Bitcoin Forum
April 24, 2024, 12:15:34 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 [43] 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 »
841  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 09:45:50 PM
apart from the risk of Bter collapsing, is their any risk of Crypti funds?? will they compensate Nxt holders using other crypto on site?

I doubt if they held the 750 BTC escrow funds in a separate wallet.  Not likely as BTC are fungible.
842  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 09:43:00 PM
We are working on a solution to secure out BTC with BTER. BTER did not want to break the terms of the escrow they signed with users and we are working on a solution.

We also have all of the data from BTER in regards to who holds how much XCR. If for some reason they do collapse, we would come up with a solution to distribute ourselves.

All of this should be avoided however as I believe we are on good terms and have a good understanding right now with BTER. At this point, they need to launch Crypti to help build back up their reputation and show they aren't going anywhere.

Having said all of that, I won't blame anyone who pulls out of BTER the second the withdraw button goes live.

You have a list of XCR holders?  What is the key for listing each owner, as we dont have XCR wallets yet.  Does it list by Bter account number?  If that is the case, every one needs to copy down their account number.  If Bter goes dark, that may be lost.

We are trying to figure out if there is a way we could use the BTER data (which yes, it is account number based) to distribute ourselves in the case of BTER collapsing just to be safe. We don't have an exact solution yet as the hard part is determining how to associated a BTER account with an actual person. BTER can't give us email addresses as that would be a privacy issue (which we haven't asked), so we are open to any ideas.

Hopefully it will never get to that point, but we would rather be prepared in the case that it does. BTER has already stated they don't have the funds to cover the loss themselves.

Do you have any other info from Bter on the account holders, such as BTC account money was sent from?
843  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 09:41:22 PM
Looking at Bter, they have suspended trading on half the coins.  The left hand window shows 0.00% change in price for them.

Also Qora seems to be rising.  Must be the NXT sellers moving there.
844  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 09:36:16 PM
We are working on a solution to secure out BTC with BTER. BTER did not want to break the terms of the escrow they signed with users and we are working on a solution.

We also have all of the data from BTER in regards to who holds how much XCR. If for some reason they do collapse, we would come up with a solution to distribute ourselves.

All of this should be avoided however as I believe we are on good terms and have a good understanding right now with BTER. At this point, they need to launch Crypti to help build back up their reputation and show they aren't going anywhere.

Having said all of that, I won't blame anyone who pulls out of BTER the second the withdraw button goes live.

You have a list of XCR holders?  What is the key for listing each owner, as we dont have XCR wallets yet.  Does it list by Bter account number?  If that is the case, every one needs to copy down their account number.  If Bter goes dark, that may be lost.
845  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 08:22:59 PM
Look at the situation if you were the hacker.  You would have NXT that you cannot spend.  To deposit any of it in other exchanges would expose your identity.  The other exchange would then embargo the account and notify Bter.  The blockchain will also expose any transfer of the NXT.

Any purchase made with the stolen NXT would be traceable to the hacker as well.

He is stuck.  He can only stall for time and hope Bter pays.

Frankly, I dont think the hacker should be rewarded for his crime.  They should reset the blockchain and then offer a reward for his head, or fingers.
846  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 07:18:49 PM

But THEY DON'T HAVE A WEEK.  Tongue



I am confident they will get their money back from the "hacker".

Having lived in Asia for several years and another experience with the chinese in San Fran (see Norman Hsu on Wiki, pay special attention to Raymond Kwok Chow), I am intimately familiar with their methods of collection.  

847  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 07:04:07 PM
Why cant CRYPTI devs just demand the escrow from BTER and be done with them? Everyone in the community would vote in favor of that.

Not true. I would vote against it. Devs don't get the BTC until they've delivered a product. That was the deal. Enough deals have changed since the original announcement.

You trust BTER more than CRYPTI devs at this point in time?  Huh

In this situation you have to trust someone. You either trust Bter not to run off with the BTC, or you trust the Crypti devs not to run off with the BTC. Those are the only options. In this case, my opinion is for the devs to keep their word on one thing. Something that haven't been very good at so far.

