Topic: Difference between Quark and Bitcoin (Read 1795 times)

The biggest difference between Quark and Bitcoin is the price:
Quark: < 1$
Bitcoin : > 4500$

If you are new to the idea of crypto currencies, crypto commodities or however you want to call them, I recommend to begin with an evaluation of basic concepts.

Proof of Work (PoW) was introduced by Bitcoin and is used to secure the network and to verify the integrity of transactions.
There have been several attempts to introduce new algorithms for doing the PoW.

Litecoin was the first successful implementation of scrypt (Tenebrix was earlier but failed) to replace Bitcoin's SHA.
Lots of copy-cats followed.

Quarkcoin and Securecoin are examples of implementations that utilize a bunch of hashing algorithms and not only scrypt.

Primecoin is the first successful implementation of a completely different PoW that doesn't rely on creating hash values at all but on finding Cunningham Chains (which might create some data for number theorists - who knows... At least it is not as intrinsically useless as creating hashes).

And there are completely new approaches to secure a network without the need for tremendous amounts of mining devices running steadily to prevent from > 50% attacks.

Proof of Stake (PoS) is such a concept which was introduced by Peercoin. This is completely different from PoW (although Peercoin has PoW (the same like Bitcoin) as well; it is the PoW/PoS combo that makes Peercoin special).

Novacoin uses PoS, too. If you call Peercoin "Bitcoin + PoS", you might call Novacoin "Litecoin + PoS".
Meanwhile there have been lots of copy-cats for that PoS concept as well.

PoS secures the network and verifies the integrity of transactions not by energy consuming high-speed mining devices, but by the Peercoins themselves.
Explaining the whole process might lead too far. I recommend doing your own research. You might take this as a start
PoS might be one of the most revolutionary ideas about crypto coins since Bitcoin itself! Find out yourself...

It might not be possible to claim one coin "better" than another, because this rating is based on subjective evaluations. There is no absolute "good" or "bad" in this area.
You can try to rate them based on their concept.
Do they bring something new and useful?
Is that something that is likely to be integrated in the Bitcoin development or rather not because it conflicts with its basics?

Or you can try to estimate market adoption. Because a coin will not only succeed because it is good by design... But a good design might be better than a bad one. Once again: good/bad is up to you!

And you should try to find out whether you are more interested in investing or in speculation...
But for both investing and speculation I recommend not to spend money for things you don't understand and especially in the case of crypto coins/commodities: don't spend money you can't afford to lose!

It might be hard to succeed by speculation, because you bet against an agile market of well-informed people.
If you are heading for long-term investments, you might bet against lots of people who don't know about this all, yet, but might become interested in that stuff at some point of time in the future.

can u let us noobs know all those differences are that makes securecoin so much better?

You seem pretty mad for someone that should be filthy rich O_o

I summarized the quark scheme here: http://www.reddit.com/r/scamcoin/comments/1stzws/break_down_on_quark_scheme/

Just because this thread could be considered "fucking useless", I try to give it some meaning

QFT

Quark is like IFC with a diff algo..

you guys have saturated the market.. do understand the basics of supply and demand ?

most of you were not even around when this coin was released and know squat about it anyway..
you all show up late to the game, buy some and start spamming all over, Quark is the greatest thing since sliced bread.
When in reality SRC / Securecoin is a revised version of Quark and is superior in every way.. choke that down fanboys lol

MODS:
Please put an IQ test and / or age limit on the forum.. the tardlets are out in full force.

I think you should stop spamming these fucking useless threads

Although there is no need to say anything more, one can say something more.
Quark only offers a new approach for hashing. Yeah, nice. But...
...it's still only another way for doing Proof-of-Work (PoW).
Claiming that it's more secure (by utilizing several hashing algorithms) than a hashing algorithm that is still considered to be perfectly secure is funny although it might be true one day; maybe, or maybe not.

The main reason why I don't see a bright future for QRK is the fact that it is just another PoW coin.

PoW coins are secured by consuming lots of energy (the more successful the coin, the more energy is _and_ needs to be consumed).
I don't want to say this is a waste of energy compared to fiat systems (printing all the bills, minting all the coins, transporting them, storing them, renewing the used ones...)
And it is fore sure not wasted compared to the mining of gold (where the environmental pollution can be quite badly) or other precious metals in which you might want to invest your savings.

But it might be wasted compared to concepts which achieve network security of virtual commodities¹ without needing lots of energy. And that's where the Proof-of-Stake (PoS) might strike.

