I'm kinda on the fence about liking cryptsy or not...but I use several of Big Vern's pools and they are all well run imho. I don't think he'd be up to something scammy or shady with cryptsy. Again, just my opinion.
It's not scammy, it just lacks some pretty obvious features for traders, like volume info, long session timeouts, and a trollbox  I also find the candlestick chart style hard to read, but that's personal taste. I like the line charts on bitcoinity.org Even when there is no price movement the candlesticks have a bit of wick sticking out each end, the ones on BTC-e don't, so they look cleaner easier to glance. Also get rid of all the zeros padding to the right of each number, it's just visual noise that hinders readability. When you look at a coin trade page on Cryptsy, the first thing you see is zeros all over the place hundreds possibly thousands of zeros that simply don't need to be there. I don't see the point in representing 2,000 as 2000.00000000 |
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plenty of us buying or mining are capable of making our own decisions....for me its all fun no big dollars on the line, and we have a coin we can mine without alot of grunt.
even if I lost on this its been fun to play and learn.
I understand the bit about fun to play and learn. The bit that is the issue, is when people pre-mine millions of coins out of thing air, then expect others to honor them and trade their hard earned BTC for them. |
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even if it was premined it really matters little now, as its already pretty spread out now. I've bought most of mine off people on the forum and now on the exchange.
I mine too slow so even if some where premined it gave people like me the chance to buy up a rock bottom prices.
It matters when you have a coin that's just over a week old, with over 10million in circulation, (10mill took 4 years for BTC to achieve), and 4million of those GLD are in the hands of insiders well before the coin was announced! Tell me about any other pre-mine on that scale? I can't think of another one like that. |
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coinchoose already bumped us up a bit. lol. Numbers. How do they work?
Coinchoose is misleading, it's really there for the flash crowd of miners that pool hop several times a day. It only works on spot price not a more useful average price. It doesn't take volume of trade into account, so you might have what looks like a profitable coin to mine that you can't sell as nobody want's to buy it. |
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Reposted with no explanation: I took a quick look at this coin, this is what I found: - dev premined heavily on this. He first premined 2,000,000 coins (first 200 blocks), called it "bounty" - then insiders heavily mined all the 1000-coin blocks. Said they "should be a day", was finished in just 2-3 hours. This is about another 2,000,000 coins. - after that (about 2pm 5/15), some limited people may start mining, the 1st 2500 blocks (corresponding to 4 millions coins) are already grabbed by the insiders. - it was not until 6pm that day, a formal announcement was made about this coin ( https://bitcointalk.org/index.php?topic=206377.0 - there was a pre-announcement thread before, which later becomes the main thread), by that time, 8000+ blocks are gone. This corresponds to an unbelievable 7,000,000 coins. Guys, does it make any sense to mine a coin like this?? It is complete garbage. You can check the time stamps in the blockchain broswer yourself! I was wondering why on their coin spec it said the first 200 blocks had 10,000coins, I first thought it was a typo as there were some other typos on the page. GLDCoin - a lite version of Litecoin using scrypt as a proof of work scheme.
2.5 minute block targets
Block reawrds in order:
200 Block @ 10000 GLD
2000 Blocks @ 1000 GLD
24000 Blocks @ 500 GLD
22500 Blocks @ 400 GLD
125000 Blocks @ 200 GLD
500000 Blocks @ 100 GLD
~100 million total coins https://github.com/gldcoin/gldcoinMake an interesting contrast to look at the DGC coin launch specs: Specifications
Algorithm: Scrypt
Block Time: 20 seconds - Enough time to minimize orphans but still provide almost instant transactions.
Difficulty: Starts at 0.00024414 - It will take 6-8 difficulty adjustments (or ~13000 blocks) to reach desired difficulty of 1. It re-targets quickly to adjust to the environment, so stability should not be much of an issue. Miners should also find the system adjusts fast enough to be up to date, but not so fast as to make the environment unpredictable and unstable. 6 hours is target time. Every 1080 blocks(6 hours @ 20 seconds per block), the network scales the difficulty accordingly. Example: If target is 6 hours and it took 3 hours to find 1080 blocks, difficulty will increase 200%.
Reward: 20 coins per block, halved every 3 years - Consistent rewards encourage miners to support the network long term. Loyalty is rewarded. This also reduces volatility by setting the foundation on a stable path. Due to the fair launch policy, block rewards will grow in value until they reach the 20 coins per block reward. More details below. 4730400 blocks total.
Coin cap: 200 million.
Block confirmations: 5.
Fair Launch
Block
1080 - Difficulty up until here is 0.00024414. Block reward of 2.
2160 - Difficulty up until here is 0.00024414. Block reward of 1.
3240 - Difficulty up until here is 0.00097656. Block reward of 2.
4320 - Difficulty up until here is 0.00390624. Block reward of 5.
5400 - Difficulty up until here is 0.01562496. Block reward of 8
6480 - Difficulty up until here is 0.06249984. Block reward of 11.
7560 - Difficulty up until here is 0.24999936. Block reward of 14
8640 - Difficulty up until here is 0.98165069. Block reward of 17.
