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Funding the future with the future of currency

**About the Einsteinium Foundation** The Einsteinium Foundation was created to help, in any small way it can, raise funding for cutting edge scientific research. To this aim we created Einsteinium, a new crypto currency (similar to Bitcoin), to gather funds that can be distributed to projects the community chooses. Combined with donations from the community at large we will help fund some of the most innovative projects currently under-way or help seed those waiting to start.

A brief history of the 2013 market peak; why some alts really do die; and what would've happened if you'd given in to FOMO

This piece is a follow-up to my earlier piece, which looked at what would’ve happened if you’d purchased alt-coins shortly after the bottom of the 2013-2015 bear market. A lot of the constructive criticism that I received was that I was too bullish on alt-coins, and that the timing was too convenient. Although it’s fair to say that I am bullish on crypto in general and alt-coins in particular (with several major caveats for both), I agree that it’s important to not just focus on historical analyses where it’s fairly clear that you could have earned money. So, today’s research question is whether you’d still be underwater if you’d bought in to the market at or near the 2013 all-time high. All information cited herein comes from the historical charts available at CoinMarketCap.
TL;DR: This worst-case scenario analysis shows that $300 invested equally across 15 of the 40 coins in existence near the market’s peak in 2013 would be worth only $429.95 today—gains which are entirely attributable to Bitcoin, Litecoin, and Ripple. This is basic, but it can be dangerous to buy high. This is especially true of alt-coins, but even the top three coins in our sample saw fairly lackluster results when bought at the top of the market. Finally, nothing in this post should be taken as investment advice. This is only intended as historical analysis. Past performance does not guarantee future returns.
A Brief History of the 2013 Market Peak
According to CoinMarketCap, the 2013 bull market peaked on December 4, 2013, at ~$15.87 billion in market capitalization.* Thereafter, the market crashed dramatically not once, but twice. In the first crash, which occurred between December 5-8, 2013, overall market cap fell by ~39% to ~$9.66 billion. Then, after a brief recovery to ~$13.57 billion on December 10th, the market fell precipitously, to ~$5.7 billion on December 18, 2013. Thus, over the course of only two weeks, from December 4-18, 2013, the market lost ~64% of its value. Although this was by no means the end of the 2013-2015 bear market--which lasted for approximately 17 months and saw an additional decline of ~45% from the December 18, 2013 low--this was the end of the beginning.
What If I Bought Crypto Right as the 2013 Market Peaked?
Generally, the first rule of trading is** that you want to buy low and sell high. As a result of their fear of missing out (“FOMO”), however, many people find themselves accidentally buying high. Today, I’m going to look at what would have happened to someone who bought their crypto right as the market was peaking. Ideally, I would run this experiment from December 4, 2013, but due to the limited data available from CoinMarketCap, I’m forced to choose between November 24th, December 1st, December 8th, and December 15th. Of those dates, I have selected December 1, 2013, because it represents the worst possible scenario for which I have data. On that date, total crypto market cap, which had hit a new high of ~$15.4 billion the day before, swung wildly between a high of ~$14.83 billion and a low of ~$12.18 billion. Unfortunately, it’s unclear exactly when CoinMarketCap’s snapshot was taken. That said, it’s clear that our hypothetical FOMO trader is about to lose his shirt over the next few weeks, so let’s dive into the specifics.
On December 1, 2013, there were 40 coins listed on CoinMarketCap. I won’t list them all here, but of those 40, all but 11 are still listed as active on CoinMarketCap. The truly dead (or “inactive”) coins are BBQCoin (BQC; rank 16), Devcoin (DVC; rank 19), Tickets (TIX; rank 22), Copperlark (CLR; rank 24), StableCoin (SBC; rank 25), Luckycoin (LKY—ironic, I realize; rank 31), Franko (FRK; rank 34), Bytecoin (BTE; rank 35), Junkcoin (JKE—how apt; rank 36), CraftCoin (CRC; rank 39), and Colossuscoin (COL; rank 40).***
Now, since this post is already incredibly long, instead of testing all 40 coins, let’s take a decently-sized sample of five coins each from the top, middle, and bottom of the stack, and look at what happens. For the middle, although the temptation is to take decent alts, let’s fight that and take the group with the highest failure rate: ranks 21-25. So, here’s out pool:
Now, here are how our sample of coins has performed as of when I write this:****
So, if our hypothetical FOMO trader had invested $100 in our top-five sample near the 2013 peak, it would currently be worth $411.80 (the profitable coins) + $3.06 (PPC) + $4.27 (NMC) = $419.13—a 4.19x increase.
Now for the two coins in the middle five that didn’t completely die:
So, if our hypothetical FOMO trader had invested $100 in our middle-five sample near the 2013 peak, it would currently be worth ~$15.19—an ~84.8% loss.
Finally, here are the two coins from the bottom five that didn’t completely die:
So, excluding everything buy Argentum, if our hypothetical FOMO trader had invested $100 in our bottom-five sample near the 2013 peak, it would currently be worth ~$2.96—a ~97% loss. Putting it all together, $300 invested in this sample of 15 coins as close to the peak of the 2013 market as the data will let me get, would be worth $429.95—a disappointing, but not-unexpected ~30.2% increase over five years. That said, I’m honestly somewhat amazed our FOMO trader made anything at all on this basket of coins, considering how many of them failed. In any case, all of his gains came from the top-three coins from 2013: Bitcoin, Litecoin, and Ripple.
What’s the lesson here, what’s the takeaway?***** Most importantly, I think the above analysis shows that it can be very dangerous to buy alt-coins when the market is at or near an all-time high—a conclusion that appears to be true regardless of where the alt is positioned in the market. That said, there are a few caveats: (1) this sample was intentionally bad, in order to reflect a worst-case scenario; (2) even buying the top-three coins at the all-time high didn’t net our FOMO trader particularly large gains when compared to someone who bought these same coins after the crash. Therefore, I think that the most important lesson here is not to buy high in the first place. Investing solely because of FOMO will probably cause you to lose money, unless you have invested equally in a broad range of cryptocurrencies, like the trader in our hypothetical. Even then, however, our FOMO trader probably would have done better investing in an S&P Index fund over the same period.
*This is a correction to my earlier piece, in which I stated that the cryptocurrency market peaked on November 30, 2013, at a total market capitalization of ~$15.2 billion. I made this error due to having failed to narrow the date range of the chart so I could properly zoon in. That said, the exact details of the market peak don’t affect the conclusions from my last piece, which considered trades made after the market had bottomed out.
** …you do not talk about trading. Wait, that’s the wrong rulebook.
*** Since I already typed it out, here’s the list of remaining active coins, in descending order: Bitcoin (BTC), Litecoin (LTC), Ripple (XRP), Peercoin (PPC), Namecoin (NMC), Megacoin (MEC), Feathercoin (FTC), WorldCoin (WDC), Primecoin (XPM), Freicoin (FRC), Novacoin (NVC), Zetacoin (ZET), Infinitecoin (IFC), Terracoin (TRC), Crypto Bullion (CBX), Anoncoin (ANC), Digitalcoin (DGC), GoldCoin (GLD), Yacoin (YAC), Ixcoin (IXC), Fastcoin (FST), BitBar (BTB), Mincoin (MNC), Tagcoin (TAG), FlorinCoin (FLO), I0Coin (I0C), Phoenixcoin (PXC), Argentum (ARG), Elacoin (ELC)
**** I know that we could have sold them sooner, and probably for more money, but let’s just assume that our hypothetical FOMO trader was a founding member of the #hodlgang. ;-)
***** Don’t mess with Maui when he’s on a breakaway! You’re welcome. ;-)
Disclosures: I have previous held Litecoin, and currently hold approximately $140 of Ripple. I do not believe this influenced my analysis in any way. I have never bought or held any of the other coins discussed in this analysis.
Edits: Formatting, typos, minor clarifications.
submitted by ThaneduFife to CryptoCurrency [link] [comments]

