That’s the problem, there is very little information from them, I can’t even find a whitepaper on their website.
I think they seem to be pretty much the same as Peercoin, but all the PoW mining finished after a very short time. So the distribution is likely to be terrible, and I try to stay away from these kind of coins.
All the hype seems to be driven by marketing and massive payments to get companies to accept it (see: https://coinkite.com/faq/alts). I’m treating it as kind of sketchy until I find out more, to be honest
Especially this part (Quoting abusive language, be forewarned)
[09:12] Name, Number, the whole fucking thing
[09:13] Its because of idiots like rat4 that we have made a draft to exclude shitcoins made by developers who dont know what the fuck they are doing
[09:13] and rat4 - you owe us some serious bitcoins for your fucking shitjob - and you will pay
[09:14] 100s of bitcoins - and I WILL HAVE MY MONEY BACK!!!! - I AM NOT FUCKING PLAYING GAMES WITH YOU!!!
[09:14] COOPERATE OR I WILL PAY SOMEONE TO BEAT YOU TO DEATH! - YOU FUCKING THIEF!!! - YOU READ ME??? - I WILL PAY SOMEONE TO GET MY MONEY BACK FROM YOU!!!
[09:15] MAKE A FUCKING STATEMENT AND STAND UP FOR YOURSELF AND APOLOGIZE - FIGURE OUT A FUCKING WAY TO PAY BACK THE HUNDREDS OF PEOPLE AFFECTED BY YOUR FUCKING VIRUS-TROJAN-WALLET-FUCKING-SHIT-WORK!!!!
[09:18] fyrstikken can you be so kind to say who are you?
[09:19] see - thats why your coin was doomed from the start
[09:20] you dont even know who I am - yet you made a coin and had it listed on my exchange
[09:20] you made a coin and my people in #fyrstikken bought it
[09:21] you made a wallet that my exchange lost money on
[09:21] that makes me your biggest creditor
[09:21] thats who I am
[09:23] You have single-handedly destroyed hours of expencive mining-powers from big rigs around the world - spent resources for millions of dollars worth of equipment and wasted thousands of peoples time and money making this fucking blowjob of a shitcoin
Blackcoin is just a PPC clone. There are dozens (hundreds?) of them now, but no one I know has real advantages over PPC. Most of them are very inflationary (5% or more “PoS” generation, instead of Peercoins 1%, well Blackcoin seems to be an exception with its 1%/year) and/or use mining algorithms like Scrypt to benefit GPU and CPU miners (although PoW mining in PPC and its clones does “not” contribute to security). I tried to maintain a list of PPC clones in this forum, but I have completely lost orientation. Most altcoin “devs” seem to chose the PPC model because of the centralized checkpointing and the related 51%-attack-resistance.
The only two PPC clones I know that have seen a bit of independent development are Novacoin and Yacoin, the rest are get-rich-quick-schemes which are regularly pumped and dumped. And Novacoin had a very controversial start as they were the first to bribe an exchange to get them listed. Now I have been told that that’s the standard way for shitcoins to get listed somewhere :-/
I think Peercoin should have one in that style. Just with the green and gold color theme and the leaf. Won’t be too hard to make this at home. I’m sure we have a few people in our community who can piece something like this together. Just need some relatively simple home video software like Studio 17, some creative skills and some hours spare time.
[tr][td]processes[/td][td]purely PoS; initial distribution was over in a few days [/td][td]PoS/PoW hybrid; PoW still in place for distribution; no phasing out announded[/td][/tr]
[tr][td]min tx fee[/td][td]0.00001 BC[/td][td]0.01 PPC/kb[/td][/tr]
[tr][td]tx fee gets[/td][td]paid to miners[/td][td]destroyed[/td][/tr]
[tr][td]projected block spacing[/td][td]1 minute[/td][td]10 minutes[/td][/tr]
[tr][td]min stake age[/td][td]8 hours[/td][td]30 days[/td][/tr]
[tr][td]stake age capped (for [br]limiting minting probability)[/td][td][br]never[/td][td][br]at 90 days[/td][/tr]
[tr][td]total amount of coins[/td][td]~75 mio.[/td][td]~21 mio.[/td][/tr]
Taking into consideration the short period between announcement and start, the short distribution time frame (10.000 blocks or roughly 7 days!) and what can be seen at exchanges now, I come to the conclusion that my “pump&dump” sensors tremble for a reason.
But even if it reveals to be more than just a pump&dump coin, its intended use is different from Peercoin’s.
Blackcoin’s features seem to make it aim at processing payments whereas all of Peercoin makes it designed to be a backbone currency.
Blackcoins block chain is going to bloat dimensions faster than Peercoin’s as there’s no incentive to keep it small included in the fee structure and the PoS concept.
So I think that even Blackcoin is successful, it is more complementing Peercoin than competing against it.
What’s interesting at Blackcoin?
[ul][li]We might find out how sustainable a PoS only concept is (in the wild!) that is in some way similar to Peercoin’s[/li]
[li]It already is energy efficient as there’s no more PoW[/li][/ul]
…maybe Blackcoin causes a stir that makes people recognize PoS (those people that are not yet aware of that). From then it’s only a question of time until they stumble upon Peercoin. Might the come to their own conclusion…
I can’ foresee the future. I don’t know where Peercoin will end. But I see so much potential - on the one hand directly in Peercoin, on the other hand by concepts that arise around Peercoin (like Peershares).
And I bet this can be seen by others as well once they’ve started looking.
…I don’t see such ideas associated to Blackcoin…
What kills me is all these coins that come out with damn near the same tag line anymore (country/city coin X) We have this coin to liberate our people!! Ok, so we shoot for a currency that is usable around the world, yet you claim this coin is to liberate/help/make better 0.5% of the worlds population with the miracle of a digital currency JUST for you (oh, and the rest of the world too…) That just spells fail - to me. Or hop and flop, or pump and dump…call it whatever you want.