Resolved, Early Cryptsy.com Issue - Page 6 ...

Reasons You May Want To Avoid Monero - Posting By Request

**Notice, I posted this originally in Cryptocurrency; however, they deleted the post and shadowbanned me. Below is the entire contents of my post. Hopefully you guys find this useful. I post this because I'm beginning to become concerned about the similarity in tactics that bitcoin uses and the monero community uses. It appears also that they have mods in high places, kind of like they tried to do here with that one mod who kissed up to Ver, ready to shadowban and hide any information that puts them in a bad light. Without further ado, the post:
**************************** EDIT ***********************************************
Apparently some are questioning the contention that I was shadow banned. A mod from cryptocurrency had this to say:
I'm a mod on /CryptoCurrency. Your post was not removed, and you are not shadowbanned. The misinformation spread here is outrageous.
Well, here's the proof:
This is one of the attempts I made to repost the thread after being shadowbanned, just to make sure. Notice how low the view count is, I search this today but it was created on the 15th:
https://imgur.com/a/29g1T
Here are the results when I try to search for it:
https://imgur.com/a/05eZH
And here is my reply to that mod below:
Then you're a liar and I'm glad you came out. I ended up having to post the thread 3 times, and each time after logging out I could not find it. As a matter of fact, I STILL cannot find it while logged in. https://imgur.com/a/15s4C Notice, my original post was titled the exact same with the exception of the '- posting by request' part. So the fact that you can only see the crosspost from btc is proof that my post was removed.
That Imgur link was my search for the original thread. If that's not shadowbanning then I don't know what is. Again, the monero community has mods in high places and are using them to push their agenda, just like bitcoin did.
***************************************** END EDIT ********************************************************
Everyday on here you can see great news about Monero. From soon-arriving hardware support, to bulletproofs reducing tx sizes 80%, to the recent Globee fundraiser announcement where musicians will accept monero over the holidays. That stuff is good news for Monero indeed. However, to bring a little balance to the equation, today I want to consider some reasons you would want to AVOID monero.
Disclaimer, I hodl BCH, PIVX, Dash, ZCash, ZCoin, VTC, ETH, MAID and XMR and some other coins. I'd say most of these are considered competition, at least by the XMR community. None of that influences my posts. I post about LTC being shit because I believe it is shit. Indeed, it was shit for 4 years until it got on coinbase. That has nothing to do with the fact that I hodl BCH. Same for my posts about BTC, and the same for my posts about XMR.
The reasons you may want to avoid monero are as follows:
1) Monero's price may be manipulated by Tether, DNM's looking for a quick P&D, and exchanges looking for the same.
https://twitter.com/FrydayNiteLites/status/938093777347997697
https://www.tradingview.com/chart/XMRUSDT/dgYThYjA-Monero-Is-Manipulated/
2) Monero's most attractive and user-friendly wallet, mymonero.com, is closed-source. What's more, it is run by the lead developer of the XMR project. You may consider this a conflict of interest. It is telling, that fluffy's (the dev) refusal to share source with Jaxx was instrumental in their decision to abandon XMR integration earlier this year.
3) When monero began it actually began from SCAMMERS. Monero's code originally had a crippleminer that deliberately lowered miner rewards for all but the devs. Apparently the current devs are 'not the same people'. But that is a leap of faith to make. You may want to avoid it.
https://www.reddit.com/Monero/comments/4r4fw9/what_is_the_monero_cripple_mine_and_fastmine/
4) Monero and their community are heavily associated with out and out scams. One such is basically forcing users of certain websites to mine monero without their consent:
http://www.newsweek.com/500-million-pcs-secretly-mining-cryptocurrency-research-bitcoin-683982
The monero community does not seem to have a problem with this.
5) The monero community has a history of vote-brigading, FUDing perceived competitor coins (Like ZCash, Dash, and PIVX). Some of their early antics can be seen here:
https://bitcointalk.org/index.php?topic=1233817.0
Some gems:
Excellent summation of the sock puppet/troll accounts and stuck in needlessly long loops for mining, good luck to anyone who pursues the hidden agenda of this coin because you are going to need it.
He is. And when he is challenged on logic, it is often myself. But the point against smooth made by the OP is that he argues ad nauseum even where there is no point and it is wasting time. He tries to control the entire forum. Logic can be a means to an end, but is not an end unless you just want to be mired in verbiage. The real world is where we deliver 10 million new users to the ecosystem.
None of the Monerotards have done that and they will never do that because they target this forum instead of targeting creativity and respecting it. They prefer control over creativity. They want everyone to think their expertise is the highest and nothing else can match their collective capabilities. Yet the reality is they don't even have the best technology, even against a non-cryptographer and a non-mathematician. Boastful groups are like Humpty Dumpty.
This shows how they shilled their threads on Bitcointalk early on:
I counted close to 800 topics on Monero!
One topic alone has over 540 pages..
I highly doubt there is even 100 users with coins.
Pretty sketchy when after years now they can't get their crappy coin on Cryptsy LOL
Here, they tried to impersonate Andreas Antonopolous (yes, THAT Andreas) to pump Monero:
https://forum.bitcoin.com/post3253.html#p3253
Quote from Moneroshill:
AndreasAntonopoulos wrote: Good to hear your 'voice' again Charlie!
Fungibility is not a luxury, it's a necessity. I've been following Monero for some time now and I like what I'm seeing. The Bitcoin protocol has more potential as programmable money if it co-exists with another public ledger that is private and opaque on the protocol level. The best version of digital cash I've seen to date is Monero. Bitcoin on its own will never be anonymous, so never fully fungible.
Actual quote from real Andreas:
This is an impostor account, using my name (Andreas here) to pump Monero and diss bitcoin. I have reported and requested validation from the forum to confirm my identity.
See my tweet proving this is my real account: 655293052383133696
Lol this was their reply:
wtf ... you banned a user because you didn't like his/her choice of username and avatar, or you didn't like their point about fungability? Can you post the forum rule user 'AndreasAntonopoulos' broke to require a permanent ban and deleting of his/her posts? Is this forum instituting identity checks and KYC policies now, or was this user banned because you claim he/she was a malevolent imposter? Please, what is your username and avatar policy on this forum? I saw what he/she wrote and recognized it as a parody spoof immediately, and the user was clearly not trying to defraud anyone, and admitted their intentions as soon as AA posted. I thought this forum was started in response to censorship at bitcointalk.org. It looks like you didn't like the user's message, and you saw a way to ban them to remove their opinion
Well, you get the idea.
6) The biggest reason: Monero's privacy was actually broken for 3 out of the 4 years it existed. Link 2 Andrew Miller, a respected cryptography, posted research in April proving that Monero transactions could be deanoned using a form of blockchain analysis. You can go here to see the results of the research for yourself.
7) Monero is slower, has larger transactions and is FAR MORE expensive than other privacy options like PIVX and Zcash. Using PIVX to convert to zPIV is basically free while the avg monero transaction is around $5. Of course, to be extra safe they recommend that you 'churn' your transactions, basically send them to yourself again. But at $5 a pop, this is prohibitively expensive for the average guy.
These are not reasons to SELL your monero, nor are they reasons to avoid it entirely. I've said in the past that I like XMR the coin, but the community has shady origins that may give some investors pause. Bytecoin, from which XMR descends directly, is a KNOWN scam. The original developers of monero were DEFINITELY scammers. This advice is the other side of the coin to the constant monero pumping you can see here. Happy investing!
submitted by Truthertruther21 to btc [link] [comments]

Thoughts on the current state of Bitcoin from someone who participates in much of the ecosystem [and tipping thread ;) ]

Hey guys,
So this is something I've been looking at for a while now, and kind of seeing some things die and other things be born. Some things are getting easier, and other things getting more difficult. I want to take this time to outline the last few months and how my sentiment is reflected towards the market. I have to say, the market generally matches how my "emotions" playout towards the ecosystem as a whole.
I'll outline just a few short things on both the bearish and the bullish sides of my sentiment, even if things don't effect the overall sentiment much (at least according to most traders and people) I'd like to point them out because I view them as notable.
Some of the not so good things that have been happening:
Anyway, in many respects it feels like a lot of the bitcoin ecosystem is dying, and maybe we should all panic, cry, and shit our pants, but a few things haven't been going badly, and in fact, I'm looking optimistic that the next time a surge of new users enters the market for whatever reason, there will be a much more developed and kind ecosystem to take part of. No one is going to be touting the next 5 second confirmation coin, no more of the ubiquitous "investment" opportunities that await the uninitiated.
Other than my love for bitcoin in general, this is what makes me not panic sell, and what keeps me optimistic about the bitcoin future:
Alright guys, thats my sentiment overview, and I hope it wasn't tl;dr for most of you. But one last thing I want to point out in terms of user growth. We need to break out of our comfort zone. We need to help people get into it. That btctipping dude? He has the right idea, except, it does kinda feel like he's promoting his own website? I dunno? Anyway, Changetip some newbies. Just the other day in the reddit lounge I tipped a guy a coffee, and he then said "Man that was evil, now I have to spend the next hour learning all about bitcoin"... who knows, maybe his sentiment that the media helped paint is one shade lighter now just from a a couple millibit tip. You can do that too, and I'm here to help you get started. I've got some millibits to give away, give me some awesome feedback, criticism or build your own thoughts on this thread. I tip you, then you go pay it forward. Lets do this!!!
submitted by googlemaster1 to Bitcoin [link] [comments]

Coin-a-'Week': Peercoin (PPC)

Coin-a-Day Jan 3rd
Well, it's been more than a month since my last post, so I figured it's time to finally do this. I'm barely updating these, but I think it's somewhat interesting to see the changes that have happened over the almost half a year since I first wrote these.
Welcome to the third Coin-a-DayCoin-a-Week post! So far in this series we have talked about bitcoinbitcoin and dogecoindogecoin, which are proof-of-work coins. Today's coin is Peercoin (PPC), which is a "proof-of-stake" coin (actually a hybrid; more below).
Summary
• ~22 million available currently [1]; ~35 million in 2025, ~50 million in 2045, 1% annual inflation permanently [2]
• All-time high: ~$7 [3]
• Current price: ~$0.50; ~0.0017 BTC$0.30; 0.00128 BTC [1]
• Current market cap: ~$10.9 million $6.6 million [1]
• Block rate (average): 10 minutes [4]
• Transaction rate: 520 408 transactions in the last 24 hours, estimated ~$213,000 $83,600 [5]
• Transaction limit (currently): 7 transactions / second (?) [6]
• Transaction cost: Fixed at 0.01 PPC edit: per Kb [2]
• Rich list: Top 100 addresses hold 59.25% 59.52% [5]
• Exchanges: BTC-E mostly; BTC38 (Chinese); some volume on Cryptsy, The Rock Trading, and BTER as well [7]
• Processing method: Hybrid; proof-of-work and proof-of-stake
• Distribution method: proof-of-work block rewards and 1% inflation through proof-of-stake
• Community: Moderately active. [8]
• Code / development: https://github.com/ppcoin/ppcoin ; appears inactive, last release in April, last commit five months ago; however, developer Sunny King continues to give weekly updates and has announced an upcoming "cold-minting" feature [14] EDIT: Active pull request in progress. pull request; announcement; I was informed about this from the comment below; thanks Thireus !
Latest 0.5 version will be a mandatory upgrade with a two month release window. [15]
• Innovation or special value: First coin with proof-of-stake
Description:
So far we have covered two proof-of-work coins. This was the original type of coin. Peercoin introduced the concept of "proof-of-stake", where authority to generate a block was determined based on a brute-force hashing to reach a value less than a certain amount. In Peercoin's proof-of-staking, there is only one to check per unspent wallet-output per second, so there is very little demand for processing power and energy. The difficulty is decreased with increased coindays [9].
This model is argued by Peercoin supporters to be more efficient, since it obviates the need for a hardware arms-race and allows transaction processing by all stakeholders. The incentive for the stakeholders to "stake" (process transactions through proof-of-stake) is two-fold: first, in order to collect their 1% per coin-year reward, and second, to support the network they hold coins in, since the value of the coin is presumed to be related to the stability and reliability of its network.
There are a number of attacks which are argued to be possible in proof-of-stake which are not possible in proof-of-work [10]. There was a vulnerability which allowed generating a larger number of proof-of-stake blocks with a very small stake which took four months to close after public disclosure [11]. I wish I could provide a definitive answer about the security or vulnerability of this coin, but I am simply unaware of a good source at this point [12]. I have not found a "smoking gun" critique of the current system, but absence of proof, particularly when my "research" (googling) is so limited, and my exposure is so brief, is absolutely not to be taken for proof of absence. Today's challenge will focus on the security of Peercoin, and there will be a small reward for the best defense and the best critique.
Compared to the question of "is it secure?", I think the rest of the nuances like price history are relatively insignificant. In general, I expect that secure coins will continue to be transacted at some price level, and that they will often share a certain level of correlated price. Remember that I am not giving advice, but that's my take on it. So if there is no vulnerability to proof-of-stake, I expect it will continue to exist. And just as bitcoin has a strong place from being the first and having an active community, I expect that Peercoin would continue to have a place as the first proof-of-stake along with its smaller but also active community.
I had my concerns about the security resolved when this was posted. Like a whiny chump I'd gone through and deleted all of my stuff in a fit of pique, but the useful comments by TotalB00n are still there and may be useful reading.
The inactive development may not be an issue for now if there are no serious threats to Peercoin. Additionally, its blockchain is quite small, about 1/3rd of a Gigabyte currently[13], so the major feature of bitcoin's latest release, parallel block downloads, may be less relevant for peercoin.
[Note that the edit above on the code section is from the original time around. I'm too lazy to even look up whether or not there has been further development since, but it was at least somewhat active before, and perhaps didn't really need much.]
Community
Peercoin's community on Reddit (/peercoin) is relatively small, with less than 4k subscribers and no more than a couple posts a day. However, it appears on-topic and high-quality.
http://www.peercointalk.org/ looks active and significant. It is not comparable in size to a central hub like bitcointalk, but it is by no means dead.
There are additional community links on peercoin.net which I haven't explored.
Footnotes
[1] http://coinmarketcap.com/currencies/peercoin/
[2] https://github.com/ppcoin/ppcoin/wiki/FAQ
[3] http://www.cryptocoincharts.info/paippc/usd/btc-e/alltime I couldn't find anything just stating the number. And the UI here is terrible. But this approximately matches the coinmarketcap ATH in BTC with the BTC/USD at the time.
[4] http://en.wikipedia.org/wiki/Peercoin#Confirmations ; I wasn't sure if this accounted for PoS accurately as well, but given the last few hours shown at https://bkchain.org/ppc it does appear to be close ; don't ask me how it works, haven't taken the time to grok the whitepaper in detail yet ([9])
[5] https://bitinfocharts.com/ppcoin/
[6] I wasn't able to find a source addressing this. I'm presuming that since it's based on bitcoin and has 10 minute blocks, that it also shares the 1 Mb blocksize limit and that transactions are about the same size and thus the same 7 transactions / second current limit applies. I could absolutely be wrong about this; if you know better, please let me know and I will update. Given that this allows 604,800 transactions per day, and there weren't 0.1% as many transactions in the last 24 hours, I think it's safe to say this isn't a limiting factor for peercoin in the foreseeable future.
[7] http://coinmarketcap.com/currencies/peercoin/#markets
[8] Not as active as doge or bitcoin, but it looks like there's activity on http://www.peercointalk.org/, and /peercoin is quiet but not dead.
[9] http://www.peercoin.net/assets/papepeercoin-paper.pdf ; also available in many other languages (http://peercoin.net/whitepaper)
[10] http://www.reddit.com/CryptoCurrency/comments/2r6sqb/section_of_paycoins_source_code_designating_a/cnd096x 110101002 makes allegations along these lines. However, none of the critiques seem to be relevant and aware of the current Peercoin code. The claim is made that it was made centralized but I'm not aware of a Peercoin source that seems to make this claim. There are probably far better critiques and defenses of the security of Peercoin's proof-of-stake out there. I don't know how to best find them. This will be the topic for the challenges for this article.
[11] disclosure; acknowledgement; fix
[12] I have heard claims about "nothing-at-stake" attacks, which are based on the idea that a user might have stake in the system, then get the stake back, sell it, and then try to make their own chain building off the point where they had stake. This seems conceivable to me, but I do not know anywhere near enough to be able to make a reasonable argument one way or another. Unfortunately, most of the discussions on Proof-of-Stake seem more about ... well, there's no way to phrase it politely, but they don't seem to be reasoned consideration of the merits but just static.
http://www.peercointalk.org/index.php?topic=2351.0 - This is an example of a critique which is shot down. Is it valid? You decide. From reading their view of it, it sounds like not.
[13] http://www.reddit.com/peercoin
[14] I found this relatively late in my process glancing over /peercoin. http://www.peercointalk.org/index.php?topic=3733 The details of this feature will be considered out-of-scope for this article, already taking longer than I anticipated (as usual).
[15] https://www.peercointalk.org/index.php?topic=4107.0
Additional Reading
http://www.peercoin.net - main site; informative and useful links
/peercoin - somewhat quiet but still active and informative
https://bitcointalk.org/index.php?topic=793142.msg8933791#msg8933791 - Peercoin discussion thread
Peercoin whitepaper - (other languages available)
• peercointalk.org - Main discussion forum
Daily challenge
~~Every day I post a challenge worth about $1. The first two day's are still unattempted. Yesterday's has been awarded.
Today's challenge focuses on Peercoin security. A changetip $0.50 tip will be awarded to the comment which in my opinion provides the best information about vulnerabilities in Peercoin's current consensus algorithm / implementation. This may be a link to a source that provides this information or a comment, but a comment referencing fixed problems or simply asserting issues without support will not be accepted as qualifying.
On the other side will be a 1 PPC reward sent to the Peercoin address of your choice for the best argument supported with evidence that Peercoin's consensus algorithm is not vulnerable to any attack. This is a very broad claim, and I wouldn't know how to support it myself, but that's why I'm throwing it out there for discussion.
Making an argument for both sides is allowed and encouraged.~~
[I don't remember if I ever paid up on this. I think I might owe TotalB00n a couple PPC...]
Donations and Disclosure
It has come time again for me to note that I am not an authority nor should my words be used for anything other than entertainment. I am not providing investment advice and you should do your own research independently before you make any investment decisions. Cryptocurrencies may lose all value from technical flaws or simply a loss of faith in their value. Store your treasures in heaven, not on earth nor even in a blockchain. Be gentle and loving in deed and in thought.
I currently hold about 17 PPC.
If you would like to donate PPC to me directly, you may do so at: PDcpAFGWEAJDTey6ghY4FRvvphXv9zkjmn
Thank you all for reading and all of your support! This has already been a great experience for me and I'm looking forward to the excitement still to come.
Well, it doesn't get much lazier than that. Apparently PPC has dropped in price rather significantly since January. I don't know any of the news on it. Informative, eh?
...okay, I'll do a mild amount of "research". One moment.
Well, they have a new release coming out. [15] But I don't see anything obvious from a quick glance at top stories in that subreddit over the past year to see why it crashed over the last five months.
So...hey, let's go really lazy. Rather than me giving you the answers, why don't you tell me wtf happened here? xD
Up next: Nyancoin!
submitted by coinaday to CryptoCurrency [link] [comments]

Moolah's Day 5 Announcement states they are opening a new exchange. I've got an idea that may be the Nitrous to our Rocket Fuel!

Link to Moolah_'s Day 5 Announcement:
http://www.reddit.com/dogecoin/comments/1xxi5f/day_5_not_with_a_fizzle_but_with_a_bang/
A New Exchange (Rocket Fuel)
One of the biggest items in Moolah's roadmap is a new exchange, with super low fees, and much quicker confirmation times. All amazing stuff! However, the most notable portion in the announcement is this (direct quote):
Trade digital currency against FIAT currency, or digital against digital.
Digital currency against FIAT is definitely an amazing leap forward. I believe this makes Moolah the third exchange that does DOGE/USD, right behind Vault of Satoshi and ANXPRO. To the moon! But what's more interesting is the last bit of the quote. Digital against digital? What does that mean exactly?
On Cryptsy, to purchase DOGE, you must buy and sell between BTC or LTC. This makes sense. Both Bitcoin and Litecoin are considered mature and stable. However, the ambiguity of digital and digital has me thinking. And, you probably already know where I'm going with this...
The Idea (Nitrous)
To cover my bases, Moolah's Exchange may already have this feature implemented without releasing the details to the public. If I'm blowing the cover on this one, my apologizes. D: But like I said, digital/digital is pretty ambiguous, and it could mean [any coin]/[any coin]. But that would be crazy, right?
HOWEVER, if [altcoin]/DOGE isn't in the works, then let's try to make this happen, yeah? In my opinion, this would be bigger than DOGE/FIAT. This would mean Dogecoin wouldn't be just any altcoin, or any popular digital currency, it would mean Dogecoin sits in Mount Olympus, at the Round Table, is one of the Holy Trinity; this is the big, BIG time.
What do you guys think?
An Apology
Alex @ Moolah, I know you're on vacation, so sorry for being yet another guy to drag you into the thick of this sub. :) But, I grew up in the information age, and I want to know things as soon as I want to know them! And you have a staff now, so I'm assuming they'll be involved in some higher level fielding of questions soon.
submitted by cpt_merica to dogecoin [link] [comments]

MAD DOGE - 10/16/2014 - BUY

Moolah is dead
That sums up the news. MADDOGE OUT!
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I guess we should do a whole analysis thing, so let's get started.

NEW NEWS / OLD NEWS

Let's get to it.

Market Analysis

So as this new news is hitting the market and the price is likely to drop again, all I can say is.....BUY

Quick definitions

If you have any questions, please let me know, I'm here 24/7!
Also, if you want to learn anything in general, I'm fairly knowledgeable.
Oh and before we regain popularity, I'll go ahead and remind you that all posts on /maddoge are secret giveaways. (shhhhh)
submitted by DRKMSTR to MADDOGE [link] [comments]

Introducing Digibytes!

Hey /scrypt mining, I know everyone's favorite coin is doge right now, but I've been mining something else right now and its been very profitable. At 2.7 m/hash I've been mining about 40-50$ a day, and its only sold on one market. As soon as it hits cryptsy, it should soar in value as investors buy into it. Judging from past coins like doge, it should double to triple in value. It also has a long list of qualifications that make it better to mine than other coins. For one, the developers of the coin have remained heavily involved in the community and the further development of the digibyte market. They manage their own professionally designed website, a twitter page, a facebook page, the list just goes on and on. They also posted exactly where premine funds went, which is transparency that we don't see from many developers. Digibytes also has an incredibly fast transaction speed. And I mean REALLY fast. Like coin transfers take less than a few seconds. That makes digibytes a more likely candidate for use in the real world. Say you want to buy some coffee? The transaction only takes a second or two to confirm and then you're good to go. Digibyte's maximum number of coins is 21 billion coins or 1000:1 against bitcoin. That means each Digibyte in the future should be worth $1-$10, which is a sensible value. No one likes to deal in decimals, 1,000 digibytes is a lot more tangible. You guys should definitely check it out and mine a few coins. Once the net reaches 2000 mhash it should get put up on cryptsy, and we can bring this coin to the top! You guys can find more information on the /digibyte subreddit and on the official website at www.digibyte.co. Thanks for reading and happy mining!
submitted by SketchyPotato to scryptmining [link] [comments]

Rooting for LTC's Rally to Hold: Nyancoins and the Cryptocurrency Market

This is the text which I was on my way to post when my car sprung a minor gas leak and delayed me about 12 hours up to now and a few days waiting for the gas tank to arrive.
Note: I've gotten rather constipated in terms of posts for /nyancoins. That is, I've got a lot of ideas of things to write, and notes and drafts, many even almost ready to post.
But the final stage is the strict editorial cut of what's worth putting here and cluttering it up. Ultimately, I might need to have a draft post location. For now, I just need to catch up on the backlog, which I'm planning to do in the next couple days.
This is arbitrarily the first of many posts I'm going to make reiterating and going further with my plans to rebuild and grow Nyancoins to infinity and beyond.
Also, this sort of turned into a megapost/ramble, which ends in another statement of my Nyancoins gameplan.
I don't believe that cryptocurrency is a zero-sum game. I believe that we are creating value in various ways, some obvious and some rather subtle. I believe that the value of Nyancoins should tend to rise with the value of other cryptocurrencies, in particular the ones it trades against, which is BTC and LTC explicitly and DOGE implicitly, since we're starting to recognize DOGE/NYAN as a concept, even if I've been too lazy to make a nice chart showing the implied rate explicitly.
Eventually, I want to see a Nyancoins-based exchange opened, that is, all the trade pairs being relative to NYAN. A MEOW/NYAN market, for instance, would be very interesting.
I'm looking at the MEOW/LTC market right now (albeit, granted, offline in the woods at time of first writing here). I own 47 million MEOW right now. So I actually hold an almost comparable amount of MEOW despite spending far less on it than NYAN. Interestingly, on Cryptsy, this is at its high rather than at its low.
AFAIK, MEOW has a similar Scrypt base. That is, I think it's a clonecoin of the same type as Nyancoins. I should confirm this when back online, but this is a great example of how we can use another cryptocurrency usefully. I'll introduce an analogy here that I was going to otherwise make its own post:
BTC:[LTC/DOGE]::NYAN:MEOW
That is, just as DOGE is BTC's cute little sibling, which is actually quite powerful and useful in its own right, as well as very fun, MEOW can be the utmost noob-friendly welcome zone, where coins can flow around freely. Just as LTC allows for cheaper transactions than BTC and smaller transactions than BTC, so MEOW could be cheaper if in some far distant future the fees were actually significant (let's say someone wants to be able to do lots of 'dust' transactions as markers; why not let people store all sorts of data on the blockchain? some blockchains are deliberately small; we can afford to bloat some others for whatever value we can get from that). It can also be used like a test network.
I think it would make sense for the Nyancoins community to eventually support MEOW as well. Because it has the same technical base, this should be a useful leverage of our experience. We will continue to learn and grow more and we'll develop as a community which is aware of and involved with many other cryptocurrencies. Nyancoins are, of course, my favorite coin. But there are uses for other cryptocurrencies. We can get code from them, we can practice on them, we can trade with them, and so much more.
MEOW are available for 32+ LTC satoshi right now. So MEOW/NYAN is trading approximately like LTC/BTC at the moment. Now, I hope for NYAN to ultimately rise in trading value against everything. So I would see MEOW dropping consistently in value in time against NYAN, even if slowly, and even if rising against other assets itself. Similarly for my expectation for LTC. That might seem to contradict my initial, title premise.
Mais pas de tout ! But not at all! I hope for LTC's rally to hold because it implies a floor. I don't expect LTC to beat BTC, certainly not after its history so far. But I haven't been paying that much attention and I've been surprised over and over by cryptocurrency so far.
If LTC were to beat BTC somehow though...well, I think this would be an excellent sign for NYAN. Consider LTC: it was even worse performing than BTC last year (so were we [although I was not part of 'we' then]). If it could ultimately come back to not merely rally after a long slide, but ultimately beat BTC in the long run, even (as long as we're smoking crack anyhow) rising to above parity with BTC for some reason (without it just being like one cent versus two cents USD after some major fundamental crash), then that would be the recovery of a terrible-performing clonecoin, the original clonecoin. If it recovers, then NYAN can improve merely by matching and rise with tailwind if we keep beating it. If it actually beat BTC, it shows clonecoins can become dominant.
But that unlikely possibility is not necessary for Nyancoins to rise against all of them, in my opinion. Actually, one thing LTC has which has helped them to keep such a large market cap, an area where they are far ahead of us right now, is their dedicated, fanatical, nigh-masochistic hodler core, which is somewhat vocal on [ /litecoin ?].
