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Topic: New Ixcoin fork -> I0coin (Read 217126 times)

legendary
Activity: 2940
Merit: 1090
September 24, 2024, 07:29:48 PM
You forget the second reason for currency issuance.  Your currency has no value if people can't acquire it to pay you.  The nominal value of currency is immaterial.  Bitcoin could have been designed on the concept of entire monetary supply = 1 BTC. and each of the block rewards being 0.0000025 BTC each.  Today the price of the single BTC would be ~$18 million.

Bitcoin would still have the same rate of monetary inflation.  If you want to change the growth in the money supply you need to change the slope of the curve not the nominal value.

Cutting a block reward from 48 to 1 certainly does change the curve but there is no free lunch.  You are simply stealing buying power from future miners to increase the buying power of you pre-mined coins.

If I had the option.  I wish 100% of the coins were pre-mined and the future mine rate was 0 per block.  Suppose someone created a coin with 100,000,000 pre-mined.  The owner of those 100,000,000 want to see the economy grow to make his coins worth more.  That coin would be worth nothing.   Then suppose he put some up for auction maybe 1,000,000 for $1.  A couple nerds buy.  Then a couple nerds set-up a business to do some programming for some coin.  Before you know it it gets on an exchange and it starts to have value.  maybe 0.0034 per BTC.  Suppose it seems to be traded FBX or TBX.   Each of these coins still trades 20 times a day at btc-e.  At this point all new mining hurts the price of the coin.  Without the mining the price would only be dependent on the number of users and trades.  Owners of coin like to see their coin go up.  If they don't think it will go up, they will sell it, only using the coin fiand when they need to.  I think I read an article where a Howard Johnson hotel accepted bitcoin as payment, but when they got the payment they immediately sold the bitcoin for usd.   They had no faith in the currency.   A dropping currency is sold and a rising currency is bought.  Suppose after a couple years the coin is now worth 2.3 BTC per coin.  Since the price rose, the people will want to hold it to delay gratification or to pool money to buy a larger ticket item.  

This is what happen to bitcoin.  The price hit $2 and since the price was rising people wanted it.  it rose to $20 due to supply and demand.  At that point the miners were making as much as the new money coming in.  When the hype money slowed the price of bitcoin dropped.  transactions per day slowed.  As it dropped, it dropped more and more as people sold due to the dropping price and the new mined coins added to the supply.  When it hit $2, new and old buyers came in and started buying again to equal the new mined supply.

Congratulations on having way back then intuited the utility of several of the Galactic Milieu currencies including UKB, CDN, MBC, GMC, GRC NKL and UNS (the "big seven" Galactic currencies).

I get the impression though that you were not at that time aware of their existence?

Or maybe you just were not aware that they exhibit the characteristics you were arguing in favour of?

You even might have helped in the above quote to lead me to trying to convince them to give up their old blockchain based clients (clones of bitcoin which for each of their currencies implemented their currency instead of testnet, so they could use the same executables for bitcoin or for their own currency just as normally with bitcoin clients one could use them for bitcoin or for bitcoin's testnet) in favour of using tokens: see the later in this same thread https://bitcointalksearch.org/topic/m.638370

In the intervening years the idea I had then (distribute someday a blockchain currency by giving it out to the holders of the token) has not yet been needed in the Milieu but we nowadays see it happening a lot with projects first using a token then later launching a blockchain.

Seminal thoughts indeed it seems, re-reading these old threads has been very worthwhile. Smiley

-MarkM-
legendary
Activity: 2940
Merit: 1090
September 24, 2024, 04:56:05 PM

Nowadays tracing bitcoin addresses and stolen bitcoins is a whole industry, did that industry ever or yet illuminate what happened to the below-referenced missing bitcoins?:

Once again there was another double spend attempt on the exchange. The exchange closed block chain processing when it happened. As a result of these continued attacks I've had to close the exchange. As it says from the main page:
Quote
Deposits for I0Coin and Bitcoin have been suspended, along with trading. Due to low network power of the I0Coin chain over the last couple of weeks there have been attempts to do 51% double spend attacks. The exchange would stop processing the block chain when these were detected and users will have noticed this, as deposits/withdrawals were suspended while I investigate. I'd then re-open with a higher deposit confirmation limit.

Some of the double spends were successful and a total of 198 bitcoins were successfully taken from the exchange. This involved anonymous users operating over TOR depositing I0Coins, trading for bitcoins, withdrawing the bitcoins and reversing the original deposit.

Due to this loss and the risk involved in continuing to operating an exchange for a chain which has, or can easily get, an attacker with >51% of the power, I've closed the exchange. Please withdraw all bitcoins and I0Coins before 31 Oct 2011 12:00 UTC. You can reach the exchange operator at [email protected] if you have any questions. It's unfortunate that the actions of a few have to stop the exchange usage for many honest users.
The basic approach from the attacking user was to deposit about 120,000 I0Coins, sell them, withdraw the BTC then invalidate/remove the original deposit. All the successful attacks (totaling 198 bitcoins or so) were done by a user operating over TOR. The user used accounts with names like:
* youdozeek
* mooncoin
* ploti
* adolf
* mojimcheo

The bitcoin addresses that were withdraw too were:

* 13kf6BR32STEuW7FSKVbM3WNUcF6nqcP3q
* 1H3Zx5a7fTWnpt8pfZnwekQzQYb4497vWb
* 1AKxgg8jESUvooeHtNvaSQYhbPCyv7wYZF
* 1G8XACmUXoTF3FaA5bATSD3fnSR2WQXVJH
* 1PoUHcuTqoSiKupYzkQUbPHE4SwTPBT9Ht

If you were one of these users and don't believe you did a deliberate double spend, please get in touch.

-MarkM-
full member
Activity: 286
Merit: 100
December 24, 2015, 06:16:17 PM

I0coin 0.11.9

For those who haven't heard yet, there is a new I0coin client - version 0.11.9.  Download source or executables at izerocoin.org.  Please upgrade to ensure you stay on the main block chain.

legendary
Activity: 2940
Merit: 1090
October 24, 2015, 11:44:37 PM
By the way I checked my I0Coin's listtransactions and saw that Vircurex has in fact sent me my 18,000+ I0Coins.

-MarkM-
legendary
Activity: 2940
Merit: 1090
September 24, 2015, 12:56:02 AM
Ah but I consider 10,000 way too low for IXCoin, even long long ago it was over 16,000 so anything less than that I consider underpriced.

Sure I expect IXCoin to rise higher than I0Coin, but that does not mean I should price I0Coin much lower than IXCoin, rather it just means I should be pricing IXCoin much higher than I0Coin. Smiley

The only reason I am selling any IXCoin for less than 16,000 satoshis is people are selling them to me even cheaper and I keep putting what I buy back onto the sell side to gradually grow it back up to where it ought to be...

So lets target 10,000+ for I0Coin and 20,000+ for IXCoin, eh? Smiley

I am just typing in my initial builds of the order-books so far, once people start buying from me and selling to me I will be able to tighten the gap between buy and sell.

I0Coin and IXCoin used to both be 16,000 to 18,000 or more once upon a time, so I want to at least build my sell side up to that kind of range before considering lowering its bottom end, as I don't want to not have sells sitting waiting when a big pump skyrockets the thing, its a pain when a coin skyrockets up higher than where you already have sell offers waiting...

Remember there are no more IXCoins being made, and damn few I0Coins. Both are still on the mmpool merged mining pool, and pools that dropped them will change their minds no doubt once the price goes back up or if the volume gets large. Though I don't much care about volume, more important to me is depth aka liquidity, as long as one could buy or sell a huge number if one chose to, whether anyone actually does it not important, since most transactions can very well happen off-chain, we just need one exchange somewhere that establishes a price so people can create conversion tables to convert to and from other currencies off-chain.

I would not be surprised if some people whose debts are denominated in IXCoin and/or I0Coin have been dumping the coins on exchanges to lower the exchange rate then paying their thus-effectively-reduced debts in some other currency thanks to the use of exchange-rate-tables ( such as the one at http://galaxies.mygamesonline.org/latestrates.inc ) by the lending institutions. I expect this should eventually cause the lending institutions to either insist on the debts being paid directly in the currency in which they are denominated or to start buying the coins in which they have debtors so as to keep the exchange-rates up...

-MarkM-
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
September 24, 2015, 12:30:20 AM

Good luck buying I0Coins for only 3000 satoshis. I still consider anything less than ten thousand a bargain...

-MarkM-


Seriously, iXCoin has the biggest partners and a board full of the biggest players in crypto and the 2nd most secured alt-coin and it can be bought now for under 6,000 sat.  Why would a coin which has been dropped by merge miners and has no one supporting it or backing it and has not even one decent exchange trading it be worth double the price of IXC. 

Historically i0 has always been trading for only a fraction of IXC - only recently it had a run and it matched IXC's price.  I think paying half price of IXC is fair but obviously the fair price of anything is that which the market will bear.

If anyone is interested I'll raise the price to 4,000 sat.

Cheers!
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
September 24, 2015, 12:25:41 AM


Have you had any takers?



None.  I'm offering 50% over market price and nothing.  Odd.
legendary
Activity: 2940
Merit: 1090
September 24, 2015, 12:14:31 AM
Aha, I finally managed to create deposit addresses on Cryptopia, have sent coins in, soon I should be able to start building nice deep order-books for I0Coin there...

Meaning for example on the buy side an order to buy 100 I0Coins at each satoshi of price from 1 satoshi on upwards...

On the sell side probably an order to sell 100 I0Coins at each 5 satoshis of price from 10,000 satoshis on upwards...

-MarkM-
legendary
Activity: 2940
Merit: 1090
September 23, 2015, 11:58:32 PM
I created an account at Cryptopia and tried to generate an I0Coin address to deposit to but it fails to generate an address.

So it looks like one cannot actually deposit I0Coins there.

Heck I just tried to generate a bitcoin address there and it fails too.

So much for Cryptopia, an exchange that actually works would be nice to have...

Good luck buying I0Coins for only 3000 satoshis. I still consider anything less than ten thousand a bargain...

-MarkM-
newbie
Activity: 33
Merit: 0
September 23, 2015, 09:28:49 PM


Our main thread is here
https://bitcointalk.org/index.php?topic=624935.0;topicseen

I0coin is now trading on Cryptopia
https://www.cryptopia.co.nz/Exchange?market=I0C_BTC

You're right it's a very good price, but probably not for much longer.  Stock up while you can.



Thanks.  It's at 2,000 sat.  I'll pay 3,000 sat if anyone is interested.
Thx

have you had any takers?
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
September 21, 2015, 10:06:12 AM


Our main thread is here
https://bitcointalk.org/index.php?topic=624935.0;topicseen

I0coin is now trading on Cryptopia
https://www.cryptopia.co.nz/Exchange?market=I0C_BTC

You're right it's a very good price, but probably not for much longer.  Stock up while you can.



Thanks.  It's at 2,000 sat.  I'll pay 3,000 sat if anyone is interested.
Thx
newbie
Activity: 37
Merit: 0
September 21, 2015, 10:03:26 AM
Is this the official thread for i0Coin?

I noticed vircurex dropped the coin from trading and f2pool dropped the mining so i0 has been left for dead.

I like nearly dead coins.

So is anybody interested in selling some i0?

I need about a week to get the money but I would like to buy at least 100,000 coins.

Please send me a PM if you're interested.

Cheers!


Our main thread is here
https://bitcointalk.org/index.php?topic=624935.0;topicseen

I0coin is now trading on Cryptopia
https://www.cryptopia.co.nz/Exchange?market=I0C_BTC

You're right it's a very good price, but probably not for much longer.  Stock up while you can.

legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
September 21, 2015, 09:41:49 AM
"New Ixcoin fork -> I0coin"
is it still new?


Hahaha.  That's funny.
legendary
Activity: 1470
Merit: 1010
Join The Blockchain Revolution In Logistics
September 21, 2015, 07:28:41 AM
"New Ixcoin fork -> I0coin"
is it still new?
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
September 21, 2015, 03:39:31 AM


Well, IXC is still highly secured and actively trading and it's at 6,000 sat.

Given the higher risk and no active trading for i0 I was thinking half the IXC bid would be fair market price so around 3,000 sat.

If i can get the money I'll be more flexible cause right now I own ZERO coins and I feel like I should own some.

Let me know...
legendary
Activity: 2940
Merit: 1090
September 21, 2015, 03:21:38 AM
Vircurex screwed up, yeah. I0Coin is not dead, but the last bitcoins I sent to Vircurex, back in January or February, have still not arrived there and they still have not responded to emails about it.

I cancelled all my IXCoin and I0Coin offers there but my last withdraw of I0Coins from there failed and who knows if they will fix that before they remove the withdraw option? So it looks likely they plan to steal I0Coins though dunno where they plan to sell the stolen coins.

Both I0Coin and IXCoin were on a long term rise until Vircurex screwed them both by preventing deposit of bitcoins with which to buy the coins.

I am still trying to get the latest versions of Open Transactions working so I can get my Open Transactions server accessible to folks again without their having to already have an ancient version on their systems, I am also looking into a so called distributed exchange system, which should work with I0Coin (though maybe not IXCoin) because I0Coin supports multi-signature addresses.

I was paying over 10,000 satoshis per coin for I0Coins and IXCoins by the time vircurex decided to screw them by not letting me deposit bitcoins to buy them with, how much were you thinking of paying for I0Coins?

-MarkM-
legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
September 21, 2015, 02:47:02 AM
Is this the official thread for i0Coin?

I noticed vircurex dropped the coin from trading and f2pool dropped the mining so i0 has been left for dead.

I like nearly dead coins.

So is anybody interested in selling some i0?

I need about a week to get the money but I would like to buy at least 100,000 coins.

Please send me a PM if you're interested.

Cheers!
full member
Activity: 286
Merit: 100
June 28, 2014, 12:39:24 AM

You mean besides the 3 times i0Coin died?

Joking Around guys, I see your point but it looks like some very powerful people have already chosen iXcoin.  Maybe it's time to join the VladFest.

Cheers!


I know you're mostly joking, but for the record I0coin didn't really die 3 times.  You could say it died once, but that's it.  It went down to probably just two or three clients mining.  It "died" because the client was using too much memory so all pools stopped mining it.  There was a failed attempt at a version 0.6 client, but it was never adopted by the pools because the merged mining didn't work.   That was fixed in Aug-2013.  Now I0coin is super stable, and from what I've read, iXcoin is based on the 0.8 version of I0coin.  So iXcoin coin actually owes I0coin for its latest stable update.
newbie
Activity: 18
Merit: 0
June 27, 2014, 11:06:07 PM

Do you guys have a block explorer?  I can't find one.

Thanks.

i0coin is just two rows up from ixcoin at http://altexplorer.net/

legendary
Activity: 3052
Merit: 1534
www.ixcoin.net
June 27, 2014, 09:11:58 PM



Do you guys have a block explorer?  I can't find one.

Thanks.
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