. I like the idea of allocating large initial chunk of coins to develop the product. 
Topic: [ANNOUNCE] Ixcoin - a new Bitcoin fork - page 24. (Read 128457 times)
At least this guy is better manager than Satoshi . I like the idea of allocating large initial chunk of coins to develop the product.
. I like the idea of allocating large initial chunk of coins to develop the product. 
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In the opposite side, I think we must take this little experiments in the most serious way.
Just to prove the fact that Bitcoin is unique and not easily replicable.
Just to prove the fact that Bitcoin is unique and not easily replicable.
It looks like a good chunk of the pre-mined ixcoins are being used for bounties. And maybe his/their intention is to reserve the rest for future bounties.
At first I thought that it could be a good thing if this new chain was being used to subsidize development that could easily be ported back to the mainline client. It would be like a sort of testnet, but with immediate financial benefits to whatever extent these new coins are useful/valuable/exchangeable.
But then I saw the list of bounties, and they all appear to be external, and aimed at bringing ixcoin up to the level that bitcoin is already at, rather than extending anything. Maybe that will change in the future. Or maybe not.
At first I thought that it could be a good thing if this new chain was being used to subsidize development that could easily be ported back to the mainline client. It would be like a sort of testnet, but with immediate financial benefits to whatever extent these new coins are useful/valuable/exchangeable.
But then I saw the list of bounties, and they all appear to be external, and aimed at bringing ixcoin up to the level that bitcoin is already at, rather than extending anything. Maybe that will change in the future. Or maybe not.
In particular, I think it is unfair to keep hundreds of thousands of whatever-coins for yourself, and it is unwise to think that a bitcoin variation that is "almost exactly like bitcoin, only different because... well, just because" will ever have anything more than speculative value.
I don't think anybody really takes Ixcoin seriously. As you said, most of us view it as a gimmicky distraction with no inherent monetary use other than speculative value on the Ixcoin exchange. Ixcoin vs. Bitcoin is like batting cages vs. baseball. Or the driving range vs. a full 18 hole round of golf. It's fun for miners who just like to go through the motions and see numbers fly by on the screen, but beyond that it's just an empty shell of what the Bitcoin movement is.
Couple of things:
First, I want to squash the "Satoshi mined a bunch of bitcoins on his own before releasing the bitcoin chain" idea. He publicly announced bitcoin version 0.1 six days after he generated the genesis block: January 9, 2009:
http://www.mail-archive.com/[email protected]/msg10142.html
According to the block chain history, he generated about 10 blocks total before the announcement. And we know that he didn't pre-generate blocks because the genesis block contains a quote from the January 3rd Financial Times newspaper.
Second, I have no problem with alternative block chains, I just don't personally like how this particular alternative block chain is being promoted and developed and introduced. In particular, I think it is unfair to keep hundreds of thousands of whatever-coins for yourself, and it is unwise to think that a bitcoin variation that is "almost exactly like bitcoin, only different because... well, just because" will ever have anything more than speculative value.
First, I want to squash the "Satoshi mined a bunch of bitcoins on his own before releasing the bitcoin chain" idea. He publicly announced bitcoin version 0.1 six days after he generated the genesis block: January 9, 2009:
http://www.mail-archive.com/[email protected]/msg10142.html
According to the block chain history, he generated about 10 blocks total before the announcement. And we know that he didn't pre-generate blocks because the genesis block contains a quote from the January 3rd Financial Times newspaper.
Second, I have no problem with alternative block chains, I just don't personally like how this particular alternative block chain is being promoted and developed and introduced. In particular, I think it is unfair to keep hundreds of thousands of whatever-coins for yourself, and it is unwise to think that a bitcoin variation that is "almost exactly like bitcoin, only different because... well, just because" will ever have anything more than speculative value.
Are you sure they are not the same person? LOL
Fred Twingham at least isn't immediately apparent as an anagram of anyone I know in the bitcoin community (Thomas Nasakioto ≅ Satoshi Nakamoto)
Are you sure they are not the same person? LOL
Fred Twingham at least isn't immediately apparent as an anagram of anyone I know in the bitcoin community (Thomas Nasakioto ≅ Satoshi Nakamoto)
There's a guy here saying the code will break once it reaches 21 million coins
https://bitcointalksearch.org/topic/m.451411
Which makes it no different than a couple old versions of the bitcoin client. An oversight in the code doesn't make it a scam, though I am keeping a close eye on how quickly this one gets fixed...https://bitcointalksearch.org/topic/m.451411
Indeed. We're working on a updates to the Ixcoin client such as integrating 0.3.25 changes. The above issue won't come into play for a few years so we still have time but we'll address it in the next version.
