Topic: [ANN] Terracoin (TRC) - Est 2012 - page 72. (Read 408855 times)

We made our calculations and lowering the cost of masternodes to 5000 is the way to go.

In response to your assumptions:
1) Miners have been selling TRC on the market from the beginning (some mining pools automatically sell their TRC on the market and give their miners BTC.).  Before we decided to add DASH's masternode tech the price was slowly being driven down by miners because we couldn't get enough new investors to buy up the coins sold by miners.  There is nothing wrong with them selling their TRC immediately.  They want to make money just like everyone else.
2) Even if everyone sell all of their masternode rewards (which isn't going to happen.  I know I am going to hold mine and just pay the $20 out of pocket every month) immediately you aren't taking into account new people wanting to get in on TRC masternodes.  At the price of 5000 TRC it makes it more affordable and available for new people to join.  Right now a masternode is $400, and things haven't even gotten started yet.  Imagine if the price of TRC is $.20, or $1.00.

I don't know anything about XBy so I don't want to comment on what they are doing.

The lower price of the Mn will drive the price of TRC down at the beginning.
Make your calculations:
1) now there are miners that have already invested into equipment so they don't need to spend a lot of TRCs to cover their expenses and being TRC merge mining they are probably just holding.
2) after the Mn are implemented we all will need to sell a lot of TRCs to cover the expenses for VPS

So halving the price of the Mn will just drive the price even more down.

Maybe the best idea would be to create a high price Mns in the beginning and after some time release the second level masternodes for a lower price (like they do it for XBy).

Looks like it is good entry point right now.Just got couple nodes.

I fully support the 5k per masternode. I think that is as perfect of a number to set it at.

Almost 8 weeks away guys!

Are there really people here complaining about the mn cost decrease? I think it's great. Who doesn't want more affordable nodes. If you can't afford a vps for a few dollars a month you probably shouldn't be dabbling in crypto investments anyway and should look to find a better day job.

I also saw some people complaining that they already bought 10k trc. Great! Run 2 mns. Or sell your other 5k. I'll buy it.

Will these same people complaining about the cost decrease be complaining when they're trying to set one up and purchase coins with trc at $1+?

To the person who said the mn's should be pegged at a regular $ price. That would create one hell of a problem any time the price fluxes and I don't even think that it's possible to code such a thing.

Get 'em while they're cheap or regret it later.

my 2 cents.

-Dredd

We all make mistakes, its all good. Glad we could help.

No problem!  I didn't know it showed that until recently myself.

I apologize, I'm incorrect.  Did not realized that beneath the Order Book distribution was descending wallets.  Thanks everyone.  Long live TRC.  Thanks for the patience everyone.

If you scroll across the bottom of that screen (on the actual bottom line of the box) the totals will slowly go down and if you have some TRC you will eventually find your balance there.  Well, if you have over 8,444.  That looks like the lowest balance it will show.

0.00000003   2000266.66666667   0.06000800   11.43110637   
0.00000002   50000.00000000   0.00100000   11.43210637   
0.00000001   1000000.00000000   0.01000000   11.44210637

where is the 2 million at 0.00000003 then? Highest listed is about 1.4mil in the dist chart. You're reading it wrong.

Ok, ummmmm you're wrong.  Super wrong, and bordering on being purposefully misleading.  
The point in the chart you are referring to is actually the DEPTH of BUY orders for TRC.  NOT a seller's WALLET!  AT ALL.  It is a bid order for a million at 1 satoshi.  

PRICE                    QUANTITY            TOTAL (BTC)       Sum (BTC)
0.00000001   1000000.00000000   0.01000000   23.26865402

This could be a decent coin, but honesty and transparency are paramount, and I can't tell if you're just confused or being manipulative.

if trex will adding this more people will be attracted to invest from this project still undervalued and if ever someone likes to invest better to think
for longer holds this coins have a good future ahead an ongoing development from the dev will make this project turned to a big success after
everything got to its purpose.

