A note on CDOs, CDOs were a huge issue because they were being stamped as AAA investments,
You've seen the Muppet Show haven't you? Somehow the banks ignored their conflict of interest, and it ended very badly for investors.
Topic: [ANN] AIRcoin - page 63. (Read 137265 times)
Somehow the banks ignored their conflict of interest, and it ended very badly for investors.
Ok, so the trades alone are not going to make the coin live... and be self-sustaining, even with the best market manipulation.
What is being done for services, integration, and "Ease of customer use". (Lets face it, these wallets intended for mining and geeks, are NOT customer friendly, at all.)
What we need is a wallet, that is simply a wallet, with wallet-tools. (A KISS program that doesn't require users to create files and open ports and setup RPC and add nodes or show technical useless information, while it actually has the missing user-demanded functions that no wallet has.)
Missing things...
- Manual paper-wallet details (For use to manually back-up or create a wallet and the keys.)
- CSV text-exporting of all wallet addresses, for recreation that the "raw wallet" can not do, when restoring from an older wallet with only the original 100 pre-made addresses in it. The additional addresses beyond that 100 become lost forever. You can never guess what they were. Unless you use a "fixed repeatable pseudo-random number generator and a seed". Which these wallets do not have. They are random by time. Thus, not repeatable.
- CSV text-exporting of transaction data, for records, which can actually be read by spread-sheet programs.
- QR-Codes (Easy and free to add to the wallet.)
- Encryption-safety (Telling people they will lose all the coins in the wallet is not only stupid, but unnecessary. The wallet could easily "create a new encrypted wallet, and simply deposit the coins from the unencrypted wallet, into the encrypted wallet that is made. Then, once successfully transferred, the old unencrypted wallet could be archived, just in-case, and the encrypted wallet made the primary wallet. That was just a way to destroy innocent coins, and did NOT have to be done that way. Don't contribute to that fucked-up programming ethic.)
- No mining crap in the "consumer wallet", that is just bloat.
- Fast-DB, since consumers don't need the WHOLE chain. They only need the portions relevant to them, from the date the wallet was created. In time, they could get the summary or whole compressed DB, but we should be sending them the "fast-db" results only relevant to them. (They still can't spend coins that they don't have, so it would not even matter if the whole chain was complete for them. If they actually need it, then it should be a background thing, not a primary limitation of the wallet.) Only miners need the whole chain. Also, in the event of forking, the wallets need some way to "revert to an earlier date", so they can attempt to get on the right chain. No wallet, to date, does this. We all have to delete the whole chain, revert manually to a back-up if we have one, then attempt to get on the new chain... Repeat if we get screwed and get stuck on the wrong chain again. (EG, give us a block-number to revert to. You UNDO all those blocks, down to the number we set, where we can get to the point before the fork. This number should also be included in any updates, as the last known "forward" point. That, or broadcast by the devs, on the network, between checkpoints.)
Then we need reasons for people to buy the coins, besides hoarding.
Gambling is not a good source of value. People pay, people win, dealers cash-out, winners cash-out. Unless the gambling holds a ton of coins for a long time, it is not a source of value increase. (That would be actual losses, like a wallet-eater or some stupid code like destroying your coins by encrypting your wallet after coins are already in there.)
Someone has to have an easy way to setup shop, without having to be a programmer or linux-user, for integration. (Simple server daemons, exchange-API services, with cut/paste code for common web-shop programs and CMS's. Oh, and something to convince them to have a "buffer" of coins, as instant exchange value, and showing them how to "keep coins" when values are low, and only "direct cash-out" when values are high. If they are willing to take that risk.)
Offline printable QR-coded paper-wallets... (I use the creators code in the link below, for offline wallet creation. It has to be programmed for AIRcoin's attributes.)
https://www.bitaddress.org/bitaddress.org-v2.8.1-SHA1-a6e63f2712851710255a27fa0f22ef7833c2cd07.html
Gotta go to the git-hub and make a branch for AirCoin... (It is intended to be saved to your desktop, and run offline. All code is self-contained in the HTML itself, including the images.)
