you aren't asking anyone that was mining before oct 2013, because except for a few spikes, your condition existed. those who started mining before the prices jumped last fall will surely continue what they started before the big money came
Precisely. I think a lot of the people that have been mining alts for a year will continue to mine for a long time to come. Frankly, I wouldn't be surprised if a lot of them are willing to take slight losses for possible long term gains. Of course, in that case we get into the whole mining vs. buying issue, but that's another topic. |
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I do find it intriguing how everyone is brazenly bashing even though this is still in a stipulated "beta." This implies two things: 1) Don't put more than you can afford to lose into coinmarket.io and 2) Don't expect the system to be perfect, i.e. expect long downtimes.
I know it also doesn't mean that the site should keep users in the dark especially when there is a trust factor implicitly there, so bad on them too.
But come on, we really need cooler heads to prevail.
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Thank you for those kind words. I hope you make that rig soon!  . How many PSU's and GPU's are you planning to put in a system? I hope I can make that rig soon too. Hehe. It would likely be a 5 or 6 GPU Rig with 2 PSUs. |
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Rather then block halving why not "block decrementing", instead of after x months the reward halves make it so after x blocks the reward goes down by 1 NOBL that way you get the increased rarity without the shock, just a thought, IDK about the technical side of such an implementation.
I agree with this from the standpoint of a monetary supply model. Very few coins have adopted this model though (in fact the only one that I can think that does anything close to this is Primecoin and PPC and its forks; block rewards are based on current difficulty). And there are pros and cons to this type of pruning. If you go with a constant amount each time, each consecutive trim will have a greater and greater "shock." If you go with a small percentage, it may take very long to reach the desired final supply. |
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We should all be dancing because it's (almost?) dead. But we should do so in somber and subdued funeral garb because it could be the end of many people's money and future forays into the realm of BTC.
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It definitely is frustrating not knowing the current status of the site, but as stipulated, this is a beta version of the website. So yeah, there are going to be tons of bugs and extended downtime.
That said, if they are trying to become a go-to exchange, they need to do a better job of clearer communication. I understand that they could possibly be busy with a very important issue, but it would behoove them to provide updates on some sort of basis. Going over half a day without further information doesn't do anything but disenfranchise the user base.
All in all though, I understand it is still a delicate balancing act.
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And the news gets more exciting by the minute. Wish I didn't have to go to sleep so soon. Meh...
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This looks like a really solid product. Very nice! If I decide to build another mining rig, you'll definitely be getting my business!
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they removed bold here: "The purpose of this document is to summarize a joint statement to the Bitcoin community regarding the insolvency of Mt.Gox."
and on the last paragraph they removed bold sentence:
Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers. Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any these essential requirements as a financial services provider.
pretty bold statement lol
*edit - and now the gox site is blank in case you haven't seen it yet
Oh this is getting juicy.....Gox to release a statement soon I'd imagine.. or just leave a blank website up and run away.... +1 Gox has only been full of empty promises. Kinda like some people in my life. And frankly I don't need any of them. And as a community we don't need Gox. |
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Wow, this is a very strong sentiment to hold and frankly it's what the Bitcoin community needs. Mt. Gox is so 2011, there have been many better, brighter, and more honest companies that have come into existence since that time. Before, Mt. Gox kinda defined BTC, now it's anything but that and it's good to start shedding that past.
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I don't even understand what any of that means
Hehe. tl;dr: Block halving can be pretty bad if it isn't well accounted for and planned for; you need to be prepared for the sudden shock in inflation rate. Proof-of-Stake is okay if the reward scheme is within reason; using something like PPC's mechanism wouldn't cause too much of a shake, and in fact we could use a slightly rate without any harm. |
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What do you think about working some POS into this coin? To encourage hoarding and not dumping?
We are considering it and will release a large info post on the tech of NobleCoin and our thoughts going ahead into 2014. To sum up the majority of the PM's we get however I'll try and do a simple and short piece here. In terms of block halving: DOGE has now shown us what we expected, it simply creates an artificial pump, miners leave en-masse and the difficulty/prices drop back down when the huge expectations aren't met. There is a group-think going on that block-halving GUARANTEES a long-term increase in investment. We personally do not feel this is the case, as many others are beginning to now. If this changes, we will introduce it at 6 or 12 months. PoS (MINT being the latest example): What we are concerned of here is you have a massive pump early (especially when a character like Wolong is involved) with everyone believing long-term guaranteed gains on interest. I might be wrong here, but if we have a bunch of hoarders and no new miners, where is the continued interest? Where is the fresh blood? Where is the spending and circulation of the coin? And who then wants to spend all the coins they've hoarded on continued development and promotion? Cryptocurrency should not be just an investment vehicle. We want to increase value by increasing DEMAND, not reducing supply. We will be watching MINT, and while I'm no sage I'm expecting a massive dump before PoS kicks in. N-factor (VERT): I love VERT, I love the community and I love the innovation. What my question regarding n-factor is what if ASICs massively increase the difficulty and thus the price of coins they sit on? If the demand for the coin is there, the price will follow. Look at what happened with BTC. If ASICs become mainstream later this year, all the early adopters got plenty of coins at low difficulty. The difficulty and security of the coin then skyrocket, and perhaps so does the price. DARK: We are concerned anonymous coins that promote complete anonymity and protect illegal activity (though I am in no way implying that is all they are for) will get a lot of heat or even made illegal as crypto becomes mainstream and laws/regulations attempt to be built around them. You have to remember there have been some very large whales involved with certain coins. The rise is not just because of the technology, although it plays a part. Huge gains have been met with huge losses as coins, whether the hype is justified or not, get dumped on at critical points. Players are not just speculating on coins, they are speculating on technology. It does not mean it will pay off. These are the 'big four' we are watching, and I'm more than aware our views and opinions on them might be wrong. It is something we will consider when we do our first large upgrade. Right now, we're focusing on brand, on services, on ideals and visions, on trust and on community. With all the focus on technology, many seem to forget that a coin can, will and does fork or upgrade when necessary. And many that survive 2014 will. We want to build something that lasts despite the technology. The trust and faith in a brand, coin, community and group of developers and supporters is something that requires a lot more hard work. Perhaps I am looking at it too much like a marketer and not an investor or developer, but many of the community members have gotten on board for the same reasons. I hope I am not appearing too disregarding of the technology, but there are just so many 'ifs' and 'maybes' involved. I'm not denying coins like VERT and DARK have done extremely well and I congratulate them, but nothing is certain long term (not NOBL, not DOGE, not VERT & DRK, not even BTC) and it is not just the tech that plays a role here (DOGE for example, was a social coin pumped just the same way and then embraced by the internet). I will be working personally with a developer dedicated entirely on source and wallet upgrades, but right now we're trying to make NOBL something more than innovative technology. I am opening myself to criticism here as it goes against what many believe and invest in at the moment, but personally I am tired of the mentality that rarity and the inability to mine a coin guarantees massive long-term gains. Sure, you've completely dominated supply, but where is the circulation, demand and development? Seems to me like pumping and whales play a more important role. I might be wrong, but there is no guarantee any opinion at the moment in this scene is right. Thanks for your time. Some quick thoughts: Block halving can be highly detrimental because of the shock that it has on the expected supply, inflation rate, and greatly affects more technical economic supplies (alpha-delta ratio). You've hit it right on the head with the shock of block halving.  It may have worked for BTC because it was meant to have a deflationary supply. Without having it part of the original game plan, you need to think long and hard before implementing it. PoS may not be as much of a shock if it is done in a reasonable way. Some later coins have really tested the deep waters with PoS by introducing up to 20% per annum which frankly delves into the realm of hyper-inflation (after all, it just takes 5 years to double, 8 1/2 years to quadruple, and by the time you hit 22 1/2 years you're at 50x). But if done reasonably it's not too bad:  For this calculation, I started PoS 6 months after inception, returning 1% per annum convertible monthly. That said, whatever you guys decide, I know you will put lots of thought into it and I feel that the community can trust your decisions. |
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Oh they're going to steal the "mining crown" are they?  The only thing they're going to steal is the money of morons... you have to consider that the 210k card only uses 60 watts allegedly. So 600 watts for 2.1MH. Which is pretty good in terms of power. 21 MH at 6kw +- I am looking forward to see the high end and their consumption / cost Seriously, that is an incredibly efficient mining/watt figure. In fact, he was able to overclock that card to get almost 285 Kh/s for a power draw of around 75W (that's nearly 4Kh/W)! I wouldn't be surprised with significantly improved numbers for more powerful cards. And let's not forget, the 750 Ti doesn't need a PCI-e power connector! I might actually pull out some of my older desktops and get a few of these cards! |
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I agree Honeypot, and with all due respect, we have emailed and gone through the voting rounds on major exchanges for six weeks now. Community members have even emailed with the hint of 'prices' to get listed. We have emailed almost a hundred (literally) crypto media outlets, every single one that has run a story on the Dogesled and the Worldcoinwell actually, with the full story about our Water Project beginning, Marketplace deals, and the successful wrap-up of our Water Project donation drive (of which I cynically continue to point out, coins with 20x our market cap struggled with and still have not 100% delivered on themselves).