B4U offers Bitcoin Exchange in Kuala Lumpur

One cannot deny the fact that cryptocurrencies are the new future. The world is a live witness that paper money is losing its value and Digital coins are taking over. In this era where internet is the king everything is going digital be it banking, insurance or Currencies.
B4U offers the Buying, Selling and Exchanging of Cryptocurrencies at Affordable Rates
The business tycoons of the world are the biggest advocates of virtual currencies and they are making sure they are investing in it. Elon Musk has almost verified that paper money is on its last legs and is losing value and the founder of Twitter is making sure he is investing a great deal in digital coins.
The Fascination is real. The charisma is real. Common men, middle class men or elites are in digital currencies grip and it’s almost certain that these currencies are going to be the talk of town for a very long time. There are many types of crypto currencies which one can find in the digital market like Bitcoin, Ethereum, Litecoin, Namecoin, Peercoin, Dogecoin, Gridcoin, Primecoin, Bitcoin cash to name a few.
The most famous among them are Bitcoin (BTC) they have been the talk of town since their inception in 2009. It’s creator Sotoshi Nakamoto has an ambiguous identity but the coins are very famous. They have gripped the entire nation since their inception and they are soaring high with every passing day.

Save money in the Exchange of Bitcoin at Kuala Lumpur

The value of one BTC is $3,980 but the local exchange will sell you BTC in a much higher price and in case you have few BTC with you and you want to swap them with your local currency which is Ringgit the local exchange will charge you for it via taxes so what’s the way out? You have some digital coins in your pocket and you want to trade them for local currency but what about taxes? How can one evade them? Well there definitely is a way out and that way out is offered by the reputed B4U. They have the Bitcoins ATM machine installed and from there you can business your virtual currency without concerning yourself about taxes. You won’t have to pay much and your BTC will be exchanged too.

B4U offer the best deals for the exchange of Bitcoin in Kuala Lumpur

B4U is reputed to have executed hundreds of successful deals in the buying, selling and exchanging of digital currencies. If you want to buy BTC or any other digital currency that option is available here. If you want to sell or swap your virtual currencies that option too is available here. We have the best deals available for our valued customers and we don’t charge them much. With B4U it’s very easy to be the owner of Digital coins and if you want to disown your coins it’s OK B4U will exchange them in your local currency as well.
The best place to get your BTC Exchanged in Kuala Lumpur
We are well aware what happen in exchanges. When we get to them to buy, sell or exchange our digital coins or tokens they charge us the heavy fee and not just the fee they try to invade a lot in our privacy. These are just some issues, there is one other problem at local BTC exchanges and that is mostly they don’t give us the option of having our crypto currency changed into local Currency but you don’t need to fret. We know of a place where the BTC can be exchanged into Local ringgit without much tax. This place is B4U and we have what you want.
B4U will give you Ringgits for your coins without bothering your with the unnecessary taxes

Exchange your virtual currencies into local currencies

The best thing about B4U is if you have Bitcoins or any other virtual currency in your wallet that can be exchanged into all the other currencies. If you are in need of dollars we can give them to you in barter of your crypto. If you need pounds, rupees or any other currency B4U has that option available and you can avail that by trading your crypto with us. We have vowed to make it all easy for our valued customers so if you want the best deals in virtual currencies you can have them from us.

A Golden chance for investors! Invest in virtual currencies

Things are changing rapidly in today’s era. Things which were the sensation a year ago have been replaced with newer addictions. It seems like yesterday when Facebook was the sensation in social media but now things have changed since Instagram has taken everyone in its grip.
Paper money was once a great deal. We have lived with it all our lives but since the inception of internet things have changed, now its the era of crypto. Cryptocurrency are taking everyone into its storm and it is visibly taking over the paper money. First credit cards mocked the value of paper money now its the crypto. Virtual currencies are the sensation because of one more thing, there is a chance of profit in it. For instance if you buy one bitcoin for now you will get it in $3,980 but months later its value will double or even triple so in case you intend to sell your cryptocurrencies after few months you will earn a huge profit out of it.
There is a reason why the world is going gaga after digital coins, they create the chance of earning huge profit out of them. Bitcoins and Ethereum are clearly taking the lead. Back then when they came into the market they were cheap but now you can’t have them unless you have enough cash with you. You shouldn’t buy the crypto just because everyone else is buying it, you should buy it because they can generate the revenue for you. B4U has the best deals available and if you want to make a profit in cryptocurrencies it’s the right place to come to in Kuala Lumpur, Malaysia.

The ATM Machine will save you a lot of Trouble

Local Exchange are everywhere in Malaysia. The buying, selling and exchanging of crypto currencies are possible at a lot of places but there is a place which has an edge over other exchanges. This place is the ATM machine in B4U.
With the availability of ATM machine in Kuala Lumpur it’s a lot easier for the people of Malaysia to have crypto in their access. While the local exchanges will charge you the heavy fee in the buying and selling of virtual currencies the ATM won’t charge you much. You can have your desired coins from the machine after inserting cash. The machine won’t invade your privacy and the method is pretty quick as well. You get a receipt 20 minutes later after inserting your cash.
In the exchanges usually there is so intense an interrogation that a customer feels offended but when you know that you have all the keys in your own hand that you will just have to fill up some of your info with the cash then there is nothing to worry about.
B4U ATM Machine on google map
Customers like the things which are easy to operate and the ATM machine installed in B4U can be operated by a layman as well.
As we all know it’s the era of digital currencies. Only that one is successful in this age who is investing in the right place. So invest in crypto because it promises a great future.
More Articles about B4U ATM Machine


B4U offers the buying, selling and exchanging of cryptocurrencies at affordable rates. The ATM machine installed in B4U can be used to buy, sell and exchange the virtual currencies. Be in touch with us and secure yourself a great deal.


335A Melawati Urban 1 Lorong Serawak, 53100 Kuala Lumpur, Malaysia


Monday to Friday
10:00 am to 6:00 pm
Saturday and Sunday is closed.
submitted by B4U_Wallet_Exchange to btc [link] [comments]


valid calls
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please try to break it
Update the tool bot no longer responds to garbage :) do it right or be ignored :)
submitted by MasterWillScarlet to dogetoolbot [link] [comments]

[dogetoolbot] get the current value nearly 100 cryptos nearly instant

Now we are getting somewhere :) different fiats coming next
//Update It also now displays multiple fiats :)
submitted by MasterWillScarlet to dogecoin [link] [comments]

CMV: Anyone Who Believes Vertcoin's Price Will Increase Once Powerful Scrypt ASICs Come Out Doesn't Understand Demand-Side Economics

