Topic: [ANN][SPA] SpainCoin: freedom for Spain - Airdrop ended, last coins destroyed!! - page 58. (Read 347615 times)
March 26, 2014, 12:34:34 AM
What about giving the coins away but preventing the citizens from spending them right away? They need to at least hold on to them for 3 months maybe. Or maybe a random amount of time between 2-6 months.
March 25, 2014, 09:52:33 PM
And about the airdrop, we're definitely not going to give away 3% of the premine in a single day. The amount of coins will be limited so that only a reasonable number (an amount per day at the same order of magnitude as the coins being mined per day) that can be absorbed by the market will be given away at first to avoid spikes in coin supply.
And yes, i mean yesterdays price, its now less than half.
BTW, good to see you active here, keep on going, still have a couple hundred SPA
edit: well actually 20 min or so block times...
SpainCoinDev,
Let me first start off by saying how impressed I was with your ability to identify a problem with the coin (multipool abuse) and resolve the situation very quickly with the hardfork to scrypt-n. After seeing the course that AUR has taken with the airdrop, I think we can learn a few things about how to distribute the coin to Spain.
I think the best way to go about the airdrop is slow and steady. If you could keep the current influx of coins on the market the same rate as current mining allows, I think Spaincoin could be extremely successful.
Here is plan for distribution could look like to accomplish this:
1) On the day of the airdrop, cut the current mining rewards in half (from 100 SPA / 2 min to 50 SPA / 2 min). This would cut the number of mined coins per day from 72,000 to 36,000. You could now make up the other half of coins entering the market from the premine equal to 36,000 SPA / day. You could keep the same distribution Stages as previously proposed. Every Spanish citizen that claims their coins would take a number in line consistent to when they register for their coins. This would give you 360 people per day receiving their 100 SPA. At the rate of 36,000 SPA per day, it would take ~ 138 days to distribute the first stage of coins (5M).
2) At the beginning of stage 2, you will keep the mining rewards at 50 SPA / 2 min. This will maintain 36,000 SPA per day to come from mining. You will keep the same rate of coins per day to enter the market (72,000 SPA) by releasing 36,000 SPA/day to Spanish citizens at 50 SPA per day per person. Spanish citizens will again be assigned a number by when they register for their coins. The 2nd stage will grant 720 Spanish citizens 50 SPA/day and will take ~69 days to distribute the 2.5M coins.
3) At the beginning of stage 3, you will keep the mining rewards at 50 SPA / 2 min. This will maintain 36,000 SPA per day to come from mining. You will keep the same rate of coins per day to enter the market (72,000 SPA) by releasing 36,000 SPA/day to Spanish citizens at 25 SPA per day per person. Spanish citizens will again be assigned a number by when they register for their coins. The 3rd stage will grant 1440 Spanish citizens 25 SPA/day and will take ~69 days to distribute the 2.5M coins.
4) Stage 4 will be associated with a second mining reward halving from 50 to 25 SPA per 2 minutes. This will allow for 18,000 SPA/day to be released from mining. The total number of coins per day entering the market will remain at 72,000 SPA through the distribution of 54,000 SPA per day to Spanish citizens. At the stage 4 figures, 5,400 citizens will receive their 10 SPA/ day based again upon their registration number. The 8M coins will take ~148 days to distribute.
5) Stage 5 will maintain the same mining reward of 25 SPA / 2 min and a total of 18,000 SPA/day. At the stage 5 figures, 54,000 Spanish citizens will receive their 1 SPA per day based upon their registration number. The 7M coins will take ~129 days to distribute.
The distribution timeline will last for approximately 1.5 years in total based on this system. You could have block rewards continue to halve every 8 months for the remainder of coins to be mined following the last stage of distribution.
Overall, I believe a system like this will greatly aid in the widespread adoption of Spaincoin as well as help maintain/improve its value over time.
Really great thought!
March 25, 2014, 09:32:28 PM
I wish I could develop a program to block bots and dumpers.
March 25, 2014, 09:24:14 PM
And about the airdrop, we're definitely not going to give away 3% of the premine in a single day. The amount of coins will be limited so that only a reasonable number (an amount per day at the same order of magnitude as the coins being mined per day) that can be absorbed by the market will be given away at first to avoid spikes in coin supply.
And yes, i mean yesterdays price, its now less than half.
BTW, good to see you active here, keep on going, still have a couple hundred SPA
edit: well actually 20 min or so block times...
SpainCoinDev,
Let me first start off by saying how impressed I was with your ability to identify a problem with the coin (multipool abuse) and resolve the situation very quickly with the hardfork to scrypt-n. After seeing the course that AUR has taken with the airdrop, I think we can learn a few things about how to distribute the coin to Spain.
