Haven't followed, but mildly interested.  How did this IPO go? It looked like a terrible idea to me.   So I see MCXNOW is back.  Are investors expecting to make back their investments? Genuinely curious.

To me IMHO it seems like an incredible amount of money easily invested in something with such little security.

I've lost many to scam operators (WeExchange / Bit Funder) and now I can lose money to the operator before the exchange even goes live? Wow that's fantastic.

These IPOs sure are popping up all over hte place and wow, do people ever throw a lot of bitcoin at them.

This guy is trying to make a profitable exchange that will make him a lot of money and he wants you to pay him to develop it () and host it.

It doesn't cost that much to start in exchange in terms of money (if you are a developer). You don't need that much hardware either. I doubt the guy who made the mcxnow exchange had anymore than a single computer to host it from at first.  THat reminds me, I wonder what happened with that IPO, I honestly haven't check since it happened...

If you are taking money for pot, why not just accept an established currency like litecoin or novacoin? Because it has 'pot' in the name of the coin.  Besides, the name CannabisCoin would have been much better IMHO.  If you are pro hemp industry or medical marijuana I think you'd get behind CannabisCoin faster than pot coin.

Basically we have over 200, 250 not very original copy coins now. Do we really need another? What's the point of making a coin that has such a narrow focus?

I'm going to bow out of this conversation. Don't want to rain on any parades here and I admit I haven't read more than 30 seconds about this coin.

There are just.........too..........many............coins.

Pot is fantastic. But I think you have to be stoned to think this coin is going to be a success.

Thanks for the quick help Balthazar. You are the most helpful coin-maker dev IMHO, cheers.

I'll play around with the getblockbynumber command. I think I'm fine.

Aw crap think that might have might have been a problem that I had with the 4.4.7 64 bits Windows. From both of my wallets on two separate boxes they had POS stakes generated for only 40% / 55% of the wallets balance, whereas before it has been POS block proportional to 100% of the balance. Was that the issue? I'm still a bit new to how POS blocks and how they are calculated.

Actually no I forgot, one of my wallet boxes is running Debian linux 0.4.4.7 beta, not Win 64,  so I guess what happened wasn't a bug.

Anyways, will keep updating to newest release.

A very well designed and coded  Decentralized Exchange could certainly make it very difficult to scam people.  You could feasibly design a p2p exchange with little potential to scam people using some sort of cryptographic escrow could you not?  Certainly FAR less scam potential than with a centralized exchange, I would think.  It is technically feasible, it is just a very difficult project.

Colored coins may be way the way to go as well.

Decentralized exchanges and stock investments houses are the only way to go for two reasons:

1) Governments are likely going to be increasingly hostile to Bitcoin as it becomes apparent that BTC shows how weak fiat currencies are in comparison. Most countries have economic policy set by the fiat based banking cartels and are all beholden to American monetary policy, which is set by the Federal Reserve and mostly Goldman Sachs.  For example BTCTO was a great place to invest in stocks then all of a sudden poof, 'hey we are closing in 30 days'. That destroyed a lot of value in a lot of stocks as they suddenly had nowhere to trade. Before not too long the only place you'll be able to run an exchange will be Somalia or Sealand if we don't have much luck.

2) WAY too many scammers and scams going on the world of Bitcoin. How many people have lost money to exchanges that have unscrupulous or thieving operators ? [raises hand] Even in the best of times they may just shut suddenly taking all your money with them.  For myself, the last time this with BitFunder. The guy running that, Ukyo, stole millions of dollars worth of deposits and hasn't even needed to give an excuse to people about what happened to their money.  Screw that (for me anyways). I'm using exchanges at the absolute minimum these days although I used to be an active trader and investor.

I think a year from now -- or maybe just really hoping -- that decentralized exchanges will be a serious option for the community.

I'm sorry, but if you ordered a Monarch it is your own fault. You'd have to be a retard to think that they were going to deliver it anywhere near on time when they said they would. You would know this if you did any research at all in to BFL.  And if you didn't do any research, again, it's your fault.

I do feel bad for anyone who ordered pre-Monarch products like the Jalapeno etc.  But the Monarch.  Ya that's your own fault buddy.

I think I remember reading the first reported withdrawal problems were in the 3 week of October.  But anyways here at least is proof of a problem since late October, Oct 28.

Username   WeExchange ID                                                  Amount                                Time Stamp

Falko0815  DkcQSadTbyuqcuOD2R4a2UqB0zvnGPZW                    13.3                                        2013-10-28 12:36:12
from
https://bitcointalk.org/index.php?topic=337523.0

Folks should give negative trust to Jon Montroll to warn people. Unless you think it is fine with taking folks' deposits into his exchange and treating it as his personal wallet.

You could destroy bitcoin but you can't destroy the idea of bitcoin.  Cat is out of the bag. It it has been invented. 

I hear you. Ukyo really angers me.   He's taken millions of dollars and doesn't even have a bad trust rating.  I don't know how people can be so nonchalant about having their money stolen.

Ukyo what did you do with all our deposits?  "Oh it's gone, for.... reasons.  Ya reasons.  Announcements coming in little while."   And just repeats this for months. This whole experience has shown how easy, and how little repercussions their are, for stealing peoples money. It has been a real eye opening experience for me and has soured me on the bitcoin economy.

