Topic: [ANN] ZenithCoin (ZTC) Market Making Sustainable Crypto Currency - page 18. (Read 35770 times)
I asked on btce but I will ask again can you have a mining pool ready for release and give me the gmt time for starting thanks
Launch Date June 1, 2013
Whats with the super-vague launch 'time'. 'Sometime June 1st is a 24 hour window, not accounting for time zones etc'.
Worth Noting: Nothing is stopping developers from taking the ENTIRE 50% of the 'fund' and treating it just like a premine scam, selling the entire stock at market price, keeping the BTC/LTC for themselves and killing off the coin for a profit.
This guy is the biggest hypocrite ever. He bashed Feathercoin for being a clone etc when it first came out to the point he was almost crying (btce trollbox and on cryptonit). Then it went to the moon and he raged like a little baby non-stop... Now suddenly he wants to release a clone coin and keep half the coins to himself 
WE are the 50%! Huzzah! Screwed us over before the coin even launched! Fantastic! Original! Newage!
launch in 5... 4... 3... 2... 1...
It seems to me 'market making' will be the primary activity, other than development projects, for the 50% of coins. Yet, I see no finance team to complement the dev team. You show no credentials or resume, hide behind an avatar like 99.9% of other users on this forum, and somehow we're supposed to be comfortable with the idea your skills as an arbitrageur and capital/finance manager will provide positive ROI for 50% of mined coins? How in the world is this different than banks using deposits so poorly that once the market turns against them (eg. mortgage market) even slightly, they will need a bail out? Congrats, you have invented the open source version of this financial nonsense. Except there is no central governing entity to bail out zenith coin. It will just fail, leaving a wasteful carbon footprint and nothing more. This is laughable. And all transparency will do is allow us to better see you risk assets and, consequently, DESTROY future development projects. Your 'market making' activities will have the exact opposite effect of creating incentive for the devs. I repeat, this is laughable.
Let's speak about arbitrage here for a second. Current crypto markets are extremely inefficient, so any basic level of automation can easily profit out of this inefficiency.Yes, lets speak about arbitrage. Being a former fund manager for over ten years, when you simplify the dynamics of market trading, be it arbitrage or whatever, as a 'basic level of automation,' then I become wary of your business model. It shows your inexperience, and quite frankly, immaturity and lack of discipline. Show me your proposed scheme. Is it strictly lateral arbitrage? That is, will you exchange zenith coins into BTC then transfer coins to mtgox and sell the BTC into USD? And then what happens if BTC runs? You've basically crippled your returns. And what if you need to purchase BTC and you've purchased at the top of said run and BTC falls?
And again, what are your credentials to even propose that there's a 'basic level of automation' which can enable arbitrage opportunities? Who's the trading team? Or are the devs, who are supposed to be working on projects, going to have to spend their time doing something outside their level of expertise? I can go on and on...
It is clear the model for your coin is ill-advised.
As you say, there are clearly some level of risk with regards to arbitradge and a potential to take on loses. Not every strategy may work long term.
Howwever, this model is much better than any of the other coins that are out there. What value do they provide other than serve as an indirect way to mine BTC or LTC?
This is the third time you've ignored my inquiries into your credentials as a capital manager and the details of who the trading/finance team is. It is clear there is no trading team. And it is safe to assume your resume lacks any experience in capital management. A coin is only as good as its devs and their requisite skills. So to answer your question as to what value do other altcoins provide, apparently the same value of zenith coin. As of right now you're just a seven character string asking everyone to assume your the Warren Buffet of the cryptocoin world. But I thank you for the chuckle...
Your model fails, because "retaining" 50% coins for "investemen", stakers of this coin will be ... the half of rich than another coin without this "innovative" "50% coins retained artifact". Btw, nice try 
.
. It seems to me 'market making' will be the primary activity, other than development projects, for the 50% of coins. Yet, I see no finance team to complement the dev team. You show no credentials or resume, hide behind an avatar like 99.9% of other users on this forum, and somehow we're supposed to be comfortable with the idea your skills as an arbitrageur and capital/finance manager will provide positive ROI for 50% of mined coins? How in the world is this different than banks using deposits so poorly that once the market turns against them (eg. mortgage market) even slightly, they will need a bail out? Congrats, you have invented the open source version of this financial nonsense. Except there is no central governing entity to bail out zenith coin. It will just fail, leaving a wasteful carbon footprint and nothing more. This is laughable. And all transparency will do is allow us to better see you risk assets and, consequently, DESTROY future development projects. Your 'market making' activities will have the exact opposite effect of creating incentive for the devs. I repeat, this is laughable.
Let's speak about arbitrage here for a second. Current crypto markets are extremely inefficient, so any basic level of automation can easily profit out of this inefficiency.Yes, lets speak about arbitrage. Being a former fund manager for over ten years, when you simplify the dynamics of market trading, be it arbitrage or whatever, as a 'basic level of automation,' then I become wary of your business model. It shows your inexperience, and quite frankly, immaturity and lack of discipline. Show me your proposed scheme. Is it strictly lateral arbitrage? That is, will you exchange zenith coins into BTC then transfer coins to mtgox and sell the BTC into USD? And then what happens if BTC runs? You've basically crippled your returns. And what if you need to purchase BTC and you've purchased at the top of said run and BTC falls?
And again, what are your credentials to even propose that there's a 'basic level of automation' which can enable arbitrage opportunities? Who's the trading team? Or are the devs, who are supposed to be working on projects, going to have to spend their time doing something outside their level of expertise? I can go on and on...
It is clear the model for your coin is ill-advised.
