Topic: Experiment with 5 altcoins (BCN, DRK, FLT, KMC, MINT) - page 3. (Read 3411 times)

I have a view for similar coins (NXT, BC etc). Pure POS (only-POS) looks like a deposit in a bank. It's not profitable to spend coins, and people just keep them up. Coin gain price when you became able to buy something real on it. So BC is just a vault deposit but isn't currency imo.
Also BC pools as this blackcoinpool.com confirm my opinion.

Thanks. Never encountered PoS coins - going to look it up now.

Nice choice in the coins, good luck with your experiment, will follow this thread.

I think that currency that is available for ASIC mining is not a "currency of the future". Of course equality among all miners is a dream and always there will be someone who mine much faster and much more effective then others but "he/she" will have to put A LOT of funds in there.

Also merged mining with bitcoin is not a bonus to my opinion. Being someones dependant is not a good thing at all.

This two factors are just too much for me to deal with - that's why Devcoin is not my choice

Devcoin already meets most of these aims.

1. It is merge mined with bitcoin, and thus can and indeed is mined with ASICs (via pools like ghash.io)
2. The merge mining protects against 51% attack - though an attack against bitcoin will take out devcoin and other merge mined coins - but this is unlikely.
3. Same pseudonymous protection as bitcoin - unless you know someone's address it's difficult to work out their identity
4. Very decentralized - the coins are widely held. Devcoin has been going since 2011, and lots of people accrued them over the last two and a half years
5. The one drawback - needs a new wallet, but the devs are working on it
6. Meets this criteria, some of the best devs in cryptoworld do work on this coin
7. Meets the philosophy criteria too - the coin was designed to support developers and others through bounties and is doing this successfully.

Other benefits - the transaction fee is very low in dollar terms, and while this coin isn't as inflationary like dogecoin, it isn't deflationary either, and is thus suited to micro transactions and a spending economy. Some 24 stores already accept it - you can buy a walmart voucher with devcoin, which is more than you can say about most cryptos.

Finally, longevity. This coin is older than litecoin and has stood the test of time. The devs and community arn't going to walk away.

with your analogy then your comment is typical of someone wants to sell the coin , higher


simple calculation really. look at other coins in same level that are older and their price is more stable. look at their coin mined per day volume. look at the coin you are interested. look at its price now per coin. it wont add up.

coins always rise up a bit in price once they hit an exchange. Once everyone that bought out of fear of missing out buy volume is done, there will be no more buying volume to sustain the coin release per day. eventually the selling will overwhelm the buy in price and it will drop down.

basic math really. the only one asking/prompting you to buy now is either instaminer who own lots of coins for dirt cheap or the ones that bought now and want the price to go higher.

hate it or love it, its the way of the free trade. You can stop the hypes or the FUD. but you can educate yourself to understand what a price of each coin is worth.

IMO, I think Darkcoin has a few 'natural enemies' that account for quite a bit of the trolling.

1) Supporters (holders) of any other anonymity/privacy focused coin. Obviously it's in their best interest to knock DRK down as much as possible.

2) People who believe that true anonymity is bad for crypto-currency as a whole, or believe DRK will be only be popular in the black market and bring bad press to all cryptos. This was a debate in Bitcoin for years with support on both sides.

Regardless of what you think of Darkcoin itself, it's pretty easy to see that Evan is one of the best developers out there when his features keep finding their way into other coins.  Anonymity is huge and as it gets closer the trolling seems to be ramping up...

Thanks for the info! But I'll not change my choice. I will write about MINT tomorrow.

Day 1. Welcome! (part I)

Why did I choose these alternative cryptocurrencies?

https://i.imgur.com/Z5uo34z.png

Bytecoin (BCN) – not Bitcoin/Litecoin/”other”coin fork. BCN uses an algorithm “CryptoNight” and Cryptonote technology. There are untraceability and unlinkability of transactions, data/privacy protection and full anonymity. Adam Back approves to Cryptonote’s authentity.

It is declared that Cryptonote (and Bytecoin) has a blockchain analysis resistance. You can take part in verification in a special thread. I’m not a cryptographer but it rings true.

Total 184.46 bln BCN - and part of BCN was already mined by a community during 2 years. It’s the most closed and strange community which is based in TOR / deep web. Its devs are unknown and nobody has talked with them. It's interesting how they will decide problems with tech support? But Cryptonote devs communicate in their forum and seem to be high-level specialists.

