Seven lie alt coins - more data, more truth

Lauda

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Terminated.

Quote from: hasle2 on August 31, 2013, 07:01:15 PM

Quote from: Online24o0n on July 22, 2013, 09:10:08 PM

Wow you kids are idiots. Bitcoin is Bitcoin, use it, mine it, promote it, enough said. Litecoin is an alternative to Bitcoin, more affordable for people who cant afford Bitcoin.
Bitcoin is like having bills while litecoin is like having change.

We dont need more alts, period.

Damn noobs.

What about when bitcoin mining produces almost nothing so there is no reason to mine and the network has rate drops like a rock? I doubt people will spend millions on hardware an power every year when mining doesn't give out any significant return anymore. It has a cap of 21 million coins remember.

This is where coins like PPC and XPM come in.

No and no.
Other coins yes, but those two no.

hasle2

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Quote from: Online24o0n on July 22, 2013, 09:10:08 PM

Wow you kids are idiots. Bitcoin is Bitcoin, use it, mine it, promote it, enough said. Litecoin is an alternative to Bitcoin, more affordable for people who cant afford Bitcoin.
Bitcoin is like having bills while litecoin is like having change.

We dont need more alts, period.

Damn noobs.

What about when bitcoin mining produces almost nothing so there is no reason to mine and the network has rate drops like a rock? I doubt people will spend millions on hardware an power every year when mining doesn't give out any significant return anymore. It has a cap of 21 million coins remember.

This is where coins like PPC and XPM come in.

claycoins

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Quote from: patapato on August 31, 2013, 05:58:17 PM

The future of any cryptocoin does not depend on the way that it begun, it does not depend on how much coins are hoarded by anyone. FeatherCoin begun as a speculation, I agree, but it is surviving after that, it is peer-to-peer, it doesn't need the original developers and promotors anymore. Perhaps Satoshi mined lots of Bitcoins, but the future of Bitcoin is now independent of it. The market is ultimately free, and the market of cryptocoins is more free than any market because of anonimity and privacy granted by criptography and the peer-to-peer scheme.

So, the arguments of the original post are mostly not valid. The future of any cryptocoin depends only on how much people wants to use or to have it (if it is safely designed). There is a feedback effect, the more a cryptocoin is used, owned or produced, the more people will want to use it, have it or produce it. So, two good indicators for the future of a cryptocoin are total mininig power (only comparable for coins with the same base algorithm) and total market value (in dollars or in BTC, to be comparable).

Well said.

patapato

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The future of any cryptocoin does not depend on the way that it begun, it does not depend on how much coins are hoarded by anyone. FeatherCoin begun as a speculation, I agree, but it is surviving after that, it is peer-to-peer, it doesn't need the original developers and promotors anymore. Perhaps Satoshi mined lots of Bitcoins, but the future of Bitcoin is now independent of it. The market is ultimately free, and the market of cryptocoins is more free than any market because of anonimity and privacy granted by criptography and the peer-to-peer scheme.

So, the arguments of the original post are mostly not valid. The future of any cryptocoin depends only on how much people wants to use or to have it (if it is safely designed). There is a feedback effect, the more a cryptocoin is used, owned or produced, the more people will want to use it, have it or produce it. So, two good indicators for the future of a cryptocoin are total mininig power (only comparable for coins with the same base algorithm) and total market value (in dollars or in BTC, to be comparable).

usahero

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Quote from: Online24o0n on July 22, 2013, 09:10:08 PM

Wow you kids are idiots. Bitcoin is Bitcoin, use it, mine it, promote it, enough said. Litecoin is an alternative to Bitcoin, more affordable for people who cant afford Bitcoin.
Bitcoin is like having bills while litecoin is like having change.

We dont need more alts, period.

Damn noobs.

rofl.

We need alt coins so that established hoarders do not earn too much money on idiots investing in established hoarded coins.

Lauda

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Terminated.

Quote from: superresistant on July 24, 2013, 03:27:31 AM

All of this because XPM degree of monopoly harsh mineral

Monopoly, yup, and people who didn't jump in on time/don't have powerfull enough hardware just QQ that they didn't earn a couple hundred bucks the first day or two Roll Eyes

superresistant

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All of this because XPM degree of monopoly harsh mineral

n4ru

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Quote from: Online24o0n on July 22, 2013, 09:10:08 PM

Wow you kids are idiots. Bitcoin is Bitcoin, use it, mine it, promote it, enough said. Litecoin is an alternative to Bitcoin, more affordable for people who cant afford Bitcoin.
Bitcoin is like having bills while litecoin is like having change.

We dont need more alts, period.

Damn noobs.

Right, because bitcents aren't a thing.

Top lel.

FreeTrade

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Quote from: coinerd on July 23, 2013, 01:09:58 PM

As well as I can parse this, I agree very strongly.

People are costing themselves, and others, real long term opportunity to try and grab a few extra dollars with these new coins all the time.

There aren't many actual "crypto-currency supporters" here, that I can see. Just a load of people trying to make a buck today with very little, if any, eye to the future.