As you say, there are clearly some level of risk with regards to arbitradge and a potential to take on loses. Not every strategy may work long term.
Howwever, this model is much better than any of the other coins that are out there. What value do they provide other than serve as an indirect way to mine BTC or LTC?
It is clear the model for your coin is ill-advised.
Not if the objective is to hold 50% of all mined coins...
Without an instrument for the investors (miners) to steer the funds to goals its pretty much broken from the getgo.
The fund could be very transparent about buying blow and hookers from the coins and there is nothing the investors could do except walk away and take their losses.
A this time there is no mechanism for investors to steer where the funds go.
The first goal however is to provide transparency as to where the funds are going via the block chain and enhancements to the block chain explorer.
So, instead of a premine, he just takes %50 of the miner's coins 
You can look it another way, half of all newly minted coins go to the miners, the other half go to coin development.
Or 50% go to operations, 50% go to development.
Miners enable the coin to operate on a daily basis.
Development creates new value for the coin over time.
It is clear the model for your coin is ill-advised.
Not if the objective is to hold 50% of all mined coins...
Without an instrument for the investors (miners) to steer the funds to goals its pretty much broken from the getgo.
The fund could be very transparent about buying blow and hookers from the coins and there is nothing the investors could do except walk away and take their losses.
It seems to me 'market making' will be the primary activity, other than development projects, for the 50% of coins. Yet, I see no finance team to complement the dev team. You show no credentials or resume, hide behind an avatar like 99.9% of other users on this forum, and somehow we're supposed to be comfortable with the idea your skills as an arbitrageur and capital/finance manager will provide positive ROI for 50% of mined coins? How in the world is this different than banks using deposits so poorly that once the market turns against them (eg. mortgage market) even slightly, they will need a bail out? Congrats, you have invented the open source version of this financial nonsense. Except there is no central governing entity to bail out zenith coin. It will just fail, leaving a wasteful carbon footprint and nothing more. This is laughable. And all transparency will do is allow us to better see you risk assets and, consequently, DESTROY future development projects. Your 'market making' activities will have the exact opposite effect of creating incentive for the devs. I repeat, this is laughable.
Let's speak about arbitrage here for a second. Current crypto markets are extremely inefficient, so any basic level of automation can easily profit out of this inefficiency.Yes, lets speak about arbitrage. Being a former fund manager for over ten years, when you simplify the dynamics of market trading, be it arbitrage or whatever, as a 'basic level of automation,' then I become wary of your business model. It shows your inexperience, and quite frankly, immaturity and lack of discipline. Show me your proposed scheme. Is it strictly lateral arbitrage? That is, will you exchange zenith coins into BTC then transfer coins to mtgox and sell the BTC into USD? And then what happens if BTC runs? You've basically crippled your returns. And what if you need to purchase BTC and you've purchased at the top of said run and BTC falls?
And again, what are your credentials to even propose that there's a 'basic level of automation' which can enable arbitrage opportunities? Who's the trading team? Or are the devs, who are supposed to be working on projects, going to have to spend their time doing something outside their level of expertise? I can go on and on...
It is clear the model for your coin is ill-advised.
Launch Date June 1, 2013
Important question:
Who will hold the trust coins?
difficulty changes every 4096 blocks...hmm i dont see it lasting long after the initial hype
Adjusted to every 9 blocks.
So, instead of a premine, he just takes %50 of the miner's coins
Look at that, something with a chance to be valuable.
I think if you at this as an experimental test best for all kinds of new bitcoin mechanisms, then the coin itself becomes valuable in that it validates new innovations.
It seems to me 'market making' will be the primary activity, other than development projects, for the 50% of coins. Yet, I see no finance team to complement the dev team. You show no credentials or resume, hide behind an avatar like 99.9% of other users on this forum, and somehow we're supposed to be comfortable with the idea your skills as an arbitrageur and capital/finance manager will provide positive ROI for 50% of mined coins? How in the world is this different than banks using deposits so poorly that once the market turns against them (eg. mortgage market) even slightly, they will need a bail out? Congrats, you have invented the open source version of this financial nonsense. Except there is no central governing entity to bail out zenith coin. It will just fail, leaving a wasteful carbon footprint and nothing more. This is laughable. And all transparency will do is allow us to better see you risk assets and, consequently, DESTROY future development projects. Your 'market making' activities will have the exact opposite effect of creating incentive for the devs. I repeat, this is laughable.
Market Making at the most simplest form is to to use the fund to acquire reserve deflationary currencies to back the coin. Just like any central bank backs its currency by holding reserves in a basket of other currencies.
Let's speak about arbitrage here for a second. Current crypto markets are extremely inefficient, so any basic level of automation can easily profit out of this inefficiency.
Look at that, something with a chance to be valuable.
It seems to me 'market making' will be the primary activity, other than development projects, for the 50% of coins. Yet, I see no finance team to complement the dev team. You show no credentials or resume, hide behind an avatar like 99.9% of other users on this forum, and somehow we're supposed to be comfortable with the idea your skills as an arbitrageur and capital/finance manager will provide positive ROI for 50% of mined coins? How in the world is this different than banks using deposits so poorly that once the market turns against them (eg. mortgage market) even slightly, they will need a bail out? Congrats, you have invented the open source version of this financial nonsense. Except there is no central governing entity to bail out zenith coin. It will just fail, leaving a wasteful carbon footprint and nothing more. This is laughable. And all transparency will do is allow us to better see you risk assets and, consequently, DESTROY future development projects. Your 'market making' activities will have the exact opposite effect of creating incentive for the devs. I repeat, this is laughable.
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