Difficulty will then rise to 1 and the block rewards to 20. The purpose of this is to give a period of time for miners to know about digitalcoin before others can mine too much of it and cause hoarding. The figures above can shift depending on the hash power of the network to smooth the difficulty rise to ~1 level
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The market dictated the value of the coins. Vern simply instituted the mechanism for trading said coins. All the coins added since launch were due to petitioning by miners and/or coin developers and supporters. During beta there wasn't a single coin on the exchange that he didn't have a pool for. A free pool mind you. Of course bag holders are going to be upset when their coin-of-the-week gets massively devalued, penny stock holders probably feel the same way when their investments fall through. The market is decided by... the market. And as stated earlier, if a coin has merit it will survive. Of course, it's always easy to find fault when you look hard enough.
This is nonsense, the market is manipulated every hour of the day with carefully crafted buy and sell orders, you only have to have a look at the bots on Gox to see that. There are people that know what they are doing, and know how to take advantage of miners dumping new coins. |
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Why does theswede75, fenican, hazard who makes scam coins, kinetic915 all circle jerk eachother in the mouth on every new coin release?
All they do is talk shit about every single coin, and make false accusations without backing any of it up with PROOF.
Or they drink so much haterade that they can't help it. Guys keep jerking that circle until your hands bleed and chap.
phaggots
Hazzard:
"this idiot uses a simple random number generator to determie block rewards. guess what happens when i remove that and just return max block reward instead?
i will be posting an altered client that gets 5k coin rewards every time, in the next hour or so. this coin is trash and needs to die."
You don't have them on an ignore list? |
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gldcoin is now at 0.00002000/btc, it has doubled in 24 hours I think it is still around half that price ( I hope so, because I want to buy more at 0.00001 or less) but yes, it has risen substantially in 24 hours. Atm, the sellers want 0.00001350 the buyers are only prepared to pay 0.00000890 so trade has essentially ground to a halt. |
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If you add a chatbox I may be interested in bringing over 600 BTC of volume, plus more from pump n dump members.
For the purpose of pump and dump.
Chatbox would liven things up. |
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For those of us with some BTC to assist DGC go make your commitment to the coin and buy high I did my piece buy through the sellers.
The funny thing is there is no order @ 1btc until 0.00009000 and that's me. Not much demand yet. Most coins on Cryptsy are pretty low volume, it's not really a traders site, more for miners at this stage. Wait and see if DGC gets picked up by a traders site, then it should do better as there are less in circulation than many other alts. |
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All other altcoins are slipping this one's rising... deal with it.
It's not GLD that rising, WDC just passed it on Coinchoose, and the price of GLD on Cryptsy has fallen by over 10% in the last hour. |
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Bribing people to vote?? That is really pathetic.
Didn't work, WDC and DGC are powering away from GLD in the voting. If you look at the value of all the GLD mined so far in USD, it would barely add up to a decent mining rig. I mean seriously 0.00000886 BTC it's going for on Cryptsy That's 0.00000886 x $128 or $0.00113408 or 882GLD to get a dollar coin. Can this even cover electricity? |
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Well so far Cryptsy looks like a dumping ground for miners.
Kind of like one of those wholesale car yards that take the trade ins none of the dealers want.
It is lacking a lot of tools that traders would use, like volume information, high/low/last information without having to mouse over the chart, and it keeps expiring my session too quickly always having to log back in.
I guess miners need a place to dump alts, they don't care about price like traders do.
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GLDCoin - a lite version of Litecoin using scrypt as a proof of work scheme.
2.5 minute block targets
Block rewards in order:
200 Block @ 10000 GLD
2000 Blocks @ 1000 GLD
24000 Blocks @ 500 GLD
22500 Blocks @ 400 GLD
125000 Blocks @ 200 GLD
500000 Blocks @ 100 GLD
~100 million total coins Classic pump and dump! 2mill coins from the first 200 blocks, how can anyone take this coin seriously. |
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ASIC is a general term. GPU were once ASICS if you look back at Apple's Quickdraw accelerator card.
The current crop of BTC mining ASIC's are crude inefficient, there is at least an order of magnitude hash rate to be gained with better smaller designs. I mean lets face it most of the chips out there are 110nm fab clocking at 300MHz. That's 90's tech. not 21st century.
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The price is rising my friend, no worries:D
No its not. the more people adding there coins to the trade list the further value it loses. are coin has 8x the trade volume as any other coin. Well it's the 4th most worthless coin atm, just behind Junkcoing, Royalcoin, and Devcoin. Unless you can fix that it's going to dive at the next difficulty hike. Mining profitability means nothing, if the coin is worthless to hold, nobody will buy it from you. |
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This discussion is regarding an individual who owns ONE Avalon. He's not a manufacturer. Selling it doesn't make sense.
Fair enough I thought it was about Avalon in general. Yes at this point in time, there is much more to be made mining than selling unless you can get tens of thousands for it. |
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Even at 40 GH/s they are making 1.8BTC a day! Why would they be selling it?! Seems fishy to me.
Do the math, there is more profit in selling the gear than using it. Actually, I don't think the math supports it. At current difficulty should be about 8K per month. If it takes them an hour to make a unit and get it out the door its way more profit than mining for an hour. I don't see what a month has to do with it, they don't take that long to build. |
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Even at 40 GH/s they are making 1.8BTC a day! Why would they be selling it?! Seems fishy to me.
Do the math, there is more profit in selling the gear than using it. |
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now sitting on 9000+ 
