[ANN][XC] >> Mandatory Update to new Wallet - The first POS X11 anonymous wallet - page 231.

SpringfieldM1A

hero member

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Quote from: sacskate on May 23, 2014, 06:49:41 PM

I love how everyone here "believes" in this coin but are screaming to change the specs at an attempt to make it more rare. I hold quite of a few of these coins and I vote to leave it alone. Changing the specs is only an attempt to manipulate the price, which totally implies pump and dump. If the wallet actually is released and works the specs will not matter. It is good for a coin to increase in value, but to manipulate the specs in order to do this would make this nothing but a pump and dump with a good feature.

nail on the head, excellent post. Messing with the specifications of this coin will destroy or at least harm it's reputability. Please leave the coin how it is now, give it some time and it will grow. Let the miners do their thing, sell off their coins or keep them, slow but steady wins the race.

sacskate

hero member

Activity: 994

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I love how everyone here "believes" in this coin but are screaming to change the specs at an attempt to make it more rare. I hold quite of a few of these coins and I vote to leave it alone. Changing the specs is only an attempt to manipulate the price, which totally implies pump and dump. If the wallet actually is released and works the specs will not matter. It is good for a coin to increase in value, but to manipulate the specs in order to do this would make this nothing but a pump and dump with a good feature.

brother3

hero member

Activity: 980

Merit: 500

Quote from: CryptoClub on May 23, 2014, 06:34:21 PM

Quote from: mojun7982 on May 23, 2014, 05:31:49 PM

Quote from: cyberhacker on May 23, 2014, 05:25:35 PM

ATTENTION!

blackcoin is developing some stealth anonymity feature.

we have to forestall them.

forestall them? how? kill them? Grin

LOL

shhhh....Be wewy wewy wuiet....I am getting my voodoo dolls out Grin

CryptoClub

legendary

Activity: 1470

Merit: 1000

cryptocollectorsclub.com

Quote from: mojun7982 on May 23, 2014, 05:31:49 PM

Quote from: cyberhacker on May 23, 2014, 05:25:35 PM

ATTENTION!

blackcoin is developing some stealth anonymity feature.

we have to forestall them.

forestall them? how? kill them? Grin

LOL

MrWHALE

newbie

Activity: 56

Merit: 0

Quote from: battbot on May 23, 2014, 02:12:42 PM

Quote from: JesstersDead on May 23, 2014, 02:10:07 PM

Quote from: battbot on May 23, 2014, 01:39:39 PM

Quote from: JesstersDead on May 23, 2014, 01:24:48 PM

Quote from: battbot on May 23, 2014, 01:06:48 PM

Quote from: sixteendigits on May 23, 2014, 12:59:38 PM

Quote from: battbot on May 23, 2014, 12:45:00 PM

Quote from: battbot on May 23, 2014, 12:34:51 PM

Quote from: Bl4ckw00d on May 23, 2014, 12:27:36 PM

Quote from: veritasBS on May 23, 2014, 12:18:23 PM

Quote from: solid12345 on May 23, 2014, 10:52:37 AM

Quote from: Trezi on May 23, 2014, 10:49:31 AM

Yes I see it, but nevertheless I don't think it is good for the long term run. For example some investors avoid nxt because they have a distribution problem. I don't know if it is possible to have a richlist for anon coin but still the doubt for an unfair distribution is enough to avoid people. In the next month there will be plenty of anon coins and we have to compete with them. people have the choice. They will not pick a scam coin.

I guess I don't see how how whether mining goes on for 1 day or 1,000 days really effects distribution, either way it is the big multipools who will be getting all the coins.

If you want the coin then why not buy it, at this point it's just a few cents a coin, hardly expensive.

I agree. Stop the pow at 7.5 million coins. One tenth of blackcoin would be a great selling point to the rarity and value. Stop the pools from selling this coin into the ground. This is why other coins don't have 100day PoW periods. Investors lose confidence with the continued selling by the pools. We should petition the dev cut his premine down to the same percentage of total coins and stop the PoW at 7.5mil coins.

