Did the press release abou IXC come out?
No it has not yet been released. |
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Maybe relate it to "X marks the spot"? Marked coins. Mark a coin with your "X" - your arbitrary label, name, mark?
"I 'X' this Coin... Let X be a gram of gold."
"I 'X' that Coin... Let X be a share of my company."
Etc.
Mind you, when minting stops the limited number of the coin existing might drive the price out of reach just as Bitcoin prices seem to be driving the use of Bitcoins as marked coins for low value items out of reach. Maybe in the end a coin that keeps minting forever will turn out to be where at least the low end (low value) marked coin applications will tend to go.
-MarkM-
I think we can adjust the dust threshold can always be reduced over time. |
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Probably that's the reason why iXcoin is still dragging: nobody gets colored coins. Me first. Yes, looks like a great idea, but if I should convince someone about the value of colored coins, why the cryptoworld will welcome them so much, why ixcoin is supposed to end up in the center of this project and not bitcoin, how this project is gonna affect the market, why people will feel the need of it, well ... I could not do it. Why? I am the first with a foggy view of it.
When a nobody like me will be able to get it, it means you had made it understandable to everybody. Can you?
Great point. I know just the guy. lol. Vlad doesn't have to get it to sell it. He just needs to believe it like be believed laughing stock xCoin could become greater than Bitcoin when most thought it was already dead. We need that kind of believer back - along with this CIA, KGB, NSA, JP Morgan guy (frixtion) and we're well on our way to a great team. Then just one good code release to show the world xCoin is not a scam and we're good-to-go, brother! Okay, the name 'colored coins' is really confusing to a lot of people. We have to come up with a different name. What this function allows anyone to do is to create their own coin (currency), their own bonds, their own stocks or something that's backed by something else, like for example gold or silver. So let's say I started a company and I wanted to raise funds for that company, I could create 1 million shares of that company and trade it as a crypto coin. What happens is that anyone in the world can acquire these shares and sell these shares in any exchange. So some guy in China who does not have access to the NYSE can actually buy the companies shares. Shares are one way to raise capital, another is to create a bond where you pay interest on holders of that bond. What about precious metals? Say you have a 1,000 silver coins, you can create a currency that represents that silver coins. You can sell those coins on an exchange with the stipulation that anyone who has 1 of these coins can redeem it to receive a real silver coin. Why would someone not just buy silver instead? That is because silver is not transportable across nations and silver costs money to store and secure. Anyway, the applications are enormous. Why is iXcoin a better vehicle than Bitcoin? Well because Bitcoin is very expensive, if I needed to create 1 million shares, I would need 1,000 bitcoin to do so, that will cost $850,000 which is not affordable. By contrast with IXC, it would cost $120. Here is a youtube video that may help. http://www.youtube.com/watch?v=fmFjmvwPGKU |
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@frixtion,
So you're saying the .7 code update along with the colored coins code upgrade will be out to the masses within 90 days?
That's huge! HUGE!
Within 60 days of the Bitcoin 0.8.7, I don't know when that will happen though, but hopefully it will be soon. Bitcoin 0.8.7 is a bit major because it changes how you interact with merchants. I think this is the ideal time to introduced to CC functionality. Speaking about CC, I've had some discussion with the CC lead. Posted on http://ixc.boards.net/thread/32/native-colored-coins-specification |
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If this info is accurate then I think it's safe to say that the 1.2th miners won't be available until Feb.  I got an email from Bitmine in regards to AMT's chips. The rude fellow I spoke to on the phone at AMT (definitely wasn't Jim) told me if I want a delivery date then call Bitmine. Jim never answered my many emails - so I contacted Bitmine.
Antonio (Bitmine AG)
Jan 09 13:59
Dear Sir,
An estimated shipping date for the order of AMT is the 3rd week of January(mid January).
Thanks
for your interests in our products.
Danke für Ihr Interesse an unseren Produkten.
For any questions don't hesitate to contact us. In the meantime
Für Fragen sind wir jederzeit für Sie da.
Kind regards/MfG
Customer Service
I got the same message from Bitmine. |
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interesting, so how many Mastercoin would the issuer need to issue a new security with X number of shares at Y price? is there a formula? any predictable measure?
