Topic: [ANN] AIRcoin - page 26. (Read 137280 times)

It is pretty simple.  The devs lied.  Don't expect much from them.  You are a fool to support these devs.  They abandoned ship the second there was any sign of trouble.  These devs are weak minded.  To top it all of, they still hold 2.5 mil coin.  They clearly cant take criticism either.  When things go bad, they run and hide behind their academics and avoid the real world. WEAK!

Has anybody heard from the devs recently/received any updates with regard to the future direction of this coin? Is it safe to assume that the devs have already abandoned AIRcoin's 10 operating principles, particularly points 5,6 and 8 as seen in their original launch paper from February 19th?

"AIRcoin operates on 10 Principles.
1. No coins from the reserve will be given away without due service. This maintains the opening
and maintaining exchange rate.
2. Mining parameters will meet the needs of the market, not the other way around.
3. The reserve will be used to maintain the exchange rate through automated buy and sell orders
on qualifying exchanges.
4. The investing pool of 0.25% total coins, as it grows in size, will be used to increase the volume
and price of the buy orders, adding more and more to it daily as traders increase the volume.
5. Weekly data and newsletters regarding the progress of the coin will be published regularly to the public.
6. Transparency with the public, both in the workings of the Allied Investors Association and the technology of the coin, is paramount.
7. All new advances to the coin are to be reviewed, examined, and publicly available.
8. AIRcoin development team will act as ambassadors to the community and the financial world, and provide leadership and direction to the Cryptocurrency community.
9. Educating those who do not know about cryptocoins is far more effective than arguing with
those who do.
10. A code of conduct will be published by which these coins will be held to, under the knowledge
that financial regulation, innovation, or termination will arrive within a reasonably short period
of time."

+100 for the "Yeah, no..." reply. lol.

That will be our marketing!

AIRcoins, you know it is worth it, because FTW, you are limitless with Piracetam!

I'll start filling capsules, you guys print the labels, and AIRteam can be the pushers.

How about a pool-donation of other coins. We get AIRcoins for other coins from the devs/traders, and AIRteam practices the trading-engine on those coins, for BTC gains for the pool. (Thus, increasing our AIR value we got from the donation of other alts. Obviously by using some of those BTC to skim the bottom of the lows on AIR.)

Yeah, no, I've been under 2400mg Piracetam + 500mg choline per day for the last 7 years, and I am not so long-winded...

I kind of like ISAWHIm rants, keep it going m8, I always learn something from you.

Guilty...

That was the short versions... Want my white-papers? xD (It's not in a roll form.)

It's partly the piracetam's fault...

ISAWHIM, mate, has anyone told you that you are extremely long-winded? This is not literature class, you don't need to beat around the bush for entire paragraphs to show how good you are at writing in english...
Synthesis mate, learn to synthesize and go directly to the point, because ain't nobody got time to read entire essays just to answer to you...

So what is the new direction of this coin, or are we still headed DOWN the same path?

What is the marketing strategy?
(Surely anonymous user: "Herbsmoking", selling steam-codes on reddit, is not your only expected target source of a market.)
No offence to Herb intended. I am sure he is trying to earn an honest dollar.

Anything you can tell the investors?

No white-papers for this situation? No exit-strategy? No plan-B?

Bueler... Bueler... Bueler... Bueler...

Come on, you studied crypto-coins for "whole months" and "spent all your time coming up with theories"... I have been here for years mining and trading, and trading in general, for over two decades... Where is your business plan? Where is your portfolio? Where are your credentials? Where is your supporting sources? Where are your proven techniques?

As a community, we stand together. As a business, you stand behind us. As a regulator, you stand in front of us.

I am not seeing community or business footings in the wake of development here.

We can't promote nothing...

That was one of the "other gains" of potential from the proposal. (A decimal-shift and full reward adjustment and premine-value reduction via a "cap-adjustment", would have warranted a full reset of the charts on the exchange.)

We already know the value, and have a "minimum" entrance level now... This would be the ideal time for that "reset", with the adjustments. Provided with a reset of the forum-pages to reflect the changes which would not be relevant to the old coins attributes.

Then you release the market, and hype it up. Not now... It will just be a wasted investment. (Wasted investment in marketing.)

