Their rebrand would have to blow me away and if world dollar is it then that's a joke and it's not happening.
You wanna change it up a little to shed that bad history?
Ok, xCoin would work and it's a name that really works and I think we can even keep the new design logo as the i just denotes personal ownership.
Who here would prefer xCoin over world dollar?
Folks... no rename... if you want to preserve the fact that it is 2 1/2 years old, you have to keep the name. Not open for discussion. That's even better. And I think people will find saying xCoin easier over time and the name will morph itself. I find myself doing it sometimes so I think it's gonna happen with most people. Okay, name is not negotiable. Red is not negotiable with the logo. ;-) |
|
|
|
|
Got one technical question....
How do you prevent a Level 2 coin from being exchanged?
Are we saying that once it is attached to an address, it can never be moved to another address?
|
|
|
|
Their rebrand would have to blow me away and if world dollar is it then that's a joke and it's not happening.
You wanna change it up a little to shed that bad history?
Ok, xCoin would work and it's a name that really works and I think we can even keep the new design logo as the i just denotes personal ownership.
Who here would prefer xCoin over world dollar?
Folks... no rename... if you want to preserve the fact that it is 2 1/2 years old, you have to keep the name. Not open for discussion. |
|
|
|
World Dollar?
That's stupid. The dollar is going to collapse; any name associated with it will be like the plague. Let's get real here, iXcoin is an interesting name on many levels and the new redesigned symbol is great.
IXcoin will later morph itself into simply xCoin which is nice on many levels.
If you wanna morph it now into xCoin then great, we wouldn't even need to change the trade symbol since the arrows in the design point to the X and the i denotes personal ownership like the i in iPhone. Clever and catchy.
And why is the debate of our coin set to take place on tricend? What?
Bitches, this is our home, our coin, you wanna change our coin then you come to our house and discuss it.
Agree... "World Dollar". Lame.... IXC much better... I mean, you can brand anything. DC shoes for example (which we take inspiration from in our logo). What the hell does D.C. mean? Well, it apparently is popular among the youth. |
|
|
|
Let me make something clear to whoever is trying to hijack iXcoin.
A) I saw you coming since day one.
B) I don't care who you are - I'm no anarchist and I know full well what these digital currencies are intended for - I know the end game and I'm good with it.
C) I own over 600,000 iXcoins, 3% of the final 21 million.
D) What that means is that if you fuck with the fundamentals of this coin I will fork this mother fucker into oblivion. Don't underestimate me, I've got a big mouth, I can make a lot of unpleasant noise and I am good at convincing people of my cause.
iXcoin already has a bad rep, if I fork it nobody will ever touch it. So play nice and don't throw your shit around cause you're the new kid on the block: The name stays. The fundamental protocol stays.
- Otherwise do as you fucking please, ya Bankster mother fuckers, and you've got my full support.
Vlad, I would not be all worked out about it. If some other entity wants to rebrand something because they believe it'll boost interest, then I have no issue. I am perfectly content with the IXC coin name, it isn't as catching a Dogecoin, but it does mean something. Besides... we already have a pretty cool logo! |
|
|
|
There's no forkin' way we're forking. Friction, is that you on reddit or has my prediction come true and JP Morgan has sent in a dev. Aha! Edit: I just read the reddit post. That's the banks: iXcoin has just been hijacked [by the likes of JP Morgan] just like I've been saying since day one.Moreover, that's Frictionless' writing style. It's Friction and I was right about the fact he's been hired. Finally, I agree to everything except a namechange - NO name-change. There's nothing wrong with the name, it resonates fine. And what new website? All the good domains are held by fools like Thomas. Interesting. That's not from us. We are also pretty satisfied with IXcoin. Now, looks like someone wants to rebrand. The problem with the a rebrand is that you can't tie it back to its long history of being around for 2 1/2. If any coin needs a rebrand, it is likely i0coin. (oh.... just to point out, we are using the collective pronoun because FrictionlessCoin is a company). 2 developers and 1 tester at present. Vlad, we are on the same page with you, no rebrand of the name. Now if they want to build a coin with a different name and on the same block chain, that's a none issue. Kind of like IXC is a white label for all sorts of coins. Which incidentally is what we want to happen with NUCD. |
|
|
|
I like this one:  I am leaning towards a red and black theme for everything. Maybe you want that in red? |
|
|
|
Totally impressed with your work. You're my goto guy for logo design! |
|
|
|
Why should security be the sole responsibility of the account holder? If my house got broken into I wouldn't expect people to blame me for not storing my wallet in a safe.
Nor would I expect my bank to let someone crack my credit card pin and not alert me something was up.
