Topic: First annual crypto-currency awards! Featuring host 'Baroness' Yurizhai Krayt~! (Read 4784 times)

Just found this gem in the forum.  What the actual hell

Hahaha this is awesome. Great read.

 

+10


Great read!

lol Quark is better ditrsibuted than PPC, 64% of PPC is in top 100 wallets, while Quark has 59% only after 5 months. Nice FUD op

ASICs would find it slightly more difficult for multiple algorithms, but it's not about how hard it is, it's about how much more powerful an ASIC will be. GPU mining is difficult for some of these algorithms, so the network won't be as protected from 51% attacks by the GPUs.

My mistake, I was looking at the top day volume.

You can't determine how much money to richest people have by looking at the top wallets. You can own more than one wallet


Ultimately I believe there has to be a purpose for a coins existence, some advantage over all the other coins that exist. Right now it is just used for speculation. The reason Bitcoin has a high price is because people see value in it as a currency, people are right now buying millions of dollars of goods and services with it, and in the future they will buy even more. What advantage as a currency does Quark have? I don't see any, which is why I believe the reason it has a high price is because speculators are betting on other speculators buying it.

This was a fun read, looking forward to next year's awards

you forgot datacoin OP on the most inovative

You forgot about Kimcoin! The coin to rule them all!!

https://bitcointalksearch.org/topic/annkmc-kimcoin-north-korea-coin-for-the-world-to-use-299906

With regard the algos, i'm not sure what you say is correct. The guy who was working on the GPU miner said that he could get it efficient on some of the algos but not all. I'm not sure why it would be easier for it to go straight to asic over a single algo?  why will asics find it any easier to hash multiple algos over single ones? i see what you mean that if asics came out and there were no gpu mining then it would be easier for a 51% attack, but i don't see how jumping gpu altogether is going to happen.

The other things i am certain you must be wrong on are this

"Looking at cryptsy, it has had a volume of 2 million in the time it has existed."

 where are you getting this from?  i have seen dumps of 500k or more in one trade and 200k dumps multiple times, this is all in one day?  . Some on this forum bought 600,000  on ebay for £400. Most orders that are going through all day every day are for multiple 1000's. It can not be true the total volume is 2 million traded ever. Someone said they did 4million dollars volume in one day on QRK, that is 16million QRK in a day. Where are you reading this?  

I do not believe the dev mined hardly any coins, i am deadly serious about that. The dev himself almost said nothing and was very quite on the forum for months this is the opposite to what devs do when they have a big share of coins. Also i know some very powerful miners jumped on, there were people hiring amazon instances, vps nodes. The dev would have had to have had super cpu hash to get many of the coins. I know of one huge QRK miner that had sold out way too early because he did start saying negative things as the price rocketed and became more and more negative as the price got higher. Previously he had liked QRK.

Anyway i know you have chosen to believe QRK is in the hands of a few. However the top 100 wallets show it is as distributed or as near distributed as PPC LTC and NMC. I have sat there glued to cryptsy for days on end and orders for 1000's are happening every few seconds. It is impossible that 2M volume is the total. I would think that would be per day and much more. Some say the big wallet owners have spread it to different wallets but again you could say this about any coin, also go on cryptsy next time the price rockets up or dives you will see huge buying and dumping, i mean massive orders. The 500k QRK at 11000 or 1000 looked like a fake wall, but it actually got eaten up. He lost a fortune there, it has more than doubled since then.

Like you say, let's wait and see. I actually have more vested interest in seeing various other coins rise since i have followed the coins with the biggest communities thinking they would rise most quickly. Strange though that has not happened with some. I would have bet DGC and CGB would have rocketed beyond the rest of the market MEC has done to and extent and WDC shocked me after sinking for months the rocketed back. I am not saying they will have big rises, but really the certainly should do. These coins were the darlings of this board for months, and have good devs. Their rise is long over due in my opinion. Of course feel free to pick your own best new opportunities, i am just speculating like everyone else.

Nobody really knows which of the currencies will be the big opportunities here. I actually think if the exchanges do not take on every new clone that pops up then every single coin will see dramatic price increases just through supply and demand. People want to build a nice portfolio of crypto so that's the demand. Most coins have a reduced block reward even if not as sharp as QRK so supply will taper off.