Also agree - I think you have to view some market participants as a form of human DDOS . . . and a new crypto-currency has to be designed to withstand this kind of attack.

coinerd

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Quote from: digitalindustry on July 23, 2013, 08:23:15 AM

nope -

actually the main point of your argument there is trying to justify , say for example the issuance of say half of a years worth of "currency" (anything of value) , then hold that for exchange wait for other investors to come along and then dump it on them.

most (if the writer is correct) are different versions of that same general scheme , so no, that's not trying to benefit the community , no not at all - That's trying to benefit the individual.

however , when innovation plays a part - then the individual by trying to benefit himself does in fact benefit the community , but don't confuse those two things less you come off looking like a cowardly "enabler" apologist of general theft and corruption -

and "We all get screwed by Fiat" - where did that come from ?

most of the time the Pump and Dump scams are to just what?, cash out to fiat ? ha ha -

come on.

I don't care that it happens - but i don't cowardly justify it -

As well as I can parse this, I agree very strongly.

People are costing themselves, and others, real long term opportunity to try and grab a few extra dollars with these new coins all the time.

There aren't many actual "crypto-currency supporters" here, that I can see. Just a load of people trying to make a buck today with very little, if any, eye to the future.

digitalindustry

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‘Try to be nice’

Quote from: tupacshomey on July 23, 2013, 07:59:32 AM

A lot of what's said in the OP is what I've come across as the weeks and months have been passing.

Whether you want to believe it or not, only the alt coin miners rummage through all the info online, and are the ones who know. Yes there's also a surplus of different coins, the world doesn't use just one currency. If it does eventually it'll be BTC/LTC, and others will be on smaller scales for easy transactions.

Of course we all want to benefit, that doesn't mean it isn't doing the work of growing the community.
Soon more and more people will get options of what coin they want to use. Saying any particular coin is the best, is like saying a specific religion is best. Useless fight. When I hear people putting down better attributed coins, it's all in the worry that whichever they like will lose interest of some major hashing power.

Do what you can to help others come up, we all getting screwed over by fiat.... Even if new chains appear, it's putting our funds somewhere else, althought some could really use an overhaul. You know whic ones to mine, all the info is online.

We as humans.... Do what we want anyway...

nope -

actually the main point of your argument there is trying to justify , say for example the issuance of say half of a years worth of "currency" (anything of value) , then hold that for exchange wait for other investors to come along and then dump it on them.

most (if the writer is correct) are different versions of that same general scheme , so no, that's not trying to benefit the community , no not at all - That's trying to benefit the individual.

however , when innovation plays a part - then the individual by trying to benefit himself does in fact benefit the community , but don't confuse those two things less you come off looking like a cowardly "enabler" apologist of general theft and corruption -

and "We all get screwed by Fiat" - where did that come from ?

most of the time the Pump and Dump scams are to just what?, cash out to fiat ? ha ha -

come on.

I don't care that it happens - but i don't cowardly justify it -

tupacshomey

newbie

Activity: 40

Merit: 0

A lot of what's said in the OP is what I've come across as the weeks and months have been passing.

Whether you want to believe it or not, only the alt coin miners rummage through all the info online, and are the ones who know. Yes there's also a surplus of different coins, the world doesn't use just one currency. If it does eventually it'll be BTC/LTC, and others will be on smaller scales for easy transactions.

Of course we all want to benefit, that doesn't mean it isn't doing the work of growing the community.
Soon more and more people will get options of what coin they want to use. Saying any particular coin is the best, is like saying a specific religion is best. Useless fight. When I hear people putting down better attributed coins, it's all in the worry that whichever they like will lose interest of some major hashing power.

Do what you can to help others come up, we all getting screwed over by fiat.... Even if new chains appear, it's putting our funds somewhere else, althought some could really use an overhaul. You know whic ones to mine, all the info is online.

We as humans.... Do what we want anyway...

digitalindustry

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‘Try to be nice’

Quote from: xan_The_Dragon on July 22, 2013, 09:39:21 PM

Replace the following words and it reads fine
outputs=rewards
black = scam
query= block explorer
credits=coins
steal=premining
dug up = mine
minerals= blocks

No i like it as is , I'm native to English {perhaps} and i prefer it as is , much nicer, because if you really understand English it makes the story much more poetic.

digitalindustry

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‘Try to be nice’

Quote from: Walt Sobchak on July 22, 2013, 10:55:01 AM

Quote from: digitalindustry on July 22, 2013, 09:51:19 AM

Quote from: Walt Sobchak on July 22, 2013, 09:34:43 AM

Quote from: ?? on ??

many of you are clearly ignorant brats.
there is no doubt what so ever that this guy is almost certainly Chinese and translated this to English for your benefit
and your thanks is to insult the hell out of him and post truly stupid pictures that are not vaguely funny in the slightest.
I knew damn well what the replies were going to be before i even scrolled lol
I would have bet the most used phrase from kids is "WTF da fuk did i just read Huh

" ..ya YOUR the smart one LOL

the guy was making a lot of sense i think. i didn't hear ANYTHING that i could find fault with.

