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Topic: Anyone with a lot of MH/s want to fork the TerraCoin chain? - page 2. (Read 4201 times)

hero member
Activity: 617
Merit: 531
Why would anyone destroy an alt coin it seems stupid to me

Surely running a 51% is only testing the coins robustness. It is not stupid to test coins in this way but sensible in my opinion.

We are here because we are interested in alternative cryptocurrencies. We want them to evolve into something better than what is already available. We are all watching the Darwinian process of cryptocurrencies. Launching tests on coins like 51% helps weed out the weak coins. If a coin can survive a 51% attack then we can all be reassured by that fact. If it cannot then it was not meant to be.

I have 2.4Mh to contribute.
hero member
Activity: 490
Merit: 500

+1 I think this was a terrible idea.  What happens if we send bitcoin to terracoin addy?  Lost coins?

Assuming the fork simply left addresses alone, Bitcoin would go to the Bitcoin clone of the terra address. In practice, yes, lost coins.

or a gift awaiting some fortunate newcomer :-)
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
Correction, my argument has logic, you just disagree with it. Not everything is automatically a pump and dump you know. Let people work on their projects in peace. We aren't taking anything from the Bitcoin community, so it would be nice to just let it go. Not once has an alt-coing threatened BTC in any way, let us play our monopoly with our own monopoly money. There are better uses of people's time then messing up others projects.

Besides, after terracoin you can just fork bitcoin again, and again, and again. On and on. Terracoin has zero monetary value, let it be some people's educational project. Sheez.

Do not waste time on them, really. Don't wake them up from Bitcoin dream, that way it'll hurt much more one day when Satoshi and
few other early adaptors decide to cash-out, and flood exchanges with their millions of BTC premined and hoarded for so many years.
+1
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
It's actually worse than pointless, since the addresses used start with a 1 the same as bitcoin.  This is something that the creators of the other alternate chains did not mess up!  A terracoin address is not easily identifiable as a terracoin address.

+1 I think this was a terrible idea.  What happens if we send bitcoin to terracoin addy?  Lost coins?

I would hope that whatever you're doing with BTC you keep well separate from TRC. :-)

But I do hope they fix that. Just to be more clear.
legendary
Activity: 1133
Merit: 1050
It's actually worse than pointless, since the addresses used start with a 1 the same as bitcoin.  This is something that the creators of the other alternate chains did not mess up!  A terracoin address is not easily identifiable as a terracoin address.

+1 I think this was a terrible idea.  What happens if we send bitcoin to terracoin addy?  Lost coins?
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME

Does that extend to personal property? Because gasoline is pretty cheap.

I'm going to edit that to note the reference to the Joker in Batman when he was talking about why he doesn't need ton's of money. Because the things he likes "gasoline and explosives" are cheap.

This my second edit: That's a really jerk way of thinking about things. Websites are destroyed cheaply and easily, so are sand castles, and people's hard work. There is no security difference with terracoin, it's an exact copy of bitcoin that new users can fool around with. Let it go, just because you can be a jerk doesn't mean you have to be one. No one 51% bitcoin at it's start because people thought it was cool and enjoyed the experiment. Let others have their curiosity and fun.

Very poor analogies. Bitcoin is self regulated by a consensus of the miners. The miners can choose to do whatever they want. If they want to fork the chain so be it. Those are the rules of the game, no use crying about it just because people are trying to foil a potential pump and dump.

Society and regular business is regulated by government laws decided (hopefully) by a democratic majority. So you are not allowed to destroy other peoples property/work etc. With Terracoin you are dead wrong about destroying someones hard work... nothing is being destroyed that is the way the system has been designed.