I see plenty of people speculating that Vertcoin will explode in value once Scrypt ASICs come out. I personally feel otherwise. The Adaptive scrypt-n and Kimitos Gravity well only appeals to miners-the producers. It does not appeal to many people wanting to buy. We will certainly see a lot of miners moving to Vertcoin once their huge GPU farms cannot profit when competing against 200 MH/s ASICs.
Now, with a cryptocurrency it is a little different because quantitative supply is static-more people mining it only reduces the amount each person gets. But more people will likely be selling mined Vertcoins as they are desperate to pay off their investment in GPU farms. So the effective supply would be higher due to increased pressure to sell by new miners.They will be willing to sell at any price as long as they can pay off electricity- any less, and they will stop mining and sell off their video cards.
But what people seem to fail to understand is that supply does not drive demand. Unless Vertcoin does something to appeal to others besides miners, there will be no increase in demand. All we will see is an increase in supply(due to more being sold, the actual "supply" is static, but the traded amount would increase), no increase in demand. This would lower prices. The people with dozens of video cards aren't looking to buy Vertcoin, they're looking to mine and sell it to make a quick buck. There is NO increase in demand resulting from this.
Just look at Primecoin, mining that is horribly unprofitable. While AFAIK its only mineable by CPU, without free electricity you're mining at a loss even on a nice I7 CPU. This is a related example of how supply of a crypto-currency does not drive demand. It does not matter how "fair" or "useful" the mining is, if no one has any reason to buy it in the first place.
We can continue to advertise about how great our coin is, and pressure merchants to accept it, but we won't get anywhere. It just doesn't compete with the age of Bitcoin, the culture and size behind Dogecoin, or the size behind Litecoin. We need to do something big that appeals to everyone, and makes us the next big thing. ASIC resistance should just be one of our big perks. Without demand, the coin is worthless.
submitted by skilliard4 to vertcoin [link] [comments]

[dogetoolbot] ask and receive: You can now get multi fiat value for over 100 cryptos! Just say how much coin, and what kind :)

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submitted by MasterWillScarlet to dogecoin [link] [comments]

Proof of Stake and Peercoin's Historic Significance

Bitcoin, Namecoin, and Peercoin are first attempts at solutions to important, long-standing problems. Bitcoin is the first decentralized cryptocurrency. Long before bitcoin existed, people believed that the problem of decentralized cryptocurrency was important.
Namecoin, as far as I know, is the first decentralized DNS system. Again, long before namecoin existed, people hoped for a decentralized DNS system.
Peercoin is the first decentralized cryptocurrency based on proof-of-stake. Peercoin's inspiration is the 'tragedy of the commons' associated with PoW mining. The 'tragedy of the commons' problem in mining has a history dating back to this thread in Nov 2010. People began searching for a solution before peercoin existed and before the term of proof-of-stake had been coined.
When I found out about bitcoin (March 2011), it sounded awesome to me. Proof of stake was not a term yet. In April 2011, I became aware of the the tragedy of the commons problem. I saw it as a nail in bitcoin's coffin and I still see it this way.
Discovering proof-of-stake got me excited again. The beauty of PoS is that it does not require miner rewards to function. With proof-of-stake, the tragedy of the commons doomsday scenario becomes a non-issue. Sure they may be no txn fees, but so what? If you are using PoS this is a great feature. If you are using PoW low fees are a showstopping bug. Once I learned about proof of stake, I saw possibilities: 1) Bitcoin adopts proof-of-stake (or some other rule-breaking alternative) and remains dominant in the long-term. 2) An altcoin adopts proof-of-stake and remains dominant in the long-term. Personally, I see exit to a new cryptocurrency as much more likely. The political challenges of rule-breaking changes in bitcoin are just too daunting. If you need to rewrite the rules, starting from scratch can be a valuable asset.
Today, few people understand that the proof-of-stake idea came out of the debate about the tragedy of the commons problem. If you haven't done so already, I recommend reading one of the most influential threads in the history of bitcoin talk: the tragedy of the commmons thread by Vandroiy. Vandroiy's thread attracted a lot of interest, but did not really make any progress towards a solution for two months. Things changed when Quantum Mechanic posted the thread "proof of stake instead of proof of work" (https://bitcointalk.org/index.php?topic=27787.0). Quantum's thread is the first instance of the term 'proof of stake' in the bitcoin community. It may be the genesis of the concept as well. Quantum suggests that proof of stake could allow for lower txn fees. Quantum's concept of proof of stake starts to gain traction once it appears in Vandroiy's thread. Quickly, Vandroiy, Meni, myself, and others realize that proof-of-stake is the likely solution to the tragedy of the commons problem. From this point on, I make it a personal mission to promote proof-of-stake cryptocurrency.
To date, proof-of-stake remains the only proposed solution to the tragedy of the commons problem. With peercoin's arrival in Aug 2012, we have seen this solution realized. Bitcoin devs have spent three years searching or an alternative answer, but have yet to even propose anything.
The tragedy of the commons problem matters. Gavin has often said that a working market for txn fees is perhaps bitcoin's most pressing development issue. This is just a different (and less dramatic) way of referring to the tragedy of the commons problem. Game theory I learned in school told me that bitcoin has 0% chance of remaining valuable in the long-term unless the problem is fixed. If bitcoin can't be valuable in say... march 2050, then why would it be valuable in february 2050? Working backward to the present, the implication is that bitcoin's value depends on faith that this will get sorted out.
Freicoin and Primecoin also solve novel problems, so they deserve credit too. However, very few people see the motivating problems behind Freicoin and Primecoin as important. The tragedy of the commons problem, on the other hand, is one of bitcoin's most important lingering issues. For the past 2 1/2 years, I've viewed this problem as the number one threat to bitcoin's survival.
tl;dr Peercoin offers the first solution to one of bitcoin's most important problems. Can you tell a similar story about the intellectual contribution of litecoin, Quarkcoin, [Insert Scamcoin name here], etc.? Even if Peercoin gets replaced by something else and loses all value, it will still have made history. Nothing can change that. Very few coins can say the same.
submitted by cunicula to peercoin [link] [comments]

I've decided to invest in either LTC, PPC, XPM or Ripple. Which one has the most potential?

Hello, I have a gut feeling that by 2015 at least of one these will follow suit and become semi-mainstream like Bitcoin recently did.
The most confusing part is separating the fanboy bullshit from the true core ideals of the developers behind each one.
For example, one of the top pages you stumble upon when googling Ripple is the ripplescam.org site, which was created by TradeFortress who apparently is an 18 year old who chooses to stay anonymous and operates inputs.io which was supposedly "hacked".
My thoughts on the coins:
Litecoin - Pretty cool, don't know if having faster microtransactions and Scrypt is enough to garner merchant attention for now.
Peercoin - Seems good for long term, apparently cannot be used that well for microtransactions once it appreciates in value.
Primecoin - Don't know much about this coin, honestly. Just heard it has lots of perks but have yet to see any support for it.
Ripple - I think it has good long term potential simply because it appeals to the government and they are more likely to let something like it go mainstream as opposed to letting anarchy prevail and accepting bitcoin, a coin that is currently used in all illegal marketplaces. In fact, after reading the forums and watching some videos these guys seem as close as Circle is to revolutionizing cryptocurrency.
Any input appreciated, thanks.
submitted by BluntKisser to CryptoCurrency [link] [comments]

List of all crypto currencies that have ever existed

I've attempted to list all the crypto currencies ever, which took many hours and much searching. If I missed any, which I'll be extremely surprised if I didn't, please tell me and I'll add it to the list.
66 Coin
Amazon Coin
Bitcoin sCrypt
Copper Bars
Cryptographic Amomaly
Deutsche eMark
Electronic Benefit Transfer
Flappy coin
Florin coin
Geist Geld
Gold Coin
Gold Pressed Latinum
GPU Coin
Imperial Coin
Insanity Coin
Kimoto Gravity Well
Klingon Darsek
Lottery Tickets
Magic Internet Money
Mason Coin
Mint coin
MMM coin
No Coin
One last coin
PKR coin
Popular Coin
PyBy Coin
Quick Quick Coin
Rare Coin
Sauron Rings
SHIT coin
Sun Coin
UFC StarTrek
UFO coin
Union Coin
Yuan Bao Coin
submitted by turtlecane to dogecoin [link] [comments]

