Topic: [XPM] Why Primecoin Price Has Bottomed Out (Read 8980 times)
Is it dead yet?
Pretty sure that the GPU miner for Primecoin won't be any faster. It's finding prime numbers, using basic arithmetic. This is what CPUs excel at.
That's still theory, Litecoin at the beginning also was thought to be exclusive to CPU only.
Its really not about doing the same type of math "faster" as it is about the fact that a GPU has around 1200 processors on it while a normal cpu as 2-8 (perhaps 4 - 16 if you count hyperthreading), so if the code can be ported to a gpu it can run (in theory) 1200 tries in parallel vs 1-7 (or 3-15, for a cpu using OpenCL commands once of the processors acts as the 'host' the rest act as the 'device' and the host coordinates the tasks for the device, with a gpu card the processor needs to only use one core to tell the gpu's 1200 or so processors what to do. The speed up should come from the greater number of threads being run at the same time. of course there are a lot of optimizations that could be done to that code to potentially make it run faster as well.
It really dropping a lot now, though that is largely due to BTC surging. Still, even against the USD it has dropped from 0.70 to 0.50 XPM/USD.
It's not just finding prime numbers 
yep, you need to apply some basic arithmetics also like pow(n,2)-1 and pow(2,n,m)wow
Well, I really don't see how a GPU would possibly be faster at that type of math, but OK.
A lot of people use GPUs to find prime numbers: http://www.mersenneforum.org/forumdisplay.php?f=92
It is a PUMP preparation! Dont worry!
We will wait for further developments
It is a PUMP preparation! Dont worry!
And the cycle repeats itself and continues going down @ 0.00669
I think the new bottom now
I agree with you. It was and still is being over hyped.
However I am enjoying the large price fluctuations.
It has been quite profitable for me to buy when everyone panics and sell when the price goes up.
Long term it will succeed in my opinion. Is there any need or use for it?
Nope.
However I am enjoying the large price fluctuations.
It has been quite profitable for me to buy when everyone panics and sell when the price goes up.
Long term it will succeed in my opinion. Is there any need or use for it?
Nope.
So do you think the price has bottomed out or has it not?
I agree with you. It was and still is being over hyped.
However I am enjoying the large price fluctuations.
It has been quite profitable for me to buy when everyone panics and sell when the price goes up.
Long term it will succeed in my opinion. Is there any need or use for it?
Nope.
Yet when someone comes out with a Primecoin payment plugin I will be taking it as payment.
Why? The fact that it has no use is not relevant. Other people give it value.
All that matters is I continue to make profits with it.
However I am enjoying the large price fluctuations.
It has been quite profitable for me to buy when everyone panics and sell when the price goes up.
Long term it will succeed in my opinion. Is there any need or use for it?
Nope.
Yet when someone comes out with a Primecoin payment plugin I will be taking it as payment.
Why? The fact that it has no use is not relevant. Other people give it value.
All that matters is I continue to make profits with it.
How deep could this thread go before someone points out that there's no use for the coin?
Yes but that's not a use for the COINS.
Mathematicians may run primecoin for the fun of it, or for scientific value.
Miner, traders, and normal people are going to stop running it at some time if there's never any use for the coins it generates.
Mathematicians may run primecoin for the fun of it, or for scientific value.
Miner, traders, and normal people are going to stop running it at some time if there's never any use for the coins it generates.
Same holds true for Litecoin, I see hardly any site accepting Litecoin. But does that mean people stop mining Litecoin? The opposite is true.
This whole cryptocoin thing is currently created and supported by miners-speculators, mostly.
The question of price, which this thread is about, is not determined by utility (the usefulness of the coin) but rather, the economical movements.
I didn't read all of this but I know the reasons. Mcxnow hold the xpm market. Big players there knew the price could be moved down so did so for a scare, buy up and dump on othrr exchanges that didn't yet move. That brought it from a stable .012 area to .008. Then mcxnow offered fee shares as stocks and a lot of people cashed out xpm to buy shares causing the drop to .006s. Its been holding since. Scaring doesn't detract buyers from scoping up at the current price so its been sustaining even the large 10k dumps.
How deep could this thread go before someone points out that there's no use for the coin?
That's not true!Litecoin, and other scrypt coins are absolutely useless.
Primecoin finds prime numbers, which can be useful for science. It also verifies blocks faster than SHA.
Yes but that's not a use for the COINS.
Mathematicians may run primecoin for the fun of it, or for scientific value.
Miner, traders, and normal people are going to stop running it at some time if there's never any use for the coins it generates.
How deep could this thread go before someone points out that there's no use for the coin?
That's not true!Litecoin, and other scrypt coins are absolutely useless.
Primecoin finds prime numbers, which can be useful for science. It also verifies blocks faster than SHA.
Even though I agree with you in spirit, I highly doubt this coin is going to prove useful to science. It isn't even finding the largest prime numbers, FYI. It's finding prime numbers. Period. It can be used in several places, but hardly for the advancement of science.
How deep could this thread go before someone points out that there's no use for the coin?
That's not true!Litecoin, and other scrypt coins are absolutely useless.
Primecoin finds prime numbers, which can be useful for science. It also verifies blocks faster than SHA.