Paper-wallets are like gift cards... they always have change that is never spent, some get lost, some get destroyed... that is instant value. Not to mention, if they took the time to print a paper-wallet, they are planning on holding securely for a while.
What is being done for services, integration, and "Ease of customer use". (Lets face it, these wallets intended for mining and geeks, are NOT customer friendly, at all.)
What we need is a wallet, that is simply a wallet, with wallet-tools. (A KISS program that doesn't require users to create files and open ports and setup RPC and add nodes or show technical useless information, while it actually has the missing user-demanded functions that no wallet has.)
Missing things...
- Manual paper-wallet details (For use to manually back-up or create a wallet and the keys.)
- CSV text-exporting of all wallet addresses, for recreation that the "raw wallet" can not do, when restoring from an older wallet with only the original 100 pre-made addresses in it. The additional addresses beyond that 100 become lost forever. You can never guess what they were. Unless you use a "fixed repeatable pseudo-random number generator and a seed". Which these wallets do not have. They are random by time. Thus, not repeatable.
- CSV text-exporting of transaction data, for records, which can actually be read by spread-sheet programs.
- QR-Codes (Easy and free to add to the wallet.)
- Encryption-safety (Telling people they will lose all the coins in the wallet is not only stupid, but unnecessary. The wallet could easily "create a new encrypted wallet, and simply deposit the coins from the unencrypted wallet, into the encrypted wallet that is made. Then, once successfully transferred, the old unencrypted wallet could be archived, just in-case, and the encrypted wallet made the primary wallet. That was just a way to destroy innocent coins, and did NOT have to be done that way. Don't contribute to that fucked-up programming ethic.)
- No mining crap in the "consumer wallet", that is just bloat.
- Fast-DB, since consumers don't need the WHOLE chain. They only need the portions relevant to them, from the date the wallet was created. In time, they could get the summary or whole compressed DB, but we should be sending them the "fast-db" results only relevant to them. (They still can't spend coins that they don't have, so it would not even matter if the whole chain was complete for them. If they actually need it, then it should be a background thing, not a primary limitation of the wallet.) Only miners need the whole chain. Also, in the event of forking, the wallets need some way to "revert to an earlier date", so they can attempt to get on the right chain. No wallet, to date, does this. We all have to delete the whole chain, revert manually to a back-up if we have one, then attempt to get on the new chain... Repeat if we get screwed and get stuck on the wrong chain again. (EG, give us a block-number to revert to. You UNDO all those blocks, down to the number we set, where we can get to the point before the fork. This number should also be included in any updates, as the last known "forward" point. That, or broadcast by the devs, on the network, between checkpoints.)
Then we need reasons for people to buy the coins, besides hoarding.
Gambling is not a good source of value. People pay, people win, dealers cash-out, winners cash-out. Unless the gambling holds a ton of coins for a long time, it is not a source of value increase. (That would be actual losses, like a wallet-eater or some stupid code like destroying your coins by encrypting your wallet after coins are already in there.)
Someone has to have an easy way to setup shop, without having to be a programmer or linux-user, for integration. (Simple server daemons, exchange-API services, with cut/paste code for common web-shop programs and CMS's. Oh, and something to convince them to have a "buffer" of coins, as instant exchange value, and showing them how to "keep coins" when values are low, and only "direct cash-out" when values are high. If they are willing to take that risk.)
Offline printable QR-coded paper-wallets... (I use the creators code in the link below, for offline wallet creation. It has to be programmed for AIRcoin's attributes.)
https://www.bitaddress.org/bitaddress.org-v2.8.1-SHA1-a6e63f2712851710255a27fa0f22ef7833c2cd07.html
Gotta go to the git-hub and make a branch for AirCoin... (It is intended to be saved to your desktop, and run offline. All code is self-contained in the HTML itself, including the images.)
Paper-wallets are like gift cards... they always have change that is never spent, some get lost, some get destroyed... that is instant value. Not to mention, if they took the time to print a paper-wallet, they are planning on holding securely for a while.
What we have provided, by definition, is reasoning, evidence, and explanation. However, if the amount we haven't provided isn't sufficient enough for you, or if you don't agree with what we have provided, then do not buy AIRcoin.