12 Reasons to Invest in Primecoin

‎1- Primecoin‬ is the First non Hash-Cash PoW Crypto-Currency.
2- Naturally Scarce
3- Very fast confirmations - 1min/block
4- Elastic supply
5- Primecoin is sustainable
6- Primecoin is currently the “fairest” coin to mine
7- Primecoin can introduce new participants to the new digital economy
8- Proof-of-work cryptos will gradually transition toward energy-multiuse, ie providing both security & technological computing values. And Primecoin is the pioneer in this realm.
9- Primecoin has anti-centralization features
10- Primecoin captures the Wasted Energy of Bitcoin's Algorithm - The mining is actually useful
11- Primecoin has direct by-products
12- Primecoin has been developed by Sunny King, one of the most talented crypto-technologists of the rank of Satoshi Nakamoto
submitted by crypto_coiner to primecoin [link] [comments]

Please explain the value of the other alt-currencies?

Hey, cryptocurrency n00b here. Please don't flame. I own a couple of bitcoins. I had heard about litecoins a short while back, but don't own any, but was considering investing in some (maybe 1 or 2 BTC worth). I've recently heard of a number of other alternative virtual currencies: peercoin, novacoin, terracoin, feathercoin, namecoin, primecoin
What is the point of these? For a currency to have any actual value, it needs to be actually useable and accepted by merchants. It's an easy way to pay for goods/services without the barter system. I can't imagine any merchants accepting 10 different virtual currencies.
Also, I originally thought the whole point of a cryptocurrency was to have a universal, decentralized currency - one that is accepted worldwide, that everyone uses, free from being bound to any flags, governments, central banks, etc... Doesn't 10 different competing currencies cause the same problems as having pesos, yens, yuans, dollars, pounds, rubles, euros, candian dollars, rands, francs, shekels, etc..?
And on that note, why not create yet another cryptocurrency that uses a slightly different hash algorithm? We can extend the several that are tradeable on BTC-E to a dozen more. At what point are there too many currencies?
I'm not that familiar with monetary theory. No disrespect if yall own any of these. I can understand the point of bitcoin/litecoin as gold/silver. But these other ones just seem like speculative scams / online gambling pure and simple.
submitted by Mooninite2112 to litecoin [link] [comments]

A rant why we are worth at least $8,000,000

At the time of this writing, Mazdacoin, Worldcoin, Novacoin, Infinitecoin, Megacoin, Primecoin, and Feathercoin are the difference between Vertcoin being valued at $3,000,000 million and around $8,000,000 (or around $4 per Vertcoin).
Marketcap is important. Its the most important thing that values who’s making it as a coin. The sole exceptions are cases like Ripple and Auroracoin where the distribution of the coin is not real (where the majority of the ‘coin’ is held and not available in the market).
Mazdacoin. You lucky son of a gun. You jumped on the ‘sovereign nation’ coin at the right time. You were even the first one to try this gimmick. Good job! Sorry to break it to you, but nation coins cannot be successful. I’m sorry. You want a small group of people to collectively call a coin their own? Fine. But it cannot be used as currency in your ‘nation’ when everyone in the world can manipulate it. The truth is outside your small nation people can use the coin to continuously gamble on pump and dumps. Cryptocurrency in general cannot be used for specific populations because it allows outside forces to manipulate it. I guarantee you there will be Panamacoins and UKcoins and the most hyped of all Chinacoin (which will be awesome to get in the first day) that will pump and dump that may be temporarily successful but will fail. These are not real coins.
Worldcoin. I don’t even know how you are what you are. You are like the litecoin of litecoin. The 2% of the 2%. I suppose keep doing what your doing, but I’m not a big fan of the .04%.
Novacoin. The peercoin of peercoin. Again I don’t even know what you are or what makes you you. Good luck.
Infinitecoin. You have so many coins! More coins means like more decimal spots or something. Strange gimmick.
Megacoin. You seem to just appeal to people interested in crypto… I think you may be the great great grandson of bitcoin. You have no gimmick.
Primecoin. I my geeky side likes you. You make a coin seem sorta useful. Maybe you will discover through prime numbers the meaning of life or something. Other than that… well I can’t think of too much to say.
Feathercoin! You are valued at where we should be. You are just another litecoin clone with a few variables changed. Why not as useful as Vertcoin, you are what we want to be at the current time.
Anyways happy verting. Good luck folks.
***edit This is of course said knowing that Vertcoin has advantages to these generalizations. A community that surpasses all of them in size. In activism. In usefulness. We have active devs working on furthering our cause. A distinction of being decentralized and anti-ASIC which will become a huge factor. A awesome marketing advantage in our professionalism, logo, website, reddit, ect. Go Vert!
submitted by vertcoinz to vertcoin [link] [comments]

Regarding the "Bitcoin and Magical Thinking" blog post spotlighted on Techmeme today - The network, the infrastructure, and the community behind it is hardly a "magical thought."

I'm referring to this post, which a Bitcoin-opposing friend just sent to me with the subject line, "An damning indictment" -
I responded with this:
The network, the infrastructure, and the community behind Bitcoin is hardly a "magical thought" (Here's the definition of that concept from contemporary Western psychology: http://en.wikipedia.org/wiki/Magical_thinking)
Two weeks ago, there was very good debate about Bitcoin -
Ultimate Bitcoin Showdown - Posted Dec 2, 2013 - [30:14] - Goldbug/dollar-skeptic Peter Schiff vs. Erik Voorhees, Bitcoin entrepreneur formerly of BitInstant (https://www.bitinstant.com/), now of Coinapult (https://coinapult.com/) - http://www.linkedin.com/pub/erik-voorhees/b/804/385
I'll post the link to the full video below, but I first want to quote from it:
As Voorhees says, gold-backed digital curencies have been attempted and were then quickly shut down by the gov't. He later says (at 9:20), "[Bitcoin] could absolutely go to zero and the whole thing is completely experimental right now. So I'm not here to say that Bitcoin is a good investment. What I'm here to say is that the Bitcoin payment network is one of the most important technologies that has ever been invented, and it's important to understand that there is value in that technology [and] it's important to understand why that technology is so useful to people, especially people who care about liberty around the world." And he explains later that this infrastructure cannot be reproduced easily...even if Bitcoin is not the winner of the crypto-currency market competition. He also compares the hardy vitality of P2P currencies to that of P2P file-sharing. The free, independent Napster file-sharing service was launched in June of 1999 an rocketed to popularity, but the shutdown of it in July of 2001 was not exactly the end of free P2P music-sharing... In fact, just going by the services that I can just recall fellow college students using at the time, there was:
SoulSeek (launched in 1999/2000)
Gnutella (early 2000)
BearShare (December 2000)
Morpheus (2001)
Kazaa (March 2001), and
LimeWire (May 2000).
And of course there are the file-sharing services that are popular today, from Dropbox to these:
to these:
Now. As far as digital crypto-currencies today, there's Litecoin, Peercoin, Namecoin, Quark, Protoshares, Worldcoin, Megacoin, Primecoin, and Dogecoin, and dozens other listed here, totaling in 54:
The point that Voorhees makes about the pooled inventiveness and ingenuity of the crowd reminds me of something both revolutionary and prophetic that was said by John Gilmore (an American computer science innovator, Libertarian, Internet activist, and one of the founders of Electronic Frontier Foundation). He said:
"The Net interprets censorship as damage and routes around it."
-As quoted in TIME magazine (6 December 1993) (yes, 1993!)
Furthermore, on a separate note, the media angle that Bitcoin is practically "over" because of China blocking it (which that same friend was gloating about), here's all I have to say as well:
Here's a list of enterprises that were hardly destroyed after being banned in glorious all-powerful China:
Facebook, YouTube, Twitter, Wikipedia, WikiLeaks, and the New York Times' online edition (and a few others, named at the following links) were each NOT blasted into nonexistence by the force of "the Golden Shield Project," which we Americans call "the Great Firewall." Yup, Bitcoin is "over"!
Hey, but waddaya know - Some of the 1,350,695,000 people in The People's Republic have ways around that censorship, as do the millions of people in so many other Internet-censoring countries:

Here's the full video of the Bitcoin debate:
Edit/Follow-up: To extend the analogy of P2P digital currencies and P2P file-sharing (and most notably, music-sharing), what would be the currency equivalent of iTunes, which came ou in January 2001? Will JPMorgan's crypto-currency project (as I saw here, and it was downvoted to hell: http://www.reddit.com/Bitcoin/comments/1sp6hh/jpmorgan_is_looking_to_copy_bitcoin_and_the_coin/), even though it was initially rejected 175 times, find some way to charge/surcharge people small amounts at a time for usage (a la iTunes' 99 cents per song), in traditional-bank-style?
submitted by wazzzzah to Bitcoin [link] [comments]

Analysis: PeerCoin .01PPC destroyed when a transaction occurs - i.e. I think this is bad design and here is why.

Sorry for the length, but I feel that this is an important topic and deserves suitable treatment.
So I spent quite a bit of time and effort to try and understand why PeerCoin destroys 0.01PPC every time a transaction occurs. Some of my research can be found in the original thread listed at the bottom of this post.
The stated reasons I was able to uncover for the destruction of the 0.01PPC Fee can be broken down into 3 categories:
1) Discourage growth in the block chain size by discouraging transaction scaling.[1]
2) Increase security by protecting against sybil attack described in Babaioff et al research paper.[2]
3) Serves as a deflationary force to counteract the inflationary force from Proof-of-Stake mining.[3]
Based on the 3 objectives above, I have come to the conclusion that destroying the 0.01PPC transaction fee is wasteful, inefficient, and in the long term acts directly counter to some of the innovations that PeerCoin was intended to yield.
Each point taken 1-by-1:
Point 1) Discourage growth in the block chain size by discouraging transaction scaling.
Destroying the transaction fee does not contribute towards this goal. The transaction fee itself does discourage growth in the block chain size, similar to a sales tax, but collecting that sales tax and destroying it (removing it from the economy) just becomes waste. This runs directly counter to the PPC goal to be an efficient and cost competitive currency[4]
Point 2) Increase security by protecting against a sybil attack described in Babaioff et al research paper.
Once again, destroying the transaction fee actually does not contribute towards increasing the security of the currency. The original problem space described the payment of transaction fees to the node that authorizes a block creating perverse incentives for nodes to inhibit propagation of information through the network in order to capture additional transaction fees. The authors showed a robust solution where transaction fees are instead spread to both the authorizing node and relaying nodes as a solution that aligns incentives in such a way that propagation of information is encouraged through the network. In the authors solution, a node trying to hinder information propagation would be countered by nodes incentivized to relay information. Neither of these checks and balances are evident in the fee destruction model that PPC has adopted. A node could theoretically still try and hinder propagation of information and there is no counterbalancing incentive to try and encourage propagation of the information through the network. This does decrease the reward for a successful sybil attack, but it does nothing to actually increase the security as the stated goal. There may be further security considerations such that the security problem space changes which are completely unmitigated via the fee destruction model.
3) Serves as a deflationary force to counteract the inflationary force from Proof-of-Stake mining.
It is useful to start w/ a definition of deflation. Deflation: reduction of the general level of prices in an economy. So, by destroying part of the money supply every time a transaction occurs, there is a general expectation that prices will go down? This seems counter intuitive. If I have fewer units of currency to cover the same amount of goods and services, I would expect prices to actually rise, not fall. Therefore the 3rd point is not supported either.
Speculation - I suspect that the original intent behind the 3rd point was to preserve the value of the currency as the number of units of the currency increase due to PoS mining. This isn't deflationary, but inflationary instead.
Conclusion: Above it is demonstrated that the PPC fee destruction does not further the stated goals and that the fee destruction design is wasteful, inefficient, and does not raise security (and possibly introduces new and unconsidered security implications). I would love to see thoughtful analysis about why fee destruction is a positive aspect to owning and holding Peercoins, but at the moment, I cannot find support for the stated objectives.
Research Links:
[1] Sunny King attribution in: http://www.peercointalk.org/index.php?topic=526.msg4301#msg4301
[2] http://peercoin.net/peercoin-paper.pdf Other Considerations section, paragraph 3
[3] http://peercoin.net/peercoin-paper.pdf Other Considerations section, paragraph 3
[4] From the Peercoin.net whitepaper abstract section
Original Thread: http://www.reddit.com/peercoin/comments/1s0wrl/what_is_the_reasoning_behind_the_destruction_of/
Apparently I now take tips :-)
Bitcoin (BTC) 1KBhGvJXcYDDKBN4BTNK6GNksodYphjKnk
Litecoin (LTC) LVHJ2CzsKSTC1K59peqHYgm3sAhPjx7N3N
Megacoin (MEC) MNJmb4JLsinVqmDDb3jFevNDSbWW3pmPKD
Namecoin (NMC) MykBJ75baHmvjbumt5YeH5S99ZYvkA2anX
Peercoin (PPC) PGA3xQTwFEiwSD7Nv2YhweKes8Yqk873rP
Primecoin (XPM) AYXBcf1fCANQU8ZGU7rem8aTjKbRJ7uTTe
submitted by TheLeaper to peercoin [link] [comments]

investing in all top altcoins

If you invested 100 USD in all let say top 30 coins on http://coinmarketcap.com/ Do you think you would profit in?
a) 3 months b) 6 months c) 1 year d) 2-5 years e) Never
I'm not planning on doing this, I might just put some money on coins I have faith in, however the idea is funny. And even though the majority of the coins would not increase in value, I think the few (or maybe only 1) that actually succeeds will make up for all the other coins loss.
So you spend 100 USD * 30 coins = 3000 USD. Then you only need that 1 coin increases 3000% to break even (given that all the other coins goes to a value of ~0). This is not impossible given crypto coin history.
Edit: I made a list of all top 30 coins today 2.december 2013. Lets come back later and check the results of our "imaginary" stack of coins. Format: Coin name: 'Price' gives '100/Price' ABC
submitted by spartancoin to altcoin [link] [comments]

Share your top 5 Cryptos and why.