I can't help but suspect he's paid off a lot of the people with bigger accounts and has screwed us little guys. Because I just can't understand how little has been done and how few people are upset. I only had a $1000 stolen from me and I'm really upset. I can't imagine being owned 100btc or more from Ukyo, like some users, and then just taking it up the ass and not doing anything about it.

Maybe part of it is folks worry if they complain or ask too many questions that will hurt their chances of getting their money back? If so folks need to get over it, we are not getting our bitcoins back....the guy hasn't even told you what happened to them, wake up and smell the coffee.

If you are looking to make money, just buy BTC. You'll save yourself a lot of work, and the odds are that you'll make a good profit.

If you are looking to mine guess you like that sort of thing, research research research.  3 pieces of advice:
1) gpu's are great because they have a very good resale value.
2) for ASICs, if you want to break even in 2.5 / 3 months at least.  if it doesn't look like it will by then, don't get it
3) don't go for any preorders.  there is no point any more, and it is too risky.

I'd cash out 100 btc, move to a country with low prices, cheap electricity, great beaches and sexy girls, and then invest the 400 btc in mining and other less risky investments, and live happily ever after.

Wish I was paying more attention recently.  I don't know about .5 .6 prices, that may be great or too much (up to you to decide), but  I do know Asicminer would have been a great buy around .2 / .3, wish I noticed it got that low.

The new chips sound really impressive.

The world of Bitcoin is amazing.   From somewhere around 15 BTC a gigahash to 15$ USD a gigahash in less than a year, pretty amazing.

Which I had more capital, would love to be a reseller, I think this product will kick ass.  Good job F.C .

Pre-orders are risky business.  The odds are against it working out. For every KNC you have , I dunno, about 5 companies that don't deliver, and 3 companies that under-deliver, and 2 companies that are super-late, like Avalon.

Gox won't steal your money like Jon Montroll of WeExchange, but can take a terribly long time for them to process stuff. Even a year ago when I stopped using them they took forever, it's probably way worse now.

WeexUser, do you want to claim for the record that you are not Ukyo / Jon Montroll ?  I can't fathom why anyone would make an account and post over 70 messages supporting this scam unless it was in fact you.   Just like Jon Montroll you never answer questions you don't want to ask, you just deflect them.

As far as I recall the notice was not put up on Nov 16th. I checked after writing that post you wrote and recall not seeing that warning message.  But let's say it was accurate.  So Jon Montroll for 30 days or more, knew that he could not pay anyone back who deposited money to WeExchange, still allowed people deposit, without giving them any warning.  Great Jon / Ukyo / WeexUser, you really proved what an innocent person you are. It was only for over a month that you accepted money with no ability to pay back the depositors  

You've had my BTC for over 2 months now, closer to 3 , and you want to argue and rationalize what is okay with this situation? You have a lot of nerve.

That is pretty funny when you consider each point they made...against the USD, or pretty much any other fiat currency for that matter.  

In a contest , I think bitcoin compared to USD against the bullet points they made: bitcoin edges them out.

The hard to understand point is close though.  I'm not a great explainer.  And I don't think I have had much describing to folks I talk to about either a) how bitcoin works (even though I know the subject well, still a bit a difficult to succinctly lay out with out many technical terms      or   b) how currency is created from two entities buying stuff they made up from one another, at interest, out of thin air, that is based on nothing, and how each countries' currency in the global economy is pegged against that one.    

I think A) is easier to explain but it is close .

Let's do a quick comparison here with Bitcoin (A) and USD (B)

* Very hard to comprehend, and way to complex
-see above
* Not backed up by anything or anyone
-bitcoin) backed up by its ability to resist counterfeit  (imho)
-usd)
* High volatility
-bitcoin) experiencing unbelievable growth due to its intelligent design
-usd) well nothing is going to be that volatile if everything is pegged against it,
* No money or gold guarantees
-bitcoin) exchangeable for either ,anywhere on the globe, in moments, due to technology
-usd)  used to be exchangable for gold at any bank.  until the banking industry had this repelled. now there is no backing, except the threat of violence. which isn't a great thing to base currency on from a sociological or humanistic perspective.  
* Lots of uncertain technological risks
-bitcoin) open source code, any of the millions who use it can see the code and if they find flaws, work to bring them to attention
-usd) their are a great deal of uncertain technological risks when the vast majority of created currency only exists as numbers in alternate ledgers. i.e there is no 'ultimate ledger' for money, and most of it exists in computer banks.  if you are a bank with 1/5th of the worlds currency and you magically gave yourself 10$ million this would be incredibly, maybe impossible, to detect, if you had the control and know-how .  not to mention the other inherent electronic weaknesses of old currency, credit cards are not a secure system and prone to abuse
* Very sensitive to fraud, illegal transactions & government regulation
-bitcoin) public block chain record system
-usd)  can be counterfeited.  often used for fraud, bribes, and illegal transactions. countless examples, but HSBC's huge drug cartel money laundering comes to mind.   how about government regulation? when your economic policy is not dictated from elected officials but instead employees of Goldman Sachs, you have a problem. this is becoming more and more obvious and will continue to do so, because the problems behind this are too huge to miss.


On further consideration, stuff like this from the banks scares me a bit. Because so many people seem to believe this lies about fiat currencies, even when they logically know that they are incorrect or that the system is broken.  It is so ingrained though that to even consider it being incorrect is unfathomable. It's like some sort of odd, logical/emotional dissonance