[POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦ - page 256.

Chronikka

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Activity: 658

Merit: 504

Quote from: flipme on March 25, 2014, 01:15:48 PM

Oh, now its the argument of safety for the blockchain.
Sounds like the usual fear mongering. Suddenly the blockchains are in danger, without ASICs.
Altcoins were just fine without ASICs. Bitcoin would be much better off without them.

Why should I throw my money at a bunch of elite wankers trying to take another business over, if it's avoidable?

The same reason you threw your money at a gpu.

A gridseed unit costs $160 and hashes at 350 kh/s w/ power use: 7 Watts
An R9 270 GPU costs $200 and hashes at 450 kh/s w/ power use: 150 watts

You decide.

Viceroy

hero member

Activity: 924

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You shouldn't. You should bale on all sha and scrypt coins (except perhaps bitcoin itself)

flipme

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Activity: 2170

Merit: 640

Undeads.com - P2E Runner Game

Oh, now its the argument of safety for the blockchain.
Sounds like the usual fear mongering. Suddenly the blockchains are in danger, without ASICs.
Altcoins were just fine without ASICs. Bitcoin would be much better off without them.

Why should I throw my money at a bunch of elite wankers trying to take another business over, if it's avoidable?

Viceroy

hero member

Activity: 924

Merit: 501

Quote from: AdamT on March 25, 2014, 11:40:34 AM

Quote from: Kreativekrypto on March 25, 2014, 09:54:29 AM

From one dev to another, go x11. asics by gridseed are literally selling out all over in 2 months all coins that hope to be GPU mined will need a new asic resistant algo. I've followed your coin for awhile, give your loyal ppl x11 algorithm and you can cut mining cost but maintain a great hashrate to secure the blockchain, its a win win.

This. Seems the scrypt ASICs will absolutely destroy most scrypt coins. Any coin wanting to stay around is going to need X11.

Or some other ASIC hostile algorithm.

Chronikka

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Activity: 658

Merit: 504

Quote from: bigc1984 on March 25, 2014, 12:40:39 PM

Quote from: Chronikka on March 25, 2014, 12:17:23 PM

Quote from: bigc1984 on March 25, 2014, 11:57:19 AM

Quote from: AdamT on March 25, 2014, 11:40:34 AM

Quote from: Kreativekrypto on March 25, 2014, 09:54:29 AM

From one dev to another, go x11. asics by gridseed are literally selling out all over in 2 months all coins that hope to be GPU mined will need a new asic resistant algo. I've followed your coin for awhile, give your loyal ppl x11 algorithm and you can cut mining cost but maintain a great hashrate to secure the blockchain, its a win win.

This. Seems the scrypt ASICs will absolutely destroy most scrypt coins. Any coin wanting to stay around is going to need X11.

Exactly. Dev already made the stupid announcement that the coin isn't switching from scrypt and the price crashed IMMEDIATELY

By the time ASICs really become relevant for this coin (3+ months at least), we will already have 25% of scheduled coins in circulation. The added security of ASICs will be worth it by then. 100 million+ coins will be in circulation in just a couple months...buy coins directly if you don't want to get an asic.

There is no added security quite the opposite actually. It's going to open the coin up to being 51% attacked. Most of the people purchasing asics are doing so to mine ltc and have no interest in holding other coins long term, they will simply mine them to dump them. And since the majority of the ASIC users aren't going to be loyal potcoin holders, there is a good chance they will take all that hash power and use it to attack the blockchain. Buy coins directly? So you admit ASICs at the very least will take the mining power out of the hands of the average user and centralize it to huge private corporations. Sounds like the US dollar and the federal reserve all over again.

Yes there is always added security in increased hash power. They also generate less heat and consume far less energy.

As for the comment about the average person being excluded by ASICs, its just wrong. The average person doesn't own a GPU farm. The average user can't afford or aren't even capable of drawing that amount of power from their residence. Go ahead you try and run a 7-8 mh/s gpu rig out of your apartment. Heat and electricity are the bane of my existence. I have been threatened by both my apartment management group and the electric company. I give them a great big middle finger every time but I know I'm not the only one having these problems.