I like to follow http://coinmarketcap.com/views/filter-non-mineable-and-premined/ and http://www.coinwarz.com/cryptocurrency/ just kinda for fun. I am really interested, like many, in the long term how cryptos will play out as far as real world adoption, values and use etc. Because I have a small amount I play with, and not much to spare, I've decided to arbitrarily limit my crypto investments to my top 5 favorite coins, so these are them.
I'm curious what your top 5 coins are and why you are excited about them? Also which of my choices suck, and why ;-)
  1. Bitcoin: it's the biggest, most used and most accepted. I think it will continue to be the major player or one of several major coins just because of it's primacy and recognition.
  2. Litecoin: it's the 2nd biggest, 2nd most used and 2nd most accepted ( I think? ) and even though it's market cap pales compared to bitcoin's, it still an order of magnitude above all the other alt coins. It's in based on the 2nd largest market cap and all it has invested in it's acceptance and services.
  3. Dogecoin: I actually don't like several things about this coin. Mostly it's inflation and the fact that I can't see it ever being used in a major way by large scale businesses ( can you image a contract for a multi-million dollar skyscraper paid in a "joke" currency? ). But I can see it fulfilling a niche use, and it does have a lot of "fans" and fun publicity. I hold the least amount of this currency between the 5 coins I hold. I keep it on the list because it's funny and likable, and Im guessing it has more users than litecoin or possibly even bitcoin ( I have no data, it just seems a lot of people hold a little ? )
  4. Darkcoin: This one is a little bit "front runner" with the recent rise in price, but I bought just before that so I'm liking it. I'm interested in this coin because it's innovation in mining algorithm, and it's offering anonymity to end users. Yes, I know other coins could add this, but I see significant resistance to BTC or LTC adding this, as they want to participate in more business / government settings where blockchain transparency -can- be a good thing. Maybe Dark Wallet for bitcoin makes this coin less interesting, but I still like the algorithm and it seems to be gaining services and merchant adoption, so Im still watching and waiting.
  5. Myriadcoin: This is the most recent addition to my top 5. I like the algorithm innovation, using multiple algorithms side by side. Unlike the way vertcoin "fights" what is possible with it's n-factor scrypt, Myraidcoin embraces what is possible in terms of mining hardware. ASICs are welcome and not a huge centralization issue. Another a key difference from vertcoin is that Myriad's ASIC coping mechanism is beneficial to the end user, by making %51 attacks another order of magnitude more difficult, vertcoin's increasing n-factor is great for miners, but I think has very little meaning to end users. This is my underdog vote since it is a tiny market cap but I think it has potential.
PS. I recently sold out of positions in Namecoin, Peercoin, Primecoin and Vertcoin PPS. I suck at grammaspelling, sorry.
submitted by starkast to CryptoCurrency [link] [comments]

Using the Bitcoin protocol for more than just money

I think Bitcoin is a very interesting technology, and I'm glad to see it's taking off. But at the same time, I think it could be so much more. The real interesting technology is the block chain. With a few improvements and minor modifications, it could be the basis of much more than a digital currency. Namecoin and Bitmessage are two examples of other uses for a block chain, but AFAIK each uses their own, independent chain and network. I feel like should be possible to combine them.
Please mind that I haven't studied the protocol in extreme detail and I'm not a mathematician or a cryptographer, so I might be wrong on some understandings of the details. Corrections are highly welcomed.
Please also don't just view this as another "Bitcoin protocol sux, here's how it should be done" post. That's only the first section. ;-)

Improving the protocol

Firstly, I think the biggest issue Bitcoin (and all alternatives I know of) has is overhead. The block chain is several gigabytes, and bitcoind likes to choke my network with a lot of connections and big uploads.
Maybe the growth of technology will outpace the growth of Bitcoin's resource needs, but I don't think we can rely on that. Phones have been stuck at ~16GB of internal storage for quite a while now (maybe there are some reaching 32 and 64GB, but I don't know of any), and internet service is actually making backward progress in much of the western world - slower connections and tighter caps. One of Bitcoin's goals is also to prevent being controlled by any government or central authority - but if it relies on fast network connections, that's something an oppressive government can easily restrict to choke it.
Especially for a new client, to have to download the entire block chain can be daunting. And for a mobile client, the amount of network I/O seems like far too much for the piddly data caps mobile networks have, and the block chain would quickly eat up their available storage.

Size of the block chain

My understanding is that the solution to the blockchain size issue is to create a new genesis block; essentially replace the entire chain with a single block containing a hash of all previous blocks and start chaining again from there. But as far as I know, this is something that the Bitcoin developers have to do manually with a change to the source code (which also means they have to be able to do it - what if they disappear?), and this hasn't been done yet. This new genesis block creation needs to be built into the protocol and happen automatically, so that the chain never grows too large.

Network strain

As for network issues, I don't know why Bitcoin requires so much overhead, but I believe it's from clients transmitting large portions of the block chain (sometimes the entire chain) to new clients who don't have it. I think a simple solution here would be to download small chunks from many clients instead of large chunks from a few clients. The new client still has to download all the blocks it's missing, but the sending clients don't need to upload as much, so their connections won't be as strained.

Block generation rate

One thing I've never understood is why blocks are generated at 10-minute intervals. Litecoin shortens that to 2.5 minutes, but that's still fairly long. 10 minutes might be plenty of time if you're ordering online, but if you want Bitcoin to completely replace fiat currency, it needs to be as fast as fiat currency. Nobody wants to wait 2.5 minutes (let alone 10) in the grocery store or fast food drive-thru for their transaction to go through. Cash payments can be as simple as handing over a bill, and debit payments can complete in a few seconds.
The usual suggestion for how to resolve this is to put some Bitcoin in an account, controlled by some payment processor, so that when you later want to actually buy something, you just ask the processor to transfer from your account and they can do so immediately, and the shopkeeper can trust that the transaction will go through. But isn't this just a bank? How can we be sure we can trust the payment processors to not just run off with the money (especially with no controlling authority), and to not pull the kinds of annoying things banks do (fees fees fees)? To me it seems like relying on some third party to handle your Bitcoins is no better than the existing system Bitcoin intends to replace.

Scientific value of computations

One altcoin that I really like is Primecoin. Instead of brute-forcing hashes, Primecoin's proof of work is finding prime numbers. I feel like this is a nice benefit - in addition to everything the network does, now it's also doing calculations that are useful to science, instead of calculations that exist solely to be difficult.
Of course, if someone found a much more efficient algorithm to compute prime numbers, then this protocol would break. But the same is true of the hashing Bitcoin uses. Also, most existing cryptography is based on prime numbers, so I think there'd be a lot more to worry about than just Bitcoin. (That also implies that if the difficulty of prime numbers is trustworthy enough for everything else, it's probably good enough for Bitcoin too.) In either case, the protocol can be updated to a harder algorithm (even if it means going back to calculations that aren't scientifically valuable).

Using the block chain for messages and information

Already, every client has to download every block, and look through it for transactions involving its addresses. It should be an obvious and trivial extension to allow it to store messages sent to a Bitcoin address as well. This method of exchanging messages has a few nice advantages as well:

Making Bitcoin function as a P2P file sharing network

Expanding on the above idea: who says the messages have to be text? By using a binary format (perhaps with a container such as a zip file), it would be simple to send someone a file this way as well.
Of course, once you start sending blocks containing files, the size of the block chain becomes an issue again (and the size/quantity of the blocks for a large file could push transaction fees quite high as well). I think there are various ways to resolve this.
The way that appeals to me is to do what Freenet does:
I've emphasized may here because it's important in Freenet. Since there's no guarantee which clients will save/pass along a chunk, it's difficult to tell which clients have it.
Bitcoin clients, then, would be running this sort of chunk exchange system to share files. The block chain would just keep a record of the file's existence. It would identify the chunks that belong to a particular file, and perhaps the "owner" of the file - so that just as only the owner of a coin can spend it, only the owner of a file can upload a new version of it. Clients might also periodically broadcast a public message, stating that they have (or no longer have, or know where to find) chunks X, Y and Z (which may or may not be all the chunks they have).
Of course, another way to share files would be to simply broadcast a message saying "file X can be found at ftp://blah.blah.blah/X". But this isn't really sharing files, only their locations. This method doesn't give you any of the benefits of the Freenet method, but it might be suitable if you don't care about people being able to find out that it was you, in particular, who uploaded/downloaded the file. (Peers could still randomly grab copies of the file and rehost them, perhaps in chunks, to maintain availability and mask who's actually requesting it.)
Again, it'd be possible to encrypt a file with someone's public key, or leave it in plaintext so everyone can see. What Freenet does is something along the lines of including the decryption key in the file's URI. That way the nodes who hang on to its chunks can't know their contents (which means you can't get in trouble if someone uploads something illegal and your node happens to cache it), but anyone can be given the URI, allowing them to decrypt the file.

