Video on Mt.Gox Protest: http://www.youtube.com/watch?v=ob9Ak1t09Ao#t=198The CEO was asked point blank if he could get his money back or if there are any Bitcoins left. The CEO could not answer. The latest Mt.Gox press release says that you can now deposit Bitcoin, but not withdraw. |
|
|
|
I have given my email...
@Frictionless What is the ETA for release? What do you say to the people claiming you're trolling? Anything to back up your claims of development?
Visit the website www.nexcoin.net and look at the specifications for details on what we are building. Do the folks who claim that we are trolling have any credibility? |
|
|
|
You are only selling 5% to this thread. That leaves 95% to the "Just Click on Interested" crowd and the developers stake. I thought I heard you mention that only 300 people signed up on the website. Something doesn't make sense to me.
Does that mean they will have a bigger stake than the people reserving a deal in this thread?
Can you explain the numbers?
How is the other 95% being allocated?
My opinion is that 5% is way too low for the only group that's actually paying for a stake. Unless I'm missing something, please correct me if I'm wrong.
5% is allocated for this NEX exchange. 1% is allocated for VisaCoin holders. An unknown percentage will be allocated to those 'just interested'. There are at least 500 'just interested' folks, we hope to get much more. Note: NEX is likely not a 100% proof of stake coin due to its very unfair distribution dynamics. Distribution will happen with a mechanism other than proof of work, but it will happen over a period similar to proof of work schemes. Think a year of distribution followed by a low inflation rate. The initial distribution will however be proof of stake, so there is an extreme advantage to be in the initial distribution. This 5% will be used for continuous development and maintenance of the network. A stable set of 20 nodes will be allocated on launch to secure the network. This set will increase over time as the network grows in participation and size. Thanks. How many total coins will be in the initial distribution? Tentatively, 10% of the total distribution of 1 billion coins. So unlike Nxt where all you get from 'forging' is transaction fees, with NEX proof of stake earns you much more. |
|
|
|
Chinese? Here a new one: www.beedui.comIf you wanna ask to add ixcoin, this is the contact: beedui@foxmail.comThe problem with the growing number of exchanges we have to find people starting trading ixc on them, not like c-cex.com where almost nobody has placed a sell order. If we get into a new exchange, then we have to be there, even with an overpriced sell order, otherwise ixc risks to be removed and never return on it. There are more and more exchanges coming up. In fact, there are many really good exchanges that barely have any liquidity. See Kraken and Crypt-Trade , the former is probably the best in technical sophistication. I am arguing however that IXC needs to be in exchanges that expose it to a different audience than Cryptsy and Vircurex. The hole I see right now is the lack of a Chinese exchange. |
|
|
|
On the biggest thing we need from the business perspective is to get better liquidity. Maybe a chinese exchange perhaps? |
|
|
|
You are only selling 5% to this thread. That leaves 95% to the "Just Click on Interested" crowd and the developers stake. I thought I heard you mention that only 300 people signed up on the website. Something doesn't make sense to me.
Does that mean they will have a bigger stake than the people reserving a deal in this thread?
Can you explain the numbers?
How is the other 95% being allocated?
My opinion is that 5% is way too low for the only group that's actually paying for a stake. Unless I'm missing something, please correct me if I'm wrong.
5% is allocated for this NEX exchange. 1% is allocated for VisaCoin holders. An unknown percentage will be allocated to those 'just interested'. There are at least 500 'just interested' folks, we hope to get much more. Note: NEX is likely not a 100% proof of stake coin due to its very unfair distribution dynamics. Distribution will happen with a mechanism other than proof of work, but it will happen over a period similar to proof of work schemes. Think a year of distribution followed by a low inflation rate. The initial distribution will however be proof of stake, so there is an extreme advantage to be in the initial distribution. This 5% will be used for continuous development and maintenance of the network. A stable set of 20 nodes will be allocated on launch to secure the network. This set will increase over time as the network grows in participation and size. |
|
|
|
why i can find me on the email list?
