Topic: [ANN] VGC - VegasCoin - page 12. (Read 74438 times)

You never know with VegasCoin, when the coin looks like it has taken its final breath it always seems to resurrect.

It will be interesting to see how things pan out with this latest spark in the coin and mining.

Its hard to say what is going on, could be manipulation, a takeover with possible coin swap or someone being foolish.

I was wondering the same thing as price has jumped. Today was in the top 5 at Cryptopia.
Seems someone is buying a lot for reasons unknown. I just checked the thread to see if
someone knew why the sudden interest. Someone has some kind of plan for this coin.
Scooping up as much as they can, before letting cat out of the bag. Maybe should fire up
my wallet again? Someone is up to something, just hope it is good! Will have to keep my eye on this!

Peace, Dennis

70.173.208.196:52400
81.4.111.126:52400
98.115.147.74:57257

Need some addnodes to get the wallet working again.

        I noticed that and a four bitcoin volume that is really insane for this coin. I am not sure what is going on but a 33166.70 % jump is worth keeping an eye on. I have also noticed that the hash rate and difficulty have gone up quite a bit recently along with interest. I have heard nothing of any recent interest in a takeover or anything else that could warrant such a surge in price.

Price surging. Explenation?

http://Vegascoin.vegas/ now exists. Nobody seems to notice or even care. That is perfectly fine, for now. It was effortless to climb up into the top ten in the Google search results. There is no plan to put any more than minimal effort into it between now and when we see Bitcoin crash to less than $50 USD.

It will be a listing for rare American coins. Prices are in VGC at a fixed exchange rate to the face value of the coin. There is a cute play on words, offering "Cold, hard cash" for vegascoin, but the exchange rate is ridiculous in terms of USD and the coins can be considered to be cold, hard cash because they are currency made from metal.

It is reasonable to believe this model will keep out of the parameters of what can be considered to be any form of money laundering. The goal is to simply exist until the domain has any value. This is not expected to happen for years, if ever.

Vegascoin.vegas will create the market condition that it is cheaper to use USD to buy VGC and then use VGC to buy silver than it is cheap to use USD for buying the silver directly. This has a benefit for the seller because selling silver for VGC is cheaper than buying bitcoins and driving the price up when using the bitcoins to get VGC.

A recovery in the VGC price will make it irrational to pay the VGC price and that is when gold coins can be added to the site at the same exchange rate. This domain will be used as a market that only makes sense when VGC is tanked in price.

It would be nice if someday this domain can be sold for the new version of the vegascoin if the old coins are replaced by another genesis block. It would also be great to find a way if any possible profits could be used to help finance http://subzeromission.org/. If this becomes a real business, then it is hoped SubZeroMission can be gifted 7.77% ownership.

I just find it amusing that people are still throwing hash power at this coin.


I think it will eventually die, but you never know strange things happen in the crypto world.

Thanks!  

The difficulty is way up

I am always surprised by the way this coin seems to never die

It def is on life support at this point though

1) I dont wont to sell my coins.
2) Great for you
3) Move to another coin if you want to make a swap

In the first 24 hours, we swapped 43% of the entire supply of Sapience AIFX.

We also swapped almost 30% of all Fractalcoins and Keycoins.

At the same time, we raised and supported the price of all 3 coins across 5 markets, allowing people to sell their coins if they weren't interested in swapping.

We have already burned about $18,000 worth of altcoins.

RULE #1: SWAPs always fail!!

lol, I saw you quoted thefix but I missed the fact that you are thefix.  Didn't mean to refer to you in third person.

No need to thank me for the quick response - after launch, an altcoin dev's #1 job is posting on bitcointalk.  I'm sure people spend a little time coding wallets and stuff, but what else is there?  If they can't even post frequent encouragement on their own thread, what CAN they do?

My coin is on the NXT platform, so I don't have to do any coding.  But I do have a lot of work to do before launch, and most of it is just clicking and typing on the internet.  I've been working on BARR a few hours every day, reviewing each coin at CoinMarketCap.com to see which ones could be eligible for BARR redemption.  Hundreds and hundreds of coins, and probably half of them don't even have a block explorer. 

