Topic: [ANN] AIRcoin - page 48. (Read 137280 times)

Hey guys I've been mining at air.ctrlaltdefeated and this message just popped up so i figured i would let every one know about it. "Probably going to shut this pool down today instead of upgrading to the new wallet. If you guys would please start withdrawing your coins so that I don't need to manually pay everyone out it would be appreciated."

Although that does not prevent individuals for checking on them via the block explorer, which tracks the premined transactions quite clearly.

To a large extent, the whole premise of the coin demands that movement of the premine and investment funds remain opaque.

Bordering on a troll post. Glad you have given your coins away as miners like you are the reason the price is lower than it probably should be.

I'm unsure why the premine of this coin seems to have people up in arms more than any other premined coin (seems this way). I'm fairly certain the dev's have no intention of keeping their identities secret long term.

Thanks for selling me your cheap coins

Dear developers of Aircoin,

the only way how you can rise price of coin with premined 2%  is earning trust of investors. You can get it only by 100% protection against premine abuse. There are ways how to do it.

As it seems, you are completely ignoring this topic, I am out. Talking about trade system and market manipulation is nice, but it is not (all) what people want to hear. Especially when the system obviously does not work as you expected (also you admit it).  Now we should look on another experiment. 

But thanks, I have earned  enough to be happy (by early mining mostly). I will have nice memories of time with this coin 

Bye!

That is normally true when there is no activity against inflation, but as you said, an increase in price would offset the reduced hashrates.

We've also noticed that despite the falling price, mining hashrates are still within 20% of their peaks on a regular basis, so demand to mine the coin is still strong. We may see a temporary drop in mining power, but it should re-correct itself at the new equilibirum.

The only problem with that solution is that it may cut the difficulty in half. Decreasing block rewards generally have a direct correlation with decreasing hashrates. Hopefully an increase in price will offset this.

A DECISION HAS BEEN MADE

A New Mandatory Wallet Update will be released. It will have the following:

1. A block reward of 1.96 Coins, which should give time for the exchange rate to adjust back up to stable values. This should return the mining opportunity price to .003 BTC/AIR @ 16 Difficulty.
2. A diminishing block reward that will decrease by 1% every day. This should stabilize the exchange rate's decline. This will be also be removed when there are enough reliable exchanges that the variable block reward can be implemented.
3. Adjustments to the KGW system to make it react better.
4. New Checkpoints and other minor tweaks.

This wallet will be finished by the end of today and then released late tomorrow, with the changes occurring soon in the block chain. This means we need ALL POOL OPERATORS TO BE READY FOR THE NEW WALLET. We are sorry for the abruptness of the release, but we feel it is necessary to maintain a sustainable exchange rate.

The reason these values were chosen is based off the performance of the investment pool in the last week. It should now be able to grow at a sufficient rate to counteract the supply/demand differential and inflation.

The decreasing block reward is insurance in the event that the exchange rate does start to fall again, in that it should curb that fall long enough to get on at least 1 other exchange so we have redundancy in the system for the variable block reward.

We will update with an explicit time that the new wallet will be released, along with the block # that the new reward will begin. Expect the wallet release to occur within 12 hours.

If it's any consolation, that gives you ~24-36 hours before the exchange rate will begin rising during which you can stockpile AIR at a cheaper price.

(post edited to reflect change in release time, to give people adequate time to prepare)

As explained in the previous post, this is exactly what is happening:

1. The inflation rate is steady, at ~2700 AIR per day
2. The Pool growth is steady. ~-300 AIR per day
3. The Demand is moving. (new users, currently not a large factor)
4. The supply is moving. (dumping, which is a large factor)

The inflation rate and the pool growth rate should bring the demand and supply in equilibrium to keep the exchange rate flat, plus a little to raise it slowly. However, they, which are supposed to respond to supply and demand, are instead very very out of balance (.5 BTC per day VS 5 BTC per day). This is because the pool cannot grow fast enough (exchange volume is too small) and the block reward does not change because we cannot implement the variable block reward on only one exchange (or we would risk, much worse, instability in the code).

The team is deciding exactly how to combat this, and it will either involve adjustments to the block reward or expenditure toward affecting the other 2 factors in the system. The first solution would come along with KGW adjustments to address concerns with the pulsating difficulty. Both of these are an attempt to provide a more realistic equilibrium, given that the current reward was chosen based on estimates from 3 weeks ago before the coin had launched.

