

Another cryptocurrency similar to BitCoin - otoburb
http://solidcoin.info

======
motters
This doesn't seem like much of an improvement over Bitcoin. The main problem
with Bitcoin as I see it is its inflation curve and fixed maximum circulation.
This has a pyramid scheme-like effect where early adopters are
disproportionately favoured, so that the accusation can be made that these
systems are set up simply as a way of enriching their founders.

~~~
llambda
This is by design. I'm not sure early adopters are favored at all because
their "investments" will gradually lose value as the number of Bitcoins
increases. If anything it's the opposite, as I understand it.

I've read varying opinions on the matter but it seems that the idea of a fixed
currency that inflates at a predictable rate was a design decision meant to
keep Bitcoin usable for certain kinds of transactions, i.e. exchanging money
between currencies at low rates or giving money to your friend or favorite
cause without an intermediary such as a bank. It isn't meant to wholly replace
the dollar or euro or yen as far as I can tell.

~~~
DennisP
They only lose money if the number of bitcoins increases more than the demand
for bitcoins. So far, the exact opposite has been the case, and the coins'
value has increased by several orders of magnitude.

Bitcoins will max out at about three times their current number. If they were
to scale to, say, VISA size, they would be far more valuable than today.

------
jasonzemos
Denial of service by malicious pool owners is not an issue AFAIK. Pool owners
are encouraged to package outstanding transactions in a mined block to claim
the associated transaction fees. The only reason a pool owner would deny
service is if the transaction has no fee -- which is generally spam.

The real problem with bitcoin if anything is transaction scaling. With each
transaction broadcast and saved by every node, it's questionable if the
network could (or would be willing) to tolerate the load equal to, say, the
Visa network.

    
    
      du -hs .bitcoin/
      870M    .bitcoin/

~~~
DennisP
Scaling is exactly the reason I failed to buy bitcoins a year ago.

However, here's an argument that they could in fact scale up to VISA levels:
<https://en.bitcoin.it/wiki/Scalability>

------
scotty79
How much time do I have to dedicate to solo mine any solidcoin with Radeon HD
6850 ?

UPDATE:

Seems like few hours are sufficient.

------
ars
Seriously? The market can barely support one of these, much less multiple.

~~~
doublec
I look at these extra chains as more like experiments, iterating on different
ideas that are too dangerous to try on the actual bitcoin chain. At some point
someone will hit on some good ideas and they might be fed back into bitcoin,
or form the basis of a better currency.

------
nazgulnarsil
fixed transaction fees? you've just crippled your entire operation from day
one. your currency will never rise beyond a value where the transaction fees
make sense.