You can see account totals (wallets) on Cryptopia.  Go to Depth/Dist. and hover your mouse over the blue line on the far left side.  It will then show you have much an account has on the site.  You can do something similar on C-Cex as well.

At the beginning he would place the order for about 30 seconds or so, but he changed his tactic.

I am not sure what you mean about capture the masternode angle.  We want the decentralized governance and have for a while.  You can read through this thread to find that out.

As for the leaders spending time "hyping the coin," I also am not sure what you mean.  I spend most of my time answering questions about Terracoin on Telegram and Slack.  Is that the hype you are talking about?

I was going to post an image, but it looks like sixoffive already did.  I hate how bitcointalk deals with images.

Log onto Telegram or Slack and I can post an image on there.

http://imgur.com/a/buR87

As you can see, the dist (the wallet underneath the depth chart) shows an account with just over 1.4 million. That used to be a larger amount.  If you want to believe its hype/excuse, thats up to you. Most of us know whats been happening the last couple weeks, and watch the market.

"Then the price started to drop hard and I checked the whales balance and it was slowly going down."

Thanks for the answer.  By the above you mean you saw the amount being sold decrease?  How are you able to check this balance? 

Also, isn't there a rich list?  Can't you figure out which address transferred 2M to crytopia to be sold?

I was typing this while you were posting:

I can explain how I am getting this data.

Someone pointed out that a new account had shown up on Cryptopia with a ton of coins.  I checked it out and it was over 2 million.  I don't remember the exact amount because I just kind of looked at it and thought, "Wow, that is a lot of coins."  Later that day someone said someone put 2 million coins on Cryptopia in a sell order but when I went to look it wasn't on the sell books.  So I checked the depth/disto and the two million was still there.  Still didn't bother to record the total.

Then the price started to drop hard and I checked the whales balance and it was slowly going down.  After a while we were down to 4000 sat and I decided to do a little detective work.  I took a screen shot of the whales balance and then watched the buy orders and checked the whales balance after each buy order was filled.  After a while the price never got above 4000 sat and from comparing buy orders to balance I was pretty sure that any buy order placed at 4000 sat or above was sold to from the whale.

To verify this (the price was at like 3500 sat), I put in a buy order and slowly inched it up every 20 minutes or so.  The whole while hoping that someone else wouldn't sell into my buy order.  After my buy order was at 4000 it took six and a half minutes before the whale sold into it.

I guess I forgot to mention I was timing the intervals between sells to see if there was an obvious pattern (like if he sold every 10 minutes or so), but that data was inconclusive.  Sometimes there was no buy orders at 4000 for long periods of time.  Etc.

The next day around 1:15 pm PST suddenly the price was pushed down to 3000 sat, and I did the whole thing all over again.  I didn't bother timing the intervals this time though.

Also during this data collecting period I found out that the whale does buy ≈1 TRC every once in a while.  I believe this is to try and trick people into thinking the market is on the rise so they will put in buy orders at 3000 sat or above.

No, you cannot see "wallets" on Cryptopia.  At best you can see particular orders.  I've looked at the depth charts and never seen this "whale".  

I am quickly losing faith in this coin...    It is amateurish to make up reasons/blame 1 entity for the price action.    

Perhaps you can provide screenshots of this huge order?  It certainly doesn't exist whenever I've looked.  If someone can't post proof, than I have to think this is a hype/excuse coin trying only to capture the "masternode" angle with leaders who are spending most of their time hyping the coin and making up fantasy stories about "whales".

want bounty program 2th. TRC will increase and become more and more popular.

I think that in the long run Terracoin will prosper. A Bittrex listing in the future would help as well I think. Still so many people unaware of this coin and the team behind it.

Like clockuniverse said, you can see the wallets on depth/dist on cryptopia. We saw them put up a large sell wall, so we know how much they originally had, and that they are selling down and what the current value of that wallet is. Do we have an exact address? nope, its on the exchange. But all the proof is there if you have time to stare at the charts.