Bitcoin Forum

Where did 42coin come from? Right now almost $1million a piece???

with a bribe to cryptsy you can get a lot of things done ;)

It's normal. It's only 42 coins total...

Now only 0.7 has been mined

Why is it a scam, when 1/42 of all ever minted coins are woth 1mio $?

I have not read the spec.

So with 42 coin there are, 42 coins minted total?

It does not seem that any sales have been made on cryptsy yet, so we cant know for  sure the market value.

0.7 have been mined, thats around $1 million. How many is the dev team holding?

Also next time someone is going to make some coin where only 10 will exist and price it at 10 million each? Something is really off here

Yes, there will only be 42 coins ever in existence. That's the gimmick for this coin: extreme rarity. Like DMD but taken to the absolute extreme.

Thank goodness I participated in that giveaway where they were handing out 10 of these coins to each participant. The 4 of us who posted in that thread are now very happy. :)

Not sure which pool you are looking at, but generally the front end of the pools stats page (when you click on pool instead of Blocks) normally only does up to 3 decimals i believe so it would be 0.000  from what i remember this coin ended up having a standard block reward of 0.00004200   

so if there are 100 people mining ith equal mining power, they'd be getting 0.00000042 42C per block meaning they would need to have 2380 blocks in 1 day for people to display a payout on the front screen. im not sure what the block time is, but it seems like a rather high block count is needed jsust to get the payouts to display.



please be aware that is simply for the display and not actual payouts!

I was looking at 42.dedicated pool. Block time is 50 seconds.....I dont see anything under payouts though I had 50 shares and all of sudden they were dropped to 24.

under payout it says 0.00000001.

No, 42 is a good coin. It's only 42 coins, that's why it's pricey.

it's the same way BTB is pricy

The Devs, the Miners, and Early Adopters did everything possible to make this coin transparent, fairly distributed, with virtually no pre-mine.

The coins innovation is its built-in rarity. A little research on your part in the 42 Coin ANN thread should of answered your concerns.

I will await your apology... :)

Instamine scam?

42 Is not a scam but 42 is been made to just roll and get some good profit and destroy.
42 coins are not going to be worth , only few developers and early adopters are going to make money from that and will end up with nothing in public.

Will we ever see a sale at this price?

Good for them, suckers that buy it deserve to hold the bag.

What?
There is a coin out there which you couldn't solomine right from the start and now worths a lot ?!?!?
This fact absolutely qualifies it as a scam!
Period!

Scam - Definition
a dishonest scheme; a fraud.
"an insurance scam"


a SCAM is only a scam if someone gets scammed! So far no one here has been Burnt by this . the fact that it appeared over night (seemingly) and then makes it on to an exchange massively quicker than any other coin and from what i could see in my 30 seconds of searching, Not a single site accepting it as a payment source.  Doesnt make it a scam.

it makes it stand out if anything - Number 42 is famous among true sci-fi geeks, seeing as its the answer to life, the universe and everything (good old hitchhikers)

you should hold your tongue with the accusations about scams until they have been fully proven and also I think firstly i would point my fingers at the "IPO" coins which have been released recently! I havent seen a legitimate coin which had an IPO based solely on a forum post, yet there was at least 3 last week which pulled in at least 100BTC just for making 3 forum posts and then constantly posting in them!

It seems to me that we are still very much in the wild west, the only people that are going to get rich are the mayor and the bandits! We need a coin sheriff to come and break down the good the bad and the ugly for us!

How is that you've been around on bitcointalk.org for a year and call this a scam? Either stick with pure alt-coin hating or do some better investigation before just throwing posts like this around.

There were a lot of people that solo mined this coin from the start including me and I even found a couple blocks.

Yep - with only 3MH I solomined and managed to get 50 blocks.

how come it appered so fast on cryptsy. i not even heard of this coin before

devs greasing cryptsys gears.

No pre-mine, no hype, no insta-mine. Very low starting rewards for first few blocks until network adjusts. It was a fair and even launch with a chance for people to solo mine. The pools worked. It is and has been a stable coin with a good amount of hash on it that is why.

The 42 Coin Thread is on the new subforum Announcement section, not in the main Alt Crypto Forum, might have something to do with it being a surprise.

Not sure why it got on the Cryptsy Exchange so fast, that took me by surprise.

I was thinking the same..

0.0000042 locked in my wallet please help.  :-\
i tried to buy a bit of 42 coin on cryptsy,   :(
my small buy orders do nothing? why?  ???   ::)
4EbWXJS7nzaBW25cps6xdtdVtQekHr2Hoc
 ;) ;) ;) ;)  8) 8)

The owner of Cryptsy is   clairvoyant

Technically there was a small 0.42 pre-mine. However, I don't consider this to be exorbitant and the coin was definitely mineable from day 1, whether through pool or solo. From the thread: https://bitcointalk.org/index.php?topic=399658.msg4322628#msg4322628

"UPDATE
Just to clear things up, and to promote transparency. I would like to let everyone know that there was a small 1% block mined before launch. This block has always been intended to help promote 42. I am, and will continue to, host the giveaway. Some has gone to the development of the website. Some has gone to advertise. Some has gone to bounty's. Eventually alot will go to the faucet I am building. I wrestled with the thought of doing this but the coin must be promoted and that is very difficult with no coins to give for giveaways or bounty's.