Multiple hashing algorithms only delays the ASICs. Bitcoin was fortunate enough to have their first ASIC creators distribute the hardware rather than attempt a 51% attack. Quark being unable to mine on GPU (if I understand correctly) makes them even more vulnerable to the jump from CPU to ASICs. Along with that, if the last-used hashing algorithm has a vulnerability, the mining will be ruined. Even if neither of those problems occur, multiple hashing algorithms is at most equivalent to sha256, not superior.


Looking at cryptsy, it has had a volume of 2 million in the time it has existed. This is the equivalent of the first 1000 blocks (1000 blocks were mined in the first 2 hours of mining).

In my opinion, having rewards halve in 3 weeks is a bad thing. I don't think a currency can succeed if a small handful of individuals control 90% of the currency. This is a problem with Bitcoin, especially Satoshi, but not to the same extent.

I believe the founder knew what he was doing when he made rewards halve in 3 weeks. He knew he would get a large chunk of that


It's really comes down to whether it serves any purpose other than speculation. When Apple issued stock it was so they could spend investors money on growing them company so they could pay them a dividend.

Madoff was only a counterexample to your claim that if the market says it's expensive, then it's a good idea. Quark has clearly been pumped, I may be wrong about the dump part, but many people got in early and are advertising it, making subreddits, forum posts, etc.

Sounds good.

Look, you seem reasonable enough. Let me just go over what our differences are.


QRKS design -

 i like the multi algo - i don't see why you are saying it makes the coin less secure.  I see it as an advantage because 1 it stops asic miners from sha256 and any new scrypt asics for now, 2 it is different from just sha256 so that if sha256 turned out to be less secure that we thought, the other algos are still there.  In the future there could be more advantages .

You don't like it and say it is less secure. You also say there is no possible advantage to having multi algo in the future.


QRKS distribution

I agree, the fast tumbling block rewards and low diff made it an instamine heaven. However this actually did not really matter now because if you look, the first few days it hit the exchange a LOT of it was dumped, it continued to be dumped for months, much more than people bought it. The price drove down and down until it was too expensive to even mine it for the price it was fetching 37-200 for ages.

Next came the price rocket, the market started picking up and mass buying started to happen. A lot of distribution on the way up. I know lots of miners and previous buyers cashed out on the way up and then even rebuying again as if it looked like it would never stop. Lots of redistribution.  Then fear, has it risen to far too fast...boom smack down 30000 down to 10000  huge dumps i mean 500k dumps at a time even down at 11000.. WHY?  fear is it going back to 200??  whales dumping again mass distribution. This kind of fear only happens with rocket up and smack downs. Coins that rise slowly do not inspire fear buying and fear selling in such massive dumps. Miners or early buyers do not dump with nice gradual gains hence the distribution is less. Qrk is already as well distributed as coins much older.



You do not believe this and stick to the theory that mining is number 1 in distribution and that QRK is a scam because it was instamined. You prefer more gradual mining tapering more slowly.

Really there is not yet enough evidence to say whether that is better or not. I mean consider this... how many people have mining rigs or high end cpu they will leave burning day and night in their home?

Not that many really, however how many investors are there looking for opportunity = lot. I say the market distributes coins more widely and more fairly than mining does.

Instamining is not really a scam in the true sense. If you are there at the launch you can instamine with everyone else. Like not hearing about the release of apple shares or being there for any opportunity that is time governed right.

However yes, i agree in the past i have been screaming and shouting about missing instamining opportunities. I hated digi because although not instamined as such that coin and wdc and all other fast coins favour low latency big miners and even if you are there at launch you cant get any coins, just orphans and rejects.  They are not really instamined anyway in the true sense of the word.

Now the bit i think people mostly miss. Instamining in the past has resulted in MASS DUMPING on exchanges on the 1st few days, i mean the golden rule for anyone who has been around for a while is NEVER buy at the start. Because miners will dump but the buyers who are eager to buy fade out after the first day and the price slumps huge and never really picks up again. I mean follow the graphs back on all coins.  Miners knew i need to dump my instamined coins early or they go to being worth nothing.  SO that is what we all tried to do and then if you missed that period of selling you just left the coins there on the market for what you could get for them.  Over the months you would end up selling but didn't get that much for them.

That is the distribution right there.  The jealousy at the instaminers is misplaced, if they managed to get rid of their loads at the start they made a good chunk. If not they got something back for their effort and electricity but nothing like you think.  Most of the instaminers never knew QRK would ever again even reach day 1 prices on the exchange. The people who got the best deal here with QRK and all other of the last wave of coins were the people that bought cheap for the market price.  This is simply the case.  Sure a few miners probably held on to a load. MY method is always keep 30% sell the rest on day 1 of the exchange or as near to that as possible. I even accused exchanges of only letting certain people know when they were taking a coin on. I have always said they should have announced it in advance so everyone had a chance to load their coins on to the exchange. This i do not think will happen in future, i mean look at even doge coin, people are holding on to this like it is gold and it is working the price is going up? will it even reach exchange?? who knows.


You can not call into question the markets distribution, it is the same in all markets ...you buy for the market rate which is determined by the supply and demand. There was simply way too much QRK supply to the market people dumping it because they had a lot. There is now a lot of demand simple as that.  The demand did not come from the same people dumping it..not until some panic bought back in.


To call QRK or any coin that is not PREMINED a scam and say it is anything like madoff is simply not true, it is not even in the same league.  On exchanges you do get fake pumps, however this has gone way past a possible fake pump. This is now people asking me at the gym, what about this new coin QRK, MEC, DIGI,  since they know i was interested in BTC and LTC. These new coins are becoming known and the market will decide if they want them or not.

QRK again is not over priced, it is reaching a fair price based on minting number. Anyone saying it is a pump has not done their homework and most of them have appeared on the board after QRK was released and don't have access to it at the price it was before. The only other mass group of ppl hating on QRK are BTC purists but you will find they hate on every coin because they are inferior in their mind.

Let's revisit QRK in 1 year and see who was correct. You have your views, i have my views the market has it's view.

Gentlemen, please. Quarkcoin is an honored winner here. The best scam coin of 2013 was not given lightly. Show some respect and take the squabbling elsewhere.

>read back more than 1 post regarding why i said QRK is not inferior in anyway to the other coins you mention. What you are quoting is not the reason i have given time and time again.
That's because I explained why that comment was wrong and you responded with saying I was upset I didn't have any.

The market decided that Bernie Madoffs fund wasn't a scam for much longer than Quark has existed.


>TELL ME HOW QRK IS INFERIOR - that is my challenge to you
It has lower hashing power than Bitcoin and has no advantages. Using 6 different hashing algorithms just makes the network vulnerable to someone who makes specialized hardware.

You seem to be mistaking crying for pointing out flaws, but you seem to be so delusional about quark that you assume anyone who points out flaws in it is "crying".

>STICK TO THE FACTS - is all i ask.
I have been contradicting your points using facts. You have been speculating (with no factual evidence) and padding your comments with insults (which shows that your arguments don't hold weight on their own).

Do you really think me calling you a noob would make my argument sound stronger? It just is childish. I have never seen someone above 15 act this way.

I have given you the facts and you have responded with name calling and ad homenim. If you would like to actually understand what is wrong with Quark you should look at these:

https://en.wikipedia.org/wiki/Pump_and_dump
https://en.bitcoin.it/wiki/Litecoin#Redundancy

I am done responding until you can provide a response not based on logical fallacies and name calling that shows you have some knowledge of economics and cryptocurrencies.

LOL give it a rest noob, read back more than 1 post regarding why i said QRK is not inferior in anyway to the other coins you mention. What you are quoting is not the reason i have given time and time again.

Sorry that you feel the market must describe to you why QRK isn't inferior, it is you that must say why it is inferior to the market to make any changes to QRK - get it??  The market seems to have decided it is not at all inferior, another green day for quark in a sea or red. How long with you cry before jumping aboard? Your portfolio sinks today whilst you could have helped yourself more buy holding some QRK

Scam scam scam scam scam scam scam...please do yourself a favour and stop screaming scam for the coming years as QRK rises, you'll damage your vocal chords.

TELL ME HOW QRK IS INFERIOR - that is my challenge to you - STICK TO THE FACTS - is all i ask.  The distribution has been covered to death, so i'm not sure what you will come up with, however i wait with interest.

The dev and his buddies lol ..the entire market are his buddies it would seem ... that's a good one.


