rpietila Altcoin Observer - page 76.

rpietila

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Quote from: Lauda on August 23, 2014, 04:20:55 PM

Quote from: rpietila on August 23, 2014, 04:11:23 PM

Please help me: how have the coins changed?

I didn't mean that the coins have changed themselves in regards to their block rewards and similar things. What I meant was feature wise, some have new features that should be commented on and mentioned. Don't you think so?

Well, I cannot reasonably support more than 2 coins without losing credibility. So the others don't interest me until either BTC or XMR bites the dust. If you want to educate others, please make an educated post!

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: rpietila on August 23, 2014, 04:11:23 PM

Please help me: how have the coins changed?

I didn't mean that the coins have changed themselves in regards to their block rewards and similar things. What I meant was feature wise, some have new features that should be commented on and mentioned. Don't you think so?

cAPSLOCK

legendary

Activity: 3766

Merit: 5146

Whimsical Pants

Quote from: SlipperySlope on August 23, 2014, 03:28:43 PM

Here is the one-week resolution chart of Litecoin / Yuan as reported by the very liquid OKCoin exchange. The rightmost candle now has a technical shape that suggests indecision, and with relatively high volume indicates that the recent price capitulation has either ended or paused. As the resistance downtrend line from the November 2013 peak has not yet been convincingly pierced to the upside, conventional TA wisdom says the down trend from the peak has not yet reversed.

My question at this juncture is where can I short Litecoin?

rpietila

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Activity: 1722

Merit: 1036

Quote from: Lauda on August 23, 2014, 03:43:08 PM

Are you planning to make an update to this at all?
A lot of things have changed in regards to quite a number of coins.
You should also take another look at DRK.

Please help me: how have the coins changed?

JorgeStolfi

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Activity: 910

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Quote from: Melbustus on August 23, 2014, 03:48:58 PM

Satoshi realized from the beginning that full-nodes and mining would converge to industrial-scale entities. [ ... ] it doesn't destroy the value of such a system (since it will likely NOT centralize into a monopoly or oligopoly).

Why is that certain? Didin't it almost happen already with Bitcoin?

Melbustus

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Quote from: SlipperySlope on August 22, 2014, 07:56:51 PM

...
Perhaps Satoshi believed back in 2009 that Bitcoin users would generate bitcoins on their own personal computers so that each user ran a full node, securing the network, and receiving appropriate remuneration by way of bitcoins mined. But, by 2011 in his last posts on this forum, Satoshi came to believe that industrial mining was the future, with the vast majority of non-generating users connected to a few centralized miners, e.g. the big pools that we have today, with the current 7000 Bitcoin volunteer full nodes unpaid, and mining few if any bitcoins.

Your implication that Satoshi originally thought industrial scale mining would never happen is false. Satoshi realized its inevitability right from the beginning:

Quote from: Satoshi, Nov 2nd, 2008

At first, most users would run network nodes, but as the
network grows beyond a certain point, it would be left more and more to
specialists with server farms of specialized hardware.

http://www.mail-archive.com/cryptography%40metzdowd.com/msg09964.html

Satoshi realized from the beginning that full-nodes and mining would converge to industrial-scale entities. He realized that this is an absolute inevitability of PoW blockchain consensus, and furthermore, that it doesn't destroy the value of such a system (since it will likely NOT centralize into a monopoly or oligopoly).

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Are you planning to make an update to this at all?
A lot of things have changed in regards to quite a number of coins.
You should also take another look at DRK.

SlipperySlope

hero member

Activity: 686

Merit: 501

Stephen Reed

Here is the one-week resolution chart of Litecoin / Yuan as reported by the very liquid OKCoin exchange. The rightmost candle now has a technical shape that suggests indecision, and with relatively high volume indicates that the recent price capitulation has either ended or paused. As the resistance downtrend line from the November 2013 peak has not yet been convincingly pierced to the upside, conventional TA wisdom says the down trend from the peak has not yet reversed.

SlipperySlope

hero member

Activity: 686

Merit: 501

Stephen Reed

Quote from: thelibertycap on August 23, 2014, 07:40:09 AM

Quote from: AnonyMint on August 19, 2014, 12:44:21 PM

1. The most used contracts must be put on ASICs to get scaling, because Moore's Law is ending (unless POET rescues it), i.e. they will force more centralization of mining not less.