Using the block chain as a generic record of object ownership

Already the block chain is essentially a big record of who owns what coins. More generally, it's a giant key-value store. Spending a coin is telling all your peers "I'm giving Bob ownership of my Foo", and having them agree that you're able to do that. There should be little reason it couldn't record the ownership of other things, and other messages than just transfers of ownership, such as:
TL;DR Bitcoin and its block chain technology could be not just a digital currency, but the future of decentralized networking, incorporating email, DNS, file transfer and just about anything else all in one system.
(edit: add a couple more possible uses)
submitted by RenaKunisaki to Bitcoin [link] [comments]

The technical fundamentals of Primecoin are outstanding

Below some statements/quotes (apologizes for not sorting them out) that suggest/contend that Primecoin is outsanding.
"Bitcoin ASIC re-use: password cracking? but the problem is these SHA256 ASICs have random data for work, while password are specific. So no."
"Primecoin is suited to sidechain- Security doesn't rely on tx fees;offloading tx volume to sidechains doesn't weaken main network"
"Each time #Primecoin difficulty is getting south, it gets corrected North; the Block reward smooth recalculation work" https://pbs.twimg.com/media/Bv4PJbpCUAEMQ5v.png:large
"In a Free Market there's Free Will as driver for Actions & fundamentally #Primecoin provides the ability of applying our Ingenuity on Mining"
"w/ #Primecoin ppl who like to mine cryptos have a better choice to mine, to get more benefit out of the mining activity & environmental cost"
"about micropayments in the US$1 range, XPM still handles them with much lower overhead than credit card network."
"XPM's inflation model is designed in such a way that it could serve as backbone currency better than bitcoin if needed"
"XPM is designed with energy multiuse."
"#Primecoin is non hashcash,ie: Trying out a myriad of random numbers at a time by brute force (as in Bitcoin/Litecoin) will get you nothing."
"How can Bitcoin sustain as it is if rewards inexorably are shrinking w/o raising fees drastically? A: #primecoin " https://pbs.twimg.com/media/BvyzH_QCQAAn84z.jpg:large
"Proof-of-work cryptos will gradually transition toward energy-multiuse,ie providing both security & scientific computing values. #primecoin"
"It appears there are market forces at play such that diversification of proof-of-work types is inevitable. #primecoin"
"#Primecoin has still good scarcity property similar to gold while network security is maintained without the need to raise transaction fee."
"For a pure proof-of-work, it’s not realistic to expect all 3 goals to sustain: high network security, low inflation and low transaction fee."
"Primecoin is designed as a pure proof-of-work cryptocurrency, to complement the proof- of-stake design of peercoin."
"#Primecoin hack to verify PoW is ingenious and efficient. " Pseudoprimes of base2 are much more rare than primes;it suffices to only verify probable primality https://pbs.twimg.com/media/Bvys24-CMAEOFGx.jpg:large
"Primecoin PoW (finding prime chains) gets exponentially harder but is efficient to check by any node on the network " https://pbs.twimg.com/media/Bvyppl1CcAAzLzS.jpg:large
"Proof of Work. From hashcash sha256 (bitcoin), scrypt (litecoin) to non-hashcash #Primecoin" https://pbs.twimg.com/media/Bvyna20CcAASCKH.jpg:large
"Until #Primecoin, it remained elusive for a different proof-of-work system from #hashcash to provide minting & security for cryptocurrency."

Primecoin You have to design inventive software and hardware to extract precious primecoins.

submitted by crypto_coiner to primecoin [link] [comments]

Hi there /r/Bitcoin, I recently found some forgotten bitcoins in an external HDD, and I'd like advice on a couple things.

Hi there /Bitcoin,
I was browsing through the contents of an external hard drive and found a backed up wallet.dat file with some Bitcoins I had completely forgotten about. I copied the file over to my computer, downloaded Bitcoin-Qt and let it synchronize with the network, so I can expend/transfer the coins, or move them to another (possibly paper) wallet, since right now I'm feeling kinda insecure.
I have a couple questions regarding how to handle this, and I figured this would be a good place to get advice. Here are my questions:
  1. Are paper wallets a good choice to store coins in the long term? Or should I buy a secondary computer, install linux and only use it for BTC? I've seen both advices in threads here and I'd like to know what's the safest approach to store the Bitcoins in the long term. What app should I use to generate the paper wallets?
  2. Is it a good idea to split the Bitcoins into multiple, smaller wallets? If so, what is a value you guys think it's good to store on each individual wallet for enhanced safety? 100mBTC? 500mBTC? 1BTC? Am I going to loose a lot of money in transfer fees if I split my money into multiple wallets like this?
  3. Is it a good idea to diversify the money into multiple alt crypto currencies like litecoin and primecoin? I've read in some places that litecoin is a "pump and dump" scheme, but I'd like to know if this is really the case, and why.
  4. When importing the paper wallets back into Bitcoin-Qt I read that you can lose money because of a generated "change address". Should I be worried about this if I go the paper wallet route?
  5. What is currently the best way to take the money out of BTC and into "the real world"? Should I use an exchange like mtgox? Over the counter exchanges over IRC? Or is it a better option to buy goods in sites that accept BTC?
Thanks in advance!
submitted by TheCoreh to Bitcoin [link] [comments]

The ASIC Endgame! Why money is work.

You and your team put on an excellent show! The reporting and high quality interviews do not go unnoticed! I especially enjoy all of the conference presentations you've been able to record and air.
I was hoping to hear your team's opinion on what Sneak had to say about mining scalability and "the endgame of ASIC mining." Given the time spent discussing the consolidation of mining and altcoins on your show, his contrasting opinion on mining was a welcome addition to what seems like a recent paradigm shift among you and your co-hosts. I'd love to hear more technical arguments on "the ASIC problem."
Sneak said in Episode 32 (37:50), "There's no proof of work that we can design that is resistant to someone who is willing to spend... dollars" In my opinion, it is hard to refute this statement for a few simple reasons:
  1. If mining is profitable, speculators will continue to invest in new hardware. This creates a market for hardware manufacturers also seeking profit.
  2. The hashing power of the network will eventually increase in relation to Moore's law so long as it remains profitable to mine.
  3. Proof-of-work only exists to secure the network from double spending. Bitcoin's SHA256, Litecoin's scrypt, and Primecoin's proof-of-work all accomplish the exact same goal: find a number at a predictable rate by adjusting the target as computing power increases.
  4. Knowing that mining is limited by the upper bounds of Moore's law, we can assume that any hashing algorithm based on computational work will eventually be limited only by current day tier-1 fabrication techniques, die size, and transistor count. If a coin's value creates a market for specialized hardware, we arrive at the same place. A miner is only limited by by how much money he wants to risk in purchasing new hardware. Adam, as you correctly stated in the episode, "money is work."
With the above points and Sneak's comments in mind (https://www.youtube.com/watch?feature=player_detailpage&v=9k4GP3Evh9c&t=764), how is litecoin or any other altcoin less susceptible to mining centralization?
Thanks again for the great interview!
submitted by jron to letstalkbitcoin [link] [comments]

pl guide me on this as I am regularly working in your sites?

