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Topic: [ANNOUNCE] Ixcoin - a new Bitcoin fork - page 26. (Read 128457 times)

legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
August 12, 2011, 05:32:33 AM
My only real and valid concern that may have been addressed earlier, is whether or not ixcoin has the kill switch inside, and if so who holds the key to it?

The Ixcoin code, like the Bitcoin code, does not have a kill switch.
The bitcoin code had a kill switch (called 'safe mode') in versions 0.3.11 to 0.3.19.
http://bitcointalk.org/?topic=898.0
http://bitcointalk.org/?topic=2228
hero member
Activity: 798
Merit: 1000
August 12, 2011, 05:20:20 AM
Ta Smiley
legendary
Activity: 3080
Merit: 1080
August 12, 2011, 05:18:54 AM
What's the difficulty right now?

4096

run ixcoind -daemon
and then
run ixcoind getdifficulty
hero member
Activity: 798
Merit: 1000
August 12, 2011, 05:14:46 AM
What's the difficulty right now?
full member
Activity: 172
Merit: 283
Thomas Nasakioto
August 12, 2011, 05:13:26 AM
My only real and valid concern that may have been addressed earlier, is whether or not ixcoin has the kill switch inside, and if so who holds the key to it?

The Ixcoin code, like the Bitcoin code, does not have a kill switch.
newbie
Activity: 42
Merit: 0
August 12, 2011, 05:08:58 AM
In regard to namecoin, does it work with dynamic ip addresses?

It will, until your dynamic IP gets re-assigned.

Right now, domain resolution for .bit TLD are purely manual. Basically, namecoin is not much different from ixcoin except that NMC has the potential to be actually useful... if somebody can convince ISPs all over the world, or add automated decentralized DNS lookup into BIND. A very big if.



member
Activity: 266
Merit: 10
August 12, 2011, 03:53:10 AM
Namecoin value will skyrocket in near future with adding support or merged mining to Bitcoin, so Namecoin difficulty and blockchain will be the same as Bitcoin, so Namecoin will get exactly the same security and properties as Bitcoin plus some advantage with DNS features. I don't think ixcoin will be merged with bitcoin ever.
full member
Activity: 224
Merit: 100
August 12, 2011, 03:32:56 AM
In the end , IXcoins will have the effect of adding 8 decimal points to bitcoin. I find that absolutely hilarious.

In regard to namecoin, does it work with dynamic ip addresses?


sr. member
Activity: 266
Merit: 251
August 12, 2011, 03:14:39 AM
However, if nothing else, there is significant additional risk with ixcoins. I feel perfectly safe leaving assets in BTC overnight or when I go away. If I had a heap of IXC, I wouldn't take my eyes off them for an hour, lest they be worthless when I return.

And this is why pretty much no one will bother to accept them.  Even ignoring the need to download new clients and re-tool exchanges and shopping-cart interfaces, why would you want to accept a currency that's even more volatile than BTC?  If someone offers to pay you in IXC, you may as well just tell them to exchange it for BTC and send that to you.
full member
Activity: 131
Merit: 100
August 12, 2011, 02:16:49 AM
Ha.. Totally missed this thread.  Not planning to mine for ixcoin myself as the OP seems like a weasel in my opinion....probably means ixcoin will hit the magical 1/16th of an ounce of bitcoin.  
legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
August 12, 2011, 02:10:52 AM
NMC speculators are banking on the Namecoin system actually being used for its intended purpose someday, and thus increasing in value.  Maybe it'll happen, maybe it won't.  IXC speculators are hoping for what exactly?  What's going to drive an increase in IXC price, other than more speculators?
Bizarrely, it may have all it needs to be a medium of exchange. It's scarce. It's easily exchanged. It can be denominated in units and divided. Identical denominations are interchangeable in the market. It's (at least for right now) easily exchanged for bitcoins, which means it can be easily (indirectly) traded to hard currency. At least right now, that may be enough.

If bitcoins grow much faster than ixcoins, as I expect, it may act in the market as a kind of fractional reserve system for bitcoins. If I know I can trade X ixcoins for Y bitcoins, I may not particularly care whether I get X ixcoins or Y bitcoins (and to the extent I do care, a few extra coins might make me not care so much anymore). So every extra X ixcoins produces may act in the market as Y extra bitcoins because Ixcoins share so many of bitcoin's properties.

