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Apparently Bittrex has a long waiting time, so after I apply for Bittrex, any other exchanges you'd like to see Iridium on in the nearer future? (ones with shorter waiting times)

WTS 8000 iridium-12500 sat.per coin.if you want-200 sat per 1 smartcash(wts 89000 smatrts)

You highly support the coin hu?.... I will sell you 1,000 IRD for 46,786,000 Satoshi. That's an amazing deal at $2.00 USD per IRD. Deal?  

This project is only 5 days, need more time to develop

Alamin99 - I'm sorry if you felt my post was attacking you.  It was only attacking the idea of a low price, but I don't think it actually accuses you of anything.  You're a buyer, which is always good for a coin's interest regardless of price.

To respond to your nicehash valuation strategy: I think your 200 sat calculation is off for the following reason: when you use the calculators on the pools, they don't account for how much difficulty your own hash adds.  Think of it this way: at 175 second blocktimes and 95 coins/block, the max daily supply is ~493 blocks/day * 95 IRD/block = 46835 IRD.  But right now the pool calculators will show you that its possible to earn 273,000 IRD in one day if you put 1 MH/s.  That's obviously impossible.  The pool calculator is not considering that difficulty will skyrocket, and your reward will fall sharply.  Plus, you may set the NiceHash order, but when others see higher hash, they will also switch to mining IRD, so difficulty will go up even more.  There are also other issues with NiceHash - ordering can be a pain, there are NiceHash order fees to consider, BTC transfer to NiceHash (and those fees too) to consider, you need to monitor it constantly, sometimes the hashrate at the pool is lower than purchased hash, etc etc.  So you cannot simply price the coin at the NiceHash equivalent, because you're saving yourself a lot of time, fees, and headaches when you buy instead of mine.

That being said, I do agree that if you are willing to use NiceHash, then you can mine the coin more cheaply than my estimate of the price.  This is a natural consequence of being an early miner in this coin.  But it doesn't mean I'm wrong about the price/value of the coin, it just means mining is more profitable than buying right now.  Part of this is the risk premium, part of this is because people aren't always aware of new launches so we're the better informed parties, and part of this is because I suspect a lot of NiceHash orders are set by bots to mine Monero.  The answer here is that you shouldn't be trying to buy from other miners at the NiceHash price (and anyone selling at the NiceHash price of CryptoNote mining - why not just sell your hash to NiceHash?).  You should just place an order at NiceHash and be one of the early miners invested in the coin.

Also I'd like to respond to this as well:


Firstly, the beta explorer (https://explorer.mine77.net/) clearly shows the supply is still less than 400,000 IRD, many hours after my analysis that conservatively used a much higher supply to give a low-end price estimate.  Second, you are right that there will be an initial sell-off, but you are overestimating the "dump" because even if it gets to 1 million coins, that's far, far less than other coins.  Again, look at SIGT: I think it was launched July 14 (https://bitcointalk.org/index.php?topic=2030529.0), listed roughly July 25, and its first low point was about Aug 2 when it hit around 650 sats (https://www.cryptopia.co.nz/Exchange/?market=SIGT_BTC).  But on Aug 2, there were at least 21600 blocks (http://explorer.signatum.download/block/8ff7487af422d46be0514bf09758cfdbce7a8c80fb5bf6572e6da414e18d7728), and with a 2500 block reward, that means a 54 million supply.  And, remember - two weeks into SIGT, that coin had nothing, not even a real roadmap.  So even if you're right that the IRD supply might be 1 million at launch, it will still be 54 times more rare than SIGT.  And at SIGT's lower, post-dump price, it was 650 sats, so a coin 54 times as rare (worth 54 times as much) has a potential post-dump price of 54 x 650 = 35,100 sats.  Surprise, that's almost exactly what I estimated in my early valuation using the BCN comparable.  So it's robust to your assumptions of a 1 million supply and a post-launch dump.

Frankly, I am very appreciative of everything you (Alamin99) are doing to support this coin, like buying the domain.  I strongly suggest you do what you suggested, which is mine it through NiceHash, because you have a real profit opportunity here while the coin is undervalued due to its young age.  If people are willing to sell IRD to you at the NiceHash mining price, they are way undervaluing the coin, so you should buy them out but they will regret it in a month (and if they want to sell NiceHash prices, they should just sell their GPU power to NiceHash).

That's a great domain, if you're giving it for the project, go ahead and PM me the details, and thanks again man!

Ok, will certainly get back to you.  But what is your minimum bidding price.

Address need in this topic


Oh no, we are looking for a web designer. Working on a new release wallet.


Now, I will send all TheBasis

Is the wallet working correctly? I can't make a backup and only can find a wallet.temp file in the wallet folder.

Where is the wallet.dat saved? Thanks

What price are you desire? 

lol thank you for posting your answer. This is why he's trying to buy them before they hit the exchanges. He was aiming for 200 sats w/ me. This coin is going to be a good one to get in early on, just like Sig. I was glad I got in on that one in the first 24 hours, I'll be glad I got in on this one as well, just like everyone here... IF THEY DON'T SELL THEM TOO SOON.

Though the start price goes high, that won't stay long. Remember, nearly 1 million coins have been mined already. Also, as I guess, it will take 20~25 days to get listed on exchanges. So, there will be huge coins available at market and the price will crash for sure. Then the race will be who can dump his coins first. After price tanking for long days, it may get a bounce back then it will be stable.
And about mining, I am mining with my GPU, will try nicehash. According to nicehash price and current difficulty level, mining cost per IRD is less than 200 satoshi.