SUB: pl guide me on this as I am regularly working in your sites?
Thank u. As u are Senior, Experienced & Able in this BitCoin Etc. Currencies pl guide me on below in detail:
  1. I am doing since 1 year and getting satoshi which are going to FaucetBOX.com,microwallet.org,pay.in etc. and I really dont know how to get it to exchange/sell from there? Will anyone will guide me on this how to get my earned satoshi, litoshi, bitcoins etc. and where to sell and how to get into my bank account in India? Pl guide me step-by-step on this which will useful to me and many newbies like me. Now have a look at all sites I am doing for mutual benefit and growth. If U knows any high earning sites let me know.
  2. Is value Satoshi received from bitcoin sites, litecoin sites, primecoin sites, peercoin sites, doge coin sites, dark coin sites, black coin sites etc is EQUALLY or having different values? If Different Values what is the different values for satoshi for each site?
  3. Is there any difference in value of SATOSHI getting from different sites? Means if i get 100000 satoshi from BitCoin site is equivalent in Prime Coin site/Lithoshi Site/? Preethoshi Site? Peercoin Site? Dark Coin Site, Black Coin Site, Virta Coin Site etc. other allied currency sites
  4. What is the EXCHANGE RATE for Lithoshi? Preethoshi? Peercoin? Dark Coin, Black Coin, Virta Coin etc. against DolloaBitcoin?
  5. How Many Satoshi is equal to US$/BitCoin in PrimeCoin/Lite Coin/PeerCoins/Doge Coin/DarkCoin & other like wise currencies
  6. What is EXCHANGE RATE FOR "SATOSHI" against US Dollor & Bit Coin?
  7. What is the Best Way in detail to get our money from FaucetBOX.com to our Bank Accounts in India?
  8. Recently I earned 280000000 Satoshi from Doge Coin Site? How Much it values in US$/BitCoin?
Please reply above as I AM SERIOUS WORKER IN THIS UR SITES and 2 know what about these. Thanks for your all pains. Have a Nice Day! Bye
submitted by samlazarus to primecoin [link] [comments]

Peerbet.org Now Accepts Namecoin!

Hey Everyone,
Many of you already know us so I will skip to the important part: We just implemented Litecoins, Namecoins, Peercoins, and Primecoins to Peerbet. Currently you can play with all these currencies on the Wheels. It is still in somewhat of a trial mode, so deposit/withdrawal delays could be expected in the next few days. If everything goes well, we will also add it to Raffles, and to Bit777.
For those who don't:
We are happy to inform you about the release of Peerbet 2.0! The much anticipated release includes a few key features!
Peerbet.org - the first online gambling platform with zero house edge and without negative profit expected value for the players! It is really free: players compete against each other, not against the gambling site and there are no hidden costs or commissions. 100% of the revenue comes through ads.
In any casino or online gambling site like Just-Dice with non-zero house edge players will always lose playing long term, but in the truely zero-sum game (i.e. where no house edge or any other commission fees applied) players will NOT lose anything playing infinite long.
We offer raffle-style game in which users can create rounds with an arbitrary number of tickets (from 2 tickets to 10 million) and the price for a single one (from 1 Satoshi). This allows to choose any winning odds and profit expectation. When a game is created, players can start buying tickets and the game will be complete when all tickets sold and next Bitcoin block generated.
Peerbet is provably fair. When a game is created, we generate a random nonce and publish its SHA-1 hash. When this game is complete (all bets are made), we wait for the next Bitcoin block, and then concatenate its hash with the nonce's plaintext and use this value to determine the winner. This approach lets you to ensure that the Peerbet operator cannot possibly change the outcome of the game before it completes, or even to know its results ahead of time.
We store wallet with all funds off-site on the encrypted HDD and have its backup copy. Every 24 hours we perform backup of the database. Even if the server will be hacked, no funds will be lost. White hat hackers are welcome to check security of the server and report any vulnerabilities to me.
Good luck playing! https://peerbet.org
Peerbet is being owned and operated by Bit777!
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BREAKOUT COMING!! for BITCOIN LITECOIN and ETHEREUM crypto price prediction, analysis, news, trading LITECOIN HALVING APPROACHING - WILL LTC PRICE FALL? PrimeCoin & Quark Bitcoin Trading talk The 1 Bitcoin Show- Litecoin & Beam? Value of BTC is greater than attention! Ethereum, ErisX Free Bonus 100 Gh/s - Bitcoin - Litecoin - Doge - USD $ Mining - Earn Unlimited Bitcoins

Primecoin price today is $0.032145 USD with a 24-hour trading volume of $6,991.75 USD. Primecoin is up 18.54% in the last 24 hours. The current CoinMarketCap ranking is #1244, with a market cap of $1,085,119 USD. It has a circulating supply of 33,757,166 XPM coins and the max. supply is not available. You can find the top exchanges to trade Primecoin listed on our Much like Bitcoin, Litecoin also does not have a set exchange rate in the beginning, so its price is fully determined by the markets’ perceived value by supply & demand. It is also worth noting that the block rewards of Litecoin follow the same halving schedule as Bitcoin, going from 50 LTC to 25 LTC, to 12.5 LTC and so on every 4 years. Primecoin Discovering New Prime Numbers. Primecoin, like Bitcoin and many other digital currencies, uses a proof-of-work algorithm for mining. However, rather than using the Hashcash method that is used by the other currencies, Primecoin instead uses an algorithm that searches for, and verifies, specific types of prime numbers. Unlike Bitcoin, Litecoin uses the memory intensive Scrypt proof of work mining algorithm. Scrypt allows consumer-grade hardware such as GPU to mine those coins, meaning that you can still mine Litecoin on a Mac or on Windows either solo or via a pool, something no longer possible for Bitcoin mining. Scrypt, by design, is more accessible for users that want to mine via CPUs or GPU, as ASIC ... How much Litecoin is 3 XPM? Check the latest Litecoin (LTC) price in Primecoin (XPM)! Exchange Rate by Walletinvestor.com

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BREAKOUT COMING!! for BITCOIN LITECOIN and ETHEREUM crypto price prediction, analysis, news, trading

🌟BITCOIN, LITECOIN, and ETHEREUM all LOOKING TO BREAKOUT SOON!!🌟 🔥My Wife's CRYPTO MERCH page: https://inkurimage.com 🔥 🔻 Trading Exchanges 🔻 🔥 BYBIT exchang... Support the stream: https://streamlabs.com/cryptocapitalventure In this Litecoin video, we discuss bullish target of Litecoin price. We also look at support ... Thanks for watching, make sure to subscribe, like and share Link: https://goo.gl/27quic FB Link : https://goo.gl/Q6Txeh if any query then chat with me on FB ... Primecoin Explained {XPM}{Ψ} - Duration: 7 ... How to BitCoin mine using fast ASIC mining hardware - Duration: 27:15. Barnacules Nerdgasm Recommended for you. 27:15. Why I left my $200k job as a ... The litecoin halving of 2019 is fast approaching. Litecoin is currently putting in it's 7th consecutive green monthly candle. Is a litecoin price pullback im...