By the way... "Investment" actually keeps people away... The word is related to more scams than good.
- IPO (95% Scam)
- HYIP (100% Scam {Another word for Pyramid, created by business men/scammers of today})
- Stocks/Bonds/Commodities (Though the word is assumed... When actually mentioned, it hurts image.)
- Investment Risk Management Services (Honest service but invokes honest fear, as it was intended to do.)
- Retirement Investing
- Time-share Investment (Another 75% scam)

It is a word that is better left to casual discussion, not quoted within text or "plans". Alternative words are usually used, that imply investment, for that reason. That, or left open for natural assumption of the obvious. That is why they don't use it unless you are well established, and already successful in a market. (Thus, a real poor marketing decision for a day-1 release statement or profile.)

That image too, is easy to wash-away. (Though I am sure they don't have a clue how to do that, or will wash then rinse and repeat, out of habit.)

While ASIC vs X11 debate is a valid one, I think it is currently irrelevant to AIRcoin.

The only reason why we invested/mined AIR is because of the "investment pool".  The hashing algorithm is just a side note. 

As other critics have mentioned, one of the major reason why it failed is because of the lack of marketing.  While large dump of miners did attributed to the downfall of AIR, it is because it wasn't marketed well enough to attract other BTC holders to invest in the coin.

While it could be painful, what the dev should have done is really pump AIR up and earn enough BTC from the initial rise and use them to "play" the market for gains.  Of course, after the initial pump and dump many people will be hurting, but perhaps the sheer volume and publicity would have generated enough attention for many people to hold their coins.

The Devs were just a bit too naive thinking that the word "investment" can have enough power to lure more people in.

Nonetheless, I still believe the idea can work, but the coin needs to start/restart with a huge bang.

No-one is hopping to an x11 coin in the first place. That is like saying "Snapping your fingers keeps dragons away".

Now that more junk coins are using x11, you will now see what hoppers do. (Those who can even get x11 to work. Which is not the majority.)

(higher difficulty = higher hashrate = lower rewards) You idiot, all coins do that now! That is part of the issue. The issue is that difference is exponentially decreasing rewards, which is too excessive for any form of stability. (Except in slow-growth, with a majority of steady-rising hashing-power. Which at the moment, and historically, has been ZERO of the coins.)

Anyways, enough with the crap about x11. If they want x11 then can make AIRx11coin, and call it A11Rcoin.

The KGW is fine, the formula just needs to be inverted to the way it reacts, and tuned to smaller time-spans. Which is essentially all DGW has done, and then renamed it, like it was some new invention.

At the moment, without a market, it doesn't matter if we make 0.1 coin a day or 500 coins a day. What matters is the actual issues that is PREVENTING a market from forming.

1: Premine excessive (Also not needed apparently.)
2: Interference with our direct value, by market manipulation on a market that doesn't exist yet.
3: Potential interference with our earnings as miners, by mining-reward manipulation without proposed limits to that manipulation.
4: Excessive low-valued holdings that can be sold below any new miners value at exponential gains. (That is every market though.)
5: Trust in "Anonymous strangers", who refuse to provide any proof of anything ever proposed. (Trade skills, Market skills, Economy skills, Identity)
6: Fear. (Silence in time of distress, failure to resolve, failure to produce, lack of intelligent reply, poor understanding of the reality behind the formulas they use, regulation without question, broken promises.)

Most of that is easy to wash away. Disclosure, Bots and PDF's won't fix any of that. Nor will x11.

You want me to write a full detailed proposal, for agreement of existing investment holders? I will be more than happy to setup a full formal proposal for step-by-step changes, for discussion, for acceptance with the intention of getting this coin off the floor and moving forward. You need a face, I have one to show. (I actually volunteered that as a service once before, in our skype chats, with AIRteam other investors.)

The only reason I am even still buying and mining, is because x11 was not introduced and there is still potential, and there is still time to achieve that potential. However, that window is closing, and no "marketing stunt" will reverse that in the current state the coin is in, with issues #1-#6 stated above.

Exactly what are you doing to "help your investment"? (x11 won't do shit for your investment if there is no-one to buy.)

P.S. Buy-orders BTC volume is down to 1 BTC now that I removed my BTC from the list. (It is still there, ready to snipe, just wanted to show you how much of a "not-me" market is there. Add the 1.5BTC that AIRteam has of yours, and that is still only 2.5BTC. How is x11 going to "solve" that? It will not. Nor will a bot. At the most, a bot can absorb the last 1BTC on the chart.)

It's kindof a known issue with KGW, I have dealt with this on other coins as well.  KGW really only works on coins that already have a pretty big network hashrate, it does not do well with coins where the "normal" net hash is only 100-500MH.  It ramps up the diff pretty well when the hashrate increases rapidly, but does not bring it back down fast enough.

