initially, then repeating yourself may result in establishing strong conflict and negative energy/experiences with such individuals.  Let them fail, die, make poor choices, etc.  One person's trash is another's treasure.  One person's scam is another's (opposite of scam).

as it is now, i will never accept ixcoin as payment, i don't feel the need to mine it either, nor do i want to argue this matter anymore, it seems that this situation is no different, no matter what you tell them, they don't listen, so i am just wasting my breath.

If I wasn't mining this scam currency, I'd be busy mining the other scam currencies.

I hope you aren't getting scammed out of your scamcoins. That would be such a scam.

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.

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

I watched someone buy 235K IXC on the exchange. I don't know for sure if they still hold it.

Clearly the way to make money with this is to get some value for IX (and lots of IX) and then trade them (all) for BTC slowly so as to not destroy the market early.

Are you saying you are NOT doing this?

Whatever happens in the end, IX will fail since there is no use for them except to trade them for BTC (unless the following)
If you do get actual markets for people to accept them - then that may change, however, with the startup of taking 580K coins, no company with someone who has an ounce of economic sense would risk their business on something with that glaring flaw.

And no matter how you try to hide it behind other words, the 580K is a glaring flaw.

I would argue it is diluted over substantially more miners than early bitcoin mining. I would be very surprise any single individual is holding more than 200K IXC.

Here's one trade I made: https://bitcointalksearch.org/topic/m.447628

It seems to me like Ixcoin is even more friendly to early adopters than Bitcoin. Its faster growth rate due to its larger generations combined with the large-scale mining at low difficulty are flooding its early adopters with easy coins. It has already reached a total of over 1.6 million coins distributed only a few days after going public.

Fixed

The day following Ixcoin's introduction, I bought several thousand Ixcoins at 0.00006 BTC from miners. At that rate, that equates to ~17BTC for 250K Ixcoins - less than what we spent on hosting/domains/related, not counting our time. Nothing was stopping you or others from purchasing large holdings of Ixcoins at these prices.

Miners are now sitting on 1 million Ixcoins. Some early miners managed to mine 150K Ixcoins. Should they be scolded for being early adopters?

There were several motivations why we introduced Ixcoins. To name a few:

1/ Before investing in Bitcoin we were a bit uneasy about the prospect of early-adopters with massive BTC holdings possibly tanking the value of our investments by flooding the markets. I eventually dismissed this feeling, but several experienced investors we mentioned Bitcoin to kept bringing up that point. I don't have anything against early adopters profiting, because without them we wouldn't have the wonderful Bitcoin ecosystem we have today. It's just that I would prefer the value of my investment to not be dependent on a handful of early adopters with millions of BTCs. I prefer to spread my risk. We saw a trial-run of such a scenario with the MTGox episode.

The current Ixcoin distribution is somewhat clearer which I hope might reassure potential new investors. The 2/3 of the total 1.5M IXC in existence belong to miners. Close to half of the remaining 1/3 is set aside for bounties. The rest will be used to fund future development and some for ourselves. Omitting the initial difficulty ramp-up, I'm betting IXC will be evenly distributed since the mining community is mature and competition is fierce. Setting a high difficulty right from the start would have avoided the difficulty ramp-up phase, but we believe would also have prevented the general excitement and very rapid uptake from the Bitcoin community.

2/ Waiting until 2033-2050 for all 21 million BTCs to be generated sounded a bit distant. We wanted a shorter maturation period to reinforce the scarcity aspect of Bitcoin. By 2015 when hopefully the masses start using Bitcoin/Ixcoin (due to current Bitcoin dev trends and imploding fiat currencies) and when all Ixcoins have been generated, it'll be refreshing for people to use the strictly non-inflating Ixcoin currency (and also avoid explaining the complex inflation and mining techno-babble), whilst still reassuring them that there is not just a handful of Ixcoin holders but that it is spread over many thousands of miners.

3/ Fun and (currently limited) profit. We made multiple orders of magnitude more on bitcoin trading but this is way more fun!

Yes it does... Difficulty determines how many blocks each MH/s will get you, if you don't account for the fact that an IXC block gives 1.92 times the coin reward your math will be skewed. If they traded 1:1 and had the same exact difficulty rating, it would be almost twice as profitable to mine IXC because of the coin difference. It'll also screw up your inflation calculations and just about everything else (7200 new BTC every day compared to 13,824 IXC - which is kind of the whole point). Calculations based on difficulty and hashrate have results in # of blocks, which must then be translated into a given # of coins. We must compare coins to coins, not blocks to blocks if we're to have accurate numbers...

It calculates based on individual coins, block count doesnt matter.

Actually I can think of a very great use of this to the Bitcoin world.

It has been mentioned before, but seriously it would be worth attempting a network takeover and seeing if it is possible.

Are there any grounds to say someone can't try it?
Those grounds could be considered the same as those for creating this blockchain:
An attempt to make money and nothing more.

And yet it would also work well as a threat test for the Bitcoin block chain.
It's all nice in theory but when tried in the real world it helps make the problem seem more real.

Certainly not something anyone but a large company/government could do to Bitcoin (currently something like 13Th/s)
but to this one it could be worth trying to prove proof of concept for considering the security of Bitcoin ...

1. Pointing my machine to Ixcoin.
2. Buying lots of ixcoins
...
3. Profit?

It's a pool statistics bug. When the pool finds a block it cleans out the information it uses the calculate the hash rate, so it drops until there's enough to compute it again.

Does that math take into account that each found block is worth 96 coins instead of 50? I've not used that site, but in most cases the online calculators do not allow you to change that value...