Getting close to 8000 again. 
probably the dump stage
it's not yet 2 hours until the twitter announced pump^^
Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 1242. (Read 2510350 times)
probably the dump stage
it's not yet 2 hours until the twitter announced pump^^
Getting close to 8000 again.
probably the dump stage
Getting close to 8000 again.
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Excellent work! I am working on a BC centric exchange, when if we can get the liquidity going I will be giving discounts to mutlipools for converting into BC.
That sounds awesome! Please keep me posted I'll be glad to keep the business within the BC community!
This "dynamic interest" idea inspired me and I am considering including it in a larger scheme. More on this later (yeah, I like teasing 
)
I'm glad you're interested in the idea, but could you stop spamming it in the BC thread as it has nothing to do with BC? Thanks.[/quote]Quite the opposite, indeed. It has something to do with BC. More on this later. )You're getting into the massive increase in productivity with the subsequent massive decrease in wages compared to economic output. If wages has maintained their ratio to productivity then we would all be making very livable wages just like our parents and grandparents.
If we all were making liveable wages for the past 20 years, then its likely crypto may have never been created.
Read this. Enlightening.If we all were making liveable wages for the past 20 years, then its likely crypto may have never been created.
http://www.strikemag.org/bullshit-jobs/
(tl;dr: most of our job are useless but we are trapped in a mental system where you are supposed to work, even it it is not necessary)
I call this the labor transition, for similarities with the demographic transition.
natality => job demand
mortality => job offer
population growth => unemployment
Phase 1: full employment
Phase 2: growing unemployment, crisis, desperation.
Phase 3: seeing the light at the end of the tunnel; solution envisionned (Oscar Wilde's slavery of the machines; we may move to a situation similar to US antebellum, but without the ethical issues; other solution is basic income, yet another is lowering the barriers to entry -- MOOC, crowdfunding, 3D printing, open source)
Phase 4: we found a way to live in a "post-work" society and we are finally fine with it
We presently are between phase 2 and phase 3.
Here is the illustration (French but should be easy to understand - "chômage" means "unemployment")
And the article in English that a workmate wrote then translated after I encouraged him to extrapolate on my theory:
http://ieet.org/index.php/IEET/more/roux20140314
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Excellent work! I am working on a BC centric exchange, when if we can get the liquidity going I will be giving discounts to mutlipools for converting into BC.
The only thing that could beat BlackCoin, imho, is a currency that paid interest based on volume transacted, using some algorithm to determine which transactions were truly long-running investments and rewarding those with a higher long-term interest rate (i.e., you start by earning A% per coin per 8 hours, but after a X amount of time determined by the liquidity of the market you top out at B%, some adjustable rate of interest based on an algorithm that determines how tight the money supply should be; holding coins longer than that, it starts to go back down). In the meantime, having a very low fixed rate of interest effectively allows BC to be a carry trade instrument for Mint and other high-yield coins, should prices stabilize after a couple of years. And whatever happens to the other coins, it can remain so.
A coin with a rate of interest adjusted by the transaction volume is a very nice idea. Maybe, we'll see one eventually. A currency based on the equation of exchange:http://en.wikipedia.org/wiki/Equation_of_exchange
with an interest rate algorithm designed to keep prices (roughly) constant would be very appealing.
)And such system probably can be exploited eg.l fake walls self buying and selling.
1% for me is good as it is.
From point of view in BC you have dynamic intrest every time you want cash out to fiat lol
.2weeks ago you get in fiat eg 0.1$ from POS minig today 0.5$ as you see market regulate itself on their own.
In reality BC have dynamic interest rate:D ^^ just try everyday cash out to fiat and you will see.
Apart from the odd stash sell off no one is selling their coins in substantial chunks - we are going up from here I think. Despite my anger towards the market manipulator earlier I managed to make 5000 BC of it so I guess we both won in the end haha
It seems like you made the wrong move earlier today but you corrected it afterwards with a very good move
Anyway, only time will tell. These things will happen again and again and again ...