We only need Bter to stay in business for a week.  That will give us all time to get our personal wallets and withdraw our XCR, and for the devs to get their 750BTC, minus the escrow fee of 1%.

After that.... who cares.
848  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 06:14:43 PM
Without getting all dramatic.

Bter is done for - they will not get the 45 million NXT back and they have already said they cannot cover these losses.

So, I'm very concerned about the XCR launch now.

Devs need to take control of the 750 BTC under BTERs control NOW/ASAP. The amount of negligence shown by BTER is staggering - full details will scare people on here who don't seem to grasp the severity of the situation. The exchange is going under IMO. This will all happen fast and who knows if there will then be time to wrestle the 750btc from their dead hands.

We need a plan from the devs regarding this - they must have planned for such a situation. Well, now it has HAPPENED. If the 750 btc is gone what then? If it's not gone yet, get them away from Bter as soon as humanly possible.

Bter suffered a loss of 45 million NXT and 112 BTC + had another 500,000nxt that did not exist traded today because of further incompetence. They have already stated that the NXT losses alone would make them unable to pay out.



Why cant CRYPTI devs just demand the escrow from BTER and be done with them? Everyone in the community would vote in favor of that.

However this may encourage them running as they were banking on CRYPTI volume support.

Best option hold off till the 18th like they stated then take further action if necessary.

If the devs just pull out from Bter, demanding the BTC and the genesis block, they would not have the current list of XCR owners.

The devs could then only refund the BTC to the pre-sale investors, as they would have the BTC addresses.  This would likely double pay some who sold XCR and ran.

It would not be practical to fund the investors with XCR, as many have sold their XCR and withdrawn the BTC from Bter.  

The devs can only sit and wait......... just like us.
849  Alternate cryptocurrencies / Altcoin Discussion / Re: Beyond Nxt on: August 16, 2014, 05:49:27 PM
You should take a look at BitsharesX, CRYPTI and NEM .. All successors to NXT.

I like the look of NEM. Most of it is a promise now, so we have to see if it actually delivers.

Haven't heard of CRYPTI.

CRYPTI, also known as XCR is available on Bter, right above NXT on your balance page.  Links are in the INFO tab
850  Alternate cryptocurrencies / Altcoin Discussion / Re: Beyond Nxt on: August 16, 2014, 05:48:02 PM
CRYPTI is the new and better NXT.  Best to buy it now on Bter while your money is still there. 
851  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 05:00:21 PM


Litoshi, have you studied complexity theory, like chaos and fractal market theory? Taleb, Mandelbrot, and Edgar Peters have written some good books on the subject. Your outlook is very similar to my own.

Not in a formal way, like going to Stanford.  

Twenty some years ago I realized that by watching TV, I was allowing others to do my thinking for me.  I got rid of the damn thing and spent more time on the net.   Surprising how one article of interest can link to others and still others that can occupy my free time for weeks, but coming away with increased knowledge and insight and a lot to ponder.

That of course leads to more research, more links and leads, and some drift into other areas.  



852  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 04:10:02 PM
NXT holders trolling XCR and BTSX threads now... this is hilarious.

Bye bye NXT. Game over. Grin

As soon as the XCR wallet is released, the price of XCR will be 4-5000 sats. 

So just hang in there.  Buy more, sit, wait, and enjoy.
853  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 04:06:44 PM



Calm down.  XCR will be over 6000 satoshi soon.  NXT is similar to XCR, but has 10 times the coins, and is at 6000 sats.  XCR could reach 60000 sats to be par with NXT.

If you invested non-essential funds in XCR, then you have nothing to lose by waiting, and everything to gain.  If yo invested money that you need for bills, then you are violating one of the rules of successful investing:  Never invest funds that you cannot afford to lose.

Sit back and enjoy the ride.


There will be a severe financial crisis soon, resulting in the death of many Currencies, including the Euro.  If the infrastructure for mobile money transfer with XCR is on place when that happens, then XCR will see the same kind of overnight explosion that AOL saw after Xmas 1997 when 5 million people got cheap ($800) computers for Xmas with a AOL CD Rom.



Hi.. I've been a silent yet avid reader of each post in this forum from the time IPO was in progress and fortunately managed to invest in IPO too. Needless to say there have been very interesting discussions going on here.

Litoshi, I can see you used 'soon' word in two of your recent posts which made me wonder which do you think would be sooner and any approximate timeline for that ?


The hardest part of any prediction is timing.  There are too many factors and players and agendas in the game to know the exact timing.

History does not repeat, but it does rhyme.  American Revolution, War of 1812, American Civil war, Spanish/American war of 1898, WWI, WW2 all started the same way:

First there was a currency war, then a trade war, then a shooting war.  All the above conflicts were started and ended by the banksters.  The next war is no different.  There has been a currency war going on since 2008.  Now you can see the trade war starting with Russia/EU/Ukraine/USA.  Next is the shooting war.  

American revolution started when England refused to let the American Colonies use their own bank and currency.  War ended with a treaty establishing the First bank of the United States (owned by the bankers in the City of London) with a 30 year charter.

War of 1812 started when the charter expired and was not renewed.  War ended with treaty establishing the Second Bank of the US in 1814, 30 year charter.

1834, bank charter ended, President Andrew Jackson refused to grant an extension of the charter, was nearly assassinated.

1860, US Civil war started over tariffs imposed by northern states on the cotton from the south, but northern goods were not subject to tariffs.  Banks demanded 30% interest from Pres Lincoln to fund the war.  Lincoln issued his own currency, and was rewarded with a bullet in the head.

854  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 03:15:04 PM
The key as Litoshi says is simplicity. Right now, the average person doesn't understand the concept of crypto-currencies. They understand they login to their bank, they get checks and a debit card, they have their check sent to their bank, and then they use their debit card.

We simply need to develop the infrastructure, ease of use, and incentive to change.
 

There will be a severe financial crisis soon, resulting in the death of many Currencies, including the Euro.  If the infrastructure for mobile money transfer with XCR is on place when that happens, then XCR will see the same kind of overnight explosion that AOL saw after Xmas 1997 when 5 million people got cheap ($800) computers for Xmas with a AOL CD Rom.  

When all hell breaks loose, people flock to safety.  Have the sanctuary ready, and they will come.  

And oh yeah.... there is that little factor of PRICE & DEMAND.   50 XCR for a new BMW?
855  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 02:07:30 PM

In the meantime btc's still falling, time to get into the 2nd gen crypto train peeps  Smiley



Cybercurrency will play an even more important role in the future.  BTC broke the barriers, but just like MySpace, Lycos, and tape players, something better, faster, and cheaper always comes along and edges the old out.  XCR has a great chance at being the one that bumps BTC off the top.


Litoshi,

I always appreciate your insight, but do you really believe BTC will eventually be surpassed by another altcoin/platform?

Yes, BTC will eventually be pushed into the shadows.  It happens to all the barrier breakers in any field, not just the net.  Look what happened to the video rental stores: replaced with NetFlix.  Bookstores have been replaced by Cosco and eBooks.  

BTC has serious flaws and is without any additional feature implementation.  New coins have been developed that offer solutions to these flaws, and implement features that make cybercash user friendly.  Cybercash use will not catch on to the general public until it is idiot proof.

If you were on the net in the late 80s or very early 90s, you would remember how difficult it was to get online.  You had to configure a modem, with dip switch settings, and write a script for your dial-up modem.  Then you needed to load Netscape 1 or Mozilla from a floppy disk.  You had to run Archie for a search engine.  For the UseNet you needed a program to divide and combine posts into 15000 lines max.  Complicated enough to keep anyone not a geek away.  

But once computers dropped to below $800 in price, and Grandma could get on the net by loading an AOL CD Rom, everything changed.  

Simplicity of use results in rapid adoption.


The same is true of cybercash.  BTC is too complex for simple transactions.  It still serves as the benchmark, as all altcoin values are set in satoshis.  But the vast non-geek public will not see cybercash as a useable system until it is as simple to use as a credit card swipe at Walmart.  

