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Topic: [ANNOUNCE] Ixcoin - a new Bitcoin fork - page 39. (Read 128451 times)

legendary
Activity: 2940
Merit: 1090
August 10, 2011, 08:22:52 PM
I point 1.4 GH at it earlier today for 30 minutes and generated 2000 IXC.

I think it' a waste of time personally. I'm still waiting for the reason why this is a good idea.
I don't see the valued added by this fork and believe me I'm trying....

Will you sell those 2000 IXC? If so, for how many DeVCoin? Or, how many GRouPcoin?

Or, if you can come up with a worthwhile quantity of them, I might even consider buying with BiTCoin. Though I dunno, the fees are scary high with Bitcoin because it is such a vastly valuable precious high powered currency more suitable for international balances of payments than having fun. Do you have any +3 or better magic swords? If so, in which server of which game? I might be interested in those too if they are P2P (I can take them to some other server of some other game)...

-MarkM-
full member
Activity: 224
Merit: 100
August 10, 2011, 08:22:23 PM
I have no idea , it was at about 3PM EST that I mined them. I think it was at 4. I don' know how to figure out the difficulty.
legendary
Activity: 1386
Merit: 1004
August 10, 2011, 08:17:31 PM
I point 1.4 GH at it earlier today for 30 minutes and generated 2000 IXC.

I think it' a waste of time personally. I'm still waiting for the reason why this is a good idea.
I don't see the valued added by this fork and believe me I'm trying....
So where is difficulty at now? 
full member
Activity: 224
Merit: 100
August 10, 2011, 08:15:53 PM
I point 1.4 GH at it earlier today for 30 minutes and generated 2000 IXC.

I think it' a waste of time personally. I'm still waiting for the reason why this is a good idea.
I don't see the valued added by this fork and believe me I'm trying....
legendary
Activity: 1099
Merit: 1000
August 10, 2011, 08:15:27 PM
Quote
Seriously though, if A LOT of new chains were to start with the variables tweaked a bit wouldn't that just make Bitcoin stronger? You would have hundreds of tiny ones but only one big one. It would be hard for any of the small ones to really steal the market as they would be competing with so many others. Bitcoin has the advantage of being way ahead of the rest.

agreed
hero member
Activity: 672
Merit: 500
BitLotto - best odds + best payouts + cheat-proof
August 10, 2011, 08:13:11 PM

I think it would be interesting if someone tried a fork of bitcoin with the same speed-of-generating-new-bitcoins-graph, but with no cap at 21 million btc. Instead, when the 21 million is reached, there will be an inflation of 0.7 % per year. That would mean that the money supply would double once every 100 years. That is an acceptable loss from a currency user's perspective, and would add any benefit(s) an inflationary currency arguably has. I could totally live with my savings halving in value once every 100 years, if that sacrifice boosts the usage of the currency, prevents hoarding etc.

Very cool idea!

I don't know. If that came out I'd probably wait or have someone make another for 0.4% inflation. Smiley We can all be early adopters of our own currencies!

Seriously though, if A LOT of new chains were to start with the variables tweaked a bit wouldn't that just make Bitcoin stronger? You would have hundreds of tiny ones but only one big one. It would be hard for any of the small ones to really steal the market as they would be competing with so many others. Bitcoin has the advantage of being way ahead of the rest.
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
August 10, 2011, 08:11:31 PM
I been running 4.1 GH/s on it for the last 3 hours and 15 minutes.
hero member
Activity: 602
Merit: 502
August 10, 2011, 08:11:08 PM
There are many weaknesses in bitcoin. One thing that specially bothers me are the scalability issues. I would gladly welcome an alternative e-currency that improves on these weakness. Ixcoin certainly doesn't do that.
legendary
Activity: 1099
Merit: 1000
August 10, 2011, 08:10:24 PM
New digital currencies spring up everywhere, I don't like that. Detracts bitcoins and is not a benefit for Internet and the people. Although, the creator's name is suspicious.

I think the opposite, this new competing currencies will only make bitcoin stronger


Why? Really. I need to read why, without bias.

in brief, by killing the "bitcoin is hard to make, but easy to copy" argument
https://bitcointalksearch.org/topic/m.446402


But I don't see advantages it's easy to copy but... (unless you mean that bitcoin it's hard to destroy but it's all)

bitcoin must pass this challenge, the proof of concept of being replicated in many new, competing blockchains
that may kill bitcoin (which I do not believe) or make it stronger, as that naysayer argument will be demystified
hero member
Activity: 812
Merit: 1000
August 10, 2011, 08:08:54 PM

I think it would be interesting if someone tried a fork of bitcoin with the same speed-of-generating-new-bitcoins-graph, but with no cap at 21 million btc. Instead, when the 21 million is reached, there will be an inflation of 0.7 % per year. That would mean that the money supply would double once every 100 years. That is an acceptable loss from a currency user's perspective, and would add any benefit(s) an inflationary currency arguably has. I could totally live with my savings halving in value once every 100 years, if that sacrifice boosts the usage of the currency, prevents hoarding etc.

Very cool idea!


slight flaw in that logic is that with bitcoin, 21 million will never be reached.
full member
Activity: 196
Merit: 100
August 10, 2011, 08:01:29 PM

I think it would be interesting if someone tried a fork of bitcoin with the same speed-of-generating-new-bitcoins-graph, but with no cap at 21 million btc. Instead, when the 21 million is reached, there will be an inflation of 0.7 % per year. That would mean that the money supply would double once every 100 years. That is an acceptable loss from a currency user's perspective, and would add any benefit(s) an inflationary currency arguably has. I could totally live with my savings halving in value once every 100 years, if that sacrifice boosts the usage of the currency, prevents hoarding etc.

Very cool idea!
full member
Activity: 126
Merit: 100
August 10, 2011, 07:59:16 PM
I have 2.7Ghash/s running on it. will probably switch back to bitcoin in a day or 2.
member
Activity: 70
Merit: 10
Only a curious passer-by / FirstBits: 13zsc1
August 10, 2011, 07:58:26 PM
New digital currencies spring up everywhere, I don't like that. Detracts bitcoins and is not a benefit for Internet and the people. Although, the creator's name is suspicious.

I think the opposite, this new competing currencies will only make bitcoin stronger


Why? Really. I need to read why, without bias.

in brief, by killing the "bitcoin is hard to make, but easy to copy" argument
https://bitcointalksearch.org/topic/m.446402


But I don't see advantages it's easy to copy but... (unless you mean that bitcoin it's hard to destroy but it's all)
full member
Activity: 196
Merit: 100
August 10, 2011, 07:54:48 PM
Point made.

Has anyone got a calculation of the GH/s in Ixcoin now?

I'm pointing just under 1Gh/s at it for a while until i get my 2.4Gh/s rig up and running, then i'll probably go 80% Bitcoin and 20% Ixcoin if this seems to be doing well Tongue
full member
Activity: 123
Merit: 100
August 10, 2011, 07:53:40 PM
Has anyone got a calculation of the GH/s in Ixcoin now?

I'm pointing just under 1Gh/s at it for a while until i get my 2.4Gh/s rig up and running, then i'll probably go 80% Bitcoin and 20% Ixcoin if this seems to be doing well Tongue
legendary
Activity: 1099
Merit: 1000
August 10, 2011, 07:52:58 PM
New digital currencies spring up everywhere, I don't like that. Detracts bitcoins and is not a benefit for Internet and the people. Although, the creator's name is suspicious.

I think the opposite, this new competing currencies will only make bitcoin stronger


Why? Really. I need to read why, without bias.

in brief, by killing the "bitcoin is hard to make, but easy to copy" argument
https://bitcointalksearch.org/topic/m.446402
legendary
Activity: 2940
Merit: 1090
August 10, 2011, 07:50:29 PM
Someone should just pay Vladamir for one day to overtake and split their chain. Their network's gotta be pretty paltry. I wonder what the cost would be.

Someone should pay some goons to kick over kids sandcastles at the beach, and rip up their monopoly boards and burn their monopoly money.

-MarkM- (Oh and lemonade stands are right out...)
full member
Activity: 196
Merit: 100
August 10, 2011, 07:49:51 PM
I don't think I am. Unlike the distinctions of geography and sovereignty posed by, and which gave rise to nation-issued currency (a distinction which dwindles by the day), Bitcoin has no defining feature that can't be completely duplicated and or improved upon. There is no unique face, nation, personality or - despite the constant overstatement of it - real economy behind Bitcoin. A separate fork, which is incompatible with Bitcoin is indeed a "separate" currency, but the means by which people are drawn to it, are identical. The momentum behind Bitcoin even is really momentum behind the digital medium. If a well-crafted alternative came about, the ease of switching over - in both mining and general familiarity - could very easily have people jumping ship. There is nothing more to be done to do so than to boot up the alternative currency's client to mine and/or cash out of BTC and cash in to the new one.



The lesson here is someone is that the time will come (and it is not a question of if) when we will see the release a clone of Bitcoin with a more attractive feature set (wallet encryption, user-friendly client and the like), and it *will* pose a threat to Bitcoin. And the exact same reasons - i.e. get-rich-quick, early adoption - underlying Bitcoin will be behind the new currency's adoption. It's easy to knock Ixcoin because there isn't much improvement to draw anyone to it. But what if something more polished came along? Would you ignore it, convinced of its failure, or would you begin to mine... just in case... it took off? This is the inflation that Bitcoin zealots don't want you to see - and why people are pissing so hard on Ixcoin in this thread. The threat of devaluation doesn't come from an unlimited coinage within Bitcoin, but rather the potential of clones alongside it.

You're conflating changes to the client software with changes to the protocol/blockchain.  Any changes you want - "better" client, wallet encryption, more "polish", whatever you want, you can have it right now... all you need to do is code it.  

Changes to the blockchain are changes to the "rules" of the system, which make ixcoin incompatible with bitcoin.

With the momentum behind bitcoin, any "competitor" would need to offer significantly more than just "polish" on the GUI to be a true competitor.  Polish can be copied, it's the rules behind the system that make any particular instantiation unique and more/less desireable than any other.
member
Activity: 70
Merit: 10
Only a curious passer-by / FirstBits: 13zsc1
August 10, 2011, 07:48:40 PM
New digital currencies spring up everywhere, I don't like that. Detracts bitcoins and is not a benefit for Internet and the people. Although, the creator's name is suspicious.

I think the opposite, this new competing currencies will only make bitcoin stronger


Why? Really. I need to read why, without bias.
sr. member
Activity: 448
Merit: 250
August 10, 2011, 07:47:04 PM
New digital currencies spring up everywhere, I don't like that. Detracts bitcoins and is not a benefit for Internet and the people. Although, the creator's game is suspicious.

ftfy Wink
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