ASICs make it possible for the average guy (ME!) to have a reasonable level of hash power and not burn the apartment complex down. Just like the block erupters were before, these new ones are competitively priced to GPUs. Just invest in an asic and sell your gpu/cpu mining farms. Nobody is going to take a network seriously when its secured by GPUs running out of milk crates in people's basements.

bigc1984

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Activity: 658

Merit: 534

Quote from: Chronikka on March 25, 2014, 12:17:23 PM

Quote from: bigc1984 on March 25, 2014, 11:57:19 AM

Quote from: AdamT on March 25, 2014, 11:40:34 AM

Quote from: Kreativekrypto on March 25, 2014, 09:54:29 AM

From one dev to another, go x11. asics by gridseed are literally selling out all over in 2 months all coins that hope to be GPU mined will need a new asic resistant algo. I've followed your coin for awhile, give your loyal ppl x11 algorithm and you can cut mining cost but maintain a great hashrate to secure the blockchain, its a win win.

This. Seems the scrypt ASICs will absolutely destroy most scrypt coins. Any coin wanting to stay around is going to need X11.

Exactly. Dev already made the stupid announcement that the coin isn't switching from scrypt and the price crashed IMMEDIATELY

By the time ASICs really become relevant for this coin (3+ months at least), we will already have 25% of scheduled coins in circulation. The added security of ASICs will be worth it by then. 100 million+ coins will be in circulation in just a couple months...buy coins directly if you don't want to get an asic.

There is no added security quite the opposite actually. It's going to open the coin up to being 51% attacked. Most of the people purchasing asics are doing so to mine ltc and have no interest in holding other coins long term, they will simply mine them to dump them. And since the majority of the ASIC users aren't going to be loyal potcoin holders, there is a good chance they will take all that hash power and use it to attack the blockchain. Buy coins directly? So you admit ASICs at the very least will take the mining power out of the hands of the average user and centralize it to huge private corporations. Sounds like the US dollar and the federal reserve all over again. "POT"coin should be one of the first to make adjustments to fight against centralization considering the motive.

Chronikka

hero member

Activity: 658

Merit: 504

Quote from: bigc1984 on March 25, 2014, 11:57:19 AM

Quote from: AdamT on March 25, 2014, 11:40:34 AM

Quote from: Kreativekrypto on March 25, 2014, 09:54:29 AM

From one dev to another, go x11. asics by gridseed are literally selling out all over in 2 months all coins that hope to be GPU mined will need a new asic resistant algo. I've followed your coin for awhile, give your loyal ppl x11 algorithm and you can cut mining cost but maintain a great hashrate to secure the blockchain, its a win win.

This. Seems the scrypt ASICs will absolutely destroy most scrypt coins. Any coin wanting to stay around is going to need X11.

Exactly. Dev already made the stupid announcement that the coin isn't switching from scrypt and the price crashed IMMEDIATELY

By the time ASICs really become relevant for this coin (3+ months at least), we will already have 25% of scheduled coins in circulation. The added security of ASICs will be worth it by then. 100 million+ coins will be in circulation in just a couple months...buy coins directly if you don't want to get an asic.

SCryptoMiners

member

Activity: 112

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SCryptoMiners POT Pool

http://pot.scryptominers.com

Our pool has mined over 18,000,000 POT.

2 POT block finder bonus.
PPLNS (Pay Per Last N Shares) reward system
Round earnings credited after 40 confirms.
All block transaction fees are passed along to miners.
Minimum payout is 1 POT.
We process payouts every 60 seconds.

bigc1984

hero member

Activity: 658

Merit: 534

Quote from: AdamT on March 25, 2014, 11:40:34 AM

Quote from: Kreativekrypto on March 25, 2014, 09:54:29 AM

From one dev to another, go x11. asics by gridseed are literally selling out all over in 2 months all coins that hope to be GPU mined will need a new asic resistant algo. I've followed your coin for awhile, give your loyal ppl x11 algorithm and you can cut mining cost but maintain a great hashrate to secure the blockchain, its a win win.

This. Seems the scrypt ASICs will absolutely destroy most scrypt coins. Any coin wanting to stay around is going to need X11.

Exactly. Dev already made the stupid announcement that the coin isn't switching from scrypt and the price crashed IMMEDIATELY

AdamT

hero member

Activity: 486

Merit: 500

Quote from: Kreativekrypto on March 25, 2014, 09:54:29 AM

From one dev to another, go x11. asics by gridseed are literally selling out all over in 2 months all coins that hope to be GPU mined will need a new asic resistant algo. I've followed your coin for awhile, give your loyal ppl x11 algorithm and you can cut mining cost but maintain a great hashrate to secure the blockchain, its a win win.

