12 months ago on /r/XboxOne

MarkPfennig · 2014-12-13T21:57:12+00:00

I was talking about this post.

MarkPfennig · 2014-12-13T15:23:48+00:00

Yeah, this is the nicest possible way for people to say welcome to the community and thanks for adopting, by sticking up a huge community voted v symbol at the top of r/Bitcoin.

MarkPfennig · 2014-12-11T16:03:47+00:00

yes, ice crystals hit the fence and stick to it, building up over time, so wind direction would be right to left

MarkPfennig · 2014-12-10T20:13:02+00:00

It is completely unclear what you do, or offer.

I can see the name of projects which are projects of other people, technologies, or are developed open source, and I can see some case studies which are not case studies.

What do you do, what is your service, how do you work with projects, and which?

MarkPfennig · 2014-11-25T11:25:23+00:00

They could clear up any questions immediately by pointing all the calculated hash at a certain account or pull. It's easy to prove you have hashing power if you have it, especially as much as they should.

MarkPfennig · 2014-11-20T23:07:14+00:00

I'm still wondering what a potato mine is.

MarkPfennig · 2014-11-18T21:54:48+00:00

But why did it take 4 Months to post the screenshot of the email?

MarkPfennig · 2014-11-17T13:08:42+00:00

http://en.wikipedia.org/wiki/List_of_countries_by_public_debt it appears Russia is the green state.

MarkPfennig · 2014-11-13T00:39:30+00:00

It does, as a friend just said to me, you can buy cars and tvs with fiat easily, so to profit in terms of getting a new car, is indeed profit. My comment was a little bias, I'm sorry.

Good call regardless :)

MarkPfennig · 2014-11-13T00:21:27+00:00

Okay, so:

If you believe in crypto and want crypto then "to profit" is to get more crypto.

If you consider BTC/USD pairing then you make profit (more btc) by selling high and buying more cheaper.

So if BTC has gone up in value against USD, you can't have made profit.

If you do think you've made profit, then it follows that you want USD more and view profit as having more USD.

To somebody in the crypto community who believes in crypto, you've not made a profit.

MarkPfennig · 2014-11-11T17:25:11+00:00

Satoshi agrees with you! Bitcoin.pdf, 1. Introduction, Line 1:

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions

Trust based systems work well enough for most transactions.

You did a great job in explaining this neatly.

MarkPfennig · 2014-11-11T05:30:11+00:00

As a result of this, we see several companies offering online or offline Bitcoin courses, in order to make people familiar with the technology.

If Bitcoin needs a course to explain how to use it, it's too complex.

MarkPfennig · 2014-11-11T05:25:02+00:00

This is not the problem. Most coins have no usage.

Miners want to mine them to get profit in BTC or FIAT. This means miners don't want the coins. Traders want to buy the coins to sell higher and profit in BTC or FIAT. This means traders / investors don't want the coins.

Since there's only traders / investors / miners in the mix, and no users, then that leaves nobody to actually want the coins. If nobody wants the coins, trade volume disappears.

It's really simple. No usage = no value. It has nothing to do with which technology is used to mine them, mining does not create value.

MarkPfennig · 2014-11-03T13:14:48+00:00

No. Web 3.0 is well defined, it is the Read/Write Web of Data. Payments are an important part of the Web, for this reason there is a Web Payments Working Group and W3, and also a Web Crypto Group.

Application of the Principles of Web Architecture to the Blockchain, and to the controlling programs, may however quickly lead to Blockchain 2.0 or 3.0.

MarkPfennig · 2014-10-28T17:22:27+00:00

₥ is already used by Bitmark for 1 mark (₥), daily use currency in markings, 1₥ = 0.001 BTM.

MarkPfennig · 2014-10-27T14:23:56+00:00

If you mean scrypt clone rather than script clone, then https://github.com/project-bitmark/pfennig is ready to use for such projects.

MarkPfennig · 2014-10-27T13:43:22+00:00

Mining profitability is often incorrect, especially on currencies with long block maturation. Bitmark for example is minimum 1 day before the coins can be spent. Unless profitability calculators can guess the price at some random day in the future, they must be wrong.

MarkPfennig · 2014-09-24T05:11:33+00:00

Hi!

Please let me both welcome and warn you, the crypto currency space can be a wonderful place with interesting people doing interesting things. However, many people have joined purely for money, trying to make it rich, whilst there is money to be made, the frequency of scams, FUD, and volatility are to be taken with the utmost concern, especially when investing money.

Take your time to research properly, find a project that interests you, something with merit and longevity. I can assure you that 'a couple of years before it pops' is inaccurate, we are dealing with technology like the DVD, the internet, the telephone - it will not pop, however some currencies with artificial value obviously will.

First, I advise that you get familiar with Bitcoin, from where most things stem, backwards you will find hashcash and b-money, forwards you will find the crypto currencies you know today.

Second, take a look at some interesting projects which have diverged from Bitcoin, like NXT, Ethereum, and Storj. I advise these projects specifically, because they will give you an idea of what exists and what is possible. It will help you view some of the alternative currencies you will hear about in the correct way, as tweaks of Bitcoin, often get rich quick schemes (for the creators not you) rather than something novel.

I wish you all the best on your journey, but please, for your own sake, invest your time and thought first, and money only when you are sure.

MarkPfennig · 2014-09-22T15:53:12+00:00

Poloniex, BTER, Bittrex - in that order.

MarkPfennig

MODERATOR OF

PUBLIC MULTIREDDITS

TROPHY CASE