Topic: Ixcoin TODO - page 298. (Read 631747 times)

Trojans? That makes no sense, unless you are downloading from a 3rd party website.

Can someone confirm the new wallet QT has been ungraded and what is new about it?

I'm reluctant to download any new wallets due to possible Trojans.  It would be nice if ixCoin got the same code update as i0Coin. 

Those are great ideas if you have millions of dollars and plan to take over the planet.  Lol

But I agree, that's why I said scrypt coins will be the hardest hit by a Bitcoin ETF.  I do hold some Scrypt coins but mostly as trades.  I fought to not launch a scrypt coin but 95% of the people insisted on scrypt.  Now I see it was a mistake.

That's another plus coins like ixCoin and devcoin have over many coins, they're sha256 and also merge mined.  

Well if you are looking for coins an ETF type thing might like, forget scrypt until/unless ASICs are built for it. A startup wanting to do a real IPO or ETF or whatever based on scrypt would presumably be best served by first creating scrypt ASICs. Maybe to keep to itself even, but if that were the case then maybe implement itself as 5 or more seemingly completely separate companies so it won't seem like just one company/entity has all the ASICs. (Maybe make one manufacturer company and five "customer companies" who "buy" semi-exclusive access (exclusive to only five companies) to buying the ASICs once they are manufactured, or something.)

Without ASICs, all the scrypt blockchains are toys, sandcastles any "big bully" can kick over any time...

-MarkM-

Lol,  thank you for your candor.  

I may seem like an idiot to you because I post things that appear wild, manic and untenable.  But I assure you, if you knew me, you may be a bit startled at how accurate I am regarding geo-political and economic events.

As for my postings regarding my personal views on society and religion, we all have our views, I'm simply open, honest and opinionated.

For that reason I may appear manic but mania is void of convictions, rationale and logic and these things I hold dear, so if you want to tag me with a name I think fanatic is more proper than manic.

That said, my enthusiasm is well grounded.  I joke not about my education and experience.  BITCOIN will change the face of the world, if you know what's coming you stand to make millions of dollars:  what's not to be enthusiastic about?

I have learned to check my work and to make corrections in cases where I am wrong.   As such, I sometimes look at my own theories and feel like I am going mad for the sheer fact that I am seemingly all alone seeing these things.  But then I go over the data, facts and premises and I keep reaching the same conclusions so then my convictions only deepen and because I am honest with myself, I refuse to lie and pretend I'm not seeing these things and I refuse to keep my conclusions to myself, even though I realize I'll be seen as a manic idiot.  

I refuse to allow fear to dictate my attitude or behavior.

I am aware of what I look like and I am aware that my predictions are in the very near future: 3-24 months so in no time I stand to look like the biggest idiot on this forum.

I don't make these public statements unaware or recklessly, I risk looking foolish and stupid for the sake of trying to help others as I feel virtually nobody sees what's going on and many will miss the real opportunities while many more will lose most or all their money, if I'm right.

And there is nothing idiotic nor manic about the willful, premeditated self sacrifice of one's own reputation and character, for the sake of helping others.

What is new about it? Is it based on the new I0Coin code that reduces the RAM guzzling merged mined coins experience?

Basically what is changed that would make us want to adopt this new version?

-MarkM-

Latest client and source should be at http://ixcoin.org/

I like you, but you are an idiot. An idiot with a charming enthusiasm but very poor posting discipline.

At least you do seem to want to learn and maybe even try to but your enthusiasms often seem to get in your way in that.

Enthusiasm is great and all but there is a related word "manic"; one is well advised to question one's own enthusiasms lest  too much "manic" lead one astray.

-MarkM-

Without actual commerce in ixcoin there won't be much in the way of fees so it's unlikely that the current large miners will continue mining.  Enthusiasts will likely still mine so the coin will probably continue. One of the reasons for ixcoin, if I recall correctly, was to see what would happen when a coin stops having a subsidy to get an idea of what will happen with bitcoin.

