I like the idea to be like Bitcoin. I only wonder what Bitcoin community will be forced to do after +/-2033.
It is completely unpredictable as to what the Bitcoin Foundation will do in 2033. To predict that they will support zero miner subsidy is pure speculation now. Who knows what kind of technology will have evolved by 2033. IXC simply does not have that luxury and likely any choice that will be made by 2014 will of course drastically be different from what they do in 2033. In short, this notion about keeping identical with Bitcoin is completely false. |
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No, no, you are not.
This coin has made tremendous progress [for an abandoned coin] long before you and Zebedee showed up "to help us out".
You and Zebedee have [thus far] been nothing more than a source of anxious FUD spinners.
You don't phase me and you're not gonna derail our plans and momentum with your fear-based bullshit.
Nice try, though.
It's not fear its common sense. You have a developer who expresses little interest in your coin, calls it insane thinking and you a mad man. ? Something is wrong with this picture haha. Anyways I'll drop back from time to time. best of luck. Correction... I said I had some stake... just not a lot of stake. Yes, Vlad is a mad man, but all this crypto stuff is crazy stuff anyway. IXC actually is a coin that is very well positioned relative to all the other alt-coins out there. It has an incredible hash rate, plus it is extremely well distributed. Probably Vlad is the largest stake holder with about 2-3% of the coin. The fact that IXC market cap hasn't plunged significantly tells you that there are a lot of crazy stuff going on behind the scenes. |
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I've got to admit, it's alot of insane thinking. But what the heck, let's see how this experiment pans out.
I think because CEX.io is involved, this is indeed tremendous progress for IXC.
So this coin is run by a dictator mad man? Edit: This is my biggest worry, that this Counterparty update will either be majorly flawed or very mediocre. Such an update would be a huge waste of time and make us look like idiots and that's a sure way to lose CEX.io.
Simplest answer then. Dont do any updates and just hope for the best when subsidy runs out. That makes more sense. Yes, we got a mad man running the show. Honestly, I think an element of crazy is needed to differentiate this coin from the rest. |
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That's exactly what I have been told. If things change we will then change our strategy as well.
I have a feeling if iXcoin becomes a player, a coin with a future, other pools will update as well, to remain competitive and to get fees.
This is why it's crucial we release a very good update this time around. Something incredibly useful and not just window dressing.
Other pools will follow the biggest pool, presuming there's something going on.
And it's not any more odd than 1 pool, barely 1 year old, controlling over 40% of Bitcoin.
We're very lucky to have CEX.io so let's make use of them for the best.
So, major decisions are based on feelings not economics or greed? This is what you have been told? Nothing in writing? Other pools will no longer have any incentive to upgrade until IXC becomes a "player" This is ludicrous thinking and dangerous. I've got to admit, it's alot of insane thinking. But what the heck, let's see how this experiment pans out. I think because CEX.io is involved, this is indeed tremendous progress for IXC. |
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Bitcoin will inflate, they will add PoS, the 21 million hard cap will be raised, I've said this since last year, but for now they have not and neither will we, UNLESS it is absolutely necessary to keep the miners going, and in this case, given we have CEX on our board, it is NOT necessary.
I think you need to practical about this. The subsidy runs out in October. If after October, miners and pools drop IXC support, then we will have a complete debacle in our hands and there will be no fix for it. I do not know what CEX plans for October are. Will they accept zero subsidy or an alternative of 1 coin per block (or some other number, note there is also a halving event in a month... so instead of 96 coins, it'll drop to 48). So there's a lot of dynamics going on here. Look.... I don't have a lot riding on IXC. However, I am pleading... practically *begging* that there be some sanity be introduced before IXC falls off the cliff! I really don't understand where this fear and panic is coming from. We have the full support [for now at least] of the largest mining pool on earth. THEY HAVE ALREADY STATED that they will mine iXcoin FOR FREE, with no additional subsidy necessary. ZERO additional subsidy required. Now all of a sudden, the sky is falling and we need to inflate - hurry, let's remove one of our biggest selling points.
Why? Where is this fear coming from - it is utterly baseless.
IF we lose the support of CEX.io we will then DO WHATEVER NECESSARY, including inflating, IF necessary. But ONLY if necessary. It would take but 1 day to change 1 line of code raising the max hardcap and adding the 1% inflation. This debate is all really overblown [as we have discussed this already] and completely unnecessary.Okay... if you got Jeffrey's word that IXC will not be pulled with zero subsidy. You have better be 100% certain about this. I am perfectly fine with this scenario. Of course, it's just really weird that a single pool controls 100% of the coin. |
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I've already talked to Jeffery and he said they have no issue updating to iXcoin's newest code. But we have to make it count; release the best update possible. Native escrow and whatever else will give us an edge against most other alts.
