Topic: Execoin: | First Open-Source Stealth Wallet Released! | Fast | ASIC-proof - page 67. (Read 281694 times)

too early to announce end.
last month, it was already at 4k. nothing special.

Your arguments being ?

For all our new miners (and those who are returning) we would be happy to have you mine on our p2pool node http://216.249.119.195:9173/ to help support the decentralized nature of execoin during this period of rapid growth.

The price went from <4000 to >5000 satoshi.
To the moon!

Let's hope they use some p2pools, otherwise the network hashrate will be rather skewed if a couple large miners join...

Starting to build some solid buy orders again. Great to see.  Looks like thr price has likely bottomed, now hopefully we can attract some additional mining power.

NOW ON



https://bitcointalksearch.org/topic/worldcoinindexcom-cryptocurrency-price-index-384546

Will do the same once I get some BTC traded from another currency.

Did the same @ .00004 with CINNI proceeds on Poloniex. Will continue doing it until CINNI is mineable for sure.

I'm doing the same thing on poloniex. 426 EXE buy order @ 0.00004 BTC each.

Great! Let's start with a simple objective, a proof of concept, and go from there once we see what we can do, how big a wall we can build together.

Let's try to take and hold 0.00004 BTC/EXE on the bid side. I'm about to put in a bid at this price, using my FLT mining proceeds since yesterday. Here are the order stacks on Cryptsy right now:

http://i.imgur.com/3ZnYqcb.png

I'll place a bid to buy 250 EXE (I have a small rig) @ 0.00004 BTC. This will take out the 39 EXE order at the top of the ask stack, but the remaining 211 probably won't last long. I'll do the same tomorrow. If I see a wall form at 0.00004, I'll add some BTC I have in reserve to support the wall.

What would really make EXE valuable is if the developers get it integrated into Onmiwallet witch the Mastercoin foundation is building. That would make it possible to exchange bitcoins and execoins decentralized without a middle man. As far as I know only peercoin is working on this now.

Me too.

Looks like a small floor wall is starting to form.  Best bet your orders in now - it looks like the price is heading up this week.

Im game. I am out of town for the next two weeks so I won't be around 24/7 like normal. More like a few hours a days to check in.

I will be buying on cryptsy like a fool shortly...Thing is though....if you buy a few thousand, the price would jump pretty quick.

Could the website be updated to move the pools with lower hashrates to the top (maybe use some sort of api integration), if we all start mining other coins the network will be more vulnerable to a 51% attack... (might also add some sort of recommendation for people to join a p2pool if the network hashrate is low)

Well, I just moved one of my rigs to clevermining, now I need to build a standard scrypt miner for the other...

Sounds like a great idea to me. Maybe even a website to help coordinate the target buy/sell walls.

It sounds like a very logical way to combat the recent price drop, kinda like the blackcoin pool except without a central pool (which really isn't necessary, except for maybe convience, with all the profit switching pools that already payout in btc).

Here is a message one of the Execoin community members published on Reddit. We like this idea of price stabilization, but it requires well-coordinated actions from community members! Please read and let's discuss what do you think?

-quote-

I like this community, small though it is, and I like the fundamentals of the coin itself. That's why I decided to support the community and the coin by running the EXEtipbot. It's been running for a month, but hardly anyone has used it. Meanwhile, the coin is losing value rapidly, despite the good work done by our developer and the community: Android wallet, very nice subreddit, forum, block explorer, Crypsty, etc. I think those that still support this coin are not here solely to make a quick fortune; they also want to support something they believe is worthwhile. But even they might be having doubts at this point.

Today I reflected on the long term strategies. Until now we have been mostly imitating other good coins, riding on their coattails and hoping to at least catch up if not gain an edge with innovative tweaks. But the competition is fierce, and the speculators that drive the early success of coins are fickle. Perhaps we can do something really unique, building on our strengths, that will ensure long term viability despite the obstacles.
In the long run, a coin will be successful only if it is widely used for transactions and/or as a store of value (the two main functions of money). Both functions are enhanced by a constant price. A gradual but steady rate of increase in price is not too detrimental to the former function and enhances the latter. Either way, stability is a very desirable feature for money.

In the world of central banks regulating fiat currencies, stability is theoretically achieved by regulating the currency supply to match economic conditions. In practice, no central banker is either smart enough or honest enough to manage a macroeconomy and its money, resulting in the peril and madness of our current economic/monetary situation. In the world of crypto-currencies, coin designers chose a schedule of regular coin production and hope the free market does a better job than central bankers can. In practice we have seen wildly fluctuating prices caused by speculators and mining pools. Attempts to minimize the impact of mining pools, such as the gravity well, are only partially successful. It seems that the free market may not even be as effective as central bankers, a sad conclusion.

Execoin would be much more viable in the long term if somehow its price could be stabilized. Given the decentralized nature of crypto-currencies, this cannot be done by any central authority beyond the developer setting
the basic parameters of the coin at its genesis, and perhaps through occasional hard forks. It must be up to the community. Is this community strong enough to do it? Is it even possible?
A simple plan to move in this direction, given the current situation (a rapidly falling price) would be for all willing miners to stop mining Execoin. (Non-miners could assist by refraining from selling at low prices.) Instead, miners would mine the most profitable coin available and use the proceeds to build a bid wall on Cryptsy, supporting the price. This bid wall might be large enough to stabilize the price on the downside.
A similar ask wall could be established. (There should be plenty of Execoin horded out there to accomplish this). Both walls would gradually move up as popularity of the coin increases, but never letting it rise fast enough to attract the interest of mining pools. A community service could be created to provide recommended wall levels based on coin supply and exchange volume.

If the community is strong enough to succeed at this voluntary scheme, building up a track record of a gradually increasing price without wild fluctuations, we would have a great feature to offer consumers, merchants and savers. Get-rich-quick speculators and mining pools go elsewhere. But this strategy might lead to widespread adoption and eventually substantial wealth for early stakeholders.
I've already switched to mining Fluttercoin, a relatively profitable coin at the moment according to coinwarz.com. I will use the proceeds to buy Execoin. Anyone care to join me?

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