Intel is working on it for a long time it seems from this 2009 article http://optics.org/article/40732 and they can throw billions at it so I am not too worried about that. Apparently we still have years before we start hitting limits even with current old-school technologies.

What's more - sillicon photonics is here, its the first step in this direction and should drop the costs of photonics considerably and drive the innovation further http://www.theinquirer.net/inquirer/news/2345610/intel-primes-market-for-silicon-photonics-to-lift-data-centre-interconnect-speeds

Industrial miners will seek the least expensive power, cooling and labor. ASIC fabrication plants have the ability to continue scaling in spite of impending lithography limits by advancing to 3-dimensional monolithic circuits. I expect that even small advances in hashing per watt will induce industrial miners to replaced their older rigs in less than a year, because of the relentless pace of difficulty increases in PoW coins.

As Tim Swanson well describes in his recent book, the marginal profit gained by miners when PoW coin prices increase is swiftly accommodated by an equal rise in the mining difficulty as competing miners add to their existing capacity.

I recall solo mining a couple of bitcoin blocks back in June 2010 after a popular tech blog brought Bitcoin coin to my attention. Within a few weeks, I shut down my quad core CPU miner as, on this forum, system administrators were bragging that they had installed bitcoind on hundreds, if not thousands, of computers at their workplaces. Difficulty soared back then, not because of any new mining tech, but rather because the capacity could be added and it was.

thelibertycap

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Activity: 211

Merit: 100

Quote from: AnonyMint on August 19, 2014, 12:44:21 PM

1. The most used contracts must be put on ASICs to get scaling, because Moore's Law is ending (unless POET rescues it), i.e. they will force more centralization of mining not less.

Intel is working on it for a long time it seems from this 2009 article http://optics.org/article/40732 and they can throw billions at it so I am not too worried about that. Apparently we still have years before we start hitting limits even with current old-school technologies.

What's more - sillicon photonics is here, its the first step in this direction and should drop the costs of photonics considerably and drive the innovation further http://www.theinquirer.net/inquirer/news/2345610/intel-primes-market-for-silicon-photonics-to-lift-data-centre-interconnect-speeds

AlexGR

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Merit: 1049

Quote from: rpietila on August 22, 2014, 02:30:18 PM

Gold mining also raised socialist-warmonger ambitions: it was forbidden in the U.S. during WWII, because it was seen as waste of resources. (I would have argued that the war was the waste of resources, not gold mining, but nobody asked my opinion..)

Logically processed, it was just a bullshit excuse. For the gold miner, it's not like a ban would make him mine something else (say a strategic metal like nickelium or copper) instead. His equipment is specifically designed to mine gold due to separating very heavy ore and particles (gold) from light ores and dirt. Thus the only waste of resources comes from having such machines sitting idle.

noelmal

sr. member

Activity: 265

Merit: 250

Quote from: rpietila on August 22, 2014, 02:30:18 PM

Gold mining also raised socialist-warmonger ambitions: it was forbidden in the U.S. during WWII, because it was seen as waste of resources. (I would have argued that the war was the waste of resources, not gold mining, but nobody asked my opinion..)

I disagree nothing saves resources better longterm then thinning the pack a little Wink

SlipperySlope

hero member

Activity: 686

Merit: 501

Stephen Reed

Quote from: rdnkjdi on August 22, 2014, 06:25:31 PM

So I keep watching the XC chat thread. Those guys over there remind me of dogers except almost worse. Their structure and optimism and complete ... ADHD of features just kinda fascinates me. They just announced XAdvertise (decentralized/blockchainified advertisement) or something.

. . .

It's just ... really weird weird coin/chat/advertising platform/whatever it is. Anybody have any insight?

I do not have an opinion on whether their project as a whole has any merit, but I do like certain ideas that are shared with my own project. Namely, paying full node operators to secure the network. I believe that Satoshi PoW coins mis-allocate their block rewards which could be better spent elsewhere, provided the blockchain is secured in a free, distributed, transparent, and trustless manner as Satoshi required for Bitcoin.