If you don't know yet about PoS, try to get some information. It might pay off better than to make a quick buck with something as QRK which is likely to be only subject of speculation.
Novacoin and Peercoin are popular implementations of a combined PoW/PoS process.
Where Peercoin was the first available implementation using Bitcoin's PoW (SHA-256) amending it with PoS, Novacoin did the same Litecoin-style (scrypt PoW + PoS).

PoS addresses security considerations more effectively than new or alternate hashing algorithms. PoS makes sure, that the coins (one might say "the network" instead) that need to be protected are the entities that protect the coins.
You might find this recursion strange, but I recommend to think twice about it
The main advantage of PoS is the little amount of energy needed to secure the network by coins! There is no need for huge amounts of mining devices to secure the network!

And because of this Peercoin is already much more energy efficient than Bitcoin. For every $1 of energy spent to secure the Bitcoin network, the Peercoin network does the same for $0.40!
...and that amount is going to decline for Peercoin.
Unfortunately I don't have numbers for Novacoin, but as Novacoin had a "bad start" (just like Quarkcoin?), I prefer focussing on Peercoin


¹you might call them crypto currencies as well, although they might lack the ability to really be a currency...

1. Quark is 20 times faster at confirmation compared to Bitcoin

Bitcoin is already nearly instant in any situation where it matters because IF (and that is a big if) you can ever use your BTC at Starbucks or a gas station for a smallish purchase, the odds of a double spend attack on a relatively small transaction is nil and businesses can accept them with zero confirms.  Plus, the technology to have off chain transactions exists, it is just currently not implemented.

2. Quark is more secure because it has 9 rounds of hashing from 6 hashing functions, rather than a single Hash function.

It's not.  Anything past one hash function suffers from diminishing returns on many orders of magnitude.  A large, strong, and widespread network will do far more for security than extra hash functions.

3. 10 times more Quarks are available compared to bitcoins. .i.e. 247 million quarks.

Who gives a shit?  Move the decimal place, it's all the same.

4. Quarks cant be mined with ASIC or any special hardwares but with CPU only. This gives the power back to PEOPLE not big companies.

A small group of speculators and con artists hold as much quark as will be mined in the next 247 years.  How do you not see the glaringly obvious coincidence that Bill Still and Max Keiser all of a sudden decided QRK was the second coming of Christ the split second after those first 247 million were mined?

Your grandma will not mine any quark on her laptop, because there is comparatively none left to mine.  On top of that, it is a CPU coin, so it is only giving power to the people if you count the fact that people who don't even know what QRK is will be mining it for botnets.

Now I say all this with admittedly a sense of sour grapes, of course I wish I hadn't been so short-sighted and grabbed up a million QRK for peanuts (so I can dump it now), but I don't see how anyone who has 2 neurons to rub together and has been involved in crypto for more than a week can't see the scam staring them in the face.

LOL with all the coins left to mine there is a LOT of power back to the people 
This coin is a joke. Jokecoin. 
Watch out for the big dump! 

All this said by a shill account with 8 post lol and confirmed by a sock puppet.

Quark wasnt premined in the sense novacoin was premined. But lets be real here.

When most of the coins are mined in the first 6 months in such a way that it will take another 250 years just to match that number.. We arnt being honest or giving anyone other then the early adopters a fair chance. So there was a 6 month adoption window and now we get to sell our qrk to the ignorant public at the all time high. I'm not complaining because I made a fortune from QRK but if it quacks like a duck.....

not to mention, Quark is also supported on my site! http://www.cryptogamekeys.

The fact that CoinPayments allows site owners to accept Quark is a good sign

>90 % in first day
>fair

I believe it will grow though, a lot of kaisers waiting to fill their pockets soon

And this :?
http://www.reddit.com/r/Bitcoin/comments/1s1t1s/quark_is_out_of_control

Premined?

What are you talking about ?

QRK had a fair launch…. There is no pre mine!

Please stop spreading disinformation….

All i can see and say is QUAK , QUAK QUAK!
1) Premined.
Nothing more to say.

Quark is not a new BItcoin or gold etc. Qrk only can be a curreny for daily trades. Max value is 5$ i think.

Quark is silver to bitcoin's gold!

1. Quark is 20 times faster at confirmation compared to Bitcoin
2. Quark is more secure because it has 9 rounds of hashing from 6 hashing functions, rather than a single Hash function.
3. 10 times more Quarks are available compared to bitcoins. .i.e. 247 million quarks.
4. Quarks cant be mined with ASIC or any special hardwares but with CPU only. This gives the power back to PEOPLE not big companies.

New Altcoins are being created almost everyday but this one seems to be little different.
Quark has been endorsed by Bill Still and looks like a very promising Altcoin. Mostly because , its more decentralized and fast.
Anyone tried it?
Let me know what you guys think.