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
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!
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:
Home Mining/Trading/Altcoins: Not too long ago mining was still fun for the home miner with nothing but a GPU. I'm talking a mere couple months. The altcoin section of bitcointalk is/was by far the most active. People didn't care if the coins were in fact pump and dumps or not, but people would bet on their horses and either flourish (like some of my friends did with Mazacoin) or, if got in at the wrong time, was utterly decimated. Darkcoin was a small revival of that hype, but now the market caps of these altcoins and "pump and dump" coins, have all been figured out by the community, and too many of us have been burned to support any alt coin much anymore. I still hold some, but I often ask myself why I even bother? I left 1 BTC worth of alts in cryptsy months ago, and now its a a mere fraction of that, as you could imagine. This sounds like a good thing, but those same months ago, I had a couple friends mining with GPU's and figuring the whole crypto world out. Now they maybe have $100 worth of bitcoins for shits, but they are most certainly not going to go out and buy any Antminer S3's or other similar relatively cheap miner. Gamer nerds are quite simply, priced out now for the most part.
Gambling World: The gambling world (up until a couple days ago, but I'll get to that later) didn't have much development or innovation, and user growth was probably (after the Just-Dice incident in particular) in a negative spiral. It seems that if you've followed the BTC gambling scene for a while, you've seen sites come and go (much like altcoins), and for those of us that don't check the forums and reddit everyday, a lot of consumers or newbies could have been burned hard by some of this.
"Good news" brings the price down: This seems to be counter-intuitive to most, but to some of us bitcoiners who trade/forecast/follow the markets a little closer, and not only that, are familiar with trading other assets as well, definitely get skid-dish of this apparent ecosystem flourishing without a quickly growing community to back it up. (Sure our reddit subscriber count is going through the roof, but how about our active users? You look at the trading volume, transaction volume, or real user growth etc. it just seems like it isn't growing that fast (But this isn't that bad, and there are things all of us can do to help that, I'll get to that below, DON'T WORRY, this isn't a whiney, complainy bear thread).
Waning enthusiasm for the broader ecosystem: It seems people are almost numb to all the good news, and the bad news just sends us into a panic. Granted, the amount of bad news since Gox/China has been pretty damn minuscule other than bigger ecosystem and development problems. The amount of sites I involve myself in the cryptosphere has been cut into a fifth or less of what I used to do. Think coindesk, The bitcoingroup talks (which seem to have dropped off a bit in popularity, no offense but it was a little corny, but I still liked it <3), I still listen to Lets Talk Bitcoin, but probably not as much as I used to, and I think a lot of the die hard bitcoiners feel similar. I mean, in a given morning it could be: 2-3 altcoin pools/sites/subreddits, cryptsy, coindesk,reddit, bitcointalk forum, ischinaawake.com, btc-e for trollbox hilarity, and many others. Now? Probably this subreddit, and the mining section of bitcointalk. I rarely check the price anymore, maybe once a day, but I'm never hoping for moon, I just want stability while we all work to get out our products and projects and things that we feel could make a difference, not only in the bitcoin world, but the rest of it too. There was an IRC channel where people would talk about cryptostalks and all the next ones and this that and the other, now I wonder if anyone even actually uses that site for anything anymore. Maybe people were scared off by regulation and Fincen? Who knows....
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:
The Local community has returned to where I live, in a big way: Bitcoin meetups were getting mixed turnouts, so much so that the two organizers just decided to stop having them altogether. I felt slightly guilty of this, because it was a lot of different kinds of folks coming for a lot of different kind of reasons, which is totally fine, but there never was a comfortable intermingling of all involved. Not everyone became friends after, and many of the first timers weren't hellbent on coming to the next one. However, we just had our last bitcoin meetup and there was over FIFTY people there. This was insane. Not only that, a member from the bitcoin foundation, several local startups, and businesses were there giving presentations. I got shithammered drunk and even exchanged a number while I was there. And get this, I was sitting at a table with two girls? And spoiler alert: They weren't the only two girls there. Woah. This is the bitcoin future!
Merchant adoption: is at a rabid dog pace, and Bitpay, Coinbase, and others are doing amazing. Most yC startups could only dream of getting this far. It seems to never end, and although people don't care as much, its still awesome. Like, I felt there was more hype when Jimmy Wales talked about accepting BTC, than when he actually did, granted its a weird not obvious way to donate, BUT, we are almost desensitized to merchant adoption now because its so rampant. Newegg, Dell, 5200 businesses on coinmap (ok, I lied earlier, I still totally check coinmap). But yeah, Merchant acceptance all day long. Oh, and Lyft on Gyft.... mmm life savingly awesome!
Remittances is becoming a reality: All the time we are seeing services targeting Mexico, Argentina, The Philippines and other countries trying to get things done over there just a little cheaper than Western Union. Granted some are a little more built out than others, but 37coins, and other services similar really excite me, and hold a lot of promise for an application bitcoin can really accel at. Everyone remembers Andreas Antonopoulos planting that seed in our heads a while back, and business sees it too. It's happening, but this shit doesn't happen overnight, however, we have our work cut out for us. We still have a "chicken and egg problem" when it comes to user adoption. Thats where we, the bitcoin community, needs to step in.
Some of the Dark parts of the eco-system are alive and well again: OpenBazaar (its coming), SR2, yeah its still a thing... PD3, came out over the weekend, PvPing with faucet money, was a fun time killer just to see how things are going... Nothing I want to focus on too heavily, but we all know Gambling is a great app for bitcoin, and we (the community) pioneered provably fair gambling. The best part is, the people in the space know who is honest and uses it.
Mining isn't yet extinct for the home miner and the hashrate is GROWING: I know I said that it kinda is above, but I am an at home miner with some S3's scattered about. I do fine, and am well on my way to ROI. I watch the hashrate grow everyday, and that tells me that bullish sentiment sure as hell exists on the long term. I mean, if you are willing to invest in specialized hardware to the tune of millions of dollars, you are in it for the long haul. This market is too illiquid to "cash out" of for the bigger players, so we know they are all hodling. A lot of the ASIC manufacturers are hodling as well, including Bitmain. So maybe the price is taking a dive, but the hashrate hasn't seen negative growth in a LONG LONG time Jan '13 it seems.
User Growth IS Happening: 2 million Blockchain wallets anyone? New wallets and services coming out all the time. Kryptokit, Hive, Mycelium trader, etc. etc. Maybe it isn't happening as fast as we would like, but it is happening. But this isn't like pokemon, you can't just see it on the TV and start catching your bitcoin. For the uninitiated, this shit is CONFUSING. We need to help out. And we need to casually give bitcoin, tipping in other sub-reddits as opposed to gold, helping friends get setup. Just YESTERDAY, someone asked me about coinbase and how to buy it, and I set them up with coinbase, told them about 2FA, and gave them the tools they need to fish. The past couple weeks I've actually gotten a couple people into bitcoin, which is the first time in a couple months, so for whatever reason, interest seems to be picking up again, which is cool.
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 ; ~35 million in 2025, ~50 million in 2045, 1% annual inflation permanently  • All-time high: ~$7  • Current price: ~$0.50; ~0.0017 BTC$0.30; 0.00128 BTC  • Current market cap: ~$10.9 million $6.6 million  • Block rate (average): 10 minutes  • Transaction rate: 520 408 transactions in the last 24 hours, estimated ~$213,000 $83,600  • Transaction limit (currently): 7 transactions / second (?)  • Transaction cost: Fixed at 0.01 PPC edit: per Kb  • Rich list: Top 100 addresses hold 59.25% 59.52%  • Exchanges: BTC-E mostly; BTC38 (Chinese); some volume on Cryptsy, The Rock Trading, and BTER as well  • 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.  • 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  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.  • 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 . 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 . 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 . 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 . 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, 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  http://coinmarketcap.com/currencies/peercoin/  https://github.com/ppcoin/ppcoin/wiki/FAQ  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.  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 ()  https://bitinfocharts.com/ppcoin/  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.  http://coinmarketcap.com/currencies/peercoin/#markets  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.  http://www.peercoin.net/assets/papepeercoin-paper.pdf ; also available in many other languages (http://peercoin.net/whitepaper)  http://www.reddit.com/CryptoCurrency/comments/2r6sqb/section_of_paycoins_source_code_designating_a/cnd096x110101002 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.  disclosure; acknowledgement; fix  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.  http://www.reddit.com/peercoin  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).  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.  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!
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.
Moolah is a bit old news by now, but it's important to note that it may be dead, but there are still many other cryptocurrency exchanges and companies that accept Dogecoin, so don't freak out.
What is in fact new news is that the CEO is turning out to be a long-time scammer (see the link), it's not 100% confirmed, but the evidence is quite convincing. (Such Reality)
On a lighter note, the DOGECAR is back! (MANY VROOM) (and that's a very serious "many vroom") Josh Wise will be racing in the Geico 500 on Sunday OCT 19th, be sure to set some time aside to see the beautiful Dogecar do some excellent racing.
The Dogecar now has an official site and there's a ton of swag available. We're not just talking your average everyday swag, we're talking right-out-of-the-pit swag. (Very Confirmed) You can even buy the official crew shirt here: Such Official Link
Dogecoin, currently 5th on coinmarketcap has fallen to near a 24.4 Mil market cap as of 8:10PM, that's fairly close to 6th place, where NXT is currently hanging out (23.3 Mil).
Dogecoin Volume has dropped through the floor, the shock sell-offs have taken the price down a whole 10 satoshi.
A large if not larger factor on the value of DogeCoin is the recent shift in BitCoin, keep an eye out, a $50 rise in BTC value can blow whales back out of DogeCoin, which can result in some price dropping.
The calculated market estimator is still in beta and can only estimate small market changes, once I obtain some long-term data (Please MSG me if you can find any accurate long-term data in spreadsheetl/CSV/JSON format)
My personal value on Dogecoin has remained the same, around 70 satoshi, buy below, sell above. I usually don't sell until around 74.
So as this new news is hitting the market and the price is likely to drop again, all I can say is.....BUY
Yes, I know not very many posts have happened and I know not very many people are keeping up with us, we're working on returning, I thought I'd first define a few things.
Referral Links - This is not my primary source of income, but it always helps to get a few doge this way. I WILL NEVER post referral links where you are at a disadvantage. All cryptsy, BTER, etc referrals are used since they do not cost you anything and they help keep things going.
ADS - Not doing those, I'll only do product placement that I have tried and used and most importantly, APPROVE of the product.
Youtube - I'll keep videos to a minimum, but I'll still post a few that I find important. Perhaps a few tutorials, once again, no Video ads, just banner ones.
Secrecy - There's only three reasons I am allowed by my own rules to be secretive, surprises (only good ones), and IP (Intellectual Property), and Personal Info (Within reason) all other things are open game, feel free to ask, I am very open and want you to understand I'm risking investments too, that's why I started MADDOGE, so other people can join in on the discussion.
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)
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!
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.
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