I think this is an absurd and mind-bogglingly bizarre result. But it's not entirely implausible. However, if nothing else, there is significant additional risk with ixcoins. I feel perfectly safe leaving assets in BTC overnight or when I go away. If I had a heap of IXC, I wouldn't take my eyes off them for an hour, lest they be worthless when I return.
sr. member
Activity: 266
Merit: 251
August 12, 2011, 01:52:26 AM
Again, fundamentals.  What niche does Ixcoin fill?  What can you do with it that you can't already do with Bitcoin?  Why should merchants bother to accept it instead of (or in addition to) Bitcoin?

In other words, why would this ever take off?

The niche is profit!

I meant besides the niche of "taking money from suckers".

I like how we all pretend that forks have to have some extra purpose or other functionality aside from just using different math and Namecoin is always everyone's favorite example. Sure, it serves a meaningful purpose and that's awesome, I'm happy it's there and agree with its purpose, but really look at the trade volume on Bitparking's NMC exchange and look at how many registrations ACTUALLY happen on the namecoin network in a day and tell me it's not just another den of speculation...

NMC speculators are banking on the Namecoin system actually being used for its intended purpose someday, and thus increasing in value.  Maybe it'll happen, maybe it won't.  IXC speculators are hoping for what exactly?  What's going to drive an increase in IXC price, other than more speculators?

one word, greed. not necessarily in a negative sense. fear and greed are two common human emotion when money is involved.

With all the talks about inflation/deflation on this forum, ixcoin still uses similar first-inflate-then-deflate algorithm, this in itself says something.

Uh, okay... what does it say, exactly?
legendary
Activity: 1512
Merit: 1036
August 12, 2011, 01:43:09 AM
1. Mine the hell out of this to increase difficulty 1024,4096,16384,65536,262144,1048576...,
2. Leave,
3. ....,
4. Profit in LuLz.
legendary
Activity: 1441
Merit: 1000
Live and enjoy experiments
August 12, 2011, 01:20:55 AM

Again, fundamentals.  What niche does Ixcoin fill?  What can you do with it that you can't already do with Bitcoin?  Why should merchants bother to accept it instead of (or in addition to) Bitcoin?

In other words, why would this ever take off?
one word, greed. not necessarily in a negative sense. fear and greed are two common human emotion when money is involved.

With all the talks about inflation/deflation on this forum, ixcoin still uses similar first-inflate-then-deflate algorithm, this in itself says something.
sr. member
Activity: 252
Merit: 251
August 12, 2011, 01:12:29 AM
Again, fundamentals.  What niche does Ixcoin fill?  What can you do with it that you can't already do with Bitcoin?  Why should merchants bother to accept it instead of (or in addition to) Bitcoin?

In other words, why would this ever take off?

In my opinion it won't. You're right that it does nothing better than Bitcoin, but people have and will make money on IXCoin. That is why it will exist, until the bottom drops out of it and some people lose money.

We need to see some real improvements upon Bitcoin before we will have a real challenger. And even then, Bitcoin itself could just improve itself (less than 10 minute blocks, daily retargets, etc).
hero member
Activity: 742
Merit: 500
August 12, 2011, 01:04:40 AM
I like how we all pretend that forks have to have some extra purpose or other functionality aside from just using different math and Namecoin is always everyone's favorite example. Sure, it serves a meaningful purpose and that's awesome, I'm happy it's there and agree with its purpose, but really look at the trade volume on Bitparking's NMC exchange and look at how many registrations ACTUALLY happen on the namecoin network in a day and tell me it's not just another den of speculation...
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
August 12, 2011, 12:59:21 AM
How do you come by the conclusion that the excitement has died Huh you guys realize that this thing has really only been announced in mass yesterday right Huh?? And you also realize that the difficulty at the moment of writing this is 1024 right Huh How in the world do you figure that it is over Huh I know internet time makes everything accelerated but come on .... the thing is running for (1 day) and you decide it is at the end of its life cycle Huh I must be crazy but no matter how bad of an idea this is I can almost certainly say it is not the end of ixcoin. On the contrary the beginning, as more ppl hear about it even the skeptical will dabble a little in it. and that dabbling hasn't happened yet. And Some will buy it on speculation saying hey what the heck, i'll buy a few btc's worth incase this really takes off. And I would not advise them against it. No one knows where this can go. Look at namecoin, it's still hanging around. And in the inception of bitcoin i'm sure there were alot of trolls like i see commenting here saying it would die but it hasnt died. Long story short even if Ixcoin is going to fail, imho its not at that stage yet...