I think I will buy some. In fact I bought as low as 0.001 just before, off some poor soul who panicked because the promised support was absentQuote
We sell small portions of the premine when necessary to prevent a price spike early on, as a mechanism of price stabilization. We don't sell when the market is falling, as it would defeat the purpose. The price would fluctuate more (crashing harder after higher rises) if we did not sell during spiking periods.
I can understand that might be good (for some), but, you have not dealt with the huge conflict of interest. You pump the coin and then sell spikes!If you want to know how Bitcoin is going to be regulated, or how seriously it is taken in financial business, you have to ask the people with the power to do it.
If only we lived in a democracy. We could tell them how to do it. Oh well.You are correct, and I recommend that if you want to prevent Bitcoin regulation, you should vote for Congressmen who will vote against SEC regulation bills regarding cryptocurrency, and that if you believe you have the best solution for regulation, then you should phone or write your congressmen describing the problems. You may also donate to the campaigns of new congressmen who are in support of Bitcoin in hopes they will be elected. However, beyond that, the individual citizen has little power in drafting or voting on legislation that passes through the US government, although you may consider using your right to protest to support Bitcoin. Another possibility is for you to run for congress yourself if you fit the qualifications. Those are the powers, quite clearly, that the citizens of the United States have to influence legislation.
I am not sure what parts you are reading, but I don't know how many more ways it can be said other than a one liner. Yes, they sell the premine for BTC to inject back into the market and invest in other opportunities to make more BTC, etc. They started with some BTC.
If they started with BTC then why do they need to sell AIR to investors from premine? Unless they didn't start with much BTC. I mean they have pumped the product then sold to buyers. Then the price has collapsed and some poor buyers have panicked and dumped.You don't see a conflict of interest?
Isn't that what the banks were criticized for. Pumping CDO's and selling them to clients?
We sell small portions of the premine when necessary to prevent a price spike early on, as a mechanism of price stabilization. We don't sell when the market is falling, as it would defeat the purpose. The price would fluctuate more (crashing harder after higher rises) if we did not sell during spiking periods.
A note on CDOs, CDOs were a huge issue because they were being stamped as AAA investments, erroneously under the belief that by packaging together many subprime mortgages it abated the risk of an individual one. This make them potentially high-yeild and a bubble ensued as a result, so long as the companies could keep their short-term risk in control. This is just one facet however of a very, very complex financial situation that resulted in the 2008 crisis, and the description here is very inadequate, but could give you an idea of the economic failures of such a system, from those improper risk measurements.
I forgive you. 
Maybe its my MSc Finance and being at the 'right hand' of real power that lets me know that Alexander is 100% correct. The 10billion Crypto is peanuts to the big boys. Perhaps you should stop showing your lack of experience and instead learn a thing or 2 
I worked for a global Investment bank for 9 years. I'm well aware of the fact it's peanuts. Maybe its my MSc Finance and being at the 'right hand' of real power that lets me know that Alexander is 100% correct. The 10billion Crypto is peanuts to the big boys. Perhaps you should stop showing your lack of experience and instead learn a thing or 2 But my experience in life is a little wider than that stint, and I know that money can't buy you some things.
Money can't buy you the ground that Bitcoin has taken. No Investment bank could possibly have dome what they have done, no matter how much money they threw at it.
In my opinion, personally, not reflective of the rest of AIRcoin, money can shrink the ground that Bitcoin stands on, and money can certainly tap into the much, much larger plot of land that Bitcoin is far too slow to expand into.
I forgive you. Maybe its my MSc Finance and being at the 'right hand' of real power that lets me know that Alexander is 100% correct. The 10billion Crypto is peanuts to the big boys. Perhaps you should stop showing your lack of experience and instead learn a thing or 2
I worked for a global Investment bank for 9 years. I'm well aware of the fact it's peanuts. Maybe its my MSc Finance and being at the 'right hand' of real power that lets me know that Alexander is 100% correct. The 10billion Crypto is peanuts to the big boys. Perhaps you should stop showing your lack of experience and instead learn a thing or 2 But my experience in life is a little wider than that stint, and I know that money can't buy you some things.