I will copy and paste this from now on so it starts to sink in...

THE ONLY PEOPLE CRYING ABOUT QRK ARE THOSE THAT HAVE NO QRK

FIRST RULE ABOUT QRK - NEVER TALK ABOUT QRK to those that don't have any.

>I just told you in baby speak why quark is not inferior to other coins, please go back and read.

Here is your comment:

>LOL just obvious to you and every other person that missed out on QRK.
This doesn't address why quark isn't inferior.

>The market does not seem to find it obvious at all.
This doesn't address why quark isn't inferior.

>The creator does not hold most of the coins, that is only the story you tell yourself and others to feel better.
The creator and his buddies do hold most of the coins, he made rewards halve every 3 weeks for a reason.


>Sorry i stick to the facts - you would not be here crying if you had some QRK simple as that. Buy some and feel better about yourself.
This post and your comment history (https://bitcointalksearch.org/user/cryptohunter-92110) prove that you are only here to pump Quark. Quark is a scamcoin, but I guess if you can make money off of it, it doesn't matter to you.

As you say - different hashing algos = Nice.

It can only be seen as an advantage.

But quark now has mass market appeal and much larger volume that the coins it has pushed past. This causes wider distribution - that is the key point. It has momentum now, it was only for sale for nothing for months because ppl didn't know about it.    QRK is fair price and will rise from here like other coins possibly faster due to the momentum it has now. The mistake people are making is looking at the market cap.  They forget QRK is already almost mined right?  so it is not expensive at all considering the minting. It was only very cheap before.

QRK does not have to be miles BETTER than other coins, it has to be as good yes and of course it is.  I consider multi algo an advantage over single algo.

Why is BTC 900 bucks??

PPC is worth  a lot more per coin that QRK even taking into consideration the full minting number?  do you realise this we are saying QRK is still in the 20cents right, hence why it is still nowhere near being over valued. PPC has a lot of critics too actually but i like POS too so i am not one of them.

If you compare the total minting of the coin to its price you will see QRK is inline or below most other coins. BTC only has 10x less coins yet is 900 dollars to 20c so you can see there qrk is still in the early stages.

I never heard one valid reason why QRK at this point is above it's fair value. Full stop.

I just told you in baby speak why quark is not inferior to other coins, please go back and read. NMC yes is actually more interesting in a way, sadly the market does not agree at this point that it is more interesting

Sorry i stick to the facts - you would not be here crying if you had some QRK simple as that.  Buy some and feel better about yourself.

Basically I want to second your thought; having coins or not having coins has to do with their perception.
But I'd like to correct the correlation: it's not necessarily like people don't have this-or-that-coin and call it scam afterwards.
It may be more like people consider something scam/not interesting first and avoid spending money for it then
I don't even consider QRK scam. I simply don't see its uniqueness or advantage over other coins. It has a round of different hashing algorithms.
Nice. But is that all?
If you want CPU only PoW you might like Primecoin, which at least have the chance to make a dual use of its PoW (that approach might fail, but it is not as intrinsically useless as hashing - regardless of the used algorithm).
And if you just want some different hashing, Litecoin is great (but that train has started some time ago...). PPC introduced PoS and I find that great!

Now you can call me QRK-hater or PPC-fanboy.

At least I can try to explain why I prefer PPC over QRK (people interested in an argument rather than bashing might find a start here: https://bitcointalksearch.org/topic/m.3945695)

To sum it up: I'm more interested in a investment than in speculation (yes, I have PPC, no, I don't have QRK).
Market adoption might not accompany the (in my opinion) superior design of PoS, but I hope it does

At the moment lots of people want to make a quick buck. I recommend treating all coins like penny stocks if you want to make a quick buck: get parts of all of them. You will not know which one is to be pumped next.
I have no time for that. I have gathered information. I have evaluated it. I have come to a conclusion. Others might come to different conclusions.
My conclusion is: Proof-of-Stake is a superior concept of securing the blockchain and hence the coins and their value. Full stop.

Haha! Awesome thread! Cant wait for the midseason awards of 2014, that'll come right?

Quark is a Scam-coin, mainly because massive premine. Then the arguement OHYOURMADBECAUSEYOUDIDN'TGETINONITEARLY!!! It didn't publicly exist for anyone to get in on who wasn't part of the secret circle.