Madness.
So, if your house will be broken, you will blame doors manufacturers, because the cheapest doors are not secure enough? I feel sorry for people who had their NXTs stolen, but I don't think that it's developers fault. I think in this case, the developer is partly to blame. Bitcoin public / private keys have been quite secure for 5 years now. But the developer of Nxt decides to come up with his own novel strategy that encourages accounts from being hacked. Nxt is likely the only crypto currency where you routinely hear people complain about their individual wallet being hacked. The inside joke is that you can mine Nxt wallets using GPU farms. Anyway, NEX already has made the necessary code changes to use bitcoin technology rather than the flimsy one used by Nxt. Consider NEX like 'industrial strength Nxt'. |
|
|
|
Please reserve. 900 nxt for 45000 nex
Please use link that is referenced in the first post. |
|
|
|
"In summary, this looks like an excellent idea. Pre-launch NEX coins will be LV1 coins and new coins will be LV2 coins.
This proof of burn functionality is superior to the 'forging' feature of Nxt.
The best way to think about this is to make the analogy between banks and enterprises.
Actually, I should rename the LV1 and LV2 coin, "NEX Invest Coin" and "NEX Enterprise Coin" .
With the NEX Invest Coin you get 5% interest. You never lose your principal.
With NEX Enterprise Coin you consume NEX Bank Coin but in the process you stand to gain 25% of what you gain.
It is actually a quite excellent and simple system.
Here is a rephrase of the original description:
NEX Invest Coin (NIC) coins are the name of the currency that will be distributed initially. These are the coins that will be on exchanges and can be bought and sold. These coins will generate 1 additional NIC coin per week for every 1,000 NIC coins that you own (updates fractionally on the blockchain every 15 seconds and are rounded up to the nearest millionth). This means that in one year of holding 1,000 NIC coins, you will receive roughly 50 NIC coins, or 5% per annum.
NEX Enterprise Coin (NEC) coins can only be obtained by burning NIC coins. For every 1,000 NIC coins that are burned you will receive one NEC coin. These coins can not be exchanged, sold, or discarded by any means and will be attached to the wallet indefinitely. Each NEC coin will generate five NIC coins per week. In one year of holding one single NEC coin, you will receive roughly NIC LV1 coins. This equates to an increase of 25% per annum.
Note: The only coin that is tradeable is NIC... so NIC is synonymous with NEX (the NEX currency symbol)" This seems all honkey dorey until you actually sit down and do the math. This may seem like a "worst case" scenario, but we can assume it will be the real world scenario as it is based on the entire premise of this coins foundational function and nets the most gains for any given participant (even though the long term results are disasterous). To consider any other scenario would be to assume that no one takes advantage of the Lvl 1/Lvl 2/burn/inflation/deflation system, which self nulifies any argument attempting to do so as it renders the purpose of the feature and their basis moot. You have to throw either the NEX system or game theory out the window. I think we know what the result of that ends up being. We can assume that everyone will burn immediately, forgoeing the 1 NIC/week *ANPI (5%) for the 5 NIC/week *NICS inflation (25%) right away. I realise that everyone may not burn at the exact same time, but it is in their best interest to burn immediately so it's a practical and safe assumption. Provided that doesn't insta-kill NEX as the money supply would meaningfuly deflate to nothing on its release, (albeit temporarily, as it technically reinflates over time), we can proceed with the excersize normally. (*See below for meaning of ANPI and NICS acronyms) So let's have a closer look, shall we. Our Baseline is 1 Billion NIC and 0 NEC. But remember that we burn immediately. Well use an arbitrary 1 year period as our time scale in this excersize for the sake of simplicity and organization. NEC Inflation ------------- 1000 NIC Burn = 1 NEC Total NIC supply (TNICS) / 1000 = NEC Supply (NECS) NECS + Previous years NECS = Total NECS (TNECS) NIC Supply (NICS) ----------------- 1 NEC creates 5 NIC/week. So, Total NEC Supply (TNECS) x 260 (5x52 weeks) = NIC Supply (NICS) Annual NIC Passive Inflation (ANPI) ----------------------------------- 1000 NIC = +1 NIC/week (NIC Supply (NICS) / 1000) x 52 (weeks) / 2 = Annual NIC Passive Inflation (ANPI) NICS + ANPI = Total NIC Supply (TNICS) *Why do I divide by 2 to get ANPI? After the first "mass burn", the NIC supply shrinks to zero and slowely inflates, all the while generating NPI units at the +1/1000 NIC a week. To simplify, we will divide this calculation by half and consider that the average increase. I consider this an effectively safe calculation assuming that burns happened at random as well. I think that's being fair and generous in the favour of NEX. All numbers have been rounded to the nearest thousand(th) for the sake of simplicity. TNECS (Mil) NICS TNICS -------------------------------------------------------- Y0 - Immediate burn of the NIC supply = 0 <--- Only real deflation of the money supply (but we can see already this is just a trick up NEX sleeve) Y1 - 1.0 260,000,000 + ANPI = 266,760,000 Y2 - 1.267 329,420,000 + ANPI = 337,985,000 Y3 - 1.605 417,300,000 + ANPI = 428,150,000 Y4 - 2.033 528,580,000 + ANPI = 542,323,000 Y5 - 2.575 669,500,000 + ANPI = 686,907,000 Y6 - 3.262 848,120,000 + ANPI = 870,171,000 Y7 - 4.132 1,074,320,000 + ANPI = 1,102,252,000 Y8 - 5.234 1,360,840,000 + ANPI = 1,396,222,000 Y9 - 6.630 1,723,800,000 + ANPI = 1,768,619,000 Y10 - 8.399 2,183,740,000 + ANPI = 2,240,517,000 Y11 - 10.644 2,767,440,000 + ANPI = 2,839,393,000 Y12 - 13.483 3,505,580,000 + ANPI = 3,596,725,000 After evey mass burn, the money supply (NIC) will effectively go to zero and slowly inflate to its maximum amount when the next burn will happen. The volatility caused by massive shrinking and expanding of the total money supply is insane for obvious reasons. Even if this does not happen in a nice clean manner as described, it's an uphill argument to say there wouldn't be massive fluctuations in the money supply. Note that the first burn is the ONLY year that causes an actual meaningful deflation (but we see it's an illusion if we look at the proper time scale). Looking 7 years into the future a problem peaks its head out. Look at year 8, 9, 10 and its obvious where this is going. We can easily conclude that it gets exponentially worse from there, going further into hyperinflation with disasterous results. This system is a combination of disasters that would make bitcoins volatility look like a blip on the chart. This is the zimbabwe dollar of crypto. Here's another potentially fatal consideration. If burning NIC to NEC nets 25% per annum, why would anyone ever hold NIC?! It's easy to see that everyone would likely burn any NIC they ever get straight to NEC to put it to work generating more NIC. This nulifies the NIC supply (the actual money) and hyperinflates the NEC supply (the static, wallet digit. AKA, useless except to generate more NIC which will be burned to generate more NEC, ad infinitum). The only time anyone will hold NIC will be to sell it. NEX would self destruct from either the currency (NIC) supply being perpetually burned to non-existence and/or becoming a game of hot potatoe until the value drove itself into the ground. I'm better with logic than mathematics so forgive any crudeness in the latters organization/presentation. Feel free to crack my reasoning/math apart. Maybe I have made a simple mistake, but it seems pretty solid to me. Even without the math, the second argument is pretty fatal to the concept. Conclusion? NEX is bullshit. The only "feature" separating it from Nxt is VERY fataly flawed. Is fictioncoin knowingly pushing broken garbage to take 1 mil Nxt out of the pocket of Nxt investors and put it in his? Maybe, maybe not. Can you trust the person's thinking that brought you a system this flawed? That's for you to decide. My personal opinion is NO. This whole "IPO" is pretty stinky, along with the other "projects" I've seen him involved in. I'd be cautious, skeptical and highly suspicious. Thank you for analysis. The proof of burn feature will not be with the Nxt clone. |
|
|
|
|
We will pay 100 IXC for the winning submission.
We will also distribute 50 IXC to the two how made contributions.
Please leave your IXC address here.
|
|
|
|
Gentlemen, Let me know if this the final design. If so, we can award the bounties. Thanks! |
|
|
|
Slight shadow tweak as suggested:
IXC donations appreciated: xo5oZh3GKEN8vrMr4GXUu9qwohCocqz7R7
Please offer sm3ck some as well; his was the main inspiration for mine. Also newflesh.
Winning entry gets the 100 IXC bounty. We will add 50 IXC each for the two who made contributions. This will include sm3ck. So far it is between jimhsu and newsflesh. I think we have a lot of good comments from the team. |
|
|
|
Wikipedia article Hi, I do not know anything about Wikipedia rules. I just tryied to put an article on wikipedia. After 10 minutes eveybody was beating my ass. I asked iampingu to help me out. He seems to be a smart guy. But it's true the more an article receive support from the community, the more the chances to be accepted. Can you give, even if very tiny, a contribution to the article? In a few days they are gonna remove iXcoin file, May I count on You all? Thanks Please register on Wikipedia and give your support to the article. What I wrote is just a partial draft: https://en.wikipedia.org/wiki/IXcoin +1 ... try using the stuff in the press release. |
|
|
|
"In summary, this looks like an excellent idea. Pre-launch NEX coins will be LV1 coins and new coins will be LV2 coins.
