Topic: Ixcoin TODO - page 299. (Read 631736 times)

Exactly zero.  Fees + block subsidy = miners reward.  If you have 1% of the hashpower, you will solve 1% of the blocks and 1% of the reward.

How much is a conservative figure for transactions fees?  So if one own says 100,000 ixCoins then you'd be entitled to some fee per coin every time there's a transaction?

How does that work and how much can someone expect?  Is it like 1 penny per coin? I realize this would only happen if ixCoins takes off, which it has never done.

There's some really large buys now on Cryptsy, 3 blocks of around 50,000 coins.  I've never seen this before. Usually the buys are small and I'm usually the only one getting large blocks.

So who's buying so much ixCoin, and why.  And can you please let me get just 100,000 coins more and then I'll be done.

That was my initial theory about 3 months ago but now seeing how Bitcoin doubled in price while over 90% of alt coins crashed I had to alter my theory and presume that Bitcoin going to $1,000 will utterly collapse and kill most alt coins.  Especially scrypts as they're not merge mineable.

I agree, it's a strange phenomenon, all these other hyped and popular coins are down huge against bitcoin, yet ixCoin is up now 50% MORE than Bitcoin and hardly anyone knows about it or buys it.

Although over the last few days I've seen a few people on Cryptsy buying it - I'm pretty certain I raised some awareness on there as I talk about it all the time.  Really ruined my chances in buying more, though.

why i use the windows ver client , it's reported error!


so,i can't send my coin to the trade

I believe all cryprocoins are now very cheap.
Look at charts and data from past and compare it with hundreds of billions of fiat money (USD, EUR) which appears out of nowhere every Month. I am sure many coins will skyrocket this autumn once Winklevoss twins finish their Bitcoin ETF.
I wouldnot wonder if Bitcoin grows to $1,000 next year or so. And Bitcoin will push the price level of other cryptocoins to new highs. I believe it will happen another rallye and all coins with solid grounds and developers will grow a lot in their value.

One that I know of, and have used in the past (before I set up p2pool for myself so as to be able to merge more coins than mmpool merges), and still use as my backup pool, is

http://mmpool.bitparking.com

-MarkM-

where is the mining pool?

Miners will still get transaction fees, and it is a merged mined coin so it is pretty darn cheap to mine it since you still get to use your hashing power on bitcoin and all the other merged mined coins at the same time.

Still, it would make sense to get a whole lot of transactions flying by then, such as by having lots and lots of shops with lots and lots of customers all buying and selling in Ixcoins.

Also techish is the RAM usage problem that all merged mined coins will show more and more the more blocks they go through, the coins that make blocks fastest, GeistGeld and I0Coin, were already using huge amounts of RAM some time ago, all the others will eventually unless they get updated with the new code the current maintainer of I0Coin has put into I0Coin. SO basically all the other merged mined coins, including Ixcoin, will want to update their code based on latest I0Coin eventually, and probably the sooner the better, in order to consume less RAM.

Yes, 121 plumbum (lead - chemical element symbol Pb) etc etc FAX is mine, thanks.

-MarkM-

Now you're being honest and showing character in a digital world of no such thing.  It makes me wanna give you a bigger tip but I took out all my bitcoins today to buy an ASICS miner and the coins I have I'm either losing money on, or, like ixCoin, I refuse to sell.  

Thanks again for your input.


Edit:

Ok, hopefully I got the right address:   121Pb2BBrU7C61vBdWCKVuFFmaEZr6xFAX 

Thanks again.

Ok, Mark, so I read your post again and I'm pretty confused.

This is like a different language and a different world.  Literally. You said a different planet?  Cause mining costs too much on earth? 

Did elon musk make it to mars already?  Lol, ok, I'm joking so you must be talking about avatar worlds, video games.  I have no idea how those work or how big they are but my guess is that its a niche market.

What I'm trying to do is figure out which, if any, coin(s) have some sort of unique technological advantage, even if it was some fluke and something completely missed by everyone.

 It so far, from your explanations, it sounds like any alt coins can be used like ixCoin and so ixCoin holds no unique technology or ability.

From a mass, main stream perspective, could you think of any reason why anyone, like a bank or a large investor or a large tech Company, would choose ixCoin as their top choice coin?

