Bitcoin Forum

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I am not surprised people are mining them and then wanting to trade them for btc.
What i think will happen over time is that the price will fall to next to nothing and then it will fade away.

until then...party on baby!  ::) ::) ::) ::) ::)

Party's over in 2 and a half hours.

Something tells me that 150 to 200 GH/s at difficulty 4096 is not going to be party over.

Mining for it will no longer be any more profitable than BTC mining.

And you can see the exchange rates for the next 5 hours in the future? Please if you can then share the info!

Sure, about the same as they have been.  Do you have some reason to believe that they'll go up?

Just a hunch. I have traded in markets and this feels like a rally that has not started yet.

It may be short but there is a rally...

Hey Chris, the Ixcoin exchange is blocked for me at work.  What's the current exchange rate right now?  I can't see it.  Last night I remember it was .0008.  Can you tell us what it is now?  Thanks!

Last Price:   0.00214300   High:   0.00249800   Low:   0.00023231   Volume:   346938.55050340   Time:   08/13/11 04:31:50

It was around 0.0015 leading up to the difficulty increase.  It's hovering around 0.0021 right now.  Not exactly impressive, considering that the difficulty quadrupled.  The price range has mostly stayed around 0.001 to 0.002 since the exchange started.

If the hashrate hasn't dropped since I last checked, there'll be another 4x difficulty increase in about a day and a half.

We're still in the "initial climb" stage for difficulty, so analysis is difficult. That said, IXC has gotten a LOT of attention this week, certainly enough that as many people are aware of it as are aware of NMC. NMC may have an actual use aside from just currency, but bitparking NMC volume vs actual dot-bit registrations should prove that it's NOT being traded because of its intended purpose. I expect to see IXC on competitive par with NMC, perhaps moreso considering that it's far easier to use than the current command-line-only NMC implementation. That said, I'm holding on to most of the IXC I generated when difficulty was 4. I could maybe get a few hundred USD out of them right now but I think this market is just getting started.

Edit: Oh, and as for this:
As I mentioned, we're still in the "initial climb" phase. Whether you're of the school that believes difficulty influences price (or vice versa) I think we can all agree right now that difficulty is meaningless. If you've got some analysis once it STOPS climbing by factors of four let me know  ;D

On a related note, look what NMC profitability was like during their "initial climb" - http://tvori.info/bitcoin/charts/ (the light blue line).

You scam-hyping pile-o-shit.

/thread

Someone pumped in about $2,000 and the rate shot up from .0006 to .001 -- there are something like 400,000 IXC outstanding, so at .0006, it would have only taken 2,400 bitcoins to buy every single ixcoin. Because the volume is so low, the prices are mythical.

Sooner or later, prices will nosedive heavily. I'm thinking sooner. The next question is whether ixcoins will survive that nosedive.

On the bright side, we now know what critical defect in bitcoins are solved by ixcoins -- insufficient divisibility.

Salty early-adopter? ;D ;D ;D ;D ;D ;D ;D

I really laughed. :D

Prove what? What the fuck are you even talking about? What is up with that grammar and sentence structure?

 Go back to mining your scamcoins and grinding your dignity into the mud even more, you racist twat.

As for me, I don't think it is a threat to BTC. Ixcoins can harm or benefit bitoins. It is too early to tell.

What I don't like is the idea behind it (which is none). I believe in BTC and I support it. Ixcoins only have one motivation: profit. I think it is wrong from a conceptual point of view.

Trailer trash indeed refers to class, however, you have now twice implied that I am from Georgia and previously stated that you emigrated to the US. I can only assume that this is some ignorant racist construct of a simple mind.

Have some class, sir.

basically ixcoin can be summarized as one of two things or perhaps both.

a big joke designed to coral in the sheep (miners/silly exchange setup to trade it) of this community and to upset others.

or it was released in an attempt to make a fast buck.

This is what I call start with both wrong feet... one of the major flaws in BTC was deflation generated by massive speculation and pretty few to none real economy around it.
IXC comes around and the first thing to open is... a "speculator playground", normally called as "exchange".

Let's see how this unfolds...

The question of a person making some money in this scheme is not really in question. You are an example of a person who did.
Enough people were suckered into it by the desire of being an early adopter to a new copycat type of bitcoin. That is clear.
As for the 400K.. I really do not think that is a huge deal either. A person who releases a fork has to test it out.. and at first
mining is not difficult and coins build up fast.

But have you ever heard of the greater fool theory? Now I am not calling you the fool. You mined and got out instantly. But basically
showing a total lack of faith in the scheme you seem to be promoting is not going to win many over except the fools. Immediately selling
for BTC tells me what your goal was and shows where your faith lies when it comes to digital currencies.

So just like namecoin... where people were interested because they could make BTC quicker then normal mining.. so goes ixcoin.
As soon as the math no longer makes sense.. you will move onto something else leaving the fools with a bunch of 0s and 1s.

Saweeeet!  ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D

Well, I don't blame you. Ixcoins are for you! 8)

But I am curious to know if Thomas can build a currency with people that only want to profit from speculation. We'll see...

I'm not sure that BEX can see your post from behind all the stacks of Ixcoins.

FTFY

Yep, we will have 21 different flavors of the cryptocurrency idea - vanilla, chocolate, cherry? Pick your flavor today.

Yeah really I don't see why everyone is throwing such a hissy fit. I thought this community believed in the whole "let the free market do its thing" idea, no? Let it be. The superior system will come out on top. Bitcoin has the first mover advantage, and at this point without unique and better features I don't see ixcoin subplanting bitcoin any time soon. The most likely scenarios are:

1) it will die a slow death
2) it will die a quick death - blaze of crypto glory if you will
3) it will find a niche as the "sidekick" to bitcoin and some value or use will be assigned to it by the market

Personally I'm disappointed that the creator of ixcoin released it without bothering to make one slight improvement over bitcoin. I really expected at least an encrypted wallet by default, or a better UI design than the ugly-ass 1960's design the stock bitcoin client currently has. Also copying the entire bitcoin website verbatim and just swapping "bitcoin" for "ixcoin" is pretty lame.

I can come up with many other complaints, but I don't think it will make one damn difference as the system is already out there as it is. Some of the core properties cannot be changed without a major upheaval from the existing userbase.

But like I said, the thing is already out in the wild so let's wait and see how it fares.

Heh, then I guess your forum nickname is pretty fitting eh ;) I admire your honesty. You get extra + from me for that. Many here will not admit that to themselves let alone to the rest of the world.

Honestly I kind of wish ixcoin started with a ridiculously high difficulty and work in reverse to squash such profiteers. It would've been an interesting experiment, and I hope someone releases another fork with a so called "egalitarian" mechanism built in.

Congrats on becoming an ixcoin equivalent of the federal reserve. Now can you please start offering loans in ixcoins ;)? C'mon generate some economic activity with that huge stash! :)

Quickly, sell them ALL before their value goes down the gutter!!!!

Who is buying Ixcoins and why?

I could tell you but then I'd have to kill you.

Speculators. They think/hope that ixcoin will skyrocket in value like bitcoin did and they do not wish to be left out of the price bubble party. That's all there is to it - at least for the time being.

Correct!

I guess Ixcoin wasn't really here to stay eh BCX?

 ;)

Yes totally in the dumper only ~300gh/s mining it now.

http://allchains.info/

It can be merged-mined, so serves as one more chain to include in any extended trial of merged mining.

How many chains can be merged-mined at once? We don't know yet, so we also don't really know yet how much it really costs per chain to add more chains to one's merged-mining. Can one mine enough that every stock on a stock-exchange could have a chain of its own? Enough to do that for all stock exchanges? So far all we know is merging a few chains seems to work fine...

...Which means that so far we haven't even really had any pressure for efficiency improvements in merged mining such as selecting which chains to merge at a given moment based on which have fee-paying transactions available, which could be a useful improvement if/when the number of chains one could choose from becomes far larger than the number one can effectively merge at one moment...

-MarkM-

When you say you made a killing with it, do you merely mean that you dumped it and thus are now actually not very rich in number of Ixcoins you control?

Or do you mean that you leveraged your position to such an extent that you now own huge amounts of Ixcoin in addition to various assets you aquired in the course of becoming one of the largest holders of Ixcoin?

There is a character I see from time to time in the Galactic Milieu named Ix, who seems to maybe even be thinking of trying to develop some kind of Ixian culture or nation or species or something but so far has basically mostly just caused other players to think of Ixcoin as a kind of personal IOU or something of this particular character, useful possibly in trading with that character but of questionable use otherwise.

Maybe you and Ix could get together and build up Ixcoin more than just that one character's personal trading, limited by how much loot that one character (albeit quite strong, being an Quetzacoatl) carry to and from his/her/its trading-posts?

-MarkM-

Where is the URL?!

http://ixchange.bitparking.com/ ?

I believe doublec closed it some time ago. Maybe the double spends mentinoed above might have had something to do with it? At least the fact that double spends seemed to be too easily possible.

I have prepared my Open Transactions server (https://bitcointalk.org/index.php?topic=53329.0) for IXCoin trading among various other currencies and assets, but I admit this double spend / blockchain attack threat has me somewhat concerned too.

I figured though that at the least I could set up DigiIXCoin tokens equal to the ancient IXCoins I have in stock that are so old it is presumably far too late now for anyoen to try to double-spend them...

-MarkM-

BCX true it isn't dead.

It's on life support.

I dont see anyone developing for it either so it really has no purpose. Not even profit since there is no exchange.

Merged mine it to get its hash rate up, more exchanges will open or re-open once its not so vulnerable to double-spending.

Though if there is no exchange directly to fiat that could be good for using it in games, as it might help maintain the claim it is just a game tokens system not a currency thus playing games with it is not gambling...

-MarkM-

There's Vircurex.com (http://www.vircurex.com).

Oh of course I did. I cleaned up on IXC, IOC, and SC1. MEGA BUCKS! ;D ;D

Agreed ... on to 5 more strong years!