-- The Riddle of the Twin Brothers - Who Were, Are and Will Rule the World! - page 288.

publicjud

legendary

Activity: 1120

Merit: 1003

twet.ch/inv/62d7ae96

Quote from: FrictionlessCoin on January 15, 2014, 03:47:05 PM

Quote from: publicjud on January 15, 2014, 03:43:05 PM

Quote from: FrictionlessCoin on January 15, 2014, 03:25:10 PM

I did some quick math.

Assuming it costs .11/KwH and 600 watts per 1 TH/s machine. Total electricity costs alone is: 578.56 USD.

I short, the 720 IXC that you mine isn't even going to cover electricity costs!!!

No wonder not many miners are selling their IXC!

And apparently people don't want IXC either because the price is so low.

Well, the hash rate has moved much faster than the price. So right now, it clearly is extremely undervalued.

Of course, I have absolutely no clue what you meant by your statement.

My point is, just saying it cost 100 dollars to make a certain item, does not mean there is a market for item at 100....

If it cost 1million to mine 1 BTC would not make the price of BTC go to 1 million.....

And it could be over supplied as easily as undervalued....

FrictionlessCoin

legendary

Activity: 868

Merit: 1000

Cryptotalk.org - Get paid for every post!

Quote from: publicjud on January 15, 2014, 03:43:05 PM

Quote from: FrictionlessCoin on January 15, 2014, 03:25:10 PM

I did some quick math.

Assuming it costs .11/KwH and 600 watts per 1 TH/s machine. Total electricity costs alone is: 578.56 USD.

I short, the 720 IXC that you mine isn't even going to cover electricity costs!!!

No wonder not many miners are selling their IXC!

And apparently people don't want IXC either because the price is so low.

Well, the hash rate has moved much faster than the price. So right now, it clearly is extremely undervalued.

Of course, I have absolutely no clue what you meant by your statement.

publicjud

legendary

Activity: 1120

Merit: 1003

twet.ch/inv/62d7ae96

Quote from: FrictionlessCoin on January 15, 2014, 03:25:10 PM

I did some quick math.

Assuming it costs .11/KwH and 600 watts per 1 TH/s machine. Total electricity costs alone is: 578.56 USD.

I short, the 720 IXC that you mine isn't even going to cover electricity costs!!!

No wonder not many miners are selling their IXC!

And apparently people don't want IXC either because the price is so low.

FrictionlessCoin

legendary

Activity: 868

Merit: 1000

Cryptotalk.org - Get paid for every post!

I did some quick math.

Assuming it costs .11/KwH and 600 watts per 1 TH/s machine. Total electricity costs alone is: 578.56 USD.

I short, the 720 IXC that you mine isn't even going to cover electricity costs!!!

No wonder not many miners are selling their IXC!

FrictionlessCoin

legendary

Activity: 868

Merit: 1000

Cryptotalk.org - Get paid for every post!

Quote from: ?? on ??

Quote from: FrictionlessCoin on January 15, 2014, 03:11:09 PM

Quote from: VERUMinNUMERIS on January 15, 2014, 03:03:08 PM

I don't understand why it's so hard for people to understand why network security makes or breaks a coin and the fact that any other feature or advantage of a coin can be easily duplicated, copied and implemented by any other coin.

There are absolutely no barriers to copying things like block-time and PoS yet people gamble on CrapCoins based on these useless, easy to copy features while ignoring the most important feature of all and one which is very difficult to copy and implant, and that is the network hashrate which is the security if any coin.

I think right now, crypto-currencies are so new that people have no clue as to how to evaluate it.

Network Hash Rate is almost the equivalent of P/E for stocks. You can compare stocks by looking at their P/E ratio.

Maybe something like price * network hash rate / (# of outstanding coins) should be introduced so people can evaluate cois correctly.

Here's a formula price * network hash rate / (# of outstanding coins) + (coins created per year)

Man, you come up with some brilliant shit.

Bravo!

I'll see if I can put a formula together based on your post to do exactly that, value each coin on its most important feature: its network security.

Yes, please come up with a table for comparison. A lot of people need a lot of hand holding!!

FrictionlessCoin

legendary

Activity: 868

Merit: 1000

Cryptotalk.org - Get paid for every post!

Quote from: VERUMinNUMERIS on January 15, 2014, 03:03:08 PM

I don't understand why it's so hard for people to understand why network security makes or breaks a coin and the fact that any other feature or advantage of a coin can be easily duplicated, copied and implemented by any other coin.