In those estimates, we assumed a larger exchange volume, a lower rate of selling by miners, and a higher amount of new users and initial demand. The other solutions will involve capital spent (out-of-pocket, not the premine, as that would crash the market) on coding, media and exchanges to implement long-term solutions that raise the 24h volume and allow us to eventually implement the variable block reward. If we bought coins, that would be a short-term and very silly way, since, in one way, the equation is currently out of balance. Dumping BTC or AIR on either side does not make it self-sustaining.

It is not really a matter of panic or instability, if we did not have the investment pool at all, the price and volume would be much lower (~.001 and 10 BTC/day) and far more volatile. But a matter of underestimated rates. These last two days have given us enough data to experiment with to know, definitively, what economic forces are in play. As of today, we completely understand the problem and it's just a matter of deciding how to use our resources to reverse the trend, as explained before, there are quite a few options.

We are still deciding exactly what to do, and new options may present themselves, but those are the most viable solutions currently. Expect a definitive answer soon.

If you are worried about losing BTC, I will repeat looking toward the investment pool, which is growing despite the downturn in the market, as a demonstration on how to make profit in a downturn market.

Please quit the empty phrases of stability at this point. It may have recovered from each dump, but not a single time to the price it was previously. Price is still going down, not up. 10-15% every day since listed.

Yep, that's exactly what happened. Some poor whale lost some money to AIRcoin stabilizing bots

Let it be a warning to all future whales who try to manipulate the market system.

Had to run a 300 mile taxi service for my daughter last night  so couldn't get to airchat.

I will be there tonight assuming I can lay-low from the kids for awhile.... 

Me too, is it possible that someone is dumping and re-buying just to dump at a loss again? I realise this happens all the time, but usually for profit, whereas these dumps are costing the dumpers by the looks of it.

RTFM!

Really, you would do well to read, or perhaps re-read, the white paper and other documents produced by the team.

The answers to all your questions are in there and it would help you to understand what the devs are trying to achieve.

Look at the charts since exchange launch, the line is incredibly flat, this is what the devs were trying to achieve in the early stages. Now look at DOGE or Maza, the graphs are insane and a lot of people have lost a lot of money. I was speaking to a guy yesterday who put 42BTC into maza at it's height - now he has something to bitch about.

If you want to be a millionaire overnight this is not the coin for you. If you want to invest in a coin that has a genuine chance of being long-term and used in the real-world - well, read the white paper.

Very impressed with AIr's stability lately as its been under constant siege.

According to some simple math i did, over 50% of total AIR supply has changed hands.. I see it as a good thing. 50% of people have now bought at a higher price, and will hold until they see their profits.

I firmly believe we have seen the end of it. Expect big things out of the price in the coming weeks.

 Perhaps we were a bit too optimistic at the start and a handful of whales took advatange of us.

No matter! thanks for the cheap air.

You are assuming that the price won't recover after a dump to .00062, but the charts don't bear this assumption out.

So far, Air has recovered from any dumps very quickly.

+1

Got heaps of aircoin, but I do think the coin will die if the devs are not publicly transparent about the premine and themselves, unless the dev has thousands of bitcoins to pump this thing up, which I doubt he has lol. but anyways, without the premine the real marketcap is around 76k ahw, next buy wall is @ .00062 if some early miner decided to dump his coins, we will be seeing a third of the real market cap around 26k basically on par with most of dead coins..

Right....please dev,expain what's happening!

I have seen AIRCOIN, read: STABLE,RISING ECHANGE RATE.

And bought 1btc of aircoin at 0.00196 cause you have say that below 0.002 was a good investement.

Now they arer quoted 0,00158 and very few buy,means that theyr quote will DRAMATICALLY decrease next hours.

From the day that i have bought them i have just starting to loose....

Seems 5 financial expert don't make a great work till now. Hope this coin is not just an experiment, and within some months it will die and dev starting a new one from ashesh of aircoin.

I mean....seems that aircoin is only a TEST from financial expert landed in cryptocurrency for first time.
And they know how to sell a product,that is dramatically falling down....

It's not stable or solid right now, there's only 4.2 BTC on the buy side and 2.7 of that btc is at 0.00065. I don't understand how a team of 5 guys who are supposed to have trading experience can't put up like two or three btc initially each into the investment pool to kick start it. Instead it starts of with zero and there's no support.