And you're a real hard ass, man.  What is it with you?  Always so negative.  I actually like you cause you're a realist, but you really dislike me and for no good reason.

You're obviously a libertarian and a hardcore agnostic, I'm very certain about this, but just because we clash on that front doesn't mean you have to be so bleak and a downright a-hole about anything I say.

Like I told you before, in general, you'll be much more effective if you learn to communicate in a less biased way.

Like MarkM, I feel he doesn't particularly like me, which I understand, but he remains objective and communicates well.  

Oh so if I'm wrong about one single thing then nothing I say matters?

I'll show you Harvard PhD economists who are wrong a lot and they're still the best.

At least I'm making my convictions public, and they're bold and way out there, there are others on here, some economists, that are too scared to make any predictions, let alone such outrageous, world changing ones.

And my all alt coins will sky rocket theory was still based on the ETF license, and I based it on factual data.  Problem is that all of this is uncharted territory, nobody, not even the Harvard PhD's know what's going to happen.  In fact, they're saying Bitcoin will never get the ETF and it will be killed by legislation.  

I say there's ZERO chance of that.

My theory of all coins going up was based on the little empirical data I could find.   Last April when Bitcoin shot up it took alt coins up with it, most of them, and a few, like Namecoin and LTC, went up logarithmically, much higher than Bitcoin.

So I wasn't talking out of my ass.  But now, seeing how alt coins behaved, en masse, with the recent rise of Bitcoin, I had to make that one adjustment.  The rest of my theory is intact, I simply believe that most alt coins will get crushed by Bitcoin, if it goes to $1,000 in the next 6-12 months.

Reality is that it could go the other way but I don't think so.  And my conclusion that you'll be able to make much more off an alt coin than off Bitcoin is still the same, it's just gonna be harder to find that alt coin than I originally speculated.

If you wanna make good money - hold Bitcoin and you'll make 1,000% in under 2 years and quite possibly more.  If you wanna become a millionaire, find the alt coin which will shoot up over 10,000% and quite possibly 50,000% - 100,000%.

I already put my money where my mouth is.

Try reading before responding.   I say there is no chance of a IxCoin ETF and you try to wow me with your brilliance on how Bitcoin will have an ETF.   At one time you also believed any and all alt-coins would explode in value when Bitcoin went up.  How did that work out.

I'm glad you went on record.  You probably meant 2013.

How do you feel about a BITCOIN ETF in 2014?  

I'm 75% sure we'll get a BITCOIN ETF in 2013 and if not then I'm at least 95% sure it will happen in early 2014.

I simply cannot imagine any Govt not wanting to fully support and actually even fund a digital currency like BITCOIN.  And the ETF license is a huge step for them to do just that.

And if I'm right about the BITCOIN ETF then my next strong conviction will be a country switching to BITCOIN and my top picks are India and Argentina which should happen within 18-24 months after the ETF so late 2014 or at the latest 2015.

All of these predictions I feel very strong about but they are mine own, I don't see any experts supporting these theories and on the contrary, the experts think just the ETF license is a complete joke and will never happen.  I've seen videos on CNBC and other financial channels where these experts literally laugh outloud at the very idea of a BITCOIN ETF.  

What makes me laugh is that these are the same mental midgets who laughed off Internet stock funds in 1994 and we all know the billions made over the ensuing 6 year frenzy.  This BITCOIN thing should be bigger and more profitable if you're in the right coin(s).

There is a zero chance of that happening, about as much chance as a Bitcoin ETF in 2009.

Well, that's really bad news.  I see no reason anyone would mine ixCoin in 2015.  So then I'm stuck hoping an ETF 2.0 will become a reality and it will include ixCoin, either in a basket of alt coins or by itself.

