Topic: Wanted: Mining pool to take out alt block chains - page 4. (Read 4955 times)
TheButterZone... what are you speaking about? Mining Litecoins with gpu is more profitable than mining bitcoins since months. So what are you speaking about worthless coins?
This post reminds me why witch burning happened.
No. One is judgement dictated by fear and ignorance. The other are empirically large-lipped, profit hungry memes trying to suck the goodwill out of something relevant.
I concur with Luke-Jr that LTC are "scamcoins". When you have to buy other people's scamcoins with PayPal to get enough scamcoins to trade for BTC and just barely break even on it all, if not lose money... fuck it.
I would argue that "attacking" alts in order to maintain cryptocurrency monopoly would be more harmful than leaving alts to their own devices, in terms of attracting bad PR and generally making cryptocurrency seem immature and potentially dangerous (more so than people already believe).
I concede this is a valid point.
This post reminds me why witch burning happened.
Maybe I'm hanging out with different people, but no one I've ever told about bitcoin has ever asked about creating an alternative. And the easy answer is that like any industry, there is no reason not to make an alternative, coke has its pepsi, mcdonalds has its burger king, et has its cetera. They can both do well, and the mainstay will usually have superior standing simply by having been first, or more established, rather than by being better necessarily.
The question I get asked is the flip, when talking about alt currency, most people ask "what's the point of this?" and that's the real question, until alts offer some real benefits (differences in mining rates don't really count except to miners) they aren't much threat.
I would argue that "attacking" alts in order to maintain cryptocurrency monopoly would be more harmful than leaving alts to their own devices, in terms of attracting bad PR and generally making cryptocurrency seem immature and potentially dangerous (more so than people already believe).
The question I get asked is the flip, when talking about alt currency, most people ask "what's the point of this?" and that's the real question, until alts offer some real benefits (differences in mining rates don't really count except to miners) they aren't much threat.
I would argue that "attacking" alts in order to maintain cryptocurrency monopoly would be more harmful than leaving alts to their own devices, in terms of attracting bad PR and generally making cryptocurrency seem immature and potentially dangerous (more so than people already believe).
Litecoin for example has another hashing algo so that it isnt really in concurrence to bitcoin. And why shouldnt there be alts? They mostly dont get real value and sane miner should carefully think about hashing them. so why do you want to play mommy and forbid miners their own decisions?
Anyway... i think very few share your opinion.
Anyway... i think very few share your opinion.
A threat?
I'm not going to waste my words before you explain why you think that
I'm not going to waste my words before you explain why you think that
...
Remember, $120MM marketcap is not very much. When we reach $1B, sophisticated people will create serious alternatives. If future threats realize they will be wiped out by BTCGuardian pool (or whatever), they will embrace bitcoin instead.
...
Do you really know when we are going to the BTC cap?
Also--
We don't need a monarchy, and most of the alts are just speculation, most of them break, SolicCoin and LiteCoin are the most relevant today IMO, and they worth less than 1 penny of BTC.
Having alts isn't a "threat" to BTC, it only makes more money flow, since most of the alt are exchanged to BTC.
i.e. increases BTC float and makes it not deflationary. Please read my reply.
A threat?
I'm not going to waste my words before you explain why you think that
I'm not going to waste my words before you explain why you think that
...
Remember, $120MM marketcap is not very much. When we reach $1B, sophisticated people will create serious alternatives. If future threats realize they will be wiped out by BTCGuardian pool (or whatever), they will embrace bitcoin instead.
...
Do you really know when we are going to the BTC cap?
Also--
We don't need a monarchy, and most of the alts are just speculation, most of them break, SolicCoin and LiteCoin are the most relevant today IMO, and they worth less than 1 penny of BTC.
Having alts isn't a "threat" to BTC, it only makes more money flow, since most of the alt are exchanged to BTC.
A threat?
I'm not going to waste my words before you explain why you think that
I'm not going to waste my words before you explain why you think that
You just did.
When you tell people about bitcoin, most ask... why doesn't someone with money/power just create an alternative? Well... they have, and some are starting to get momentum with only minor changes. Some don't even bother to change the code at all.
Remember, $120MM marketcap is not very much. When we reach $1B, sophisticated people will create serious alternatives. If future threats realize they will be wiped out by BTCGuardian pool (or whatever), they will embrace bitcoin instead.
Also--
I would take this a step further and say, that with so many alts floating around, Bitcoin isn't really deflationary. New alt coins arrive and suck away some the fiat/hash power that would normally go to BTC.
Let's raise the barriers of entry and protect bitcoin from these unimaginative clones. At the very least, it will force alts to do something drastically different.
A threat?
I'm not going to waste my words before you explain why you think that
I'm not going to waste my words before you explain why you think that
They are a significant threat to Bitcoin... now and definitely going forward.
Are trying to remove the alt crypto-currencies?
WTF
Just to start a discussion that probably will never end, I ask, why?
WTF
Just to start a discussion that probably will never end, I ask, why?
Not sure how it would work, but perhaps it mines BTC, then switches over as the owner identifies assailable targets. Ideas welcome.
*Please don't move this thread to alternate cryptocurrencies. It's not welcome there.*
If someone is smart enough to create a mining pool to take out alt coins I will gladly donate my GPU/CPUs... especially when asics arrive.
If someone is smart enough to create a mining pool to take out alt coins I will gladly donate my GPU/CPUs... especially when asics arrive.
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