Anyone talking 'native escrow' is dreaming. How the hell is that going to be implemented? If you are talking multi-sig, then that's already in 0.8.6, otherwise, I have no idea what you folks are talking about. |
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Bitcoin will inflate, they will add PoS, the 21 million hard cap will be raised, I've said this since last year, but for now they have not and neither will we, UNLESS it is absolutely necessary to keep the miners going, and in this case, given we have CEX on our board, it is NOT necessary.
I think you need to practical about this. The subsidy runs out in October. If after October, miners and pools drop IXC support, then we will have a complete debacle in our hands and there will be no fix for it. I do not know what CEX plans for October are. Will they accept zero subsidy or an alternative of 1 coin per block (or some other number, note there is also a halving event in a month... so instead of 96 coins, it'll drop to 48). So there's a lot of dynamics going on here. Look.... I don't have a lot riding on IXC. However, I am pleading... practically *begging* that there be some sanity be introduced before IXC falls off the cliff! |
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Agree with your statement about the lack of incentive to secure the network. This of course assumes that the interests of the pools are the same as the miner. Generally it is.
I continue to favor a 1 coin per block mining rate after we hit the limit. Others may disagree, however let's see what indeed happens. The code fix is indeed trivial, however what is not trivial is if a pool like GHash.IO removes IXC from its merged mining... that is not a trivial event to fix... that will absolutely kill the coin.
If you intend to keep updating the code, which hopefully you do, you have to get the pools to accept new versions. Once incentive stops, no reason for pools to even bother with any updates. If only GHASH.IO left, well, there goes anyone in this community ever looking to IXC ever again. I cannot see a single logical rational argument for ending inflation and neither does Milton Friedman. I am starting to see this as a 5 year project before IXC gains any traction, if ever, even with 1 coin per block lol. You are correct in that the new version of IXC needs to get into GHash.IO (and the other pools). That absolutely is priority. Can someone take up the technical task to ensure that GHash.IO is consistently updated with the IXC code? I certainly don't have the time for that. I really don't own a lot of IXC, so I really don't have any real incentive to do a lot of maintenance work for IXC. |
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Bitcoin is inflationary right now and in fact it will never stop inflating...This experiment to stop inflating in a few months is a disaster. Besides, if you believe this: Milton Friedman predicted crypto currency in 1999 the NSA had a design built in 1996 and the rest is history. http://kolinevans.wordpress.com/2014/03/02/milton-friedman-predicted-crypto-currency-in-1999-the-nsa-had-a-design-built-in-1996-and-the-rest-is-history/Then read this: Friedman's k-percent rule http://en.wikipedia.org/wiki/Friedman%27s_k-percent_rule"Friedman's k-percent rule is the monetarist proposal that the money supply should be increased by the central bank by a constant percentage rate every year, irrespective of business cycles." If you don't want to take my input, maybe listen to Friedman... So frictionless minimal proposal of 1% fits Milton Friedman. You just want to retain and exploit your 3% stake, that's crazy for adoption and miners have no incentive with no transactions so no fees. Defies logic. You argue IXC will have greater liquidity by being mined out, then argue against increasing liquidity. All for selfish reasons. Agree with your statement about the lack of incentive to secure the network. This of course assumes that the interests of the pools are the same as the miner. Generally it is. I continue to favor a 1 coin per block mining rate after we hit the limit. Others may disagree, however let's see what indeed happens. The code fix is indeed trivial, however what is not trivial is if a pool like GHash.IO removes IXC from its merged mining... that is not a trivial event to fix... that will absolutely kill the coin. |
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(1) If CEX.IO (i.e. GHASH.IO) supports IXCoin with zero subsidy.... then that's great.
I have always said a 1% inflation rate would be fine.
Well i'm new but totally agree with inflation. Be even more like bitcoin. Bitcoin has ZERO inflation. It's actually deflationary. So iXcoin is already EXACTLY like Bitcoin. No inflation unless it's absolutely necessary, let's keep it exactly like Bitcoin since that's the standard. That's my vote. A little bit of terminology here so we are in the same page. When I talk about a 1% inflation, I am talking about 1 IXC coin created per block instead of the 96 coins. (Actually, it's a little bit over 1%). Bitcoin has not hit the limit. Bitcoin is still inflationary since you still get 25 new coins every 10 minutes. Bitcoin is only truly deflationary when it hits 21 million coins. However, because Bitcoin mining difficulty is not constant, but rather becoming more difficult over time, the cost to 'mine' new coins becomes more expensive over time. If by deflationary you mean that to acquire a new coin there is a cost to do so (rather than print money for free), then both IXC and BTC are deflationary regardless if the IXC rate is 96 coins per block or 1 coin per block. |
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What the fuck is MEAT and CAKE ?