There are absolutely no barriers to copying things like block-time and PoS yet people gamble on CrapCoins based on these useless, easy to copy features while ignoring the most important feature of all and one which is very difficult to copy and implant, and that is the network hashrate which is the security if any coin.

I think right now, crypto-currencies are so new that people have no clue as to how to evaluate it.

Network Hash Rate is almost the equivalent of P/E for stocks. You can compare stocks by looking at their P/E ratio.

Maybe something like price * network hash rate / (# of outstanding coins) should be introduced so people can evaluate cois correctly.

Here's a formula price * network hash rate / (# of outstanding coins) + (coins created per year)

FrictionlessCoin

legendary

Activity: 868

Merit: 1000

Cryptotalk.org - Get paid for every post!

Quote from: ?? on ??

Don't you understand that the block time can be changed with a simple code update?

Don't you understand that PoS can be added to any coin with a simple code update?

If what you say were true, Bitcoin would have updated its code and so would all the other coins like IXC, so this advantage you speak of is a joke as it can be copied anytime by any coin.

But what cannot be copied is the near 9 peta hash of secure mining power. And that is the single biggest need for any coin in order for it to ever be used on a massive scale.

And of course, the economics of it all - 1 Tera hash mines you 1,000 IXC per year while you can buy 7,000 for 1 BTC. In other words, IXC is way cheap now and its value should reflect the necessary resources to mine it.

Merge mining aside of course.

Let's see, let's do the math here, 7 peta hash is 7,000 terahash. A single tera hash miner costs around $6,000. So to mine 1/7,000 of IXC in a year will cost $6,000 worth of mining hardware. Approximately, 5 million coins are mined per year. 5 million / 7,000 - yields 720 coins per 1 THs miner. In short, $6,000 worth of equipment mines you in a year, 720 IXC. At 12 cents a coin, that $6,000 miner will mine $86 worth of IXC in a year!

Vlad, another point that you need to explain to people who aren't familiar with economics it the notion of "bundling". See, people are in the mistaken notion that coins that are merged mine come for free.

This of course is incorrect because you can't get NMC and IXC without actually mining for BTC. The current ROI of miners typically involves the mining of BTC, NMC and IXC combined. Just like you mine copper to get gold, its the same thing. You don't mine IXC by itself, if so, you will go broke trying!

VERUMinNUMERIS

sr. member

Activity: 409

Merit: 252

I don't understand why it's so hard for people to understand why network security makes or breaks a coin and the fact that any other feature or advantage of a coin can be easily duplicated, copied and implemented by any other coin.

There are absolutely no barriers to copying things like block-time and PoS yet people gamble on CrapCoins based on these useless, easy to copy features while ignoring the most important feature of all and one which is very difficult to copy and implant, and that is the network hashrate which is the security if any coin.

FrictionlessCoin

legendary

Activity: 868

Merit: 1000

Cryptotalk.org - Get paid for every post!

Quote from: publicjud on January 14, 2014, 09:51:40 PM

Quote from: ?? on ??

Quote from: publicjud on January 14, 2014, 07:44:37 PM

Vlad2Vlad, you have any Ixcoins to sell a person?

Wait a minute, you wanna buy iXCoin? I thought you were one of the skeptical ones? What made you change your mind?

I'm glad if you changed your mind. I think it's the right choice.

Sorry I can't sell any but you can buy fairly cheap now on cryptsy or vircurex. It's hard to buy larger quantities but like 1 BTC is very doable.

Good luck!

I am skeptical. But the coin is so cheap right now what is there to loose? I see the point you make, but at the same time, I also believe a shorter block time/multi ecrypted coin will take over bitcoin copy cats... I'm still looking for my perfect coin to go all in on....

Vlad... you're the economist.

Can you explain to him that the cost of any scarce good is related to the cost of acquiring (i.e mining) said goods?

publicjud

legendary

Activity: 1120

Merit: 1003

twet.ch/inv/62d7ae96

Quote from: ?? on ??

Quote from: publicjud on January 14, 2014, 07:44:37 PM

Vlad2Vlad, you have any Ixcoins to sell a person?

Wait a minute, you wanna buy iXCoin? I thought you were one of the skeptical ones? What made you change your mind?

I'm glad if you changed your mind. I think it's the right choice.

Sorry I can't sell any but you can buy fairly cheap now on cryptsy or vircurex. It's hard to buy larger quantities but like 1 BTC is very doable.

Good luck!

I am skeptical. But the coin is so cheap right now what is there to loose? I see the point you make, but at the same time, I also believe a shorter block time/multi ecrypted coin will take over bitcoin copy cats... I'm still looking for my perfect coin to go all in on....

publicjud

legendary

Activity: 1120

Merit: 1003

twet.ch/inv/62d7ae96

Vlad2Vlad, you have any Ixcoins to sell a person?