The more coins I look at, the worse it gets.  People have no idea how soon most of these coins will completely stop functioning.  There are coins - still being traded on exchanges - that haven't had a post in their ANN for over a year.  If there's not one person in the world who will take 30 seconds once a year to type a few words about a coin, who do you think will run a node for it 24 hours a day?

But if a coin dies, then at least it's not draining resources from the market.  The bigger problem is coins that do have 5 people who care enough to run nodes - if a coin has even 2 bagholders who refuse to give up, the coin might never go away.  They have no way out, and there's not enough BTC on offer even if they wanted to dump it all.  But there's enough BARR.  If we can give them a way out, they'll be back in the game. 

We had the same idea that thefix was talking about - start a new coin, burn the old coins, and give everybody the coins on the new blockchain to replace the coins they burned.  Pretty much a standard swapover.  We were going to do it for Fractalcoin, to try and save it before it completely dies.  He mentioned building it on Ethereum, we were going to do it on NXT.

But if we did, then what?  We take a dying coin, transfer it to a new blockchain, and now it runs better.  But what's the point?  If nobody was interested in it before, they probably still won't care.   

thefix talked about reducing the supply 5000 to 1.  If there are less coins, each one is rarer and potentially more valuable.  That's a good idea, but there's a bigger problem:  you can reduce the supply of VegasCoins by 1/5000, but you can't reduce the overall supply of Altcoins.  You still have 1 VegasCoin and over 1000 other altcoins, so it's still not rare and doesn't have as much potential to be valuable. 

There's a limited amount of Bitcoin being spent on altcoin exchanges, and it's spread too thin.  50 people buying Vegascoin, 5 people buying Fractalcoin, 1 guy still buying URO.  500 people buying the latest hyped-up coin, and next week 200 of them will be buying something else while the rest lost all their money and are stuck holding last week's bag.

That's 300 people who could have been buying VegasCoin, but they won't be buying anything until they can get rid of what they already bought.  But with 300 people selling and only 20 people buying, they're out of luck.  Either they continue holding and are never able to re-invest any of that money, or they sell for a loss and have less to spend.  And whoever they sell it to probably won't ever get their money back either.  So each pump-and-dump removes investors from the crypto markets, and we can hardly afford to lose them. 

Each bad coin takes money away from our coins, and we all lose. 

The problem is too many altcoins diluting the market.  So instead of starting Fractalcoin 2.0, burning the old coins and redeeming them for new coins, we decided to do it for multiple coins.  BARR:  Burning Altcoins for Redemption and Reduction.  We're going to get rid of Fractalcoin, Keycoin, and Sapience, and redeem them for BARR.  The swap goes for 1 month, and then we'll do other coins.  If we burn enough, we've subtracted all those coins from the market, bringing their 10 or 20 users and adding them all together into BARR. 

Every time we burn enough of an altcoin's supply to completely remove it from the market, all remaining altcoins become rarer and potentially more valuable.  If we don't burn enough of a coin to completely remove it from the market, it continues with a lower supply and probably a higher price.  Either way, the holders benefit and the market benefits.  And the coins we burn can never be pumped-and-dumped again. 

Since we're starting with the coins we already have bags of, we know we'll be able to significantly reduce the supply of those coins.  Hopefully once people see us clearing out coins, they'll want to burn their own coins too.  Every coin we absorb makes BARR bigger and thins out the market at the same time. 

Check it out at barr.me, or our ANN at bitcointalk.org/index.php?topic=1219460.0
 

Sounds interesting

What is BARR?

Well there you go!  Hopefully Cryptopia will continue to add features to their explorer, like current coin supply.

There is a Vegascoin block explorer here: https://www.cryptopia.co.nz/BlockExplorer?coin=VGC

Would could offer a swap for BARR, if there was a working VegasCoin block explorer.