Topic: [ANN][XC] >> Mandatory Update to new Wallet - The first POS X11 anonymous wallet - page 236. (Read 268507 times)
May 23, 2014, 03:01:54 PM
in the next 3 months the total amount mined will be 17 if the miners have there way, from 4 to 17 million in 3 months! then pos kicks in for the rest bringing it up to 33 million total, we want to reduce it so not so many coins flood the market, but they are crying and not using there brains
May 23, 2014, 03:00:50 PM
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.
I buy many number of darkcoins during 3months
because it's worth to buy
dump? it's good to buy
great dump? more big timing
if coin dev is solid and process their work step by step
coin never die.
I like this coin's plan and if dev keep their working it will be great
and the price is higher 20 times more comparing with the starting price.
Investors? miner? If coin is great
dump is just good timing
100 days pow is not bad method
During these season more and more people know the coin and buy amd sell and mining coins.
Don't hardfolk to make a price pump (it is shining and going down look other short time pow coins price graph) It destory the reputation and reliability of coins
DRK have 4.2M~ coin in the circulation.
May 23, 2014, 02:59:40 PM
I am confused, what is maximum coin? 17 million or 33 million?
May 23, 2014, 02:57:42 PM
in that 100 days the amount of total coins will go from 4 million to 17 million it is to much, way to much and most of the community agrees.
No, it likely goes from 4 mil to around 25-28m (not including PoS minted coins). and yes, this is way too much.
May 23, 2014, 02:56:01 PM
in that 100 days the amount of total coins will go from 4 million to 17 million it is to much, way to much and most of the community agrees. dark has been out for months what is there total coins in circulation about 4 btc has been out for years what is it's total coins in circulation about 12, we are talking about more coins being mined in the next 3 months then btc has had mined in the last 5 years!! think about it, it is to much.
May 23, 2014, 02:52:50 PM
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.
I buy many number of darkcoins during 3months
because it's worth to buy
dump? it's good to buy
great dump? more big timing
if coin dev is solid and process their work step by step
coin never die.
I like this coin's plan and if dev keep their working it will be great
and the price is higher 20 times more comparing with the starting price.
Investors? miner? If coin is great
dump is just good timing
100 days pow is not bad method
During these season more and more people know the coin and buy amd sell and mining coins.
Don't hardfolk to make a price pump (it is shining and going down look other short time pow coins price graph) It destory the reputation and reliability of coins
May 23, 2014, 02:47:24 PM
without investors btc would be worth....wait for it....nothing.
But what would have happened if BTC was mined over let's say 5 days? Do you really want to invest into such scam?
Interesting to think about...
Anyway, I will respect the decision to come as well as I respect you mate.
May 23, 2014, 02:45:22 PM
without investors btc would be worth....wait for it....nothing.
But what would have happened if BTC was mined over let's say 5 days? Do you really want to invest into such scam?
Interesting to think about...
Anyway, I will respect the decision to come as well as I respect you mate.
May 23, 2014, 02:42:15 PM
without investors btc would be worth....wait for it....nothing.
May 23, 2014, 02:39:39 PM
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.
May 23, 2014, 02:38:07 PM
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.
If they can pull off what they claim, people can dump all they like and the coin will still win. If you worry about whales and PnDers you are looking at it wrong. Let them pump if they want, if the coin is good enough it will survive that and get more attention.
This is right
lower the coin number of pow is not good for coin dev
that means only early get everything -_-
If you plan POW season under 1month. I didn't mine this coin
Too short season of pow is not good -_-
you think this is really good method?? Look other coins too short pow coin never be a good coin.
It's shining just a little time.
Don't lose your mind cause of the price of the coin right now.
If your plan and coding is good. The money and people comes more and more.
But look the thread. some people only say the "price" going higher!!
Maybe these people must sell their coins at their timing rapidly.
This coin is just start. And if your plan (anno wallet, blockchain 2, cell phone poss) will be doing well [I hope these are new and great]
That makes your coin great step by step. The price is higher with those things.
