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1021  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [BLRY] ***BILLARY COIN***| PoW/PoS | BREAKING NEWS: PARTNERSHIP ANNOUNCED on: June 01, 2016, 09:33:22 PM
Suggestion

BLRY and FollowMyVote needs to send out some press releases to every media outlet possible in the U.S. as well as international media.

So we're actually in the process of getting some dedicated media guys on board to help with media presence. I'm negotiating with one firm right now who has agreed to accept BLRY as payment. I have another firm which is interested in promoting our coin, but they only accept BTC, 0.15 for the first week, and 0.10 for every week thereafter. We will be going forward with the first option right now, and if things change, we'll get the other one on board too, but for right now it's too rich for our blood.

And I should point out that our most precious resource is our community, it's you guys who will make or break this coin. I hope that anyone invested in BLRY is helping to spread the word. Getting twitter accounts with lots of followers to re-tweet posts from https://twitter.com/BillaryCoin would be huge. And I'd really like to have the blog post www.billary.rocks/blog moving around.

Great news that the media team is willing to accept Billary, they have an added incentive to perform well!

Anyways, still hodling my Billary, still very bullish on it's future. All hail our Clinton overlords.
1022  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [PRE-ANN] WAVES. Ultimate crypto-tokens blockchain platform. on: June 01, 2016, 09:28:00 PM
Damn, really upset I missed the free twitter Waves. Oh well.

Anyways, I checked my ICO account and I've got 325 waves, as opposed to the almost 2k that was listed earlier? Was that estimate vs actual or what?
1023  Alternate cryptocurrencies / Altcoin Discussion / Re: Poll: what will be the price for 100 DAO tokens? on: May 26, 2016, 10:12:59 PM
Is there an ELI5 on the DAO crowdsale anywhere? All I've heard is ETH shills think it is the next great thing, and a lot of others are skeptical and widely considering it as a scam. What exactly are DAO tokens and what do they do?
1024  Economy / Games and rounds / Re: [Primedice.com] 3 Year Anniversary Giveaway! on: May 25, 2016, 10:35:53 PM
Username: jeffthebaker dunk (put BCT instead of primedice, my bad!)
1025  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][LSK] Lisk | Blockchain Application Platform for JavaScript Developers on: May 24, 2016, 11:36:39 PM
Anyone know what kind of delay I'd be looking at sending LISK between exchanges? I'm buying on Polo but I want to trade it over in the dipshit land known as yobit.
1026  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][LSK] Lisk | Blockchain Application Platform for JavaScript Developers on: May 24, 2016, 11:26:05 PM
lmao I knew this was going to happen. All these panic sellers on launch day are going to be kicking themselves in the ass when they see prices rebound shortly. Everyone who wants to sell is selling now. Buying up as much LISK as I can and going to enjoy a hefty profit at this time tomorrow. Thanks chumps!
1027  Alternate cryptocurrencies / Announcements (Altcoins) / Re: ★★★ GameCredits - The future of in-game monetization ★★★ on: May 19, 2016, 10:26:28 PM
So can I earn this coin by playing game? How can I do it? It would be awesome to play and earn money while I'm watching charts and trading... Cheesy

No, you canīt.

From Webpage:
"A new and exciting gaming currency that will revolutionize in-game purchases and bring developers a monetization based on fair-play rules"

Once GAME is adopted by fantasy and/or manager sports, you will have the opportunity to win GAME.

Is there any chance we will see a video game economy backed by GAME? It's great to know that games are incorporating it into their marketplaces, and fantasy sports is huge too, but I personally think the REAL potential in GAME lies in its ability to be used as a currency across mmo's.
1028  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: [WTS] 1 copy of C.A.T. Cryptocurrency Automatic Trader on: May 19, 2016, 05:48:30 AM
Do you have any proof that Sampey has confirmed your eligibility to resell? Without any verification of such a claim, it's hard to chalk this thread up as anything more than a newbie account trying to scam.
1029  Alternate cryptocurrencies / Announcements (Altcoins) / Re: ⋞ANN⋟⋞TRAP⋟ TRAPCOIN | Crypto Currency Backed By Minecraft Economy on: May 18, 2016, 01:51:48 PM
So there is a GARGANTUAN problem with a crypto economy on a drug server. The way that drug servers work is that people grow crops (drugs) that they sell back to spawn in order to rank up in the game. You said that the economy will be player to player, but a large, large majority of transactions will be the server selling Trapcoin (in game currency) to the players in exchange for these drugs. Where will this Trapcoin be coming from? If it is being generated at will, there will be a massive hyperinflation of the currency, because making money on a drug server becomes exponentially easier over time (the more time you put into the game, the more money you can earn and the more your profits are increasing).

Now, if the economy truly is player to player, and there is no server shop to buy/sell from, you run into the problem that players aren't going to exchange trapcoin with one another. Farming crops is insanely easy, nobody is going to purchase any drugs from one another when they can easily hoard them.

There are other issues with the set up (/fly on a pvp/anarchy server is insanely unbalanced) but the main problem is that I just don't see how you could make such an economy work. One way that COULD work would be for the server to have its own wallet, and every rank up or perk purchase sends all coins into that wallet. Server shop has fluid prices based off of the size of the wallet and prices will depreciate/appreciate as the server bankroll decreases/increases. However, people will be trying to hoard their crypto more than they will try to spend it, so it's a very real possibility that in such an economy, server shop prices would eventually depreciate to 0.

Let me end this by saying I, too, have been playing Minecraft for quite some times. I've been heavily involved in a multitude of servers, including playing an active role in one server from its inception, to its appreciation to the #1 most popular server (back in Beta 1.8 ) to its ultimate demise. I have also designed server economies. I love Minecraft, and what I love in particular is the economic aspect. I know exactly what does/doesn't work. If you need any advice or would like some help, feel free to let me know.

The problem isn't the method of exchange, the problem is the type of server that trapcoin is to be implemented on. As far as Minecraft servers go, an in game currency that represents some denomination of the crypto is an absolute must. Things happen fast in MC. It takes only a simple chat command to send any amount of money from one player to another.

The problem is that drug servers typically operate on command economies: players farm drugs and sell them to the server (which is typically an entity with infinite spending). Players accumulate money and then buy upgrades and rank ups from the server. This is fine for a server where the in game currency has no real life value. In this instance, however, it's hard for me to believe that OP could foster an environment that isn't unplayable or suicide for the crypto.

 I'm really thankful you're discussing this with me. It's about time someone gave some minecraft related input in this topic.

 The TrapCoin won't be coming from an infinite source. Not sure if you saw my post above, but I own approximately 13% of the TrapCoin in circulation. I'm using the chestshop plugin along with SQL economy bridge plugin. The chestshop plugin by default, has an infinite balance for admin shops. In the plugin config I have the server economy account setup. This makes it so the server doesn't just keep spitting out money when it doesn't exist. That along with the SQL economy bridge plugin, php jsonRPC and a php cronjob running at every 3 minutes, will keep the server balance updated to the actual balance of the TrapCoin wallet. So far that's all I've implemented for making sure that the funds in game are actually there. There's also a 50 million dollar player balance cap that I've set with essentials. This means the max amount of money a player will be able to withdraw at any time will be 5000 coins.

 Your idea of having dynamic drug prices based on the server balance is truly genius. I had actually never thought of doing something like that. The only thing is, the current chestshop plugin doesn't have SQL support so updating the prices in the shop would have to be done manually. :/ I'm gonna do some looking around and see what I can do.

 As for an exchange, I will be setting up a buy/sell category in the Trap Life forums. Selling TRAP will be open to anyone. Players that wish to purchase any will have to go through a verification process. I haven't fully worked out how it will work, but there will be an exchange.

 Please keep shooting ideas/holes related to the server my way. Like I said, I'm truly glad you're bringing this stuff up.

