So what happened with all the "belief" in WDC?

Hydroponica

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fml

Quote from: Praxis on May 30, 2013, 12:16:56 PM

WDC had more votes and it has a bigger community behind.
I would be very surprised if Vircurex decided for DGC instead.

Vircurex stated, that the vote, did not mean, that's which coin they would add. There has been a lot of issues, regarding orphans and stale rates, surrounding WDC. DGC has a large community as well, they are just confined to Cryptsy, atm. DGC has shown more stability, in the last little while. There is also, considerably less DGC existing in the world. And, DGC's Dev, is very active, and working hard, to secure our investment. They are both good coins, in their own right, but I believe, DGC may come out on top.

mr_random

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Quote from: Praxis on May 30, 2013, 12:16:56 PM

WDC had more votes and it has a bigger community behind.
I would be very surprised if Vircurex decided for DGC instead.

+1.

Praxis

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WDC had more votes and it has a bigger community behind.
I would be very surprised if Vircurex decided for DGC instead.

clint25n

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I remember this good 'ol thread.
Like a trip down memory lane.

digitalindustry

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‘Try to be nice’

So what happened with all the "belief" in WDC?

2 dollar shop .

Glue.

WDC "belief" instantly back.

peonminer

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Crypto is King.

So fun to watch trolls spend endless hours repeating themselves for every new alt coin.

Jcw188

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Carpe Diem

Well, WDC did have more votes than DGC (wasn't that close). So it's prob. Worldcoin.

Hydroponica

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fml

Quote from: Praxis on May 30, 2013, 10:01:43 AM

Well WDC is probably hitting Vircurex soon, so that will be its second chapter.

Think so? I think, perhaps, it will be DGC...

Praxis

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Well WDC is probably hitting Vircurex soon, so that will be its second chapter.

Thorgrim

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Quote from: ?? on ??

LTC dropped from 0.0325 to 0.0245 recently, you haven't noticed that?

It has and to be honest I am a little dissapointed in LTC performance the last couple of weeks but it is only really dropping vs BTC which has been trending up. In USD it is only down 15 cents.

Kinetic915

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Didn't Yacoin introduce scrypt-3?

Twerka

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Quote from: erk on May 22, 2013, 06:27:07 PM

Quote from: Twerka on May 22, 2013, 06:07:41 PM

You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin.
People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term.

Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC...

Miners generally have no idea what is "profitable" the use sites like Coinchoose to spoon feed them what to mine. However as I have pointed out in the Coinchoose thread, their methodology is flawed, and it is misleading miners.

Of course, the site shows what is most profitable only if you mine and sell now; it does not shows what happened if the value go up or down in the future.
The tool is good, but people do nto know how to use it.

BitJohn

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Quote from: ?? on ??

Quote from: Thorgrim on May 22, 2013, 06:38:25 PM

What Litecoin did was find markets so you can buy and sell with it. That is why it is worth so much compared to all the other Alt-coins

Let me recall how situation with LTC went:

1. It was selling for as little as 0.003 when rumours about Gox adding it soon started.
2. Price went to over 0.01 in a matter of few hours which resulted in mining profitability jumping to 300% or more.
3. Miners saw that and switched their hashpower to LTC, difficulty slowly went up to compensate and hitted highest ever values.
4. Even more miners are mining LTC now due to old "LTC on Gox soon!" bullshits still echoing and new bullshits occassionaly being added to soundscape.
5. "LTC on Gox soon!" is starting to resemble BFL's "Shipping ASIC soon!" mantra but most people seem to be unable to fight neither of them.

LTC dropped from 0.0325 to 0.0245 recently, you haven't noticed that?

I am a fan of both coins but really Bitcoin fell from $260 remember that?

relm9

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Quote from: Thorgrim on May 22, 2013, 06:38:25 PM

What Litecoin did was find markets so you can buy and sell with it. That is why it is worth so much compared to all the other Alt-coins and that is why BTC is still worth more then LTC it has a larger marketplace from which to spend your coins.

Everyone seems to be fixated on the technical aspects of the coins but this isn't what is ultimately going to provide lasting value to them. They need to have markets other then just being traded for other crypto-currencies. If that is all they are good for they are speculative value only and their value will go poof as soon as the speculators move onto something new.

You are right, but in the early stages a huge reason people mined Litecoin was because it was ASIC-resistant. If Litecoin was another SHA-256 coin I don't think it would be where it is today.

Aside from only adding or changing trivial things, the problem with these new coins is they are based on the same code as Litecoin, and being scrypt, as soon as they aren't profitable anymore miners go straight back to LTC.

LTC didn't have to deal with this problem because it was one of the first scrypt coins. And also, there weren't clones being released daily back then. That alone allowed it to grow more naturally like Bitcoin. My point is it is very hard for a lot of these coins to co-exist with LTC around, you will have a very hard time convincing miners to adopt your coin just by changing some parameters around. Simply having faster transaction speeds isn't enough.

Merchants won't adopt a coin on the basis of transaction speeds alone either. I would be extremely skeptical of the security in WDC if only a small % of miners are backing it. I have seen people on here say miners don't matter, which is just ridiculous... in order to prevent attacks you need a large amount of STABLE hash power. Both Bitcoin and Litecoin had a huge amount of miners on-board before anyone started using it in markets.

Thorgrim

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Quote from: Praxis on May 22, 2013, 05:46:43 PM

Quote from: Tittiez on May 22, 2013, 05:44:16 PM

Quote from: erk on May 22, 2013, 05:32:52 PM

Quote from: Tittiez on May 22, 2013, 04:53:29 PM

GeistGeld.

https://bitcointalksearch.org/topic/announce-new-alternate-cryptocurrency-geist-geld-42417

15 second block time.

September 2011.

Experimental currency, read your own link perhaps?

I have already covered this claim in other threads.

I know what GeistGeld is, I'm aware that it was labeled an experiment. A few words doesn't change the fact that it was still done before.

That isn't my point though, my point is that a coin with nothing new has extremely little chance of survival.

I wouldn't say extremely low. Litecoin didn't innovate, but look where it is now.

What Litecoin did was find markets so you can buy and sell with it. That is why it is worth so much compared to all the other Alt-coins and that is why BTC is still worth more then LTC it has a larger marketplace from which to spend your coins.

Everyone seems to be fixated on the technical aspects of the coins but this isn't what is ultimately going to provide lasting value to them. They need to have markets other then just being traded for other crypto-currencies. If that is all they are good for they are speculative value only and their value will go poof as soon as the speculators move onto something new.

BitJohn

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Quote from: JesstersDead on May 22, 2013, 06:32:10 PM

Quote from: BitJohn on May 22, 2013, 06:29:18 PM

Quote from: erk on May 22, 2013, 06:27:07 PM

Quote from: Twerka on May 22, 2013, 06:07:41 PM

You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin.
People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term.

Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC...

Miners generally have no idea what is "profitable" the use sites like Coinchoose to spoon feed them what to mine. However as I have pointed out in the Coinchoose thread, their methodology is flawed, and it is misleading miners.

Quote

That image is still just mining revenue. Volume traded in BTC or USD is essential in letting investors know how their coin is doing. Last trade price is also a dud metric even for miners, you want a weighted average or candlesticks, you need to know the average trades that are going on, not the spot price. Mining has lead times.

I blame the confusing information on CoinChoose for the recent pump and dump by miners of FTC which has caused the coin all sorts of problems. Miners are pool jumping driven by the rapid changes on the site, from a simple change in profitability score, based on some pretty gross assumptions. Just because the spot price on a coin is X, it doesn't mean the miner will be able to sell his coins at that price, the spot price is usually not the same as the weighted average price, and it takes time, hours possibly days, to produce the coins, so by the time he has a salable parcel of coins, the price could have move all over the place. What's worse is without considering the trade volume, the miner is left to think they will always have buyers for the coins, which is often not the case unless they heavily discount, thus proving the profitability rating on CoinChoose to be misleading.

Need I mention that each coin has a different lead time until the next difficulty rate changes. That should be factored into the profitability metric.

https://bitcointalksearch.org/topic/m.2098845

coinchoose is a tool to use but you definitely have to do the math as reporting is way off at times.

Anyone using Coinchoose.com as anything other than a basic tool is doing it wrong. But then, you seem to be playing well ahead of the game John. lol. Was a good call on the early solo mining of WDC on the litebonk forum. Would have over looked it completely had you not said something. But now it's time to get back to paying the 400 dollar monthly electric bill. Blah....

Oh your fine you made the $400 easy in WDC in one afternoon time to pick the next winner

Seriously though I think WDC's time based difficulty adjustment is going to ramp it right back up and up. Digicoin will do the same. Downfall is when its on coinchoose I think some people literally jump back and forth from pools by the minute (making it way unpredictable). Actually there is an app for that now isn't there.

JesstersDead

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I forgot where I put my wallet.dat

Quote from: BitJohn on May 22, 2013, 06:29:18 PM

Quote from: erk on May 22, 2013, 06:27:07 PM

Quote from: Twerka on May 22, 2013, 06:07:41 PM

You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin.
People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term.

Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC...

Miners generally have no idea what is "profitable" the use sites like Coinchoose to spoon feed them what to mine. However as I have pointed out in the Coinchoose thread, their methodology is flawed, and it is misleading miners.

Quote

That image is still just mining revenue. Volume traded in BTC or USD is essential in letting investors know how their coin is doing. Last trade price is also a dud metric even for miners, you want a weighted average or candlesticks, you need to know the average trades that are going on, not the spot price. Mining has lead times.

I blame the confusing information on CoinChoose for the recent pump and dump by miners of FTC which has caused the coin all sorts of problems. Miners are pool jumping driven by the rapid changes on the site, from a simple change in profitability score, based on some pretty gross assumptions. Just because the spot price on a coin is X, it doesn't mean the miner will be able to sell his coins at that price, the spot price is usually not the same as the weighted average price, and it takes time, hours possibly days, to produce the coins, so by the time he has a salable parcel of coins, the price could have move all over the place. What's worse is without considering the trade volume, the miner is left to think they will always have buyers for the coins, which is often not the case unless they heavily discount, thus proving the profitability rating on CoinChoose to be misleading.

Need I mention that each coin has a different lead time until the next difficulty rate changes. That should be factored into the profitability metric.

https://bitcointalksearch.org/topic/m.2098845

coinchoose is a tool to use but you definitely have to do the math as reporting is way off at times.

Anyone using Coinchoose.com as anything other than a basic tool is doing it wrong. But then, you seem to be playing well ahead of the game John. lol. Was a good call on the early solo mining of WDC on the litebonk forum. Would have over looked it completely had you not said something. But now it's time to get back to paying the 400 dollar monthly electric bill. Blah....

BitJohn

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Quote from: Hydroponica on May 22, 2013, 06:30:49 PM

I just about doubled all my WDC profits, in an hour, Thanks guys, lets do this again, real soon Wink

nice!

Hydroponica

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fml

I just about doubled all my WDC profits, in an hour, Thanks guys, lets do this again, real soon Wink

BitJohn

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Quote from: erk on May 22, 2013, 06:27:07 PM

Quote from: Twerka on May 22, 2013, 06:07:41 PM

You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin.
People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term.

Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC...

Miners generally have no idea what is "profitable" the use sites like Coinchoose to spoon feed them what to mine. However as I have pointed out in the Coinchoose thread, their methodology is flawed, and it is misleading miners.

Quote

That image is still just mining revenue. Volume traded in BTC or USD is essential in letting investors know how their coin is doing. Last trade price is also a dud metric even for miners, you want a weighted average or candlesticks, you need to know the average trades that are going on, not the spot price. Mining has lead times.

I blame the confusing information on CoinChoose for the recent pump and dump by miners of FTC which has caused the coin all sorts of problems. Miners are pool jumping driven by the rapid changes on the site, from a simple change in profitability score, based on some pretty gross assumptions. Just because the spot price on a coin is X, it doesn't mean the miner will be able to sell his coins at that price, the spot price is usually not the same as the weighted average price, and it takes time, hours possibly days, to produce the coins, so by the time he has a salable parcel of coins, the price could have move all over the place. What's worse is without considering the trade volume, the miner is left to think they will always have buyers for the coins, which is often not the case unless they heavily discount, thus proving the profitability rating on CoinChoose to be misleading.

Need I mention that each coin has a different lead time until the next difficulty rate changes. That should be factored into the profitability metric.

https://bitcointalksearch.org/topic/m.2098845

coinchoose is a tool to use but you definitely have to do the math as reporting is way off at times.

Topic: So what happened with all the "belief" in WDC? (Read 3555 times)