The main market for cybercash will be the 80% of the world population that is unbanked.  High fees are charged by Forex dealers to send funds from the US to Mexico and Philippines (10-20%), which are then hand delivered to the receiver by couriers.  Most of these people have a smartphone.

Mobile Apps to transfer XCR and BTC to smartphones will break the back of the Forex dealers.  This is a 2 billion dollar a month market.  Imagine the transaction fees earned by a POS coin like XCR at that level!!.  


In the mid 90s, I told many people that the phone, computer and TV were going to merge into one appliance.  I was laughed at.  Then the cable companies started offering internet connections.  Later, video came to computers.  Now we have smartphones.  The future is here.

856  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 01:37:58 PM
Great, coin dead at launch. :/

Words of encouragement from another newby that did not get in on the pre-sale.  

857  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 01:34:47 PM
@DEV, I want to withdraw Crypti from Bter to local wallet, is there a way???

 XCR didt launched . the plan had changed because of BTER. dev said that they will launch it on Sunday.

Many guys suggest DEV don't use Bter as escrow at the very beginning, but they don't take our suggestion.

If the devs had only used maxmint for escrow, there would not have been any early trading.  Also, maxmint is not an exchange, so the devs would have had to find an exchange to host XCR.  

If everything had gone that way, this blog would be full of complaints of investors wanting their BTC back from maxmint.  We would still have had the delay in the launch due to the same problem with the POS.  And the devs would still be searching for an exchange to host XCR>

Bter served both as an escrow service and an exchange.  They provided an essential service and were well paid for it.  
858  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 01:29:12 PM
will bter die? what do u think guys?

BTER is a well established exchange with a good international reputation. It should survive because the hacker apparently did not use TOR to disguise his IP address. If this surprising newflash proves correct, he should be picked up fairly quickly and forced to return the NXT. End of controversy. The hacker is just a kid who is (following the heist and subsequent blackmail) very seriously out of his depth. If located in any countries who subscribe to the European Arrest Warrant Scheme (that is, most countries including Ukraine but not Russia) he will be lifted and extradited by Interpol. If US based, heaven knows what they will do to him. Put him on death row probably. At very least, they will be keen to take pictures of his johnson.

I'm betting it was an inside job and they sent over the tong gangsters to break his fingers.  
859  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 12:21:53 PM
Devs.

I know this is a hard question but it needs to be asked.

If bter are insolvent and cannot provide you the ipo funds. What happens to XCR?

They have already stated the opposite. Bter has the BTC funds untouched.


The devs still have all the XCR, and 15million for themselves.  They can still fund further development of XCR, only at a much slower rate.
860  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | XCR | Launch August | 100% POS | New Source | Trading has begun! on: August 16, 2014, 12:17:48 PM


He so obviously wants to buy Crypti but wants to lower the price before he buys. Transparent. You are going to need to be a bit more sophisticated than that to lower the Crypti price. Like a freshman fumbling with a brassiere strap. Your main problem in this regard is that vanishingly few existing investors are functionally brain dead. Crypti is where the smart money is (for the moment in any event).

The price already collapsed from 2500 to 1500. I am not saying that it won't go back to 2500 but it will be extremelly hard to go any higher, since many people are waiting for opportuinty to just sell because of recent failed launches and BTER issues. I was thinking about this coin and about xcloud - picked this one and I guess I made a mistake. No point to invest in xcloud at this point but really looking to get out of this one without too much loss.

I was stupid enough to buy at 2400. Wink

Sorry to be the party pooper, but didn't expect this to go that horribly wrong. Anyway, maybe I will get surprised nicely.
[/i][/quote][/i][/size]

Calm down.  XCR will be over 6000 satoshi soon.  NXT is similar to XCR, but has 10 times the coins, and is at 6000 sats.  XCR could reach 60000 sats to be par with NXT.

If you invested non-essential funds in XCR, then you have nothing to lose by waiting, and everything to gain.  If yo invested money that you need for bills, then you are violating one of the rules of successful investing:  Never invest funds that you cannot afford to lose.

Sit back and enjoy the ride.
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 [43] 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!