Isn't this a problem with bitcoin; so we should use like quarks instead?

BanksWorstFear

full member

Activity: 168

Merit: 100

Quote from: marechoux on November 26, 2014, 04:03:19 PM

The solution is a coin wich is not mined that's all.
Mining was a good way for spreading the coin at begining cause it was diificult to give a value to something virtual but now it's something useless not ecological and making inflation there are technolologies like NXT or BTS wich provide high security with almost no mining and with transactions 10 to 100 times faster than bitcoin + with some unique features inside the wall like assets.

So NXT left quarks in the dust.

people call that bitcoin 2.0 technology???

djm34

legendary

Activity: 1400

Merit: 1050

Quote from: STT on November 26, 2014, 10:26:02 PM

POS is the best system because the majority should always reside with the people not the elite or the integrity behind a coin can be captured and diverted to private interests.

?
To get POS coin you need to buy them from some big whales...
So your coin of the people isn't PoS... nothingness won't generate coin by itself, you still need big holder of nothingness.

Sorry PoW are still the coin which everyone can get with some hardware.

STT

legendary

Activity: 4088

Merit: 1452

POS is the best system because the majority should always reside with the people not the elite or the integrity behind a coin can be captured and diverted to private interests.

Ideally many coins would help confirm each other not opposing systems as now

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

Securecoin has since day one been mined with 90+ % of the hash rate my 1 pool.
Quark was never much different.. and if profitability rises it will turn out the same.. hive mentality at work.

@Stealthcoin LOL

I would have told the guy to check the Mining sub forum but hey that will work too Wink

uyu833f

newbie

Activity: 14

Merit: 0

Where can I find some material on mining? I'm relatively new to it

JimminyCricket

newbie

Activity: 55

Merit: 0

I agree, mining needs to be decentralized and BTC mining is highly centralized. This is a MAJOR problem.

Quark is not only ASIC resistant, it has completed the initial coin production phase, and now only 1 QRK is produced per block. This means even if an ASIC were built for this coin, large mining farms wouldn't be economically feasible - mining would only be done by individuals on their personal devices.

djm34

legendary

Activity: 1400

Merit: 1050

Quote from: marechoux on November 26, 2014, 04:03:19 PM

The solution is a coin wich is not mined that's all.

well, better Grin

The solution is buying or selling fresh air... Roll Eyes

and create a market based on air, say we would buy real good buy exchange against just air...
and there is no need for miner to maintain the network, gravity does it for you...

ps: I am still amazed by so called traders and investors wanting to buy or sell nothingness as a currency.
and want to exclude those who give a tiny value to it.

solid12345

legendary

Activity: 1246

Merit: 1000

https://www.youtube.com/watch?v=anp4lD6E5NU&t=1m29s

marechoux

full member

Activity: 180

Merit: 100

The solution is a coin wich is not mined that's all.
Mining was a good way for spreading the coin at begining cause it was diificult to give a value to something virtual but now it's something useless not ecological and making inflation there are technolologies like NXT or BTS wich provide high security with almost no mining and with transactions 10 to 100 times faster than bitcoin + with some unique features inside the wall like assets.

djm34

legendary

Activity: 1400

Merit: 1050

Quote from: BanksWorstFear on November 24, 2014, 01:03:33 PM

Back in 2010 the mining was decentralized. people with just a cpu were mining bitcoin

Now its only people with big resources.

People with money, not average income people, own/control the printing presses.

Though they can't (easily) change the speed of printing; they're still doing the printing.

Alternatives like quark; at least right now make it possible for the cpu to be mining at a much higher advantage than expensive centralized operations.

Why everybody think that quark is cpu only ? (gpu can mine it, including the big chinese gpu farm you seem to fear)

BanksWorstFear

full member

Activity: 168

Merit: 100

Quote from: odolvlobo on November 24, 2014, 03:13:59 PM

CPU mining is not a solution.

There is nothing that would stop people from building warehouses full of CPUs for mining.
There is nothing that prevents ASIC miners for quark. If quark ever becomes valuable enough, there will be ASIC miners.

Besides, it is a myth that only people with a lot of money can mine. You can buy a 453 GH/s miner for $200 right now.

well the difference is I/normal people don't need experience to have a general computer with CPU to mine

well its harder to mine; wouldn't it be harder to create custom mining hardware as well?

Litecoin ASIC's are not the magnitude faster than GPU's compared to bitcoin asic's vs GPU's

Nothing is black and white but always about the DEGREE of which something is different

cellard

legendary

Activity: 1372

Merit: 1252

So let's say everyone switches to Quark and it becomes the #1 crypto, this would mean:

1) All mining power starts migrating there
2) Eventually useless to mine unless you have a lot of money

Same problem. For now you see it as a solution because Quark is not #1 crypto, if it was the mining would be monopolized by an elite too.

odolvlobo

legendary

Activity: 4466

Merit: 3391

CPU mining is not a solution.

There is nothing that would stop people from building warehouses full of CPUs for mining.
There is nothing that prevents ASIC miners for quark. If quark ever becomes valuable enough, there will be ASIC miners.

Besides, it is a myth that only people with a lot of money can mine. You can buy a 453 GH/s miner for $200 right now.

BanksWorstFear

full member

Activity: 168

Merit: 100

Back in 2010 the mining was decentralized. people with just a cpu were mining bitcoin

Now its only people with big resources.

People with money, not average income people, own/control the printing presses.

Though they can't (easily) change the speed of printing; they're still doing the printing.

Alternatives like quark; at least right now make it possible for the cpu to be mining at a much higher advantage than expensive centralized operations.

Isn't it preferable for the people to control the mining Aren't we at risk? What if China just tookover 70% mining, decided which transaction were published and what changes to bitcoin they wanted

Topic: Isn't this a problem with bitcoin; so we should use like quarks instead? (Read 1233 times)