There is a server called buxville that utilizes an economy with dynamic prices. I don't think it is still up, but essentially, there were several towns throughout the map that each had a handful of items players could sell to. One town traded farmables, one traded ores, etc. Everything had a starting price, but prices were entirely dependent on how much other products were being sold to the server. For example, if someone sold 100,000 carrots, the price of carrots would drop a considerable amount, let's say from $3 to $1.8. In addition, the prices of everything else, from diamonds to potatoes, would increase proportionally. Diamonds might go from $45 to $45.5 and potatoes might go from $3 to $3.10.

The benefit to this is that it encourages diversity among players, and establishes niches. Through a normal server shop, prices are stagnant, and players will quickly realize which few products have the highest payout. Everyone will farm those specific items, as they are most profitable. This wouldn't be the case, since the more of a single item that is sold, the less that item is worth. When I played on there, I specialized in selling steak, leather, and wool. I also sold enchantment tables and obsidian from time to time. Other players worked as traditional farmers and miners, and some others grinded more niche items like prismarine.

In this situation, it would be a little different for two reasons: 1) A Drug server offers a single shade of economy: farming. That's just what the gameplay is. 2) The currency is finite.

Now, could such an economy work with this set up? I suppose it could. The way I would do it would be to make the price of each drug fixed to a variable percentage. What I mean by this is cactus, sugarcane, etc. will have a % attached to it, and will be bought by the server for that percent of the total wallet. These percentages could be dynamic with selling, so that the more each crop is sold, the lower the percentage of that crop, and higher of others. For example: let's say there are three drugs that can be sold to the server: sugarcane, carrots, and cactus. Sugarcane will have a value of .0005%, carrots will be .001%, and cactus .0025%. One player sells his sugarcane to the shop, and as a result, percentages change to .0004%, .00105%, and .00255%. (actual numbers could vary). Prices will fluctuate with server balance and in respect to most commonly sold commodities.

Of course, this is not something that could be done with chest shop. It would most likely have to be manually coded.

However, there is still a glaring problem with this formula. The nature of drug servers is that players earn more the more they play. As players move up the ladder, they unlock new perks, expand their operations, and earn significantly more than those at the start. Couple that with the fact that players are going to be looking to withdraw their earnings, and you are going to see a wallet that will be rapidly depleting, barring new players from the game and thus destroying the server. Here's why I think such an event would be reality:

At the start of the server, the wallet will be at its highest balance. Some early players may use exchanges to give them a boost, and everyone at the start will be competing to reach the top. Once they do start to get closer to the top, they are going to continue selling, but now also withdrawing. Not everyone will put in what they take out, which will mean the server wallet will continually decrease. Even when players purchase ranks and perks, it is highly likely that high ranking players will suck the wallet dry whenever it is refilled. New players will not be able to make any significant income without spending outside crypto, which most players will be unwilling or ignorant to do. As a result, it will be hard to get new players on board. Established players will see diminishing returns and the lack of players at the start means even less money going back into the server wallet. This would ultimately lead to a dying server.

Of course, this problem would be nullified by the dynamic economy listed above, but such an economy would not erase it completely.

I'm not trying to shit on this idea, because I've played on a few servers that operate on crypto economies and I absolutely love the concept. I just don't see a plausible outcome for a traditional drug server to be successful while operating on a real world economy.

Couldnt the whole "problem" be solved by using TRAP as a main currency.
Like dollar or gold.
With the main currency, you can trade all the other currencies.


Lets make an example where TRAP is like dollar.

The TRAP currency is connected to the exchanges and blockchain.
But internally in the server, all kinds of goods can be traded, with TRAP as the unifier.
So if price of potatoes skyrockets, it wont affect TRAP, just how many potatoes you get for 1 TRAP.

Much like BTC is for altcoins ... we trade all kinds of weirdnesswith BTC as a measure of value.

No, the problem is that the set up of a traditional server is a command economy. Most of the trade is between server to player. You COULD remove the server shop and make the economy entirely player to player, but the problem with that is it is fairly easy for every player to accumulate every item. There wouldn't be much demand for just about anything, and removing the server shop would also defeat the purpose of a drug server.

The problem lies in the fact that currency has a real world value on a drug server.
1030  Economy / Speculation / Re: There is an epic shakeout coming this year before the giga-spike. on: May 18, 2016, 03:21:25 AM
It's like the dot com bubble, it'll be a few years before we return to the heights we saw in 2013. And you can forget about a bubble too, that ain't happin'.....

The dotcom bubble consumed trillions of dollars and transfixed some of the biggest investors on the biggest markets of the entire planet.

Bitcoin's 'dotcom' took place on some crappy homemade exchanges in far off lands off the back of a few tens or hundreds of thousands of weirdos. It hasn't even gotten off the starting blocks yet.

Yes, it takes an influx of buyers, plenty of FOMO and market euphoria to induce that rapid escalating price movement. Taking the DotCom bubble as an example, Joe Public was piling into all manner of Internet Stocks convinced that the boom would never end and that all these on-paper companies were destined to be global behemoths. Similar with the housing boom / MBS debacle; Average Joe started flipping houses and traded their careers in to become property developers.

Bitcoin has had its baby bubbles. We've had innovators/techies/libertarians & relative early adopters/dark marketers. So next time, like the famous anecdote goes, if the taxi drivers / shoeshine boys ever start talking up bitcoin, its probably a sign the top is near. All that VC money will start producing products this year & next - maybe the timing will co-incide?


Behold ladies and gentlemen: wisdom.

What we need is a new buttcoin that can harness the euphoria of its userbase to propagate onto the outside world. If we can make everyone euphoric about butts then its obvious that bitscoin will hit the moon and after that it will keep chugging along to mars and maybe even pluto. If my calculations are correct Butts will be worth $10,000,000 each so anyone owning .1 or more will become an instant millionaire. Feel the rush!
1031  Economy / Trading Discussion / Re: Help me to understand the consequences of buying a $50 prepaid gift card at 60% on: May 18, 2016, 03:14:36 AM
Selling prepaid cards is a way to launder money and shift the blame onto the person you sell it to. It is highly likely that the prepaid cards were initially purchased with ill-gotten dollars, but by handing that off to you, you are now the bearer of the (perhaps) illegally obtained money. The sellers are willing to take a 40% cut because it means they can now safely use that money. As a general rule of thumb, you should always be cautious when purchasing gift cards at significantly discounted prices online. Not all are tied to illicit activity, but if you purchased from a frequent seller who appears to process a high volume of product, it is more than likely that there is some illegal input on their end that you are unknowingly becoming responsible for.
1032  Alternate cryptocurrencies / Announcements (Altcoins) / Re: ⋞ANN⋟⋞TRAP⋟ TRAPCOIN | Crypto Currency Backed By Minecraft Economy on: May 18, 2016, 03:09:20 AM
So there is a GARGANTUAN problem with a crypto economy on a drug server. The way that drug servers work is that people grow crops (drugs) that they sell back to spawn in order to rank up in the game. You said that the economy will be player to player, but a large, large majority of transactions will be the server selling Trapcoin (in game currency) to the players in exchange for these drugs. Where will this Trapcoin be coming from? If it is being generated at will, there will be a massive hyperinflation of the currency, because making money on a drug server becomes exponentially easier over time (the more time you put into the game, the more money you can earn and the more your profits are increasing).

Now, if the economy truly is player to player, and there is no server shop to buy/sell from, you run into the problem that players aren't going to exchange trapcoin with one another. Farming crops is insanely easy, nobody is going to purchase any drugs from one another when they can easily hoard them.

There are other issues with the set up (/fly on a pvp/anarchy server is insanely unbalanced) but the main problem is that I just don't see how you could make such an economy work. One way that COULD work would be for the server to have its own wallet, and every rank up or perk purchase sends all coins into that wallet. Server shop has fluid prices based off of the size of the wallet and prices will depreciate/appreciate as the server bankroll decreases/increases. However, people will be trying to hoard their crypto more than they will try to spend it, so it's a very real possibility that in such an economy, server shop prices would eventually depreciate to 0.

Let me end this by saying I, too, have been playing Minecraft for quite some times. I've been heavily involved in a multitude of servers, including playing an active role in one server from its inception, to its appreciation to the #1 most popular server (back in Beta 1.8 ) to its ultimate demise. I have also designed server economies. I love Minecraft, and what I love in particular is the economic aspect. I know exactly what does/doesn't work. If you need any advice or would like some help, feel free to let me know.

The problem isn't the method of exchange, the problem is the type of server that trapcoin is to be implemented on. As far as Minecraft servers go, an in game currency that represents some denomination of the crypto is an absolute must. Things happen fast in MC. It takes only a simple chat command to send any amount of money from one player to another.

The problem is that drug servers typically operate on command economies: players farm drugs and sell them to the server (which is typically an entity with infinite spending). Players accumulate money and then buy upgrades and rank ups from the server. This is fine for a server where the in game currency has no real life value. In this instance, however, it's hard for me to believe that OP could foster an environment that isn't unplayable or suicide for the crypto.

 I'm really thankful you're discussing this with me. It's about time someone gave some minecraft related input in this topic.

 The TrapCoin won't be coming from an infinite source. Not sure if you saw my post above, but I own approximately 13% of the TrapCoin in circulation. I'm using the chestshop plugin along with SQL economy bridge plugin. The chestshop plugin by default, has an infinite balance for admin shops. In the plugin config I have the server economy account setup. This makes it so the server doesn't just keep spitting out money when it doesn't exist. That along with the SQL economy bridge plugin, php jsonRPC and a php cronjob running at every 3 minutes, will keep the server balance updated to the actual balance of the TrapCoin wallet. So far that's all I've implemented for making sure that the funds in game are actually there. There's also a 50 million dollar player balance cap that I've set with essentials. This means the max amount of money a player will be able to withdraw at any time will be 5000 coins.

 Your idea of having dynamic drug prices based on the server balance is truly genius. I had actually never thought of doing something like that. The only thing is, the current chestshop plugin doesn't have SQL support so updating the prices in the shop would have to be done manually. :/ I'm gonna do some looking around and see what I can do.

 As for an exchange, I will be setting up a buy/sell category in the Trap Life forums. Selling TRAP will be open to anyone. Players that wish to purchase any will have to go through a verification process. I haven't fully worked out how it will work, but there will be an exchange.

 Please keep shooting ideas/holes related to the server my way. Like I said, I'm truly glad you're bringing this stuff up.

There is a server called buxville that utilizes an economy with dynamic prices. I don't think it is still up, but essentially, there were several towns throughout the map that each had a handful of items players could sell to. One town traded farmables, one traded ores, etc. Everything had a starting price, but prices were entirely dependent on how much other products were being sold to the server. For example, if someone sold 100,000 carrots, the price of carrots would drop a considerable amount, let's say from $3 to $1.8. In addition, the prices of everything else, from diamonds to potatoes, would increase proportionally. Diamonds might go from $45 to $45.5 and potatoes might go from $3 to $3.10.

The benefit to this is that it encourages diversity among players, and establishes niches. Through a normal server shop, prices are stagnant, and players will quickly realize which few products have the highest payout. Everyone will farm those specific items, as they are most profitable. This wouldn't be the case, since the more of a single item that is sold, the less that item is worth. When I played on there, I specialized in selling steak, leather, and wool. I also sold enchantment tables and obsidian from time to time. Other players worked as traditional farmers and miners, and some others grinded more niche items like prismarine.

In this situation, it would be a little different for two reasons: 1) A Drug server offers a single shade of economy: farming. That's just what the gameplay is. 2) The currency is finite.

Now, could such an economy work with this set up? I suppose it could. The way I would do it would be to make the price of each drug fixed to a variable percentage. What I mean by this is cactus, sugarcane, etc. will have a % attached to it, and will be bought by the server for that percent of the total wallet. These percentages could be dynamic with selling, so that the more each crop is sold, the lower the percentage of that crop, and higher of others. For example: let's say there are three drugs that can be sold to the server: sugarcane, carrots, and cactus. Sugarcane will have a value of .0005%, carrots will be .001%, and cactus .0025%. One player sells his sugarcane to the shop, and as a result, percentages change to .0004%, .00105%, and .00255%. (actual numbers could vary). Prices will fluctuate with server balance and in respect to most commonly sold commodities.

Of course, this is not something that could be done with chest shop. It would most likely have to be manually coded.

However, there is still a glaring problem with this formula. The nature of drug servers is that players earn more the more they play. As players move up the ladder, they unlock new perks, expand their operations, and earn significantly more than those at the start. Couple that with the fact that players are going to be looking to withdraw their earnings, and you are going to see a wallet that will be rapidly depleting, barring new players from the game and thus destroying the server. Here's why I think such an event would be reality:

At the start of the server, the wallet will be at its highest balance. Some early players may use exchanges to give them a boost, and everyone at the start will be competing to reach the top. Once they do start to get closer to the top, they are going to continue selling, but now also withdrawing. Not everyone will put in what they take out, which will mean the server wallet will continually decrease. Even when players purchase ranks and perks, it is highly likely that high ranking players will suck the wallet dry whenever it is refilled. New players will not be able to make any significant income without spending outside crypto, which most players will be unwilling or ignorant to do. As a result, it will be hard to get new players on board. Established players will see diminishing returns and the lack of players at the start means even less money going back into the server wallet. This would ultimately lead to a dying server.

Of course, this problem would be nullified by the dynamic economy listed above, but such an economy would not erase it completely.

I'm not trying to shit on this idea, because I've played on a few servers that operate on crypto economies and I absolutely love the concept. I just don't see a plausible outcome for a traditional drug server to be successful while operating on a real world economy.
1033  Alternate cryptocurrencies / Announcements (Altcoins) / Re: ★★★ GameCredits - The future of in-game monetization ★★★ on: May 18, 2016, 02:45:32 AM
Anything new and exciting with this coin the past few weeks? Still holding onto a sizeable chunk of GMC, but haven't been keeping up on it too closely. Definitely stoked for when a fully functioning game is fully released that uses a GMC economy. That is going to be awesome!

You should be watching the Weekly Google Hangouts starting here:

https://www.youtube.com/watch?v=ujPWXTyF9V8

You should also be signed up for the weekly newsletter here:

http://gamecredits.net/newsletter/subscribe/


There is a lot going on. Much more than most of the 99% of the masses on Bitcointalk could comprehend. Mainly because we have actual use cases in development for real world use of GAME by millions of gamers - just to start off. So while ETH and DAO and other alts try to change the world with theoreticals several times too complicated for people with even above average intelligence to try and comprehend, GAME has a simple, straight forward solution to real world gaming problems that millions are going to have access to in the coming months.

By the way, there are no new games planned to be released that use the GAME economy. There are however hundreds of games that already exist and have millions of users that are going to be adding the GAME economy to their interface. This is immensely more powerful.

Thanks for the information man, I appreciate it! Just signed up for the newsletter. I completely agree that something like Game Credits will have a great impact by improving something practical rather than ETH or whatever else trying to form super complicated niches that don't pertain to the public. I'm absolutely bullish on cryptocurrency's prevalence in video game economies, and right now, GameCredits seems to be the most promising solution.

What notable games are planning on including GAME to their economy? Or is that just in theory?
1034  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Steemit.com: Blogging is the new Mining on: May 18, 2016, 02:13:50 AM
I'm trying to create an account on steemit and seem to be unable to do so. Initially, I tried signing up through reddit, and it returned error: verified facebook account required. I then went back and signed up through my facebook account, and got the same error message. I assume this is something on your guys' end, but please let me know if there is a workaround so I can make an account, because I love the concept behind this project.
Yes, this was a bug on our end. It's fixed already, please try to create an account again, this is the link https://steemit.com/create_account
Don't hesitate to send me PM if something doesn't work.

Cool. Just got an account set up and made. How exactly do I navigate the site? Having trouble finding some more niche or regular bloggers to follow or whatnot. The frontpage is nice but would like some genuine blogging/conversation.

Good question. Maybe a page showing various leaderboards such as most upvoted posters, categories, etc. or something would be interesting. For now you just have to find them by finding an interesting post and then clicking on the poster's name.