How deep could this thread go before someone points out that there's no use for the coin?
Who-who hold the horses. So you have an insane potential audience for a promotion campaign but have no vested intrest in Bitcoin so you wont do it. Then you say that you were on to Primecoins from the very first day, you create this thread and well... could it be that you will launch a campaign for Primecoins instead? I hope you wait untill the hashrate is sky high before you do it. Also please PM before you start 
. Kidding aside, I do agree with you. I look at all of these coins not as the future, but as the beginning. Far to many people get trashed by pump n dumps and well, in my opinion these coins here are about something much bigger then that.
For the record, I was also mining Primecoin from day one. Been a Litecoin miner before that and own some Bitcoins as well. Besides those I dont find any other coins interesting. However, if an Asic proof coins comes along that integrates Zerocoin I will be buying like mad.
By comparison, Litecoin was only worth 2cents when it started, Primecoin started with 70cents.
Talking about adoption, even Bitcoin is a miserable failure apart from some tech startups that managed to raise some VC funding.
What we actually need is a large community base of webmasters who, each, have access to thousands of eye balls per day and can throw up an Ad promoting the coin 27/4 on their sites/network of sites. That is why WordPress is powerful - because its users are webmasters.
Hint: I'm among those webmasters, but unfortunately there is no vested interest for me to do so (since I'm late to the Bitcoin game), so for now I better rent that space to traditional advertisers who pay the bill.
. Kidding aside, I do agree with you. I look at all of these coins not as the future, but as the beginning. Far to many people get trashed by pump n dumps and well, in my opinion these coins here are about something much bigger then that. For the record, I was also mining Primecoin from day one. Been a Litecoin miner before that and own some Bitcoins as well. Besides those I dont find any other coins interesting. However, if an Asic proof coins comes along that integrates Zerocoin I will be buying like mad.
Fear not, if primecoin fails there will be millions of primecoin alt forks to pump n dump. Kidding aside, I think what all coins need is a Donation needed! thread to show how sincere the devs are. Well kidding aside, for real, what primecoin needs is merchant adoption, like how wordpress with its 96 bitcoin transactions helped to launch bitcoin to the stratosphere. Kidding aside, the competition in the coin space is darn hard right now. I doubt new coins that dont add new value to the users will overperform in the longrun. What primecoin needs are people willing to invest in creating the infrastructure. All coins but Bitcoin has so far failed miserably. Primecoin could turn out differently who knows.
Since Litecoin, Primecoin is the only one to have landed on the hands of many, as the CPU launch gave everyone quite a fair chance of mining, I even got four blocks the first day with my single intel Pentium dual core running the default client.By comparison, Litecoin was only worth 2cents when it started, Primecoin started with 70cents.
Talking about adoption, even Bitcoin is a miserable failure apart from some tech startups that managed to raise some VC funding.
What we actually need is a large community base of webmasters who, each, have access to thousands of eye balls per day and can throw up an Ad promoting the coin 27/4 on their sites/network of sites. That is why WordPress is powerful - because its users are webmasters.
Hint: I'm among those webmasters, but unfortunately there is no vested interest for me to do so (since I'm late to the Bitcoin game), so for now I better rent that space to traditional advertisers who pay the bill.
Fear not, if primecoin fails there will be millions of primecoin alt forks to pump n dump. Kidding aside, I think what all coins need is a Donation needed! thread to show how sincere the devs are. Well kidding aside, for real, what primecoin needs is merchant adoption, like how wordpress with its 96 bitcoin transactions helped to launch bitcoin to the stratosphere. Kidding aside, the competition in the coin space is darn hard right now. I doubt new coins that dont add new value to the users will overperform in the longrun. What primecoin needs are people willing to invest in creating the infrastructure. All coins but Bitcoin has so far failed miserably. Primecoin could turn out differently who knows.
Since Litecoin, Primecoin is the only one to have landed on the hands of many, as the CPU launch gave everyone quite a fair chance of mining, I even got four blocks the first day with my single intel Pentium dual core running the default client.By comparison, Litecoin was only worth 2cents when it started, Primecoin started with 70cents.
Talking about adoption, even Bitcoin is a miserable failure apart from some tech startups that managed to raise some VC funding.
What we actually need is a large community base of webmasters who, each, have access to thousands of eye balls per day and can throw up an Ad promoting the coin 27/4 on their sites/network of sites. That is why WordPress is powerful - because its users are webmasters.
Hint: I'm among those webmasters, but unfortunately there is no vested interest for me to do so (since I'm late to the Bitcoin game), so for now I better rent that space to traditional advertisers who pay the bill.
Fear not, if primecoin fails there will be millions of primecoin alt forks to pump n dump. Kidding aside, I think what all coins need is a Donation needed! thread to show how sincere the devs are. Well kidding aside, for real, what primecoin needs is merchant adoption, like how wordpress with its 96 bitcoin transactions helped to launch bitcoin to the stratosphere. Kidding aside, the competition in the coin space is darn hard right now. I doubt new coins that dont add new value to the users will overperform in the longrun. What primecoin needs are people willing to invest in creating the infrastructure. All coins but Bitcoin has so far failed miserably. Primecoin could turn out differently who knows.
Jump to: