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Looks interesting. Incentivizing good content is always a plus.
How do you make money off of this though? You seem to just be handing out free money, with no opportunity for your own gains. I presume you control a large share of the currency that a boost in site popularity will give you cash through a value upswing, allowing you to slowly cash out over time?
Like ripple labs, steemit the company holds the majority of the crypto token. Unlike ripple, their holding is vested, and by the blockchain rules, vested steem ( steem power) has a vesting period of 1 year. Like ripple, steem requires accounts to be funded with minimum balance of the crypto token. If the user base increases, so does the scarcity of the token, increasing its value. In addition users are encouraged to acquire and vest additional steem in their accounts, as this balance determines their voting power. Users that vest steem demonstrate a long term commitment and belief in the platform, and so naturally they should be rewarded more for their activity on the platform. After July 4, users will be rewarded daily in a smart token, steem dollars. Steem dollars will be trade able for steem on the steem blockchain, and have no counter-party risk. The blockchain guarantees the steem dollars redeem-ability at $1 worth of steem. The white paper contains more information on how this works. |
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what this conference a flop? They wanted to get 2,000 attendance... yet the media blackout makes me question whether they got even 100.
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I think this coin is a fraud.
I think you are a cat. mutilated cow  |
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why don't you keep it simple. no sharedrop on btc or ltc. for it even to be worth someones time to redeem a btc or ltc key on the DPOS chain for rand paul coin, the market cap would have to be in the tens of millions.
also can we call them rand paul shares or paul shares? that is a better name to convey it's DPOS blockchain technology.
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objectively we are in a b*** market.
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wait. Is China north or south from Mexico? china is south of mongolia which is parallel to greenland so south. |
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I just sold the 10 GOXbtc I had for profit, I did not expect to be able to do that.
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bitcoinbuilder rallied to 0.107 hahaha. that can't last long.
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Any speculation as to why LTC/BTC and LTC/USD are going down a bit? Litecoin seems to be an even bigger bear market atm.
Generally when bitcoin takes a cold, alts take swine flu. When bitcoin comes down with a cold, alts get swine flu. |
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I looked up what this meant posted on mtgox.com ANNOUNCEMENT REGARDING AN APPLICATION FOR COMMENCEMENT OF A PROCEDURE OF CIVIL REHABILITATION 1 Answer Japan’s Civil Rehabilitation Law was intended “to enable application for rehabilitation procedures and the commencement of such procedures prior to the occurrence of bankruptcy factors.” [1] Holding the creditor meeting is arbitrary [2] to enable a debtor to continue with the execution of its business and management/disposal of its assets, [3] and otherwise sustain operations, while committing to corporate rehabilitation.
Although the Corporate Reorganization Law applies only to joint-stock corporations (kabushiki kaisha, or KK, in Japanese), the Civil Rehabilitation Law covers all companies, including foreign-affiliated businesses. Although management can begin corporate rehabilitation on its own prior to the stage of collapse, the law was enacted as a “process to prevent business failure.”
Under Civil Rehabilitation Procedures, assets and liabilities are reassessed as if bankruptcy has occurred, [4] and expected bankruptcy dividend amounts are established. This assessment of assets is conducted, in principle, on the basis of selling price, [5] and a dividend based on the liquidation value is applied to the rehabilitation creditors (principle of liquidation value guarantee [6] ). However, civil rehabilitation companies continue their operations in principle and do not actually liquidate, so any earnings from their remaining assets can exceed reassessed liquidation value, creating a framework in which a business can be rehabilitated swiftly.
Corporate rehabilitation has been limited to a select number of companies in Japan. Among small and medium-sized enterprises (SMEs), many companies are unable to find financial support and are forced into bankruptcy (i.e., liquidation) without any prospect of reorganization. According to a survey by Teikoku Databank, only 2,841 of the companies that filed for protection from creditors under the Civil Rehabilitation Law obtained approval for their rehabilitation plans. That accounts for only 66.7 percent of all applicants. [7]
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Their liability figure for all we know could just the actual dollar/yen withdrawals it wants to make good on, and dollar/yen deposits it plans to refund - taking into no account internal customer btc/fiat balances.
I think it would be signifiant to know if Gox is planning to disclose a record of its customer account balances, or if it will try to keep that private.
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I've been thinking due to the volume of trade on bitcoinbuilder, and the efficiency and timeliness of the exchange, that it could be possible that bitcoinbuilder was mtgox coordinated effort to facilitate the selling of goxbtc (which mtgox can fabricate) for real btc in order to raise funds.
Gox, or a company planning to takeover Gox, can right now buy 8 GoxBTC IOUs for 1 real BTC at BitcoinBuilder. This would be a legal way to give depositors a voluntary "haircut" outside of bankruptcy. Eyeballing the bitcoinity chart, it looks like they've done about 80,000 GoxBTC in trades. A lot of this was swing trading, but perhaps 20,000 GoxBTC have been bought for an average price of 0.25, or 5,000 BTC. Of course we can't know, but if this was a coordinate effort to buy up the IOUs for cheap, then this action could have reduced Gox's BTC liabilities by about 15,000 BTC. If the 750,000 BTC loss is FUD, this might make sense... That's a good way to look at it thanks! Would it not be possible for Mtgox to credit an internal address with 1000 GoxBTC / IOU's, deposit them on BitcoinBuilder and buy up real btc? Both scenarios are possible: your's where they create fractional-reserve fake GoxBTC in order to get real BTC [and criminally increase their BTC liabilities], and mine where an interested third party buys up the GoxBTC for cheap [to reduce Gox's BTC liabilities for the takeover bid]. Your scenario is fraud pure and simple, while mine I think would actually be legal. I hope that I am right, but, at this point, who knows. I'm thinking they will do whatever possible even illegal, in order to make good on customer deposits to avoid some type of investigation/prosecution. |
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I've been thinking due to the volume of trade on bitcoinbuilder, and the efficiency and timeliness of the exchange, that it could be possible that bitcoinbuilder was mtgox coordinated effort to facilitate the selling of goxbtc (which mtgox can fabricate) for real btc in order to raise funds.
Gox, or a company planning to takeover Gox, can right now buy 8 GoxBTC IOUs for 1 real BTC at BitcoinBuilder. This would be a legal way to give depositors a voluntary "haircut" outside of bankruptcy. Eyeballing the bitcoinity chart, it looks like they've done about 80,000 GoxBTC in trades. A lot of this was swing trading, but perhaps 20,000 GoxBTC have been bought for an average price of 0.25, or 5,000 BTC. Of course we can't know, but if this was a coordinate effort to buy up the IOUs for cheap, then this action could have reduced Gox's BTC liabilities by about 15,000 BTC. If the 750,000 BTC loss is FUD, this might make sense... That's a good way to look at it thanks! Would it not be possible for Mtgox to credit an internal address with 1000 GoxBTC / IOU's, deposit them on BitcoinBuilder and buy up real btc? |
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I've been thinking due to the volume of trade on bitcoinbuilder, and the efficiency and timeliness of the exchange, that it could be possible that bitcoinbuilder was mtgox coordinated effort to facilitate the selling of goxbtc (which mtgox can fabricate) for real btc in order to raise funds.
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Posting in this thread for posterity. I was there for the last Goxxing we'll ever experience.
Thank. Fucking. God.
You are wrong. mtGox will return. |
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cryptocurrencycharts.com also redirects, as well as another domain I discovered (that I now forget). they bought some good domains.
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the future of bitcoin is with the miners. I'm excited to watch the battle unfold.
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Let's assume someone stole the money - go out and collect donations to feed the hungry and then get robbed on the way home, you don't really feel motivated to go out trying to do that any more, so you do something else for a while. That's not a scam, that's called life.
If anything, RS should pay back not the 250btc, but the value of the btc back then in btc. That said, it was a donation, so anything you'd receive back would be out of his good will.
If he did keep the money, and it wasn't stolen? That's pretty poor form, and he should pay back the value of the btc. Honestly though, if he were a scammer, it would be so much easier to claim option A, and pay back peanuts to shut you up so that he could continue scamming unchallenged, so chances are decent that it was a genuine tragedy that you should move on from.
yeah this is a good point. RealSolid is kind of a mystery to me. when I was trading on mcxnow, I would see him very often in the chat. responding to anybody, making jokes. for someone that needed to keep their identity concealed, this seems like risky behavior. for instance he talks about (i remember) as a child, he wrote computer programs on paper, and ran them in his head. yeah that's intriguing I guess. I think maybe he has a psychological disorder. maybe just a neurotic personality type. actually I think that would explain a lot... but it's not a satisfying answer to explain all his contradictions. |
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botnets are a problem but it depends how many. If botnets only make up 5% of the network, then they are having small effect on the price - and the price is mostly being set by honest miners.
the same can be said for server administrators taking advantage of their networks, mining primecoin at zero expense. There is only a finite capacity of botnet miners and zero-expense miners. I think they can be overwhelmed in time by serious miners who set up professional cpu rigs - who then becomes the major determiners of the xpm price.
At this point I think at-home-miners are struggling to overtake the zero-expense miners. and probably will for some time, unless more investments are made into xpm mining.
and GPU mining is still a possible factor... which might make investment into cpu-rigs cautious.
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Assuming this is run like a normal business with an office and people and expenses. wishful thinking. no, we have to live with the fact this exchange is the project of realsolid. He did announce he is going on a diet again in the chat today. I find this good news - hoping he will stick to it this time. he has explained "eating food" makes his thinking worse. but he also says life is less exciting without "eating food". I found this a strange comment (how does food make life exciting?) but others are more convinced of this point and paradoxically see his decision to diet again as a net negative for the exchange. |
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