I think the best way to go about the airdrop is slow and steady. If you could keep the current influx of coins on the market the same rate as current mining allows, I think Spaincoin could be extremely successful.
Here is plan for distribution could look like to accomplish this:
1) On the day of the airdrop, cut the current mining rewards in half (from 100 SPA / 2 min to 50 SPA / 2 min). This would cut the number of mined coins per day from 72,000 to 36,000. You could now make up the other half of coins entering the market from the premine equal to 36,000 SPA / day. You could keep the same distribution Stages as previously proposed. Every Spanish citizen that claims their coins would take a number in line consistent to when they register for their coins. This would give you 360 people per day receiving their 100 SPA. At the rate of 36,000 SPA per day, it would take ~ 138 days to distribute the first stage of coins (5M).
2) At the beginning of stage 2, you will keep the mining rewards at 50 SPA / 2 min. This will maintain 36,000 SPA per day to come from mining. You will keep the same rate of coins per day to enter the market (72,000 SPA) by releasing 36,000 SPA/day to Spanish citizens at 50 SPA per day per person. Spanish citizens will again be assigned a number by when they register for their coins. The 2nd stage will grant 720 Spanish citizens 50 SPA/day and will take ~69 days to distribute the 2.5M coins.
3) At the beginning of stage 3, you will keep the mining rewards at 50 SPA / 2 min. This will maintain 36,000 SPA per day to come from mining. You will keep the same rate of coins per day to enter the market (72,000 SPA) by releasing 36,000 SPA/day to Spanish citizens at 25 SPA per day per person. Spanish citizens will again be assigned a number by when they register for their coins. The 3rd stage will grant 1440 Spanish citizens 25 SPA/day and will take ~69 days to distribute the 2.5M coins.
4) Stage 4 will be associated with a second mining reward halving from 50 to 25 SPA per 2 minutes. This will allow for 18,000 SPA/day to be released from mining. The total number of coins per day entering the market will remain at 72,000 SPA through the distribution of 54,000 SPA per day to Spanish citizens. At the stage 4 figures, 5,400 citizens will receive their 10 SPA/ day based again upon their registration number. The 8M coins will take ~148 days to distribute.
5) Stage 5 will maintain the same mining reward of 25 SPA / 2 min and a total of 18,000 SPA/day. At the stage 5 figures, 54,000 Spanish citizens will receive their 1 SPA per day based upon their registration number. The 7M coins will take ~129 days to distribute.
The distribution timeline will last for approximately 1.5 years in total based on this system. You could have block rewards continue to halve every 8 months for the remainder of coins to be mined following the last stage of distribution.
Overall, I believe a system like this will greatly aid in the widespread adoption of Spaincoin as well as help maintain/improve its value over time.
March 25, 2014, 09:11:51 PM
mmmmhhmm
March 25, 2014, 09:09:35 PM
Keep it calm
Just get
Goxed
Just get
Goxed
March 25, 2014, 09:06:07 PM
you have to keep in mind too most of the people being airdropped coins have no idea how an exchange works and just go hit sell for whatever the price the exchange is giving them. so then the next person drives it down and so on until you see the price that it is at now. you can't just hand coins to a bunch of morons and expect it to work out. a little education could go a long way to prevent the same thing happening with other coins with the same plan.
I think the basic underlying problem with national coins, is that investors are just so blinded by their greed and wanting to turn a quick buck, that they don't want to face the reality that the entire premise of the coins are laughable. Those who think entire nations will (with 90+ or more percent of citizens who have zero idea of cryptos whatsoever, with many over 40 years of age and barely able to operate their email) will NOT take the time to download a wallet, download 'currency,' then have to register on an exchange, learn how to transfer tokens to an exchange...then learn how the exchange process and pricing works...then register on ANOTHER site to transfer their btc...and SOMEHOW find a way to cash out to their own fiat currency to use actually USE the money. On top of that, these same people, even if somehow they found out about these free coins...how the hell would they trust that it's not a virus or nigerian scam since it is not coming from a federally verifiable source like their own government? Use your brains, people.
The devs of these coins are simply making fake wallets and depositing coins to their own fake accounts on airdrop. Then maybe to a few of their friends or forum members from the country. It's hilarious.
Does anyone in their right mind think an entire country would do this? Again, most of you guys are not living in reality. You are only thinking about the greed driving your purchase, and hoping that it will climb to 100x the price like aurora so you can cash out and go your merry way. But the market is becoming more aware of what is happening to these national coins, as they all suffer the same fate. IT's simply not plausible, and most are viewed as nothing but scams with beyond unrealistic goals.
The fact that none of the DEVS of these coins except for MAZA actually has a face and name for a sense of accountability should tell you something. They hold the premines. They are the ONLY winners in this game.
I generally agree with your thoughts, there is no reason what so ever to trust a dev who is not revealing his identity to the public.
That said, to say the devs are ONLY winners is not true.
Bought at 0.0002, sold at 0.0008.
I think I won something too
March 25, 2014, 08:59:54 PM
Do you think that i´m going to let you read my Dni-e chip?
Really?
Do you really think anyone forces you to get free money?
Really?
March 25, 2014, 08:53:36 PM
It doesn't look like anyone has noticed what happened last night so I will explain, because I was watching it very carefully...
There was a massive upwards momentum surging after the fork. When it got to about 0.00085, someone or some people started a massive, MASSIVE dump. It was very professional, they maintained the price reasonably well (they definitely used software or a bot for this - it was split into hundreds of sell orders which kept appearing as people bought). They dumped just under 0.0008 and very slowly went down to where it is now at 0.00054. They are STILL dumping. But they are maintaining the price so only dumping more when someone buys.
This has effectively killed the upwards momentum and therefore the volume. When people buy, the price doesn't go up because another sell order appears.
However, we CAN get past this if we try. The stuff being dumped is very CHEAP!! Whoever is dumping has made probably 2-3x profit and doesn't care if the value may or may not go up later. The dump must be almost at an end by now, so my advice is to continue to buy this cheap SPA and very soon the price will be zooming upwards again. There can't be more than a few bitcoins worth of the dump left at most, then the price will head north.
There was a massive upwards momentum surging after the fork. When it got to about 0.00085, someone or some people started a massive, MASSIVE dump. It was very professional, they maintained the price reasonably well (they definitely used software or a bot for this - it was split into hundreds of sell orders which kept appearing as people bought). They dumped just under 0.0008 and very slowly went down to where it is now at 0.00054. They are STILL dumping. But they are maintaining the price so only dumping more when someone buys.
This has effectively killed the upwards momentum and therefore the volume. When people buy, the price doesn't go up because another sell order appears.
However, we CAN get past this if we try. The stuff being dumped is very CHEAP!! Whoever is dumping has made probably 2-3x profit and doesn't care if the value may or may not go up later. The dump must be almost at an end by now, so my advice is to continue to buy this cheap SPA and very soon the price will be zooming upwards again. There can't be more than a few bitcoins worth of the dump left at most, then the price will head north.
This concerted coin value destroying dump has happened with other coins.
I agree. However, the negative psychological effect from AUR dropping so quick, whether unfounded or not, will stop any price northwards in the short term. Long term, if the Devs stick to their plan, I think the price will be much much higher though.
March 25, 2014, 08:38:47 PM
It doesn't look like anyone has noticed what happened last night so I will explain, because I was watching it very carefully...
There was a massive upwards momentum surging after the fork. When it got to about 0.00085, someone or some people started a massive, MASSIVE dump. It was very professional, they maintained the price reasonably well (they definitely used software or a bot for this - it was split into hundreds of sell orders which kept appearing as people bought). They dumped just under 0.0008 and very slowly went down to where it is now at 0.00054. They are STILL dumping. But they are maintaining the price so only dumping more when someone buys.
This has effectively killed the upwards momentum and therefore the volume. When people buy, the price doesn't go up because another sell order appears.
However, we CAN get past this if we try. The stuff being dumped is very CHEAP!! Whoever is dumping has made probably 2-3x profit and doesn't care if the value may or may not go up later. The dump must be almost at an end by now, so my advice is to continue to buy this cheap SPA and very soon the price will be zooming upwards again. There can't be more than a few bitcoins worth of the dump left at most, then the price will head north.
There was a massive upwards momentum surging after the fork. When it got to about 0.00085, someone or some people started a massive, MASSIVE dump. It was very professional, they maintained the price reasonably well (they definitely used software or a bot for this - it was split into hundreds of sell orders which kept appearing as people bought). They dumped just under 0.0008 and very slowly went down to where it is now at 0.00054. They are STILL dumping. But they are maintaining the price so only dumping more when someone buys.
This has effectively killed the upwards momentum and therefore the volume. When people buy, the price doesn't go up because another sell order appears.
However, we CAN get past this if we try. The stuff being dumped is very CHEAP!! Whoever is dumping has made probably 2-3x profit and doesn't care if the value may or may not go up later. The dump must be almost at an end by now, so my advice is to continue to buy this cheap SPA and very soon the price will be zooming upwards again. There can't be more than a few bitcoins worth of the dump left at most, then the price will head north.