Note: I am a proponent of diversity in cryptocurrencies as I believe Bitcoin cannot survive alone, ie. if it is truly a revolutionary concept then competitors must arise forming a Crypto currency ecosystem... and this system may one day not include BTC! So I am not a bitcoin fanboy/hoarder etc. Just there is nothing morally wrong with attacking chains, thats how they were designed. Your argument is just poor and lacks logic. You got a problem with that go pump PPC instead  Grin

Correction, my argument has logic, you just disagree with it. Not everything is automatically a pump and dump you know. Let people work on their projects in peace. We aren't taking anything from the Bitcoin community, so it would be nice to just let it go. Not once has an alt-coing threatened BTC in any way, let us play our monopoly with our own monopoly money. There are better uses of people's time then messing up others projects.

Besides, after terracoin you can just fork bitcoin again, and again, and again. On and on. Terracoin has zero monetary value, let it be some people's educational project. Sheez.
sr. member
Activity: 250
Merit: 250

Does that extend to personal property? Because gasoline is pretty cheap.

I'm going to edit that to note the reference to the Joker in Batman when he was talking about why he doesn't need ton's of money. Because the things he likes "gasoline and explosives" are cheap.

This my second edit: That's a really jerk way of thinking about things. Websites are destroyed cheaply and easily, so are sand castles, and people's hard work. There is no security difference with terracoin, it's an exact copy of bitcoin that new users can fool around with. Let it go, just because you can be a jerk doesn't mean you have to be one. No one 51% bitcoin at it's start because people thought it was cool and enjoyed the experiment. Let others have their curiosity and fun.

Very poor analogies. Bitcoin is self regulated by a consensus of the miners. The miners can choose to do whatever they want. If they want to fork the chain so be it. Those are the rules of the game, no use crying about it just because people are trying to foil a potential pump and dump.

Society and regular business is regulated by government laws decided (hopefully) by a democratic majority. So you are not allowed to destroy other peoples property/work etc. With Terracoin you are dead wrong about destroying someones hard work... nothing is being destroyed that is the way the system has been designed.

Note: I am a proponent of diversity in cryptocurrencies as I believe Bitcoin cannot survive alone, ie. if it is truly a revolutionary concept then competitors must arise forming a Crypto currency ecosystem... and this system may one day not include BTC! So I am not a bitcoin fanboy/hoarder etc. Just there is nothing morally wrong with attacking chains, thats how they were designed. Your argument is just poor and lacks logic. You got a problem with that go pump PPC instead  Grin
legendary
Activity: 1050
Merit: 1003
Why would anyone destroy an alt coin it seems stupid to me, leave it simulate itself i want to see how this plays out without manipulation  Sad

Nobody should have the power or control over any coin that's what Bitcoin is all about no control and full decentralization

I don't agree. Anything that can be cheaply destroyed should be destroyed. If no one tries to lay waste to these chains, there will be no empirical evidence of security differences across chains.

Does that extend to personal property? Because gasoline is pretty cheap.


No, but it extends to locks.
hero member
Activity: 826
Merit: 500
Crypto Somnium
I only have 3Gh but im down. Hit me up in IRC

I've got 2.5.  Only need another 45 to kill the network.

Use your hash power for something productive  Roll Eyes
legendary
Activity: 1484
Merit: 1005
I only have 3Gh but im down. Hit me up in IRC

I've got 2.5.  Only need another 45 to kill the network.
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
Why would anyone destroy an alt coin it seems stupid to me, leave it simulate itself i want to see how this plays out without manipulation  Sad

Nobody should have the power or control over any coin that's what Bitcoin is all about no control and full decentralization

I don't agree. Anything that can be cheaply destroyed should be destroyed. If no one tries to lay waste to these chains, there will be no empirical evidence of security differences across chains.

Does that extend to personal property? Because gasoline is pretty cheap.

I'm going to edit that to note the reference to the Joker in Batman when he was talking about why he doesn't need ton's of money. Because the things he likes "gasoline and explosives" are cheap.