This gets a +1 from me as well

+1 from me as well. Multipools dumping will hurt the price that the first PoS coin with anon wallet deserves. Something needs to be done about the current mining phase / supply cap. If miners want to mine XC, let them do so from a XC multipool -- which will raise the price of XC rather than lower it.

If it stays as is - there will be 30m total supply and if this goes to 50k sats, there will be 7.8m market cap = no room to move up. If price runs to 100k sats, people will dump (because it will need to be 15m market cap when all coins are released to keep this price). = no growth beyond 100k sats, and people will dump the price down once/if it hits 100k.

If we change to 7.5m max coins and stop PoW when anon wallet releases. XC at 50k sats will have a market cap of 1.9m = much room for price growth & sustainability well past 200k sats or higher. Do you understand the math behind this guys? Total supply is important. And 30m supply is too much for a coin with anon tech.

Then stop the pump and dump, mine and hold, and buy coins from multipool dumpers.

Notice only thing being discussed here is price?

Not the tech, not the long term prospects or health of the coin, not sticking to the spec laid out in the ANN (which in my view is a signed contract between miners, investors, and the community when mining starts), not what is fair or right.

Your only argument is "WE NEED LESS COINS SO PRICE CAN PUMP AS HIGH AS POSSIBLE AS FAST AS POSSIBLE!".

Surprise surprise coming from a CINNI dev.

Atcsecure, if you cannot see this scam artist for what he is and what he is trying to do, turn your coin into just another pump and dump which you specifically stated you did not want to see happen, you are blind.

For the record, I hold 18k XC and am mining it, and am tempted more and more to dump them everyday if this is the direction the coin is taking.

No one is pushing for a pump and dump. We, if anything, are pushing to sustain a high value of this coin. I am not saying the total supply has to be 7.5m, I was just going off of Veritas' example. But, I think most of here can agree that the total supply and 100 day distribution phase is way too much, with nearly 80 GH/s net hash, and about 90% of that being multipools + individual mining farms. This will make it so multipools dump to suppress the price and discourage investors, and those few individuals with mining farms / asics will end up with an unbelievably large share.

The best way for growth is for people collect XC by BUYING it, not mining it. And people will buy it if the dev team delivers. But people are less likely to buy it if they know for the next 2 months multipools will be dumping into their low-ball buy orders. And after 2 months of mining are over, anon tech will probably common. Come on people, think.

I agree.. and I am a miner. But I also work for Cryptsy, and can safely say from experience, that regardless of tech as soon as most coins get listed they get dumped in to oblivion by miners looking for BTC. That being said, miners should absolutely be involved in the initial distribution of a coin. The argument that "they should buy like the rest of us" can just as easily be reversed to "they should mine like the rest of us". For equal and fair distribution to come in to play, anyone should be able to acquire at least a minimal amount of coin. And for a LOT of people, mining on there gaming GPU is their only option. So why should a coin be limited to only those who can afford to invest capital in it? It would be no different than real world markets, where investors with the most money own the market.

I do however think there is something to be said for limiting the total amount of PoW minted coins. Miners are going to dump, end of story. My personal electric bill to run my rigs is round about $1000 USD per month. If that isn't investing in something I don't know what is. And many miners have substantially higher bills than I. The trick will be finding a fair and popular consensus among both miners and investors. Not all investors are going to hold and not all miners are going to dump. My $1000 dollar electric bill is no less of an investment than a $1000 wire transfer to Coinbase. So neglecting either demographic would be a wise idea.

Frankly, I would vote for decreasing the amount of coins minted via PoW. Either by a decrease on the block reward, or simply shorting the mining period... or both. I will however leave actual hard numbers to wiser folks than I. As I have no idea what a viable "coin cap" would be.

Yes, I agree with you for the most part. But as VeritasBS already said:

"There is a profit motive here for both the investors and for the miners. The question is: which will build long term value, catering to the miners desire for quick profit by mining and dumping, or do you want to go after investors who will build out the coin ecosystem and improve the long term value of the coin. I'd say, without question, make the right moves to acquire investors."

Investors who BUY are much more crucial to a coins long-term success than miners who DUMP.

Agreed, but in a fledgling market volume is needed. And long term investors do not increase volume when they are all holding. Hence why so many "IPO" style coins fall flat on their face or get dumped by "investors" due to panic. Again though, I agree with you on the need for a significantly reduced PoW stage/coins. The questions is not so much, should miners be excluded? It's to late for that argument anyway. It's, at what point should they be cut off? A limited PoW period drives volume, which is good if it can be effectively managed. Frankly, I am not worried about investors, the Anon wallet alone will bring them flocking. I know I for one am now an investor in regards to the few thousand XC i managed to mine. Tongue

Agreed. My proposal is total supply: 10m coins and let PoW continue for another 1-2 weeks max with reduced block rewards. This will give XC enough time to get a proper XC multipool created so miners can continue mining after PoW is over, and instead of mining to dump XC, they will be mining to buy XC

This Dev ^
Read everything please.

the_game1224

sr. member

Activity: 252

Merit: 250

Quote from: saberu on May 23, 2014, 05:39:10 PM

Quote from: atcsecure on May 23, 2014, 05:34:42 PM

Quote from: cyberhacker on May 23, 2014, 05:25:35 PM

ATTENTION!

blackcoin is developing some stealth anonymity feature.

we have to forestall them.

no, we just need to code faster, our stealth mode will be rock solid and impressive... but it is several rev's out from the first wallet release which is still on track for Sunday Night!

Moon T minus 4800 hours. Calling all Moonrakers get your XC while its cheap!

When that wallet is released watch out!!

Junkey

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Just started mining with my 7970. Does anyone have an idea what speeds I should be getting? Thanks.

saberu

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Merit: 100

Quote from: atcsecure on May 23, 2014, 05:34:42 PM

Quote from: cyberhacker on May 23, 2014, 05:25:35 PM

ATTENTION!

blackcoin is developing some stealth anonymity feature.

we have to forestall them.

no, we just need to code faster, our stealth mode will be rock solid and impressive... but it is several rev's out from the first wallet release which is still on track for Sunday Night!

Moon T minus 4800 hours. Calling all Moonrakers get your XC while its cheap!

mojun7982

full member

Activity: 269

Merit: 100

The Standard Protocol - Solving Inflation

Quote from: atcsecure on May 23, 2014, 05:34:42 PM

Quote from: cyberhacker on May 23, 2014, 05:25:35 PM

ATTENTION!

blackcoin is developing some stealth anonymity feature.

we have to forestall them.

no, we just need to code faster, our stealth mode will be rock solid and impressive... but it is several rev's out from the first wallet release which is still on track for Sunday Night!

this sunday night? UTC or EST?

cyberhacker

legendary

Activity: 1330

Merit: 1000

Quote from: atcsecure on May 23, 2014, 05:34:42 PM

Quote from: cyberhacker on May 23, 2014, 05:25:35 PM

ATTENTION!

blackcoin is developing some stealth anonymity feature.

we have to forestall them.

no, we just need to code faster, our stealth mode will be rock solid and impressive... but it is several rev's out from the first wallet release which is still on track for Sunday Night!

make a history! we will be the mainstream and consider the calling from community about alteration of coin supply.

CoolForCoins

newbie

Activity: 26

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To change the subject for a minute, have you thought about just calling this XCoin? I think Darkcoin was called this originally but I still really like the name. X11coin is a bit unwieldy, plus I like the idea of the singular X being used for amounts. For instance:

(Dude Looking To Buy A Hat): "Excuse me fine fellow, how much for that hat?"
(Dude Who Works In A Place That Sells Fashionable Headwear): "Oh, that hat: 300 X".

atcsecure

hero member

Activity: 756

Merit: 500

Quote from: cyberhacker on May 23, 2014, 05:25:35 PM

ATTENTION!

blackcoin is developing some stealth anonymity feature.

we have to forestall them.

no, we just need to code faster, our stealth mode will be rock solid and impressive... but it is several rev's out from the first wallet release which is still on track for Sunday Night!

cyberhacker

legendary

Activity: 1330

Merit: 1000

Quote from: mojun7982 on May 23, 2014, 05:31:49 PM

Quote from: cyberhacker on May 23, 2014, 05:25:35 PM

ATTENTION!

blackcoin is developing some stealth anonymity feature.

we have to forestall them.

forestall them? how? kill them? Grin

release the wallet first!

mojun7982

full member

Activity: 269

Merit: 100

The Standard Protocol - Solving Inflation

Quote from: cyberhacker on May 23, 2014, 05:25:35 PM

ATTENTION!

blackcoin is developing some stealth anonymity feature.

we have to forestall them.

forestall them? how? kill them? Grin

cyberhacker

legendary

Activity: 1330

Merit: 1000

ATTENTION!

blackcoin is developing some stealth anonymity feature.

we have to forestall them.

mojun7982

full member

Activity: 269

Merit: 100

The Standard Protocol - Solving Inflation

Quote from: saberu on May 23, 2014, 05:18:44 PM

Veritas sounds like you have 10x more coins than me but I love your strategy of short term trading new Polo coins, I would do the same if my investment so small to begin with. I just am relying on blind faith that XC will reach Dark prices.

Interesting faith,I like Wink

saberu

full member

Activity: 224

Merit: 100

Im not watching 24:7 but I have seen a million coins being bought at 0.0002 on Polo alone, or at least around this price.

Check this out in one trade this guy bought way more coins than I own- 0.00019000 27189.46748881 5.16599882

saberu

full member

Activity: 224

Merit: 100

Veritas sounds like you have 10x more coins than me but I love your strategy of short term trading new Polo coins, I would do the same if my investment so small to begin with. I just am relying on blind faith that XC will reach Dark prices.

mojun7982

full member

Activity: 269

Merit: 100

The Standard Protocol - Solving Inflation

short POW and long POS Cheesy

veritasBS

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Activity: 122

Merit: 100

Quote from: saberu on May 23, 2014, 05:04:52 PM

Quote from: atcsecure on May 23, 2014, 04:57:29 PM

Quote from: saberu on May 23, 2014, 04:54:12 PM

Quote from: veritasBS on May 23, 2014, 04:51:00 PM

Quote from: dow1135 on May 23, 2014, 04:44:51 PM

If it weren't for our videocards mining this from the start before most people even knew the coin existed, we would not be here. I'm not sure if you guys see what happens to Pow/Pos coins after the PoW is done, but from what I see most are dead or dying except for a few. I am a miner but I hold my coins, to say every miner dumps is wrong, and to say investors don't dump is wrong. If anything is going to change I would say block reduction and longer block times if necessary.

Nonsense...the pools all dump xc for btc. You are trying to protect your mining profits on the backs of investors. Whatever...other than a few miners, I believe the community has a singular voice. The PoW should end soon.

Problem is we need miners to secure the blockchain.

No POS secures block chain with POW and after POW ends

That works for me. Also if we keep POS low e.g. only 3% per year we are effectively cutting down supply from 33 million to 5~10 million since POS will be very slow. This will cause prices to rise too. Since im an investor im happy with this system, mining is really unfair I believe since its monopolised by the big mining farms who come in right at launch to switch on 10,000x the average miners mining power and sweep up a million coins.

Exactly.
The most fair way to distribute is to have a short PoW and let the market take over. Long PoW will break the backs of investors with continued sell pressure. The coin will die like mint. Honestly, I am here to trade the anon announcement and will be out after if the coin specs don't change. I want this change because i like what i see here and would like to become an investor.

Topic: [ANN][XC] >> Mandatory Update to new Wallet - The first POS X11 anonymous wallet - page 231. (Read 268553 times)