Topic: [ANN][JPC]MAKE JACKPOTCOIN GREAT AGAIN! - page 98. (Read 470275 times)

ZS bought vote again. How long we got left? mintpal said monday evening UTC but doesnt say time.

They are 250 votes ahead and only a short while to go.... vote

Same here, my first vote ever.

I just voted, JPC now 1 vote ahead. 

30 votes ahead now..........

VOTE.........

Zimsteak just bought votes... they were 2 votes ahead, until I voted.  Now they are 1 vote ahead.

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I didn't read all of what you said to be honest but when i made my comment i figured the numbers would be bad
but i think you took the time to look at the math more closely than i did..
i always figured you could make up the loss on tx fee's by just increasing it a bit on larger tx's

This is not an attack on Allcrypt though eh guy.. ALL exchanges do this flat fee stuff
and i don't see the numbers as dramatic and screwed as your trying to portray.
and hey i could mention all kinds of interesting points such as when i look up TX's of BTC at Cryptsy take a guess what i see ?
i see SHIT LOADS of transfers bundled together and sent on one transfer and the 0.0001 min fee paid but tit costs us each 0.0005
so it would seem to me there is one heeeeeeeeeeeeeeeeeel of a huge profit margin for TX fee's
that exchanges do NOT want to part with.

BTC being useless for moving small amounts around makes the currency kind of useless..
and in other financial areas in life we don't get hit like that..
you rattled off examples and all those items are taxed around the globe on a percentage base now aren't they ?
like pretty much anything in life really..

The concept is designed to encourage more smaller transfers i think too so hopefully that would create more business that other wise would not exist
and i can safely say myself i have millions of times wanted to move some coin around but left it sitting there doing nothing
simply to avoid getting fucked in the ass on another trade fee and another tx fee..
it's market stimulation i figure.. it would create far more trade fee's and yes more tx's fee's.
10 tx's at 0.0001
75 tx's at 0.00005
which is worth more ?
bundle em up .. take the profit your inevitably going to get and don't bitch about it.. flat or percentage fee wise lol

bottom line.. it could be made to work.. if someone so chose to do so
and it's real simple coins sitting there doing nothing do not generate an exchange money
and i stress yet again i have avoided doing trades or sending coins to avoid fee's so much it's mind blowing.
and i have brought this up lots in the last year and i have until 5 minutes ago never seen 1 guy disagree with me..
they all said yes yes yes .. me too !

Do i want an exchange to take a loss on fee's ? of course not i never said that
but is it really impossible ?

I suggested Allcrypt for this idea as a market stimulation idea and a way to step away from the pack..
which point being is hopefully this would create far more business than your getting already.
you can't bitch about hypothetical losses from clients that don't exist lol

what would be cool is a User Account option for a choice maybe ?
I know 90% of the time i just move small amounts of BTC around.
And i mean come on when the flat fee is  0.0005 and you want to move 0.002 you wanna pay that fee ?
I got nailed hard trying to avoid this problem yet again by buying around 20 bucks worth of Doge coin
as soon as i did it tanked in value and just keeps getting worse..
I did this only to avoid a big BTC TX fee.
I also have never seen even one guy disagree with me on that your the first..

It simply doesn't make any sense to me paying a flat fee.
and i also would not care if i was paying slightly more on bigger tx's etc vs my small ones.

Monday evening UTC.  So at least 16 hours from now.... keep voting.  I have placed over 120 votes myself

when mintpal ? 3 hrs from now ?

Very cool! Thank you.

Thats an extremely good point. If the value of your coin is based off of what exchange its on - then your coin has problems.

An exchange can bring exposure - but a coin should have value regardless.

No apologizes needed Allcrypt!, and to be honest i still like the idea!

Ppl who are dumb enough to pay 1 btc for "1000"votes on mintpay are the suckers. Who is still paying are the ones that created it together with the copycats and keeping this corrupted system of now alive even today!
When u where still using that voting page, u said on the top of the page: vote as many times as u like, and send a donation of XXXX amount of coins that u like to.

So in other words,

U didnt EVEN ASK for BTC!, u didnt said this amount XX of that coin is worth XX of votes. it was the choice of the voter how many he wanted pay or he wanted to support his favorite alt to be on an exchange

AND THAT PPL MAKES A BIG DIFFERENCE OF TODAYS VOTING SYSTEM!!!

Edit:

I just think, just stop complaining*BITCHING* about a fucking fee, (a fee thats helps, so u dont have to wait 5 fucking hours and start complaining again!) and start using that great exchange.
PPL need to stop voting, u can also send a donation to me, in the end its the same results, u filling someone elses wallet, NOTHING MORE!

Also when JPC was released here i was against the Voting For Mintpal thingy, and why? that is what i mentioned above.
Ofcouse, the price of jpc rose and i made money from it sure i did, but i really still think what i said back then

IF THEY SEE THEY CAN MAKE (OR LOSE) MONEY FROM IT, THEY WILL ADD IT ANYWAY WITH OR WITHOUT YOUR TEN THOUSANDS DOLLAR VOTES!!!!

also, it SHOULD NOT BE THE WAY TO RAISE THE VALUE OF A COIN TO BEGIN WITH!