This is the perfect example of why ASICs are one of the worst things that can happen to a coin:
http://www.reddit.com/r/Bitcoin/comments/2182nb/kncminers_ceo_sam_cole_dumping_bitcoins_worth/

You can already tell someone has figured out the mining game of this coin. One day the net hash is over 200Mhz. The next day it's sub 100Mhz and taking up to five minutes for a block to show.

I always wondered if low retarget time could fix that problem. Something around five minutes to retarget difficulty. Multipools might still try to jump in every five minutes but at least they won't be screwing over the dedicated miners so much.

I also think that ASICs are not as bad as most people think them to be. It's almost like a group of people have created a stigma about ASICs being bad to save their own interest. Kind of like how in the 1950s people that had a lot to lose for pot being legal went into great lengths to spread false negative information of it's use. They even made a movie called Reefer Madness that depict pot smokers going wild crazy and running around like maniacs committing unsightly things. Will ASICs destroy the using of GPUs to mine? Not all of them, but I do find it strange the people that outcry the most are the ones that have the mining market cornered with their expensive mining rigs.

To satisfy and appease the public, could the AIRteam add a page to the wallet, which contains the following...

A display which shows the contents/balances of the five premined blocks, visible at all times to every wallet holder. With an integrated "expenses" list below, that justifies each removed transaction. Bonus for a "user approval request", for removal/spending of coins from said balances, to pay debts. With the additional option to possibly "Donate", BTC or LTC in exchange for those coins directly. (Thus giving you the ability to pay for services in BTC or LTC, while keeping those AIR off the markets, where they would otherwise be "dumped", by the people you would normally have paid for those services. With the concept that the "Donated" values of AIR-holdings, be forcefully higher than any market-price, to also reduce temptation to dump, by those who donated for the possession of them.)

At the moment, the only way to alleviate the large values, would be to "revalue" AIR, so it was only a fraction of what it is now. This could only be done by moving all decimals of all values, over to the left, by four or five positions. Thus turning the holdings from 2,500,000 into only 250.0000 or 25.00000, which would also turn block-rewards from 3.720 into 0.00037200 or 0.00003720... Then you could SLOWLY allow reward to increase with hash-rate, instead of decrease. (Because as hash-rate increases, it is divided among more users, so there will still be less per user, but reduce the "fat wallets", of those who were "early miners". They will still be exponentially fat wallets, but not exponentially fat, by as much.) This would also require the full mined cap to be tripled, but with the decimals moved, that would not be much change, except that your premine would now be effectively 1/3 of 0.25%.

Thus... with 10 miners, they could earn about 0.00003720 per block... (/10 = 0.0000037200 per miner)
But... with 100 miners, they would earn about 0.00037200 per block... (/10/100 = 0.0000003720 per miner)

As opposed to now... (With the current steady value, but with the above stated decimal offset.)
10 miners get 0.00003720 / 10 = 0.0000037200
100 miners get (0.00003720/10) / 100 = 0.0000000372 {The /10 is for the diff-adjust}

That was just an example, but you get the idea. (Extra decimals added to show off-chart values.)

BTW, it took almost a whole 24 hours for the KGW to finally match the hash-rate of the miners. So for essentially 24 hours, the 110MHs network was mining with reward as if they were 220MHs, thus, getting nearly half the reward for mining... (Average of 75% of what they deserved.) If another 110MHs jumps on the net now, they would get a HUGE chunk of that low-diff, then leave once the KGW eventually moved up, and leave us mining all day long again, for 75%, while that miner had just gotten about 200% for a few hours of work. With that much hashing-power they would not need to mine in a pool.)

I could prepare a more formal structure, as a true proposal, if needed. However, I do hope you see what I was getting-at.

This reduces holder-dump damage, and miner-dump damage, and also network-reduction or network-increase damages, which lead to the aforementioned in "exponential decreasing earnings, while exponential inflated holdings" both exist at once, on the same chart.

P.S. This has other advantages too... (But too complex to get into on the forums. You may already see them. )

No, I didn't expect you to read all of that.

Your reply satisfies the contents stated in the TLDR post.

Not sure if you are trolling now, or being comical, or actually believe what you just said.

I hope you didnt expect me to read all of that
ASICs were never & will never be the future. Scriptcoins will be defunct yr end. GPU effeciency is the future. Good luck scrypt farms.