That time fan of X11 support you dev
plz don't give up your plan and road dev
Too short pow coin never be a money.
that is just a coin.. not at all
May 23, 2014, 02:34:17 PM
big coin price catches eyes of big investors that's what we want, go mine something else if you don't think it's fair
Are you not the one trying to change the rules because you think its not fair? both sides come down to money. The only thing that decreasing the number of coins will do is increase the value for people already holding. Which in turn works great for me considering I am at about 15k. But changing the rules as you go is not how it should be.
you know what, there are plenty Bitcoin out there already. Why don't we just change that to pos as well? Would increase the value substantially would it not?
May 23, 2014, 02:28:46 PM
Hi dev
any progress?
any progress?
May 23, 2014, 02:28:08 PM
big coin price catches eyes of big investors that's what we want, go mine something else if you don't think it's fair
Are you not the one trying to change the rules because you think its not fair? both sides come down to money. The only thing that decreasing the number of coins will do is increase the value for people already holding. Which in turn works great for me considering I am at about 15k. But changing the rules as you go is not how it should be.
you know what, there are plenty Bitcoin out there already. Why don't we just change that to pos as well? Would increase the value substantially would it not?
May 23, 2014, 02:27:38 PM
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 to BUY the coin. And people will buy it if the dev team delivers. 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. 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.
May 23, 2014, 02:24:48 PM
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 to BUY the coin. And people will buy it if the dev team delivers. 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. 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.
May 23, 2014, 02:22:01 PM
big coin price catches eyes of big investors that's what we want, go mine something else if you don't think it's fair
May 23, 2014, 02:20:59 PM
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.
If they can pull off what they claim, people can dump all they like and the coin will still win. If you worry about whales and PnDers you are looking at it wrong. Let them pump if they want, if the coin is good enough it will survive that and get more attention.
May 23, 2014, 02:20:09 PM
To all bitching about multipools, they exist, we know this, so stop bitching. If multipool miners don't see the value in XC, let them dump and buy it from them. Continue mining and hold.
I am all for a good old pump and dump, made alot off of shit coins.
XC was supposed to be different. XC was supposed to be about fairness, long term growth, new ideas, new technology, organic growth and not manipulated growth.
When it comes down to it, all of this whining is 100% about HIGHEST PRICE NOW IMMEDIATE GRATIFICATION, pump pump, dump dump!
There is literally no other reason to change the reward scheme or mining period.
what's not fair about reducing pow?? ohhh because you can't mine them for practically nothing, now i see what's not fair I am all for a good old pump and dump, made alot off of shit coins.
XC was supposed to be different. XC was supposed to be about fairness, long term growth, new ideas, new technology, organic growth and not manipulated growth.
When it comes down to it, all of this whining is 100% about HIGHEST PRICE NOW IMMEDIATE GRATIFICATION, pump pump, dump dump!
There is literally no other reason to change the reward scheme or mining period.
May 23, 2014, 02:18:10 PM
To all bitching about multipools, they exist, we know this, so stop bitching. If multipool miners don't see the value in XC, let them dump and buy it from them. Continue mining and hold.
I am all for a good old pump and dump, made alot off of shit coins.
XC was supposed to be different. XC was supposed to be about fairness, long term growth, new ideas, new technology, organic growth and not manipulated growth.
When it comes down to it, all of this whining is 100% about HIGHEST PRICE NOW IMMEDIATE GRATIFICATION, pump pump, dump dump!
There is literally no other reason to change the reward scheme or mining period.
I am all for a good old pump and dump, made alot off of shit coins.
XC was supposed to be different. XC was supposed to be about fairness, long term growth, new ideas, new technology, organic growth and not manipulated growth.
When it comes down to it, all of this whining is 100% about HIGHEST PRICE NOW IMMEDIATE GRATIFICATION, pump pump, dump dump!
There is literally no other reason to change the reward scheme or mining period.
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