From an economic or banking point of view I have stated several fairly unique reasons why I would choose ixCoin over other coins but I'm hoping or wondering if there's something I'm missing on the tech side.  And if there is nothing then I need to take that into consideration. 

Cause if ixCoin is to become a popular coin, there would have to be more to it than the economic reasons I pointed out. 

For example:  the intact block chain, how important and how rare is that?  21 million coins and a terminal end in like 18 months:  from a tech view, what happens when a coin is no longer mined?  I mean, there's no incentive, so that means nobody mines it which means ixCoin will no longer be secure, right?  This sounds like a death sentence, what am I missing?

Is there anything else people are missing about ixCoin, from a tech perspective?  Cause I'm not seeing anything which does worry me a bit.  Or maybe that can be hard forked in later if someone does decide to take ixCoin over.

And finally, what's your take on the dev coming back to revive ixCoin and not a single sign of life.  It has baffled me since day one and I still cannot find a plausible explanation.  Any ideas or theories?  A this a good thing?  I mean, if I were a banker I would prefer to hi-jack a coin fully intact and with users but preferably no founder to cloud up the matter or get in the way. 

Well sure, if you insist, but I am also posting that story to the Devtome, which will pay me one share of Devcoins per thousand words, so I already do have a plan for getting paid for the post.

My tip address, which works for devcoins or for bitcoins, is shown near the bottom of my Devtome wiki userpage, which is at http://www.devtome.com/doku.php?id=wiki:user:knotwork (I am known as knotwork there, because I own knotwork.com and knotwork.net - for example I run the Digitalis Open Transactions server at ot.knotwork.com ...)

-MarkM-

Mark, that's a lot of work.

I have watched you regularly give such educated input to so many people and noobs like me and nobody has ever repaid you in any way, that I have seen.

I'm gonna presume your BTC address is correct and I'll send you like .25 BTC. I know it's not a lot but I do appreciate all your input over the past 4 months.  More people should tip the senior coders and programmers on here.  Thanks a lot.


Edit:

You don't have a BTC address on your profile.  Lol, would you mind posting one?  Thanks.

Transaction pipe fatness and the Digitalis Open Transactions server

Okay, let us suppose that someone is interested in buying, lets say, a United Kingdom Britcoin (UKB).

Looking around for places where people trade such things, they happen across the Digitalis Open Transactions Server.

Looking at their junk pile of lottery-tickets aka their collection of altcoin wallets, they happen to pick Ixcoin as the coin they figure they can afford to part with some of to take a gamble on this UKB stuff that has somehow caught their interest. (Maybe they met a member of Britclan on MUDgaard, for example, and thus learned of the existence of UKB and thought it might be nice to have some, if only to have an "in" with that clan.)

So okay, lets say that they also learned of the "last known value" readout located at http://galaxies.mygamesonline.org/latestrates.inc ... They look at those "latest rates" and see that Ixcoin's latest known value is listed as IXCrate=236.85086190 and UKB's latest known value is listed as UKBrate=131720558.06933953

From that it is trivial to compute that the value of UKB in Ixcoins, (UKBrate / IXCrate), should, if markets operated efficiently, have been somewhere around 556132.90579855 Ixcoins per UKB.

Now obviously people waiting patiently to sell UKB for IXC would obviously be hoping/waiting to sell for more than that, and people patiently waiting to sell IXC for UKB would obviously be hoping/waiting to sell less IXC than that for each UKB, so likely the actual prices asked and offered would have been above and below that figure, with people who are in a hurry paying a premium to get what they want as soon as they can get it.

So anyway, this prospective buyer of UKB decides he wants to get, say, 600000 IXC onto the Open Transactions server so as to try to buy a UKB even if UKB turns out to have gone up in valuation compared to IXC by the time they are actually able to place a buy offer or take someone up on a sell offer.

This is where the "fatness of the pipe" comes in.

It turns out that the server only actually has 10,000 digiIxcoins (dIXC) in existence, because the cold storage vaults backing the digitokens on the server only contain 10,000 deep-frozen actual on the blockchain Ixcoins.

So, the most dIXC anyone is going to be able to sell in one shot is 10,000.

So, our hero seeks out people who have dIXC on that server who are willing to sell some dIXC in return for some actual real on the blockchain Ixcoins.

If he is lucky, he is able to find a so called market maker, who, just like the various third party sites that used to sell people e-gold, or Liberty Reserve, or who still sell people Pecunix, is in the business of selling people digitokens for actual on-blockchain coins, and has some dIXC for sale for real actual IXC.

The most dIXC that market-maker could have available is 10,000 since that is all that have actually been issued. Maybe our hero gets lucky, and that market-maker happens to be holding all ten thousand of the dIXC that exist. Awesome! Our hero buys them using real on the blockchain Ixcoins. A transaction pipe ten thousand dIXC fat is now possible for our hero to use to buy UKB!

Oops, here we hit another little glitch! It turns out, possibly even to our hero's surprise, that the Digitalis Open Transaction server only deals in integer numbers of things. Whole shares, whole coins, whole whatevers. Whole United Kingdom Britcoins, for example. There is no dealing in fractions of a coin. If you want to deal in smaller granularity, that is what lower-value coins/assets are for!

So our hero looks again at http://galaxies.mygamesonline.org/latestrates.inc , this time looking to see what thing has the lowest last known value. It happens to be the case at that time that the lowest value shown is DVCrate=1.00000000 , because in general the list of values has the best "granularity" when the lowest-valued asset is used as the asset in which the values are denominated.

So, he can now compute that in order to buy one dUKB he would need UKBrate dDVC, that is, 131720558.06933953 dDVC.

Checking with the market-maker, lets say he gets lucky again and learns that the market-maker sells DVC and has the entire 200 million dDVC that is the entire total of all the dVC that have been issued onto the server. Awesome, that is enough dDVC to buy a whole dUKB!

At this point our hero is quite likely to ask the market-maker whether, perchance, the market-maker happens to deal in UKB or dUKB, since it is becoming apparent that if you could trade on the blockchain coins for on the blockchain coins without going through an Open Transactions server maybe this whole Open Transactions thing could be avoided and he and the market-maker could simply do a direct person to person trade of IXC for UKB.

Ah but there is a catch, it turns out. Actually, two catches!

One is that this particular market-maker does not carry UKB, because he only deals in actual on the here-on-the planet known as Earth blockchains and the digitokens used on the Open Transactions server to represent such coins.

Two is that UKB does not operate on a blockchain here on the planet known as Earth, because on this planet miners charge such outrageously massive fees for hashing blockchains that it would be crazy to even attempt to secure a blockchain at such usurious rates. Thanks to the lack of affordable hashing power to secure a blockchain on this planet, UKB operates on this planet using Open Transactions servers instead of blockchains.

So, okay, our hero says, I want to buy 135 million dDVC on the Digitalis server, using actual on the blockchain Ixcoins.

Lets get our fatness of pipe thing back into the story here though, shall we, so we can show how, in the case of things low enough in value per each such thing that at least one such thing can be bought using the fatness of pipe you have at hand, you can do multiple trades to add up to the value you want to move...

So our market-maker says oh sorry but I already have ten thousand actual on the blockchain Ixcoins, which is all I will ever need, at least until the Digitalis server sees fit to issue more dIXC, so I don't want any more of your actual on the blockchain Ixcoins. But I will work around this problem for you, because market-making is what I do so solving problems such as this is my bread and butter. First off, if you would be so kind, let me refund you your actual on the blockchain Ixcoins, as I will be needing those ten thousand dIXC tokens I sold you for them. Thanks. Now watch as I offer those dIXC for sale for something else, hmm, it has to be something I can buy at least one of for only 2,360,000 dDVC or less because that is about what these 10,000 dIXC are worth. Hmm, lets pick dNMC, as those are only worth about 11500.79662986 dDVC and I happen to know a chap who has lots of them and who collects all the merged mined coins so I know he will be interested in buying some actual on the blockchain Ixcoins. Yes, sure enough, lookie there on the ten thousand scale dNMC/dIXC market, that offer to buy up to a hundred lots of ten thousand dIXC per lot for dNMC is probably him. I'll sell the dIXC to that offer. Oh lookie here, as I expected his scripts automatically sent me a request to buy some real on the blockchain Ixcoins for ten thousand digiIxcoins! Ha! Y'see I know he really prefers on the blockchain coins to digitokens so I figured he would do that. I am his usual market-maker, and I already told him I'd keep an eye out for actual on the blockchain Ixcoins for him to buy from me for dIXC. Now, please, send ten thousand real on the blockchain Ixcoins to him, here is the address he has me send real Ixcoins to him at. He - or his scripts, anyway - will send me back the dIXC on the Digitalis server and we can sell it to him again for more digiNamecoins, and so on until we have enough digiNamecoins to buy you a digiUKB...

-MarkM-

@MarkM,

From my research, ixCoin is supposedly a Bitcoin clone with only 21 million coins and they finish mining in about 18 months.

So how can there be an infinite number of coins?  And how can you have an infinite number of coins but with sudden death?  If ixCoin is a Bitcoin clone, then doesn't that make ixCoin simply a 21 million coins and that's it.  But I guess without the tapering off, so sudden death.

I guess I don't understand why an android phone would use ixCoin payments over Bitcoin or i0Coin.  Why did you choose to use 10,000 ixCoins as a base currency?  Cause right now I'm still not seeing any advantage or reason why anyone would choose ixCoin for use with their android over any other currency, which leaves me with the hope an ETF 2.0 will choose ixCoin.

Ixcoin seemed and I guess still seems pretty similar to I0Coin, the main difference lately having been that bitparking dropped I0Coin thus making its difficulty drop thus making it much much easier for small merged mining miners to get them. Ixcoin meanwhile stayd on bitparking all along so stayed hard for small miners to get much of.

I guess I0Coin likely is faster blocks than Ixcoin otherwise presumably Ixcoin ought to have increased in RAM usage as fast as I0Coin did, so I am not sure why I0Coin used to be called a clone of Ixcoin but without Ixcoin's pre-mine. It has less coins per block too, so again, doesn't seem a clone really, certainly it does not seem to be "Ixcoin but without the pre-mine" as I seem to recall it used to be advertised as.

I think Ixcoin is some weird combination of same number of coins per block forever yet no more coins after a certain block, a sudden death scenario or something? If so that might be the most unique thing about it, pretty much all other coins either churn out the same number of coins per block forever or taper down such as by halving number of coins per block every so many blocks.

If it is a sudden-death scenario for minting that could be interesting to see when its time comes.

-MarkM-

Wait a minute, what?

What is this pipe and open transactions thing?  I never knew there was another way for these coins to make it to mainstream.  So there's some backdoor to a higher valuation?

HOW Does that work?

And Can you tell me if there is a technological difference between ixCoin and all other coins out there?  Is there anything that sets it apart on that end? Or something unique that gives it an advantage?  Because I don't understand any of it.

Thank you!

I am not sure how many I really have, I just checked the issues clerk's notes of how many of each digitoken were issued onto the Digitalis Open Transactions Server and is says only 10,000 dIXC were issued so I guess I didn't issue some 20k or so afterall so likely I had some 20k or so and only issued half of them onto the server.

I am pretty sure though that even if I somehow have accumulated enough to be able to sell all of them plus the 10k on the server I'd be lucky to get 5 bitcoins for the lot, and sure as heck nowhere near 10 bitcoins at current prices. ince even just a KnC Jupiter would cost somewhere up near 30 (and might not ROI but that's a whole 'nother story) what would I even buy with even 10 bitcoins nowadays, let alone 5 ?

Then suppose the iPhone and Android clients for Open Transactions do finally come out and it turns out 10,000 dIXC isn't fat enough of a transactions-pipe to carry the load of transactions-involving-dIXC? So maybe I should hold some a while yet just in case I need to issue more dIXC once the masses start actually using Open Transactions?

-MarkM-

@MarkM,

I totally agree.  Litecoin offers little yet it's almost $3.  It's only a matter of time before other coins go to $3 and higher.  That's why most of the coins I have bought I will not sell for a double or even more.  I'm gonna wait to see what unfolds over the next 12 months cause I think it's gonna be huge.

BTW, I'm curious, what would you consider a small hoard of ixCoin?  I cannot find people buying or hoarding it so I have no point of relativity to know where I stand with what I own.  

I'm now at nearly 400,000 ixCoin, which cost me around 30 BTC.


Thanks.