[ANNOUNCE] Ixcoin - a new Bitcoin fork - page 17.

caston

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Quote from: smoothie on August 15, 2011, 06:05:56 PM

With prices plumetting 66% of its value in 24 hours I'm not sure ixcoins is the best investment for mining or buying a virtual currency. With difficulty rise just around the corner I find it hard pressed to see the exchange rate rise above the profitability of the other markets.

Great for traders though

coblee

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Quote from: jackjack on August 15, 2011, 06:33:06 PM

Quote from: Nasakioto on August 15, 2011, 06:03:08 PM

To prevent manipulation errors with Bitcoin/Ixcoin addresses, Bitcoin addresses starting with 1 are now invalid. In the future, we might need to block out more addresses if Bitcoin starts using other address versions.

So people are dumb enough to put bitcoin addresses in ixcoin but not dumb enough to put namecoin addresses in ixcoin...?

Only reason is because the ixcoin exchange has deposit addresses for both bitcoins and ixcoins on the same page. So it was easy for someone to accidently copy and paste the wrong address. If there was a ixc/nmc exchange, you will have the same problem with sending ixc to an nmc address.

jackjack

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Quote from: Nasakioto on August 15, 2011, 06:03:08 PM

To prevent manipulation errors with Bitcoin/Ixcoin addresses, Bitcoin addresses starting with 1 are now invalid. In the future, we might need to block out more addresses if Bitcoin starts using other address versions.

So people are dumb enough to put bitcoin addresses in ixcoin but not dumb enough to put namecoin addresses in ixcoin...?

jtimon

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Quote from: Nasakioto on August 15, 2011, 06:03:08 PM

A fix was committed to address the concerns about the hard limit at 21M ixcoin. Thanks Genjix.

https://github.com/ixcoin/ixcoin/commit/7110ddf25667f059ebcee159963b6703fff53e13

So is it the opposite of steadyCoin again instead of just an implementation of otherCoin ?

Still don't like it.

smoothie

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With prices plumetting 66% of its value in 24 hours I'm not sure ixcoins is the best investment for mining or buying a virtual currency. With difficulty rise just around the corner I find it hard pressed to see the exchange rate rise above the profitability of the other markets.

Nasakioto

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Thomas Nasakioto

A fix was committed to address the concerns about the hard limit at 21M ixcoin. Thanks Genjix.

https://github.com/ixcoin/ixcoin/commit/7110ddf25667f059ebcee159963b6703fff53e13

If you have any comments/suggestions/reservations concerning this, please respond or post on http://ixcoin.org/forum.

To prevent manipulation errors with Bitcoin/Ixcoin addresses, Bitcoin addresses starting with 1 are now invalid. In the future, we might need to block out more addresses if Bitcoin starts using other address versions.

https://github.com/ixcoin/ixcoin/commit/1adddc0b6d57f7431611322df8df1a33f79d7727

In other news, first Ixcoin escrow at http://www.ixcrow.com and a Russian exchange appears to be gearing to start offering Ixcoins https://btc-e.com/ixc_exchange

smoothie

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Quote from: coblee on August 15, 2011, 04:44:20 PM

Yeah, ixcoin mining is really unprofitable right now compared to BTC. I'm surprised to see that http://ixpool.bitparking.com/pool still has a hashrate of 120 mhash/s. If you really wanted IXC right now, just mine BTC and then exchange them for IXC or buy them on the exchange. Given that there's no other use for IXC (unlike NMC), I don't see the need to own any IXC unless you are speculating and think the price will go up. But then again, why would the price go up. Ixcoin is not really adding any value on top of bitcoins.

+1

coblee

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Yeah, ixcoin mining is really unprofitable right now compared to BTC. I'm surprised to see that http://ixpool.bitparking.com/pool still has a hashrate of 120 mhash/s. If you really wanted IXC right now, just mine BTC and then exchange them for IXC or buy them on the exchange. Given that there's no other use for IXC (unlike NMC), I don't see the need to own any IXC unless you are speculating and think the price will go up. But then again, why would the price go up. Ixcoin is not really adding any value on top of bitcoins.

eskamobob1

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isnt bitcoin mining far more profitable than ixcoin mining as of right now? with the current exchange rate @ 1500MHash/s you make $9.02 a day from BTC mining but only $7.30 a day from ixcoin mining... IXC is also extremely unpopular compared to BTC and is not anywhere nearly as widely accepted (not that BTC is, but what does that say about IXC?)... so will someone tell me what the point is in mining IXC as of right now?

smoothie

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Quote from: mrbashfo on August 15, 2011, 03:54:35 PM

if the IX collapse I feel like we mined for no reason.

LOL I didnt mine for no reason. I was able to scrape BTC off the exchange for Ixcoins I generated on the first day.

mrbashfo

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if the IX collapse I feel like we mined for no reason.

kano

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Quote from: wallet.dat on August 15, 2011, 03:37:36 PM

Quote from: kano on August 15, 2011, 03:24:40 PM

At some point IX will no longer be worth trading and then what use is there left for IX?