Perhaps, although it does now appear to have been the right one! haha I'm sure it will -but we have started an upward trend now, the dumps will end at higher and higher price levels and the pumps will hit higher and higher. Probably hit 8000 within 6 hours, maybe 8200 stabilised in 12. I think whoever it was who was manipulating the market had two aims: 1. To buy up as many BC as he could from us as cheaply as he could 2. To see just how low he could dump the price before buy support kicked in good and proper - In reality while many lost coins to him (myself not one of them thankfully) he has set a new floor in what we could probably call 'worst case' conditions (a massive panic with Cryptorush centred around BC, along with a massive market manipulator dumping the price lower and lower) - as we are unlikely to see such bad news/publicity for a while and the new floor has been set it is likely we will be on the rise once more.
Tell the upward trend to wait. I'm still buying.
Haha well I sold all at 7624, that seems to be the peak of this pump - will buy back when the dump occurs - we gonna go down big though because a lot of the BTC introduced here is from idiots who see a twitter post and pour their BTC into whatever they are told, they will get scared when they see the buy orders dissappear and dump - probs back to 7100~ Id say, although impossible to tell, only way to work it out is to check the volume bought, workout the average price paid, then subtract 15% which is in my opinion the average ammount your general pumper loses by getting involved in pump and dump scams - the announcer is the one making all the dough here...and me hehe
Ok. I'm going to hold you to that!
The only thing that could beat BlackCoin, imho, is a currency that paid interest based on volume transacted, using some algorithm to determine which transactions were truly long-running investments and rewarding those with a higher long-term interest rate (i.e., you start by earning A% per coin per 8 hours, but after a X amount of time determined by the liquidity of the market you top out at B%, some adjustable rate of interest based on an algorithm that determines how tight the money supply should be; holding coins longer than that, it starts to go back down). In the meantime, having a very low fixed rate of interest effectively allows BC to be a carry trade instrument for Mint and other high-yield coins, should prices stabilize after a couple of years. And whatever happens to the other coins, it can remain so.
A coin with a rate of interest adjusted by the transaction volume is a very nice idea. Maybe, we'll see one eventually. A currency based on the equation of exchange:http://en.wikipedia.org/wiki/Equation_of_exchange
with an interest rate algorithm designed to keep prices (roughly) constant would be very appealing.
)When markets were controlled by a relative few who had almost all the hard currency -- e.g. in the 1890s -- large-scale capital investment was impossible for up-and-comers. Thus Ma Bell, Standard Oil et al. couldn't be challenged by people with better ideas. The end result was a loss of efficiency in the system as a whole, until the government broke them up.
Yep. In my transhumanist conferences, I call it "lowering the barrier to entry". This is what open source, MOOC, crodfunding or 3D printing do: they lower the barrier to entry, wich makes any dwarf a giant.Of course, current giants don't like it, that's understandable (rent-based economy).
As a little side note, I learned something really interesting about economics by opening the first Bitcoin casino... I learned that people gamble when the currency loses value (or in other words, inflates). It may seem obvious, but it wasn't obvious to me at the beginning. I used to be terrified that Bitcoin would go down because our holdings would lose value. But I realized pretty soon that that's exactly when people gamble their coins.
If you look at the profit on just-dice.com and compare it with the profit at doge-dice.com, you will notice the same trend: doge-dice is more profitable, probably because people care less. The only thing that could beat BlackCoin, imho, is a currency that paid interest based on volume transacted, using some algorithm to determine which transactions were truly long-running investments and rewarding those with a higher long-term interest rate (i.e., you start by earning A% per coin per 8 hours, but after a X amount of time determined by the liquidity of the market you top out at B%, some adjustable rate of interest based on an algorithm that determines how tight the money supply should be; holding coins longer than that, it starts to go back down). In the meantime, having a very low fixed rate of interest effectively allows BC to be a carry trade instrument for Mint and other high-yield coins, should prices stabilize after a couple of years. And whatever happens to the other coins, it can remain so.
A coin with a rate of interest adjusted by the transaction volume is a very nice idea. Maybe, we'll see one eventually. A currency based on the equation of exchange:http://en.wikipedia.org/wiki/Equation_of_exchange
with an interest rate algorithm designed to keep prices (roughly) constant would be very appealing.