This proof of burn functionality is superior to the 'forging' feature of Nxt.
The best way to think about this is to make the analogy between banks and enterprises.
Actually, I should rename the LV1 and LV2 coin, "NEX Invest Coin" and "NEX Enterprise Coin" .
With the NEX Invest Coin you get 5% interest. You never lose your principal.
With NEX Enterprise Coin you consume NEX Bank Coin but in the process you stand to gain 25% of what you gain.
It is actually a quite excellent and simple system.
Here is a rephrase of the original description:
NEX Invest Coin (NIC) coins are the name of the currency that will be distributed initially. These are the coins that will be on exchanges and can be bought and sold. These coins will generate 1 additional NIC coin per week for every 1,000 NIC coins that you own (updates fractionally on the blockchain every 15 seconds and are rounded up to the nearest millionth). This means that in one year of holding 1,000 NIC coins, you will receive roughly 50 NIC coins, or 5% per annum.
NEX Enterprise Coin (NEC) coins can only be obtained by burning NIC coins. For every 1,000 NIC coins that are burned you will receive one NEC coin. These coins can not be exchanged, sold, or discarded by any means and will be attached to the wallet indefinitely. Each NEC coin will generate five NIC coins per week. In one year of holding one single NEC coin, you will receive roughly NIC LV1 coins. This equates to an increase of 25% per annum.
Note: The only coin that is tradeable is NIC... so NIC is synonymous with NEX (the NEX currency symbol)" This seems all honkey dorey until you actually sit down and do the math. This may seem like a "worst case" scenario, but we can assume it will be the real world scenario as it is based on the entire premise of this coins foundational function and nets the most gains for any given participant (even though the long term results are disasterous). To consider any other scenario would be to assume that no one takes advantage of the Lvl 1/Lvl 2/burn/inflation/deflation system, which self nulifies any argument attempting to do so as it renders the purpose of the feature and their basis moot. You have to throw either the NEX system or game theory out the window. I think we know what the result of that ends up being. We can assume that everyone will burn immediately, forgoeing the 1 NIC/week *ANPI (5%) for the 5 NIC/week *NICS inflation (25%) right away. I realise that everyone may not burn at the exact same time, but it is in their best interest to burn immediately so it's a practical and safe assumption. Provided that doesn't insta-kill NEX as the money supply would meaningfuly deflate to nothing on its release, (albeit temporarily, as it technically reinflates over time), we can proceed with the excersize normally. (*See below for meaning of ANPI and NICS acronyms) So let's have a closer look, shall we. Our Baseline is 1 Billion NIC and 0 NEC. But remember that we burn immediately. Well use an arbitrary 1 year period as our time scale in this excersize for the sake of simplicity and organization. NEC Inflation ------------- 1000 NIC Burn = 1 NEC Total NIC supply (TNICS) / 1000 = NEC Supply (NECS) NECS + Previous years NECS = Total NECS (TNECS) NIC Supply (NICS) ----------------- 1 NEC creates 5 NIC/week. So, Total NEC Supply (TNECS) x 260 (5x52 weeks) = NIC Supply (NICS) Annual NIC Passive Inflation (ANPI) ----------------------------------- 1000 NIC = +1 NIC/week (NIC Supply (NICS) / 1000) x 52 (weeks) / 2 = Annual NIC Passive Inflation (ANPI) NICS + ANPI = Total NIC Supply (TNICS) *Why do I divide by 2 to get ANPI? After the first "mass burn", the NIC supply shrinks to zero and slowely inflates, all the while generating NPI units at the +1/1000 NIC a week. To simplify, we will divide this calculation by half and consider that the average increase. I consider this an effectively safe calculation assuming that burns happened at random as well. I think that's being fair and generous in the favour of NEX. All numbers have been rounded to the nearest thousand(th) for the sake of simplicity. TNECS (Mil) NICS TNICS -------------------------------------------------------- Y0 - Immediate burn of the NIC supply = 0 <--- Only real deflation of the money supply (but we can see already this is just a trick up NEX sleeve) Y1 - 1.0 260,000,000 + ANPI = 266,760,000 Y2 - 1.267 329,420,000 + ANPI = 337,985,000 Y3 - 1.605 417,300,000 + ANPI = 428,150,000 Y4 - 2.033 528,580,000 + ANPI = 542,323,000 Y5 - 2.575 669,500,000 + ANPI = 686,907,000 Y6 - 3.262 848,120,000 + ANPI = 870,171,000 Y7 - 4.132 1,074,320,000 + ANPI = 1,102,252,000 Y8 - 5.234 1,360,840,000 + ANPI = 1,396,222,000 Y9 - 6.630 1,723,800,000 + ANPI = 1,768,619,000 Y10 - 8.399 2,183,740,000 + ANPI = 