Features: full anonymity, only CPU-mining, not off-exchange, detailed philosophy and a very interesting story with the community (Cicada’s and puzzle’s talks).

http://www.darkcoin.io/img/darkcoin_header.png

Darkcoin (DRK) – fork of Quark. DRK uses an algorithm x11 (11 rounds of scientific hashing functions) and Dark Gravity Wave.

It’s GPU-mineable with sph-sgminer. And I have a question about algorithm x11 and if it is ASIC-resistant. Darkcoin devs write in off-thread: “high end CPUs give an average return similar to that of GPUs, and GPUs run at about 30% less wattage than Scrypt and 30-50% cooler”. So is it ASIC-resistant or not?

Total 22 mln DRK and 0% was premined. Darkcoin started in January but community is very strong and popular (about 700 p. in off-thread!). On the other side DRK is attacked with black-PR and trolls, thread with anti-DRK messages in top forum daily. I need to understand which of them are true.

Features: full anonymity, a lot of exchanges, publicity, popularity and strong community.

http://oi61.tinypic.com/2nc4311.jpg

Fluttercoin (FLT) – fork of Litecoin “for anyone”. FLT uses innovation technology for proof-of-transaction (called butterfly-effect). Every transaction creates more opportunity for such chaos and data-protection. Also there are POS and POW. Not ASIC-resistant.

Total 5 bln FLT max. Now FLT was mined just n-hundred thousands. The devs have a very active marketing and are mentioned regular in thematic resources. And I think that the devs are from Russia (they use English and Russian only).

Features: anonymity, a lot of exchanges, active marketing and devs, apps to Windows, Linux and MAC, native wallet, strong community (or very active marketing).

TBC

great idea

wondering how you came to this conclusion?

I think your comment is typical of someone wants to buy the coin, cheaper.

Interesting. What do you think about BlackCoin?

No hack. The Pow phase is over. It´s a Pos coin now.

Quite nice idea you got there my friend. Going to follow your topic and let the best man coin win

Why is that? Was it hacked? Couldn't find any info.

mintcoin can not mine more

Interesting topic. keeping a eye

heads up on darkcoin.. it was instantmined (nothing wrong with this). therefore the price has not crashed once yet. its over priced. too many coins to be at the price now. Mine it if you can. but i would advise not to buy in yet. the price needs to crash and adjust once or twice before it shows the true value ; )

I discussed about a future of cryptocurrencies in this thread (My view on the future of Crypto Currencies), and mgburks77 give the link to interesting thread also (Bitcoin adoption slowing; Coinbase + Bitpay is enough to make Bitcoin a fiat).

Clear that cryptocurrencies 2.0 must have a several options:
1.   Resistance of GPU- and ASIC-mining. Not a “clean” fork.
2.   Resistance of the threat 51%.
3.   Privacy and data protection – it’s named “truly anonymity” in community. Sender’s and receiver’s data should be encrypted maximum.
4.   Decentralization. Low concentration of funds in large exchange. Not speculative.
5.   Apps to better part platforms (Windows, Linux, MAC and mobile of course). Native wallet.
6.   Strong devs (with background). Tech. support.
7.   And philosophy! It should not be speculative cryptocurrency, devs must want to change an economic and this world.

Most of this options are declared in some cryptocurrencies.
I decided to conduct an experiment. I chose the 5 cryptocoins and I will follow them during the month. I will install wallets, mine and trade them and see on changes (devs, community, courses, rumors etc).
I will be glad to get advises and comments!

So my choices is (alphabetical):
1.   Bytecoin (BCN) – https://bitcointalksearch.org/topic/bcn-bytecoin-secure-private-untraceable-since-2012-512747
2.   Darkcoin (DRK) – https://bitcointalksearch.org/topic/anndash-dash-dashorg-first-self-funding-self-governing-crypto-currency-421615
3.   Fluttercoin (FLT) – https://bitcointalksearch.org/topic/ann-fluttercoin-flt-proof-of-transaction-cash-back-for-sending-recieving-509499
4.   Kimocoin (KMC) – https://bitcointalksearch.org/topic/annscryptadaptive-kmc-kimocoin-kimotocoin-5-exchanges-524216
5.   Mintcoin (MINT) – https://bitcointalksearch.org/topic/ann-mint-mintcoin-pos-5-no-ico-fair-distro-community-maintained-450381

I will start tomorrow. Stay tuned!