This my second edit: That's a really jerk way of thinking about things. Websites are destroyed cheaply and easily, so are sand castles, and people's hard work. There is no security difference with terracoin, it's an exact copy of bitcoin that new users can fool around with. Let it go, just because you can be a jerk doesn't mean you have to be one. No one 51% bitcoin at it's start because people thought it was cool and enjoyed the experiment. Let others have their curiosity and fun.
legendary
Activity: 1050
Merit: 1003
Why would anyone destroy an alt coin it seems stupid to me, leave it simulate itself i want to see how this plays out without manipulation  Sad

Nobody should have the power or control over any coin that's what Bitcoin is all about no control and full decentralization

I don't agree. Anything that can be cheaply destroyed should be destroyed. If no one tries to lay waste to these chains, there will be no empirical evidence of security differences across chains.
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
I only have 3Gh but im down. Hit me up in IRC

Current difficulty is 2373 which means network hashing is at ~85 Ghash. You better join the train, else you'll be overrun big time.  Cheesy

I'm definitely already over-run!
hero member
Activity: 826
Merit: 500
Crypto Somnium
Why would anyone destroy an alt coin it seems stupid to me, leave it simulate itself i want to see how this plays out without manipulation  Sad

Nobody should have the power or control over any coin that's what Bitcoin is all about no control and full decentralization
legendary
Activity: 1118
Merit: 1002
I only have 3Gh but im down. Hit me up in IRC
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
TerraCoin doesn't really change anything in the bitcoin chain except for the block rate and diff retarget rate.  I don't think it serves any useful purpose except as a pump n' dump scheme.

It doesn't matter if it gets 51%'d now or not, it'll be dead in a month due to merged mining anyway.

It's a pointless fork.

As far as I can see, all other coins excluding Bitcoin are flawed even more than Bitcoin itself. Unless something much better emerges,
having "backup" Bitcoin chain is good idea.
It's not a backup if it is subject to the same risks. That's why IMHO ppcoin is the only bitcoin alternative which adds value: It experiments with a different network security model.
All chains add value if the people who set them up educate themselves about crypto currency. Just because one set of people have already done it all and told everyone, doesn't mean there isn't educational value for others in redoing their work all over again. I'm a working fashion photographer- my whole incentive to be hanging out on the computer learning code is Cryptocurrency. Otherwise I would be out with the models. Trust me. It might seem like a horribel choice to everyone else, but I'm getting my kicks like this. So be it. That has value.
The only point I can agree upon is that you have more people developing and revising code. But there is no need to start a separate blockchain for that. IMHO the reason why people start a separate blockchain is because of the lack of funding. Pump'n'dump is currently the only feasible way to get a return on your coding (which is minimal if you just copy the chain). Right now I don't see it justified to buy into this blockchain. There is no proof of significant development other than keeping in sync with the bitcoin code.

Now it would be a different story if they had started development a while ago and would have augmented the code base significantly.

Maybe they are just tinkering around? They don't have to be doing it for outright profit no? And any of us can also go tinker with it as well. I think it hardly unlikely the bitcoin developers would pay someone like me much head, but with other codes and chains less experienced programers can feel free to experiment.

I think you could also agree though that it doesn't hurt anyone else- terracoin wasn't even announced here, we found it and hopped on. It's fair that they could be working on their own project, and we find out about it. It's not so fair if we see them building their own club house and we just go burn it down. :-(
donator
Activity: 994
Merit: 1000
TerraCoin doesn't really change anything in the bitcoin chain except for the block rate and diff retarget rate.  I don't think it serves any useful purpose except as a pump n' dump scheme.

It doesn't matter if it gets 51%'d now or not, it'll be dead in a month due to merged mining anyway.

It's a pointless fork.

As far as I can see, all other coins excluding Bitcoin are flawed even more than Bitcoin itself. Unless something much better emerges,
having "backup" Bitcoin chain is good idea.
It's not a backup if it is subject to the same risks. That's why IMHO ppcoin is the only bitcoin alternative which adds value: It experiments with a different network security model.
All chains add value if the people who set them up educate themselves about crypto currency. Just because one set of people have already done it all and told everyone, doesn't mean there isn't educational value for others in redoing their work all over again. I'm a working fashion photographer- my whole incentive to be hanging out on the computer learning code is Cryptocurrency. Otherwise I would be out with the models. Trust me. It might seem like a horribel choice to everyone else, but I'm getting my kicks like this. So be it. That has value.
The only point I can agree upon is that you have more people developing and revising code. But there is no need to start a separate blockchain for that. IMHO the reason why people start a separate blockchain is because of the lack of funding. Pump'n'dump is currently the only feasible way to get a return on your coding (which is minimal if you just copy the chain). Right now I don't see it justified to buy into this blockchain. There is no proof of significant development other than keeping in sync with the bitcoin code.

