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raspi last won the day on March 5 2015

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  1. Thanks, just read your article, great points, I do agree with most of it.. Have a point to add, the growing inflation of fiat currency driving the price up.. Bitcoin as with other cryptocurrency, are suppose not to have a inflation, so when matching a inflation currency against a non-inflation currency, the default direction is that the price ratio is going at the rate of the inflation rate. So, given time, if bitcoin is still around and has lots of acceptance, it can hit >USD$1000, Just that maybe by that time, it cost $50 for a cup of starbucks coffee. (side point, as you've said, concentration of mining, so moving towards FPGA for scrypt mining isn't really moving forward for the coin, it should be using what is most abundant => CPU, so whales will have a hard time controlling it. - which may lead to another point, big boys- gov, big corp,etc, may pushing forward for bitcoin to be accepted just because they have control.)
  2. No worries, its not the end of the world.. Its a great to have, not a must have.. so don't burn too many brain cells over it..
  3. Wow, thanks for the explanation.. its very clear.. and I get it.. So, we are all just really wasting energy so as to compete against each other for a limited flow of coins by the increase in difficulties. I understand the whale 51% attack part, but isn't it true that if the algo is kept at using just a CPU based, the whale has a much harder time to gather the power. since there are more CPU in the open then there are GPU, FPGA and ASCII. Thus, the power is really in the hands of the public and not just some whale who manage to set up some big farms and using FPGA and ASCII are easier for whales as they have the $$$ and there are a limited number of people who will be getting a FPGA or ASCII just for mining. As to finding a meaning for the extra computation power as a mean of flow control, really, I do see a great potential to that, its there, especially so when mincoin is now considering to move away from scrypt, so why not look for a soul too. primecoin is a great example, it does prime numbers, only does it using CPU (not to sure how is the GPU development going.) It has a soul - prime numbers. and its a cryptocurrency at the same time. I understand the greed part, of wanting profit, so why not integrate both? example we used, protein folding, thus everytime it finds a protein structure match, it is a block, instead of using difficulty as a flow control, why not flow control the block payout per time range. thus if more blocks/protein match, the lesser the coin payout. Thus per minute, only 2 coins, so if within that minute there are 100 blocks found, it will give out 0.02 coins per block/protein find. in the next minute, only 10blocks found, it will give out 0.2 coins per block. Non of the extra computation power will go to waste as increasing loops in the UN-needed calculations. I am sure there are many many more technical and non technical details that need to look into, but hope mincoin can be moving towards the holy grail. A commodity coin with a soul. => it makes money at the same time has a worthy cause too.
  4. Haha, great.. hee.. hmm.. pre baidu as in the chinese website?
  5. Thanks for the info, notice the new wallet is released.. but its just a windows version.. (I know can compile from source, but was hoping for binary with static linked.. so that I don't have to install those dependency files.) Thanks
  6. Hi, missed downloading your linux build.. but you've removed the files already.. Is it possible to put it up again? like to test it.. Thanks..
  7. The point is to avoid multi-pool mining that just switch in and out creating a high difficulties for loyal miners and cutting away the profits from the loyal miners when the difficulties drops. I am actually more supportive of CPU mining than GPU or even FPGA mining, as CPU mining would means every single person in the world will be able to mine it. Not everyone has a GPU and not everyone can afford a $8K-$10K FPGA just to mine some coins for a beer gathering or for fun or support.
  8. Just like to ask a question, what is the minimum hash rate that mincoin requires to perform its normal day to day transactions(coins confirmation, transfer, etc...) If the difficulties is low enough to perform all the coins basic requirement. is it true that any increase in difficulties is just simply adding extra computationally and electricity wasteful difficulties to control the flow of coin distribution. So as the coin gets more popular, the more people mine it, the more wasteful is to the earth natural resources. Isn't it better to turn that extra computation power for a better use, like protein folding or something. thus if at bare minimum, all computation is 100% to coin support, if increasing computation, flow controls kicks in (difficulties), but by dividing the work more towards say protein folding 80%, and mincoin transaction 20%.. and so on and on.. This would make going from a CPU mining to GPU to FPGA to ASCII mining, worth it. since its for a better cause and not just converting electricity to heat for nothing. If it can't be done, then, might as well just let it be a CPU only. Or did I got it all wrong, that the increase in difficulties actually is required to support the coin's operations. Thanks
  9. currently mincoin is still below 0.001. Is the moderator/thread starter on a buying spree now?
  10. faucets are great for people who can't really mine it, as they don't have a GPU. or they have a old computer, that is great for surfing the web, typing a report and that's it. But now with a faucets, these group of people can also slowly, build up their own funds and later, be part of the crypto community. If the funding for the faucets can be supported by the ads, why not. it sometimes beat earning coins through mining and paying the utility company.
  11. I believe that CPU mining still has a place especially those who are getting free electricity, also my guess as to why not use the GPU instead. Well, it may be just for the fun of it going to a local library, with a laptop that doesn't have a red/green GPU. And just mining away while one does his/her own work/reading. The fun of it generating a few decimal point coins at a pool. The point is, for fun and at the same time gives a little support to the mining effort.
  12. Great, thus increase the interest on the MNC holdings too.. at the expense of BTC.
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