Hippie Tech

legendary

Activity: 1624

Merit: 1001

All cryptos are FIAT digital currency. Do not use.

Quote from: ?? on ??

Quote from: Hippie Tech on January 14, 2014, 03:12:05 AM

Is this really just about the number 9 ?

Has the riddle been answered ? lol

Lol, you know all my threads are bound to go a bit [or a lot] off topic.

We're way passed the number 9 now. We are approaching the Wizard and the Veil of Secrecy. Abc that's when things start to get really interesting.

So yes, the riddle has been answered: IXC is XIC, but now the riddle takes on a new meaning.

Off topic

Who me

You're one to talk ! Cheesy

Most of those off topic posts could have easily been avoided had you not taken so long to get that copy n paste craaap COL client up and running. Grin

I was essentially begging you to take those stanky coins back. heh..

So ... did we do the 'as is above, so is below' in correlation with the numeralogical aspects of the number 9 ?

droptable

sr. member

Activity: 363

Merit: 250

Quote from: SaltySpitoon on October 25, 2013, 01:07:29 AM

Its an octopus. Octopus are known as devilfish. They have 8 legs which was also considered an evil number. The true origin of the number 666 having to do with a Hebrew numerical alphabetical code spelling Nero Caesar. The 666 thing gained ground, after he began in who persecuting Christians, and was thought to be the antichrist. 888 being his predecesor Emperor Claudius. Octopode are cold blooded, and live in the sea. Cathulu being related to the octopus (possibly the father?), "Lives and reigns and conquers the world" which his son takes from him.

The fortune comes in Online Octopus vending, a very lucrative trade, however holding the fortune will be a much greater and painful challenge, because octopus aquarium setups are expensive as hell. In my first setup, cost well over $3k. That and due to their short life expectancies, and amount of work that is required to keep them alive, it will be a painful, yet profitable endevor.

I win.

I love this post. I realy do.
Grin

Hippie Tech

legendary

Activity: 1624

Merit: 1001

All cryptos are FIAT digital currency. Do not use.

Is this really just about the number 9 ?

Has the riddle been answered ? lol

tk808

legendary

Activity: 1512

Merit: 1124

Invest in your knowledge

Quote from: ?? on ??

Quote from: publicjud on January 13, 2014, 10:12:17 PM

Quote from: ?? on ??

PublicJud,

Your example is pointless as there's large pools for scrypt as well and that's always gonna be the case.

But the fact remains that there's way way way more massive hashing power for asics and for merge mined coins which makes those coins (SHA256) much more secure, pools or not.

I'm sure our Frictionless guy can give you a more detailed and technically professional answer to that.

Or MarkM, he's great, but he's a Brit and Brits are sleeping right now.

As I understand it, PoS coin requires a miner to own a certain percent of the coin to have a right to a percent of the mining. So one pool/miner can't just take over 51% of the mining without buying 51% of the coin.

There are all kinds of ways to hijack any coin out there.

Bottom line is: No matter how great a coin is, if the has grate is not very high then that coin is unsecure and therefore it's pointless and useless for any kind of mass adoption.

Satoshi knew what he was doing, and the facts are pretty clear but people push a lot of BS to confuse newbies and to get them to pump the latest Shitcoin.

That said: There are currently only 3 or 4 coins out of some 200 good enough, secure enough and that have been time tested, to be seriously considered by the smart money a coin good enough for mass adoption and for a second ETF license.

And these alt coins are: NameCoin, Devcoin and ixCoin.

NameCoin died unexpectedly last year [and it's a limited in scope coin] so there's no way it will ever be considered for mass adoption so we're down to just 2 real viable contenders and out of the 2 ixcoin is the best choice, in part because DevCoin is much more diluted and is set to print coins forever.

Like I've been saying for 7 months: Ignore the noise from all the ShitCoins, look at what's really important, security, cause most everything else is either just noise or they can be easily tweaked and updated, but the inferior unsecured networks of 99% of the alt coins will never be fixed, at least not in time to make any difference.

Buy your $100 worth of iXcoin while there is still time. I am still shouting from the rooftops but not for much longer.

Yes there is a lot of shit coins, but in some cases there is also great marketing techniques.

Marketing and PR have a lot to do with early adoption, which leads to, mass adoption of y coin.

publicjud

legendary

Activity: 1120

Merit: 1003

twet.ch/inv/62d7ae96

Quote from: ?? on ??

PublicJud,

Your example is pointless as there's large pools for scrypt as well and that's always gonna be the case.

But the fact remains that there's way way way more massive hashing power for asics and for merge mined coins which makes those coins (SHA256) much more secure, pools or not.

I'm sure our Frictionless guy can give you a more detailed and technically professional answer to that.

Or MarkM, he's great, but he's a Brit and Brits are sleeping right now.

As I understand it, PoS coin requires a miner to own a certain percent of the coin to have a right to a percent of the mining. So one pool/miner can't just take over 51% of the mining without buying 51% of the coin.

KeyserSozeMC

hero member

Activity: 742

Merit: 500

I'm dying.

Quote from: ?? on ??

KeizerSoze,

It depends if you believe in God and the Bible.

The bible talks about things like comets hitting the earth. One part talks about a comet which breaks up [in pieces] before it hits, this sparing the earth.

Another verse talks about a mountain on fire hitting the sea. Comets are often compared to mountains and when they enter our atmosphere they would be on fire.

So according to the bible a warning shot is coming and then a real comet will hit but it will hit water not land.

And the riddle gives an example of a father who promised to stone his son for he was evil. But later felt sorry but had to keep his word so he broke the stone into numerous pieces and then threw it at his son, thus keeping his word while inflicting only minor damage to his son.

All hell will break loose on earth eventually and I have a strong feeling it's gonna start soon, like well within our lifetime.

I'm not sure if I believe in ''God". I think I don't believe. ( Hope I wont be judged by anyone, either God, if he exist. I'm sorry God, I have no bad intentions [ Hope he has a internet connection lol])

I'm an agnostic. Not atheist, but agnostic. There is something, which I can admit. Just don't know if I should call it God, universe, form of Energy or anything else.

Whenever I think of Bible, I see our galaxy (universe sounds better, but I don't want to make this post long). 12 Apostles, 12 planets in our solar system. Jesus Chris, the Sun. ( I can keep going, but I don't want to get You bored )

I'm looking at everything from different angles. I agree 99% with all the things You said now (1% goes ty my agnostic ego)
We're nothing than atoms. Atoms have a circle of life. Universe is a clock ( How I see universe )
It could have a malfunction, or it's ''programmed'' to act as it acts.

publicjud

legendary

Activity: 1120

Merit: 1003

twet.ch/inv/62d7ae96

I would love for someone to actually address this...

Anyone of the 5 big bitcoin pools could go rouge and attempt a 51% attack. So while it's true bitcoin has a huge amount of hash, remember most of the hash is controlled by only a hand full of pool operators.

You can see there are about 4 main players in the bitcoin network..... How is that secure again? 4 pools controlling 83% of the hash....

KeyserSozeMC

hero member

Activity: 742

Merit: 500

I'm dying.

Quote from: ?? on ??

Quote from: KeyserSozeMC on January 13, 2014, 09:11:15 PM

A little bit random.. Cheesy

Have You guys heard of ISON (ZION) comet?

Brother, there's no random on any off threads.

You know this. lol.

Comet ison? Yes. Zion? Just the Biblical Zion, but why.

Side note: someone is trying to buy ZionCoin dot com off me but I denied the offer.

He states he's got a team working on the coin planning to launch in 2 months. He offered me $200 and I countered with $100,000 non negotiable. Hahaha! He of course laughed and hinted at me being insane. lol.

Just a little more random. lol.

haha, I said random because I don't believe in randomness Cheesy

( It was a little bit sarcastic Cheesy

)

So, ISON, doesn't have to do with any coin ( no, not ZionCoin ).

ISON is ( was ) a comet which headed towards Sun at 25th of December ( If I'm not right, please correct me, bored to use google)
Astronomers said it's going to be the greatest comet of this century, but.. It burned when it reached the Sun.

After 4-5 days, they confirmed that the comet ISON was dead.

I was curious ( because I'm a paranoid mofo ) and googled it again, today. This is the result I found:

http://www.syracuse.com/news/index.ssf/2014/01/astronomy_expert_meteor_likely_in_upstate_new_york_but_was_it_caused_by_comet_is.html

So, the remains are STILL travelling in our galaxy, in form of dust and ''rocks'' Roll Eyes

( That dust and ''rocks'' are heading to earth )
So, if You watched the video I posted the other day "I pet goat II", You'll remember the scene with the comets.

Thoughts? ( in general )

KeyserSozeMC

hero member

Activity: 742

Merit: 500

I'm dying.

A little bit random.. Cheesy

Have You guys heard of ISON (ZION) comet?

Topic: -- The Riddle of the Twin Brothers - Who Were, Are and Will Rule the World! - page 288. (Read 382317 times)