Thats just my 2 ixcoins..

Again, fundamentals.  What niche does Ixcoin fill?  What can you do with it that you can't already do with Bitcoin?  Why should merchants bother to accept it instead of (or in addition to) Bitcoin?

In other words, why would this ever take off?

The niche is profit!
sr. member
Activity: 266
Merit: 251
August 12, 2011, 12:48:11 AM
How do you come by the conclusion that the excitement has died Huh you guys realize that this thing has really only been announced in mass yesterday right Huh?? And you also realize that the difficulty at the moment of writing this is 1024 right Huh How in the world do you figure that it is over Huh I know internet time makes everything accelerated but come on .... the thing is running for (1 day) and you decide it is at the end of its life cycle Huh I must be crazy but no matter how bad of an idea this is I can almost certainly say it is not the end of ixcoin. On the contrary the beginning, as more ppl hear about it even the skeptical will dabble a little in it. and that dabbling hasn't happened yet. And Some will buy it on speculation saying hey what the heck, i'll buy a few btc's worth incase this really takes off. And I would not advise them against it. No one knows where this can go. Look at namecoin, it's still hanging around. And in the inception of bitcoin i'm sure there were alot of trolls like i see commenting here saying it would die but it hasnt died. Long story short even if Ixcoin is going to fail, imho its not at that stage yet...

Thats just my 2 ixcoins..

Again, fundamentals.  What niche does Ixcoin fill?  What can you do with it that you can't already do with Bitcoin?  Why should merchants bother to accept it instead of (or in addition to) Bitcoin?

In other words, why would this ever take off?
full member
Activity: 130
Merit: 100
August 12, 2011, 12:35:38 AM
I'm pissed because up until now I'd never really lost on bitcoin. I've missed out on all the major opportunities due to buying and selling at the wrong time but somehow i'd always managed to just break even. Now with this I have actually lost money and i'm not happy about it. It's all my own fault yes and obviously I wanted something for nothing but I got nothing for something and I should have seen something like this coming a mile away but I got caught out and I want to rant about it.

what did you do freak out and sell low?

Yes, I probably should have waited longer to get more of my BTC back as it had risen a bit since I sold but overall I think this thing will die soon. The "investors" will drop of now that the excitement has died and it will soon stop being profitable to mine.

How do you come by the conclusion that the excitement has died Huh you guys realize that this thing has really only been announced in mass yesterday right Huh?? And you also realize that the difficulty at the moment of writing this is 1024 right Huh How in the world do you figure that it is over Huh I know internet time makes everything accelerated but come on .... the thing is running for (1 day) and you decide it is at the end of its life cycle Huh I must be crazy but no matter how bad of an idea this is I can almost certainly say it is not the end of ixcoin. On the contrary the beginning, as more ppl hear about it even the skeptical will dabble a little in it. and that dabbling hasn't happened yet. And Some will buy it on speculation saying hey what the heck, i'll buy a few btc's worth incase this really takes off. And I would not advise them against it. No one knows where this can go. Look at namecoin, it's still hanging around. And in the inception of bitcoin i'm sure there were alot of trolls like i see commenting here saying it would die but it hasnt died. Long story short even if Ixcoin is going to fail, imho its not at that stage yet...

Thats just my 2 ixcoins..
sr. member
Activity: 266
Merit: 251
August 11, 2011, 11:39:57 PM
But without traders like him, who will pay you to mine ixcoins?

You are =).

All your base are belong to us.

Yeah, I'm sure I'll give in and start buying IXC any day now.  ಠ_ಠ
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