Topic: Nexus - Pure SHA3 + CPU/GPU + nPoS + 15 Active Innovations + More to Come - page 385. (Read 785532 times)

It's an elaborate pump and dump scheme where your hard work guarantees the dev and a few whales make out like bandits while you buy the stockpiles of worthless coins they have been preparing. But they did it very cleverly. Most people will stop reading the ANN after the mathematical Ropedope:

Oh thank goodness it's mathematically regulated rather than hamster wheel regulated or brutal dictator regulated.


At least a premine only happens once but this is worse: a Postmine lasts forever


They could have said  "Confirm Time: 60 seconds" but obviously this was all intended to daze and confuse those the devs consider intellectually gullible and inferior (i.e. You and I)

Then you enter the psychological infomercial:
                   --------------------------------------           ---------------------------------
The Problem: |     Too many coins are worthless.        |        |         Tough dirt and stains.      |
                  |-------------------------------------- |         ---------------------------------
The solution: |Buy the most worthless coins and make |        | Use OxyClean With Scrubbing     |
                  |the shitcoin devs and bagholders rich]   |        | Bubble Super Nano Technology   |
                   ---------------------------------------         |--------------------------------|
                  | Your mining pays Devs a % per block & |        |                                             |
How it works:|also buys their worthless shitcoin bags  |        |                  (bleach)                |            
                   --------------------------------------           ---------------------------------
                  |                                                      |        |                                             |
Verdict:        |       Its a win win for the devs!           |        |    My underwear is less yellow    |  
                    --------------------------------------          ---------------------------------

Yes you are correct [well mostly], to clarify the process a little further, here is some [optional] detail:

Registration is only for coinshieldtalk.org, which is where the petitions are started. From there, the voting channel will be on the main site which will not require login, it will be regulated per IP. As for the exchange into an active channel, you will be supplied a deposit address, and will then deposit coins to that address. Once the system receives your transaction, you will receive a transaction of CSD to your deposit address. Keep in mind directly after the SHIT hits your supplied deposit address, it will be immediately transfered to the Exchange Deposit Address for Verification [this address will never change once channel is opened, but there may be more than one if the SHIT is on more than one exchange].

Your user account for the Coinshield Channels will be your CSD deposit address, no password because incentive to hack is none as you control your CSD deposit address. Personal stats for your channel will be added as the system gets developed, which is being programmed from scratch [By Me]. The channels will operate on our own Encrypted Database Server [coded by me], which I am planning on releasing open source when the timing is correct.

Hope this helps,
~Videlicet

Just checking my understanding: in this context "users" are registered users of the coinshield.org forum?

Cheers,

Graham

it's now OUR shit absorption =)

thanks! good luck with your shit absortion

As a followup:

The CSD will only be given under value for a few trades at initial channel opening, this will help to reward those that have been patiently watching the channels. The value of CSD will be increasing as this is happening [BTC Buy Walls], so you can ensure you aren't holding the bag of shit, as CSD will be absorbing the market cap of the said [shit]coin.

As for the buy orders, that will be taken into account with the decay equation regulating the trade value of channel, so that CSD is not negatively effected by any destruction of a shitcoin. The decay equations purpose is to accurately reflect the value of CSD/SHIT as the SHIT economy is crashing.

By the way gatra, I love your code in Reicoin

~Videlicet

Coinshield trade channels will use a highly advanced trade algorithm. It will take into account several factors, including value of both coins and the current buy orders of the shitcoin, as well as how many of the total supply we have already traded in and dumped. As we dump more of the coin it will decrease in value and the BTC that is generated will be automatically used to build buy walls (increase CSD value) which in turn will cause future trade in offers/value to be lower then the ones prior. This is just a brief outline on how it will work, Videlicet will explain more about this when he returns.

We will be starting at 0. Anyone can submit a petition. If the community agrees with you and supports your petition then the coin is deemed a shitcoin and will be put to into our voting system. From there the worst shitcoin (the coin with the most votes) will get its own trade channel. Coinshield will then begin to absorb their economy and destroy the coin.

Very excited about Coin Shield!  Everybody check out their forum...it's really nice.

Could you outline the starting position - are you starting from 0 and accepting petitions or do you already have a candidate list by any chance? If the latter, could you please publish your criteria?

Cheers

Graham

mmm.... I still don't understand [A].... why would the value be higher? who would give me more than market value for my shit and why? If it's true that I could be freed of my shit with profit, then maybe I should buy shit! it doesn't make much sense. If you are giving away CSD for shit, then wouldn't the value of CSD be as low as shit?

Be careful: for most shitty shit, there may not be enough buy orders to allow you to sell all your shit. So instead of getting BTC to buy CSD, you could end up holding a bag of shit.

Very good information my friend, and much appreciated. Now it seems both of these hashing functions are very energy efficient, and I am starting to think about combining these two algorithms, and maybe one more of the same efficiency, to develop an energy efficient, ASIC/FPGA resistant GPU algorithm. Any other hashing functions that you know of that have similar effects of skein and groestl?

~Videlicet

I am looking for reputable sources for my claims but skein has a much higher hashrate with less energy than scrypt and grostl is less higher hash but much more energy efficient. If I can't find solid proof in these fourms today then I will do a quick test tonight to double check. Memory serves using the python skein miner my 270x never broke 50C though... I mean it was a mind blowing difference on heat generated.

Interesting...Great Coin.I am in and wating for this coin.

Why would anyone mine a coin? To get a piece of the action. What is offered to the community is a voice, and a movement in which everyone can direct their efforts in a coordinated manner to clean up the marketplace. I am the one doing all the programming, so any more questions I'll be happy to answer. The biggest thing Coinshield has that every other coin doesn't, is a purpose. Now it has a function in the community, just like anything of innovation should have. Even some coins that do have programmed innovation generally only stop there. The new innovations are going to come in the form of what is necessary for the growth and fruition of Bitcoin, and others Alike.

EDIT: No IPO, really puts on a bad name =/ this is only because it has been a targeted vector for scams, otherwise is a beautiful part of the free market [successfully implemented in a system with a pinch of regulation].


What are advantages / comparisons between skein or groestl and any other GPU algorithm?

[Explain More] So we can all know

~Videlicet

I love the use of 'shitcoin' in the op and this is an interesting idea.

As for GPU algos, why not skein or groestl?

Is there any IPO here? What new does your project offer to us and why would anyone mine the coins?

You know 3 years ago, people said the same about Bitcoin
Time will tell my friend, as it did for Bitcoin.

~Videlicet

A new shitcoin created to destroy shitcoins, that's priceless

There are several problems with this new coin : trust, centralization and lifespan.
what will happen when devs decide to leave project?

good coin ??