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Topic: Thoughts on Max Keiser's coin (Maxcoin) - page 9. (Read 15381 times)

sr. member
Activity: 294
Merit: 250
February 09, 2014, 08:11:32 PM
One of the devs just posted this info about the Maxcoin launch:

Quote
I agree that Max's approach can rub people up the wrong way but that's his style; love it or hate it.

To correct some misconceptions about the launch:

It was a mess and we own up to that.
It was not intentionally so chaotic.
The devs have made no money out of MaxCoin (we've actually lost money right now in server costs).
Max provided no funding to the dev team and to my knowledge had no advantage over any other miner (excluding his financial resources of course)
We had every intention of having GUI wallets available for all all clients at launch as well as a CGMiner port (we planned originally to release this on day 2 to allow people to CPU mine first but it became apparent that the community were going to beat us to it so we put resources into developing one but proved unsuccessful due to time and competing priorities), stratum port and p2pool port.
The above was not possible due to time and resources constraints and it was decided that it would be better to launch as was than delay and upset the community.
In hindsight it was the wrong move to release when we did and we should have delayed but hindsight is 20/20 as they say.

This above is my take on things personally and doesn't reflect the opinions of the entire dev team or Max himself. A comprehensive statement explaining and apologising the launch will come hopefully tomorrow.

I can only apologise if people feel cheated and or let down by the launch. We all hope to do better in the future.
 http://www.reddit.com/r/maxcoinproject/comments/1xgo7a/the_launch_wasnt_for_crypto_cry_babies_cowboy_up/cfbany3
sr. member
Activity: 294
Merit: 250
February 09, 2014, 07:32:36 PM
It would seem Maxcoin will be pretty ASIC proof due to this built-in feature:

Quote
The coin has inbuilt algorithm changing so if someone was to build an ASIC the devs would simply change the algorithm and they would be rendered useless.

Posted by the Maxcoin devs http://www.reddit.com/r/maxcoinproject/comments/1xh1xl/the_maxcoin_advantage/cfba4hy
sr. member
Activity: 294
Merit: 250
February 09, 2014, 07:25:28 PM
being a noob and voyeur of cryptocurrencies (who has basically just tried out of the mechanics in the past, I decided over the past two weeks to check out some of the new releases.  MaxCoin was a colossal fail launch imo.  The couple of other new coins I tried in the same period (that had less hype) worked pretty smoothly.  I was able to get them working and mine some with a pool (and pretty much on the noob end of the spectrum).  

MaxCoin imho is poster child why project managers and business/system analysts are valuable in the tech world (i.e. poor communications, planning, and thinking through user scenarios).



People need to look beyond the launch. There is big potential in coin regardless of how launch went. Those who ignore this will kick themselves in a few weeks-months.

you may well be right.  I am just a noob/novice.  I looked at 5 coins that were pretty much new.

2) I was able to get going
2) were okay, a little clunky
1) was a total piece of chit

I personally would like to see the 2 that did a decent job and communicated well be successful in the long run.  but, that is not how things work out sometimes.

Yeah, thing is this coin has huge advantage over other crappy no name coins out there. People will soon discover it themselves regardless of how many crypto babies bitched about the launch.
newbie
Activity: 2
Merit: 0
February 09, 2014, 07:22:20 PM
being a noob and voyeur of cryptocurrencies (who has basically just tried out of the mechanics in the past, I decided over the past two weeks to check out some of the new releases.  MaxCoin was a colossal fail launch imo.  The couple of other new coins I tried in the same period (that had less hype) worked pretty smoothly.  I was able to get them working and mine some with a pool (and pretty much on the noob end of the spectrum).  

MaxCoin imho is poster child why project managers and business/system analysts are valuable in the tech world (i.e. poor communications, planning, and thinking through user scenarios).



People need to look beyond the launch. There is big potential in coin regardless of how launch went. Those who ignore this will kick themselves in a few weeks-months.

you may well be right.  I am just a noob/novice.  I looked at 5 coins that were pretty much new.

2) I was able to get going
2) were okay, a little clunky
1) was a total piece of chit

I personally would like to see the 2 that did a decent job and communicated well be successful in the long run.  but, that is not how things work out sometimes.
sr. member
Activity: 294
Merit: 250
February 09, 2014, 07:17:54 PM
being a noob and voyeur of cryptocurrencies (who has basically just tried out of the mechanics in the past, I decided over the past two weeks to check out some of the new releases.  MaxCoin was a colossal fail launch imo.  The couple of other new coins I tried in the same period (that had less hype) worked pretty smoothly.  I was able to get them working and mine some with a pool (and pretty much on the noob end of the spectrum).  

MaxCoin imho is poster child why project managers and business/system analysts are valuable in the tech world (i.e. poor communications, planning, and thinking through user scenarios).



People need to look beyond the launch. There is big potential in coin regardless of how launch went. Those who ignore this will kick themselves in a few weeks-months.
newbie
Activity: 2
Merit: 0
February 09, 2014, 07:13:56 PM
being a noob and voyeur of cryptocurrencies (who has basically just tried out of the mechanics in the past, I decided over the past two weeks to check out some of the new releases.  MaxCoin was a colossal fail launch imo.  The couple of other new coins I tried in the same period (that had less hype) worked pretty smoothly.  I was able to get them working and mine some with a pool (and pretty much on the noob end of the spectrum). 

MaxCoin imho is poster child why project managers and business/system analysts are valuable in the tech world (i.e. poor communications, planning, and thinking through user scenarios).

sr. member
Activity: 294
Merit: 250
February 09, 2014, 06:36:43 PM
Quote
Stacy Herbert
@stacyherbert
 #maxcoin volume today at mxcnow: Volume: 503392.0 MAX / 1266.0 BTC
10 Feb
sr. member
Activity: 294
Merit: 250
February 09, 2014, 06:23:15 PM
it's not asic proof.. they could be made.

also i don't blame Max so much for this as i do all of you reading this..
he seen this altcoin scene and joined in, simple as that.
blame yourselves for supporting all these shitcoins period .

i challenge one of you bashing Maxcoin to deny NOT supporting one of the other shit coin clones.. you can't !

they keep making them because you keep buying.. don;t blame Max for that.. look in the mirror

i see some pretty hypocritical dumb ass noob babble, like today some little douche said,
Maxcoin was better because it's based on a person rather than a dog.
uhhhh what ? lol

Pool op's and exchanges fumble over themselves to add coins and you all flash mine them hard and bitch while your doing it lol
But it's about a free market blah blah blah lol
But i made 1 bitcoin blah blah blah blah
But BUT BUT...

Yeah but there aren't any ASICs that can mine this coin atm and none in the pipeline either, while Scrypt ASICs are almost here, you can already pre-order them.

I see a few things going for this coin:

1. Sha-3 mining algo, which is not the standard Sha-2 or Scrypt.

2. Max Keiser behind the coin as big media personality.

3. Max Keiser's financial expertize, knowledge of cryptos and filthy rich friends that can jump in the bandwagon.

4. Since Max Keiser is also an investor in Bitcoin businesses like Bitpay, he will financially support the project to increase adoption and create the infrastructure.

5. Efficient mining with Nvidia cards.

Coins like Megacoin and many others among top 20 by market cap don't have any of these advantages. It has big upside from these levels.
legendary
Activity: 1540
Merit: 1011
FUD Philanthropist™
February 09, 2014, 06:11:19 PM
it's not asic proof.. they could be made.

also i don't blame Max so much for this as i do all of you reading this..
he seen this altcoin scene and joined in, simple as that.
blame yourselves for supporting all these shitcoins period .

i challenge one of you bashing Maxcoin to deny NOT supporting one of the other shit coin clones.. you can't !

they keep making them because you keep buying.. don;t blame Max for that.. look in the mirror

i see some pretty hypocritical dumb ass noob babble, like today some little douche said,
Maxcoin was better because it's based on a person rather than a dog.
uhhhh what ? lol

Pool op's and exchanges fumble over themselves to add coins and you all flash mine them hard and bitch while your doing it lol
But it's about a free market blah blah blah lol
But i made 1 bitcoin blah blah blah blah
But BUT BUT...
sr. member
Activity: 294
Merit: 250
February 09, 2014, 06:06:39 PM
Just another attempt to use some ones name to boost publicity. Pretty sad really.. Whos making the Alex Jones coin to complete the crazy train?

So far developers moved fast to list this coin on few exchanges and Bittylicious. Would seem things are speeding up for Maxcoin.

Max is also a financial guy who's not a strange to cryptos and trading. He also has several important investments in this space in companies like Bitpay.
newbie
Activity: 32
Merit: 0
February 09, 2014, 06:03:53 PM
Just another attempt to use some ones name to boost publicity. Pretty sad really.. Whos making the Alex Jones coin to complete the crazy train?
sr. member
Activity: 294
Merit: 250
February 09, 2014, 06:01:43 PM
sr. member
Activity: 294
Merit: 250
February 09, 2014, 05:49:43 PM
Quote
Max Keiser
@maxkeiser
 @NHLaundryKing The launch wasn't for crypto cry babies, cowboy up weenie.

 9 Feb 14
sr. member
Activity: 294
Merit: 250
February 09, 2014, 05:41:55 PM
#99
Launch was more than terrible with GPU miners from the start

from the perspective of a lot of nVidia card owners, this was an excellent launch. Having a small nVidia farm myself, I cannot complain. We had a 30 hour head start over OpenCL mining software optimized for AMD.

I am the programmer who implemented keccak into cudaminer, but I was only able to pull it off because the maxcoinproject delayed the launch for 24 hours and the maxcoin-cpuminer.zip source code got leaked on the originally planned launch day. This allowed me to see how the SHA-3 was applied (there is a notable difference to other SHA-3 coins like eCoin, which uses double-SHA3).

Christian


I guess this is an interesting feature of this coin. It brings onboard the Nvidia card owners who have been left out so far.
hero member
Activity: 756
Merit: 502
February 09, 2014, 04:51:08 PM
#98
Launch was more than terrible with GPU miners from the start

from the perspective of a lot of nVidia card owners, this was an excellent launch. Having a small nVidia farm myself, I cannot complain. We had a 30 hour head start over OpenCL mining software optimized for AMD.

I am the programmer who implemented keccak into cudaminer, but I was only able to pull it off because the maxcoinproject delayed the launch for 24 hours and the maxcoin-cpuminer.zip source code got leaked on the originally planned launch day. This allowed me to see how the SHA-3 was applied (there is a notable difference to other SHA-3 coins like eCoin, which uses double-SHA3).

Christian
hero member
Activity: 798
Merit: 1000
February 09, 2014, 04:39:02 PM
#97

There are no ASICs for SHA-3 people can buy and none in the works either. So it will be ASIC proof for a while, unlike Scrypt.

Scrypt is actually more ASIC resistant than SHA-3 because it is more memory intensive.

that means that they are more costly to produce and initially SCRYPT ASICs will only provide maybe a 10 fold increase in performance over GPUs.

SHA-3 ASICs on the other hand will give the same 100 or so fold increases that SHA-256 ASICs did...
one day everyone is humming along at 300Mh per card and then bam all of a sudden 30Ghs ASICs start appearing everywhere.

this we can deduce because people have already pointed out that clocking your memory down to 600mhz does virtually nothing to the hash rate. so SHA3 is not tied to memory just like its older brother SHA-256

so in reality,  although Scrypt ASICs may come quicker to market.. seeing one that decimates Scrypt coins the way SHA ASICs did is still a long way off...

And to make Scrypt further ASIC resistant coins can use Scrypt-Jane and Scrypt N Factor (with a hard fork or new coin)

Eventualy any coin that uses the SHA2 (BTC etc) or SHA3 (MAX) family of hashing algorithms is going to have to change their proof of work in order to escape destruction domination by ASICS...

hero member
Activity: 798
Merit: 1000
February 09, 2014, 04:26:35 PM
#96

this is the best coin launch ever had. think about it.

There is a guy called max keep promoting the coin in the exchange.

Nobody except ppl in this forum know how to mine this coin.

Can you think anything better than that? anything give you 0.1btc a day for a single gpu even if you don't have a Nvidia in the computer and have to use the cpu in the first whole day like an idiot?

this is 1gh coin, we all know that. and we only download from 1gh. And there is a celebrity who thought that is his coin and keep promoting it somewhere else. that is awesome. Cheesy

its a good money earner for some.. you will get no argument from me there... but it wont last... it will ultimately fail when the miners move to another coin... they are already planning to launch Stacy very soon.... there is nothing appealing about maxcoin at all and the devs are inept.. yet people keep buying it..... I will continue to tell people that it is a shitty coin but if they want to keep buying from miners like me well... that's their choice... most miners will stay in as long as it is profitable so I dont see the coin collapsing all together.. just not being successful in the long run.
hero member
Activity: 798
Merit: 1000
February 09, 2014, 04:19:00 PM
#95
you know what is most ironic of all.. those idiots running the maxcoin project are tweeting that people should buy the coin but there isn't an easy to use, readily available wallet yet.... so the general public who buy these coins don't have an easy and safe place to store them.....
that means most bought coins will be kept on the exchanges in a place where they can quickly and easily be dumped...

The windows wallet is working just fine for me and many others.

well then I would stand corrected.. I believe at the time they tweeted buy maxcoin and the last time I checked there wasn't one...
KJO
full member
Activity: 173
Merit: 100
February 09, 2014, 03:46:22 PM
#94
full member
Activity: 196
Merit: 100
February 09, 2014, 03:06:46 PM
#93
This is really the biggest scam in alltime cryptocurrency history.

Launch was more than terrible with GPU miners from the start, Windows 8 qt still keeps crushing after a few day, every pool has been under DDoS. People are still coming here trying to mine with CPUs.

The community has been deceived , people who are buying will condemn cryptocurrencies, even if you sell with profit, it will hurt the market in the long run. I used to like Max Keiser, but he is the very same as the bankers, he hates.

This is retarded. You blame Max n team for the pools being DDOSed. This happened for the simple fact that the coin is very popular and everyone wanted to get in, screwing other miners.

Ok, you are right about the DDoS thing. But the Maxcoin team wanted to provide us with pools upfront at launch and this is what they didn't do. Maybe this coin will establish in the future, but one thing we can all agree on is, that this was NOT a fair launch and they really screwed things up. Even a WhateverCoin XY can launch better than this with working wallets, miners & pools for anyone interested.

this is the best coin launch ever had. think about it.

There is a guy called max keep promoting the coin in the exchange.

Nobody except ppl in this forum know how to mine this coin.

Can you think anything better than that? anything give you 0.1btc a day for a single gpu even if you don't have a Nvidia in the computer and have to use the cpu in the first whole day like an idiot?

this is 1gh coin, we all know that. and we only download from 1gh. And there is a celebrity who thought that is his coin and keep promoting it somewhere else. that is awesome. Cheesy
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