alt currencies like quark, nxt, MASSIVE room for boom, /thread

im in!

5000 bitcoins were initially invested and at the time the price was close to $100, that makes it $500k.

Thats all the was initially invested!

With the price of bitcoin increasing, the value is at most 7x more which makes it $3.5m market cap today

Yet somehow the market cap is now $90M! Where did the other $86m of investments come from?? Surely with such a massive investment it's forum here would be way more busy and it would have an established quality website and forums.

Anyone have any idea where the other $85m came from? (look at Dogecoin, its market cap is $10m and its forum page is booming here at 350+ pages and increasing rapidly, thats just an example, but you should get the point that there should be massive attention and talking about mastercoin for it to have that much invested in it)

They can't kill bitcoin,

and you have to understand the economics.

Money WANTS to LEAVE China. The Chinese government doesn't want this. Sadly for them, with todays technology like bitcoin, they can't stop it, they can only slow it (and if theyre not careful the extra attention can make it happen faster)

I was thinking about buying it a few days ago because it seemed promising-- but alas, it's all promises so far. And on top of that, how is the 1 BILLION Nxt coins distributed? Through insider hands who have never seen money before? I'm not too knowledgable on this, but is it 74 random original-investors? If they are not unit, one person can sell off and crash the market

WHICH brings me to my next point-- the price is up 150% in past 24 hours, HOWEVER, the volume is 13m coins. There are 1 BILLION coins total, so that is 1.3%! Additionally, only 250 Bitcoins were traded to bring the price up this high! (and assuming this was all buying volume, which is most defintely wasn't, but for the sake of arguement -- and bitcoins at current market price of about $700, makes it so that about $175k increased the market cap 10 MILLION DOLLARS. Something seems OFF here!  Where are the holders of the other 900 MILLION NXT coins!?

Who has these Nxt coins?

At least quark coin was organized buyers and there's massive strength there- I have no idea what is going on with nxt. This is why I was hesitant to buy it on Tuesday even though the price was .00001 whereas it is .00003 today.



Anyway, I primarily want to know how $175k could move the market cap over $10 million dollars and also, WHO owns all the coins for the price to move up so incredibly with such low (~1%) volume -- have all the coins been released or are they being released in January? (this is VERY important to anyone trading this coin lest their whole investments be wiped out)

The point is Chinese can't wire more than $500 to another international bank without it being a pain in the butt- and they definitely can't do more than $50,000 a year.

This may work to an extent, especially if they offered citizens money to help facilitate this, but I thought of another solution which is-- if people in other countries, like say the US, are content in holding yuan or gold/silver in china, and by doing so, they buy the bitcoins here in the US, make a call over to their business partner in china, who deposits gold in their warehouse in china, and in exchange gets bitcoin, at which point they sell it locally like localbitcoin.com


Finally, China could make bitcoins illegal in China, thats basically their last major step, but I don't think that either would stop the chinese. Everyone wants a good investment, and people are willing to take risks for it if the return is high enough -- if anything it could fuel people to buy it because they'd see it "if it's illegal it must be good" type of mentality.

The Chinese have a lot of money to spend, and they want good returns, virtually nothing else in china is giving a good return or isn't already in a bubble.


This stuff is crazy, but dang, I think it's just begun.

I would be surprised if the Chinese invested less than $50B in bitcoin in 2014 (as of today, the market cap of bitcoin and all alt currencies is less than $10B)


**I should add- in case any readers aren't aware- China does NOT want their yuan leaving the country, thats the whole point of the $50k a year limitation and their making it a pain in the butt to do wire transfers over $500. Also, if money DOES leave China, like it was through bitcoin, it is a major threat to their housing bubble (their housing market is like ours was in 2007- at PEAK high's and VERY expensive and a BUBBLE). Further, because money would ultimately flow from feeding the real estate market to bitcoin, this could cause their housing bubble to pop, and their whole economy with it... (like we saw in 2008, a year after our housing bubble popped).

I'm trying to think it through.

The chinese still definitely want to buy bitcoin (all their other asset classes are largely inflated or dangerous(like their real estate market).

But if 3rd party payment processors are banned, how do the Chinese, buy bitcoin, with yuan, other than buying what already exists?

Ideas?

to talk with people about fellow coins im interested in

welcome to the party, grab a drink and get your party hat on

I should make note too that I got it working via solo mining, just not pool mining

appreciate the help, but that is the form I already have it in(I dont have parenthesis in the actual script)

Hey guys I'm trying to mine, and I keep getting this error, even when picking different cgminer versions to start from:


error:
"pool 0 js0n stratum auth failed"
then it says a server could not be found

But the weird thing is I have tried it with 2 different mining pools and different verisons of cgminer!


here is my startmining.bat file details:
"cgminer.exe --scrypt  -o stratum+tcp://lot.hackshardgaming.net:3333 -(myusername) -p (mypassword)"

(note that I put my username and password in those places)
I appreciate the help!

saw this on zerhedge, its absolutely crazy