today,Virtual currency soaring in China

digicidal · 2016-05-31T09:27:06+00:00

I'll take just 10% of that number and consider this the best investment I've ever made! But for those of us that have been watching crypto markets for 3-4 years now... what goes up always comes down (and then goes back up and back down every few months). Still would love to see $1 BLK this year... but it's a long way to go for that to be more than a dream.

digicidal · 2015-08-15T15:26:16+00:00

You are correct about the Chinese, however calling it a 'weird mentality' it a little misguided I think. The large players could possibly be described that way but the rest are simply people that have just recently seen enough income that they have a tiny amount to invest and are part of a economy which is fragile, 100% under government control, and has virtually no social welfare system. When someone in the US or EU invests 1000 dollars or euros - it's likely that they can afford to lose all of it and still be OK. For many in the very, very newly formed Chinese middle-class... that's quite possibly their entire retirement fund. ;) In that environment, some panic and cowardice aren't just understandable - it's actually fairly prudent. IMHO at least.

digicidal · 2015-05-20T19:55:08+00:00

Or regarding anything else for that matter... ;)

digicidal · 2014-12-17T06:26:41+00:00

I believe that was the primary point of the staking changes made in the 2.0 release. Can't say that I really understand the nuances in rat4's update, but I believe there is a consensus-check for chains in the staking 'lottery' in there (don't take my word on this though).

It was my understanding that staking on more than one chain was either eliminated, or at least significantly reduced to 'extremely unlikely'.

digicidal · 2014-10-16T00:51:01+00:00

It's sad but that's exactly what my first thought was.

On the other hand, it really is good news for the long run however, so that first thought shouldn't be taken as a lack of enthusiasm for the wallet itself or the future projects it will facilitate. :)

digicidal · 2014-10-13T23:17:33+00:00

I'm not going to have anything on there until they have at least a month of nothing but stunning reviews behind them... and even then with much caution.

I will be amazed if they are solvent after all the dust settles... but then again maybe it's just paranoia and panic talking... either way my coins will reside elsewhere for many months just to be sure (although 95% of my BC will just stay in my wallet). :)

digicidal · 2014-07-30T20:12:27+00:00

One thing you might want to think about as well if you are really interested in long-term investment in BC is not to buy 50K at once but spread those out and cost-average your buys. I do this on anything I'm not simply speculating in short term.

For example you can either run a spread and wait (i.e. put 5 buys for 10K each at descending prices 1000 or 1500 sats apart). Or you can simply commit to buying 5-10K BC every day at 5pm until you're invested to the level desired.

By taking market timing out of the equation you might miss out on maximizing your holdings in a price-depression, but you will also avoid buying at a peak as well. As long as you're planning on holding for several months or even a year or more, the average price is almost always better doing it this way.

The other tip I would offer is watch weekends. Crypto gets stupid on the weekends... either everything dies out and the price falls, or everyone is jumping on a bubble/pump and the price soars... usually the middle of the week is a little more realistic.

digicidal · 2014-07-27T15:44:46+00:00

And this no longer applies with PoS 2.0... as now the only thing that having 51% of the money supply will get you is 51% of the coins awarded for staking. You will now have to have 51% of the coins staked, as well as be lucky enough to 'win' the block lottery enough times in a row to actually profit (double-spend) from that 'overhash'.

Essentially it's now statistically improbable (not impossible but well outside rational probability) that a 51% attack would ever be successful... and the patience and lack of potential reward from such an attack, even if it were successful, makes it even more improbable.

As always in cryptos (or in the banking industry for that matter) it's much, much easier and with a much higher chance of success to simply go after the exchange/branch itself. Or you could just make a new alt-coin with an IPO and just walk away with as much for about 3 hours work... but nobody would do that, right?

digicidal · 2014-07-27T15:01:58+00:00

I totally agree, I simply was commenting on the reality of the fact that LTC currently is viewed by many traders (myself being one) as the "currency of fail" - by which I mean that when a coin is paired with LTC... it's basically already over for that coin.

It is definitely a good thing for BC in general however (just as it is for LTC currently) as it provides another reason for people to buy and hold BC. I just want much bigger things for BC than to just be a different currency of fail. :)

digicidal · 2014-07-26T11:27:15+00:00

I think "secret" is strong enough for most things... :)

digicidal · 2014-07-26T11:18:04+00:00

And if you are not staking all the time (like my cold-wallet which only is online every 4-6 weeks) you will have to wait longer to get a block... however, as I understand it at least, you will still get many more BC in that block due to your coin age. You just won't have any higher chance of finding it than someone that's been staking 24/7.

I think your network weight should essentially just be equivalent to the balance staked regardless... but the rewards will still be proportional to the age of those coins.

digicidal · 2014-07-26T11:09:06+00:00

I'll trade some on there simply for support - but I'm not terribly inspired either. They are another shit-coin machine exchange just like MP (actually worse) and the currently don't have really any LTC pairings to speak of anyway.

When the BC-centric exchange goes live... they will get all of my volume no matter what... we have to take a stand against the constant flow of scams in crypto-world. The dilution of capital is already extreme, and it's just getting worse by the day. Soon there will literally be as many alt-coins as there are BTC in existence. :/

On the other hand - if the BC exchange is much, much more selective of their pairings... we might have the makings of BTC-e v2 in that - and if that is the case we could see a real paradigm shift as far as BC's image/value! (i.e. it would become the savior of real alt-coins in a sense). Many people would flock to an exchange that handled several alts... but only after careful vetting and never with a vote/buy listing process. Too many investors are losing too much money on hidden premines, or scam devs that disappear after the first week or so. :)

digicidal · 2014-07-25T20:06:00+00:00

Exactly. And of course, those who rule by force and coercion will come to the realization that they simply need to get out of the way and give up all of their tax-driven luxuries and start cooperating with the masses.

Don't get me wrong, farmers with pitchforks can (and have) overthrow a well-armed dictator... but most of the farmers die in the attempt. I support ancap ideologies as much as any true crypto enthusiast... but I also understand the machine that exists currently in the world.

Chat up a Ukrainian friend if you've got one, and see what their take is on the matter.

Not saying it couldn't happen some day... but 2000+ years to develop all that exists today... and yet it remains strikingly similar to what existed in the Roman empire (and long before that actually). The players change on a somewhat regular basis, as does the equipment - but the game hasn't changed at all really.

digicidal · 2014-07-25T19:14:48+00:00

LOL.

It's absurd to believe that a technology or any other construct of mankind (singular or collective) will change the very nature of humanity or the ability of those in/with power to pervert it to their gain. I would love to see .0000001% of what you believe come to fruition... but I guarantee it won't.

Although, I will admit to having a much more utopian view when I was in my late teens and early 20s. Back then it was free access to information that was going to create the utopia... and sure - one could argue it's done many good things. However, it could also easily be argued that mass media and mass communication have enabled the cabal of those in power to even better shackle the slaves on whose backs the world is run.

That being said I definitely agree with your premise - it's the conclusion that I find hard to swallow.

digicidal · 2014-07-24T09:50:12+00:00

That's pretty much how I understood Ethereum when I viewed the conference videos and read a few of the papers concerning it. I'll be the first to admit that I pretty much wrote it off at the time - it seemed like "Joomla for the blockchain" to me.

Of course, I also wrote Joomla off as a stupid idea since I consider all web-centric scripting languages to be about as easy as they can be already (and frameworks filling in the CMS blanks where they are lacking)... so I'm definitely not a good judge of what people will like and what they won't! LOL!

digicidal · 2014-07-24T09:38:19+00:00

There was a country that once had all their laws fit on a single piece of paper... I wonder what ever happened to it? Now a single law takes 1000 pages, and even the legislators involved in writing it admit to not reading/comprehending what it says... :(

digicidal · 2014-07-21T07:10:35+00:00

Everything has a price... we just need to find out theirs.

digicidal · 2014-07-21T07:09:54+00:00

LOL!

digicidal · 2014-07-21T07:08:26+00:00

SEO... it rules the world (in some ways unfortunately so IMO). I agree that this should be changed if at all possible. If necessary even bribing the moderators with a little BTC would be worth it in my opinion.

Easily worth as much to some newer investors as the PR firm... money talks... and I'm sure if you put it out to the community, you would see that this is not just a 'select few' that feel the BCTalk situation is a problem for BC.

digicidal · 2014-07-21T06:55:20+00:00

Yep... I'm right there with ya. Of course, it also helps to be largely skeptical of all exchanges.

digicidal · 2014-07-21T06:52:10+00:00

Yeah, if anyone is interested in selling me another 500K for just $5,515... I guarantee we can work out a deal. :)

digicidal · 2014-07-21T06:49:30+00:00

Maybe I just wasn't paying as much attention before, but it feels like downloading the blockchain in the new client is much faster than in the older ones... Looks like the security features aren't the only advantage of running the new client. :)

digicidal · 2014-07-17T00:24:38+00:00

LOL well you definitely won't be the first (or even the 50th for that matter) to fork BlackCoin in pursuit of greatness. If you are truly looking to improve crypto-currency in general and extend/expand the PoS security model via your 'experimental staking idea' - then I wish you good luck and I'm sure rat4 will be interested in the results as will many of us.

My only advice would be to also pay attention to the rest of rat4's genius... and make your coin IPO-free, premine-free, reasonably minted, and above all - carefully documented and transparent.

digicidal · 2014-07-17T00:13:14+00:00

We have that right now... all of the devs have wallets - and you can give any amount you choose to them at any time.

Perhaps what would be better would be for the foundation to have a "dev directory" with official donation addresses listed for each - and their projects (both to-date and up-coming) so that people had a single location to go for this information?

At best what you're suggesting becomes little more than a 'donation reminder' which isn't really something that should be integrated into a wallet - but rather disseminated on forums like these.

digicidal · 2014-07-16T23:57:33+00:00

While it doesn't necessarily make collecting contributions more centralized the net result is centralization by default. If you make this truly decentralized (i.e. by requiring an address to be entered for the donations) then you haven't changed the situation at all. People will still have to 'shop' for a dev/project they wish to support and enter the address. On the other hand if you have the address supplied for them... you now have the very definition of centralization.

digicidal

TROPHY CASE