The list has not been updated. |
|
|
|
P.S. Take this for what it is worth... IRS is delaying many income-tax returns by 21 days. (Mostly rich and middle-class people with big returns.) So, poor will actually have an advantage to buy some BTC, or other crypto, before the more wealthy can pump the market. That is my outlook. (My mother works for the IRS, so this is not like news I just read. This is essentially insider-info... lol. Try doing that on a regulated market! I love being the bank!) They must be late cashing-out all those shares from Gox... gotta wait Gox's 21 day withdraw period before they can pay us our tax-returns from the funds taken from silk-road. lol. (She thought that was funny too.)
P.P.S. I also noticed Difficulty is slowing down in growth, yet again... Adding more months of valuable mining to our hash-rates.
I highly doubt the majority of poor people are investing in bitcoin. I think they are investing in groceries to feed their family. Besides, you can't buy BTC with food stamps. FRICTIONLESSCOIN: Since you're out to just resell the hardware for a profit on ebay, should people that are planning on running these miners be listening to you? What you are doing is comparable to standing in line to buy the latest Playstation, then selling it when you walk out of the door with it. Has anyone with questions to AMT about their orders or anything else been responded to? I've seen page after page of the same people asking for updates and not getting response. If you have gotten a response, please post it here. Thanks! I got this message from AMT on Feb 1: Good morning. I see you've sent us many emails.
Based on your order numbers and our assembly que, your miners will ship between Feb 14th and Feb 21st.
All the best
Erik.
In addition, AMT assisted in my selling one of my spots the other day. What is your order #? #962... sold the other day. |
|
|
|
P.S. Take this for what it is worth... IRS is delaying many income-tax returns by 21 days. (Mostly rich and middle-class people with big returns.) So, poor will actually have an advantage to buy some BTC, or other crypto, before the more wealthy can pump the market. That is my outlook. (My mother works for the IRS, so this is not like news I just read. This is essentially insider-info... lol. Try doing that on a regulated market! I love being the bank!) They must be late cashing-out all those shares from Gox... gotta wait Gox's 21 day withdraw period before they can pay us our tax-returns from the funds taken from silk-road. lol. (She thought that was funny too.)
P.P.S. I also noticed Difficulty is slowing down in growth, yet again... Adding more months of valuable mining to our hash-rates.
I highly doubt the majority of poor people are investing in bitcoin. I think they are investing in groceries to feed their family. Besides, you can't buy BTC with food stamps. FRICTIONLESSCOIN: Since you're out to just resell the hardware for a profit on ebay, should people that are planning on running these miners be listening to you? What you are doing is comparable to standing in line to buy the latest Playstation, then selling it when you walk out of the door with it. Has anyone with questions to AMT about their orders or anything else been responded to? I've seen page after page of the same people asking for updates and not getting response. If you have gotten a response, please post it here. Thanks! I got this message from AMT on Feb 1: Good morning. I see you've sent us many emails.
Based on your order numbers and our assembly que, your miners will ship between Feb 14th and Feb 21st.
All the best
Erik.
In addition, AMT assisted in my selling one of my spots the other day. |
|
|
|
jubalix, you seem to have some good understanding of the issue, and raise some important points.
All people currently involved in these "exchanges" know next to nothing about how they work (sorry folks). Anyone who has worked in this area for long enough would be able to tell. The model of the future is going to be very different than most currently imagine. having said that those in traditional institutions have no idea what's coming and are generally completely ignorant of the potential.
There are several major reasons why the current P2P-EXC models are flawed:
* liquidity has to be "centralised". this is because orderflow is time-ordered. if you have order_1, ...,order_N, then each depends on the other. this is completely different than the blockchain for most (not all) goods. on the blockchain the tx (tx_1, ..., tx_n) are largely independent of each other (otherwise the block mechanism would not work!). arbitrage insures that liquidity flows to the most efficient pool, which is going to be "central" (although might be distributed in a different sense).
* clearing. seriously, authors of current schemes don't even know what that means. without clearing, you don't really have trading of assets. and for clearing you need a lot of infrastructure, which will take years to build, and nobody hasn't even started. there are so many complicated issues. for example if you know how complex the stock market in its relation to the legal system is, you'll know what I mean.