2,240,517,000 Y11 - 10.644 2,767,440,000 + ANPI = 2,839,393,000 Y12 - 13.483 3,505,580,000 + ANPI = 3,596,725,000 After evey mass burn, the money supply (NIC) will effectively go to zero and slowly inflate to its maximum amount when the next burn will happen. The volatility caused by massive shrinking and expanding of the total money supply is insane for obvious reasons. Even if this does not happen in a nice clean manner as described, it's an uphill argument to say there wouldn't be massive fluctuations in the money supply. Note that the first burn is the ONLY year that causes an actual meaningful deflation (but we see it's an illusion if we look at the proper time scale). Looking 7 years into the future a problem peaks its head out. Look at year 8, 9, 10 and its obvious where this is going. We can easily conclude that it gets exponentially worse from there, going further into hyperinflation with disasterous results. This system is a combination of disasters that would make bitcoins volatility look like a blip on the chart. This is the zimbabwe dollar of crypto. Here's another potentially fatal consideration. If burning NIC to NEC nets 25% per annum, why would anyone ever hold NIC?! It's easy to see that everyone would likely burn any NIC they ever get straight to NEC to put it to work generating more NIC. This nulifies the NIC supply (the actual money) and hyperinflates the NEC supply (the static, wallet digit. AKA, useless except to generate more NIC which will be burned to generate more NEC, ad infinitum). The only time anyone will hold NIC will be to sell it. NEX would self destruct from either the currency (NIC) supply being perpetually burned to non-existence and/or becoming a game of hot potatoe until the value drove itself into the ground. I'm better with logic than mathematics so forgive any crudeness in the latters organization/presentation. Feel free to crack my reasoning/math apart. Maybe I have made a simple mistake, but it seems pretty solid to me. Even without the math, the second argument is pretty fatal to the concept. Conclusion? NEX is bullshit. The only "feature" separating it from Nxt is VERY fataly flawed. Is fictioncoin knowingly pushing broken garbage to take 1 mil Nxt out of the pocket of Nxt investors and put it in his? Maybe, maybe not. Can you trust the person's thinking that brought you a system this flawed? That's for you to decide. My personal opinion is NO. This whole "IPO" is pretty stinky, along with the other "projects" I've seen him involved in. I'd be cautious, skeptical and highly suspicious. Thank your for the analysis. It is quite long, but we will take time to review the concerns. We did not read the entire post, however we notice the conclusion. Why should making this offer to Nxt holders to be an issue? Nxt after all is meant to be spent. If Nxt holders have the opportunity to spend their Nxt on something of value, then should they not be given that opportunity? |
|
|
|
Turns out that FC is even busier: https://bitcointalk.org/index.php?topic=423538.0Didn't even notice that he'd launched FrictionlessCoin the currency. Shall we make a list: NEX, FLC, iXcoin, ZenithCoin...any more? How does FC find the time for all that dev work? Going to sell my iXcoin right now, btw. Thank you for selling your iXcoin! Someone has to sacrifice himself to increase liquidity of iXcoin. Well appears the NXT gang are trying to discredit the name with a fake posting. Reality is NXT is poorly designed and has a major flaw. In time people will realize this. |
|
|
|
Here is the updated icon  If you all like it, then we can pay bounties to the graphic artists. |
|
|
|
So every produced picture or document can get an indelible proof of date of creation or trasmission of it, avoiding legal issues linked to the time it was produced/delivered (e.g. to prove a certain file o software existed before -> copyright protection).
Question: can it be applicable to iXcoin considering the 2015 deadline? Will the mining still be used to produce, instead of coins, valid stamps?
Every coin can validate 100.000.000 documents. It seems a lot, but if extensively used, ixcoin would be in a better position being able produce to more "coins".
Yes, of course. The 2015 deadline is just for mining new coins, but the block chain continues to run. The reason I brought this up is that in most cases bitcoin doesn't want't their block chain to be polluted with a lot of junk. However, IXC right now has like 50% of BTC hash rate, but its block chain is mostly clean. You can download the entire block chain in less than an hour! Anyway, that is the general thought. Anything application that can pollute the Bitcoin block chain in an ideal candidate for implementation of iXcoin. |
|
|
|
|
Show Posts
