Topic: [ANN] *PXL COIN* Mandatory Client Update / now supports Kimoto Gravity Well! - page 37. (Read 67835 times)

Blade, sounds like you are talking about inflation of fiat currency...  LOL...  But seriously that should not be taken lightly because you are correct, 1 PXL would equate to an unknown amount of PXLs, it is a very fine border between a definitive amount of currency like cryptocurrencies and fiat currencies.  

I don't see the coins being burned.
If those coins are re sold that severely devalues the coin
That's a red flag to me. For the time being I am not mining this coin for that reason.
If there is no transparency in where the pixels go there is less chance of this being successful

Fair enough since its early.

But just a note I'm sure you're aware of : given of how this coin is setup, if you do resell them, it's going to artificially increase their supply and devalue them considering what the community sees them as being backed by. Miners are expecting 1PXL to be worth, well... one pixel. If the same PXLs are being sold multiple times over and over by devs, then 1 PXL is no longer really worth that? And then uncertainty = speculation. We know it's worth something, just not "how much" anymore. And the same would go for those looking to buy PXLs to obtain space.

Anyway, I hope you guys get something figured out that will really benefit both sides. If you have demand for more advertising, you could always set something up "outside" of the PXL space. Not to mention fee profits you would receive from the trading/transferring of "PXL space" if the advertising gets big.

Absolutely love the idea of this coin! 

Let me answer a few questions:

What happens to PXLs sent to the website to purchase pixel space?
As of now we are focused on maintaining the coin and website.  Currently we don't plan on selling any coins. However this may change in the future and will depend on many factors, such as how many coins are available and what the demand is for advertising space on the site.  Most coins are not backed by anything.  PXL Coin is backed by advertising and a team of developers who work hard to make that advertising happen.  Once we have a more official policy, we will announce it. 

Can we resell our space?
One problem with this is we would have to track who-owns-what.  This is ultimately more work for the devs.  So we will charge a fee of 10% of the total sale to have this option in the future. So if your price for space is 600PXL, for an additional 60 PXL we will let you change the image in the future.  Each change will also cost 10% of the original price.   If you want to purchase this option, let us know.  I will add it to the form when we implement the ordering form but for now just mention it in your email / PM. Also, ad space will be owned by a specific email address.  We will keep track of this in our database.  All requests must come from that email address, and if you lose access to that address, we will have no other way to verify the request. When you want to make a "change", you can also transfer ownership to a NEW email address.

Will the size of the pixel wall change?
Currently the grid is 1000x1000.  We do plan to increase it to 1920x1080 (full HD). After that we may upgrade to "4k".  We also have other creative projects we are working on where people will be able to spend their PXL coins.  It does not end with pxlcoin.com!

+1 for burning the coins
+1 transferable ad space

straight from devs, the image can be changed for a fee. not sure if its decided the fee yet.

so this should facilitate the ability to "sell your ad space" provided the fee is reasonable, which I would expect it to be.

as far as transferring your ad space to another party, we can expect to hear from devs what the policy is. I assume when you buy space you create an account id and that is how you can update your image (for a fee) and that this account will likely be transferable to another party. they will probably cap the transfers/time, eg 1 tx / month / space.

other interesting details to know:

-if transferable can we split up spaces or combine them?, what is the layout scheme for expansion to full size? can you select the exact position your image will show or do you request a general area?

This is really great!!

- I support 4K final image size (4K monitors will become more mainstream in another year or two).
- I support PXL burning as recycling PXLs defeats their whole purpose. Every PXL should forever be backed by space on the website.
- I support transferable ad space to help prevent PXL hoarding as people may be less inclined to purchase space if it's a one way purchase.

I really think the last one is interesting, because over the time the dev could make a time lapse video (maybe one frame per month) so we could look back at how the crypto market + internet evolved in sped up time.

This could turn out to be one of the most unique cryptos ever invented.

"Burning the coins" would drive the price through the roof once the advertising bit takes off.  It would make mining new coins highly sought after.  I am also game with the reselling of the ad space as well.

Either way, it all leads to profitability of the website and coins.  All good ideas!

Wow...Interesting idea.. maybe 3rd party exchange on the image space down the road, or sooner,.. and pixel squatters!  I'll let trip repond tho 

BTW anyone building clients please use most recent source,  new seed node, correct splash, speed up new user sync,etc.

Official QTs (and updated client for pools) will be posted later today after another update.

good questions... info on which should also be added to the main site.

wondering the same thing.

Will the image space be transferable to another party ie can I resale my ad space? Can the links/images be changed?

Are you going to be able to change the image later?

One way to permanently spend the coins on the site is once the payment is received and the image is posted to the wall the devs can then send the payment to a non-usable wallet address. This would be a way of 'burning' PXL - something similar to what Counter Party is doing. For those not familiar with that, it goes something like this:

Steps:
1) You send your email/payment/url/image to pxlcoin wall
2) Devs post the image on the wall
3) Devs send the payment to a wallet address like: 1PXLWALLxxxxxxxxxxxxxxxxxxxxxxxxxa
(There is a checksum and you need to find a good address that you would be able to send the coins to.. but that's the basic idea)
4) The payment AND burn is then visible on the block explorer - this can even be made public on the PXLcoin web site with a filter just to show these payments.

Obviously that's just one way to do it.. but it should be fairly simple and straight forward. This would address the concerns of many.

Cheers!

ya and I want to point out I don't fear for the future of the coin, I think its first to market with a unique selling point, very interesting to see what develops. I think there is some good entertainment value here, and will be a cool project to see what people use the space for. my only concern is that unless everyone is thinking the same way the market could correct abruptly as people realise it operates differently than they thought.

I don't see a problem with either route, so long as its well explained how it will work, the built-in price laddering will ensure relative stability over the short-term, but over the medium term the expected fill rate changes dramatically if we assume all PXLs redeemed will be sold back into the market immediately. I don't really expect the market to accurately price this in, but at least those of us thinking about it can pretend we know whats going on.

This is a good question, and will ultimately have to be answered by Trip. I can say The launch was way more than expected TBH, We are ~30 something hours into launch so still trying to get caught up on the basics: messages,webpage, client, network, automation, sleep( I was just working on having the actual image show in each client, can decide on final image size later,(I vote 4k) with click-able links in client like the web page) so I'm sure he can address it when he's on in a bit, hang in there.  

i agree we need to know the mechanism for management of pixel turnover, if any.

there is a problem with unlimited turnover if the devs intend to dump back into the market, that's why i haven't been interested in paying top prices for the coins.

i haven't said anything so far hoping they address the issue publicly, but i haven't seen the explanation yet. if there is a statement somewhere plz link/post it here, PXL devs, explain the plan with PXL turnover plz.

eg flip onto market @ market rate upon receipt could turnover all the available pixels rather quickly, even with laddered pricing in effect, when compared to a model where the pixels are absorbed permanently by the PXL devs/site and not redistributed to market.

we need to know which is the case to value the coin, otherwise there is too much risk of market collapse to support these high prices everyone is posting.

Lets try to spend one