Sorry, this is patently wrong. See my previous reply in this thread.

(Unless of course you're referring to Bitcoin itself collapsing)

No I am only referring to IX.
What value do IX have other than exchange for BTC?

The issue is BTC<->Currency not how to trade BTC for some other clone coin.

Why would people want IX once it's perceived value drops? So they can launder BTC? Cheesy

There are other clone coins to do that and I can't see that as it's only future as a method to keep the price from dropping to zero.

wallet.dat

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Quote from: kano on August 15, 2011, 03:24:40 PM

At some point IX will no longer be worth trading and then what use is there left for IX?

Sorry, this is patently wrong. See my previous reply in this thread.

(Unless of course you're referring to Bitcoin itself collapsing)

smoothie

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Quote from: ?? on ??

Quote from: smoothie on August 15, 2011, 03:19:57 PM

Quote from: ?? on ??

Quote from: smoothie on August 15, 2011, 02:18:54 PM

I think Thomas is unloading some of his Ixcoins for BTC. I am hard pressed to believe he would hang on to them for very long.

Those were dumped in the first day when there was 400000+ of volume on the exchange never seen over 200000+ after that...

If you watched the market that day the market only went up. So if he was dumping coins on the market two would the price go up? It would go down because of oversupply. I'm sure Thomas is smart enough to know not to make huge trades on the exchange. But I am sure he is cashing out over time. 580k coins come on that's alot of money made in less than a week worth of official public mining.

Well when demand for is greater than supply the price goes up or that is what they taught me in economics class anyways...

Edit: And I would add the only way for all them coins to be there on first day would be from him it would not have been possible to have all been mined by others.

In the first 24 hours 1,000,000 Ixcoins were mined. What are you talking about? Exchange came like 9 hours after the inital announcement of the new network. Where are you getting your numbers from?

kano

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Quote from: tysat on August 15, 2011, 02:01:22 PM

Quote from: smoothie on August 15, 2011, 01:41:15 PM

Ixcoin sure looks like it is dying today. I could be wrong but the price is tanking and is less profitable now to mine Ixcoins than bitcoins.

I'm going to keep watching because I am curious what Thomas believes will happen with this network once the profiting dries up.

It'll be just like namecoin, where people hop on when it's profitable to mine but don't do it otherwise. Though I think the price of ixcoin will be extremely volatile (compared to namecoin).

Well, since the point of this one was to make a certain aliased person profit, it wont be the same as namecoin.
One point of namecoin is to get domain names using a different DNS TLD to the standard.
You can still do that with namecoin.

At some point IX will no longer be worth trading and then what use is there left for IX?
The only use was to trade them for BTC ...
So the net result will be lots of people will lose a small amount of BTC that they traded for IX (that will become worthless and eventually untradable) and the early smart ones will have (already) traded most of their mined IX (be it 580K or otherwise) and made a lot of BTC.

As for selling them off - as I have already stated before, of course he wont just dump them, that would destroy the value of what he has and hardly sell any.
He probably has been trickle converting them to BTC since it reached some worthwhile value.

Well, it's lasted 4 days so far ... who knows how long until people realise the problem of giving BTC in exchange for IX and trading dives to zero ...

smoothie

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Quote from: ?? on ??

Quote from: smoothie on August 15, 2011, 02:18:54 PM

I think Thomas is unloading some of his Ixcoins for BTC. I am hard pressed to believe he would hang on to them for very long.

Those were dumped in the first day when there was 400000+ of volume on the exchange never seen over 200000+ after that...

If you watched the market that day the market only went up. So if he was dumping coins on the market two would the price go up? It would go down because of oversupply. I'm sure Thomas is smart enough to know not to make huge trades on the exchange. But I am sure he is cashing out over time. 580k coins come on that's alot of money made in less than a week worth of official public mining.

wallet.dat

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Well, whatever the intended purpose of Ixcoin was, it's going to serve as an invaluable tool in the future as it lends another layer of obfuscation with the ability to quickly and easily exchange between BTC, NMC, and IXC... and soon a few other *Cs as well. If you missed the early adopter boat for IXC, no big deal. There will be others.

wallet.dat

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Quote from: smoothie on August 15, 2011, 02:18:54 PM

I think Thomas is unloading some of his Ixcoins for BTC. I am hard pressed to believe he would hang on to them for very long.

If he is, he isn't using ixchange.bitparking.com to do it. Most of the trades I'm seeing on there are under 100 Ixcoins and they're not exactly flying across my screen.

smoothie

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I think Thomas is unloading some of his Ixcoins for BTC. I am hard pressed to believe he would hang on to them for very long.

jtimon

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I can understand that some of you mine these ixcoin to sell them, but who is buying?

Topic: [ANNOUNCE] Ixcoin - a new Bitcoin fork - page 17. (Read 128605 times)