Topic: [ANN] AIRcoin - page 21. (Read 137292 times)

LOL, I hope so too. Otherwise I will be inserting foot into mouth.  

I hope you are right.

They added this to the first statement:


Addendum:

The coins will be 1:1 at the amounts when verified in that 72 hour window.


It will be a literal match. If you have 145 beta's you get 145 new coins.

You have to clarify better.

Does this mean that if you hold X AIRcoin beta, which is Y% of total AIRcoin beta, that you get Y% of total new AIRcoin.

MANY AIRcoin investors who have held through the rough times (like myself) are scratching their heads right now.

Please clear this up.

Interesting approach. Not sure what the point of keeping the BETA around is, but I suppose it rewards holders of the coin and could cause the price to rise in the next 72 hours. There are more buy orders.

If the BETA is not going to be supported at some point, what would happen to the BETA premine once support ends?

The decision to go with Scrypt-N is kind of a toss up. I know some people love it, but it is hardly more "new user" friendly than X11.Personally it is much harder on my cards and I get 25% compared to the standard 40% of scrypt with Scrypt-N. Any higher and I get a ton of hardware errors and risk ruining my cards. In short, X11 has been much more user friendly for me than Scrypt-N. There is no "sweet spot" to contend with like with Scrypt-N, making it much easier to configure IMHO. Regardless, I will just stop mining it is all. I will still trade it.

EDIT: just as I was writing this a huge dump occurred. My    0.000105 buy order got eaten up. The mining power has dropped. A certain large holder may be calling it quits.

It would be awesome if Aircoin Beta ends up being worth more than the new Aircoin. One day I'll end up buying a TV from Walmart with Aircoin Beta because everyone mined it instead.

Ok, so there will be two coins...

The old one staying as Scrypt, the new one will be n-Scrypt?

Both will have an equal premine, thus AIRteam now has 5,000,000 AIRcoins (new+old) total, 2.5-million x2... 2.5mill on each chain...

We will get "matched" value on the new AIRcoin, but AIRcoin-Beta will still be a whole other coin... (Also traded on the exchanges?)

So, again, we move ten steps backwards... A bunch of people (old investors) get a bunch of $0.00 cost-to-produce coins.. of the new coin... making us able to dump down to $0.0000001 if desired, for a gain, on the new coin, which others are having to mine, at an actual cost! Then, we also still get to have our old coins, which now it would be safe to assume, half the miners of OLD-AIR, will go to NEW-AIR. Thus making it even easier for them to cash-out at half the price on both coins value. (Since less miners on that coin = more reward per day, thus, half the cost to obtain them.) Worse if everyone leaves BETA, and moves to the new coin, of even less value...

Why exactly would you NOT just transfer coins/value and dismantle the old coin? I am not following this logic.

(Might then want to make a whole new coin called NotAIR, since that will just confuse everyone, calling the new coin AIRcoin, and trying to rename the old one AIRcoinBeta.)

You see... This is exactly what I am talking about...

There is no... "AIRteam: Question... Hey guys, who just invested a bunch of money/time... What do you think of us doing this idea?"...

Instead, it is like this... "AIRteam: Statement... This is what we decided to do to your value/investment now!"

ASAWHIM was assuming it would be a move from the old coin to the new coin, but its's not.. the old coin will still exist, you will get an amount of the new coin equal to the amount of old coin that you manage to verify, you are free to keep mining, buying and selling the old coin.

I´m assuming we will be the only responsible to verify our coins.

Not quite everything is clear to me.
ISAWHIM's question about coins on the Poloniex wallet's still is unclear. Will Poloniex offer support and verify on our behalf our do we transfer all out of Poloniex to local wallets then verify?

Everything is clear now, thanks!

To clarify: Yes, the coins will be 1:1 at the amounts when verified in that 72 hour window.

However, this is explicitly not a transfer of funds. We are not accepting any of the old AIRcoin (AIRcoin beta) and you are free to continue using them, we are just using the support that others have (from their existing stores of AIRcoin) to distribute the new blockchain. The team is not moving coins from one location to another, they are just distributing new ones, and the old coin code still exists.

The timeline stated in the previous post will start (0HR) when the new coin's code is ready to be released and it is set up for exchange.

Actually, it's not explicit. They gave no indication how long it will be until 0 hour, which is essentially what Juicemixer is asking.

I think you are safe to keep mining. Giveaway  will be proportional,  anything other than that, like random rewards, would be silly!

The timeline is explicitly stated in their post from today.

So the timeline will be:

0HR: Notice of new coin
72HR: Verification period begins
144HR: Verification Period Ends
- HR: Coin released

I just want to know if this will all take place days, weeks, or months from now. Should I keep mining if the giveaway is just a random reward on whether you receive coins or not?

As far as i understood the premine will have the same numbers of coins PLUS the necessary coins for users's exchange from old to new coin.

Charts here: http://crypto-prices.com/AIR

^^THIS^^

Your post above is unclear on whether this is actually happening or not - will we be able to convert our existing AIRcoin into the new AIRcoin?  "Giveaway" implies you're just doing a random promotion to give away an amount of AIR equal to the amount verified during the verification period.  We are going to be compensated for the existing AIRcoin we have in our wallets, correct?

I was fearing that a new coin would emerge and the old one would disappear, leaving lots of bag holders that stuck with it.
i have put all my mining and actually brought bitcoin for the first time and only 1/2 hour before the last big announcement grabbed what i could of aircoin, time will tell on how silly it was.
As to the ratio of old to new, we will find out.
I am glad the team have weathered the storm and posted here, as this is a common area that is checked for coins, hopefully the guys have read and absorbed from here and have a thick skin as is sometimes needed .
The only advantage i see so far of different scrypts is the more gradual adjustments to hashing power, obviously difficulty to mine relates to the minimum sell price people place on a coin - but not always.

will Poloniex be supported for the new coin as well?

So are we getting a 1:1 exchange of AIRcoin-Betacoins to AIRcoin? (Or proportional, if initial reward is not the same, to start.)

What will the new-coins dev-premine be, the same? The same as it was before, or just an initial premine for us, to "transfer only actual mined coins, from Betacoins to AIRcoins"? (That is not quite clear. The way it is worded, it sounds like a lotto, with more chances to win, if we have more old-AIR coins? "Giveaway", may not be the best word to use. "Transfer of funds", would be more appropriate.)

An automated transfer would be easy enough... We deposit our coins into a "unique designated old-AIR address", and the same amount is deposited into our "submitted new-AIR address". (Note though, that this transfer service will have to remain active for several months. In which time, reward for mining old-AIR should be set to 0.00 AIR, after that block, which you intend to "disallow mining", but still have to keep the network alive for the transfers to happen. Which would include exchanges, who would have to auto-transfer on our behalf, for those of us who mine to pools, then deposit into the exchanges, without a personal wallet to do this transfer.)