Perhaps Satoshi believed back in 2009 that Bitcoin users would generate bitcoins on their own personal computers so that each user ran a full node, securing the network, and receiving appropriate remuneration by way of bitcoins mined. But, by 2011 in his last posts on this forum, Satoshi came to believe that industrial mining was the future, with the vast majority of non-generating users connected to a few centralized miners, e.g. the big pools that we have today, with the current 7000 Bitcoin volunteer full nodes unpaid, and mining few if any bitcoins.

rdnkjdi

legendary

Activity: 1256

Merit: 1009

So I keep watching the XC chat thread. Those guys over there remind me of dogers except almost worse. Their structure and optimism and complete ... ADHD of features just kinda fascinates me. They just announced XAdvertise (decentralized/blockchainified advertisement) or something.

https://bitcointalksearch.org/topic/m.8492212

Their developer ~~has~~ had himself listed as CEO of XCurrency - https://www.linkedin.com/pub/dan-metcalf/12/1a8/b82. Admittedly he has some accomplishments ... but they say he's self funding the project (along with some of a premine) to "pay salaries"

This is their team - http://xc-official.com/the-xc-team/

They've got cjfromthesea from bitcointalk listed. I can't find any posts from him.

https://bitcointalksearch.org/user/cjfromthesea-353448

It's just ... really weird weird coin/chat/advertising platform/whatever it is. Anybody have any insight?

MoneroMooo

legendary

Activity: 1276

Merit: 1001

Quote from: AnonyMint on August 21, 2014, 08:35:17 AM

There is a reason the Bible says you can only lend at interest to a stranger, not to one of your own.

Xenophobia ?

And yes, I do realize that the common wisdom of human (pre) history was about survival of small groups, with occasional encounters, violent or otherwise, with other such groups. Still, I found the apparent reliance on perceived authority amusing in a context where it makes it appear in the opposite way as religious authorities would like it to appear nowadays

Globb0

legendary

Activity: 2674

Merit: 2053

Free spirit

so it could be 199% likely?

hmmm must sell the car quick

BeeTeeSea

member

Activity: 70

Merit: 10

What are the chances of Monero hitting say... 100 USD in the next 5 years?

smooth

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Activity: 2968

Merit: 1198

Quote from: Este Nuno on August 22, 2014, 03:07:37 PM

Quote from: rpietila on August 22, 2014, 02:30:18 PM

Gold mining also raised socialist-warmonger ambitions: it was forbidden in the U.S. during WWII, because it was seen as waste of resources. (I would have argued that the war was the waste of resources, not gold mining, but nobody asked my opinion..)

World War II was a waste?

On topic:

In that thread where that guy revealed that CN and Bytecoin were at the very least supporting each others lies, the CN/BCN shill accounts have come crawling out of the woodwork. There's a few of them registered with in a few minutes of each other as well, it's quite funny.

CryptoNote is now claiming that their website was hacked and someone placed fake whitepapers on it! Hilarious..

You Monero folks have to be extra careful about that code base imo. These CN people are absolutely nuts.

We're way ahead of you

Quote from: smooth on August 18, 2014, 09:17:04 AM

Unlike the others, Monero is a completely clean slate and has no relationship whatsoever with the bytecoin/cryptonote scammers, despite their apparent effort to saturate the market with their own pump-and-dump clones.

I will say that given the degree of fraud and deceit uncovered, it is reasonable to be cautious about the possibilities of back doors in the code. We have reviewed a lot and continuing to review everything very, very carefully. Nevertheless it is somewhat new code from a source that is not only untrusted but now reasonably distrusted. Caution is advised.

Este Nuno

legendary

Activity: 826

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amarha

Quote from: rpietila on August 22, 2014, 02:30:18 PM

Gold mining also raised socialist-warmonger ambitions: it was forbidden in the U.S. during WWII, because it was seen as waste of resources. (I would have argued that the war was the waste of resources, not gold mining, but nobody asked my opinion..)

World War II was a waste?

On topic:

In that thread where that guy revealed that CN and Bytecoin were at the very least supporting each others lies, the CN/BCN shill accounts have come crawling out of the woodwork. There's a few of them registered with in a few minutes of each other as well, it's quite funny.

CryptoNote is now claiming that their website was hacked and someone placed fake whitepapers on it! Hilarious..

You Monero folks have to be extra careful about that code base imo. These CN people are absolutely nuts.

rpietila

donator

Activity: 1722

Merit: 1036

Gold mining also raised socialist-warmonger ambitions: it was forbidden in the U.S. during WWII, because it was seen as waste of resources. (I would have argued that the war was the waste of resources, not gold mining, but nobody asked my opinion..)

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