The smallest amount of MSC would be sufficient. I think the problem with MSC is that software developers are too embroiled with layering protocol layers but forgetting that economics is just as important. Bitcoin is a protocol for ensuring that there are no double spends, plain and simple. Sure you can embed messaging and maybe facebook likes or what ever you can think of, but what is the point if it does not tie back to the currency? I might as well go back to HTTP, at least its instantaneous and not like 1 message every 10 minutes! Anyway, with iXcoin's implementation, if you want 1 million shares, then you create maybe 10,000 IXC to hold them. The price of each of that shares is defined by the company that it represents, all that IXC does is ensure you can trade these shares in distributed exchanges. Is there a price relationship between the user issued shares and IXC, yes there is, the user issued shares price doesn't go below 1/10,000 of an IXC. In short, they should be worth more than the paper that its printed on! Why use iXcoin versus Bitcoin? Well it's like printing stock certificates on paper versys printing on gold. Why iXcoin instead of any other alt coin? iXcoin is secured by almost 6 peta hash per second (Bitcoin is at 12 peta has per second). So you are pretty much assured that exchanges of your user defined coin is extremely secure. Why haven't I heard of iXcoin? The user defined currencies are in the works right now and plan on releasing it with the 0.8.7 version of the client. Previous work was to update the old version to be on par with Bitcoin at 0.8.6. |
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This goes with what friction just said, that there have been way too many at coins launched over the past 2 months and there's gonna be many many more.
This guy was saying this last summer and was getting laughed out of the room. Now it looks like 3,000 alt coins are gonna be upon us even faster than he predicted which last summer seemed impossible, when there were maybe 10 viable coins to choose from.
Vlad2Vlad - June 2013
"Can you people not even recognize honesty when you see it? Maybe you all deserve to be buried under thousands of worthless coins. In the next 24 months there's gonna be over 3,000 alt coins on the market."
Yes, 3,000 alt coins... and very few of them secure. However, iXcoin is going even one step further... we'll make 3,000 alt coins secure.... all of them feeding into the iXcoin infrastructure! Wait a minute, this is the first time I've heard this. How will all the alt coins feed into Xcoin and what is this called cause it's a first for me. Another brilliant idea if it can be properly executed. This is exactly what the colored coin, smart money etc. functionality is for. Have you seen coingen.io service? It creates alt-coins by just sending a couple of BTC. What is the problem with it? The coins it creates are in-secure. You need hash rate to secure it. When iXcoin supports native colored coins, you can create an alt-coin on top of IXC. So if you want say, 1 million coins then you will need to acquire something like 10,000 IXC. The hash rate is secure by going on top of IXC. It would look for the purpose of any other user like any other ALT-COIN. You can define any kind of mining to create distribute coins, PoS, PoW, Proof of Burn, Lottery, Random, BOINC, prime generation etc.... but mining does not secure the coin, it just functions as distribution. The coin is already secure! What this does is it makes IXC the 'mother of all coins'. Just like Namecoin creates domain names. IXC creates coins! Really cool don't you think? |
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We have been approved by Crowdin to use their platform to help in translation. I have created a project: http://crowdin.net/project/ixcointo organize the translations of the website and the UI. Stay tuned. |
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This goes with what friction just said, that there have been way too many at coins launched over the past 2 months and there's gonna be many many more.
This guy was saying this last summer and was getting laughed out of the room. Now it looks like 3,000 alt coins are gonna be upon us even faster than he predicted which last summer seemed impossible, when there were maybe 10 viable coins to choose from.
Vlad2Vlad - June 2013
"Can you people not even recognize honesty when you see it? Maybe you all deserve to be buried under thousands of worthless coins. In the next 24 months there's gonna be over 3,000 alt coins on the market."
Yes, 3,000 alt coins... and very few of them secure. However, iXcoin is going even one step further... we'll make 3,000 alt coins secure.... all of them feeding into the iXcoin infrastructure! |
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Very nice! Fix first page "How TO Sell IXC on eBay" |
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Is there a website or something that shows the actual inflation-rate? I can remember seeing such an overview somewhere.
You are wrong on NXT btw. Afaik NXT-Coins are already mined for the most part and from now on its just the POS-Coins that will add to moneysupply, whichj results in low inflation-rates.
Well, isn't NXT the worse case scenario, where the owners don't even have to mine new coins?! What defines the floor for NXT when it cost only 21 BTC to acquire all the coins in the beginning? With most mined alt coins, you have to spend resource and energy to acquire. Even the most inflated coin requires a cost to acquire. With NXT the cost was next to nothing. Thats called premine, but it has nothing to do with Inflation. Yearly inflationrate of NXT is afaik 3%. Thats even lower than BTC inflationrate of 7%. BTW: I am looking for a way to see all mined coins up to date. There must be a way to look this up in the wallet somewhere. If you create 999,999,999 coins in a 21 BTC event... then yes, that indeed is high inflation. NXT can be easily cloned and the next guy can create another 999,999,999 coins. Actually, a real good metric for all these alt coins would be the cost to acquire. We all know NXT cost 21 BTC to acquire everything. Mastercoin was much much bigger ( around 6,000 BTC but I may be wrong here). |
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Is there a website or something that shows the actual inflation-rate? I can remember seeing such an overview somewhere.