This concerted coin value destroying dump has happened with other coins.
March 25, 2014, 08:20:46 PM
Do you think that i´m going to let you read my Dni-e chip?
Really?
you really got nothing to fear from... just read this:
https://support.signicat.com/display/SW/Spanish+DNIe
got me 5 seconds to google it and im not even a Spaniard...
March 25, 2014, 08:18:24 PM
Alright for the people who are saying the AUR has failed, you're all idiots. Its been one whole day since the airdrop has started and only 3% of the premine coins have been claimed. This means that there really isn't much going on with AUR right now in Iceland. However when the crypto economy starts to take shape when, I say more than 50% of coins are claimed and AUR starts changing hands, it will be up to the people of Iceland to decide its buying power. Just because AUR isn't such a high price right now doesn't mean it won't and can't be high again.
I know that spa and aph are probably taking hits right now because of the dumbass perception that AUR is receiving. But look, with spain in dire economic times right now, this coin has a great future ahead of it if and when people decide to adopt and they are more informed about it. AUR dropped to $5 one day and was back up to $15 within two. Everyone is just dumping at a low price but as we seen before, aur is the most unpredictable coin behind btc.
I know that spa and aph are probably taking hits right now because of the dumbass perception that AUR is receiving. But look, with spain in dire economic times right now, this coin has a great future ahead of it if and when people decide to adopt and they are more informed about it. AUR dropped to $5 one day and was back up to $15 within two. Everyone is just dumping at a low price but as we seen before, aur is the most unpredictable coin behind btc.
March 25, 2014, 08:14:16 PM
you have to keep in mind too most of the people being airdropped coins have no idea how an exchange works and just go hit sell for whatever the price the exchange is giving them. so then the next person drives it down and so on until you see the price that it is at now. you can't just hand coins to a bunch of morons and expect it to work out. a little education could go a long way to prevent the same thing happening with other coins with the same plan.
I think the basic underlying problem with national coins, is that investors are just so blinded by their greed and wanting to turn a quick buck, that they don't want to face the reality that the entire premise of the coins are laughable. Those who think entire nations will (with 90+ or more percent of citizens who have zero idea of cryptos whatsoever, with many over 40 years of age and barely able to operate their email) will NOT take the time to download a wallet, download 'currency,' then have to register on an exchange, learn how to transfer tokens to an exchange...then learn how the exchange process and pricing works...then register on ANOTHER site to transfer their btc...and SOMEHOW find a way to cash out to their own fiat currency to use actually USE the money. On top of that, these same people, even if somehow they found out about these free coins...how the hell would they trust that it's not a virus or nigerian scam since it is not coming from a federally verifiable source like their own government? Use your brains, people.
The devs of these coins are simply making fake wallets and depositing coins to their own fake accounts on airdrop. Then maybe to a few of their friends or forum members from the country. It's hilarious.
Does anyone in their right mind think an entire country would do this? Again, most of you guys are not living in reality. You are only thinking about the greed driving your purchase, and hoping that it will climb to 100x the price like aurora so you can cash out and go your merry way. But the market is becoming more aware of what is happening to these national coins, as they all suffer the same fate. IT's simply not plausible, and most are viewed as nothing but scams with beyond unrealistic goals.
The fact that none of the DEVS of these coins except for MAZA actually has a face and name for a sense of accountability should tell you something. They hold the premines. They are the ONLY winners in this game.
March 25, 2014, 08:10:16 PM
Auroracoin is going to tank short-term because of the massive coin supply (which won't happen when spaincoin is given away, because we'll limit the rate at which coins are given).
For Spaincoin now the effect is only collateral and psychological. That said, I have no idea what prices for both coins will do in the near future.
March 25, 2014, 08:07:38 PM
March 25, 2014, 07:46:50 PM
you have to keep in mind too most of the people being airdropped coins have no idea how an exchange works and just go hit sell for whatever the price the exchange is giving them. so then the next person drives it down and so on until you see the price that it is at now. you can't just hand coins to a bunch of morons and expect it to work out. a little education could go a long way to prevent the same thing happening with other coins with the same plan.
March 25, 2014, 07:31:21 PM
I don't think what is happening with AUR is helping our plight at all. NOt sure what will happen now.
March 25, 2014, 07:22:13 PM
March 25, 2014, 07:19:59 PM
Do you think that i´m going to let you read my Dni-e chip?
Really?
March 25, 2014, 06:55:43 PM
price down again 
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