Author

Topic: Ixcoin TODO - page 306. (Read 631736 times)

legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
August 21, 2013, 01:35:10 PM
I'm curious how many people on here are accumulating some ixCoins.  Whether by mining or purchasing them, how many are planning to hold say at least 10,000 ixCoins as speculation?  That's hardly more than half of 1 Bitcoin.  TIA

Like I said before I have 15K that I bought in 2011 and which I still keep, but only because I've accepted the fact that it was bad investment decision. I had a small window of opportunity back then to make a profit, but I slept through it, so until I see a good reason to sell them, I'm going to keep them Smiley


That's right, you're the guy who spent something like a few USD per ixCoin, right?  I can't believe they were worth that much at one point.  That's another way to value this coin - its past valuation compared to bitcoin.

Of course, in the end it's all hypothetical since there's no intrinsic value.  That makes buying any alt coin a very risky endeavor.  But given I'm looking at and strongly believe in the (coming) big picture the risk doesn't appear nearly as significant to me.

That said, I think you'll get your money back on ixCoin and maybe even make some.  If ixCoin ever breaks even $1 per coin then I strongly believe it will go much much higher than that.  But first there has to be a sign of real interest in the coin cause right now besides a few speculators like myself I see no widespread interest.

I mean, besides you I don't know of anyone else having bought and planning to hold ixCoins.

It would be so really super duper awesome to know what the founder is doing.  I mean he came back and now disappeared again.  He should come on here and say, hey, I've been accumulating and I hold way more coins than this vlad dude.   Something like that would go a long way to boost the confidence of crypto investors.
hero member
Activity: 812
Merit: 502
August 21, 2013, 06:16:55 AM
I'm curious how many people on here are accumulating some ixCoins.  Whether by mining or purchasing them, how many are planning to hold say at least 10,000 ixCoins as speculation?  That's hardly more than half of 1 Bitcoin.  TIA

Like I said before I have 15K that I bought in 2011 and which I still keep, but only because I've accepted the fact that it was bad investment decision. I had a small window of opportunity back then to make a profit, but I slept through it, so until I see a good reason to sell them, I'm going to keep them Smiley
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
August 20, 2013, 11:43:44 PM
The oppertunity cost is ~$0.  It can be merged mined right along side Bitcoin.  The hardware, labor and electricity would still be spent if one was only mining Bitcoin.  Nobody is mining this at a loss it is just a free bonus on top of the BTC.

To be fair, while it is low, it is not zero.  Running it takes up cpu and memory and network resources etc.



But aren't those cycles already 100% used for bitcoin?  That's how I understand it.  You get the other merge mined coins literally for free. Frankly I don't see how the same cycles can hunt and decode different mathematical puzzles without taking away from the main task, but that's what I've heard from a lot of pros on here.  

No, only the mining hashing cycles are common.  You have other cpu cycles used by the daemon still being used.  Now if you are just mining, and using a pool, those costs are born by the pool, so you will not see them directly as a pool user.


Interesting.  So then you can literally merge mine say 20 coins if they have the merge mine patch.  That would be amazing and it could turn otherwise worthless ASICS gear into real money makers.

Cause I have like 14 Jalapeños on order from BFL and its looking by the time I get them they'll be worthless.
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
August 20, 2013, 11:41:40 PM
I'm curious how many people on here are accumulating some ixCoins.  Whether by mining or purchasing them, how many are planning to hold say at least 10,000 ixCoins as speculation?  That's hardly more than half of 1 Bitcoin.  TIA
newbie
Activity: 52
Merit: 0
August 20, 2013, 11:41:30 PM
The oppertunity cost is ~$0.  It can be merged mined right along side Bitcoin.  The hardware, labor and electricity would still be spent if one was only mining Bitcoin.  Nobody is mining this at a loss it is just a free bonus on top of the BTC.

To be fair, while it is low, it is not zero.  Running it takes up cpu and memory and network resources etc.



But aren't those cycles already 100% used for bitcoin?  That's how I understand it.  You get the other merge mined coins literally for free. Frankly I don't see how the same cycles can hunt and decode different mathematical puzzles without taking away from the main task, but that's what I've heard from a lot of pros on here.  

No, only the mining hashing cycles are common.  You have other cpu cycles used by the daemon still being used.  Now if you are just mining, and using a pool, those costs are born by the pool, so you will not see them directly as a pool user.
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
August 20, 2013, 11:38:21 PM
The oppertunity cost is ~$0.  It can be merged mined right along side Bitcoin.  The hardware, labor and electricity would still be spent if one was only mining Bitcoin.  Nobody is mining this at a loss it is just a free bonus on top of the BTC.

To be fair, while it is low, it is not zero.  Running it takes up cpu and memory and network resources etc.



But aren't those cycles already 100% used for bitcoin?  That's how I understand it.  You get the other merge mined coins literally for free. Frankly I don't see how the same cycles can hunt and decode different mathematical puzzles without taking away from the main task, but that's what I've heard from a lot of pros on here.  
donator
Activity: 1218
Merit: 1079
Gerald Davis
August 20, 2013, 11:38:13 PM
The oppertunity cost is ~$0.  It can be merged mined right along side Bitcoin.  The hardware, labor and electricity would still be spent if one was only mining Bitcoin.  Nobody is mining this at a loss it is just a free bonus on top of the BTC.

To be fair, while it is low, it is not zero.  Running it takes up cpu and memory and network resources etc.


Hence the ~  Smiley
newbie
Activity: 52
Merit: 0
August 20, 2013, 11:36:30 PM
The oppertunity cost is ~$0.  It can be merged mined right along side Bitcoin.  The hardware, labor and electricity would still be spent if one was only mining Bitcoin.  Nobody is mining this at a loss it is just a free bonus on top of the BTC.

To be fair, while it is low, it is not zero.  Running it takes up cpu and memory and network resources etc.


Edit:

Ah, just noted that you said opportunity cost not cost... ok...   that would be zero when mined with bitcoin, and other mm coins, and be part of the cost of switching from them.
 
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
August 20, 2013, 11:35:12 PM
The oppertunity cost is ~$0.  It can be merged mined right along side Bitcoin.  The hardware, labor and electricity would still be spent if one was only mining Bitcoin.  Nobody is mining this at a loss it is just a free bonus on top of the BTC.


Yes, technically you're right, this is more of a hypothetical theory.  I'm trying to find a way to value coins like ixCoin but its nearly impossible.

What's your personal opinion on ixCoin?  Would you personally accumulate say 17,000 ixCoins right now just for speculation?   That's roughly 1 BTC?  I'm curious how many people see what I'm seeing or believe this could be an interesting play next year as bitcoin sky rockets and/or as we approach the final days of its mining life.

Thanks!
donator
Activity: 1218
Merit: 1079
Gerald Davis
August 20, 2013, 11:30:18 PM
The oppertunity cost is ~$0.  It can be merged mined right along side Bitcoin.  The hardware, labor and electricity would still be spent if one was only mining Bitcoin.  Nobody is mining this at a loss it is just a free bonus on top of the BTC.
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
August 20, 2013, 11:25:01 PM
I just ran the mining calc and its actually way less than it was just a few weeks ago.


Annually    2519 ixCoins    0.1473    $18.28/year    $438.00    $0.00    ($419.72)


So annually with a 2 Tera Hash rig which is nearly $30,000 in hardware and I only put in 500 watts but right now 2 Tera is closer to 6,000 watts.  2nd gen ASICS coming out soon will be cheaper and more efficient.

But one gets the picture.  In a full year of mining with a huge rig you'd get only 2519 coins and the total value right now in USD is $18.28..... For a full year of mining.

So clearly, at half a US cent per coin, ixCoin is severely undervalued.  I suppose that's one way to value a crypto coin, energy, hardware and opportunity cost to gain one coin compared to outright buying it.  Now we just have to see if the market will give it the value it deserves cause just based on this mining opportunity cost concept this coin should be worth much much more.


Below is the same hardware and energy but only mining bitcoin which has an enormous difficulty right now.


Annually    72 Bitcoins    $8,967    $438.00    $0.00    $8,528.78


So in the same year, one would gain over $8,000 in bitcoins.  So if we assign the same work and energy value, or opportunity cost, to ixCoin then that would mean ixCoin should be valued at ($8,967/2819 ixCoins) = $3.18 per ixCoin.  


This $3.18 value is simply the workload payout, the opportunity cost, and in actuality - supply and demand forces can give such a rare coin a much higher value.  Of course, the value can also be zero since there's no real intrinsic value but the way this entire industry is moving - the odds of that happening is approaching zero at an accelerated rate.

Buy now - This coin and Devcoin as well are so much cheaper than mining it.

Good luck!


Edit:

One correction:  I used 20,000 MH which is actually 20 GH and not 2 TH, but the opportunity cost principle remains the same.
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
August 20, 2013, 07:04:40 PM
Ixcoin now above 5M in difficulty and 100k Gh/s in Network.  Grin


Oh yeah, and this only the beginning.  I'm expecting a massive boom in Bitcoin and since this is a merge mined coin we should see the difficulty become ridiculous.

Actually, it already is.  With 2 Tera Hash of power you can currently mine only about 500 ixcoins per month.  So 5,000 coins in a year, which is like .25 BTC.  So why waste the electrons?  IxCoin and DEVcoin make more sense to buy than mine.  Of course you can still merge mine them but you won't get much.


This is all the more confirmation to me that coins like ixCoin are a steal at half a USD Penny or roughly 16,000 coins per $110 Bitcoin.

I've got a full 1% now, of the entire matured coins (21 million) so now I sit and wait (while trying to get a few other coins) to see if and when that Bitcoin ETF comes to life and hopefully with it will also come all the speculators.
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
August 18, 2013, 09:13:34 PM
Ixcoin  is now above 80,000 GH/sec. Never seen before.

Well, its being merge mined and bitcoin is at an all-time high of 50 million difficulty.  I expect as ASICS come online and the difficulty to skyrocket the network for bitcoin and the merge mined coins to also go a lot higher.
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
August 18, 2013, 09:12:12 PM
my ixcoin-Qt has stopped at 12045 Blocks and nothing goes on..
any hints?
TIA

Since when does ixcoin have a qt version?


Does this mean I can finally download a windows (7) version?  That would be nice.
sr. member
Activity: 574
Merit: 250
August 18, 2013, 06:53:39 PM
my ixcoin-Qt has stopped at 12045 Blocks and nothing goes on..
any hints?
TIA

Since when does ixcoin have a qt version?
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
August 18, 2013, 02:58:14 PM
my ixcoin-Qt has stopped at 12045 Blocks and nothing goes on..
any hints?
TIA

Oh oh.  Nooooooooooooo!
legendary
Activity: 2955
Merit: 1049
August 18, 2013, 02:46:25 PM
my ixcoin-Qt has stopped at 12045 Blocks and nothing goes on..
any hints?
TIA
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
August 18, 2013, 02:03:46 PM
Block already mined ~ 154250. Every block gives 96 coins, with a total of 14.8k ixcoins.
The 75% of mining will be reached with block 164063, probably within a  few months (november 2013?).


Not a lot of coins left out there.  It's already pretty difficult to buy these coins.  I can't to see what happens.  I hope it's not a dud.
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
August 16, 2013, 01:17:57 PM
Oh a happy note:  I'm now a true 1% owner of ixCoin. I finally bought just over 200,000 ixCoins.  I can't believe it took me over 2 weeks and bidding as high as 15,000 ixCoins per Bitcoin to finally get that many coins.

So I feel sorry for anyone trying to buy any real amount of ixCoins - this coin can pop so hard and fast that people will think it's Bitcoin 2.0.

Now it just needs some interest.  And I need more Bitcoins to do the same thing with a number of different coins.



Edit:

I'm adjusting my theory based on the massively liquid nature of an ETF compared to the rigid illiquid nature of Bitcoin which is only worsened by the archaic and unestablished exchanges which host the sales of Bitcoins.

My $1,000 price target for Bitcoin seems quite small the more I think about it, given Bitcoin gets its ETF.  $5,000 and potentially as high as $10,000 is absolutely probable and should actually become a reality given there has never been an ETF more liquid than the underlying asset which is represents, the way the case is with Bitcoin.

This will be like the carriage driving the horse - nobody knows how volatile and how high it can go but given the media Hype I'm expecting and the mass adoption which should quickly follow combined with investors and hedge funds piling on at the same time and then add the illiquid nature of purchasing bitcoins and you've got a perfect storm, a perfect scenario for the mother of all bubbles and the frenzy I've been saying will drive everyone to alt coins.  I would definitely be a big buyer of options if such an ETF comes out, the way I predicted it will.

I think people are definitely interested in buying a coin whose 1% is owned by you


Ahahhahahaaa.  Man, that thought never crossed my mind.   Lol, thanks for pointing that out.
legendary
Activity: 1176
Merit: 1260
May Bitcoin be touched by his Noodly Appendage
August 16, 2013, 07:42:07 AM
Oh a happy note:  I'm now a true 1% owner of ixCoin. I finally bought just over 200,000 ixCoins.  I can't believe it took me over 2 weeks and bidding as high as 15,000 ixCoins per Bitcoin to finally get that many coins.

So I feel sorry for anyone trying to buy any real amount of ixCoins - this coin can pop so hard and fast that people will think it's Bitcoin 2.0.

Now it just needs some interest.  And I need more Bitcoins to do the same thing with a number of different coins.



Edit:

I'm adjusting my theory based on the massively liquid nature of an ETF compared to the rigid illiquid nature of Bitcoin which is only worsened by the archaic and unestablished exchanges which host the sales of Bitcoins.

My $1,000 price target for Bitcoin seems quite small the more I think about it, given Bitcoin gets its ETF.  $5,000 and potentially as high as $10,000 is absolutely probable and should actually become a reality given there has never been an ETF more liquid than the underlying asset which is represents, the way the case is with Bitcoin.

This will be like the carriage driving the horse - nobody knows how volatile and how high it can go but given the media Hype I'm expecting and the mass adoption which should quickly follow combined with investors and hedge funds piling on at the same time and then add the illiquid nature of purchasing bitcoins and you've got a perfect storm, a perfect scenario for the mother of all bubbles and the frenzy I've been saying will drive everyone to alt coins.  I would definitely be a big buyer of options if such an ETF comes out, the way I predicted it will.

I think people are definitely interested in buying a coin whose 1% is owned by you
Jump to: