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1  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] FoldingCoin - MINE FOR MEDICINE- PHASE 2.0 - $1,500 & 100mln FLDC BOUNTY! on: July 25, 2016, 12:03:29 PM
OK. I think I get it now. From the link "You can store BTC, XCP, and user created assets on any Counterwallet address. In fact, you can store any of these currencies on any regular Bitcoin address as well, provided that you have access to the private key of that address."

So I guess that, once I've earned some FLDC, I'll see the FLDC referenced in some way by the BTC address created by the Counterwallet.

Thanks for everyone for answering my questions.
2  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] FoldingCoin - MINE FOR MEDICINE- PHASE 2.0 - $1,500 & 100mln FLDC BOUNTY! on: July 24, 2016, 01:55:36 PM
I obviously don't understand something basic so I will try to phrase this as simply as possible.

How can the FoldingCoin team pay folders in FLDC when the folder does not provide them with a FLDC address? The folder only provides a BTC address (created by the Counterparty wallet).
3  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] FoldingCoin - MINE FOR MEDICINE- PHASE 2.0 - $1,500 & 100mln FLDC BOUNTY! on: July 23, 2016, 03:22:47 PM
Quote
they are paid in FLDC by using a Bitcoin wallet, because the Counterparty layer is on top of the Bitcoin blockchain
so all Counterparty assets are distributed to bitcoin addresses

I see. I hadn't used a Counterparty token before hence my confusion. Thanks for explaining.

This system must mean that the FoldingCoin team convert the FLDC reward into BTC? Is that correct?

This would mean that the only way to obtain FLDC is to buy it from an exchange. Yes?
4  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] FoldingCoin - MINE FOR MEDICINE- PHASE 2.0 - $1,500 & 100mln FLDC BOUNTY! on: July 22, 2016, 11:13:29 AM
Quote
2. COunterparty is built on top of bitcoin, so you can actually store many different counterparty assets on a single address. I recommend watching this movie: https://www.youtube.com/watch?v=adROavBst7E&list=PLzAjhhTQ6zqe_vGecdh5kKE3JCqdhDQPY

I found the video most helpful.

The Counterparty wallet provides a Bitcoin address. You enter username_FLDC_1BitcoinAddress into the f@h client. The text file of all folders is downloaded by the FoldingCoin team and parsed to find FLDC or ALL or SCOT plus the Bitcoin address.

I still don't understand how folders are paid in FLDC as they provide a Bitcoin address not a FLDC address.

In my case, I created a wallet with https://counterwallet.coindaddy.io/#, which gave me a Bitcoin address. Was I supposed to do something else?
5  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] FoldingCoin - MINE FOR MEDICINE- PHASE 2.0 - $1,500 & 100mln FLDC BOUNTY! on: July 21, 2016, 03:57:37 PM
I have recently started folding but there's two things I don't understand.

First, how does the FoldingCoin team know who has signed up with Username_FLDC_1BitcoinAddress? Is this information public? If so, where?

Second, if the folder provides a Bitcoin address (the one from their Counterparty wallet), how are they paid in FLDC since the folder provides a BTC address not a FLDC address? I can see that they could be paid in BTC but not in FLDC. How is FLDC assigned to the folder?

Thanks!
6  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] New Piggycoin [PIGGY] | 3% interest | Web PiggyBank | Android PiggyBank on: July 04, 2016, 11:55:54 AM
I am curious to know if their was a valid reason for the recent price rise. On 1 July, the price hit 120 satoshis. Even now, three days later, it is hovering around 50 satoshis. Previously the price was stable around 20-25 satoshis. I am always curious to see if anyone knows why movements like this happen. Is it based on real news (and hence the rise is sustainable) or some kind of hype or pump?

The volume for the 24 hours around 1 July was ~200 BTC.

Any ideas?

7  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield on: June 18, 2016, 10:22:16 PM
This coin has been pumped and dumped so many times but it's always fun and for some reason there are always enough noobs to dump on each and every time.

Is there ever a "rational" reason why the coin is pumped? To put it another way: with coins like this, how does the pumping actually start. What happens if someone buys loads of NAUT but no-one follows? Or is it a co-ordinated effort - a gang of people?

I'm just curious to know how the pumping works. NAUT is up 300% on Polo at this moment (23:20 GMT).
8  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] New Piggycoin [PIGGY] | 3% interest | Web PiggyBank | Android PiggyBank on: June 17, 2016, 04:15:01 PM
I am wondering how the new game will effect the price. It would be nice to have a price in the 100 or 200 satoshi range. ~20 looks undervalued in my opinion. Hopefully the Piggy people can post or tweet about this.

The Polo trollbox is now obsessed with ETH and DAO. No-one else can comment! No-one cares about PIGGY!
9  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] FoldingCoin - Mine for medicine, Scrypt and SHA256 ASIC proof on: April 24, 2016, 09:24:20 PM
How does FoldingCoin differ from CureCoin which, AIUI, does the same folding@home calculations?

10  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][GAP] Gapcoin - Prime Gap Search - New Math Algo - CPU / GPU - Zero Premine on: April 13, 2016, 08:09:02 PM

Thank you for your comments. Just a couple of questions.

Is there any point "churning" i.e. selling and buying yourself? Do people see volume in itself as useful?

Also, why do you think it is an "inexpensive coin". The price has now fallen to around 900. What, in your opinion, makes this particular coin undervalued?

Actually volume is such an important variable that it is the first thing "experienced" scammers would try to manipulate in order to pump a coin. Before altcoins existed there were conventional financial markets that could be manipulated for profit, but altcoins are such a wide open, lucrative field that this kind of thing is the norm now. The "average" trader even sees volume now intuitively.

Here is a common sense way a speculator would analyze volume,
1) Go to Coinmarketcap.com and click on "675 currencies" or whatever in the top left.
2) Click on the volume column to sort by that.
3) Look at the following rows, in order
a) Market cap. Go to the first mineable, unpremined coin with a low market cap, let's say < usd 100,000, which has greater than 40% increase in 24 hours and >100% in 7 days (looking at those columns)
b) if you go down this list now you will see primarily two kinds of coins. 1) Higher quality coins that are trending up, and 2) coins whose volume is fake in some sense, coins that are being pumped in preparation for a dump. Most are in the second category.
c) Keep in mind that there are a lot of automated programs being used. These try to make tiny profits on a vast number of trades, while churning volume.

So it kind of seems that even though volume is hard to decypher, you have to count it as an important variable.

As to Gapcoin specifically, here are some points to think about.

When the next crypto surge occurs, like happened in late 2013, people will be focusing on specific types of coins. There will be the "panic buying" mentality that creates chaos in all coins, but smarter stable long term money will be more disciplined than in 2013.

Most likely the money that enters cryptos will be directed by journalists opinions. Somebody will write an article about cryptos that mentions some coin in a positive way and a bunch of people will try to buy $40,000 worth of that coin even though only $2,000 worth is for sale, and at some point this dynamic will create a publicity storm.

So pretty soon any coin is going to look cheap. But you have to estimate, based on what you know about society etc, which coins are likely to be better off after the next surge relative to other coins. It's my guess, only a guess, that Gapcoin will do quite well. Market cap right now $25,000. So somebody comes along and wants to buy $200,000 worth what happens? We'll see. 



I do understand that volume is important. I have a small position in a coin which has virtually zero volume. I also think that the potential for buy orders is important.  Obviously, the price may rise based on a few buys (considering the lack of volume) but if no-one wants to buy unless the price is 20,000 below the current price, it's not so helpful.

In terms of volume, does it need to be based on news? For example does GAP need to have something positive happen for the price to rise?
11  Alternate cryptocurrencies / Altcoin Discussion / Re: Do people seek to arbitrage alt-coins? on: April 13, 2016, 08:03:05 PM
too many bots doing this 24 /7

So why isn't everyone using bots? I'm sure there's a reason that I have overlooked (since I've never even considered using one).
12  Alternate cryptocurrencies / Altcoin Discussion / Do people seek to arbitrage alt-coins? on: April 13, 2016, 04:53:18 PM
For example, buy an alt-coin at price X or one exchange and sell it at price Y on another?

I have no experience as I've only ever used Poloniex. As a variation, I've foolishly bought some very thinly traded coins e.g. CNMT and am wondering if they is a way to dispose of them outside of Poloniex (where there are very few buy orders).

Any suggestions / ideas / thoughts?
13  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][GAP] Gapcoin - Prime Gap Search - New Math Algo - CPU / GPU - Zero Premine on: April 13, 2016, 04:42:15 PM
More accurate to say that normally volume indicates that a move has some technical significance. People who study charts, technical analysts, consider volume very important.

The problem with cryptocurrencies is that
1) You never know what volume is real. Paying 0.x % fees a person may churn the volume as a marketing ploy. Buy and sell ridiculous amounts since some traders sort lists like CoinMarketCap by volume and look for spikes in volume that indicate something. This isn't likely with gapcoin though.
2) Cryptos are still so small that a lot of people are financially capable of moving a market in a major way with little money. Maybe somebody noticed that Gapcoin was created on their birthday and their middle name is "gap" so they took it as a sign from heaven to sell their retirement fund and put it all in Gapcoin. You just don't know what significance the volume has since it could have been one person creating it, for reasons that may be "unnewsworthy".

However, the simple fact that Gapcoin is a higher quality mathcoin, likely to attract the interest of people with longer term focus, suggests that there is some more valid reason for the buying, even if we don't know what it is.

My guess would be another exchange buying up a supply in preparation to list it, but that is only a guess. Second possibility is just somebody who looked at market cap and depth, did some calculations, and decided they could take over the market, including buying new coins, at x price and would make a better profit on Gapcoin than on other coins.

Ultimately it still is an inexpensive coin. The original dev pops up every now and then, and probably will sometime in coming weeks or months. New people moving into crypto will tend to focus more on "productive algorithms" than people in past years did. Gapcoin has gone up a lot but still has better long term chances than many other coins.

Thank you for your comments. Just a couple of questions.

Is there any point "churning" i.e. selling and buying yourself? Do people see volume in itself as useful?

Also, why do you think it is an "inexpensive coin". The price has now fallen to around 900. What, in your opinion, makes this particular coin undervalued?
14  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Memorycoin ★ Modern CPU PoW ★ COMPLETELY GPU/ASIC FREE ★ NO Free PoS on: April 08, 2016, 10:28:48 PM

Seems pump-and-dump attempt.  Wink
More interesting thing is a 170K mmc wall at 3600...

I don't see the wall on Polo - maybe it's already gone.

When you say "wall", you mean that, at 3,600, 170K of MMC will be sold thus pushing down the price, correct?

Is it possible to have a "fake wall" if one does not own 170K of the MMC?
Somebody set sell order of 170K mmc at 0.00003600 BTC. Now it's 66K mmc at 0.0003700
And no, you can't set a "fake wall", because you have to hold the coins in your exchange wallet to trade them.

So when you say the 170 MMC sell wall is "interesting" it was "interesting" because...?

Forgive my naivety but I'm just trying to understand.
15  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] New Piggycoin [PIGGY] | 3% interest | Web PiggyBank | Android PiggyBank on: April 08, 2016, 05:40:54 PM

The other issue is how do people profit from such speculation. I can only imagine they are constantly viewing the trollbox and making very quick decisions to invest. But this would surely necessitate being glued to the trollbox. Yes?

I think so. I noticed the spike about 3-4 hours after it happened. IIRC the volume was pretty massive. It's been a couple hundred BTC the past few days, more than the market cap of PIGGY itself. But since only a fraction of PIGGY is sitting on Poloniex that implies pretty fast trading, with people buying and then selling again within hours or less.

I played a little at that back in 2014, I guess for some people it's fun. But I found it stressful and not worth the modest profits (if any) involved.

PIGGY is now 33 on Poloniex. So it hasn't gone back to 18 and, in that sense, has almost doubled in value. I will assume that many people who bought at higher rates are hoping the price rises. There are a bunch of sell orders around 50+.
16  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Memorycoin ★ Modern CPU PoW ★ COMPLETELY GPU/ASIC FREE ★ NO Free PoS on: April 08, 2016, 05:30:21 PM
Hello,

I note on Poloniex that the price has ranged in the last 24 hours from 1,800 to 4,100. The volume is 13 BTC which is not bad for a less well-known alt-coin. Does anyone have any idea for this rise?

Also, on March 18, the price shot up to around 40,000. The volume was around 7 BTC. Any thoughts on why this occurred?

Thanks for the suggestions / ideas / opinions!


Seems pump-and-dump attempt.  Wink
More interesting thing is a 170K mmc wall at 3600...

I don't see the wall on Polo - maybe it's already gone.

When you say "wall", you mean that, at 3,600, 170K of MMC will be sold thus pushing down the price, correct?

Is it possible to have a "fake wall" if one does not own 170K of the MMC?
17  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Memorycoin ★ Modern CPU PoW ★ COMPLETELY GPU/ASIC FREE ★ NO Free PoS on: April 08, 2016, 03:28:12 PM
Hello,

I note on Poloniex that the price has ranged in the last 24 hours from 1,800 to 4,100. The volume is 13 BTC which is not bad for a less well-known alt-coin. Does anyone have any idea for this rise?

Also, on March 18, the price shot up to around 40,000. The volume was around 7 BTC. Any thoughts on why this occurred?

Thanks for the suggestions / ideas / opinions!

18  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][GAP] Gapcoin - Prime Gap Search - New Math Algo - CPU / GPU - Zero Premine on: April 07, 2016, 06:54:03 PM
Quote
News? IT'S HAPPENING!

what are the news that such a course is raging? Shocked

Probably nothing except someone bought literally ALL THE COINS and now will try to pump it in order to dump it. Well if he manages to break the world record with his effort no problem with me.

According to Poloniex, the 24 hour volume is currently 33 BTC.  So this is not one of these alt-coins that rises 200% on volume of 1.5 BTC.

So, as was asked earlier, is there any news or rumours of news? AIUI, most spikes that have volume derive from some kind of news whether legitimate or not.

Any ideas? Thanks.
19  Alternate cryptocurrencies / Altcoin Discussion / Re: What is happening (if anything) with BitCNY? on: April 07, 2016, 11:50:45 AM
I bought a small amount on Poloniex some time ago. The BitX environment strikes me as innovative and forward-focused.

However, the volume of BitCNY on Polo is dire. Amazingly, today there has been volume of almost 1 BTC. Usually it is about 0.2 BTC.

Can anyone please tell me what is going on? Why is this coin so under-appreciated? Many thanks!

There are so many Alts that are on Poloniex, only a few will actually be sucessful, some might be good ideas but too late to the party, others are just scams or trying to get involved in the boom.

I don't know about BitCNY (rubbish name by the way) but unless something serious happens, with less than 1 btc volume per day, it will be hard to see a big price increase coming.

BitCNY is not an alt coin or block chain.  BitCNY is a derivative(market pegged asset) of CNY on the Bitshares block chain.  The whole idea of BitCNY or BitUSD, BitEuro, etc... are to maintain those values, thus you will not see "a big increase in price coming."

Read up on the BitShares project to better understand this.  They are trying to produce a decentralized exchange, financial platform, FX markets, Fee Backed Assets, the list goes on and grows daily.  One of the issues with BitShares is the scope of the project, its like hearing about BTC for the first time and will take a lot of research to understand its importance.


Thank you for the explanation. My impression then is that there is no "rational" or "logical" reason why BitCNY or BitUSD should be cited on Poloniex. In terms of the "big increase", I would note that, according to Poloniex, the monthly price range from 13,333 to 244,394 (with two spikes) which shows some kind of actionable price increase. You can see this if you look at March 18 and March 20. I'm curious as to why (if there is an obvious reason) these spikes occurred? Thanks again!
20  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][CGA]Cryptographic Anomaly - Multipool is LIVE! on: April 07, 2016, 09:13:39 AM
Summary - CGAnomaly   Picture/Text
Name:   CGAnomaly
Posts:   97
Activity:   56
Position:   Jr. Member
Date Registered:   September 04, 2014, 10:08:04 PM
Last Active:   November 15, 2014, 09:42:30 PM
This is a dead coin without takeover

It would certainly appear that way. However, right now (10:00 GMT) CGA is up 45% on Poloniex (albeit with under 2 BTC volume).

What do you mean by "without takeover"?
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