The Bitcoin reward halving will affect ALT coins how?

dancupid

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Quote from: CoinHoarder on November 28, 2012, 11:47:35 AM

My opinion:

The BEST thing to EVER happen for ALT coins is... the Bitcoin reward halving.

1. The Bitcoin reward just got halved, making it unprofitable for most miners using GPUs.
2. Most former BTC GPU miners will be looking for a way to keep mining.
3. Most will find an ALT coin they like and start mining that.
4. This will introduce a lot more volume and users into the ALT coin economy.
5. More stores will start supporting ALT coins because there are more people that use them.
6. I expect one or two alt coins to really take off in 2013 with this extra boost, similar to Bitcoin, with many improvements across the table (miners/protocol/usability/exchange rate).
7. Expect the need for sub-forums in Alternate Cryptocurrency forum soon!

EDIT: Changed the name of thread

If loads of miners jump into mining alt coins won't that make it equally unprofitable, as the difficulty rapidly increases and the price stays the same? The price is unlikely to follow the new difficulty. The number of coins will be the same.
There will be no new volume, just more people desperate to sell their fewer mined coins. Who will buy them? People with bitcoins?
Why would someone sell bitcoins for an alt coin when the inflation rate has just halved compared with the rapidly inflating alt coin?
The current owners of bitcoins own over half of all possible bitcoins - why sell them for a tiny stake in something that almost certainly will fail (most of these alt coins will fail - maybe one can have some success - but the space of possible alt coins is infinite, and each new alt coin muddies the waters even more)

Icoin

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Please consider to p2pool merged mine sha256 based https://bitcointalksearch.org/topic/a-complete-guide-to-p2pool-merged-mining-btcnmcdvcixci0c-plus-ltc-linux-62842.

NMC
DVC
IXC
I0C
SC
PPC
LTC
GPC
CCC
TRC

What ever chain(s) it will be, that dosent mather

Liquid

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Crypto Somnium

I want the following coins to succeed

BTC
LTC
PPC
TRC

That is all Cheesy

Other coins

DEV
IO

FuzzyBear

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Quote from: Nolo on November 29, 2012, 12:18:29 AM

Quote from: smoothie on November 29, 2012, 12:05:46 AM

Quote from: Nolo on November 28, 2012, 09:25:29 PM

Now TRC difficulty has hit 3589.4. I knew that was going to happen when all you big BTC gpu hogs jumped on this little coin... Shocked

The Retarded Coin Cheesy

lol oh you.... Grin

hehe so if trc takes off will it have to be renamed NTRC = not the retarded coin?

Nolo

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Whoa, there are a lot of cats in this wall.

Quote from: smoothie on November 29, 2012, 12:05:46 AM

Quote from: Nolo on November 28, 2012, 09:25:29 PM

Now TRC difficulty has hit 3589.4. I knew that was going to happen when all you big BTC gpu hogs jumped on this little coin... Shocked

The Retarded Coin Cheesy

lol oh you.... Grin

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: Nolo on November 28, 2012, 09:25:29 PM

Now TRC difficulty has hit 3589.4. I knew that was going to happen when all you big BTC gpu hogs jumped on this little coin... Shocked

The Retarded Coin Cheesy

Nolo

hero member

Activity: 686

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Whoa, there are a lot of cats in this wall.

Now TRC difficulty has hit 3589.4. I knew that was going to happen when all you big BTC gpu hogs jumped on this little coin... Shocked

ElectricMucus

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Marketing manager - GO MP

Quote from: casascius on November 28, 2012, 03:14:37 PM

Bitcoin is gold and Litecoin is its silver?

Bitcoin is the lion king, and Litecoin and Peepeecoin are the gazelles and zebras of the forest. Ixcoin, i0coin, solidcoin, terracoin and such are the rabbits, mice and cockroaches of the cryptocurrency animal kingdom. All of these subordinate creatures serve as pawns to serve the kingdom of the master Lion, such as to be the guinea pigs for debugging and observing the outcome of catastrophic failure scenarios like 51% attacks, flooding, transaction spam, etc.