Money can't buy you the ground that Bitcoin has taken. No Investment bank could possibly have dome what they have done, no matter how much money they threw at it.
I forgive you. Maybe its my MSc Finance and being at the 'right hand' of real power that lets me know that Alexander is 100% correct. The 10billion Crypto is peanuts to the big boys. Perhaps you should stop showing your lack of experience and instead learn a thing or 2
But I think the problem is teamAIR want to impress the bankers but the white paper is so patronizing and condescending towards the crypto community. Not a recipe for success IMHO
Maybe its my MSc Finance and being at the 'right hand' of real power that lets me know that Alexander is 100% correct. The 10billion Crypto is peanuts to the big boys. Perhaps you should stop showing your lack of experience and instead learn a thing or 2 Thanks for the answers. This clears things up for me. Looking forward to "AIRcoin: The First 24 Hours"!
This coin could be fun to trade. We have already a severe shock which the experts did not forsee. So confidence will be shaky. Then we have some kind of commitment to support the coin, which will probably come into conflict with sensible trading.But I think the problem is teamAIR want to impress the bankers but the white paper is so patronizing and condescending towards the crypto community. Not a recipe for success IMHO
I am not sure what parts you are reading, but I don't know how many more ways it can be said other than a one liner. Yes, they sell the premine for BTC to inject back into the market and invest in other opportunities to make more BTC, etc. They started with some BTC.
If they started with BTC then why do they need to sell AIR to investors from premine? Unless they didn't start with much BTC. I mean they have pumped the product then sold to buyers. Then the price has collapsed and some poor buyers have panicked and dumped.You don't see a conflict of interest?
Isn't that what the banks were criticized for. Pumping CDO's and selling them to clients?
This is from the OP on page 1.
The 0.25% premine is exclusively for an investment pool that will day trade the coin (in various forms) against other cryptocurrencies. By growing the total BTC equivalent of this coin, the profits will be spend back on the AIR/BTC exchange rate, buying up for sale coins and raising the exchange rate long term. The Allied Investors trading floor, utilizing existing Cryptocurrency markets, can increase the rate by 5% per week. This approximately doubles the exchange rate every 3 months.
I am not sure what parts you are reading, but I don't know how many more ways it can be said other than a one liner. Yes, they sell the premine for BTC to inject back into the market and invest in other opportunities to make more BTC, etc. They started with some BTC.
Thanks for the answers. This clears things up for me. Looking forward to "AIRcoin: The First 24 Hours"!
This coin could be fun to trade. We have already a severe shock which the experts did not forsee. So confidence will be shaky. Then we have some kind of commitment to support the coin, which will probably come into conflict with sensible trading.But I think the problem is teamAIR want to impress the bankers but the white paper is so patronizing and condescending towards the crypto community. Not a recipe for success IMHO
If you want to know how Bitcoin is going to be regulated, or how seriously it is taken in financial business, you have to ask the people with the power to do it.
If only we lived in a democracy. We could tell them how to do it. Oh well. Quote
These companies,overnight, can assemble a team of developers and pay them more money than the entire cumulative value of the entire Bitcoin Foundation, and within weeks, develop a financial weapon that would end the future of Bitcoin as we know it.
No they can't. Alexander, you have provided no reasoning, no evidence, no explanation.
All you seem to have is a belief in the omnipotence of these guys, which you insist everyone must share.
Thanks for the answers. This clears things up for me. Looking forward to "AIRcoin: The First 24 Hours"!
Some people just refuse to read 
Let them try to manipulate the market. Im pretty sure Alexander will fix them just right
We've answered it a few times before, but we have BTC in the pool.
What does that mean?
Could you please answer my question with a yes or no? Thank u!
otherwise I am out, no transparency is a no go
This is from the OP on page 1.
The 0.25% premine is exclusively for an investment pool that will day trade the coin (in various forms) against other cryptocurrencies. By growing the total BTC equivalent of this coin, the profits will be spend back on the AIR/BTC exchange rate, buying up for sale coins and raising the exchange rate long term. The Allied Investors trading floor, utilizing existing Cryptocurrency markets, can increase the rate by 5% per week. This approximately doubles the exchange rate every 3 months.