This. Seems the scrypt ASICs will absolutely destroy most scrypt coins. Any coin wanting to stay around is going to need X11.

Kreativekrypto

full member

Activity: 196

Merit: 100

From one dev to another, go x11. asics by gridseed are literally selling out all over in 2 months all coins that hope to be GPU mined will need a new asic resistant algo. I've followed your coin for awhile, give your loyal ppl x11 algorithm and you can cut mining cost but maintain a great hashrate to secure the blockchain, its a win win.

Viceroy

hero member

Activity: 924

Merit: 501

* Viceroy rolls eyes

nomad13666

legendary

Activity: 854

Merit: 1000

Quote from: Viceroy on March 25, 2014, 08:04:26 AM

Quote from: gondel on March 25, 2014, 07:19:49 AM

Hello,
Is this coin dead already?

BR,

Gondel

Yep. RIP Potcoin.

Idiot.

anyone4u

full member

Activity: 140

Merit: 100

Quote from: Viceroy on March 25, 2014, 08:04:26 AM

Quote from: gondel on March 25, 2014, 07:19:49 AM

Hello,
Is this coin dead already?

BR,

Gondel

Yep. RIP Potcoin.

sarcasm indeed, and I would think if its trading and being mined still alot heavily compared to any previous time before, its still alive, I am not giving up on it anyway and would suggest others not do so either. It hasn't even worldwide launched yet anyway.

fairglu

legendary

Activity: 1100

Merit: 1032

Potcoin network still doing fine

http://coinz.cryptoid.info/diff/?pot

Viceroy

hero member

Activity: 924

Merit: 501

Quote from: gondel on March 25, 2014, 07:19:49 AM

Hello,
Is this coin dead already?

BR,

Gondel

Yep. RIP Potcoin.

gondel

legendary

Activity: 1960

Merit: 1005

Hello,
Is this coin dead already? If not i a selling seeds shipping worldwide, if you are interested you can PM me.

BR,

Gondel

flipme

hero member

Activity: 2170

Merit: 640

Undeads.com - P2E Runner Game

I think the price does't matter so much for now, as long as it doesn't fall off a cliff.
Exposure is more important and it will rise on news if the market develops.
If you are a believer, get them cheap now. Let the dump miners do the dirty work.

The talk about changing algos won't go away anymore.
I'm doing Darkcoin since yesterday and I already enjoy the silence and lack of heat mining X11.
My power bill will be cut in half. The chart for the coin looks amazing.

A lot of the hassle regarding fundamental changes in the software would be taken away, if there were an in-app update method contained in the wallet.

anyone4u

full member

Activity: 140

Merit: 100

also look here

Bitcoin Crashes, Loses Half Of Its Value In Two Days
Tyler Durden's pictureSubmitted by Tyler Durden on 12/07/2013 10:27 -0400

after hating it at $200 only to love it at $1200 that Bitcoin... would promptly crash. And crash it did: overnight, following previously reported news that China's Baidu would follow the PBOC in halting acceptance of Bitcoin payment, Bitcoin tumbled from a recent high of $1155 to an almost electronically destined "half-off" touching $576 hours ago, exactly 50% lower, on very heave volume, before a dead cat bounce levitated the currency back to the $800

http://www.zerohedge.com/news/2013-12-07/bitcoin-crashes-loses-half-its-value-two-days

So if miners still love their potcoin and just as I have seen no shortage of miners or sellers, people are not stop mining potcoin, not people not stop selling potcoin. So supply and demand, and I can only see more of it happening in the future. Also it is said if you read previous articles I posted above, they say something like the big rise in bitcoin price was pumped by 47 top account holders. Now we are more diversified and coins of pot in more peoples hands so not as easy to manipulate prices in future as it may now as we are seeing now on potcoin.

Chronikka

hero member

Activity: 658

Merit: 504

Quote from: bdc2343 on March 24, 2014, 10:50:54 PM

looks like the miners control this coin. Soon there will be 100 million outstanding and it will be impossible to get to $1.00 with that many coins out. we are going lower and lower. they can stop this by halving but miners rule.

So you would rather one or two big investors hold all the coins? How about you start mining and supporting our network instead of trying to make a few bucks off of it.

Mining is what distributes the coins as well as secures the network. Never heard anybody criticize miners for being greedy before...

The free market will decide what this coin is worth, we shouldn't need to alter it for artificial gains.

Topic: [POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦ - page 256. (Read 920135 times)