So sick and tired of morons trashing on people that comment if their English isn't perfect.
I'm a white guy from Canada and i know only English myself but i am perceptive enough to see the nuances of someone
speaking when English is their second language.. it is really not that hard to tell.

The lack of explanation or hard evidence is what I disagree with. Seems pretty opinion based to me.

That could be because you are retarded in some way ? Perhaps not on the other hand , but it's a possibility so don't immediately discount it as a possibility.

The OP complains of block target times but doesn't take in to account the massive amount of computational power on launch that drives the spacing lower than its target. I'm not saying he's wrong with all of the coins assessed here but several of them are simply worded the way they are due to misinformation.

Why go right to calling me a retard? Especially with no explanation. You can do better than that, I hope...

Hey hey hey , I'm not calling you a Retard , i said its a possibility and only that its possible in some way - look more as I'm saying perhaps you didn't see something .

Balthazar - who cares if they call NVC a Clone a Copy or a Carrot - I'm more concerned about the allegations of the fact that up to 60% was mined on the first days weeks?

xan_The_Dragon

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Activity: 322

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I AM A DRAGON

Replace the following words and it reads fine
outputs=rewards
black = scam
query= block explorer
credits=coins
steal=premining
dug up = mine
minerals= blocks

AgentME

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Quote from: ilostcoins on July 22, 2013, 09:06:05 PM

For the primecoin change, I'm still scratching my head what it's supposed to achieve apart from being a nice gimmick. I'm not aware of any evidence that the algorithm does valuable things for science and how valuable those things are in the short and long term. If it's some kind of proof of concept, then it's basically asking for itself to be replaced.

Its hashing function is much more interesting than Bitcoin's. Bitcoin spends a lot of computational power over the world on verifying the latest block. Primecoin spends a lot of computational power on verifying the latest block, and in making a blockchain of mildly interesting computations. It's not protein-folding tier interesting but it's still at least maybe-paper-citable tier interesting, and I think that's enough to warrant its existence and use.

Quote from: Online24o0n on July 22, 2013, 09:10:08 PM

Wow you kids are idiots. Bitcoin is Bitcoin, use it, mine it, promote it, enough said. Litecoin is an alternative to Bitcoin, more affordable for people who cant afford Bitcoin.
Bitcoin is like having bills while litecoin is like having change.

We dont need more alts, period.

Damn noobs.

You say we don't need more alts, but defend Litecoin in the same breath? And what about actually un-debatably innovative alts, like Namecoin and ppcoin? (And you know "change" for Bitcoin already exists, right? You can have bitcoin amounts less than one!)

Online24o0n

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"Ignorance never settles a question."

Wow you kids are idiots. Bitcoin is Bitcoin, use it, mine it, promote it, enough said. Litecoin is an alternative to Bitcoin, more affordable for people who cant afford Bitcoin.
Bitcoin is like having bills while litecoin is like having change.

We dont need more alts, period.

Damn noobs.

ilostcoins

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Activity: 274

Merit: 250

Quote from: skull88 on July 22, 2013, 08:26:12 PM

Quote from: Online24o0n on July 22, 2013, 07:40:16 PM

XPM was never innovative, its not hard to see its just another hype coin thats to be pumped and dumped... people should realize by now to stick with BTC and LTC.

Why stick to Litecoin than? Don't get me wrong, I'm a big supporter of Litecoin but I don't get why changing the algo to scrypt is innovative and changing it to an algo that creates prime numbers is not? Undecided

People here often talk about innovation, but to what end? What effect does that change have?

The biggest effect scrypt has is it keeps the ASIC away (at least so far). That means a wider base of people can participate in "mining" with gaming hardware. ASIC mining narrows down mining participation to those willing to invest in dedicated hardware with no alternative use. More people having a stake in a coin results in better chance of success.

For the primecoin change, I'm still scratching my head what it's supposed to achieve apart from being a nice gimmick. I'm not aware of any evidence that the algorithm does valuable things for science and how valuable those things are in the short and long term. If it's some kind of proof of concept, then it's basically asking for itself to be replaced.

reb0rn21

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OP is gr8 at mixing the truth with PURE speculations and FUD i bet for his own interest/hate

judging primecoin for its "strange" diff and zilions of CPU mining it as scam is pure FUD and CRAP talk!

everyone could invest in servers online and profit, i have not because i don`t know how so i must hate all ppl that did so! ROFL

skull88

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Quote from: Online24o0n on July 22, 2013, 07:40:16 PM

XPM was never innovative, its not hard to see its just another hype coin thats to be pumped and dumped... people should realize by now to stick with BTC and LTC.

Why stick to Litecoin than? Don't get me wrong, I'm a big supporter of Litecoin but I don't get why changing the algo to scrypt is innovative and changing it to an algo that creates prime numbers is not? Undecided

Topic: Seven lie alt coins - more data, more truth (Read 5559 times)