Let them try to manipulate the market. Im pretty sure Alexander will fix them just right Quote
does that mean u sell the premine for BTC profit in order to bounce the market back 
We've answered it a few times before, but we have BTC in the pool.
What does that mean?
Could you please answer my question with a yes or no? Thank u!
otherwise I am out, no transparency is a no go
This is from the OP on page 1.
The 0.25% premine is exclusively for an investment pool that will day trade the coin (in various forms) against other cryptocurrencies. By growing the total BTC equivalent of this coin, the profits will be spend back on the AIR/BTC exchange rate, buying up for sale coins and raising the exchange rate long term. The Allied Investors trading floor, utilizing existing Cryptocurrency markets, can increase the rate by 5% per week. This approximately doubles the exchange rate every 3 months.
This is from the OP on page 1.
The 0.25% premine is exclusively for an investment pool that will day trade the coin (in various forms) against other cryptocurrencies. By growing the total BTC equivalent of this coin, the profits will be spend back on the AIR/BTC exchange rate, buying up for sale coins and raising the exchange rate long term. The Allied Investors trading floor, utilizing existing Cryptocurrency markets, can increase the rate by 5% per week. This approximately doubles the exchange rate every 3 months.
Quote
My concerns are that you are not disclosing who you are for a start and that there is nowhere near enough transparency about your methodology.
I also think the algo space will probably become too crowded, and that this will impact any projections you've made.
Are you and your team doing this for free? If not can you explain how you will be remunerated?
Good luck with it. I'll watch for now.
I also think the algo space will probably become too crowded, and that this will impact any projections you've made.
Are you and your team doing this for free? If not can you explain how you will be remunerated?
Good luck with it. I'll watch for now.
We choose to keep our individual identities anonymous to protect ourselves, but we are a US-based business behind the AIRcoin software. Our methods are explained in detail on our website (teamaircoin.org), and if you have specific questions, we can give detailed answers. Our team is paid.
I have a question to Alexander:
When is the block reward getting readjusted? Are there any plans, that will be made public soon? Milestones etc.? Will you bring more transparency regarding the investment pool?
Quote
The block reward has been fixed at 3.72 AIR per block and will readjust according to the exchange rate to promote stability and growth over the long term.
When is the block reward getting readjusted? Are there any plans, that will be made public soon? Milestones etc.? Will you bring more transparency regarding the investment pool?
We will wait until AIRcoin is listed on more exchanges before switching to the new block reward algorithm, to prevent one exchange from having the power to dictate the block reward. For example, a miner can stockpile coins and them dump them (or organize a DDoS against the exchanges) during an inactive time, taking advantage of the temporarily increased block reward for a few blocks until prices stabilize. This also gives us a little more time to do some additional testing. 3 Exchanges is sufficient redundancy to prevent this from happening, as the chances of multiple exchanges crashing at the same time becomes exponentially less likely as more are added.
As for the investment pool, we're going to release AIRcoin: The First 24 Hours, to outline its formation, function, and investment in the first 24 hours we had of trading. Expect this release very soon. After that, we will put out weekly releases and begin listing live data on our website.
A few remarks from the whitepaper.
[Suspicious link removed]j.com/news/articles/SB10001424052702303763804579183680751473884 The "suspicious link is this article...Andrew Huszar: Confessions of a Quantitative Easer, and can be found with google.
Why would anyone take what they have to say on this seriously?
Quote
Yet, from my own contacts at three of the largest financial institutions, I had confirmed my fears:
Bitcoin, in its current state, was unusable as a financial asset
So the boneheads who brought us the Global Financial Crisis, who can't even turn a profit without a government "subsidy", who are being bailed out, still, as we speak by selling their toxic MBS's to the Fed, think it won't work. http://www.bloomberg.com/news/2012-06-18/dear-mr-dimon-is-your-bank-getting-corporate-welfare-.htmlBitcoin, in its current state, was unusable as a financial asset
[Suspicious link removed]j.com/news/articles/SB10001424052702303763804579183680751473884 The "suspicious link is this article...Andrew Huszar: Confessions of a Quantitative Easer, and can be found with google.