Now it would be a different story if they had started development a while ago and would have augmented the code base significantly.
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
TerraCoin doesn't really change anything in the bitcoin chain except for the block rate and diff retarget rate.  I don't think it serves any useful purpose except as a pump n' dump scheme.

It doesn't matter if it gets 51%'d now or not, it'll be dead in a month due to merged mining anyway.

It's a pointless fork.

As far as I can see, all other coins excluding Bitcoin are flawed even more than Bitcoin itself. Unless something much better emerges,
having "backup" Bitcoin chain is good idea.
It's not a backup if it is subject to the same risks. That's why IMHO ppcoin is the only bitcoin alternative which adds value: It experiments with a different network security model.
All chains add value if the people who set them up educate themselves about crypto currency. Just because one set of people have already done it all and told everyone, doesn't mean there isn't educational value for others in redoing their work all over again. I'm a working fashion photographer- my whole incentive to be hanging out on the computer learning code is Cryptocurrency. Otherwise I would be out with the models. Trust me. It might seem like a horribel choice to everyone else, but I'm getting my kicks like this. So be it. That has value.
What I think is the greatest deal with Terracoin is that developers are unknown. I hope it'll stay that way. Devs, don't go public, ever!
Use all means neccessary to stay anonymous. Don't fall for "fame / glory" bullshits, you'll expose yourself to those you don't wanna meet.
How is anonymity beneficial? People still need to revise code changes, since they never should just trust the developer blindly...

But that's the wonderful thing about open source- and Github. We see all the changes whenever they are made. I just went and checked the code myself to see the Checkpoint added. They can't "sneak" something in- it's all public and you're notified when a change is made and you can check it out yourself. I'm not downloading precompiled clients, i'm building from the Git Source. Something I didn't know how to do until the end of last week when I heard about terracoin and thought "I want to be first to start mining this! But I don't trust that the GUI isn't a wallet stealing trojan" So I spend a LONG weekend learning and built it from source. My first time. :-) So yeah- pointless chain? It's got value to me. Doesn't mean I will slave over it forever or make it my personal "BITCOIN" but I can take what I learn from this to my next project: perhaps a bitcoin one.
donator
Activity: 994
Merit: 1000
TerraCoin doesn't really change anything in the bitcoin chain except for the block rate and diff retarget rate.  I don't think it serves any useful purpose except as a pump n' dump scheme.

It doesn't matter if it gets 51%'d now or not, it'll be dead in a month due to merged mining anyway.

It's a pointless fork.

As far as I can see, all other coins excluding Bitcoin are flawed even more than Bitcoin itself. Unless something much better emerges,
having "backup" Bitcoin chain is good idea.
It's not a backup if it is subject to the same risks. That's why IMHO ppcoin is the only bitcoin alternative which adds value: It experiments with a different network security model.

What I think is the greatest deal with Terracoin is that developers are unknown. I hope it'll stay that way. Devs, don't go public, ever!
Use all means neccessary to stay anonymous. Don't fall for "fame / glory" bullshits, you'll expose yourself to those you don't wanna meet.
How is anonymity beneficial? People still need to revise code changes, since they never should just trust the developer blindly...
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
I think the Terracoin folks do read this thread, or perhaps it's coincidence, but I noticed they added a checkpoint 2 hours ago to the code so if you compile from source the chain is safe from a 51% going back in time and rewriting all that's already been done. Not that a 51% wouldn't still mess things up for us experimenting it. But at least they seem to be on top of things to some degree.

Perhaps it's wise they stay a bit incognito for now- it saves them the trolling!
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