Topic: NobleCoin[NOBL] - 8% PoS | 1Yr+ | MARKETPLACE | PAY | GIFT | CHARITIES/MERCHANTS - page 398. (Read 1053098 times)

17 Satoshi on coinex..    i believe at this coin but now it's really hard..

You really don't follow I don't think. Backing this coin 'artificially' or otherwise on the marketplace at a 60 satoshi exchange rate is something that should be keeping us at 60 satoshi price range. It has been rewarding those who want to BUY NobleCoin (increase price and volume) and SPEND it on the Marketplace (which we hold/slow release to prevent any dramatic 'dumping'). We are embracing it. Please think about what this means and if we have to do a more detailed post we will.

Edit: OK I will tentatively release our next 'Ace' card (although to be honest we thought the Water Project, the Marketplace and now eSports promotion were all winners but ended up making zero difference in this ridiculous market). We already have a widget that will take payments for Marketplace purchases if it comes to that. The exchange rate we will be accepting will always be higher than the current exchange rate average - and it will be by more than 10% to outdo the current Marketplace deal.

We did not think it would have to come to that - but you can quote me on this. Provided the world doesn't end or cryptocurrency becomes illegal - the second a majority feel NobleCoin is dead or we are dumped and bailed on we will be pulling in further outside 'funding/investment' (call it whatever you want) and continuing with the Marketplace indefinitely. To repeat what I said earlier, the NobleCoin exchange rate we accept will CONTINUOUSLY be pushed higher than the rates accepted on exchanges. Think about what this means - it is in a way effectively backing NobleCoin with Amazon gift cards/other items on sale on the Marketplace at a rate that is better (and consistently pushed higher if circumstances allow) than the current exchange rates. That might not sound like much, but it is a damn lot more than most coins. Perhaps we are overestimating the value of such an idea, but many have already seen the value in such a system with our Marketplace. At this point I really don't know what else to give the community, this entire scene has become a little ridiculous and is all about milking short-term profit (that for the majority is ever elusive) rather than any sort of respect for cryptocurrencies and their potential value/what they could mean in the years to come.

..we sarcastically but affectionately call this the 'Phoenix' card..

Cheers..

That is a pity. This coin has one of the best community and before losing it, we have to act ASAP.
Once things left it as it is, coin will be abondoned by its community. Please people lets do sth. Thanks for the answers.

Yes it was. It changes based on the exchange rates provided to it by CoinPayments here which is linked on the shop. If CoinMarket is stuck at 60 it will display at 60, if it grabs from CoinEX but for whatever reason cannot get the exchange rate it also stays at 60. It is designed to grab both exchange rates (perhaps also Poloniex at this point) and average out the rates from all.

I think the price on the shop should change with the price volatilation of the NOBLE, simultaneously. Was it the case?

There are a number of regulars who have taken advantage of that fact and we welcomed it. To be quite honest it is baffling as to why more users didn't buy up on CoinEX in order to buy more products at an effective 60 satoshi backed exchange rate. It is testament to my reply earlier. The market can stay irrational longer than you can stay solvent pretty much applies here (although we're still fine to continue on at this point). This means we generally have to wait a couple of days, especially during weekends, for our funds to clear in order to restock.

I really fail to see how something like that should negatively affect our price. If anything it should keep it at 60 satoshi.

Thank you Mikellev. So is there any plan to stop this happening? Best.

Well, I can try.
Coinpayment did get his charts from coinmarket.io, their engine is stuck at 60 sat.
So you can buy at noble shop for 60 but just pay 20 if you bought quick. Even at 50 you made plus.
Nobleshop is out of stock with most products now.

my 2 cents......

Can someone summarise about what happened to the price? What makes it drop this much? Thank you.

IT cant be that hard to make a plugin for any shop as long its just accepting altcoin.

Yep we got word of that happening also today. Currently there are tentative talks of buyers, licensing, a plugin replacement or making CoinPayments open source for any provider/merchant. The reasoning being FinCen is cracking down harder on anyone it wants to loosely consider a 'transmitter' in the United States. I really can't presume to know how it will pan out, but there are other providers as well as manual/custom options we can explore in the meantime if a worst-case situation comes about.

Assuming Fincen is USA.

Why can't coinpayment register in another country to avoid the regulations, expensive, designed to prevent new competitors by protecting present ones.

Another example of how fecking expensive socialists regulations destroys businesses and jobs.

As usual politicians are flaming idiots.

I also need an emergency replacement CoinPayements. Otherwise, I shall not accept NobleCoin on my shop.

I said and repeated, all developers of crypto-currency MUST develop their own decentralized online shops module.

(Sorry for my bad English but I am very upset  )

Email I received earlier today:

Hello Guerilla,

It is with a heavy heart that we have to announce the closure of CoinPayments.net. FinCEN has ruled that Bitcoin is in their purview which would make us a money transmitter. We simply do not have the resources to register with FinCEN and most of the 50 states as a MSB and comply with all of the AML/KYC laws (and no realistic way to raise the funds to do so.)

The shutdown will happen in 3 stages:
1. We will stop accepting new user registrations effective immediately.
2. We will stop processing new transactions at 11:59:59 PM EST on March 24, 2014 (transactions already in progress at that time will be completed).
3. The website will otherwise remain operational until 11:59:59 PM EST on March 31st, 2014 when it will be shut down.

Any refunds due must be requested by the end of March 31st, 2014 and any funds held in your account withdrawn. Keeping the website open for a week from the last new transaction should give everyone ample time to wrap up their affairs in the site.

We extend our sincerest apologies to you and everyone else who has relied on CoinPayments for over 7 months,
MrData & pr0d1gy
CoinPayments.net

wtf ? any info on that ?

Btw I heard Coinpayments.com is shutting down on March 31. Might need to start looking for a replacement.

Thick & Thin were in and will not be dumping a single coin.
 I would also like to say i strongly believe a lot of the community here is with you rofo, very few have dumped the coin, i just think there have been few buyers at this time & lets face it it is early days yet.

good thing than that cryptsy appears to be ignoring us

Congratulations!

The times are hard for all altcoins but we are doing pretty well.
The price stabilised.
DEV is active.
Community is very supportive.

Keep the good work!

The one thing I am against is being added to Cryptsy. We definitely don't want that. Cryptsy immediately kills all the coins added to it. Just look at the charts.

Right on target!  Its human nature, biology leading the way. Im still holding but of course would love Noble to hit 10 cents in the short term,  the sky in long term.

Voted and have been moving miners around a few pools, after the pool I used from coin release sadly closed, had some dramas with no transactions showing up but still going.

Great update rofo many thanks