Topic: [ANN] AIRcoin - page 11. (Read 137309 times)

Interesting Article about MIT BITCOIN project:
"MIT Project to Distribute $500,000 in Bitcoin to Undergraduates"
Link:
http://www.coindesk.com/mit-students-distribute-500000-bitcoin-undergraduates/

I think most of us quit giving a shit a couple weeks ago. 

Aircoin sounds like its up in the air.

Saw his response but didnt make much of it... as in no real updates or plans. AIR is still air to me at this point.

Woah. Alexander / Aircoin responded. That was something unexpected to me. 

I guess time to breath some life back into Air.

Yes, I could not agree more . Can the AIR Team at least provide a status update posted here or on your website?

Not sure if I understand what you are saying here. Are you saying that adding SCRYPT ASICS(Increasing hashing) would be bad, but adding X11-based ASICS(Increasing hashing) would be beneficial?


All I know is that the dev team needs to do something..anything...even if it's wrong...JUST DO SOMETHING.. 

Just kidding about the "even if it's wrong," part.

I think they are still trying to focus on the development of the exchange. Not sure who is developing the coin for them, but he seems over his head at the moment. The issue with the LTC chain-overlap and "update your LTC client", and "chain state is too old", are common issues that have been resolved ages ago, on other coins. My guess is, that they pulled the source from an older clone, closer to LTC, and have not checked the diffs of other coins. You can see all the changes made, which resolved these more common issues, in all of the other clone coins.

Also too, they seem to want to add a lot of untested functionality to the coin itself. I assume, they are fighting with a way to keep the "rewards" secure. Which is, well, impossible, if they depend on an external device to adjust reward. That is why, to remain decentralized, BTC created the formulated rewards. The formula is the same on all machines. There is no middle-man that can manipulate the rewards. There is no security feature you could use, unless you went with a proprietary set of code, which would suffice. But then, that crosses legal boundaries with the BTC code. Not to mention, then it turns the coin itself, into something like ripple, or paypal, or a "manipulated share-holder stock". No-one wants to be manipulated. (Though, in essence, we all are being manipulated by one another.)

Having the exchange, with an artificial "points" system, will be the only way they can accomplish this. Essentially, like cryptsy has cryptsy-points and how mcxNOW has MCXfees and MCXbux, and how the whole DIEM process now works. (With DIEM, you are essentially being paid in DIEM, but actually mining whatever coin they use your miner for. You could be actually mining DRK or HIRO or even AIR, you don't know, because you are only earning DIEM. Chances are, you are not earning as much as they are getting in value from the actual coins you mine.)

If you are at 60k coins then that is what... a good 1/3 of the coins mined so far? I think you'll be nicely set if the devs actually do what they say they are doing. I've seen coins just as dead as Aircoin receive faster updates. Even Beecoin is changing their whole coin to a x11 PoS coin in less time. Last I checked there wasn't a university backing that coin.

Just trying to keep the thread alive, and keeping my novel-writing to a minimum. (Just got out of the hospital a week ago. Almost up to 90% operational, at the moment.)

I have been taking advantage of the DIEM movement, as it just opened-up into the BTC market. Getting more BTC to buy AIR. I am still mining it. The mining is great right now. I will be up to 40K-60K if someone dumps more cheap coins. I don't mind that they did all the mining for me. $400 in electricity is expensive. But they are selling them for nearly 1/4 that, when they dump. Their loss, my gain. Makes up for the miners I took offline. Down to my last single miner, which will be gone shortly.

They really do need an update, that is regular, at such an early stage as this coin is in. Even if the update is a plea for help, or just a notice to say that they are still working on the things they last mentioned in the previous update. This coin needs faith and trust. Both of those are so thin at the moment, it isn't even funny.

More than that, it needs a face, not just a shadow.

P.S. No, the premine has NOT been sold-off. (They confirmed that, a few posts back.)

I'm back to check in on the depressing state of things.
Did the premine really get sold?
Are you fucking kidding me.

We use to be like you...

Now look our longest winded member ISAWHIM is down to two sentences on his last post. TWO SENTENCES. Get out man before it's too late and the soul sucking starts. Maybe the DEV team hasn't noticed you yet. It's too late for me kid, I'll distract them while you run.

Hey DEV team, I saw 10k premine transferred to keg-O-Rama at UIC last night please explain (now's yer chance man RUN)

-To your first thought though, I don't care if they are "kids" so was the the guy who proposed Fed EX and many physicist do their most profound work before their  30's  or at least have developed the idea by then.  OK Run

I would add that AIR, due to its relatively unknown status wouldn't benefit from Scrypt miners coming online as those miners will be used primarily for Litecoin and alike due to their popularity and shear volume (volume is good for dumping large amounts of "freshly" mined coins to pay for new equipment). On the other hand basing AIR on X11 code will get "cooler" running cards (not that much important) and a LOT of new comers (who might not like to leave Scryptland but are forced to due to new superior Scryptbased miners) 

Nice, after I finally lost hope in a team and sold ALL my AIR for cheap, Alexander shows up. Ohh, well, my trusty R9 290 is on AIR Coin again. Anyway, thanks to all chaps who gave their input on AIR in this thread (I read All of it). Please, team and forum members, consider what I say , how I would act if I were in Alexander shoes:

First, I see no problem of team being students, if anything I feel (if "feel" feels reassuring in this case, lol) it is rather good.
Now back to AIRCOIN 2.0:

Create coin based on X11 hashcode, premine - reasonable to develop coin and services associated with it. First 4 weeks coin should be mined, then % ( up to developers) allocated for holding and keeping wallets online (so the whole network is robust).
At the same time, organize AIR-multipool which will mine most profitable coins including Bitcoin and then buy AIR coin on open market to create pressure on AIR Coin to go up. Add additional services (look what others are working on and implement those that you feel are advantageous to AIR).
Now is my logic behind this plan:
1. We don't need another SCRYPT coin with mining operations taking years, that will create HUGE selling pressure during mining period (years), selling pressure -> lower coin prices ->forcing miners out ->  falling AIR hashrate ( especially in the light of new SCRYPT dedicated miners coming online now).
2. New Scrypt miners will (in coming months) force all CPU/GPU miners to switch to X11 coins (as their is no alternative/choice for them), so at this point in time it would be beneficial to attract a LOT of folks into AIR. You might say that Scrypt miners can benefit Scrypt-based AIRCoin, but I feel it is better to have a lot of small miners then a few big ones (creates huge volatility/uncertainty in the coin)
3. After initial POW is over (lets say 4-6 weeks) POS begins with lets say 1% - 2% yearly inflation, plus tiny bit of interest for transaction incentive.
4. In all of these the role of AIR-multipool is VERY important. AIR-Multipool should be orginized in a manner when those who didn't jump onboard while POW stage was on will have a possibility to "pseudo-mine" during POS stage. Essentially you connect your computer hashpower to AIR-multipool in the following fashion:
AIR-multipool should consist of 3 AIR-multipools:
1.Owners of GPUs connect to GPU based AIR-multipool(GPU/CPU) preying on X11 (otherwise non SCRYPT based coins, as using GPU to compete with Scryptminers for mining Scryptbased coins will be unwise within a few months or even weeks)
2.Scrypt-miners(yes those that are coming online now) will be preying on Scrypt-based coins
3. ASIC-miners (all that are old and considered unefficient in bitcoin world) will be mining Bitcoin and ASIC-based coins.

All these three AIR-multipools shold be selling those coins that they are mining and bying AIRCoin and transfering those freshly bought AIR Coins to owners of GPUs, Acrypt-miners and ASIC-miners, increasing upward pressure for AIR Coin to go up and downward pressure on ALL mined coins simultaneously, including BITCOIN - its main competitor.

Essentially during Prove Of Stake (POS) stage we will still be "pseudo-mining" and "bending" others to benefit AIRCoin.
Keep in mind that during that period, AIRCoin team may/maynot use their "fancy" trading algorithms" to buy/sell AIR to create more gradual rise in value of AIRCoin. Also all those who don't mine (don't use AIR-multipool) of which there should be a lot, will be investing their coins/money at ever higher price of AIRCoin, creating floor in case of sell-offs that AIR developers should try to "smooth out" using their trading technics.
Once Hashing power grows substantially AIRCoin will start living its OWN life. In 1 year or so, when X11 based AIRCoin is succesfull,
arrival of X11-based miners can only be beneficial to it, adding hashpower ->value ->price.
Of course, during all this time, team should work on services for AIRCoin to add value and sence to AIR based new currency.

So what do you think chaps. You may vote, my AIRCoin  address is below, lol.




 

So alexander finally posts not to ease some of the tension around here but solely to defend himself.

It's almost been a month since we lost regular contact with the dev team and we have seen absolutely no progress what so ever.

I don't consider myself a vindictive person but its getting to the point where I will actively warn aircoin 2.0 users exactly what happened to aircoin 'beta' users. This is fast becoming a huge joke with us being screwed over as the punchline.

The sort of treatment the dev team has shown us is more than enough to bury a company out in the real world which is ironically what the "AIA" claim to be.

patiently waiting for the next non-update.

Thank you, coins received. I'll keep what you sent but I won't get any further involved until there are some signs that there is an actual plan going forward...

You mentioned that Aircoin said they had approached Mintpal and that they hadn't heard of this, that's not a good sign...


Don't worry, let's just focus on whether this coin has a future or not. Yes Alexander posted here again but he didn't give any indication that this relaunch is still going to happen, or even that they are addressing basic concerns like the wallet sync issue. Even if this coin does relaunch, why should Aircoin 2.0 be a success where 'Aircoin Beta' was not? They haven't really answered that question except with vague concepts that 'this will be bigger'.

How goes the progress on the fix for the LTC block-height overlap issue? Are you guys still trying to pin-down the source of the issue?

Seems like a comparison is failing. One that checks for validity of the block-height or versions, in the multi-connection broadcasting of nodes.

delete

Wow, he's back.

While I appreciate you chiming in to dispute the accusation that the premine is being sold on the market for profit, how about SOME UPDATE ON WTF YOU ARE DOING

+1 on Coinbase, I have bought/sold many BTC there.  Takes some time to get setup with all the verification stuff but they are trustworthy and fast.