Topic: delete - page 15. (Read 113473 times)

http://thedailycrypto.com/post/auroracoin-is-done-for/

Auroracoin is fine.

I think it is just called being human. Why would people leave millions of dollars of Bitcoin lying around on an exchange like Mt Gox for instance? Humans think they are invincible or nothing bad could ever happen to them. Why do you think it is so difficult to force young people to go buy health insurance? Are they trying to scam society by getting by for free or is it because they think they are healthy and won't get majorly sick?

I <3 a cups. No need for big tits

You are not familiar with the history then.

It was known long ago that scrypt was not secure. Better approaches have long been known.

The ONLY reason to deliberately create yet another scamcoin is as a scam. Pretending not to know you are creating a scam is bullshit, it merely is deliberate ignorance pretended by scammers so as to pretend their scamming is not deliberate. They knew well ahead of time that such chains are basically scams, that even the highest hashrate examples are not really secure, that just some stupid meme conjured up more hashpower than Litecoin had almost overnight thus showing even litecoin, far and away the highest hashrate of the lot, was a long long way from having enough hashing power to be secure.

-MarkM-

Well at least you are fair, because a lot of posters on here seem to define a scamcoin as anything that wasn't first out the gate to mimic Bitcoin.

There's a difference between "scam" which implies intent vs. being irresponsible.  You need to make a lot of assumptions to conclude that it's a scam.. and there's not enough evidence of such.

It maybe not the best choice/design decision made at the get-go.. but rarely is anything is launched perfectly: you learn as you go.  This is evident even in bitcoins own history.

So, I would not consider that, "scam from the get-go".

Basically, yes. It was a scam conceived to try to keep buggy-whip makers in business when automobiles were on the horizon.

Even if we get scrypt ASICs out in quantity fast it still might never be secure unless it and DOGE adapt so as to be able to be merged mined together. Otherwise one of the two will almost always have less than half of the scrypt hash-power.

-Markm-

MarkM: was there ever a time when the bitcoin block chain was known-vulnerable ?

Use of malicious negative feedback to suppress free speech brings shame on the bitcoin community.

PLUS Litecoin team/community claims alot of untrue stuff nowdays.

Fyrstikken (cryptorush) would call it a commodity: http://www.youtube.com/watch?v=8q9DvydzAsY

Quote: "Bitcoin worshipers will never go to heaven " LOL

Price trending to the cost of mining it.

Use of malicious negative feedback to suppress free speech brings shame on the bitcoin community.

Considering most of all these coins are clones of Litecoin can we safely call Litecoin a scamcoin then?

tl;dr

No fork? OP failed again?

Wow, there are some real pieces of work here in this thread... If you think Bitcoin is the only crypto of the future, you're delusional. Alt coins help distribute the wealth and help more people to get into the world of crypto-currencies. If you are a large holder of bitcoin and think that you deserve to be filthy rich just because you were lucky enough to hear about it early, then you are no different then the scumbags that currently control the money system. I got into BTC when it was a dollar, and I fully support alternate crypto-currencies. I think its very healthy for Bitcoin as a whole because it just brings more interest into the space. BTW, more coins do not negatively affect the price of BTC, in fact it generally helps because in order to enter the crypto-currency market you generally have to buy BTC first! Just like the dollar gets boosted by being priced in USD... This is the free market at its finest, no longer do we have to rely on central authority scumbags and beg for them to throw us a bone. If there is a community of people who require a currency specific to their needs, one will sprout up from the bottom, and nobody can stop them! It will find a value relative to their productivity and it's acceptance, allowing for the smooth transfer of value with no bottlenecks and would be controllers.  "Alt Coins" will continue to survive/spread/innovate whether you like it or not, and are an important part of the revolution that is P2P money...

It is not an important experiment, it is a total scam from the get-go.

A currency needs a secure ledger, so the very first step is to determine whether any ledgers at all can ever be secured and if so how, then having determined the most secure form of ledger start using it to account whatever currency you wish to account.

Cloning a scamcoin is so totally far from that that it is a totally insanely irresponsible thing to do.

-MarkM-

That's because they never were in te hands of "the many" in the first place.

Make your mind up - either you want crypto to succeed and gain a foothold or not. Icelanders are being distributed with something that's next to worthless with the prospect that they will "give it value" through gradually increasing adoption by their economy.

It's got nothing to do with "socialism" or any other political philosophy nonsense.

Yes.. i do agree with that.  

I'm not sure what value there was letting foreigners mine the other 50%, other than perhaps some initial support from mining community and making some headlines.  (but hey i ain't complaining.. i made a lot off mining it and sold at 150..)

Anyways should the developer chose to, he can always hard fork again to make it 100% PoS, and still use existing blockchain.  Would have to distribute a versioned client, but it's always possible to go that direction...

There's multiple options to pursue... not the end of the world for this coin, in any case.  Too much FUD being thrown around...

In any case, I really wish AUR and the Icelanders luck in this, It's a very important experiment for cryptos, and we should as a community support this effort.  

No, you don't deserve to have things stolen from you; but you also can't act like it wasn't your fault for leaving it unlocked in the first place. The blame rests on both shoulders, and to think that it's only the person doing the stealing's fault is just plain idiotic.

The whole point of the proof of work system is precisely to prevent judges arbitrating who owns what.

That who-ever has the most hash power aribtrates is exactly the entire point.

If you want judges in charge just use Open Transactions or MySQL or whatever for your ledger. Then it can be changed by court order no problem.

-MarkM-

Sorry but I don't believe in this logic. You can't go before a court of law and declare, "Your honor, I am entitled to this stolen property because John Doe left their front door unlocked", it doesn't excuse the criminal behavior in itself.

You can simply make a proof of stake coin or a Ripple clone or a NXT clone or whatever and issue in its first block(s) all the coins the Aurora chain shows the ownership of, or issue the coins onto Ripple or other "issue custom tokens" system similarly. So yes it is fixable, but in fixing it you might as well only issue to Icelanders, the whole garbage of having 50% go to foreigners is pointless wastefulness.

-MarkM-