Topic: -- The Riddle of the Twin Brothers - Who Were, Are and Will Rule the World! - page 289. (Read 382317 times)

Decentralized crypto currencies like Bitcoin gain their security by the number of participants that are mining the coin.

Just because you have a more complex proof of work algorithm like scrypt or secure coin ( 7 different hashes ) does not make it more secure if you don't have a lot of miners mining the coin.  

Bitcoin gains its value on what is called Metcalfe's Law,  wherre the utility of the network grows with the square of the number of users.   As more miners join Bitcoin mining becomes more secure.

That is what you just don't understand

(1) Fast block rates make a network less secure.
(2) Harder Proof of Works schemes like Scrypt, Scrypt_Jane, Chains of different hash functions,  Memory hard schemes only change the nature of the machines that mine the coin,  but you still need a lot of miners to secure a coin.  With Bitcoin (an iXcoin), you not only need a lot of miners,  you need very expensive miners.  

You have banking friends?

I worked in banking 10 years and I don't have rich banking friends.  lol.

But yes, it's so hard to accumulate iXcoins that if anyone wanted even a few % it wound sky rocket.

You should at least point then toward it and let then choose.  Reason is that there's a lot of confusion now with so many CrapCoins but if anyone with the know-how looks at ixCoin it will become obvious.

And I am dead serious about an ETF license. But first it has to hit roughly $10 cause if it doesn't do that then I'll admit all my theories are crazy and everyone was right about me being insane.

But you gotta think about it from the point of view of hedge funds cause that's who's coming in the next few months.  These guys look for what sells then look to duplicate it and in that regard, like in getting another ETF going, iXCoin is hands down the best choice.

Cause if Wall Street doesn't see this, and presuming iXcoin goes to at least $10 the way I expect, I will not wait for Wall Street, I will take xCoin to them.  I am already talking to someone in the business about possibly applying for an ETF license in the near future.  Only problem is that it's $1 million fee so I need iXcoin to at least hit $10.

Buy it.  Bank on it.

Okay, a few more concerns I was wondering about.

What happens if Bitcoin becomes massively unpopular? Like say, for whatever reason, people decided Bitcoin was too inflexible, and decided to move to a new currency, and this new currency wasn't ixcoin. Wouldn't the network hashrate drop significantly, and the network would then be massively insecure? At this point, wouldn't a coin such as Securecoin do a better job at protecting itself, as it would be difficult to have many computers attacking its multiple hashing algorithms?

A) sorry, not sure why I thought you posted comparisons to DGC.

B) regardless which coin you prefer or call superior, the same argument stands and actually, DGC is one of the better coins out there but it fails and is inferior to IXC for reasons I have already mentioned.

Merged mining isn't that easy.  Other coins have tried and failed miserably.  For example:  i0Coin was a clone of iXcoin yet it did not respond well to merge mining and as a result it died 3 times.

And it would take some time to build up to a 7 PETA hash network and it would take a lot longer to fine tune the code to ensure stability as most coins would fork or die when adding massive hashes all at once.

So why would you as an investor or say a banker risk big money on a maybe when you have a 3 year old coin doing it perfectly with a fully intact blockchain and with a coin that has never died and has stood the hardest test of all:  the test of time.  Cause even the great Namecoin unexpectedly failed that test when it died late last year.

So iXcoin is quickly becoming one of a kind, the only one of its kind, standing [alone] against bitcoin with all the benefits but none of the stigma and no bureaucracy.

Just like Bitcoin, once the mining is over miners will get paid transaction fees.  But also there's a Blackdoor out.  If that's not enough it would be easy to add some small additional coins which miners can mine.

Finally, the 10 minutes, as Friction pointed out above, is perfect but if 1 minute were a better idea it would also be an easy fix with a code update.

So all of your issues with IXC are easily fixable if they were really a problem but what's not fixable with 99% of the coins out there, including your favorite coin, is the weak, inferior and insecure network which guarantees that nobody will ever adopt that coin on any massive scale.  

And that's a problem which cannot be easily fixed with a code update.

I recommend you buy some IXC and hold, cause time is running out.

Vlad is correct that the number one priority of a crypto-currency is to ensure security.  Satoshi Nakomoto did choose to have 10 minutes per block because he believed that its should be fair for all participants of the network to see all transactions propagate to all participants prior to the creation of a new block.   By going with a 1 minute block rate, one risks an uneven creation of blocks reserved for only those miners that happen to be in close proximity to each other.

The issue of fast confirmation times are really the domain of gateways like Open Transactions and Ripple like systems.   In fact, the micro transactions implementation of Bitcoin works in this manner.    Fast confirmations creates for more insecure block chains.  Furthermore, people who say it is necessary for any real payment technology are completely clueless.  Bitcoin already has what is called green addresses, in fact,  if you send a transaction using Coinbase to another user who also happens to use Coinbase,  the confirmation is almost instantaneous.

