Bitcoin Forum

.

it is wayyyy too early to tell.

it may be a competitor with litecoin, which would be great in my opinion.

wait, before you speculate, but not too late.

Is there any movement/development/plans whatsoever for this coin to be spendable anywhere?

Its an awesome coin, a great first step to 'useful' PoW schemes, and has real innovation....but if there is no real future in being able to actually spend the coins on goods or services one day...what are people speculating on exactly?

Isn't it more a proof of concept, than potential valuable commodity?

Bitcoin was a proof of concept.  ;)

Fair enough....but crypto currency isn't a new concept anymore....just seems to be little/no movement to do anything with the coin outside of mining it and listing found primes.  Maybe I'm just missing it somewhere.

It's not even a month old. Give it time, people who see the value in it will create a market for it. Imagine people who will offer discounts for using Primecoin as payment?

price has crashed.

why ?

What website are you looking at?? Price is at .0126 on cryptsy, still higher than it was 24 hours ago (.01195).... not sure how that's a crash.

Nobody knows what the price will be. Its not as if there are charts and trends to help.

If I knew I would have become very rich. As it happens I sold mine at 0.0029. Yeah, don't laugh at me, I am already banging my head against the wall.

dont worry you are not alone

i sold 100~0.003 (after 0.002 crash)

and 200~0.011 2 days ago

still holding about 150 :)

and 1.15 on pool account, lol

it was 0.017 today so it is 40% crash.

like bitcoin same day from 260$ to 150$

You are smarter than me. I sold 94 at 0.002; then 94 at 0.0038 (was hoping to make back my earlier loss). Then I watched in horror as the price rocketed up and hung myself yesterday. You can find the undead version of me floating around at WDC chat.

Still holding 4 blocks though (got 1 today). I am not selling now. No sir, I have learned my lesson.

Making apartheid shops/services around whatever your pet pyramid/ponzi coin happens to be is not actually all that useful, especially to the people operating the shop or service if it, rather than the ponzi/pyramid itself, is their actual business, their bread and butter, their living, their children's college fund and so on.

It gets simpler and easier and cheaper all the time to accept any food anyone wants to put on your starving children's table, any scholarships anyone offers your kids, so to speak. That is, as an actual business that is actually in some business other than one or more pyramid/ponzi coin schemes, there is not even any actual need to pick and choose among coins or fiats or any other negotiable instruments, all one needs to choose is a payment processor who is willing to give you the kind of value / money / food / wealth / income you like, whether it be fiat or cryptocoins or whatever, who will handle all other things all possible customers might like to buy things with, be that ancient hoary coins of actual physical gold, Fed-printed dollars fresh from the presses, or the latest fad in e-currencies.

So really what providers of goods and services other than the service of payment processing choose to accept or not accept is pretty much a non-issue.

The nearest issues to it are what forms of payment are the best payment-processors able to process and which payment processors are the best...

-MarkM-

we have casino, hosting and vps
(yes i have dgc yac wdc pxc too)

please use more dots ;)

best lesson is to hold 60% of mined loot and sell every day the rest (if price is not terrible)

i have changed 1000 ltc to 7 btc :)

Interesting. Makes sense too, I guess. Cheers for the tip.

Looks like some big buys are lined up for XPM at 0.07. Wouldn't be surprised to see a healthy bounce.

15 minutes ago i sold all crapcoins for 0.15btc, bought 13 xpm at 0.0117

and now is crash below 0.011

just playing not trading, lol

Seems like some are making it a lot more dramatic than it really needs to be...

It's a brand new coin with a lot of hype (granted, well deserved hype). Crypto trading already consists of a shit load of volatility, even more so for something new like this.

I really don't see the point in worrying about hourly spikes and drops... that's bound to happen. It went down to .002 a few days again didn't take long at all to get back up there. I'm sure it will dip under .01 again at some point, and it will be no reason to freak out... it's going to be awhile before XPM is the least bit stabilized.

Edit: also, .017 to .0126 is not a 40% crash.... try 25.88%. Bitcoin was a 42.30% crash at the price marks you provided.

u are right, 0.017 to 0.011 it is only 28% crash
i think real bottom is set at ~ 0.01

u need only about 6 btc to pump price to 0.0145 on cryptsy, it is shallow market

this coin has some hope for future but price 1$/coin is really high.
when some whales will sell to payoff their hosting bills coin value will go towards dvc :)

i am holding anyway, till christmass :>

Primecoin is new, is that all?! What innovation??! Which of Bitcoin addressed flaws it improves or solves??!
Of course to show non-specialists that one can code a coin protocol by using prime numbers instead of hashing algorithms is nice, everybody accepts that. But what then?!... "it has benefits outside the coin economy, for finding primes".. are you kidding? then where the resulted prime list is stored now for the use of number theorists?! (putting aside the fact that there are a lot of more clever and faster ways-sieves of finding primes inside math community already, if you need some I can refer you to)
Besides using a new (interesting I confess) way of encryption, the only benefit I see from this new (come and leave) altcoin is for dearest miners and darling speculators to benefit the pyramid.. yes the price will rock for a while, because it is new and looks attractive (very american, isn't it?!) so if you did buy a lot when the prize was 10 cents or mined when the diffculty was <1, you win some money..and then it will go to the list of alt-coin stories.
 
  

thank you
you just crashed XPM to 0.0088

weak hands are monitoring this topic be carefull what you write there :)

Holding my position. 8)

good boy :)

no, it got hyped thats all... itll crash and dissolve like everything else

and then you will buy. :)

That's probably a good strategy. :) I've been selling half of my coins at high points and buying back in at lower prices, so the price fluctuations have been working to my advantage. I don't know where it will be 6 months from now, but I could easily see $10/coin. I hope I'm wrong and it's way more, but there's always a chance it could be less too.

That was a miss type I meant =1  :)
Be careful, as I know much more than the forum average about prime numbers (have a graduate degree of math from Berkeley, with Number Theory specialization)
OK tell me which problems does it solve? (51% attack-faster transaction-fair distribution..) Just tell me and I ll accept.
Just that is new and uses a new encryption doesn't mean that would be effective. For example one can write a new coin wit the use of elliptic cryptography or perhaps the use of Diffle-Hellman and...wow, that is now.. attack my dear miners and speculators..push the pyramid.

LTC managed to make its way in altcoins for 2 main reason: scrypt+fast block(2.5m). XPM has the same property aside from its scientific value: prime+faster block(30s or less). BTW, peer support is the key for any altcoins.

As a miner or speculator you are enjoying the NEW Logo effect blown by mass delusion, that's OK, I ll understand you!
But do not come here and say, people do not know... that's ridicule. Anyone may try to enjoy the pyramid game to wealth as did I, why not.
But miss-interpreting technicalities and scientific facts for a small piece of fucking profit is ugly.
New encryption method by using prime numbers was good (excluding the funny claim that it has scientific benefit perhaps for Number Theory, haha)
What the crypto-finance community is really looking for are solutions for those problems I mentioned in my previous post (%51 attack-faster transaction without a high security tradeoff, and of course a fair distribution and market adoption)

One last question: what scientific value and benefit? (for the related area as it is called Number Theory)
Suppose I am a Number Theorists need a big profile-list of prime numbers to investigate about the related distribution of zeros of zeta function on the critical strip (s=1/2+ix) How the result of your mining help that? How it improves the 51% attack problem? (I read the white paper and it says it is a bit weaker than BTC in this regard)

I agree with this 100%.

I've been waiting for someone to prove the protocol useful - all I've heard was "B-B-BUT MATHS LYK PRIMEZ!!!!?".

Someone should prove its uses then.

The part where all of the immense amounts of hashing power results in nothing more than a verification of the latest block.


In the blockchain. You can query it with the getblock command. There's already a few 3rd party programs that analyze the chain.


Have you read anything in this thread? It's not about finding primes, it's about prime chains. But if one does know a faster method, then it would be profitable to write a miner that uses it. I don't see how that's a criticism of primecoin at all. The method of finding blocks to mine isn't set in stone.


The same thing happened with Bitcoin.

AgentMe: Its an encrypted functioned primechain, and not an explicit ready to use prime numbers list. It takes a lot of computation to change it back to the explicit form. Okay to prove me wrong, show me how many primes in the form 17K+3 was found in the already processed-mined list of primechains?  ;)
And you say the same thing happened with Bitcoin", then why the fuck this new coin is "needed???
(you may again say for scientific benefit, hahaha, there are pure academic computational projects for investigating the primes, you can help them by donating the bitcoins you use for speculating and playing the pyramid with the everyday coming (nothing new) alt-coins ;)
It will help not only the science but also the poor life of genius mathematicians, who do these things much better than you!

Enjoy your mining for pyramid game and don't troll your shitty piece of non-sense here.
All I say is related to the price, since the innovation is useless and won't result in any effectiveness, the high price won't last forever, that is what I am trying to say. We know you forum trolls (for personal benefits only) very well;)

You just pass a block hash to the getblock command, and it tells you the origin of the prime chain. You add and/or subtract 1 to get the first prime(s) in the chain depending on its type. In the first 10,000 prime chains, 11 primes matched that pattern if I did my quick script correctly.


Because Bitcoin would never implement this, especially because of the huge investments in SHA256 hashing machines.


The idea is that you can kill two birds with one stone. Have the math work be the same work that does the block confirmations.

What was the magnitude and range of the primes being enlisted? (not the chain but the consecutive primes)
The primes should have been too big, because Dirichlet theorem estimates a much bigger number than 11...
And I suspect that the primes being found for the coin shouldn't be too big or too small for the blockchain efficiency sake, am I correct? (and if so, how it will help prime studies in continuation?!)
And if it won't stop finding primes and will continue forever, applying Moore's law, finding new blocks and coins, to compensate mining expenses, minimize transaction fees and inflation, then tell me, who is ready enough to invest on some stock with infinite shares?!  ???

The algorithm doesn't search for new primes, it is finding prime chains. Numbers are in the order of ~200-300 digits currently, if my understanding is correct. They've already discovered quite a few new records for both chain length and integer length. There is a dynamic block reward that corresponds to difficulty, so the notion is that it will reach a balance between inflation and network strength without blowing out the stability. Whether that actually works remains to be seen. Either way, I think it is a novel take on cryptocurrency and I am willing to keep an eye on it. These blocks I stacked don't hurt my interest levels, either.

Read the whitepaper, since you seem like you understand some math. It might help your B-list trolling.

When FTC first took off, it came under attack from both BTC and LTC holders (for obvious reasons). In the case of XPMs, it seems only BTC supporters are bashing it; while the LTC guys are quiet.

The Primecoin success has been very interesting and welcome. Lets see in future if it is possible to use PoW hashing to do folding and those types of research; or if even it will be possible to change the problem at intervals.

EDIT: I don't mean all holders, of course. Only a few, maybe a small minority.

RandyBalls: good post, the whitepaper was not enough explicit in addressing the protocol and the nature of the blockcahins produced with.
And yes I know some math (actually I have a Ph.d with my dissertation being done in Number Theory). I am not trolling dude, just trying to make the picture clear here. Remember: primes could behave very irregular and wild, causing one to keep an open eye on their dependents  ;)
Magic8Ball: I am neither Bitcoin nor Litecoin supporter, each have their flaws, specially Bitcoin has the above mentioned one (51% attack, slow transaction, unfair distribution-adoption pattern). I am looking for a new coin to solve these problems. That's why I am asking and questioning the newcomers.. hope your Primecoins does these things well, time will show.

I suggest you have a look at Netcoin. If you're a math expert it's in the process of peer review so have a look http://bitcointalk.org/index.php?topic=169204.0

It's dropped a bit  >:(

BTC is overpriced, XPM is underpriced*
I'll just fix that for you.  ;)

Everybody panic!!

I'm surprised it's dropping so quick.  I know its taking me forever to mine any these days.

Thus the need for a lower price... why buy at higher prices if weak hands are weak enough to part with them at lower prices?

(Too hard to mine.... have to buy instead, ouch... Need to convince people to part with them cheap... plot plan FUD whatever...)

-MarkM-

GPU miners are coming!! The price will go down to 0.00001 LTC per XPM. Sell ASAP!!

It was panic sell. Someone said in chat that if gpu miners will come block reward will go down to 2 XPM that isnt true.
If GPU miners come up then we seems get difficulty around 10-11 (block reward 10 in case of diff = 10 and 8.25 in case of diff = 11), but diff = 11 means that primecoin net will get ~ 1000 more hash power then now (current diff ~ 9)

Quick, more FUD so we can buy more cheap!

-MarkM-

Primecoin turned me into a newt! (Am I doing it right?)

Seems like the price is stabilising. So maybe can get a few now. I hate to do some trade and see the price fluctuate badly, usually opposite to the trade I have done.

I hope it drops. Too expensive to buy anything now. Maybe after the UNOCS announcement tomorrow I can sell a few of my coins and get some BTC.

XPM to LTC prices in ~3 weeks...

My post was not directed against you. Just a general observation from several threads. Found it interesting, thats all.

'My Primecoins' - not so much. Mined 4 blocks, 2 of them on the fast day. Looking to buy a few if the price drops.

Short term 0.02, long term who knows...  ;D

short term down to 0.003 and then rise to 0.015 in 3 weeks maybe

Please let it be true. Sold mine at 0.0029 - a chance to undo my mistake.

Depends on how GPU miners turn out, this seems pretty accurate.

Calm down a bit. Be patient and remember there is always opportunities for traders, i.e buyers and sellers.

Yeah have some small holdings in case it goes up high  8)

I have been watching Netcoin (tacotime) and MiniBlockchain (bitfreak) for some 40 days already. Their progress have been a bit slow, but the scheme looks promising.. thank you for mentioning anyway. :)

Despite all the critics and questioning I made in this thread, I also guess primecoin will reach 0.04 or even 0.05 here or there soon, perhas in a month.
(Since mass psychology is not driven by logic)  ;)

Volume's been low today. Considering the historical trends (1 week  ;D) i expect a big jump or a slump in high volumes. Place your bets.

people are buying again.
of course i sold lol.

And slowly it goes up!

If you sold at 0.015 then that would have been good, otherwise no.
I think it should rise much higher, who knows  8)

The point I was making was simple. The difficulty of the coin in this thread started not at <1, as you stated so abruptly without actually reading about the coin. But the difficulty started at about 7. So if you want to actually read about a coin before you offer more conjecture on the subject that would be great!

Difficulty was about 4 yesterday as I looked into, and I've had a quick glance on the paper the first day it launched, initial difficulty was not mentioned there. one doesn't need the fuck to know about the initial mining difficulty to review and critique the building structure of a coin, captain (no) obvious!
But if you want to continue negate my opinion by repeating my miss-type there (<1), do carry on, you are typical!

 

More of your ignorance showing through......the difficulty has never been 4!!! One does need to know the FACTS before using such a sad argument of a coin that you know NOTHING about.

Okay mr. (forum typical trolling only for profit) dude: continue your shit, no reason to discuss with an average miner-speculator ;)
I am sure your argument will soon change direction when you have sold all your primecoins and got your shitty profit out of this one!
Anyway your username speak of who you are, what you do and what matters much for you  ;)

Whut

You didn't discuss any properties yet, you just attacked me because I asked about what primecoin improves about 51% attack, slow transaction and unfair market adoption and integration that BTC carries as its flaws. Your very powerful reasoning (hehe) for attacking my argument is that I miss-typed (or let say miss-informed, I don't mind) about actual current difficulty (that has nothing to do with my critique of the building structure, diffculty changes but building is permanent and determines the future of the coin and its difficulty as well)
Everyone can see how strong your causa prima is! 
Perhaps you can sell some of your primecoins and then we can discuss in a more reasonable manne, mr. PoolMiner!

Nice Rick Roll. Not.

That's kind of an irrelevant comparison, let's say XPM gets to $3, or whatever LTC is at the moment, that doesn't "mean" anything, because the money supply is different for each crypto. For XPM to "get to the price of LTC", XPM would need to have a value of around $55/XPM.

Really? Could have been at-least original. That post needs to be reported and removed.
@price it should rise, it's been more stable recently

Right. A more interesting measure is looking at the market capitalization (http://coinmarketcap.com/). Primecoin managed to hold spot #5 for a while earlier today, replacing Novacoin. That's promising.

I wonder what the price of LTC will be when it gets down to 12.xx coins per block :D

Marketcap isn't that good an indicator for any coin because you don't know how many coins truly are available. Take Bitcoin for instance, millions of them are lost and will never be recovered, but everyone still uses the ~11 million number to calculate its market cap. Bit silly if you ask me.

I think the biggest factor for any currency is how much money is chasing it. In primecoins case the total amount of Bitcoin on offer at any one time is a good indicator of the strength of the price.

Exactly my thoughts, why would BTB be worth more tha XPM, or NVC for that matter.

XPM reward is going down quite a bit....and will go down more as there is quite a lot of optimization to do yet....as well as possibly gpu's then FPGA's and finally asics.

why wouldn't this happen? is the question.

There's problems with that too, as trade volume is also an important factor.

Because there's only 4500BTB (with an extremely limited supply growth), compared to 1,000,000 XPM (constant money supply).

Both are great in their own respects.

My technical analysis says that XPM price will drop 40% or more soon, be careful  ;)

but what does BTB offer that say bitcoin does not except a more insecure blockchain.....? and less dev's

thus why would I use BTB to store any value?

Market cap is the best indicator apart from extreme artificial examples.

There is a lot of lost or destroyed fiat too so..

The two problems I have with this are that:

a) TA in a nascent market is a little foolish.

b) It's YOUR TA.

Yes since the supply keeps dropping the price should drop once the coin becomes more rare, because F* logic ..

You better say: "I don't believe your TA, because I am a mother fucker speculator-miner and have bunch of XPM kept for the rise.."
That TA is more like Astrology and not science makes more sense and I may agree, but all the other dearest speculator-piece of shits, be quiet and keep looking and dreaming the rise you desire much  ;)

I d just posted that to strike you dear "pump and dump" speculators-pyramid-ponzi-cheaters who are trying to manipulate the price..
Otherwise I don't take a fuck of care about XPM price drop or rise or even the pseudo-science technical analysis..
Just was interesting to see how tiny and bum your speculation-mentality-spirit is  ;)

It's useful just like astrology.

It works because people believe it does.

Astrology is more accurate than you believe.

No, it's exactly as accurate as I believe it is.

That's how astrology works ;)

Be careful of people that say they have graduate degrees because they tend to not care so much about reading the paper that explains the use of the coin that they are trying to "speculate."

-PoolMinor

Some people read the paper before hastily jumping in to mine and keep for "bump and dump" and meanwhile blindly and stupidly defending the thing invested in like a bum, like a PoolMiner.
About people claiming to have graduate degree, I am not going to discuss it with an average miner like you but if I invite everyone to post Number Theory question, so I ll be able to answering them in the quickest manner.
And about TA analysis, I mentioned before, it was a joke to make bum-spirited bump and dump speculators including you angry.
Seems I have succeeded ;)

Seems my technical analysis became true (I just joked about it to make dirty bump-dumpers angry) Price is ~$0.60 at the moment!

Wrong reasons, was a network issue that broke trust temporarily.

I agree price will def drop though.

bottom callers?