Why would anyone take what they have to say on this seriously?
If you want to know how Bitcoin is going to be regulated, or how seriously it is taken in financial business, you have to ask the people with the power to do it. As many staunch believers there are in Bitcoin, surprisingly few of them have control over multi-billion dollar businesses or extremely large government reserves. Whether the cryptocurrency community agrees with federal policy or not, they move mountains, and Bitcoin remains a relative pebble.
Quote
does that mean u sell the premine for BTC profit in order to bounce the market back
We've answered it a few times before, but we have BTC in the pool.
What does that mean?
Could you please answer my question with a yes or no? Thank u!
otherwise I am out, no transparency is a no go
It isn't simple, but the process is described on our website. In essence: when the price rises dramatically, portions of the premine are sold for BTC. That BTC is invested in other markets, grown, and then used to purchase back AIRcoin. In addition, we have our own BTC that also supports the market in the event of sudden crashes. I'm sorry if our answer wasn't clear. There are lots of responses, and we are trying to address them quickly.
Alexander, don't expect newcomers to browse trough 50 pages to find an answer to one of the most important questions. You should update OP with FAQ. HOW are you going to acquire BTC for the trading pool? Selling from the premine? Are you investing your own coins?
We have a FAQ on our website, but it does need updating. The answer (same as immediately above) is yes, to both. Otherwise, there wouldn't be a use for the premine at all if it wasn't used as trading leverage to prop the price up.
Quote
does that mean u sell the premine for BTC profit in order to bounce the market back
We've answered it a few times before, but we have BTC in the pool.
What does that mean?
Could you please answer my question with a yes or no? Thank u!
otherwise I am out, no transparency is a no go
Did they begin with BTC in the pool or did they sell the premine for BTC??
Quote
does that mean u sell the premine for BTC profit in order to bounce the market back
We've answered it a few times before, but we have BTC in the pool.
What does that mean?
Could you please answer my question with a yes or no? Thank u!
otherwise I am out, no transparency is a no go
This is from the OP on page 1.
The 0.25% premine is exclusively for an investment pool that will day trade the coin (in various forms) against other cryptocurrencies. By growing the total BTC equivalent of this coin, the profits will be spend back on the AIR/BTC exchange rate, buying up for sale coins and raising the exchange rate long term. The Allied Investors trading floor, utilizing existing Cryptocurrency markets, can increase the rate by 5% per week. This approximately doubles the exchange rate every 3 months.
Quote
does that mean u sell the premine for BTC profit in order to bounce the market back
We've answered it a few times before, but we have BTC in the pool.
What does that mean?
Could you please answer my question with a yes or no? Thank u!
otherwise I am out, no transparency is a no go
Wasn't the automated trading program supposed to provide liquidity ? Spread is huge right now.
I'm also wondering where the team of highly skilled traders is. Wait... Not working in shifts ?
I hope I'm wrong and there is angood explanation for this.
I'm sending some BTC over to poloniex
I'm also wondering where the team of highly skilled traders is. Wait... Not working in shifts ?
I hope I'm wrong and there is angood explanation for this.
I'm sending some BTC over to poloniex
We saw nearly 1000 coins dumped at once, without warning, dropping the price down to .001,
There was something of a warning though. We first saw the bid thin out. Then no substantial bids for quite a few minutes. Then sales being ticked down, and no one coming in to support the market. I was bidding and kept pulling my bid back as the small bids underneath me vanished form the screen. That is just the kind of situation and experienced trader would know could lead to a panic.
It's not about the 1000 coin dump but also about the way the market began to look very very soft, and with it being a new controversial coin that's exactly when we might see exactly what happened
Alexander, don't expect newcomers to browse trough 50 pages to find an answer to one of the most important questions. You should update OP with FAQ. HOW are you going to acquire BTC for the trading pool? Selling from the premine? Are you investing your own coins?
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does that mean u sell the premine for BTC profit in order to bounce the market back
He is not going to answer that question. I asked a similar question on page 30 and got no response.
Quote
Can you elaborate on your price regulation plans? Are you planning to invest some bitcoins in the regulation pool as well?
We've answered it a few times before, but we have BTC in the pool.
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