We currently have some of the best marketing professionals working on 42. I have no doubt that this coin will be a huge success."

I see no arguments as to why 42 coin is a scam and I see no facts presented to support cryptsy has been bought off to list this coin. This is just another scrybt coin basically with the decimal point shifted to the left as supposed to shifted to the right like with coins that got billions of them in circulation.

How many 42 coins are currently in circulation by the way and what is it current marketcap ?

I should have mined this coin by the way, but I did not, I figured the scarcity argument was just too obvious for it to be a black swan , and I made a wrong call it seems.

http://altexplorer.net/chain/42

~.79 coins so far

so at current market value of 1100 btc the marketcap is 869 BTC or $ 713,449 , well not bad for a new coin recently added to an exchange, not bad at all, but nothing extra ordinary

It's obvious that this is a get rich quick scheme, what is so rare about this coin since it's just a copy? There are plenty other coins like 42, but under a different name, can you then tell me what's so rare about this coin? Does it do something very different? Is some country announcing tp use 42 as their currency? It doesn't bring anything new to be rare. The creators thought if we just make it 42 than naif people will fall into believing that it's rare. Also how come Cryptsy added this coin in such a short time? Many haven't even heard about it. No way it's worth a million usd a piece.

cryptsy reflecting unreal course coins at the moment, and false for 42

It's only a scam because you don't have any  :D

Your accusations could be applied to 90% of the altcoins available. Except for a few, they're all variations on bitcoin and 90% of them have stolen their PoW algo from the previous coin.

Here's a post discussing 4 coins that are not clones or copies and you're calling them scams too. You might want to try harder before throwing accusations around, quarkfanboy.
https://bitcointalk.org/index.php?topic=399991.msg4328123#msg4328123

PS, yes, quark uses a different PoW but in every other way is just another bitcoin clone. The difference here is that you seem to have profited more off quark. :)

I still believe those coins are a scam, 100% premined. I am also BTC/LTC fan, recently QRK also because it is trying to do something different, but 42 doesn't it brings nothing new and is around $1m a piece, its ridiculous. I would have liked 42 if they tried to bring something new to the table instead of just changing the amount. Although i wish you good luck with your investment.

If there were 42,000,000,000 coins and they were 0.00000002 each then the market cap would be exactly the same. The value per coin isn't really all that ridiculous, although I will grant that it's a clone.

The thing that's special about it is that it gets us to think about what bitcoin would be like if Satoshis were valuable and hard to mine. What value this brings, well that's for the market to decide.

Btw, dismissing NXT, XRP, MSC due to a pre-mine is a really simplistic way of trying to dismiss an idea - just realize that there are more ways than mining to distribute a coin. The point of altcoins is to try things that bitcoin isn't - let the market decide if they're valuable or not.

I don't think it's right to hinder someone else's investment to make money with hating threads. So you're kind of right. If i jumped in 42 early i wouldn't have called it a scam, so i changed the title. I'm not that kind of person to bash other coins. Good luck

Some people whine and cry in the crypto world... others roll up their sleeves and make things happen in it.

Sorry its so hard for you to join the latter.

I don't have wallet yet. If i decide to buy 42 i'll make a wallet. Thanks for offering :)

cryptsy are greedy of course..... have you not realised how shady they are


they listed orbit coin with a big bribe...

I wonder their reasoning for adding 42 over other alts :)

They said they would never add coins with all those zeros infront....who would ever use it.

They said it was impossible to add  onecoin  and that was only more more zero and had a MUCH larger following.

Thanks you for changing the title of the topic and removing the "s" word.

If you could post your 42 coin address, we can see if we can get you some donations.

:)

 :-*

uhm no, not even close

There is only 0.79  coins in circulation

so at current market value of 1100 btc the marketcap is 869 BTC ( not 48.000 BTC, how did you come up with that number ? ) or $ 713,449 , well not bad for a new coin recently added to an exchange, not bad at all, but nothing extra ordinary ( about half the marketcap of earthcoin for example to put it in perspective)

Well , the same thing applies to all the new altcoins in order to keep their current value in the future they need a proportional amount of BTC investment coming in consistently, as new coins are mined, I expect very few of them will actually be able do do this. I do not see anything extraordinary with this coin compared to other new altcoins, again it's market cap is about half of earthcoins marketcap to put it in a little perspective

I am holding till the 42nd and last coin is mined...in early 2015.

What will one Dent of 42 be worth then?   $1 ??

Nobody seems to remember Onecoin.  ::)

Just downloaded the wallet it's syncing, but here is my address 4RpuywXfywkxhEqcEwfL6ytW5EZErL1cf3. Thanks for being generous.

i remember i and want to see it come back....

why I got in my wallet unconfirmed 0.0042 and status doesn't change ?

This. Will never be of value in any kind of retail due to the lack of coins. Only one that have made out is the few select people who either premined ( not sure if it was, but IMO happens with every coin ) or some rather early adapters. Anyone after well.... your all suckers.

100% true!!
This is becoming very silly.

It's 0.00, 42 is the coin. People were saying the same thing in the ANN thread. :D

This is just an assumption, yes this coin made it to cryptsy pretty quick, maybe they were bought off maybe not, maybe someone at cryptsy was involved with this coin, maybe not, maybe someone at cryptsy mines this coin, or maybe they just thought hey 42 funny rare coin, folks gonna trade this one big time, lets make some commision.

Cryptsy are full of shit. They make very shady choices with zero accountability. I want to hear their reason for listing this after all of their bullshit before about not listing the one coin because they didn't get on with all the 0000000000000's


I see coins with 100's of requests for listing all ignored. But they randomly add 42 coin???

I see this like an social experiment :)

Original idea should be the listing of OneCoin ofc ;)

hehehe  <cry>

Can 42 coins price reach 5000BTC 2 years from now?

they already was up to 1850 BTC / coin  today..

Yeah tomorrow will be less BTC than today.

Think how much onecoin will be worth..... a fortune.... they are bringing it back.

But when no new coins are mined, there is not reason to mine anymore... I dont expecting you can get much from transaction fees here

It will be so rare to own, like gold or diamonds. The value
should stay high like any precious commodity.

Hoping for $1 per Dent a year from now...

:)

Orrrrrrrr it goes down in price and never recovers :/

Perhaps the value of mining isn't clear - if there's no reason to mine, then mining doesn't get done and transactions are not confirmed or a single mining pool controls 51% and can choose to only pickup transactions with unreasonably high fees, etc. No mining = no value = no selling or buying of coins.

I bet, so your worth 10 million now huh? cool, i believe you, i really really do ::) ::)

4L4GvxVEdjhh5e2o2FSttR3xXs9VSTaAJN
thanks

How in the world does a million USD of value get created out of thin air in 5 days?  :D

That is 3 BTC right now  :o

4WhUrjG7Gfp9rCYsTuz5ARW4nJLmkS8zuE    :D

My funny story: yesterday I tried to create an order to buy a small amount of 42C at Cryptsy (exch.rate was ~320BTC). Just for fun, may be for profit (look at actual price, huh). Several times my orders was AUTOMATICALLY cancelled (not by me!). So strange, so cryptsy...

Error: Single withdrawal amount cannot exceed 0. Please break your amount into smaller chunks.

Cryptsy message when withdraw ?

Is solo mining worth it for 42coin?

Wow! there's really something special about 42 coin after all. Who would have thought that this coin will reached more than 1500 dollars in value.  :)

You have got to be kidding me!! 42 coins. lmao

This just might be the answer

There's onecoin also.

http://cryptolife.net/the-gimmicks-continue-say-hello-to-42/

I had 0.00000066 42coin in my local wallet and sent it to Cryptsy.  My wallet shows it was sent, the address it was sent to, and the fact I have 0.00 balance.  When I click on the field, this is what it says:

Status: 0/unconfirmed, broadcast through 7 nodes

What does it mean?  I sent it out over an hour ago and it's still saying this.  Eh?

Thankfully, if I just give up, I'm not losing more than about $0.16 in bitcoin value, which is what I was planning on exchanging it for anyways.

u can't get less than 0.01BTC out of Cryptsy. Kiss ur coins goodbye!

Hard luck m8. Please tell me you have more than 0.01  BTC...

It's called 42Coin, and one of them is already worth 1,000 Bitcoin, according to Cryptsy, which added the digital currency to its board yesterday. As of this afternoon, one Bitcoin was trading around $900, meaning one 42Coin is worth about $900,000. A full 42Coin has yet to be mined, and the prices are scaled up from the fractions of 42Coin that have been transacted (so don't worry, no one has actually yet spent $900,000 on one of these babies).

Let this writer watch new market price please.
 ;D ;D ;D

Wow i just saw this coin and how much it sells for, but seriously is it just a gimmick to have 42 coins?

yes

42 is the meaning of life, the universe and everything according to the book Hitchhiker's Guide to the Galaxy. I think that's where the inspiration for the coin comes from.

They just moved a decimal point, not really a big deal or innovative at all.

I was the first person to buy 42 coin.  Was awesome and fun.  Then its value dropped. I love hitchhikers guide to the galaxy.  So does the Mt. Gox prick.

http://in.reuters.com/article/2014/04/22/uk-bitcoin-mtgox-karpeles-idINKBN0D700J20140422 (http://in.reuters.com/article/2014/04/22/uk-bitcoin-mtgox-karpeles-idINKBN0D700J20140422)