Anyway,   the crypto-currency investors are littered with absolutely clueless people.  

This thread is full of accurate derp. It is accurate only because people choose to pretend it is possible to live on the back of another for long. It is derp for not seeing this as the source of problems. Keep cranking the hype machine.

It's OK, though.

Some of us have broken this puzzle, several times in fact.

I'll give you all a hint.

What can the poor schmuck with few resources do to match the influence of a wealthy player?

The poor schmuck can move money back and forth faster resulting in the same influence, theoretically, but often needs some help from those like himself. Also requires a shitload more research.

The system will meet its match.

You're saying better technologies should and do win and take over.  Then you go on to say technologies or coins like DGC are better than IXC.

lol, to that I have to laugh.  Try putting a couple Tera Hash on DGC at one time to see how many times it forks and dies.  Try doing that with 99% of the supposed superior alts out there.

Secondly, you do know this Crypto technology is all about security and securing the blockchain, right?  That is the number 1 goal for this new technology cause without high security all your wealth is worthless.

That said, do you really think DGC or any other New CrapCoin which has come out in the last 6 months, like DGC, is anywhere even close to IXC?

Thirdly, speaking of better technology:  how long and how hard has DGC been tested?  Oh, 6 months?  And how many times has it seen being hit with massive Tera Hash [let alone PH] of mining power and not cave in, fork or die?

lol, so basically DGC and 99% of these supposed superior coins have never been tested, not by time and not by any real hash power so then not only are they inferior technology to ixCoin but they're also a massive risk since nobody knows what will happen 2 years from now or if these CrapCoins will ever even be secure enough to be able to be used on any global scale.

So you're right, the better technology will and should win and take over but you obviously haven't done any research if you fail to see you've invested in the most unproven, immature and weakest of technologies.

As for the religious observations:  are they not there in plain sight?  Perhaps you like to ignore obvious things like Network Security, mature proven technology, scalable networks and other crucial aspects of this new industry but I for one look at everything, no matter how small and I take it all into consideration.

Good luck with DGC and its community.  Maybe when it forks or dies or fails to secure your life savings you all can get together with a community organizer and continue lying to each other why your inferior technology is not defunct.

BTW, 3 months ago when DGC was at half of 1 penny I gave it my professional upgrade with a $1-$3 price target and I said it would happen in 2014.  I was called crazy but even though DGC is inferior to IXC I still expect it to hit my target this year and it already did hit $.74.  

But I'm not interested in $3, nor am I interested in just $1 million.  What I'm after is much much more on various levels and to get that one has to find the next global currency and from what I see, iXcoin is hands down the best alt coin for the job.  And the best part is that I will be a hero or a fool in a matter of 2-3 months.  Please do come back then regardless if I'm right or wrong.

Godspeed!

Crazy thread?

Is that a compliment, brother?

It popped up to the top of your list cause the crazy OP is back from his crazy Transylvania vacation so he can now continue posting his madness with renewed angst and vigor from the fresh blood he undoubtably gorged on out there.

Right on Vlad.  Maybe Friction can add to this cause he really understands this tech.

But it's shocking to see how many people have no idea what this technology is and what makes it better than the next crypto.  It's shocking to see the masses pile into an inferior CrapCoin which has not been time tested nor does it have the current or the possible future secured network withouth which no crypto can ever really make it while they put their money into a completely unproven crypto, which, like you said, would fork, die or simply not be able to add the necessary hash rate to ensure security on a massive scale.  

99% of all the CrapCoins out there have absolutely not chance at ever being a major player regardless of their services and community simply because they do not now not will they ever have a secure network like Bitcoin or iXcoin.  When people finally understand this simple fact they will abandon all those coins and pile into coins like iXcoin.

And maybe you're right, Vlad, maybe it will take the smart money, Wall Street, to show everyone where to invest cause it doesn't seem the masses really get it even though it's fairly simple to understand.

Finally, thanks for all your observations, Vlad, even the religious ones.  I like to see all the information and I will choose what's best for me and my money.  Please continue pointing out anything you see - even if it's a crazy coincidence.  Some of the greatest findings in the world have been just that.  

Brother, are you the guy from across the Danube?  Did you buy any IXC at half a penny back then when I urged you to?  You said you would so I hope you did and I hope you haven't sold yet cause this thing is just getting started.  

And yes, I own 3% and I have not sold a single coin.

Good luck!

probably, likely using your DNA as a key, with some device inserted into your body...
there must be more money to be made writing a good script for a movie than hanging around this board