~0

There is no block explorer so I don't care enough to look backwards manually but the last 100 blocks combined had less than 1 IXC in fees.  So 1% of that would be 0.01 IXC.  Then again that is the point.  Nobody cares.  Nobody is building servies, nobody is building products, nobody is building tools. 

For example with Bitcoin anyone can lookup tx fees by just going to a url:
http://blockchain.info/charts/transaction-fees-usd?showDataPoints=false×pan=&show_header=true&daysAverageString=7&scale=1&address=

So do you think people would keep mining ixCoin just for some paltry fees?  That's the biggest risk in my mind, people could just lose interest and totally forget about ixCoin as soon as there's no more coins to mine.

Is it possible for ixCoin to do a hard fork and say, add just a few hundred coins per month forever as a kind of inflation thing?  Something to keep people mining.

I think one of the block explorers or blockchain info sites, maybe most/all of them, can show you how much in transaction fees a block had, maybe even a whole table showing many blocks on one page summarising how much fees they included if you are lucky or if anyone previously imagine such a table might be useful in some way.

You could look at various coins' explorers, to get a feel for how much they get in fees compared to how "big" or "major" a coin you think it to be.

You could maybe compare number of transactions per block to fees per block, stuff like that.

-MarkM-

Ok, so what exactly how much would the reward be for 1%?  I'm trying to see if people will even have the incentive to mine ixCoin in 2015.

Yeah, hard to get more conservative than to assume fees will be zero.

Ixcoin is not a Proof of Stake coin. People don't get paid for having lots of coins.

Also like darn near all altcoins the transaction fees paid to miners - when any are actually paid at all - are not based on how many units of measure of the coin are transacted. I am trying to use words carefully here because there is a usage of the word "coin" in which what one means by "a coin" is, under the hood, an output from a transaction. The more such things you use to put together the amount of value you want to send as one transaction, the more bytes it takes to represent and store that transaction, and that can affect fees, it can actually cause mandatory fees, ones that are not optional.

Maybe lets use the terms "coins" and "Ixcoins" as meaning different things. The "number" of Ixcoins you want to send someone is the normal how much money of that type is it kind of number, the number your balance of account is measured in.

In your wallet each transaction sent to you is distinct, some people refer to those as "coins". So if I sent you three transactions, one of 1 IXC, one of 5 IXC, and one of 9 IXC, those people would say you have three "coins" in your wallet, one is a 1IXC "coin", one is a 5 IXC "coin", one is a 9 IXC "coin".

It you wanted to send someone 14.5 IXC, under the hood all three of those "coins" would be combined into a transaction, with one output of 14.5 IXC to the address you want to send to, and one transaction of 0.5 IXC change back to your own wallet. There is no deterministic way for a miner to know whether the 14.5 is change going back to you and the 0.5 is the amount you are transacting with someone (or with another of your own addresses). So trying to charge fees based on "how much Ixcoin" was transacted is doomed by design. No one would stand for having to pay a percentage fee on the change just to get to keep their own change when they buy something!

Combining three "coins" like that maybe might not take more than 1000 bytes so maybe it might not incur a mandatory fee.

But suppose you liked to gamble on satoshi dice and/or run around to lots of faucets picking up tiny fractions of a coin. When you wanted to send someone, say, a quarter of an Ixcoin as a tip or something, it might take 25 or more of the extremely low "denomination" coins in your wallet to add up to a whole 0.25. If you look at the bitcoin tip you sent me, for example, on blockchain.info, you will see my tip address has only received one transaction ever, but wow the number of little portions of a coin in that one transaction is quite a few! Quite likely such a transaction would have incurred a mandatory fee, especially if some of those tiny fractions of a coin had only relatively recently arrived in your wallet. (We don't want spammers to be able to send millions of millionths of a coin to themselvesround and round in circles to clog up the blockchain, so we prefer coins to have sat a while, and use fees to strongly hint to people how much we'd like them to sit how long. )

Thanks for the tip, by the way.

-MarkM-