You are wrong on NXT btw. Afaik NXT-Coins are already mined for the most part and from now on its just the POS-Coins that will add to moneysupply, whichj results in low inflation-rates.
Well, isn't NXT the worse case scenario, where the owners don't even have to mine new coins?! What defines the floor for NXT when it cost only 21 BTC to acquire all the coins in the beginning? With most mined alt coins, you have to spend resource and energy to acquire. Even the most inflated coin requires a cost to acquire. With NXT the cost was next to nothing. |
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They can't inflate it forever right? What will happen after mining stops?
The game that is played, and if you have not noticed it already, is that miner mine the high inflation coins when it is down and then pump it up when they've mined enough. A kind of rinse and repeat strategy. Almost as easy as creating yet another high inflation coin. |
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not sure why you used the word "inflation", I would have used speculation or better, market manipulation
I use the word 'inflation' here referring to the NUMBER OF COINS CREATED in such short of a time. These coins put the Zimbabwe dollar to shame! Oh... forgot to include the most infamous high inflation coin.... QRK. |
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If you watch http://coinmarketcap.com/ you will notice: (1) A lot of alt-coins will come from nowhere and jump to the top 25, only to eventually fall out of the top 25. Here are some that have come and gone in the past 10 days (these coins all used to be worth more than iXcoin): 25 Cryptogenic Bullion $ 1,101,774 $ 1.18 932,461 CGB $ 16,665 -12.21 % 26 GoldCoin $ 1,072,040 $ 0.037 29,242,265 GLD $ 7,408 -4.77 % 28 Sexcoin $ 917,377 $ 0.017 52,493,825 SXC $ 11,418 +20.48 % 34 StableCoin $ 684,177 $ 0.073 9,326,955 SBC $ 2,785 -3.68 % 36 FlorinCoin $ 603,070 $ 0.016 38,059,900 FLO $ 7,583 -10.50 % 41 LottoCoin $ 411,857 $ 0.00012 3,515,536,833 LOT $ 48,691 -15.28 % The following coins I also expect to fall much further due to high inflation: 6 Nxt $ 43,408,595 $ 0.043 999,997,986 NXT* $ 115,185 +3.47 % 14 DogeCoin $ 7,924,274 $ 0.00032 24,920,056,265 DOGE $ 421,962 +39.73 % 15 Infinitecoin $ 6,616,294 $ 7.4e-05 89,572,983,309 IFC $ 18,149 -8.88 % 16 Zetacoin $ 3,668,544 $ 0.023 159,590,953 ZET $ 4,449 -3.00 % 17 NetCoin $ 3,398,657 $ 0.017 198,798,074 NET $ 25,133 -14.07 % 20 Tickets $ 2,836,103 $ 4.2e-05 66,876,281,414 TIX $ 4,564 -1.18 % 23 EarthCoin $ 1,335,823 $ 0.002 681,317,689 EAC $ 22,548 +40.97 % Which is obvious... just look how many coins were all created in just a few months time. In fact, some of these coins are just one month old (i.e. DOGE, NXT, EAC, NetCoin) ! Talks about absolutely ridiculous! Folks, its all "supply and demand", no amount of hype is going to hide this fundamental truth. |
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If you watch http://coinmarketcap.com/ you will notice: (1) A lot of alt-coins will come from nowhere and jump to the top 25, only to eventually fall out of the top 25. Here are some that have come and gone in the past 10 days (these coins all used to be worth more than iXcoin): 25 Cryptogenic Bullion $ 1,101,774 $ 1.18 932,461 CGB $ 16,665 -12.21 % 26 GoldCoin $ 1,072,040 $ 0.037 29,242,265 GLD $ 7,408 -4.77 % 28 Sexcoin $ 917,377 $ 0.017 52,493,825 SXC $ 11,418 +20.48 % 33 Unobtanium $ 720,866 $ 5.86 123,030 UNO $ 13,897 +4.43 % 34 StableCoin $ 684,177 $ 0.073 9,326,955 SBC $ 2,785 -3.68 % 36 FlorinCoin $ 603,070 $ 0.016 38,059,900 FLO $ 7,583 -10.50 % 41 LottoCoin $ 411,857 $ 0.00012 3,515,536,833 LOT $ 48,691 -15.28 % 48 Philosopher Stones $ 212,436 $ 0.13 1,611,833 PHS $ 2,236 -16.19 % (2) iXcoin is consistently in the low 20s with a marketcap of 2 million or more. In short, Alt-coins are a dime a dozen. If you buy a "pump and dump" coin, then expect to lose a lot when the dump happens. iXcoin has been around for over 2 1/2 years, the price over that entire period has been relatively solid. The following coins I also expect to fall much further: 6 Nxt $ 43,408,595 $ 0.043 999,997,986 NXT* $ 115,185 +3.47 % 14 DogeCoin $ 7,924,274 $ 0.00032 24,920,056,265 DOGE $ 421,962 +39.73 % 15 Infinitecoin $ 6,616,294 $ 7.4e-05 89,572,983,309 IFC $ 18,149 -8.88 % 16 Zetacoin $ 3,668,544 $ 0.023 159,590,953 ZET $ 4,449 -3.00 % 17 NetCoin $ 3,398,657 $ 0.017 198,798,074 NET $ 25,133 -14.07 % 20 Tickets $ 2,836,103 $ 4.2e-05 66,876,281,414 TIX $ 4,564 -1.18 % 23 EarthCoin $ 1,335,823 $ 0.002 681,317,689 EAC $ 22,548 +40.97 % Which is obvious... just look how many coins were all ready created in just a few months time. Talks about absolutely ridiculous! |