If choice meat becomes out of reach, the suggestion of this thread is that it's time to downgrade the dinner. Less predator, more prey. Hakuna matata!

Ever heard of lions feeling threatened by gazelles? I don't.... But I suppose you do otherwise why did you come up with this analogy?
Know of any predetor evolved before its prey? I don't either...

I'm disappointed in you. Or did we fall victim to Poe's Law?

casascius

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The Casascius 1oz 10BTC Silver Round (w/ Gold B)

Bitcoin is gold and Litecoin is its silver?

Bitcoin is the lion king, and Litecoin and Peepeecoin are the gazelles and zebras of the forest. Ixcoin, i0coin, solidcoin, terracoin and such are the rabbits, mice and cockroaches of the cryptocurrency animal kingdom. All of these subordinate creatures serve as pawns to serve the kingdom of the master Lion, such as to be the guinea pigs for debugging and observing the outcome of catastrophic failure scenarios like 51% attacks, flooding, transaction spam, etc.

If choice meat becomes out of reach, the suggestion of this thread is that it's time to downgrade the dinner. Less predator, more prey. Hakuna matata!

FuzzyBear

legendary

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ok coinotron is seeing an extra 100GH on the site.. and bitcoin mining has dropped from 60Ghash to 9GH!! so yes people have already switched!! and PPC was at 13GHash on there 2 days ago.... big miners switching it would seem

   Speed   Miners   Round   Exchange   Diff.   Int   AMD   Nv   Ati
BTC    9.5 GH   21   15 h    1.00000   3438909.0   ---   ---    1.00    1.00
PPC    137.1 GH   59   0:2 h    0.00028    18980.1   ---   ---    1.74    1.74
LTC    151.9 MH   170   0:28 h    0.00586    19.8   ---   ---    2.04    2.21
TRC    16.9 GH   27   0:1 h   ---    891.1   ---   ---   ---   ---
Total:    315.4 GH   284

FuzzyBear

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Quote from: Nolo on November 28, 2012, 02:45:15 PM

Quote from: CoinHoarder on November 28, 2012, 01:52:50 PM

Quote from: Nolo on November 28, 2012, 01:44:18 PM

Mostly it's wanting. Grin

But in seriousness, TRC is so similar to BTC, with a few minor tweaks (which I consider improvements), most of the infrastructure that already exists for BTC could easily be adapted for that of TRC.

You do have a point, that is one good thing about Terracoins.

The only thing that scares me about them is at this point the network is somewhat slow. All it would take would be someone with a shiny new BFL SC Mini Rig to do a 51%. With scrypt, that is at least not possible (with ASICs or as easily... it would require a shit ton of gpus or a botnet).

I believe what is keeping the TRC network so low is the lack of a public exchange. People primarily mine to make money. If they can't easily exchange the coins they are mining, then why should they mine?

So it's one of those which came first, the chicken or the egg type of arguments. Exchanges don't typically like to add coins until their is a significant demand, and miners don't like to devote large amounts of hashing power to coins unless there is an exchange.

you can exchange here TRC for PPC http://exchange.zapto.org/ccexchange/4-5

Nolo

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Whoa, there are a lot of cats in this wall.

Quote from: CoinHoarder on November 28, 2012, 01:52:50 PM

Quote from: Nolo on November 28, 2012, 01:44:18 PM

Mostly it's wanting. Grin

But in seriousness, TRC is so similar to BTC, with a few minor tweaks (which I consider improvements), most of the infrastructure that already exists for BTC could easily be adapted for that of TRC.

You do have a point, that is one good thing about Terracoins.

The only thing that scares me about them is at this point the network is somewhat slow. All it would take would be someone with a shiny new BFL SC Mini Rig to do a 51%. With scrypt, that is at least not possible (with ASICs or as easily... it would require a shit ton of gpus or a botnet).

