Topic: GLDCOIN @ Cryptsy! YAY - page 3. (Read 6577 times)

I fully understand your enquiry, but you cannot find certainty.  You tell me what BTC will be in 1 year.

Evolution will find its own reasons.

You are most welcome to join us : I cannot guaratee success, but I know that GLD is technically as good as most alts. After that it is the adoption and support which matters most.

Curious: If you succeed and GLDcoin gets to be a dominant Alt-Chain, do you think the community will stay the same?

Again, I understand how it makes sense now.  But if you succeed, doesn't that fall apart?  Doesn't widespread adoption make that point moot?

The short term reasons are clear, I'm asking about the future of the coin.  Think 6 months out, two years ago - What is the reason at that point?

That is really it.


GLD has some pleasant honest people., who are not generally in it for a quick buck.

Everyone likes to make a profit, sure, but there is satisfaction in decent, fair trading.

The nastier element on these forums are supporting other coins. We don't diss their choices.

Respect is all.

I appreciate the attempts to answer this, and have follow-up questions.


Can you elaborate on this difference?  You say it seems very fast, why is that?


You like it because it's profitable to mine, as mentioned before that seems like the reason people would like it, but doesn't answer the question of why someone not mining and not speculating would want to use it.  

You like it because it is named  "gold" which makes people think its more valuable than something like "feather" - Do you think this is an advantage, or is it a marketing gimmick?  Does GLDcoin do anything to make it more like "gold" than any other cryptocurrency out there?

What are the reasons, besides being named "Gold" and being easy to mine when right now its hard to mine more popular alt-chains, that it is "building up a following"  - Is there anyone in this following besides Miners who gain from it being more lucrative to mine and speculators who think it will go up in value?   Does it offer any tangible differences in, say, the code, or the rules they codify?  Or is it just about the name and the ease of mining?  

Also, does anyone realize that making an agreement among early miners to not sell their mined coins is a classic example of collusion?  Supply side agreeing to not sell because it would increase the supply available to the market, when by keeping supply tight the price per unit sold will be higher than it otherwise should be?  Does anybody have a problem with that, or is it just standard practice as far as you're concerned?


Why should you have a say in what happens?  What do you bring to the table with this power?   Whose interest are you acting on behalf of?

Why do you like the name?  Does it have anything to do with reality, or do you think it is a good marketing choice that will make unsophisticated users more likely to trust it because they believe gold has value where feathers do not?

How much did you spend to buy 30,000 GLDcoins, how long did you mine for 6,000 GLDcoins, why did you give some away - Altruism or because you want people to associate value with it, since they now own some and stand to profit form its further adoption?

Besides being easy to mine, what is the advantage of mining GLDcoins?

How do you participate in GLDcoin?  Is there a forum? Do you vote on things?  What things have you directly impacted, and why did you think it was important enough to initiate change on?  Are there any things you feel should be changed about GLDcoin, what are they, why, and why hasn't it already happened?

*Image removed due to spamming*
-SaltySpitoon

In addition to the above, i'll be honest here, it's the first coin that I can mine with my single GPU that I feel like I have a say in what happens to it.

I also happen to like the name for what that is worth.

To date I have mined ~6,000 coins, purchased ~30,000 on cryptsy, pledged and or given away more than ~7000 coins.

I don't have $1000's or $10's of thousands of dollars to throw at a mining farm to mine bitcoin or even litecoin, that money is tied up in stocks, forex and physical silver, which I am not going to touch.

In addition I like the people that are involved with GoldCoin and I get to participate and see actual results from my contributions.

Others may feel differently, Others may have other reasons why, but for me the above is the absolute truth, take it or leave it.

Current profitability of BTC 163%.

For me it the transaction speed, seems very fast, faster than bitcoin.

I don't care about Litecoin, I'm asking why someone looking at this for any reason other than because they think they can sell it at a higher price after getting them for cheap/free (mining at the very beginning, or being given them by people who are)

I'm really curious and it's odd nobody will answer me.  Why WHY would anyone want to use this vs. something that is already available and more widely adopted?  I appreciate you'd rather just talk about what you think my motives are, so let me be clear: I'm a journalist and I'm trying my very hardest to understand why this is anything other than a pump and dump.  Please convince me otherwise

Does it offer any differences or advantages?

I'm lost because if you're so into only sticking to existing chains like litecoin why even look at this thread?

So again, I keep asking and have yet to get a response

What does GLDCoin do better or different than other currently available and more popular cryptos? 

I understand that you guys like it because it's easy to mine and you're in it early, but why would anyone want to use it if they weren't mining it or expecting the price to continue going up because more people are speculating in it?   We call that the "Greater Fool" theory - it works until you run out of greater fools.

If you were in it for the profits, you'd be doing everything you can to convince people that there is opportunity - Like for example giving away GLDcoins so more people are invested in it succeeding, because they got coins for free and if they go up in value it will pay off for them.

One last time: Outside of getting GLDcoins on the cheap and hoping they go up in value, WHY would ANYONE want to use this over other already existing chains like Litecoin? 

Last time I'm going to ask, I'll just assume you have no answer if nobody answers again.

that are a lot of coins. I am also trying to buy more.

Good Point.  Cryptsy is fairly good in fact. I like the function.  I have so far bought 400000 GLD there in about 100 trades.

+1.  Absolutely right !

Tell the whingers and money-grabbers where to go.

Those spikes have very little to do with actual market movements and more with the way this particular exchange (Cryptsy) functions.

Normally, if the lowest sell order has a price of 1 (arbitrary units for simplicity), and I place a buy order at price 10, the order is executed at the price of the lowest sell order (1) and the difference (9) is refunded. The trade is then booked in the history-logs as having occurred at price 1.

Cryptsy doesn't do this and instead tries to match the price as good as possible. So if a sell order for price 10 exists and I place a buy order at 10 on Cryptsy, I get it for that price, even though much cheaper sell orders are available for me. This is then listed as a trade at price 10 and causes a huge spike in the price graph.

In case of GLD, the spikes happened with very low volume trades. Either someone made a typo (easy to do with the number of zeroes in alt-coin prices) or just did a trade like this for fun to mess up the graph.

It seems to me that the coin dies

You're wrong.
Who ever said anything about mining for a profit? I for one am mining for the altcoin, not for money. I'm even gonna get a better GPU (which I wouldn't have done in 6-12months) right now to help support it. I'm sure there are quite a few others who are doing the same.
I've already said this before
It will only die, if we let it die

damn I wish I had put in some sell orders for that price, would have got lucky