Then go mine an x11 coin... (Seems like one a week now, and soon one a day will appear. If it works for you, then join that party.)

Not all ASIC's are from China, most ship in days and arrive in a week. Sounds like you just have crappy China distributors. Oh, and China to China shipping only takes a week. There are now over 20 decent farms, and seven major ones, with several thousands of ASIC's in them.

Ebay is not a reliable source of anything. As for your ignorance to the GPU's manufactured, and GPU sales, and those scrypts being the "future". Well, I'll just let that future speak for itself. At the moment, it is saying "Yea right". They are all experimental scrypts, which still favor NEW GPU's. So that defeats the whole purpose of the fight. Those promoting it are promoting their own death. They are the ones with old-hardware farms that will just be beat-out by new hardware-farms. The only reason it looks like they are remotely winning, is because NO ONE IS BUILDING NEW HARDWARE FARMS. (How ironic... Invent a stupid scrypt, announce it keeps away snakes, they look around, don't see snakes. Then everyone realizes there are no snakes in Ireland.)

So you degrade the card to do nothing, increase the number for hashes, then say... Look, it is running cooler. Yea, because it is doing less. (While the devs have the unhindered programs that actually run 100% on the machines in there farms, while they cash-out on you, running at 80%.)

Work = Power... if it pulls less power, it is doing less. Period. Doesn't matter what number you fictitiously create to measure it. In the end, it still pulls more power than any ASIC, and THAT is what you are paying for every month. That is why they will die as mining tools in the future. So essentially turning them into a half-assed ASIC is actually defeating the purpose. It costs less to produce that hash, so you sell for less. You have saved nothing. You could have sold that card and made more to buy a real ASIC, that actually saves you money to operate.

But I digress.

You obviously have no idea what the hell you are talking about. You buy crap from China in bulk.

The KGW is formulated backwards, and DGW is equally as screwed-up. They both favor hoppers and large-hashing-miners, while screwing the steady miners. That is why they keep pushing it, because THEY HAVE FARMS that take advantage of those exploits. Even though having KGW and DGW are better than not having it at all. (It just makes them more efficient at the rape.) Not to mention, each set of "lucky hashes", makes the coin think the hash-rate just shot up, so it adjusts up and stays up when it should not be up in the first place.

What the coin is made of, in a few months, will not even matter, unless it keeps miners on it steady. Once there is a market, the market will be the biggest determining factor of growth, unless the miners all leave. If they leave then there becomes an abundance of coins in fewer miners hands, and they can easily cash-out for gross gains. If they get raped by a farm, then only that one person can cash-out for gross gains, against us and the market, keeping miners off the coin.

The coin needs to be distributed across as many hands as possible, as borderline as possible, with a greater volume being held for futures. While the new coins are not spread so thin, that they can not compete with the volume of held coins, and all become losses. That is why the super-halving by difficulty makes it impossible to keep-up, with the majority already being held in the future. (Now throw halving on top of that, and reward manipulation that only favors those who held for the future, and you get sudden death.)

Technically, the rewards should start small, and get larger with more miners, but not so large that the more miners have the same as those few who mined early. Also not so small that they could never actually make a gain on a sale, without grossly over-rewarding those who raped the coin in the early days.

Unfortunately, there are not many hands here, or a decent supportive market, due to the premine and unproven statements from anonymous strangers who intended to manipulate MINERS earnings, as well as the MARKETS earnings. We already have a mining manipulator, it is called difficulty adjustments and halving. We already have market manipulators, they are called people and bots. What we don't have a lot of, at the moment, is trust. That is the only thing that builds a market. Otherwise you just another coin, created by anyone, with any purpose and no direction we can actually follow. People hide for a reason. The intentions are becoming clearer as assumptions rise, since that is all anyone has, and all that is offered.

It's this simple... Do what is needed, or the coin dies. Don't do what is actually needed, and it dies faster. Do what you want, and you can swim in your coins alone, all day long.

So far, they have chosen to "Do what is needed."...

I am satisfied with that. It already drove-off most of those who never had any intentions of sticking around past the first pump. We can all move forward now. That has come and gone. Would you rather it happened a month from now, and left you stuck with more that could not be sold. At the moment, the diff is low enough that you can earn back any losses in a few days. (Well, unless another hired farm is pointed at the coin, blasting the diff up into oblivion again, which will boot all the miners back off the coin. Unless our steady volume is higher than the farms volume.)