We are getting zero response from exchanges or media (BTCGeek & CryptoArticles are exceptions we are very grateful for). We're not even getting responses regarding 'pricing'. We're getting down-voted constantly on Reddit, by other communities I imagine. This is why I continue to ask our community to keep getting the word out there. We are being held down, on purpose or subconsciously, but the longer we stay here delivering the good stuff (more of which is coming) the harder it will be to ignore us forever, and sooner or later our time will come. Unfortunately, a number have left, unhappy the Marketplace did not make them rich, ignoring the larger picture (BTC & Mtgox) and declaring us a failing coin.
On a personal level, it is getting frustrating and I am getting a little cynical as 100s of BTC pour into s*** like Panda, Stackcoins & Max, but there is no way in Hell the devs and ambassadors of NobleCoin are going anywhere soon no matter what happens to our price. If anyone for a second thinks the first month and a half is going to be the culmination of how much we put into this coin, they are very wrong.
Okay, this next post is my own personal thoughts in which I do believe honestly. Just remember to keep your head high and look forward. This is something special, we have low hashrate at the moment, quite little attention and small market cap. That is something special with this kind of alt coin. It gives time for the miners to grow their stashes. Those miners who are the backbone of the coin and those who might have been here from the beginning, from the launch day of the NOBL, those who believe this coin, it's devs and community. Of course every coin is dependent of it's dev team, but it's also dependent of the miners and I'm 100% sure that you Rofo know this but I wanted to say it anyway. And I'm saying this because on this stage it rewards the true long term believers, investors, supporters and even merchants if they keep their Nobles. There are many crap coins with the same or bigger market cap that Noble has. And by crap coin I mean pump&dump coins with no intentions or future plans. They are there for some time, they might have astronomical hashrate compared to Noble, people mine and dump and wait for "to the moon" or "train is leaving" but there might not be either. Miners lose their interest and seek for new opportunities and now as the miners fade and community get smaller, eventually the coin will die off. At the same time new crap coins pop out every day and the loop keeps going. But in the mean time Noble grows steadily with the future plans, updates, fundraisers, merchants, community, exchanges, hashrates etc.. And also gets more and more pages on this sub forum. I know that it's not a big deal but it still matters when you have hundreds of pages, it tells about the coin's popularity. People will come and see the massive first post with all the info, charities, merchants, marketplace etc. And to the top of all this include the social media like Twitter, Facebook and Reddit which spread the word even more. It's all about time now, it might take a month maybe two or six or maybe a year but it will happen. I've been mining over a month now non-stop and I'll keep mining. I believe in this coin and believing is the key for the success in everything. I tend to agree with this. Although, Honeypot has very valid concerns, we need to tread carefully and not fall into the trap of incurring so much "artificial" growth that is damages the coin in the long-term. At the same time, the community and the coin will need even stronger organic growth; in particular we should utilize the positive developments and articles that occur for this coin. It would be great to see more people involved with the community commenting and engaging with others whenever a positive article on Noblecoin is released. I still believe it will take a little bit more time for everything to come to complete fruition (maybe not a year, but I think a good target for strong market penetration is sometime around Q2 2014 based on the current road map). As it is now, remaining patient and continuing to work hard, growing the community organically through positive releases and strong engagement with others, continued development of infrastructure on the business side, and staying true to the coin's mission and ethos is fundamentally important and will determine how successful NOBLE will be in the long-term. |
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I saw this article and it was really awesome to read. It's about time that there is a coin that focused on ethos and the social aspect. You guys are doing a wonderful job with everything! |
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i might have grouped sha256 coins together.