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http://2.bp.blogspot.com/-gjFIcaXGeZI/U5UgPvs72UI/AAAAAAAAAjA/XEnimWLkuDI/s1600/JackpotCoin-qt+on+RaspberryPi.png

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why u didnt add Siamese Coin?

sorry for offtop but you guys know i suport JPC since start so i hoep no offence.

We did. We started it. And for that, I personally apologize. It was MY idea. I thought it was an awesome idea. Until everyone else grabbed onto it and turned it into a profitfest.

We thought voting was the most fair way to do it. And we realized that not every coin had a community. Some coins had financial backing. So we offered a way for everyone to make a difference. Vote with your people power, or vote with your wallet.

Our entire voting phase took in just over 17 BTC, 20% we pledged to donate to charity (It went to Seans Outpost, 3.59 BTC). The rest went to help cover startup costs.

Then everyone saw our awesome idea and jumped on it, copying it exactly.

And once people had 20 places to vote, we realized that voting was no longer a bleeding edge idea. Not one to kick a dead horse we dropped it without further ado.

And once we saw what the payment part had become - a game on the part of exchanges to profit off NOT adding a coin, we were glad we dropped it.

We are about transparency and integrity. Not screwing with you guys. Not holding out a carrot until you throw enough BTC at it (or stop throwing the BTC so that the carrot is less profitable).

So, for birthing that demon of a system, I apologize. It became a bastardized version of what I intended it to be, and I'm glad we got off that train.

We strive to add any coin that requests it. We've invested thousands of dollars into wallet servers to host all the coins we have. Once a coin seems dead we remove it. Obviously not all will survive. But we'd like to have any coin that at least has a pulse to have a home somewhere.

Ok so then explain this situation to me, and I would really like to know how you handle it.

User withdraws a small fraction of a BTC... say it's .0003 BTC. We charge a percentage - lets say that percentage is .1%

So his withdrawal fee is .0000003

The blockchain charges us .0001 plus our .00015 fee we add so that you people don't wait around forever for your BTC. We remove .00030003 BTC from his account, and he gets .0003 BTC in his wallet. We, however, pay .00025 BTC to move the transaction. So we lose the entire .00025 fee, minus the .0000003 we "charged".

2000 of these withdrawals and our BTC wallet is insolvent by half a bitcoin. Thats $300 we should pay?

And now we have mid-sized trader who sells 3.5mil JPC at 32 satoshi, and he goes to withdraw his 1.12 BTC and sees a withdrawal fee of .00112, more than DOUBLE what we're charging now. Or the bigger guy who wants to withdraw 7 BTC - and wants a goddamned explanation NOW about why us assholes are holding his BTC hostage with an absurd you-cheating-assholes .007 BTC withdrawal fee THIRTY FIVE TIMES what mintpal and bittrex charge?!?!

See - what I'm seeing here is a lose lose lose situation. If we charge a percentage, the small BTC withdrawal people (which is you, otherwise you wouldnt be arguing for a system that NO ONE DOES because IT DOESNT WORK) bleed us dry, and - if there's a real asshole out there who REALLY wants to fuck us over, deposits 1 BTC then does 10,000 .00001 BTC withdrawals, costing us 2.5 BTC in fees in the process.

Or there's the guy who withdraws more than .51 bitcoin, who is now pissed because we raised the withdrawal fee.

So, since it's such a revolutionary idea where either the exchange itself, or the person who trades more than pennies - ONE of the two -  is getting screwed - I'd love to hear the answer on how that setup works and how we keep from going bankrupt, and keep from making anyone who trades more than half a bitcoin avoid our site like the plague.

Because putting in a system that says "Hey, if you want to trade in volume, don't deposit here, because our withdrawal fees are insane!" seems like the absolute worst way to get volume.

I'm not being an ass here - honest question: Do you actually understand how BTC transaction fees work? Do you realize that they are NOT a percentage, and it's a fixed rate - based on the data size, NOT the BTC size - of the transaction? That if I send you .00008 BTC, it will charge me a .0001 fee anyway, the fee being MORE than the amount I sent?

We are charging what WE are charged, based on a rolling average, plus a small percentage to cover losses we incur when the fee is actually larger than what we charged, plus the .00015 we add as miner incentive to prioritize our deposits.

And, I'm dead serious, let me know how us charging 18 cents more than mintpal or bittrex, and absolutely moving your BTC faster than them, is so absurd. You'll spend $65 on a video game, $9 on a pack of cigarettes, $5 for a shitty bottle of lite beer at a bar (that is less than a buck at the liquor store), but 18 cents to move your Bitcoin is reason to not use a website that performs better than the competition.

I'm... at a loss...

This honesty is why i love Allcrypt! keep it going man ill pay those pennies!

Edit: U guys where also the ones who came with the voting idea to begin with when the exchange was not online yet

i would rather pay the flat fee vs. a percentage