I believe what is keeping the TRC network so low is the lack of a public exchange. People primarily mine to make money. If they can't easily exchange the coins they are mining, then why should they mine?

So it's one of those which came first, the chicken or the egg type of arguments. Exchanges don't typically like to add coins until their is a significant demand, and miners don't like to devote large amounts of hashing power to coins unless there is an exchange.

jasinlee

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Its as easy as 0, 1, 1, 2, 3

Devcoins and LTC are the two I would be leaning toward, LTC due to adoption already begun, and DVC due to the awesome projects they fund/back and the fact that there are plenty of developers supporting it and having the bitcoin "dust" eliminated is kinda nice too.

CoinHoarder

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In Cryptocoins I Trust

Quote from: Nolo on November 28, 2012, 01:44:18 PM

Mostly it's wanting. Grin

But in seriousness, TRC is so similar to BTC, with a few minor tweaks (which I consider improvements), most of the infrastructure that already exists for BTC could easily be adapted for that of TRC.

You do have a point, that is one good thing about Terracoins.

The only thing that scares me about them is at this point the network is somewhat slow. All it would take would be someone with a shiny new BFL SC Mini Rig to do a 51%. With scrypt, that is at least not possible (with ASICs or as easily... it would require a shit ton of gpus or a botnet).

Nolo

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Activity: 686

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Whoa, there are a lot of cats in this wall.

Quote from: FuzzyBear on November 28, 2012, 01:28:08 PM

Quote from: Nolo on November 28, 2012, 01:14:59 PM

Quote from: CoinHoarder on November 28, 2012, 11:47:35 AM

My opinion:

6. I expect one or two alt coins to really take off in 2013 with this extra boost, similar to Bitcoin, with many improvements across the table (miners/protocol/usability/exchange rate).

I vote Terracoins

I'd like to see Terracoin take off to as i have a nice little hoard of them, or PPC for that matter.... but TRC is such an early stage and difficulty is very low relatively that it is VERY vulnerable to 51% attack, so TRC network could do with a few big miners to take a chance on the coin and see what happens... i saw the difficulty drop to 700ish this week to.... and been up at 9000 at one point ... so lot of variation there to.... PPC has seen a few difficulty bubbles but a general slow and steady rise has seen PPC along with its proof of stake element really take off and give the currency credibility as it is different from BTC... TRC is VERY similar to BTC, and although it offers nothing really new... would be easier to get joe public interested in this coin if they have BTC already....

but why u think TRC will be the one? ... or u just WANT TRC to be the one?? Tongue

Mostly it's wanting. Grin

But in seriousness, TRC is so similar to BTC, with a few minor tweaks (which I consider improvements), most of the infrastructure that already exists for BTC could easily be adapted for that of TRC.

FuzzyBear

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Quote from: CoinHoarder on November 28, 2012, 01:34:50 PM

Quote from: Nolo on November 28, 2012, 01:14:59 PM

Quote from: CoinHoarder on November 28, 2012, 11:47:35 AM

My opinion:

6. I expect one or two alt coins to really take off in 2013 with this extra boost, similar to Bitcoin, with many improvements across the table (miners/protocol/usability/exchange rate).

I vote Terracoins

I'd prefer that the coin with the best and most active developers be the coin that most people back. I hope people do not vote with their wallet which coin will be the next big hit. An alt coin could be the best ALT coin idea in existence, but if it doesn't have the developers/community to support and upgrade it, it is destined to die like the many others that have come before it. In my opinion LTC or PPC, in that order, has the best development team and community.

yeah i agree with u here completely, but i feel that there will be a LOT of voting with wallet balances... but i hopefully will be proved wrong... being a developer myself, i am looking at the alt-coins a ot and the clients and updates / new developments and its really quite shocking how bad a condition some of the altcoins are left in... LQC and I0C in particular... but hopefully i'll be able to get my head round some more of the code and at least bring these clients uptodate and better doccumented, but there is some way to go as i very busy and only sooo good at coding Sad

CoinHoarder

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Quote from: Nolo on November 28, 2012, 01:14:59 PM

Quote from: CoinHoarder on November 28, 2012, 11:47:35 AM

My opinion:

6. I expect one or two alt coins to really take off in 2013 with this extra boost, similar to Bitcoin, with many improvements across the table (miners/protocol/usability/exchange rate).

