+1000

Interesting article on the various algos just came out:

http://www.cryptoarticles.com/crypto-news/2014/4/3/what-will-be-the-next-hot-mining-algorithm-for-gpus

They don't see Scrypt-Jane as a long term contender though because of the decreasing profitability.

Another good point Sunny1! This withdraw anytime thing is a new gimmick in the HYIP industry that started late last year.

Here is an example of the ramifications of this. I was involved in another BTC Arbitrage HYIP called Bitcoinrain (AKA Mercado Bitcoin) from 2012-2013. Everything was going great, then one day the admin claimed the web site was hacked. Thousands of BTC were lost.

As it turns out, the "hack" mysteriously happened after one member tried to withdraw 1,200 BTC. Everything is documented here:

http://bitcoinscammers.com/mercadobitcoin-com-br/

So I personally don't consider a no lock in period a good thing at all - quite the opposite actually.

There aren't any yet, but that's not to say it can't be done. I thought I remember reading somewhere that ASICs for Scrypt-Jane are more feasible than for X11. Also, X11 supposedly runs a lot cooler.

I'm not an expert on these algorithms at all - I'd just like to see Numus use whichever algo that will make the greatest number of people adopt Numus. If they feel that is Scrypt-Jane then I trust their decision.

Again, you are forgetting that NXT is friggin 5 months old! Where the hell was Bitcoin at 5 months? Or for a more recent example, Ripple?! Ripple was barely usable at 5 months old.

As far as affordability goes, last I checked NXT is trading for around 3 cents. Do you think that is overpriced?

Everyone has a chance to get in now at these extremely undervalued prices. If you don't, you can't blame anyone but yourself when you're butthurt a year from now.

Not at all, I couldn't care less if you sign up to Bitcoin Trader or not. Like I said, I've been involved in these things for a long time and I know what to look for so I am just pointed out the facts. If someone found my info useful and would like to join up under me then great. If not, no skin off my back.

Just don't post that BTC Arbs looks more legitimate than Bitcoin Trader because that is certainly untrue.

Distribution looks pretty damn good to me... a hell of a lot better than Bitcoin was when it was 5 months old!

Have to strongly disagree with you on this one - I've played traditional HYIPs (aka ponzis) for years and btc-arbs definitely has a much higher chance of being a straight up ponzi than Bitcoin Trader. Why?

1) Bitcoin Trader started off as invite only and to this day they do not advertise on any of the HYIP-related forums. Btc Arbs on the other hand advertises on the biggest HYIP blog of them all - MNO:

http://money-news-online.com/blog/2014/02/18/18022014-btcarbs-review-daily-news-hyip-industry/

You will notice even the reviewer on MNO says not to listen to the statements about doing BTC arbitrage as it is commonplace in the HYIP industry to pretend to conduct some real business activity (forex trading is often used).

A true HYIP/Ponzi requires constant money coming in - Btc Arbs is clearly more reliant on new funds coming in than Bitcoin Trader.

In fact, there has been talk that Bitcoin Trader will eventually have to stop new deposits (as arbitrage trading has limitations as to how much money you can realistically move around).

2) Bitcoin Trader has posted losing (i.e. negative return) days. I don't believe Btc Arbs has ever posted a losing day.

3) Mining. The fact that Bitcoin Trader is also involved in mining adds to their legitimacy and provides a safety net of sorts as they have other sources of income (i.e. not only reliant on new money coming in).

4) Fiat conversion. Another safety net for Bitcoin Trader. You make a deposit and it is calculated in USD. Your returns are in USD. This provides stability. Btc Arbs is only dealing in BTC, so they are susceptible to the wild price fluctuations of BTC. For example, say you deposited a large amount of BTC a few weeks back. If they convert it now to supply fiat to their trading activities, they would be getting a considerable amount less would they not?

5) The owner of Bitcoin Trader does not hide his identity and if you have a 20k or greater deposit you can actually meet with him in person and discuss other opportunities with him. The odds are high that he is a legitimate Bitcoin entrepreneur, while nothing is known at all about BTC Arbs' owner.

I spent a good deal of time researching both of these programs and I ended up going with Bitcoin Trader only. I check this thread periodically to see if any new info has surfaced that increases the chances of Btc Arbs being legit as I would love to diversify and put some money with them as well. As of now, I don't feel confident in doing so.

Hope this helps anyone who is considering these two programs. If anyone does decide to join Bitcoin Trader, please use my referral link:

https://bitcoin-trader.biz/

The ultimate solution would be to do something like Huntercoin and allow for multiple algorithms! Then we'd have IPO, POS, POW with X11 AND Scrypt-Jane, plus of course a built-in decentralized marketplace... who in the heck WOULDN'T be using Numus then?!

Really excited about this!

Numus, is it possible to consider changing the algorithm? Edgecoin recently decided to change their algorithm to X11 - that seems to be the one that everyone wants now (more than Scrypt-Jane).

Numus - the link to the whitepaper on the web site doesn't work.

I am very interested and I have to say I also feel that the built-in lottery should take a backseat to the decentralized exchange.

I've said it before in the EXO thread and I'll say it again here - the first crypto to successfully launch a built-in, anonymous, decentralized exchange is going to absolutely explode as it will eliminate the need for centralized, TOR-based web sites such as SR was. If Numus can pull this off, it will spawn a thousand SRs and its popularity will skyrocket.

I assume that since Numus will contain cloud storage, the exchange will allow for the asset creator to post some descriptive text and images regarding their asset? Please confirm.

Thanks and looking forward to following the progress!

The walls will go away eventually guys - this is a great opportunity to buy while the price is so low. I know I am 

The only thing that smells fishy here is you, as you either a) created an account on Bitcointalk for the first time ever or b) created a sock puppet account for the sole purpose of spreading FUD in this thread. Let's look at what you are trying to convey in your post:

1) this smells fishy
2) this is a ponzi scheme
3) this is a gamble
4) we should think about the ethics of the whole thing

No problem, I've thought about it and I've determined that you obviously have some sort of ulterior motive for posting here so my recommendation to everyone is to put you on ignore.

BREAKING NEWS - the Cryptorush losses had nothing to do with the Zeitcoin daemon as they claimed. It is an EXACT replay of Gox - they are insolvent and are now caught in a massive lie:

http://www.cryptocoinsnews.com/2014/03/26/cryptorush-support-worker-leaks-inside-info/

eXo_coin, regarding these statements from the whitepaper:


Will the decentralized marketplace exist only for exchanging BTC <-> EXO or will it eventually allow for the creation of any "asset" like what NXT is working on?

In my opinion, whichever next gen crypto platform that successfully integrates a built-in decentralized exchange for ANY asset will be the one to basically spawn the next generation of Silk Roads and will see huge public adoption (think BTC in June, 2011).

All that is needed is the ability to create the asset in the exchange, and then internally host some sort of descriptive page that would contain simple text and images.

Steve, just like with POW mining, there is a bit of luck involved with POS. So one person may open up their wallet and receive a stake almost instantly, while someone else may have to wait days or weeks.

I remember waiting many days to receive a stake from Peercoin, but with CACHecoin I received a stake after only a few hours.

A nice chunk of that activity was me - I've been buying all night   

I'm a holder of FAC and I just started using Mintpal for the first time tonight. I have to say, MintPal is definitely not to blame here!

It's because of all the IPO scams that have happened over the last couple of months, but as you pointed out, if they are using a trusted escrow then that shouldn't be a concern.

Well you've certainly shown that you can write, now you just need to learn how to read: