Topic: rpietila Altcoin Observer - page 28. (Read 387457 times)

it becomes an inheritance. seriously, if this is the only attack, we are in great shape!

XMR has been stable for a while, and in crypo a long period of a stable price usually means a spike is coming.

Fair enough, I would agree that the long-term value proposition is shaky, but I think it's a great mid-term hold (2-6 months)

What draws me to QRK is the fact that the total supply (247 Million) has already been mined and only 1 Million per year will be released to incentivize the network and anyone mining this will be doing so at a loss until the price starts to rise.

For me - a small fish investor, I can't help but get in on the pump!

I have to say that I became interested in Quark due to the user digitalindustry promoting it. Unfortunately my conclusions do not support investing into it, since the research confirmed my earlier belief that it is a p&d-coin with a small early community of large holders, a somewhat large "community" of bagholders from the last year's pump, and the coin is in many ways not even secure

Details.

I am not saying whether it is a good pump now or not, but the long-term value of the coin is zero.

Sending out long-term buy signals on Quark (QRK) right now...

https://twitter.com/thefunkybits/status/511412806647046144

I reiterated my previous proposal for matching exchanges in BTC/ALT trade.

By checking the link, you have all the information required to make this happen in your favorite alt
- in a week,
- no coding skills or investments (except your time) are required, and the
- result will make the alt's in question liquidity go up in the factor of 5x-10x when the largest holders have joined the system.

The incentive for them to join is
- negative trading fees,
- increased liquidity of their investment, and
- 90-95% less funds at a systemic counterparty risk compared to trading in an exchange that has 100% guarantee requirement of customer assets (all 24/7 exchanges except ones with leverage).

Here is the one-week resolution chart for Litecoin vs Yuan from the liquid OKCoin exchange. Note that the rightmost candle, which just started its week, is relatively close to the resistance line that I drew from the December 2013 peak. It would be notable if LTC punches up through this trendline as did Dogecoin recently.

Yes, I agree. That seems to be the case. He's very passionate about his views and often gets off track with long anti-authoritarian rants and tirades against fiat. lol

He seems to view superNET as a way to get the world away from fiat. "Unite disparate cryptocurrencies by fostering collaboration" is how he puts it. Makes sense, I hope the technological part can come together.

Based on jl777's posts, I think jl777's motivations are primarily ideological, not financial

note: I am invested in jl777 projects

Anoncoin is releasing their implentation of Zerocoin in little over a month


There have been some price action following this announcement

http://coinmarketcap.com/currencies/anoncoin/#charts

Este Nuno, thanks for your posting btw.


Code is easy to produce. Good code is hard to produce. Good code is useless if the concepts behind it are flawed.

Let's reduce the case of superNET to a simple example. Two altcoins, alt1 and alt2. SuperNET claims that I can use it to send coins from alt1 to alt2 and vice versa, right?
A few questions regarding this:

• how are the ledgers between alt1 and alt2 linked?
• how is the exchange rate of alt1 vs. alt2 determined?
• how do they prevent flaws from alt1 influencing alt2 (or the whole network)?

So, what I miss is a clear description of the cryptographic concepts behind it. And everytime I ask about it, people either answer "the idea is so awesome!!!" or "we use JSON/REST and Teleport whatever!". 


That's true.

I think that is my main issue (I probably explained it badly before): all explanations either high-level and very broad, or descend into irrelevant technical details.
I haven't yet seen a usable explanation (whitepaper or the like) on how this coin-connecting network will work.

What about an emission based on the s-curve of adotion?



1) very few coins exist and can be mined. the devs maily mine to test the coin. If they want, they can choose to not make this phase public. The coins mined in this phase are the reward for the devs.
2) coin goes public. people try the coin and learn about the new technology.
3) people know that the inflation will go up soon and try to anticipate the coming monetary inflation by creating awareness of the coin. Big (professional) miners jump in
4) more and more people learn the existance of the coin, buy some, maybe mine some. only 50% of the total coins are in existence
5) the people who are risk averse now adopt the coin, they buy small amounts
6) the new coin is adopted by the community
7) coin is now mainstream. No more inflation

This emission will ensure, in my optinion, that the coin will have a relatively stable growth in exchange rate.

I beg you to use the almighty ignore button and stop quoting that troll. Please.

Shut up and go away. 

Thanks.

Complete bullshit, jl777 has now collected over 27000000 NXT (that's 2100 BTC or over 1 MILLION US DOLLARS) from selling the shady TOKEN assets in his NXT account to that only he, I repeat, ONLY HE HIMSELF has access.

http://www.nxtreporting.com/?ac=NXT-MRBN-8DFH-PFMK-A4DBM

He has this amount and can run away at any given time, unexpectedly and suddenly. Don't dare to state fairytales. He said his aim is 10000 BTC so don't expect him to run away before that date (I don't). *Mark my words*, once 10k BTC is full jl777 is going to be *vanished*. You SuperNET cult members will all cry like little babies then mourning for your losses that will never come back because the smart one took it. Do people ever learn? Do they ever learn? It's horrendous...

Based on my (very limited) understanding on all of this.  The angle here is that jl777 owns many / most of the assets being aggregated into the SuperNET fund.  By combining and selling the assets in a single commodity - he's creating much more demand for his assets that had a much lower demand and price previously.

I'm not saying there's anything wrong with this.  Just that that seems to be the "angle" to me.  The term "network" has created a demand for assets he held that previously didn't have much demand.

People are rapidly learning in crypto that the shortest route to big bucks is controlled supply + increased demand.

Too bad there is no multisig in NXT yet, it is scheduled for later this year.
Yeah, if his plan is to run, he will do it very soon, won't take long to wait what happens.

One thing I want to point out quickly regarding the chance that jl777 is pulling some sort of scam(I posted something similar in another thread):

The superNET funds are going to be held in distributed escrow. And it's actually worked out right now, due to the quickness of the launch that James currently holds a very large amount of NXT. And this amount of money is currently more then he's ever likely to hold again during the course of the project. So if his plan was to scam a large sum of money he's either going to do in with in the next few days or he's not going to at all. I think it's pretty clear that he's not going to do it at this point. The window of opportunity for him to scam is closing rapidly.

I've done a fair amount of reading in to the project and watched the way he handles issues related to money and I'm pretty confident that he's legit.

The biggest issue is finding people that can be trusted to escrow large amounts of money. I believe he intends to make extensive use of multisig so that might help in that regard.

It seems like a lot of people tend to get the impression that he's running some sort of con when they first encounter him and his writings. And I can kind of see why considering the amounts of money we're talking about and the causal way he talks about it(edit: his approach to securing the money though isn't casual). But I've also not encountered anyone yet who's spent the time to fully familiarize themselves with what he's doing and still hold that opinion. If this thing was intended to be a scam then he's failed miserably at it because I'm fairly certain that he could have easily arranged the situation to be one where he held nearly all the funds raised for the project. It doesn't really add up so far.

It's still possible of course that we're dealing with some sort of ultra-intelligent sociopath who's planning on pulling a Gox level scam down the road and this is just him laying the ground work. The thing about that is we would never be able to tell the difference anyway at this point and you could say the same about anyone who appears to be honestly running any large project. I doubt that is the case though personally.

Exactly this +1. 

Good ideas, such as cryptocurrency, benefit everyone - holders and non-holders alike!