WTS 1000 IRD @15000 sts each. 

50 sats?  I think that's a heavy undervalue.

Let's look at the potential of Iridium, with citations to my assumptions:

ANN tells us (https://bitcointalk.org/index.php?topic=2150442.0):
-No Premine
-Fair launch
-LOW TOTAL SUPPLY: most of supply emitted in year 1 (18,750,000 of 25,000,000).  This means this will not be a dumpmine coin, because mining rewards will get low soon -> early holders will get massive reward.
-CryptoNote coin

On the downside, roadmap is a little unclear, but this lets us implement a strong comparable: ByteCoin (BCN), another cryptonote coin which has little utility right now (their "ecosystem" is all pools/exchanges, which means they have no real functionality yet, see https://bytecoin.org/ecosystem/).  BCN has a nethash of 4 MH/s (https://minergate.com/blockchain/bcn/blocks) and a market cap of $287 million (https://coinmarketcap.com/currencies/bytecoin-bcn/).

Iridium has a nethash of ~147 KH/s (https://mine77.net/).  Let's discount that to 140 KH/s because it might be volatile right now.  So 140 KH/s out of 4 MH/s is 3.5%.

If we value Iridium at 3.5% of BCN, that's US$10.05 million.  But of course, we must discount for the 3.5 year head-start of BCN.  On March 12 2014, BCN launched (https://bitcointalk.org/index.php?topic=512747.0).  Crypto market cap was US$9.167 billion that day (https://coinmarketcap.com/charts/).  Today, crypto market cap is US$144.134 billion (https://coinmarketcap.com/charts/).  So crypto market cap was only 6.36% of today's market cap on the day BCN launched.

If we apply 6.36% to the US$10.05 million potental for Iridium (to discount it back 3.5 years), we get a US$638,860 market cap estimate for Iridium today, right now, based on current hash (as hash and time increase, value will increase).  The US$638,860 is the value of the current supply already emitted.  Also consider that SIGT (a recent no premine coin), a currency with a roadmap and a plan but no product, has a market cap of US$4 million after less than two months (https://coinmarketcap.com/currencies/signatum/).  So over $600,000 for a new coin with a fair launch and no premine is not out of the ordinary, and very achievable.

Now, current supply is a little hard to figure out because the block sizes are not uniform.  Users are reporting block rewards ranging from the 40s to about 94 (see https://bitcointalk.org/index.php?topic=2150442.msg21584105#msg2158410 and https://bitcointalk.org/index.php?topic=2150442.msg21587151#msg21587151).  If you keep an eye on "Last Reward" at a couple of the pools (https://mine77.net/), you will see the same - block rewards fluctuate from 94 to 60 to something in the 40s.

Let's take a buyer-friendly assumption, and assume all blocks are size 95.  This is buyer-friendly because the more I increase the current Iridium supply in this estimate, the lower the price is.  I am giving a maximum possible supply.

Current blockheight is 4283**.  That suggests a current supply MAX of 4283*95 = 406,885.

Price then is simply US$638,860 estimated current cap divided by 406,885 max current supply = US$1.57 per Iridium.  If we conservatively assume $4200 per bitcoin (price as of writing is $4122) then the satoshis value is 1.57/4200 = .00037380 Bitcoin or 37380 satoshis.

If you want to argue that's too high, by all means do so, but I have given a very conservative estimate of value and even my large overestimate of supply illustrates how small the supply of this coin really is.  So please argue against the math, not some generic notion of why this is too high.  I realize the supply is growing, but so is value in terms of hash and time, and given that more than 50% of blocks seem to have rewards in the 40s (unlike my assumption that all are 95), I have probably already estimated the price at nearly half of what it should be.  If you want to apply a further haircut for risk, by all means do so, but this coin is likely worth over 20k satoshis, and possibly as high as 50k.



**Note: I wrote this like 60 mins ago.  There may be a few more blocks since then, but I have already severely overestimated supply (thus underestimating price), and even another 400 blocks will only affect my calculations by 10%.  Some of the other numbers may have varied a little too, but the Iridium hash is up to 150 KH/s, which is 7% higher than the value in my estimate.  So my estimate is still conservative.

TL;DR: good mathematical basis for estimating value at 37380 sats.  If you want to apply a margin of +- 50% for risk, that still means a value over 20000 sats.  People need to really understand how low the supply is.  Don't sell at 50 sats per Iridium.

Edit: some math fixes.

Though the start price goes high, that won't stay long. Remember, nearly 1 million coins have been mined already. Also, as I guess, it will take 20~25 days to get listed on exchanges. So, there will be huge coins available at market and the price will crash for sure. Then the race will be who can dump his coins first. After price tanking for long days, it may get a bounce back then it will be stable.
And about mining, I am mining with my GPU, will try nicehash. According to nicehash price and current difficulty level, mining cost per IRD is less than 200 satoshi.

Website will come after current roadmap development, so I assume it will be after we apply for an exchange, and during the waiting time I will be developing the website.
The domain will probably be something like iridiumproject.io, etc.

I can't get 1 BTC worth but I have access to about 2,600 IRD. Would you still be interested? Do you have an offer price in mind for that amount?

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