) Apart from the odd stash sell off no one is selling their coins in substantial chunks - we are going up from here I think. Despite my anger towards the market manipulator earlier I managed to make 5000 BC of it so I guess we both won in the end haha
It seems like you made the wrong move earlier today but you corrected it afterwards with a very good move
Anyway, only time will tell. These things will happen again and again and again ...
Perhaps, although it does now appear to have been the right one! haha I'm sure it will -but we have started an upward trend now, the dumps will end at higher and higher price levels and the pumps will hit higher and higher. Probably hit 8000 within 6 hours, maybe 8200 stabilised in 12. I think whoever it was who was manipulating the market had two aims: 1. To buy up as many BC as he could from us as cheaply as he could 2. To see just how low he could dump the price before buy support kicked in good and proper - In reality while many lost coins to him (myself not one of them thankfully) he has set a new floor in what we could probably call 'worst case' conditions (a massive panic with Cryptorush centred around BC, along with a massive market manipulator dumping the price lower and lower) - as we are unlikely to see such bad news/publicity for a while and the new floor has been set it is likely we will be on the rise once more.
Tell the upward trend to wait. I'm still buying.
Haha well I sold all at 7624, that seems to be the peak of this pump - will buy back when the dump occurs - we gonna go down big though because a lot of the BTC introduced here is from idiots who see a twitter post and pour their BTC into whatever they are told, they will get scared when they see the buy orders dissappear and dump - probs back to 7100~ Id say, although impossible to tell, only way to work it out is to check the volume bought, workout the average price paid, then subtract 15% which is in my opinion the average ammount your general pumper loses by getting involved in pump and dump scams - the announcer is the one making all the dough here...and me hehe
with an interest rate algorithm designed to keep prices (roughly) constant would be very appealing.
I know. I probably shouldn't have said it in this forum, because someone else will do it and become insanely wealthy from it. Hopefully they won't do it stupidly and ruin the idea (anyone who wants to do this should email me first, and build some sims ...has anyone ever built a sim before launching one of these coins??? I do it before launching every new card game or slot machine). For the time being though, BC is as good as it gets from a fundamental perspective; and even if such a coin appeared tomorrow, BC would be a great alternative/carry instrument for it, so they would be complimentary.
Did your speech is very negative, but also give us some reminders
Still thank you for your advice bluntly
Apart from the odd stash sell off no one is selling their coins in substantial chunks - we are going up from here I think. Despite my anger towards the market manipulator earlier I managed to make 5000 BC of it so I guess we both won in the end haha
It seems like you made the wrong move earlier today but you corrected it afterwards with a very good move
Anyway, only time will tell. These things will happen again and again and again ...
Perhaps, although it does now appear to have been the right one! haha I'm sure it will -but we have started an upward trend now, the dumps will end at higher and higher price levels and the pumps will hit higher and higher. Probably hit 8000 within 6 hours, maybe 8200 stabilised in 12. I think whoever it was who was manipulating the market had two aims: 1. To buy up as many BC as he could from us as cheaply as he could 2. To see just how low he could dump the price before buy support kicked in good and proper - In reality while many lost coins to him (myself not one of them thankfully) he has set a new floor in what we could probably call 'worst case' conditions (a massive panic with Cryptorush centred around BC, along with a massive market manipulator dumping the price lower and lower) - as we are unlikely to see such bad news/publicity for a while and the new floor has been set it is likely we will be on the rise once more.
Tell the upward trend to wait. I'm still buying.
Doge never removed cap that cap in reality that cap never exist...
Doge dev just by copied Lotto coin source.
When others explained him that Doge don't have cap he understood Lotto inflation concept to keep Lotto alive...
So he wanted Doge to be alive and he sticked to original Lotto concept.
______________________________________________________
Is big concern to balance 2 things in POS.
In POS p2p type you need nodes to keep coins allive how keep coin allive and decentralized ?
Pos miners have to get something in return keeping POS alive and secure.
More big holders is online more secure network is. To keep people online you need some reward
pure POS like BC need reward even that 0.05 BC in few hours is matter.
People like me like seeing that they have some reward for keeping network alive.
8h intervals are enough to not overload network in same time.
Pricipal of BC is 1%=deflation=store of value.With such inflation in future you can even lower fees to 0...
And keep network alive.
___________________________________________________________
About distribution you all know that BTC story with pizza for 10000BTC...
People had thousands of BTC in pockets does it matter now ?
Same story is with BC all big stack holders have their own price.
BC need some time "dump and pump" or let say rises and corrections to give BC to many hands.
this process will take time.
How long took BTC to rise 1000x ? 4 years many trades many crashes here will be same.
Doge dev just by copied Lotto coin source.
When others explained him that Doge don't have cap he understood Lotto inflation concept to keep Lotto alive...
So he wanted Doge to be alive and he sticked to original Lotto concept.
______________________________________________________
Is big concern to balance 2 things in POS.
In POS p2p type you need nodes to keep coins allive how keep coin allive and decentralized ?
Pos miners have to get something in return keeping POS alive and secure.
More big holders is online more secure network is. To keep people online you need some reward
pure POS like BC need reward even that 0.05 BC in few hours is matter.
People like me like seeing that they have some reward for keeping network alive.
8h intervals are enough to not overload network in same time.
Pricipal of BC is 1%=deflation=store of value.With such inflation in future you can even lower fees to 0...
And keep network alive.
___________________________________________________________
About distribution you all know that BTC story with pizza for 10000BTC...
People had thousands of BTC in pockets does it matter now ?
Same story is with BC all big stack holders have their own price.
BC need some time "dump and pump" or let say rises and corrections to give BC to many hands.
this process will take time.
How long took BTC to rise 1000x ? 4 years many trades many crashes here will be same.
BlackCoinMiner.com NOW ONLINE!!
Thank you to everyone that helped with the testing during beta! This new mining pool was constructed because I believe everyone should have a choice when decided where they want to mine. This pool has 0% mining fee (FOREVER). Live stats so no need to refresh the page, soon there will be coin voting and even more stats on your miner page. Please leave your feedback and if you have questions join us on IRC #BlackCoinMiner (freenode)
Website: BlackCoinMiner.com
Email: [email protected]
Good job and thank you! I already have one of my smaller rigs hashing away!
BlackCoinMiner.com NOW ONLINE!!
0% Mining Fee
Thank you to everyone that helped with the testing during beta! This new mining pool was constructed because I believe everyone should have a choice when decided where they want to mine. This pool has 0% mining fee (FOREVER). Live stats so no need to refresh the page, soon there will be coin voting and even more stats on your miner page. Please leave your feedback and if you have questions join us on IRC #BlackCoinMiner (freenode)
PS. We are seeking moderators for the IRC. If you are interested please drop a line. 10 BC a day pay!!
Website: BlackCoinMiner.com
Email: [email protected]
Apart from the odd stash sell off no one is selling their coins in substantial chunks - we are going up from here I think. Despite my anger towards the market manipulator earlier I managed to make 5000 BC of it so I guess we both won in the end haha
It seems like you made the wrong move earlier today but you corrected it afterwards with a very good move
Anyway, only time will tell. These things will happen again and again and again ...
Perhaps, although it does now appear to have been the right one! haha I'm sure it will -but we have started an upward trend now, the dumps will end at higher and higher price levels and the pumps will hit higher and higher. Probably hit 8000 within 6 hours, maybe 8200 stabilised in 12. I think whoever it was who was manipulating the market had two aims: 1. To buy up as many BC as he could from us as cheaply as he could 2. To see just how low he could dump the price before buy support kicked in good and proper - In reality while many lost coins to him (myself not one of them thankfully) he has set a new floor in what we could probably call 'worst case' conditions (a massive panic with Cryptorush centred around BC, along with a massive market manipulator dumping the price lower and lower) - as we are unlikely to see such bad news/publicity for a while and the new floor has been set it is likely we will be on the rise once more.
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