Topic: [ANN] TagCoin - Multi Token Wallet and Trading Platform - page 71. (Read 301292 times)

Okay, quick question: How does the client internally store the TAG coin values? I notice that the official tagcoin-qt client only uses and displays 6 decimal places. Does that mean there is no such thing as 0.0000001 TAG? or the satoshi equivalent of 0.00000001 TAG?

Also, transaction fees are currently 0.001 TAG. It's 10x bigger than if it were bitcoin, but the fiat equivalent is of course smaller.

Nothing to do with the coin. Its an ad for a hardware store. Just coincidence. TAG (the coin) is going to go up next year.

Cool lol.
Has nothing to do with the coin right?
Is the new exchange already online?

I saw this billboard on the highway.

Yeah, my fiat money isn't clearing until Friday, but you also still haven't figured out how to make the rigs work properly, so, I guess we can wait until next year.

@Dabs - yes, that is what is planned..we will see how that pans out. As for the trade part of the site, most of the devs went off for holiday break, and off till 2 Jan, so we didn't want to make the trade engine open just in case there were bugs we could not fix till we came back. However, if you want to test it amongst yourselves, the far right of the buy/sell button is active (most of the button says trading not yet enabled)..The idea on the exchange is that you can trade any coin pair, as well as coin/currency. As you choose what you want to pay in, the trades change to reflect that pair. I don't think anyone has done it this way, and will see if that works. Once the basic engine is working, then we can add candlesticks and other reports. We will probably do that more on tagcash.com tho.

Not good news to have an accident over Xmas...wishing him all the best and quick recovery...

Thanks for the update. Wishing him a speedy recovery!!!

The admin of Tag.cryptopool.it posted on TagYak that he has been in a car wreck and will be absent for about a week while he recovers. His pool is running in auto at this time as it is difficult for him to perform any admin duties. You can read the original post here: https://tagyak.org/groups/tag-cryptopool-it/forum/topic/this-pool-is-not-accessible-and-admin-is-absent/

TagYak wishes him a speedy recovery and a merry new year!

I like the trade options. However it's not yet working. I cancelled my sell order on the exchange for now. I'll put it back up when it's ready to go.

I think the plan is to try to make the spread 80 / 100. Merchants should be able to buy 1 TAG = 100 PHP. Miners should be able to sell 1 TAG = 80 PHP. Let the people in between, including the tagbond platform, deal with the stuff in between, they can make their 20 PHP or something.

Unless the system is set up in place, businesses will not want to buy directly from miners. They will want to buy from the "official" source, and it will cost them 100 PHP.

Now, how about the other exchanges that handle USD and BTC and LTC and other alt coins? They will somehow adjust to the "official" rate, but they will be either cheaper or more expensive by a bit. There will be opportunities for traders to do arbitrage and stuff like that.

The miners still get 80 PHP per TAG, someone buys it. someone sells TAG a little cheaper, someone else buys it a little more. Doesn't matter.

Well, hopefully that's how it will turn out to be.

Now if a miner happens to find a merchant who will directly buy from him at 90 PHP per TAG, or a merchant finds a miner willing to sell it, it's still within range and they're both happy to skip the middle man. Basically, the spread is the price of escrow, in this case, the founder of the coin and the platform. Independent agents will show up to do the same thing, but businesses tend to trust other businesses, rather than individuals.

As with any crypto currency, the businesses will want to avoid the risks of losing their money, through an unverified or unconfirmed agent who could just disappear. They will pay a premium for that.

Miners, also, for the most part, don't want to send first without knowing who the buyer is, unless it's on an exchange or it goes through the tagbond site.

The price stabilizes, but eventually the price per TAG will go up over the years.

Tagbond uses either altcoins or cash given as rewards. You also have the option of using the normal points system that is used in most places today, which is completely closed loop. However, customers don't really want points that they can only spend in one place. The retailers would prefer the points system, but I as a customer know what I would prefer and that is something that can be used in other places.

Rewards can be given in a couple of different ways. First as a reward for a customer buying or performing an action and secondly as a way to reward customers for sharing deals, coupons etc with others via facebook, blogs other sites. A bit like google adsense, but payments only made on results.

TAG was created as a universal rewards system within Tagbond, but it could be used anywhere. We will be using it within Tagbond as our internal payments system. You could use any cryptocurrency, but obviously we favor TAG.

Alt coins make a good rewards system as it is not so dependent on the issuer, it can be bought/sold between other customers (unlike points), and can be traded for other cryptos for fun or profit. We will have a fairly stable price for merchants to buy and give out. As demand grows the price will grow steadily upwards, and without China involvement the price should not be so volatile for TAG or any other cryptos.

Hope that helps.

I am trying to understand the business model.  Say I am a business and wish to reward my frequent customers.  What do I do ?  I have to go onto the open market and purchase these reward points to restock my rewards bank?  This is where I am confused.  That doesn't seem like it would ever work.  What am I missing?   Sure it might be fun to receive altcoins as a reward, but I don't get how TAG is recycled in a reward system.  Wouldn't the relatively high volatility of an altcoin kinda screw this up for the business?  They would have to restructure their reward system every time the value changes.

Is my take on this coin wrong?  I like the idea.. a niche market, but how would it work? What am I missing?

thank you very much

@entropi - I sent an email to the main guy at BTER asking what is up, will let you know what he says, if he responds

better use tagmining.com

Happy Holidays Everyone!   

sounds interesting. could you please give me some coins for collecting? thx
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May you connect bter team for me please. Still problem with TAG withdrawals. Site says "TAG withdrawal is disabled". They do not respond to email support.

Even though I am not a fan of PPS pools and thus have never mined on 'techbytes' pool, tag.cryptopools.com, I would say that you can mine his pool with full confidence.

Apologies to techbytes for the oversight.

@vesperwillow - I am also disabling everything via the bios, and now I know it's not really a hardware thing, I will mess with the drivers and OS, learning as I go... most of the mining thing here for me is a hobby..:-)... I am at heart a geek, so nice to have something to play with that is new.. so now I have to go get me a ASRock 970-EX4...

@johndec2 - as far as I know, I cannot change the avatar, not since the hacking of bitcointalk a while back..unless you know a way?..

LMAO... you guys are too funny.  Thanks for the kind words though, Johndec and 24Kilo.



Sorry, techbytes... I always forget about tag.cryptopools.com.  Another great choice as it's the only(?) PPS pool for Tag.  I would say that Hashfaster, cryptopools.com and tagmining.com would be the top 3 to put in your config.  Your choice on order.


EDIT- registrations are open again.  I will be monitoring the hashrate, but things are business as usual.

I used tag.hashfaster.com and it was decent, and I tried tag.cryptopools.com and it was also about the same as hashfaster. I keep them in my config as backup pools. The admins of cryptopools seem fairly active and respond to you within a day or so.

Techbytes is a pretty cool person ;P