I think that would be a really cool addition.

Last question: How do withdrawals work? Is that what the 'power down' option is for? I tried messing around with it and it returned an error. I don't plan on withdrawing but it's hard to trust the legitimacy of the operation without a viable way to withdraw my steem.

"Power down" converts your Steem Power to liquid Steem. It takes place over 104 weekly payments. However, if you got free Steem Power, you can't withdraw that until you reach 10x.

Withdraws work like any other web wallet, but you can only withdraw liquid Steam or Steem Sollars (the latter doesn't exist yet but will  be paid out starting July 4), not Steem Power. You could send it to your own wallet, an exchange, etc.

You can theoretically use use your password/private keys from the web site to do all this stuff via the CLI wallet and bypass the web site (you can even make blog posts from the CLI wallet, though it is somewhat painful; voting isn't too bad). I guess at some point there may be a GUI wallet, other web wallets, etc. 



When you say '104 weekly payments' does that mean your Steem Power will take two years to fully withdraw? I have a hard time believing there is any practical reason to lock up earnings for such an insane amount of time...

There are actually many reasons for it, which you can read in the white paper. The system has a lot of complex interlocking pieces.

But in reality earnings will not be locked up, because Steem Dollars are fully liquid, so that is the immediate earnings. The portion of rewards that goes toward increasing your Steem Power could also be viewed as karma or activity points or premium account status or whatever you want to call it, with the added option to liquidate that slowly if you plan to exit the system or just don't value your status that much.

Okay, that makes more sense.

Will Steem Dollar earnings be withdrawn as Steem? And if so, does that mean there is no difference between Steem Power and Steem Dollars once they are liquidated and removed from the site?

Steem Dollars will be able to be converted to Steem (there is a built in market on the blockchain, there are plans for the web site to support that as well), but they will also be able to be withdrawn directly as Steem Dollars, sending them to another crypto exchange, a merchant to pay for goods/services, to your own wallet, etc.

I'm not sure I understood your last question, but I think the answer is there is no difference.

Thanks for the speedy customer support! I think it's understandable why I am wary about legitimacy, but overall I love the concept behind Steemit and regardless of profits I think this is a good idea for a social media site in general. I've written up a couple of posts on the site and plan to continue on in the future. A blogging alternative to Tumblr is badly needed, and one in the crypto niche is a huge + in my book.
1035  Alternate cryptocurrencies / Altcoin Discussion / Re: Ether on way to over 1Billion market cap again on: May 18, 2016, 02:08:43 AM
There is no way this will be sustained for more than a few days. Tons of Promising ICOs are taking place soon. LISK in a week of course, WAVES a little further down the road. A lot of the Ether traders who are just going for the profit margins are going to at least diversify into some of these new, similar coins.
ETH traders don't need to diversify their portfolios. Ethereum is everything. We don't need shitcoinage diluting their investments.

Are you saying that ETH isn't a shitcoin itself? The general consensus outside of the ETH circlejerk is that any crypto that isn't Bitcoin is essentially a shitcoin. Bitcoin is the only cryptocurrency out there with the power to complete a myriad of objectives.
1036  Bitcoin / Bitcoin Discussion / Re: What's stopping people from using bitcoin? on: May 18, 2016, 02:07:02 AM
The only correct answer is that the thing stopping people from using Bitcoin is the reputation of the community as a batshit-crazy cult following. The Bitcoin community is regarded as one of the least respected communities on the internet. A lot of this has to do with the extremist roots that early adopters come from, and a lot of it has to do with all the people who came here expecting to realize their wildest riches. We are slowly overcoming this now obsolete label, but it will take an extended period of time until Bitcoin has a favorable or even neutral opinion from a wider audience.
1037  Alternate cryptocurrencies / Altcoin Discussion / Re: What Happened to Augur? on: May 18, 2016, 02:04:37 AM
Correct, you cannot yet bet on the Ethereum network with real currency. The test net is just like the live net - same code and everything, just no one mines on it and its currency is worthless... you can bet there to play around with the mechanics of it and that is where they are putting it through its paces to work out any bugs.

Aweomse, thank you! Is there any specific ETA for when we will see Augur roll out live? Or is 'sometime later this year' all that anyone knows at this point in time?
1038  Alternate cryptocurrencies / Announcements (Altcoins) / Re: ★★★ GameCredits - The future of in-game monetization ★★★ on: May 18, 2016, 01:58:20 AM
Anything new and exciting with this coin the past few weeks? Still holding onto a sizeable chunk of GMC, but haven't been keeping up on it too closely. Definitely stoked for when a fully functioning game is fully released that uses a GMC economy. That is going to be awesome!
1039  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Human minable coin on: May 18, 2016, 01:55:44 AM
Human mining is an interesting concept. Where are wallet/miner/exchange/etc. etc. links? There isn't anything in the OP outside of coin specifications? Hard to get on board with so little organization or pazazz.

All here: facilecoin.org

Thank you!!

I can't seem to find any link to an exchange. Does this mean facilecoin is not yet being traded?

From dev


Yobit & c-cex is best choice if you want this coin to actually trade. the smaller exchanges under Yob get hardly any sells/buys.

I already sent paid request to yobit. I am checking now ccex.

So i feel strange they don't add today, is almost a week

That is strange, yobit is normally pretty quick with getting coins put up on the exchanges, especially since the dev put in a paid request. That's not necessarily a bad thing, the more time to mine before new exposure from exchange listings, the better.
1040  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Steemit.com: Blogging is the new Mining on: May 18, 2016, 01:53:34 AM
I'm trying to create an account on steemit and seem to be unable to do so. Initially, I tried signing up through reddit, and it returned error: verified facebook account required. I then went back and signed up through my facebook account, and got the same error message. I assume this is something on your guys' end, but please let me know if there is a workaround so I can make an account, because I love the concept behind this project.
Yes, this was a bug on our end. It's fixed already, please try to create an account again, this is the link https://steemit.com/create_account
Don't hesitate to send me PM if something doesn't work.

Cool. Just got an account set up and made. How exactly do I navigate the site? Having trouble finding some more niche or regular bloggers to follow or whatnot. The frontpage is nice but would like some genuine blogging/conversation.

Good question. Maybe a page showing various leaderboards such as most upvoted posters, categories, etc. or something would be interesting. For now you just have to find them by finding an interesting post and then clicking on the poster's name.


I think that would be a really cool addition.

Last question: How do withdrawals work? Is that what the 'power down' option is for? I tried messing around with it and it returned an error. I don't plan on withdrawing but it's hard to trust the legitimacy of the operation without a viable way to withdraw my steem.

"Power down" converts your Steem Power to liquid Steem. It takes place over 104 weekly payments. However, if you got free Steem Power, you can't withdraw that until you reach 10x.

Withdraws work like any other web wallet, but you can only withdraw liquid Steam or Steem Sollars (the latter doesn't exist yet but will  be paid out starting July 4), not Steem Power. You could send it to your own wallet, an exchange, etc.

You can theoretically use use your password/private keys from the web site to do all this stuff via the CLI wallet and bypass the web site (you can even make blog posts from the CLI wallet, though it is somewhat painful; voting isn't too bad). I guess at some point there may be a GUI wallet, other web wallets, etc. 



When you say '104 weekly payments' does that mean your Steem Power will take two years to fully withdraw? I have a hard time believing there is any practical reason to lock up earnings for such an insane amount of time...

There are actually many reasons for it, which you can read in the white paper. The system has a lot of complex interlocking pieces.

But in reality earnings will not be locked up, because Steem Dollars are fully liquid, so that is the immediate earnings. The portion of rewards that goes toward increasing your Steem Power could also be viewed as karma or activity points or premium account status or whatever you want to call it, with the added option to liquidate that slowly if you plan to exit the system or just don't value your status that much.

Okay, that makes more sense.

Will Steem Dollar earnings be withdrawn as Steem? And if so, does that mean there is no difference between Steem Power and Steem Dollars once they are liquidated and removed from the site?
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