Topic: rpietila Altcoin Observer - page 112. (Read 387552 times)

How do you get there without roads

Just to be clear: Nekomata was not quoting me in this instance. I agree strongly with his point about xn times and confirmations.

Guys, what do you think about Cryptonite? Paper-wise, this coin is excellent for micro-transactions

Viacoin hires Peter Todd as Scientific Advisor

https://twitter.com/viacoin/status/494874526753513473?refsrc=email

Upon observing a tan-colored sheep in a field, a tourist turns to his wife and excitedly exclaims:  "I told you there were no black sheep in Scottland!"

Agree .

Like many here , I have made many types of transactions in BTC and dozens of different altcoins on a daily basis, as well as mining,  for more than a year, and overall would say that 1-2 minutes is a good compromise.

I would love to live on that island ! 

Well, the transaction is just broadcast but not actually on the blockchain yet, right? Isn't that the whole issue? There are a whole other category of doublespend attacks possible with 0 conf transactions. Which is why almost every Bitcoin service I use has me waiting for one or two confirmations first. Which is horrible when you are waiting over an hour. Even the average time of 10-20 minutes for 1-2 confirmations is pretty long.

For some transactions like buying a coffee 0 confs are fine. But since most services deem 1 confirmation acceptable for almost all normal transactions(which I feel is the right balance between security and convenience) having that confirmation come in less than a range of seconds to an hour is far better imo.

24 seconds is quite fast. Not sure how that will work out. But at this point I think it's pretty clear that 1-2 minute confirmations are superior despite the hash that gets wasted on orphans. The point being that ease of use should be a priority over mining efficiency.

At this point the only relationship there seems to be is "they're paying me some money".

It is good though that they're attempting to put that ~$350,000 IPO money to some use though.

It's pretty amazing that people were willing to throw that much money at them though. Hopefully they put it to good use.

Seems like VIA is claiming to be what Bitcoin does not want to do. (Not what it can't do).

Anyways, it seems to be getting a reputation boost by hiring and associating with Peter Todd so I see Peter Todd as a major piece of the puzzle.  If Peter Todd decides to leave or has a breakdown in relationship with the VIA team, that could spell disaster for the coin.

When you have a moment please tell us why. Without a rationale that just seems trollish.

I certainly don't mind if it does fail, but you have to give them credit for pushing the ball forward on tree chains (as well as putting open-ended contract protocols on a more secure, PoW, footing). That alone won't make it investable, but it sure is interesting.

People, don't get so defensive of the very extraordinary distinction of your betrothed that you can't admit some of the other girls have certain charms of their own. 

Analysis of state of the art "botnet mining software" system:

http://malware.dontneedcoffee.com/2014/07/sky-share-evolution-mining-botnet-system.html

Still no CryptoNote-support, only does Scrypt and Quark.


---> All good until now. Yeah, yeah I know there maybe some small, amateur botnets that mine XMR. But the accusations that the professional botnet mining scene is big involved in XMR/CN-mining is still wrong and FUD.

Mine is hooked up to Ayn Rand spinning in her grave.

From the free market of course.  There's the turbine plant next to the LNG terminal.  And the the offshore wind generators.  Plus most buildings have solar panels.  Personally, I use an electrostatic dynamo left to me by my friend John.

Due to the mixing property of bitcoin transactions, black coins will slowly mix with white coins and the UTXO set will soon be filled with every shade of grey.  Even the "virgin" coinbase output in each new block would become "tainted" by the transaction fees from any grey coins included in that block.  Any attempt at blacklisting would then require drawing a line in the sand for how "grey" a coin could be before it should be refused.  This line in the sand would likely be different across users, merchants and countries.  

Markets would emerge that discount coins based on the coin's grey level.  For example, if X is the greyness (1 being black and 0 being white), the discount would likely be linear in X:

   effective BTC value = BTC value  * (1 - k*X)

where k is the discount factor.  And as soon as these markets are efficient, then users don't really need to care about how dark their coins are as long as the value the user sees is the value after discounting based on grayscale.  Wallets could even deal with this in an automatic fashion as it would present an arbitrage opportunity.  "Did someone send you bright white coins?  Well, just blacken them down to the threshold and earn some free BTC!"  The end result is effectively fungible money.  

People of course realize this and the blacklist becomes a joke (or more likely, would never happen in any meaningful way in the first place).

Where do you get your electricity?

Once again looking to Reddit indicates a bit of shitcoin-ness behind the hype. Quotes from Peter Todd, allegedly hired by them as his "Chief Scientist," etc.

http://www.reddit.com/r/Bitcoin/comments/2c9700/peter_todd_hired_by_viacoin_to_work_on_tree_chains/cjde4vt

Comparing the tone and content of that with the press release version and I find the gap a bit scary:

http://blog.viacoin.org/2014/07/31/viacoin-hires-peter-todd.html

Technology might be okay, I really have no idea, but trying a bit too hard to sell it for my tastes.

Keep using Bitcoin.  Or Monero, if you want privacy.

For everything else, there's Cryptonite.  That's why we're making so many of them.

And no, I don't have a problem with half of the 1.84 billion total being mined over the next 10 years.

The emission rate was revisited twice, and IMO they got it perfect for the intended use as the 'small bills and change' of the internet.

On the island of Libertopia we buy real estate with Bitcoin, lattes with Cryptonite, and party supplies with Monero.   

I am mining XCN.  I think the coin is probably temporary, definitely over-priced, but the tech is good.

I am starting to look at VIA because I hear it will be a treechain testbed, and because it intends to serve as a 2.0 platform with PoW.

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