I vote Terracoins

I'd prefer that the coin with the best and most active developers be the coin that most people back. I hope people do not vote with their wallet which coin will be the next big hit. An alt coin could be the best ALT coin idea in existence, but if it doesn't have the developers/community to support and upgrade it, it is destined to die like the many others that have come before it. In my opinion LTC or PPC, in that order, has the best development team and community.

FuzzyBear

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Quote from: CoinHoarder on November 28, 2012, 01:25:20 PM

Quote from: FuzzyBear on November 28, 2012, 12:59:09 PM

Quote from: Greedi on November 28, 2012, 12:38:41 PM

Quote from: CoinHoarder on November 28, 2012, 11:47:35 AM

7. Expect the need for sub-forums in Alternate Cryptocurrency forum soon!

We already have LitecoinTalk

and ppcoinTalk

http://ppcointalk.org

Yes, I go to both ppctalk and litecointalk almost daily, but you have to admit there is much more traffic and people to debate/whatever with over here.

Also, btctalk is a good avenue to increase adoption of alternate crypto currencies like ppc and ltc. Bitcoin users are exponentially more likely to try out an ALT coin than someone that's never heard of crypto currencies.

+1 for u for visiting the forums daily

but yeah agreed there is sooooo much more traffic on here, and its here where the coins are discussed... hence my list of links back to forum topics on the sites page of PPCointalk where people have discussed thinks like proof of stake etc....

FuzzyBear

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Quote from: Nolo on November 28, 2012, 01:14:59 PM

Quote from: CoinHoarder on November 28, 2012, 11:47:35 AM

My opinion:

6. I expect one or two alt coins to really take off in 2013 with this extra boost, similar to Bitcoin, with many improvements across the table (miners/protocol/usability/exchange rate).

I vote Terracoins

I'd like to see Terracoin take off to as i have a nice little hoard of them, or PPC for that matter.... but TRC is such an early stage and difficulty is very low relatively that it is VERY vulnerable to 51% attack, so TRC network could do with a few big miners to take a chance on the coin and see what happens... i saw the difficulty drop to 700ish this week to.... and been up at 9000 at one point ... so lot of variation there to.... PPC has seen a few difficulty bubbles but a general slow and steady rise has seen PPC along with its proof of stake element really take off and give the currency credibility as it is different from BTC... TRC is VERY similar to BTC, and although it offers nothing really new... would be easier to get joe public interested in this coin if they have BTC already....

but why u think TRC will be the one? ... or u just WANT TRC to be the one?? Tongue

CoinHoarder

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In Cryptocoins I Trust

Quote from: FuzzyBear on November 28, 2012, 12:59:09 PM

Quote from: Greedi on November 28, 2012, 12:38:41 PM

Quote from: CoinHoarder on November 28, 2012, 11:47:35 AM

7. Expect the need for sub-forums in Alternate Cryptocurrency forum soon!

We already have LitecoinTalk

and ppcoinTalk

http://ppcointalk.org

Yes, I go to both ppctalk and litecointalk almost daily, but you have to admit there is much more traffic and people to debate/whatever with over here.

Also, btctalk is a good avenue to increase adoption of alternate crypto currencies like ppc and ltc. Bitcoin users are exponentially more likely to try out an ALT coin than someone that's never heard of crypto currencies.

Topic: The Bitcoin reward halving will affect ALT coins how? (Read 2360 times)