Topic: [POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦ - page 230. (Read 920203 times)

In case people here missed it (I've not shared it here as I am only really a lurker in these parts), I did a 50 minute interview with PotCoin developer Smokemon514 after 4/20 to recap some of what went down in Denver: https://www.youtube.com/watch?v=5mpVNzbSqoM

People need to stop with the childish understanding of crypto, talking about changing block sizes and changing algo. What do you guys think happened to bitcoin when ASICs started coming around? The same thing. There were TONS of pools even a year ago, not as many now. You have to let the evolution take place. The chain will continue, it just may not favor a small pool per-se. Bitcoin forked several times, and look where it's at now.

ASIC = security. You shouldn't question this either because you're seeing the results of a coin which currently ISN'T supported by ASIC right now. If you want your coin to be taken seriously, you leave the architecture where it's at and simply let the chain mature.

No algo is ASIC proof, it may only be resistant for a period of time. I can tell you that there are 2 major companies developing multi-algo ASIC. What are you going to do when all the algo's are ASIC? Drop this type of talk. Keep it scrypt, keep the rewards where they're at, and have your pool operators do something to attract more attention.

I could point you to 5..10...20 coins which all changed algo and reward because of this fear. They're dead now. If anything needs tweaking, it would be the difficulty algo. Adjust KGW to not allow serial blocks far under coin spec, or maybe look into darkwave algo?

If your coin has a tangible real-world use, nothing will stop its movement, its use or prevent its value from rising.

Until potcoin is a common household name, you won't see this level of adoption, so you need to strap in for the long haul. Also, there needs to be more info on how the 4/20 stuff went down. Everyone was looking to this for months.. and now silence. Not cool at all.

also im gonna keep asking because it was so pumped up! WHAT happened over 4/20??? atleast a "we have news, sit tight" would be nice! Iv read more about potcoin 4/20 on the dope thread than here.

well said sir well said! I too collect dog shit in little baggies! glad i'm not alone

In order for a coin to get used, it has to be available to the masses. With 6 BILLION+ people in the world, at bitcoins 21 million coins, it already creates scarcity. That can be said for any coin if the real plan for the end game is world wide adoption. The figures on a lot of these coins are pretty low, although there are a few that try to sort this out. They usually liquidate the market and the coins become worth nothing because everyone day trades everything into oblivion. The problem isn't asics, or dumping, it is that these coins are all WORTHLESS. If people pulled their heads from their asses and stopped to think, actually think about what gives money value, it isn't all prospecting and dreams. It is utility. Money is just a tool. Money is only valuable because you can exchange it for goods and services. To quote lamb of god, money is the excrement of labor. It is a byproduct of the shit we do. Now if someone spends 10k dollars on a rig to mine coins, in my mind, that adds some value to the coins. How ever many coins he mines with that rig is more or less equivalent to the 10k he spent on it. That is iff, others are willing to buy the coins and see utility in them.

Just because i love dog shit and collect baggies of it because i think it is beautiful, doesn't mean i am going to convince many others dog shit is beautiful and it would help them in their lives. That is how i feel about most of these coins, baggies of dog shit. I roll with potcoin because at least they have some plans and ideas and seem to be actualizing upon them.

Tons of coins have ideas and can tell you where they plan to be. How many are actually doing things to get there? Out of all the coins that are out there?

Isn't KGW working as intended? The network gets hit with huge hash and the well increases difficulty to counter the hash and maintain the same flow of coins. Then when it leaves it takes a while to find the next block, and after that is found the difficulty should jump down. Which seems to be what happened?

Bottom line, all the people crying about asics are the people who dreamed of getting rich off this shit. Now they are slowly losing grip on what seemed right within grasp. Never really was, but they are dreamers. They are the ones who haven't made enough money yet to buy the ascis and are upset they missed the train. The more money that gets dumped into the crypto game, the more than value of all the coins rise. It is simple. The weak coins get chewed up and destroyed, only the strong survive. This is the fun of investing, it is like gambling in which you expect to win. Gambling all the same. Risk and reward. Tough titties, people must not have heard that expression much before getting wrapped up in this crap. Life is never fair, and it isn't easy.

If asics are a death sentence, wtf is btc still doing around? Or any sha coin for that matter.. 

You really don't get it. There are still a lot more GPUs mining than asics. And as more asics hit the market they are just replacing the GPU miners. Nobody is going out and buying GPUs to mine anymore. It happened a year ago with Bitcoin...or were you not paying attention?

ASICs did wonders for the bitcoin network. It silenced everybody who thought ASICs were bad. The only people still screaming about them are the fools who think they are somehow entitled to make a bunch of money because they have a few GPUs running in their basement.

ASICs are coming. Get over it.

I'm on a multipool that has hit POT in the last hour, hashco.ws. I'm new to multipools but want to try it out for a while. This pool has the option of keeping the coins that are hit at least, but yes, it's only going to get worse for coins that stick with scrypt.