* laws. assets are rooted in a legal system, which grants rights to asset-holders. without those rights, most assets are really worthless. no investor would be so stupid to invest in virtual shares, without these rights, because loss is almost certain. the idea of launching a "stock market" on top of the blockchain is just ludicrous. nobody wants to lose money, when the counterparty just runs away with the money. those who believe an investor can live without rules, just hasn't invested any real money. how do you properly measure sales and income without fraud? what does rights does an equity holder have in case of bankruptcy vs a bond holder? how are dividends treated? etc.etc. not that the current system is that good, but we have exchange laws, GAAP, IFRS, and so on. these matters are highly non-trivial. I'm not saying laws as they have existed should exist in the future. but again, if you have serious money on the line, you want protection of your rights.
The community will be better off in thinking more deeply about why institutions exist. it takes much more profound understanding of the mechanisms, which you basically only know if you've studied economics deeply. having said that, new models are possible, but it will require more serious work, instead of amateurs working on it. the problem is that it requires deep technical knowledge of several fields (technical and economical). you can't just ignore the economic side.
Very good insight. I agree entirely. A lot of coins keep focusing on the technology side but are unable to see the big economic picture. Anyway, if you want to explore this more, I would like to discuss this in light of the direction of NEX. |
|
|
|
Guy's, Are you blind or what? Yesterday AMT silently admited that this is their design and power usage Correct? Today it seems that this stuff is not working right? And you are starting some bulshit for alt cons BTC price and stuff I am wandering Are you REAL AMT customers? Do you care about what you are going to get, when you are going to get it, how stable will it work, how many GH will it make, what power will you need? that is the stuff real miners care. And you are not acting like such! or at least you do not care  Dam i need to take my pills too seems that i am crazy  I will be honest with you. I don't really care. The reason, mining hardware on the open market sells for $10 per GHs. If AMT delivers a 1.2 THs machine in two weeks, that will fetch immediately $12,000 on eBay. So all these details about power consumption. I don't care. I only care about a prompt and early delivery. |
|
|
|
Nice stats... 862GHs at about 0.16554912 BTC per day... (That is not quite a 1.2THs miners results, if it is, you are getting raped by the pool.) That is roughly 4.9664736 in 30 days... (But lets assume 2-months, with the slowing network growth.) What price will you be cashing-out at? Who actually mines BTC directly? I would not be cashing-out until BTC reaches $1000+ again... Total units estimated over the life of that machine above, would be about 12.65BTC, over a 2 year period... What will BTC be then? $30,000 per BTC, or back down to $30 per BTC... Who knows... no-one... But most believe it will be higher, so assume 10% of the worst estimates from people who actually know what they are talking about. Looks like BTC is having a hard time pushing through $500 again... All those alts cashing-in for pennies on the dollar. That'll fade, until summer-time, when it returns to something around this price again. The good news is that BTC seems to be on the floor. The bad news is that the money is under the floor. (I like to point out the obvious.) You don't make money if the market doesn't move! (That requires it to go up AND down. Thus, "Motion".) BTC on sale now 60% off! How many times during the lifetime of BTC that it has become extremely unprofitable for miners? Happens all the time, and when you least expect it... boom... all of a sudden BTC is profitable again! BTC is an economic system where the cost of mining places a floor on the actual price. The alt-coin aren't really detrimental to the price of Bitcoin. That's because alt-coins are also a source of demand for Bitcoins. There is no way to buy an alt-coin without converting your fiat into Bitcoin. However Bitcoin dwarfs all alt-coins combined. What is very interesting though is that all mined coins have a natural seller in the miners. If you look closely at coinmarketcap.com you will not a couple of 'unmined' coins, MSC, NXT and Ripple. The price of these are higher than many other crypto-coins. The reason is that there is not natural seller. The selling of miners of the coin actually is a downward pressure on the price of the coin, that couple with the constant dilution. What is absolutely amazing is that the price of Bitcoin and a few other coins do actually rise over time!!! That mean, these prices are truly extremely stable. |
|
|
|
|
Spreadsheet updated.