I believe that what we need in order to ultimately beat every other asset, as I often reiterate, is to keep consistently improving on our community, technical, and financial strength. If we do this, then in the months and years to come, we will create value and we will see that reflected in the numbers. That's as true in our personal life as in life as a Nekonaut.
As far as community, we need more readers, subscribers, posters, and commentators. We're far better than, say, six months ago, but continuous improvement is critical because improvement here is part of building the value of Nyancoins. One idea I had just now was trying to reach out to various other communities again to try to seed ours, such as libertarian and cypherpunk types, or, actually, visual design, web design, dev, sysops, programmers, all tech types, anything that we can do to start pulling more of those into the community will have a significant positive impact in long-term value.
It's about taking people forward one step: for instance, most of /programming probably hasn't heard of Nyancoins, but they have heard of Bitcoins. If I can write a decent software engineering type post for there about the project of making Nyancoin clients and use a concept I've had about clonecoins being somewhat analogous to linux flavors to talk about how these projects work in general, it might be interesting enough to get a bit of attention. For people who are already readers, this type of additional, deeper content might help to inspire people to take a step further in, whether it be to subscribe, or post, mine, or buy.
These sorts of well-tailored marketing outreaches will expose an outside audience to the story of what Nyancoins is trying to accomplish, in whatever perspective is most relevant and interesting to them. And we should link these from Nyancoins too so the core readership can see these various sorts of aspects, like a commentary on the maintenance of clonecoins from a technical perspective.
This segues nicely into continuing to grow the technical depth. Right now, our major shortage is consistent hashing power, but we can certainly afford to have more backups in all areas, from support, which is critical and has gone from weak to fantastic, and not because of my work, to anything and everything (for instance, we have a couple block explorers up now; but more are great practice and backup too. And we often get a slightly different feature set too).
We haven't had anyone step up to make any new Nyancoin core client code in a long time, which has been a bad sign in my opinion. This is something I believe I can do, and it would be an incredible personal achievement for me if I could; a gift I could give to the whole community. Which is not to say that I would be disappointed if someone showed up tomorrow or a minute from now with a NYAN 2.0 github repo, but if it doesn't happen, then I intend to do this.
It's definitely going to be a significant challenge, but that's a lot of what I like about it, because it's achievable, it just requires dedicated work chipping away over time.
In the meantime, we've had an amazing ecosystem spring up from the community, which has inspired me to the confidence to make the leap to try doing the work on the client.
In financial, we need more bids and higher. But we haven't had the major dumps in a while, and hopefully that will hold. If it doesn't, then some patient bidders will get some cheap NYAN again. I've finally got a lot of those bids built up myself again (for a while I was hand-to-mouth enough with my CryptsyBTC that I wasn't able to, and, for instance, was buying around 60 satoshi without those lower bids before the 10M dump which touched as low as 1 satoshi, and thus I missed out on the most recent cheap Nyancoins myself), though by no means all of them.
Personally, I'm starting to think seriously about getting a 'night job', metaphorically though possibly literally too, in large part in order to help fund more Nyancoins buying. In my opinion, Nyancoins' current low spot price is a major weakness to further advancement, although it's of course something of a symptom as well. But I figure if I can go even a few more months of buying, I could possibly get a lot more NYAN (or at least be able to keep giving it away without going down in total), particularly if someone dumps, and I could help to strengthen the weakest part of Nyancoins' recovery until we're able to attract or build more buying strength in the community.
I've got a lot more to say about my plans, but I had to start somewhere, so here we are. I should also write about my latest fires and getting stuck (and unstuck) in the mud, as the grit and determination and success I've had in those pursuits is going to be refocused onto Nyancoins. So far, this has been just for fun for me. Which is not a bad thing; it's the title of Linus Torvalds's autobiography and a great way to live. But there are a lot of cool ideas I want to see put into play here, and it's going to take time and work online rather than just sitting in the woods dreaming, much as the latter is a more enjoyable pursuit. So I'm coming down from the mountains and I'm going to spend a few months seeing what I can do with this.
edit: Holy shit: take a look at that DOGE surge! I've got no idea what's going on over there, but I wish them well! Of course I want Nyancoins to ultimately be the strongest, but as the whole point here is, I believe we rise best if we are part of a rising community.
submitted by coinaday to nyancoins [link] [comments]

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