Why is there only 2 assets in XCP ?
Anybody can create assets, there is no central authority to restrict the words you are allowed. These were likely created for testing the creation, issuance and dividend payment portions of counterparty. As you can see from a trivial check here http://blockscan.com/asset.aspx or on the counterwallet client there are a lot more than 2 assets. With so many assets... somebody needs to come up with something like a rating agency! Hmmmm.... what about a distributed decentralized rating component? Here's a very interesting proposal for just that. https://forums.counterparty.co/index.php/topic,220.0.htmlIndeed interesting that you can't really have assets in a trustless system. The moment you allow folks to start selling assets, then the sellers and possibly all the other participants of that asset cannot be anonymous. A trust system needs to be available. Possibly a distributed decentralized trust system is what is needed. |
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Like I said you know your situation best and do what you feel you have to do to get results. At least wait until the response on the 10th to see what happens next. Their response will be what determines what action you should take next. Its a hard deadline anyway the court set. So its the best we all got to see what happens next. And since there are lawyers involved it at least there is accountability in the process which is what we all want anyway in this at this point.
If I had to guess there will be an RMA process and something to replace these bad boards/designs. Not sure what the nature of that will be....but I am taking a wild guess here based on cases of a similar nature. This does take time to happen if there was no process for that previously.
I guess June 10th is the deadline? So is it a good thing that AMT is waiting for the absolute deadline to respond? They've got a whole bunch of customers that are completely in the dark with regards to shipping and support. So how is it that waiting for the last minute is going to help them make their case? BTW, what's the name of the judge that's presiding in this case? AMT should consider them lucky that the plaintiff's chose to sue in a court local to them. Imagine if the court was in Texas! |
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What the fuck is MEAT and CAKE ?
Why is there only 2 assets in XCP ?
Anybody can create assets, there is no central authority to restrict the words you are allowed. These were likely created for testing the creation, issuance and dividend payment portions of counterparty. As you can see from a trivial check here http://blockscan.com/asset.aspx or on the counterwallet client there are a lot more than 2 assets. With so many assets... somebody needs to come up with something like a rating agency! Hmmmm.... what about a distributed decentralized rating component? |
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Hey Friction,
Do you need any help with updates? Maybe someone from the community can lend a hand?
Let us know if you need anything?
@ Zed,
Are you a bitcoin user? Do you think it is a good idea to have a nearly exact copy of bitcoin that will reach maturity before bitcoin? Is there anything useful that Ixcoin can provide to the bitcoin world? How do you compare the high hash rate of Ix to other altcoins?
Can you please provide an example of a coin that has died and explain similarities to Ix.
Can you please explain how iXcoin can die with a commitment from cex.io to continue after the having event?
and its ok if its easier for you to refer to Ix as shitcoin, (Though not to be confused with the actual shitcoin) we are all adults here and appreciate your view point.
I will need help testing. Let me first release a new version of IXCoin with just the OP_RETURN changes. Then we can test this version against the modified counterparty client. Regarding the end of subsidy... (1) If CEX.IO (i.e. GHASH.IO) supports IXCoin with zero subsidy.... then that's great. I have always said a 1% inflation rate would be fine. However, important to note that there are coins out there like Ripple, Nxt, MasterCoin and Counterparty that have zero subsidy for miners. Actually, they don't require miners. They haven't exactly died off. Anyway, it all boils down to whether the pool supports zero subsidy or not. This issue of course is the most pressing issue for IXC and I would like the IXC foundation to cast a vote on this. |
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Read through this entire thread finally, took a while, and bought 100 IXC.
Is anything going to actually happen with this coin or is it all smoke and mirrors?
Are there any real development plans? Seems "frictionless" is lead developer but not doing anything.