I think that most miners will abandon mining ixcoin as soon as it stops being more profitable than mining btc. Do you think this will happen? Why / why not?
What do you think will happen if and when the majority of miners abandon ixcoin for mining bitcoin? How long will it take before the next difficulty decrease will come into effect? How many blocks per hour will be generated with a sudden drop of miners, and how will that affect the ixcoin network? Have you done these and similar calculations, or is starting the ixcoin chain more of an experiment for you?
Also, why do you think a faster generation of new coins is advantageous enough to merit starting a new blockchain? How do you respond to the idea that you started this new blockchain with the primary purpose being to make you an early adopter so you can get rich quick, especially considering you made 250'000 ixcoins for your personal use (not bounties) before even announcing your project? Many people on this forum including me think just that.
Edit1: Added ", especially considering you made 250'000 ixcoins for your personal use (not bounties) before even announcing your project?".
Are you sure they are not the same person? LOL
Indeed. We're working on a updates to the Ixcoin client such as integrating 0.3.25 changes. The above issue won't come into play for a few years so we still have time but we'll address it in the next version.
I think what you mean is you're going to use the code written for the bitcoin client...
Seeing as you didn't even changed some essential parts of the code i really doubt you will work on updating it on your own.
You are as much of a programmer as I am...
And by the way: who is "we"? LOL
There's a guy here saying the code will break once it reaches 21 million coins
https://bitcointalksearch.org/topic/m.451411
Which makes it no different than a couple old versions of the bitcoin client. An oversight in the code doesn't make it a scam, though I am keeping a close eye on how quickly this one gets fixed...https://bitcointalksearch.org/topic/m.451411
Indeed. We're working on a updates to the Ixcoin client such as integrating 0.3.25 changes. The above issue won't come into play for a few years so we still have time but we'll address it in the next version.
... and I'm trying to figure out why my immediate reaction is "yuck."
I guess I just don't see the point of IxCoin. I just spent some time looking back through all the original poster's messages, and I don't see any prior discussion of goals of IxCoin, how it should be designed, etc.
If the goal is to let more people be early adopters of a new cyber-currency, then it seems to me giving early bitcoin adopters a bunch of IxCoin goes against that goal.
I guess I just don't see the point of IxCoin. I just spent some time looking back through all the original poster's messages, and I don't see any prior discussion of goals of IxCoin, how it should be designed, etc.
If the goal is to let more people be early adopters of a new cyber-currency, then it seems to me giving early bitcoin adopters a bunch of IxCoin goes against that goal.
Sorry you feel this way.
It was a gesture to motivate you to have a look. I'd be happy to donate your Ixcoins to an Ixcoin Faucet (if someone develops it).
There's a guy here saying the code will break once it reaches 21 million coins
https://bitcointalksearch.org/topic/m.451411
https://bitcointalksearch.org/topic/m.451411
Which makes it no different than a couple old versions of the bitcoin client. An oversight in the code doesn't make it a scam, though I am keeping a close eye on how quickly this one gets fixed...
Ixcoin breaking the ice sort of speak makes me wonder if we'll start seeing a lot more "mee too" forks.
I'd love to see that, makes for some quick profit if people are buying them far above difficulty ratio.
Yeah, if someone decides to make one that matures faster than IXcoin please let me know in advance so I get a chance to mine before all the others with the mega hash power dump IXcoin for it.
There's a guy here saying the code will break once it reaches 21 million coins
https://bitcointalksearch.org/topic/m.451411
https://bitcointalksearch.org/topic/m.451411
Ixcoin breaking the ice sort of speak makes me wonder if we'll start seeing a lot more "mee too" forks.
I'd love to see that, makes for some quick profit if people are buying them far above difficulty ratio.
This should be a fun couple of days ahead.
Dang, and the mining capacity keeps on increasing...
Pool Hash rate (MHash/second) 84649.9
Hey at the very least this will take some pressure off the bitcoin miners A difficulty DECREASE is very much welcome for a change.
Pool Hash rate (MHash/second) 84649.9
Hey at the very least this will take some pressure off the bitcoin miners
A difficulty DECREASE is very much welcome for a change.I think difficulty will be going up again shortly... and with another 4x difficulty increase it will not be worth it to mine anymore.
Not saying you are wrong but the last two difficulty increases people said the same thing. Maybe the one after the next one.
Heh...pool hashrate is dropping Pool Hash rate (MHash/second) 78407
Someone with a lot of hashing muscle is calling it quits, or going solo. Pump and dump? Time to watch the exchange to see what price does.
Edit: ok, strike that..it seems the hash rate is oscillating wildly...I'm sure you guys can think of several scenarios as to why this is happening.
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