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Ixcoin: the surviving odd coin

Old Logo

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New Logo (the final colors are still under discussion by the iXcoin community)

Probably when you have approached the world of cryptocurrencis for the first time you thought the only coin it's worth to be “piled up” is Bitcoin. And maybe this is not far from the truth. My goal is to help you to reason on what we just said. First, a question:

  • Can you imagine a world in which cryptocurrencies are going to substitute the fiat ones?

Maybe your answer is going to be: yes, but only partially.

Another question:

  • Can you imagine a world living with just one cryptocurrency?

Well you can rightly think: there are already two cryptocurrencies used for transactions: bitcoin and litecoins; there is no reason and no way to limit the numbers of different currencies.

Again:

  • Is there any reason to think that cryptocurrencies will not survive?

Of course you know: big companies like Amazon and Google believe that the future is in the ends of virtual currencies. Well, they believe that, but they don't like the idea of not being fully in control of it.

Maybe the question popping in your mind right now is:

  • Is the trading of virtual coin secure? Do not worry, when the system will be set to work properly, you will see a lot of companies appearing like mushrooms on a field. To control the trading means power, and power attracts a lot of companies.

NOW the main issue of this article: is ixcoin a scam or going to prosper?

Well, let's try to analyse what bitcoin and ixcoin have in common.

  • Bitcoin uses peer-to-peer technology operating with no central authority or banks. The same for ixcoin.
  • Bitcoin uses proof-of-work protocols. The same for ixcoin.
  • Bitcoin works with the hashing algorithm sha256. The same for ixcoin.
  • Bitcoin was created by an anonymous person nicknamed Satoshi Nakamoto. Ixcoin has been created by an anonymous person nicknamed Thomas Nasakioto.
  • The number of Bitcoins in existence will never exceed 21 million. The same for ixcoin.
  • It is generally assumed that Satoshi has been mining bitcoin from the very beginning, a period in which just a few were mining bitcoins. He probably owns now more then 1 million bitcoin. Nasakioto ha premined about 580k coins, used the majority of them for development. I dunno who is more “scam” of the two: the one mining for profit or the one for the development of the coin?
  • The creator of Ixcoin is considered not very much active in developing the coin. I don't remember Satoshi taking part of any further developments of the coin.

So what are the differences between the two coins?

  • The reward per block is 50 with bitcoin, 96 with ixcoin.
  • Bitcoin will be completely mined within 20 years, ixcoin within 2 years.

In 2015 there will be the advantage to have a fully mined coin like ixcoin.

Is it going to succeed? It depends on many factors. But after 2 years is still alive. The mining is increasing. Very soon even Coinx.com will trade it.

Are you willing to be a early adopter of this coin? Buy them, on vircurex.com

iXcoin specs: Launched (first block mined): April 29, 2011 21 million maximum coin cap 10 minute block times 2016 block difficulty reset period 96 coin block reward iXcoin home page: www.ixcoin.co iXcoin forum: ixc.boards.net

iXcoin videos: http://www.youtube.com/channel/UCi0UaFRVDA0-EZZtlf-SgGw

Exchanges supporting iXcoin: www.vircurex.com www.cryptsy.com

Bitcointalk: https://bitcointalk.org/index.php?topic=230141.0

Client:

Windows: http://sourceforge.net/projects/ixcoin/files/ixcoin-0.3.24.3/ixcoin-0.3.24.3-win32-setup.exe/download If you’re finding trouble finding peers, please add “addnode=198.154.60.183″ and “addnode=50.116.37.18″ to your ixcoin.conf or add it to the startup command line -addnode=198.154.60.183 -addnode=50.116.37.18

Mac: iXcoin 0.8.6 This implementation is still undergoing testing. Please use with extreme caution. Sources: https://github.com/FrictionlessCoin/iXcoin Binaries: https://sourceforge.net/projects/ixcoin-ng/files/iXcoin/ixcoin-0.8.6/beta/ Here are additional nodes to bootstrap the client: Here are additional nodes to bootstrap the client: addnode=24.34.40.175 addnode=142.4.208.71 addnode=24.42.148.53 addnode=184.78.215.89 addnode=62.75.167.48 addnode=83.163.120.176 addnode=123.203.84.34 addnode=86.93.208.193

Block explorer: block.al.tcoin.info/chain/Ixcoin

E-currency


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