Haha, you read it right. It's dead apart from a few pumpers, one or more of which are most likely Oldminer (who started this, a.k.a. Thomas Nasakioto) looking to dump his pre-mined coins. Mining and the coin will die when the reward(bribe?) prematurely drops to zero in October. But make up your own mind! All the information is public. Including that it will happen in October, not August, as Vlad didn't believe until I challenged him to put money on it, when he suddenly wasn't so sure any more. Some (like Vlad I guess) claim that lack of issuance will lead to a squeeze and rise in price. Which may actually happen for a few days. But what is there to keep this going? Chew on it a bit; I don't think there's much here apart from selling what you own if you happen to have some (I don't have anything, but I've been amused at how this has turned out for the last near-3 years). In the last 3 years, it has actually turned out pretty well! |
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Announcement: Code to be released for testing on July 8th, 2014
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Read through this entire thread finally, took a while, and bought 100 IXC.
Is anything going to actually happen with this coin or is it all smoke and mirrors?
Are there any real development plans? Seems "frictionless" is lead developer but not doing anything.
Haha, you don't beat around the bush, do ya? Friction should be about done with the latest counterparty update which should be a really big deal for IXC. He originally said he'd have it done by the end of the month (may) but give or take a few days given he's a busy guy, and I think he'll have it done any day now. Welcome, BTW. Hopefully you can add more IXC on the dips. Regards! I am a bit delayed. Expect at least 2 more weeks. The iXcoin client will need an upgrade to support the OP_RETURN opcode. |
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We've already stated the legal implications we run into every time we write anything on this forum. We mentioned that we'd keep it to a technical discussion only to try and resolve the problems with the existing boards. There was an issue as to "if we can provide clients with source files.. bla bla bla" which we've just about taken care of. We've started production of new a1 miners based on our licensed technobit boards with local and foreign manufacturers, and our own boards as well, and production for script miners and other solutions. Everyone will be attended to and everyone will have rectification for these delays which we HAVE taken responsibility for on several occasions.
Guys calm down, stop ranting, we've been moving the office to other side of the city over the last few days as we said before. We know you want instant gratification to this problem but it takes time because of the legal actions that have occurred. Things we can and can't do, etc. For what it is worth, I can confirm this statement. Just checking-in, to let you know I am still alive and assisting some with solutions. Where I can. I have been sent the legal-paperwork, needed to continue assisting. Now I just need some time to work-out more solid solutions on my end. Getting more money soon, so for those who need it, I can start making the custom cases and air-flow mods soon. That wouldn't be possible if AMT had not done what they have done. They are doing all they can, to rectify this, from my perspective. (I may just have a better view of the situation, but it gets better-looking each day. Unfortunately, there is no-more I can say beyond that.) I now also can confirm. A couple of nights ago I got read in to the situation. While I can totally get the perspective people have that its all words, there is quite a bit more going on. I am assisting with some operational aspects that falls under my particular area of expertise. The ultimate goal is that this will benefit all of those that got boned in this situation. I had a VERY long chat with Josh on this matter, and they do want to rectify this. THat being said, AMT out of all the others is the only one making an effort to rectify this. I got a VERY clear idea of what is going on and am taking a very active part in shaping the new product as is ISAWHIM and others read in...due to the legal aspect and competitive crap going on it's better to know when it's launched. As it is they have the pending lawsuit, which we all know about, makes it a massive pain in the ass to discuss anything openly. As it is few if any companies ever discuss future plans because A: Competitors steal and implement it (usually poorly) and B: breaks contracts that may be with other partners in the mix. But the plans are sound and we are working at it. I am largley working independently, but the new things coming are solid. And will resolve some of the issues we have been having. I will give them at least that much credit they are doing their absolute best which right now with the communications issues on the legal side makes it tough for them to just speak out. I had none of this info when I spoke out the other day. I have all the details now and there are now community members in the mix to make this better for all of us. Not alot of other vendors can really say that. It doesn't matter if AMT has a brilliant strategy or technology going forward, they simply have no ability to execute. Execution is non-existent. They can't even ship boxes correctly. I really am not holding my breath waiting for another product. I expect, like most other AMT customers, a complete refund. If AMT insists in shipping me more product, I will continue to demand that the MPP be honored! |
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If anyone has information on where these guys are operating next please let me know. I am going to inform the local police I am coming there for a face to face with these guys. I am a member of the police network and I want to make sure all businesses and police know about the money they took from hard working people as themselves and veterans like myself. I aslo want to hand out literature at their new location to everyone in a 5 mile radius telling my story about getting scammed. It's going to take a lot of compensation to stop me, everyone should get all their money back, lost bitcoin revenue since 2013 and also compensation for dealing with all this.
Ask their lawyers White and Williams as to what the address is. How is it even legal that they sell $6,000 equipment to people with a lifetime warranty and then change address without telling anybody about that said address? |
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