What if the coin arrives on the other end already exchanged into fiat. Then if you wish to convert it back to the coin you again have to go through the client at the agreed exchange rate. Wouldn't that prevent people trying to trade the coin away from the value determined by the algorithm? Eg A sends fiat > b receives coin...want to cash out? Go through the decentralised client exchange. A Sends coin > B receives fiat...want to stay in coinland? As above. Edit: actually this is going too far away from the point of having a coin.  plus you have to consider that fiats change in value as well. what stops someone from changing from COIN/USD. USD changes in value against the EUR and they trade USD/EUR and then from EUR back into coin at the EUR/COIN fixed price. they could end up having a fixed arbitrage that would only get worse as USD/EUR deviate away from their original paired price. See the system already very fluid and trying to force fluids to start still is a waste of energy. better to just try and redirect their flow or better yet let them go where they want to go. |
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also there is a lot of active development by the community. some of it is under NDA right now. I myself have a project that should help drive dgc adoption faster than litecoin and could benefit all alt coins. hope to have some details by the end of the month when it launches. I've sidetracked my other projects to get this done.
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The price of DGC has tripled in a very short time and has been climbing at a faster rate since, any good reason?
someone is accumulating? speculation? |
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Yes, as long as you tell us your idea and we can agree on it.
well I'm curious about the specifications. I could build a stripped down shopping cart plugin that implements the client or a daemon if it is available that sits on the server and generates dgc address for customer profiles. problem is will the client be allowed on a web server. if I can go forward this way I can generate plugins for most of the major ecommerce applications. if not the I would take another approach. I would build a payment gateway like the other poster suggested and expose an api like authorize.net or paypal does. the first way is quick and dirty and gets the job done. the gateway is a more long term approach but will take some time. a few weeks to implement. |
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Does this have to be for woocommerce. What if I were to create one for another ecommerce solution. Does the bounty still apply?
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I don't think there's a coin out there that pegs itself to a fiat currency, but elacoin follows hashing power. In other words, if mining becomes more popular(coin demand, see bitcoin's price rises) more coins are released onto the market via larger reward. This will put downward pressure on the price.
edit: it's assumed that a coins adoption makes the value go up, which makes mining more profitable, which attracts miners and increases hash rate.
There is also a divider to account for things like asic adoption and video card tech.
The OP says the bitcoin price can be manipulated through the normal centralized exchange modelPrice is not manipulated, the market is always right. Any further discussion is void. Something is worth what one wants to give for it. No point in setting the price of a certain altcoin to X fiat if nobody with fiat then wants to buy it. Crypto-currencies are global but people should still be able to go to sleep and not worry that they will wake up to a price crash because someone dumped a large amount of coins while volume was low. there is an economic intelligence deficit in this thread. the response to your statement is it is your fault for paying so much for the currency. I always ask people if I offered you an ounce of gold what would you pay me in dollars, if I also had a cheeseburger what woudl you pay me for that. then if were were stranded on a desert island only two people left alive and I had the same two items how much would you pay me again? price is relative. what you value at any give time is not the same thing you value under different conditions, now imaging what someone else would value something for. if you can't make up your mind from minute to minute what something is worth how are you going to get someone else to value something based on your principals. give up on the fixed price model. now there are ways to keeping prices stable but it does require manipulation of money supply, velocity, and incentivizing and disincentivizing demand. but it does create short term volatility and it doesn't mean that prices won't run away from the mechanisms. |
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jackjack that is a hilarious (love the humor thanks), and in the rare case that you were making a serious criticism then perhaps your inability to distill any useful info is the vacuous space may be your cranium, lol. Just saying. anderl, the sentient advance of knowledge will always be done by humans, never by computers. Kurzweil's Singularity is sensational nonsense (Luddites were making similar dire predictions, global warming and global cooling propaganda scares have repeated in history, etc). Computers and robots are just tools that will make us more productive at that task of creating knowledge. The unemployment is both due to destruction of private markets by the failing socialism and because most people haven't been training to be computer programmers, nanotech and biotech researchers, robotic engineers, etc.. These 78 year cyclical collisions between technological shift and socialism failure often do result in a Mad Max outcome, but more often on local scale (e.g. local strife and massacres) whereas the multiple-century Dark Ages have only occurred apparently 3 times in human history, which I documented in the following linked comment: http://esr.ibiblio.org/?p=4946&cpage=1#comment-402880why do you think I'm speaking of a dire outcome. I"m all for it. I think it will be a net benefit overall. nothing dire about my speculation. we are not thee same human beings that walked the earth a hundred thousand years ago. heck from a social stand point we are much different than people 2-3 generations earlier. 2 to 3 hundred years from now we will still call ourselves humans but will be completely alien to what we consider being human now. again its the slowly boiling frog. |
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a very interesting read and plays on a lot of the ideas and concepts I've read on and taken to heart.
the problem i that technology will surpass us and the human story will end with the beginning of an artificially intelligence presence. like frogs slowly cooking in a pot we are unaware that it is happening. technology is disrupting and rebuilding all the facets of our social and economic lives and in our mindset it is always happening to someone else.
20 years from now we will have artificially intelligence super computers, 10 years after that the same computers will be had for $1000 in hardware. I've long accepted this concept that they will replace us and I know I am doing my part to accelerate it. No point in fighting it as it can't be stopped without the total destruction of the human race.
So have fun while it lasts.
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I sent a PM. Full disclosure to everyone else. I'm not really looking to help code such a project. I work with the Microcash project and we've had a lot of discussions and thought about our work. True innovation takes time, and that amount of time seems to grow exponentially when you work on this stuff as a side project. Regardless, I'm more than willing to talk about my observations and experiences while working on a not-yet-released crypto that's going to look considerably different than anything that's out there. I just hope you don't release before we do.  who cares if it looks the same. IBM compatibles were all the time. People need to stop thinking that there is going to be one crypto that will rule them all. There will be several each with a different purpose because each will perform better at certain aspects of life and or economics. You will burn yourself and your crypto if you try to make it everything for everyone. It will end up just being a mediocre piece of code. The crypto industry will have many player each will have their moment in the sun. |
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hmm have a great idea, but don't know how to program. how do you know it can be implemented if you don't know how to code. I've been coding for 15 years and if I had a nickel for all the people who came into my office saying they have a great idea for a feature or a change request without the slightest idea as to the amount of effort that will be required to implement it. if you can't implement your idea its not a good one. if its so great that its going to revolutionize the world then... This will help |
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Really dude your coin is only going to live at its most 200 days. You are going to run out of coins way too fast, and this is the type of coin people love to baghold. Won't go anywhere.
you miss the point. the coin is not going to "live" for 200 days. Only that the block rewards will exists for 200 days. after that its all transaction fees. if you can't see that then you probably won't be able to predict what is going to happen in about a year. It's the reason why I'm holding all of mine. |
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too rich for my blood. |
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0.00000015 will be longer than the OT soon
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