Hi, Electron Dev.
How are you?
Spirit for you. Go the moon!!
I hope Electron can return the coin to the top market position in Bittrex.
Also I hope you can apply your coin on Poloniex.
Good Luck !! Good job!!
Thank you
Topic: [ANN][ELT] Electron, Blake-256 coin, merged mined - page 7. (Read 56519 times)
Pls apply Electron to list add Poloniex 
Thanks
Thanks
Quote
Are you trolling me?
It looks like you are trolling me. The statement of market values for different numbers of coins completely misses my point. Also at no point did you state the number of coins explicitly. You just calculated the valuations based on a theoretical value of 10K sats (which may have required those values but I wasn't going to go through your calculations to check).
All your post was saying in essence was - here is a list of theoretical calculations of value - and they seem OK. I did not realise that your definition of acceptable numbers of coins and mine are quite different.
I don't think 30 million coins in 5 years is a small number or indeed slow growth.
If the number of coins/production is an issue for me you can be pretty certain it will be an issue for others.
Thanks for the math guys. The max number was unchanged from blakecoin. I personally would be happy to live another 50 years, and would be delighted if Electron is still relevant, in its current form, in another 20 years. I completely agree that the max value has psychological value but feels that it is almost irrelevant. I think the math that matters, as has been correctly pointed out, is the number of coins actually minted. I believe value is going to fluctuate since there are lots of coins being produced right now relative to available supply. This will certainly slow down. Electron was only released on 5/25. Hmm, 22 days old, if my math is correct 
I personally have a preset price in my head as well. I have no problem with the math being the way it is. I think it rewards the careful investor who actually did the math. Wouldn't you agree?
I personally have a preset price in my head as well. I have no problem with the math being the way it is. I think it rewards the careful investor who actually did the math. Wouldn't you agree? 
What is the problem on my system ?
Quote
~/Electron-ELT/src# make -f makefile.unix USE_UPNP=1 USE_QRCODE=1 USE_IPV6=1
Building LevelDB ...
/bin/sh: 1: ./build_detect_platform: Permission denied
make[1]: Entering directory `/root/Electron-ELT/src/leveldb'
Makefile:18: build_config.mk: No such file or directory
make[1]: *** No rule to make target `build_config.mk'. Stop.
make[1]: Leaving directory `/root/Electron-ELT/src/leveldb'
make: *** [leveldb/libleveldb.a] Error 2
Building LevelDB ...
/bin/sh: 1: ./build_detect_platform: Permission denied
make[1]: Entering directory `/root/Electron-ELT/src/leveldb'
Makefile:18: build_config.mk: No such file or directory
make[1]: *** No rule to make target `build_config.mk'. Stop.
make[1]: Leaving directory `/root/Electron-ELT/src/leveldb'
make: *** [leveldb/libleveldb.a] Error 2
chmod +x leveldb/build_detect_platform
before you build
Just for kicks let's put the price at 10,000 sats.
Year 1 Market Cap @ 10,000 sats = 70 BTC + 2.88 BTC/Day = 1051.2 BTC = $630,720
Do you think this is sustainable?
Market Cap at 1 Year
0.00010000 BTC/ELT = $630,720
0.00100000 BTC/ELT = $6,307,200
0.00500000 BTC/ELT = $31,536,000
I think it is.
- 1 BTC = 10,000 ELT
- 700,000 ELT = 70 BTC = $42,000
- 28,800 ELT/Day = 2.88 BTC/Day During 1st Year
- 14,400 ELT/Day = 1.44 BTC/Day After 1st Year
Year 1 Market Cap @ 10,000 sats = 70 BTC + 2.88 BTC/Day = 1051.2 BTC = $630,720
Do you think this is sustainable?
Market Cap at 1 Year
0.00010000 BTC/ELT = $630,720
0.00100000 BTC/ELT = $6,307,200
0.00500000 BTC/ELT = $31,536,000
I think it is.