695248 Nxt pledged.
|
|
|
|
A lot of IXC coins may actually be sitting in BTC-E wallets! People may have not even bothered to withdraw them when they closed down IXC 2 years ago.
btcguild used to run an ixcoin pool before merge mining. when they shut it down they gave miners a week to withdraw the funds. after that they deleted the wallets. i'm sure there were a lot of coins in there then. Well, deleting wallets will definitely cause a lot of coins to disappear. Do you know when this happened and for how long was BTCGuild was merge mining iXcoin? |
|
|
|
Negative. If that were the case I would of already pursued a refund from AMT.
I simply want some professionalism (as well as my Miner) from AMT.
I guess i'm asking for the impossible.
Frictionlesscoin: No offense, but your theory about AMT not being interested in retail - and wanting to distribute these miners on a larger scale, is pure speculation. If it is true, they've gone about it in the complete worst way possible.
Agree, it is pure speculation. However, AMT did not deny this. They however denied that they were working on a farm. AMT hates dealing with customers, so going wholesale is in their best interests. Why deal with hundreds of unsatisfied customers like you? |
|
|
|
Raskul,
What do you mean you short sell Namecoin and Bitcoin? How's that possible?
as soon as my mined coins are mature, i sell them, a short sell (not holding long) - i guess it's just a turn of phrase. i use margin calls on stuff like oil and kazakhmys, but I don't mine oil or copper... just dabble with the shares in them Well I frequently go on margin with Bitcoin or Litecoin just in the event of a buying opportunity (like today). What are you guys talking about? I'd live to buy on margin but nobody offers it. And there's no way to go short BTC either. If there is I'd like to know how. Thanks. I'm surprised Vlad that you don't know how to short BTC. You can short BTC, buy/sell futures on BTC, exchange hash rate for BTC, loan out USD to BTC speculators.... where have you been all these months? ! |
|
|
|
Did you have to run additional circuitry to have them run in the garage?
I plan on upgrading my garage since my basement doesn't have the required wiring.
lol, edited that missing info above, but to reply directly... Yes, I had three breakers at 40a, and had to add another 5 breakers at 20a. The 40a was for power-tools with intermittent high-amp use. The 20a was for each computer, to sustain the constant amp use. Gave me room to play, but I used standard wiring... Should have upgraded the wires... Now I may have to. I used the pool-pump breaker for my porch-units. The pool is now a pond with Koi, and no running pump.  Did you do it yourself or did you have someone do it for your? Did you have to take out dry wall to install the wiring or you just have them exposed? |
|
|
|
Hell, my rigs are not legal to run in the house. They live out in the garage, and the back porch. They like the humidity and open air... Even at 95F. Did you have to run additional circuitry to have them run in the garage? I plan on upgrading my garage since my basement doesn't have the required wiring. |
|
|
|
|
Haven't updated the spreadsheet, but it looks like there are around 700,000 Nxt Pledged so far.
300,000 Nxt to go and this offer closes!
|
|
|
|
6 cards (48 chips), running non-optimized deliver 222GHs peak (at an unspecified operating voltage). This is a total of 1,332GHs or 1.332THs peak, in normal mode. (Not Max, because that would be "turbo", and that is not how these are being setup.)
By those estimates, the projected 6x (48 chips), would operate within specs, slightly below the "chips" "normal voltage". Which, for the AMT 1.2THs miner, would be the units "normal operating voltage", or "stock setting".
Hope AMT is generous with the first production of non-optimized and heavily-populated boards. (Would like to know what the chip-count would be for the units still... Anything over 48 would be freaking great! But 48 would be plenty still. 1.8THs potential from a 1.2THs machine, and I am happy.)
Well if Bitcoin.ch advertised their units at 1 THs systems and are shipping 5 modules, then I do expect AMT to ship with 6 modules at 1.2 THs. Will this break the bank? At $90 per chip x 48 = $4,320 add $500 for everything else... $4820... list price $5999... still enough room to make decent profit. AMT will need to make a 48 chip system profitable at $5,999. Cointerra is already at $5,999 and is advertised at at least 1.6 THs. Not really. Industrial psu is needed plus possible design issues. 6 module design is not option in their current stage of development is what I think Well they have no choice about the 6 module system. Bitmine.ch advertises their system at 1 THs with 5 modules. How do you think it will look if AMT sells a 1.2 THs system with the same 5 modules that Bitmine.ch sells? |
|
|
|
|
Show Posts
