Growing from failure, learning from the critics
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[quote name=“zerodrama” post=“7459” timestamp=“1369746588”]
^ THIS.Reminds me of Microsoft trolls complaining about Linux not being up to snuff. Okay. Where is Microsoft in the Internet scene?
Like Blondie said, “Dig.”
[/quote]Yes and in the end the market settled for 3 main players, OS X, Windows and Linux. Good point. Given that there are many hundreds of national currencies globally how many crypto currencies do you think the global market will accept?
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We’re going to see currencies valued by distance and quality of living in a particular city. This will require:
megachains that are global
metachains that combine the hashrate
blockchains that serve an given area
parachains that serve a given industryStrap yourself in. It’s gonna be like the maiden voyage of the Enterprise.
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@aysyr thanks that was very helpful.
[quote name=“zerodrama” post=“7472” timestamp=“1369748067”]
We’re going to see currencies valued by distance and quality of living in a particular city. This will require:megachains that are global
metachains that combine the hashrate
blockchains that serve an given area
parachains that serve a given industryStrap yourself in. It’s gonna be like the maiden voyage of the Enterprise.
[/quote]
So much to like about this :) -
[quote name=“zerodrama” post=“7472” timestamp=“1369748067”]
We’re going to see currencies valued by distance and quality of living in a particular city. This will require:megachains that are global
metachains that combine the hashrate
blockchains that serve an given area
parachains that serve a given industryStrap yourself in. It’s gonna be like the maiden voyage of the Enterprise.
[/quote]Good thing about crypto currencies is that they are easy trade-able.
So there could exist a good portion of coins i think. -
[quote name=“zerodrama” post=“7472” timestamp=“1369748067”]
We’re going to see currencies valued by distance and quality of living in a particular city. This will require:megachains that are global
metachains that combine the hashrate
blockchains that serve an given area
parachains that serve a given industryStrap yourself in. It’s gonna be like the maiden voyage of the Enterprise.
[/quote]Sounds great, I think understood that :o
As long as we keep the Sporks from winning I’m ok.
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[quote name=“justabitoftime” post=“7451” timestamp=“1369745251”]
Credit for Tuck for reminding me of this thread:This directly from Coblee:
"
Quote from: iopq on October 09, 2011, 06:23:47 AM
what’s the difference between this and fairbrix? also, what’s the guarantee that you won’t get 51%'d and lose like a crapload of coins?==
Fairbrix, like Tenebrix, has no cap in total number of coins. So it keeps inflating forever. Litecoin will have a cap similar to Bitcoin. Also, Fairbrix average transaction times is 5 minutes with 25 coins generated in a block. Litecoin is 2.5 minutes with 50 coins in a block.
One of the goals of Litecoin is to not change what’s working (from Bitcoin) unless there was a good reason to. Litecoin is also forked directly form the Bitcoin source code, so it won’t have any new security holes that doesn’t plague Bitcoin also. One of the reason why the first Fairbrix launch failed so miserable is because it is a fork of Tenebrix, a fork of Multicoin, a fork of Bitcoin. And somewhere in those forks, a nasty bug crept in that caused things to go horribly wrong."
Coblee understood that there was a lot more to a coin than whiz bang technical innovations. The same people that mock Feathercoin because of it’s Litecoin fork, never bothered to understand how Litecoin came into existence. Instead, we have this ‘BroCoin’ mentality of young guys running around beating their chests, failing to understand how products survive the market and using cute little phrases such as ‘ScamCoin’ ‘CrapCoin’ etc…
Tonight’s homework (for everyone): I want you to ask your parents (or non techy friends) what are the technical differences between how Money Gram and WU processes payments. Ask them what are the primary TECHNICAL differences between the Visa and Mastercard networks. They don’t care. The market wants a solution that makes sense financially, readily available and supported.
We’re developing our own innovations (see features_development board) however, that has zip to do with market penetration. What will make our coin successful is the niches we find and the support we offer those segments. Trying to explain that to a younger generation, especially those with a purely technical background is a challenge. This is the same challenge that businesses face each day with engineers.
[/quote]Hmm. I guess what I am wondering from a perspective of adding value and innovation to a coin is…what does Feathercoin do better than Litecoin?
Litecoin obviously fixed the bugs generated in FBX, TBX etc.
What does Feathercoin offer?
I like the community vibe but from a technology standpoint what does Feathercoin do better?
I’m curious why there was no change in the the hashing algorithm to deter miners from quickly shifting from one chain to another scrypt chain?
Just wondering…those are fair questions.
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[quote name=“Smoothie” post=“8610” timestamp=“1370108090”]
[quote author=justabitoftime link=topic=953.msg7451#msg7451 date=1369745251]
Credit for Tuck for reminding me of this thread:This directly from Coblee:
"
Quote from: iopq on October 09, 2011, 06:23:47 AM
what’s the difference between this and fairbrix? also, what’s the guarantee that you won’t get 51%'d and lose like a crapload of coins?==
Fairbrix, like Tenebrix, has no cap in total number of coins. So it keeps inflating forever. Litecoin will have a cap similar to Bitcoin. Also, Fairbrix average transaction times is 5 minutes with 25 coins generated in a block. Litecoin is 2.5 minutes with 50 coins in a block.
One of the goals of Litecoin is to not change what’s working (from Bitcoin) unless there was a good reason to. Litecoin is also forked directly form the Bitcoin source code, so it won’t have any new security holes that doesn’t plague Bitcoin also. One of the reason why the first Fairbrix launch failed so miserable is because it is a fork of Tenebrix, a fork of Multicoin, a fork of Bitcoin. And somewhere in those forks, a nasty bug crept in that caused things to go horribly wrong."
Coblee understood that there was a lot more to a coin than whiz bang technical innovations. The same people that mock Feathercoin because of it’s Litecoin fork, never bothered to understand how Litecoin came into existence. Instead, we have this ‘BroCoin’ mentality of young guys running around beating their chests, failing to understand how products survive the market and using cute little phrases such as ‘ScamCoin’ ‘CrapCoin’ etc…
Tonight’s homework (for everyone): I want you to ask your parents (or non techy friends) what are the technical differences between how Money Gram and WU processes payments. Ask them what are the primary TECHNICAL differences between the Visa and Mastercard networks. They don’t care. The market wants a solution that makes sense financially, readily available and supported.
We’re developing our own innovations (see features_development board) however, that has zip to do with market penetration. What will make our coin successful is the niches we find and the support we offer those segments. Trying to explain that to a younger generation, especially those with a purely technical background is a challenge. This is the same challenge that businesses face each day with engineers.
[/quote]Hmm. I guess what I am wondering from a perspective of adding value and innovation to a coin is…what does Feathercoin do better than Litecoin?
Litecoin obviously fixed the bugs generated in FBX, TBX etc.
What does Feathercoin offer?
I like the community vibe but from a technology standpoint what does Feathercoin do better?
I’m curious why there was no change in the the hashing algorithm to deter miners from quickly shifting from one chain to another scrypt chain?
Just wondering…those are fair questions.
[/quote]Perhaps you can address my comments above.
Thanks
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On a technical stand point the difference is four times as many blocks, four times more frequent difficulty adjust at 41.4% and an IPv6 fix that has not been applied to Litecoin yet.
The IPv6 and difficulty change came after the initial release. This is the difference really. We are not afraid to change when faced with a problem. There are many features that have been requested by the community that we will implement.
When Scrypt ASICs come along we will have to decide whether we will continue the same hashing algorithm or change it. This will be a community decision and something that should not be a real concern for a while yet.
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Please point me in the direction of the proposed changes you mentioned.
Link to thread? Discussion?
thanks
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[quote name=“Smoothie” post=“8641” timestamp=“1370110719”]
Please point me in the direction of the proposed changes you mentioned.Link to thread? Discussion?
thanks
[/quote]