If only it worked that way but the absolute numbers do have a psychological impact. Doge is a good example of how large amounts of coins reduce perceived value in people's minds. A more extreme example would be XXL coin.
a) 7 Billion, not 8 Billion.
b) Why do you care how many coins there will be in 1331 years when the coin will likely no longer exist (and neither will Bitcoin)?
c) The block reward is what matters. That's the rate of supply growth. 28,800/Day is a very small growth rate in comparison to the vast majority of cryptos.
It would be incredibly cheap to buy every coin in existence right now. I personally have a minimum value stored in my head, which I won't share, and if the price hits that level I will buy until there's nothing left to buy. The math says this coin is already a steal. The only reason I'm not buying right now is because I have the market share I want and because there's still a chance I can get them cheaper. People look at the max coins and don't see the whole picture. Max coins in a thousand plus years is MEANINGLESS.
That said, I do plan to bug our good dev here about the issue. Since max coins is so meaningless I see no reason to have it set there. Besides... how do you even have a "max coins" if it's proof of work? You can't.
It's the block reward that matters.
b) Why do you care how many coins there will be in 1331 years when the coin will likely no longer exist (and neither will Bitcoin)?
c) The block reward is what matters. That's the rate of supply growth. 28,800/Day is a very small growth rate in comparison to the vast majority of cryptos.
It would be incredibly cheap to buy every coin in existence right now. I personally have a minimum value stored in my head, which I won't share, and if the price hits that level I will buy until there's nothing left to buy. The math says this coin is already a steal. The only reason I'm not buying right now is because I have the market share I want and because there's still a chance I can get them cheaper. People look at the max coins and don't see the whole picture. Max coins in a thousand plus years is MEANINGLESS.
That said, I do plan to bug our good dev here about the issue. Since max coins is so meaningless I see no reason to have it set there. Besides... how do you even have a "max coins" if it's proof of work? You can't.
It's the block reward that matters.
I'm sorry but I fully intend to be here in 1000 years +
Actually the problem is the coins aren't produced as slowly as you think it's roughly 10 million in the first year and then 5 million every year after that. So after 5 years there will be 30 million. Also the 7 billion (not 8 my mistake) is more a psychological issue.
What is the problem on my system ?
Quote
~/Electron-ELT/src# make -f makefile.unix USE_UPNP=1 USE_QRCODE=1 USE_IPV6=1
Building LevelDB ...
/bin/sh: 1: ./build_detect_platform: Permission denied
make[1]: Entering directory `/root/Electron-ELT/src/leveldb'
Makefile:18: build_config.mk: No such file or directory
make[1]: *** No rule to make target `build_config.mk'. Stop.
make[1]: Leaving directory `/root/Electron-ELT/src/leveldb'
make: *** [leveldb/libleveldb.a] Error 2
Building LevelDB ...
/bin/sh: 1: ./build_detect_platform: Permission denied
make[1]: Entering directory `/root/Electron-ELT/src/leveldb'
Makefile:18: build_config.mk: No such file or directory
make[1]: *** No rule to make target `build_config.mk'. Stop.
make[1]: Leaving directory `/root/Electron-ELT/src/leveldb'
make: *** [leveldb/libleveldb.a] Error 2
This is why I support premines. But this one doesn't have one, so it's up to investors who seem to hate premines. Sometimes you get what you ask for! Boo! I mean, Yay!
Dev: Could you explain your reasoning behind the large MAXCOINS value? I understand you probably want the coin to grow with use far into the future, but technology will change enough over the next 1300 years that I see this max value as detrimental to the perceived value of the coin. You would instantly create more interest if you were to bring the max more in line with the block reward.
Just my opinion, but perhaps you have a reason I haven't thought of.
Dev: Could you explain your reasoning behind the large MAXCOINS value? I understand you probably want the coin to grow with use far into the future, but technology will change enough over the next 1300 years that I see this max value as detrimental to the perceived value of the coin. You would instantly create more interest if you were to bring the max more in line with the block reward.