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Withdrawal fees compared:
In order to withdraw your coins, you pay a fee. Here the withdrawal cost for the three exchange:
Cryptsy.com : 0.001 IXC
CEX.io: 0.001 IXC
Vircurex: 8 IXC
Basically, if you want to sell iXcoin on eBay, choose between Cryptsy.com and CEX.io.
CEX.IO or Cryptsy could be recommended as an online wallet for IXCoin. Both are extremely secure and I really would avoid creating and maintaing my own online wallet. That would be too difficult to secure. Just ask all those Bitcoin online wallets that went under. |
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Sending funds to ones account is actually unconditionally transferring complete ownership
of those funds to dgex? it is not really so hard to see why that concerns/offends
Yes. If you are not fine with that theoretical phrase, do not do business with DGEX. You have a free choice. It seems though that your point is a negative agenda against DGEX, but you seem to have hard time getting it through coherently. Crypto business is like that. There is nothing else than our terms guaranteeing us from being held responsible for NXT network failures, potential hacking cases, whatever that this extremely risky business field may bring. If the NXT network fails and takes your NXT on DGEX, or if a hacker succeeds to steal the 75M NXT storage, no we will not pay you out. Anyone claiming that they would, lies. When I say account holders' money belongs to them, I am not lying. I am morally cultivated and know what is right and what is wrong, and act according to that. However, if we lose account holder's money and are unable to compensate, it naturally becomes account holder's loss. Being unable means it is impossible. The terms state it clearly and on your face. If you are not fine with that, I suggest you seek an NXT exchange using nicer poetry to lure customers without any more real guarantees than what DGEX offers. The T.O.S. is not theoretical. It is the word that will be taken as legitimate in the eyes of the law and is the contractual expectation when signing up for a dgex account. It is also the basis for which the expectation of your handling of future matters is based. Otherwise why have it? What is theoretical is your "promise" or any other statements you make that contradicts the T.O.S. This is indeed weird. When you transfer coin to any crypto exchange... the coin resides in their wallet and not yours. So if the crypt pexchange gets hacked, then it is their responsibility to compensate. Now if your account on the crypto-exchange was hacked because of your own negligence... well then in this world.... it is your responsibility. So if an exchange accepts an insecure currency, then it is their responsibility to secure it or not exchange it at all. |
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so the problem is that you cannot prove that you actually have sent a voucher, it could be a simple postcard, and most probably you wont be able to prove that the certificate was reedemed because these fucks at paypal wont even check any online confirmations, they do not accept any video, photo evidence and so on. you are always at risk as a seller.
so in my opinion the only way you can protect yourself is to sell using best offer (not an auction where you have many possible buyers but you cannot choose a winner). You probably will have less buyers with best offer but atleast you will be able to choose who to sell to
eBay almost always sides with the buyers. So yes, to reduce your risk, sell only to a verified buyer. You can always do fixed price with best offer. Almost as good as an auction. |
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