but unmineable without ASIC is unmineable. I do reckon Peercoin and Namecoin both have good new tech involved, but I am not interested in things I cannot mine.
as the price is easily too centralized.
You've done more than group SHA-256 coins together, you've blatantly miscategorized and provided misinformation on multiple coins. And Namecoin has been merged-mined for years... Anyhow, if you've made $150k profit off of Bitcoins, why haven't you gotten an ASIC? When even top of the line ASICs right now cost under $15k, that's a fairly mitigated risk for someone who has made as much as you claim to have made. Additionally, in order to have made that much, you could have easily consolidated some of your equipment and taken the risk (after all, you must have clearly taken risks to have gotten a lot from BTC). So why not? To be frank, I think you're spewing out a bunch of hot air. if you started on bitcoin in 2010, you will know how and no, I don't believe in ASIC, the moment GPU started to not work, I moved on. Bitcoin mining in the very beginning was just a benching game, I had no idea it would be so profitably then. and I am glad I cashed in at 840 too. anyway, if you listened to my previous selection in Megacoin, you made 10% today dude. so.... You not choosing to get ASICs is not my deal, network protocols change innovation always happens. So not much more I can say about that. But if you are going to attempt to give facts about various alts, don't spread FUD. That's all. Gah, I love it when people try to tell me to invest in blah blah blah. I follow my own investment plan; and I've known about BTC for a long time too. Let's be honest though, when it comes to alts, it's all about luck and timing. I rarely talk about my alt portfolio, but I've made profit on MEC before when I bought last November at 5k satoshi, and sold at around 150k satoshi in December. A 10% change in one day doesn't really tell me a lot, because I will rarely invest as day trading. I will say though, my personal analysis shows me that there is likely a continued positive trend for MEC mid-term (a golden cross that pointed at a height of around 90k satoshi), but really even that is all just a guessing game. |
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I'm not sure if there really is a lot of data for underdeveloped countries; after all even internet usage in those countries is very unknown.
Personally, I'd be surprised if worldwide, we've scratched .1%. I can believe that in developed countries we've hit up to 1%, but to total everything and come up with a 1% figure worldwide is too much of a stretch to me.
By the way I like that article, I gave a shout out to the city I've come to call home!
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Till the coin gets fat
Hahahahah that's perfect answer!  Or till it die 0.00000001 there always few options Sure it is possible but one or few or your coins could go up few hundreds to thousands % (I already experienced this with about 7 of my coins). Timing in investing matters most. Yes timing is very important (but it can be argued that timing is really a function of some sort of luck, hehe). I've also experienced this with quite a few coins. |
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Think about it this way. While you wait to get your mining equipment they can mine and earn. Then sell you equipment and earn even more. Anyway when there was a real gold rush who do you think earned more people selling the equipment to mine (and taking no risk) or people hoping they find some nugget of gold.
Yes, history has shown that during the California Gold Rush, the average merchant made significantly more than the average prospector (especially as the gold rush died down). However, interesting tidbit, the majority of those who were in the top 5% of earned profits were prospectors. Nonetheless, if history can show us anything, it is that the sellers of equipment are usually better off than those using the equipment. |
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atm, I will say OP is so lucky, considering the alternative between he lose half value in WDC or his money and coin stuck in gox.
Yeah, maybe the poor guy needs to somehow find a way that he doesn't take such huge concessions from market activity. |
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