Just my opinion, but perhaps you have a reason I haven't thought of.
Also there will be 10 million coins in the first year, then 5 million per year after that until we get to 8 billion. I just think that is flooding the market with too many. Psychologically it will put people off investing particularly if you consider that there are less than a million at the moment.
@CrowdWhale, thanks for posting a reply and some of the information behind electron.
I can certainly see why people would be concerned about the price drop. The price is determined by market forces and there are lots of market forces in play. I will continue to focus on expanding adoption and utility of electron. In terms of marketing, there is an ongoing giveaway on cryptocointalk.com. Also, a couple of people have agreed to help promote the coin for donations. Unfortunately, there was no premine (as is with all merged mined blake coins (so the speed of development will have to go as resources are avaliable. If you can help, please consider donating to the development fund. The address is in the op.
I can certainly see why people would be concerned about the price drop. The price is determined by market forces and there are lots of market forces in play. I will continue to focus on expanding adoption and utility of electron. In terms of marketing, there is an ongoing giveaway on cryptocointalk.com. Also, a couple of people have agreed to help promote the coin for donations. Unfortunately, there was no premine (as is with all merged mined blake coins (so the speed of development will have to go as resources are avaliable. If you can help, please consider donating to the development fund. The address is in the op.
Yes it's not worth it if the developer is clueless about PR and/ moving the coin forwards. There are 101 coins that have that and more - yet they are still floundering.
You need someone doing just PR for the coin - to keep it in people's consciousness via social media etc. - absolutely vital given the pace of altcoins where even an hour is a long time and silence is taken as a bad sign.
I absolutely agree. I understand if you can't be 24/7 online but you need someone to keep this thread active and keep the community informed of what is going on.
Dev are you working on anything special? I can't see what caused this price drop though?
There are too many other alts, there is also the massive coin total and the fact that the coin doesn't have any significant social media presence/PR or any obvious plan for increasing it's value. In alts things move quickly and coins also get forgotten quickly. If a coin is silent or has too low a profile it gets left behind and doesn't last long.
What caused that spike in price then?
God:)
Dev are you working on anything special? I can't see what caused this price drop though?
There are too many other alts, there is also the massive coin total and the fact that the coin doesn't have any significant social media presence/PR or any obvious plan for increasing it's value. In alts things move quickly and coins also get forgotten quickly. If a coin is silent or has too low a profile it gets left behind and doesn't last long.
What caused that spike in price then?
Dev are you working on anything special? I can't see what caused this price drop though?
There are too many other alts, there is also the massive coin total and the fact that the coin doesn't have any significant social media presence/PR or any obvious plan for increasing it's value. In alts things move quickly and coins also get forgotten quickly. If a coin is silent or has too low a profile it gets left behind and doesn't last long.
You need someone doing just PR for the coin - to keep it in people's consciousness via social media etc. - absolutely vital given the pace of altcoins where even an hour is a long time and silence is taken as a bad sign.
Dev are you working on anything special? I can't see what caused this price drop though?
I think having a maximum coin supply of 8 billion is a mistake. I think ELT should transition to POS after 500,000 blocks (roughly one year) that should ensure that it doesn't end up worthless.
I am doing a nice blog post and Hubby is translating into Chinese.. I will pm you soon..Great coin! Thanks for the lovely giveaways...
Thanks for the lovely giveaways...You're welcome. Thanks for helping out.
..I see volume on Bittrex is growing and I am trolling it on POLO too..It's a gifted coin not to be dumped but held..
https://bitcointalk.org/index.php?topic=653961.new#new - translation
http://bitbillions.net/2014/06/16/alt-currencies-elctron-coin-review/ - blog review
enjoy..
Thanks for the translation and the nice blog post! A nice donation coming your way
. I am always looking for more help so please send your Greek friend my way.
What caused this price drop?
Jump to: