cage2.valid-error.com
0 transactions after 65 minutes
It seems that the second pool has a different problem with transactions but they haven't noticed yet because they're in the middle of trying to reconcile the previous pool's problems and get people paid out. I'm sure they'll fix this one too, give it time. If you don't trust them, I suggest switching pools and checking back later to withdraw your balance. |
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Guys, they don't pay out until the block reaches maturity. It will be on a 30-40 minute lag.
I have mined on all the other valid-error pools and even if they have troubles, they fix their mistakes and make it right.
Shit happens, but they are not stealing your hashes.
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Can someone virus check this? |
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Block sizes are 50, not 1-1000000...
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Forgive me because I am not an economics major but I see some flaws with this proposal which you might be able to answer..
This coin is "based" on the US dollar(only because you claim it is) and you are saying that it will be "worth" 0.001 USD per coin.
First - where are you getting this made-up value?
Second - Let's say hypothetically that this coin succeeds down the road and miraculously the US government gets involved and says that it's a legitimate form of currency, suddenly you are *causing an immediate 0.1% inflation to the entire US dollar*. That means it won't happen.
Furthermore, there is currently 1.23 Trillion dollars in circulation in the US. Are you saying that you are releasing 1.230 Quadrillion coins right off the bat to match it?
If so, that would be the highest number of coins released in a single cryptocurrency and with the systems you have in place, there is no theoretical limit to how many will be created.
The system makes no sense, feels like a scam. Prove me wrong.
Edit: Adjusted values for accuracy.
We are merely following the prescription of the Federal Reserve in its Quantitative Easing strategy. So, we mirror the amount and scheduling of the minting of coins in our algorithm. The technique of following the patterns of a successful process is called a 'cargo cult' process. If 1.23 trillion USD is created by Quantitative Easing, the 1.3 billion (not quadrillion) coins will be created. The coin starts out at zero and does not presume that there are any existing coins in circulation. This would mirror the bankrupt state of the U.S. financial system at the time of TARP. Do you recognize parody when you see it? Alright, so in layman's terms this is basically a standard copy/paste coin release except the block volumes and intervals are based on the USD minting rate? Does this also mean that there will be a 1.3 billion coin premine/genesis block or will those coins not exist? The block rate is based on the Federal Quantitative Easing schedule, compressed in time line by 1/5th of the original time and by 1/1000th of the original currency. As mentioned in the quote, the coin starts at zero. I see. I appreciate your patience with my questions but I think it's important that these things be *approachable* if you want them to be popular. dogecoin is about as approachable as it gets and look how successful it's been(as far as exposure and activity). When you start throwing around financial jargon and terms that most people don't understand, things become less approachable and people won't get involved with things they don't understand. That's why I spoke earlier "in layman's terms" because you need to get to the core of what you're doing. So.. True or False; This coin is a scrypt copy/paste coin with block targets and sizes arbitrarily based on the USD "Quantative Easing" program. The value you've given it only serves as a way to decide block sizes, not necessarily the coin's actual value and the coin doesn't offer anything new on the technical side. This coin is targeted to financial folks who understand the financial jargon. If you are looking for a coin for the masses, then maybe dogecoin is your coin. The coin has the typical innovation that most coins out there have. The primary difference is the use of the Federal Reserve's Quantitative Easing schedule. However, the coin is similar in spirit to 'DogeCoin' in that this coin is based on a meme (but one targeted for financial folks). And it's supposed to be huge? Ok. Good luck. |
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This should have the initials [OTG] for One True God
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Forgive me because I am not an economics major but I see some flaws with this proposal which you might be able to answer..
This coin is "based" on the US dollar(only because you claim it is) and you are saying that it will be "worth" 0.001 USD per coin.
First - where are you getting this made-up value?
Second - Let's say hypothetically that this coin succeeds down the road and miraculously the US government gets involved and says that it's a legitimate form of currency, suddenly you are *causing an immediate 0.1% inflation to the entire US dollar*. That means it won't happen.
Furthermore, there is currently 1.23 Trillion dollars in circulation in the US. Are you saying that you are releasing 1.230 Quadrillion coins right off the bat to match it?
If so, that would be the highest number of coins released in a single cryptocurrency and with the systems you have in place, there is no theoretical limit to how many will be created.
The system makes no sense, feels like a scam. Prove me wrong.
Edit: Adjusted values for accuracy.
We are merely following the prescription of the Federal Reserve in its Quantitative Easing strategy. So, we mirror the amount and scheduling of the minting of coins in our algorithm. The technique of following the patterns of a successful process is called a 'cargo cult' process. If 1.23 trillion USD is created by Quantitative Easing, the 1.3 billion (not quadrillion) coins will be created. The coin starts out at zero and does not presume that there are any existing coins in circulation. This would mirror the bankrupt state of the U.S. financial system at the time of TARP. Do you recognize parody when you see it? Alright, so in layman's terms this is basically a standard copy/paste coin release except the block volumes and intervals are based on the USD minting rate? Does this also mean that there will be a 1.3 billion coin premine/genesis block or will those coins not exist? The block rate is based on the Federal Quantitative Easing schedule, compressed in time line by 1/5th of the original time and by 1/1000th of the original currency. As mentioned in the quote, the coin starts at zero. I see. I appreciate your patience with my questions but I think it's important that these things be *approachable* if you want them to be popular. dogecoin is about as approachable as it gets and look how successful it's been(as far as exposure and activity). When you start throwing around financial jargon and terms that most people don't understand, things become less approachable and people won't get involved with things they don't understand. That's why I spoke earlier "in layman's terms" because you need to get to the core of what you're doing. So.. True or False; This coin is a scrypt copy/paste coin with block targets and sizes arbitrarily based on the USD "Quantative Easing" program. The value you've given it only serves as a way to decide block sizes, not necessarily the coin's actual value and the coin doesn't offer anything new on the technical side. |
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Forgive me because I am not an economics major but I see some flaws with this proposal which you might be able to answer..
This coin is "based" on the US dollar(only because you claim it is) and you are saying that it will be "worth" 0.001 USD per coin.
First - where are you getting this made-up value?
Second - Let's say hypothetically that this coin succeeds down the road and miraculously the US government gets involved and says that it's a legitimate form of currency, suddenly you are *causing an immediate 0.1% inflation to the entire US dollar*. That means it won't happen.
Furthermore, there is currently 1.23 Trillion dollars in circulation in the US. Are you saying that you are releasing 1.230 Quadrillion coins right off the bat to match it?
If so, that would be the highest number of coins released in a single cryptocurrency and with the systems you have in place, there is no theoretical limit to how many will be created.
The system makes no sense, feels like a scam. Prove me wrong.
Edit: Adjusted values for accuracy.
We are merely following the prescription of the Federal Reserve in its Quantitative Easing strategy. So, we mirror the amount and scheduling of the minting of coins in our algorithm. The technique of following the patterns of a successful process is called a 'cargo cult' process. If 1.23 trillion USD is created by Quantitative Easing, the 1.3 billion (not quadrillion) coins will be created. The coin starts out at zero and does not presume that there are any existing coins in circulation. This would mirror the bankrupt state of the U.S. financial system at the time of TARP. Do you recognize parody when you see it? Alright, so in layman's terms this is basically a standard copy/paste coin release except the block volumes and intervals are based on the USD minting rate? Does this also mean that there will be a 1.3 billion coin premine/genesis block or will those coins not exist? |
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Let's not forget that this coin is a SCAM and the developer LIED in the coin release and premined MILLIONS of these coins.
There is proof in the original announcement thread.
The developer said that blocks 1-1000 were worth 500 each and they would be premining the first 10.
Blocks 1-10 were worth 150k EACH.
SCAM
wow...I'm still amazed by the anger that people can have. The premine was 1.5M and not MILLIONS, and it was announced at the really beginning. Furthermore this premine is for promotion of the coin ! Why people can't realize that ? Without promotion, the coin goes nowhere, and it's also in your interest ! but you probably don't even realize it... Just FYI, I will already give around 80k on day 1 in bounties and rewards... The premine scam was not announced. It was a flat lie. We were told that blocks 1-10 were worth 500 each and they weren't 80k in bounties and rewards? What about the remaining 1.42 million? Also, the node was unstable, the coin was unmineable and the chain forked because the developer had so much power aimed at it. I wonder what percentage of the first 300 blocks the developer actually got before any of the mining pools or solo miners could actually get it working? 75%? 80%? They are running a CASINO which I have already seen people say they are losing coins on, where do those go? I'll tell you, to the developers. How is it my in my interest if the coin is well promoted? The chain forked and most of the people mining early ended up with orphaned blocks and no coins. Tell you what, send 100k coins to ocScXkk1DJ4zbHe1BpfgpUyJMproS2bnzi as a show of faith that you actually want the coin to succeed and aren't just doing a pump and dump. I'll remove any of my posts speaking badly about the coin and use them for giveaways and bounties and help you promote. Otherwise, just another scamcoin from a greedy developer that claims to be "using the coins for promotion". |
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Let's not forget that this coin is a SCAM and the developer LIED in the coin release and premined MILLIONS of these coins.
There is proof in the original announcement thread.
The developer said that blocks 1-1000 were worth 500 each and they would be premining the first 10.
Blocks 1-10 were worth 150k EACH.
SCAM
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Forgive me because I am not an economics major but I see some flaws with this proposal which you might be able to answer..
This coin is "based" on the US dollar(only because you claim it is) and you are saying that it will be "worth" 0.001 USD per coin.
First - where are you getting this made-up value?
Second - Let's say hypothetically that this coin succeeds down the road and miraculously the US government gets involved and says that it's a legitimate form of currency, suddenly you are *causing an immediate 0.1% inflation to the entire US dollar*. That means it won't happen.
Furthermore, there is currently 1.23 Trillion dollars in circulation in the US. Are you saying that you are releasing 1.230 Quadrillion coins right off the bat to match it?
If so, that would be the highest number of coins released in a single cryptocurrency and with the systems you have in place, there is no theoretical limit to how many will be created.
The system makes no sense, feels like a scam. Prove me wrong.
Edit: Adjusted values for accuracy.
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(As a personal note: I really enjoy the fact that you are able to find a core problem with Ripple (which is in my opinion just not that much of a problem, since BTC solves it nicely instead and Ripple focuses on something else) and articulate this instead of just blurting out one-liners like some other people around here)
I haven't seen him make a single substantive point. All the "problems" he points out exist with Bitcoin too. Remember, Bitcoin possession is very centralised too at the moment. A very small number of people hold more than half of all BTC. I suspect that most people here own more than one bitcoin, some even very many bitcoins. In the long run, if Bitcoin is successful, only the wealthiest of people in the whole world will own that much wealth in cash. For someone who is new to cryptocurrencies, i.e. for most citizens of Planet Earth, there is very little difference between the level of centralisation of both currencies. Is this you justifying how centralized Ripple is? |
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For those of you asking, "cover" in the context of currency would typically mean that it is backed by some kind of commodity.
The US dollar is a cover for their stock of gold. This means that theoretically any time you want to exchange your USD for gold you can.
I'm not sure how these guys plan to cover their crypto(or what it might cover) but it seems far-fetched to me.
It also means that there are 2 possible scenarios;
#1(most likely) - It is a Proof of Stake currency that cannot be mined
#2 - It is a Proof of Work currency that CAN be mined but would be subject to inflation depending on how/what the currency covers.
I don't see this coin happening unless it's formally backed and developed by a government. In that case there would certainly not be any mining but would mean that a country is switching their currency to electronic instead of physical and phasing out cash.
Please take this with a grain of salt, I am making a lot of assumptions, I am not an econ major, I am a high school dropout.
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After reading through this thread I can safely say that I will not be "investing" in Ripple.
Everything about it meets some theoretical ideal that only exists on paper.
And then scam phrases come out like "Anyone can buy and sell Ripple". Oh really? Anyone can buy and sell the US dollar, anyone can buy and sell Bitcoin or Litecoin or any of the other cryptos that have been released over the last year.
The problem is WHO owns the Ripple currency. These developers come up with this whole idealistic system, try to pump it as a business and then say that "anyone can buy Ripple" while leaving out the fact that the only people selling are the developers.
I don't have an opinion on the overall goal of Ripple as a system, but as a currency it's shit. I am not going to hand over money(or cryptocurrency) that I have legitimately worked(or mined) for and wish upon a star that it somehow succeeds. The mere fact that the Ripple system has this 100% premined and centralized cryptocurrency associated with it means that it will not succeed.
/thread
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why can we say crap about Americans, Germans, Chinese etc?
Why is the media bashing Muslims?
Why can't we bully the jews a bit then?
Hypocrites.
Gods chosen people lololololol
Anti Semitism and Stereotypes aren't really on the same level. If I call an American stupid, or fat, that's a stereotype. If I call a Jew greedy, that's Anti Semitism. I would hope people could see a distinction. I admit there is some level of hypocrisy, but not all insults are equal. You can't be serious. Are you? Are you? You think an American stereotype is on par with Anti Semitism? I'm not arguing against the existence of this coin. I won't be mining it after all. It's just interesting that the two are being equated. I don't condone bashing Americans either, but that's like saying a racial slur against a black person is as bad as if someone called me a "cracka". Which is nonsense. A little context goes a long way. "Anti Semitism" is a buzzword. It's meaningless. You people preach equality.... Is Racism a buzzword as well, then? You can't just dismiss something that is a driving force for hatred as a buzzword because it doesn't tie into your notion of what you consider to be offensive or not. Again, this does not offend me. I'm just making an obvious point. Only because you say something isn't offensive doesn't mean it is. The onus is the offended to decide, not the offender. *eats popcorn* |
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Hey Devs, how about you answer the friggin question so we know whether or not we want to waste our time on your coin.
How are the coins generated?
Thats a pretty simple question and should be explained from the start.
It seems like you are purposely not explaining this concept for some reason.
Sounds fishy.
Could possibly be some centralized coin distribution like Ripple.
Also, to everyone saying "oh this is new! this is different! this could work!", adding a fifth wheel to a car is new and different. It's also not better. New does not always equal better. You know what is better? Better is better.
These devs have a lot of explaining to do and they shouldn't be waiting until the minute of the launch to do so.
Bump this shit! How are coins generated?? If this works out these guys are gonna be extremely rich. Like central bankers. It's a proof of stake coin where the devs start out owning 100% of them. No mining. The only way to get them is to buy them. Second fundamental flaw... Proof of stake encourages hoarding and effectively destroys any desire to spend or use as a currency. Premining at it's finest. |
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Being that the coin has "COVER" as stated. I am to assume that this also will work as a POS instead of a POW system?
The POS coins that have been released recently have been interesting on paper but nobody wants them because you can't mine them.
Just sayin'
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Looks like the node is down now too. Wonder if the dev pulled the plug on it.
Really a shame, considering how godawful launches have been, this one had potential.
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hey sighle.. look everyone else sayin the same thing.. whuddyaknow... duhrrrr.
lol, that got you so riled up you had to make 2 posts about it? |
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i'm laughing so hard inside i wanna fuckin punch somebody. so once again.. for the 5th time today.. a coin will be launched without a wallet and 500-1000 blocks will be mined by himself and source-compilers before we the coin-pushers get something to work with.. god i hope this isnt fuckin true but given the history of these types of situations..
noticed how he hasn't responded -once- to delaying the launch for a wallet.. he keeps ignoring these questions and suggestions. Hey FOAMY (OP) go fuck yourself with a pineapple if you pull this shit.
You know why I'm laughing? You say shit like this with pretty much every coin that's released then a day later I see you trying to sell them. Quit trolling. If you don't like it, don't mine it and go somewhere else. |
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