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1842
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: CoinMarketCap.com - Market Cap Rankings of All Cryptocurrencies!
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on: December 26, 2013, 07:25:04 PM
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If the rhetoric of 'open, transparent information source' is acted out, then, Ripple should be clearly labelled as 'not a real cryptocurrency', issued by a central authority, not open source.
Wrong. It is open source. And wrong again. It is a cryptocurrency, just not a decentralised one. See - http://en.wikipedia.org/wiki/Cryptocurrency for sources so you can learn and stop spreading misinformation. Where is that information on that website?
See above. Hint: you're wrong. I have ignorant people asking about the '$2 billion dollars that were invested' in Ripple. This is very dangerous to cryptos, siphoning off real investment funds (not the misinterpreted, then fictitious, 'market cap',) that would otherwise go to legitimate open-source cryptocurrencies into the pockets of the the cabal of exploitational advertisers, poisoning the minds of noobs and keeping humanity repressed.
Perhaps instead of supporting the exploitational illusion that ripple belongs as an equal on that list, you could work towards educating noobs on what a market cap means. I'll start you off:
Market Cap = Last Price x (multiplied by) Outstanding Float (total available in crypto addresses.)
I'm going to surprise you here and inform you again you are wrong. Do you know how Ripple works or have you just read a couple of information pieces? Why are you calling people noobs when you don't even know the basics and clutter up this valuable topic with your bullshit? 100 billion XRP have been created and can be used at any point of time. It's human choice stopping them from being spent. What your mind can't distinguish is that is separate from the fact most XRP are in the hands of Ripple Labs. Btw you probably think I'm a Ripple supporter - I'm not. Check my post history, I've probably mentioned them twice in the last year. It's just funny to me seeing so many people get mad over things they don't understand. |
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1844
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: Nxt :: descendant of Bitcoin - Updated Information
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on: December 26, 2013, 04:10:07 PM
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NXT nodes are needed to make NXT strong. Those nodes are only going to be stood up by people motivated to do so. I repeat my contention that forging does not seen to be a strong motivator for setting up NXT nodes when examined closely. This could be a problem. This forum exists to address to problems.
How much NXT you earn from forging depends on transaction volume. NXT users is still a small pool of individuals and transaction volume is low. Transaction volume will increase exponentially as we have seen with Bitcoin which will increase forging profits dramatically. I guess this situation is like when Bitcoin first launched many years ago... what motivation was there to mine? |
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1847
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: Nxt :: descendant of Bitcoin - Updated Information
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on: December 25, 2013, 11:53:27 PM
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If I ran a giveaway thread would any large stakeholders be interested in donating to it? It is very important that large stake holders don't horde their coins or this project will die on the vine. We are already being accused of being "oligarchCoin" and this problem HAS to be dealt with swiftly if we want this project to prosper. I'm not asking anyone to be altruistic here. If you are a stakeholder with 50million coins it is in YOUR self interest to give half of them away (im not asking you to give me 25million coins  ). If you widely disseminate half of your coins than the remaining 25million will probably be worth more someday than the 50 you otherwise horded. If you are such a large stakeholder than i understand that you probably don't have time to run a giveaway thread so that is why I would like to do it for you! For those who are concerned that these coins will hit the market and drive down the price. I don't think that is such a worry. People who receive 10, 50, or 100 coins arn't going to turn around and dump them on dgex. It isn't even worth their time to register on dgex. But they definitely might register on dgex to buy more coins once they have had a taste. If there is anyone who would like to support me in this, the amounts that i give out will be weighted by activity, post count, and membership seniority and registration date. I will also be reading their posts to make sure they pass the touring test. I will take countermeasures to insure that spammers do not exploit my thread. If you are sitting on < than 3 million coins this is not for you. Like i said before im not asking for altruism, im asking for the help of people who it is in THEIR interest to give away coins, if you have less than 3 million than your interest is just to keep them for yourself. However what you can do to help is pass this message on to anyone you know who may be a large stake holder. PM me if you are interested. If all the original stakeholders put just 1% of their coins aside for bounties that would be almost 1000BTC of bounties on offer. It's a form of protection and a way to strengthen their investment. It would also *really* help the marketing image if we could also point and say look at all these bounties that derived from the initial coin distribution and significantly impacted NCT's acceptance/marketing etc. |
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1848
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: CoinMarketCap.com - Market Cap Rankings of All Cryptocurrencies!
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on: December 25, 2013, 11:48:54 PM
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Cycloid if it's an invented exchange how come I bought a load of coins on it fine and sold a bunch of coins on it fine for profit later? So the buying side worked and the selling side worked... kind of confused. Have you actually *used* it mr fudster? Gliss, in light of this new market cap exploit, but since they are playing by your rules which you dont want to bend. May i suggest a "cure" for this nonsense ?
Since clearly the main issue here is that prices are coming from single exchange for each of the coins in question NXT and MSC and these exchanges although in question I see they are indeed public as you say and that is why they are granted a spot on coinmarketcap
What i am suggesting is
Green highlight through coins like BTC , LTC , PPC, NMC and a like and reserve green for price feeds with trusted |MULTIPLE exchanges such as MtGOX, Btc-e, Vircurex, Coinbase, Bter and so on..
Yellow could be reserved for coins which are traded only on ONE reputable and then one or more new exchanges and could indicate that it is susceptible to market price manipulation as it is not well distributed.
Red would show that this coin is traded on its own dedicated exchange and could be easily faked with out anyone ability to verify or prove it.
You can also have filters at the bottom to filter all but green or yellor or red and display only those coins for ppl who want to take larger risk
what i am suggesting is not perfect, but i think it will give us a fighting chance against this type of exploit as we go forward. I see some new coins starting with 3-4 exchanges to show more trust in them and even grouping with other shitcoins to offer more then one on their scam exchanges to cross manipulate them and thus buffing up coin market cap to attract new real money. With out a clear filtration system for this we are putting new members of crypto community in harms way.
Merry Christmas
More hyperbole and drivel for a delusionally fabricated problem. Keep it coming. Haha. Laughed hard at that one. |
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1849
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: Nxt :: descendant of Bitcoin - Updated Information
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on: December 25, 2013, 10:15:06 PM
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NXT is heavily undervalued right now. It should be above Mastercoin for sure. And we have much more community support and spirit over at nextcoin.org than they do on the mastercoin forum.
This coin has legs. The NXT devs don't sit around planning and discussing things for 6 months and drawing pretty pictures etc whilst nothing gets done... they follow agile development - get the product out there 'in the wild' and keep refining it til it's perfect.
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1850
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Alternate cryptocurrencies / Altcoin Discussion / Re: NXT coin - A total scam?
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on: December 25, 2013, 05:00:13 PM
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3. The system were full of bugs. The client I installed never ran properly more than 24 hours.
I had to delete the .nxt or re-download all client and block chain files to fetch the latest block info every time I restart computer.
And the block chain update progress always got stuck.
Not to saying the super user with huge amount of coins or negative number of coins.
Bitcoin had bugs once you know. It's years old now. Please note, NXT is built on a totally new codebase with different concepts. Do not compare it to Bitcoin clones which have only a few tweaks or deviations from the Bitcoin codebase. |
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1851
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Alternate cryptocurrencies / Altcoin Discussion / Re: NXT coin - A total scam?
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on: December 25, 2013, 02:58:16 PM
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Bitcoin - a total scam?
Satoshi mined one million Bitcoins in the first year. Must be a scam right?
Grow up plz. Sure, if in a year from now NXT hasn't become a fully functional cryptocurrency call it a scam but the signs so far are extremely encouraging and the market as a whole obviously sees that which is why the value has soared so much on dgex.
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1854
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: Nxt :: descendant of Bitcoin - Updated Information
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on: December 24, 2013, 08:24:18 PM
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When using the API, what's the difference between balance and effectiveBalance?
My effectiveBalance still shows 0 even though have over 3000 coins in my balance and the associated transactions have around 400 confirms. This is what I'm seeing exactly:
{"balance":325200,"effectiveBalance":0,"unconfirmedBalance":325200}
"unconfirmedBalance" is the balance minus all unconfirmed sent transactions. It doesn't include double-spending and unconfirmed received transactions. A user sees the unconfirmed balance in the client. |
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1856
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Alternate cryptocurrencies / Altcoin Discussion / Re: Should I invest $10,000 into Quark or Dogecoin?
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on: December 24, 2013, 08:21:06 PM
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NXT has creeped up into the top 5 cryptos and is only just starting to get attention. Look at these points for NXT:
1. No mining required -100% proof of stake (this beats PeerCoin's main advantage). No wasted mining power
2. Faster transaction times than Bitcoin or Litecoin
3. Alias system (beats Namecoin's unique selling point).
4. Ridiculous number of cool features coming in the next month - peer to peer decentralised exchange, marketplace, anonymous messaging system, voting system
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1858
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: CoinMarketCap.com - Market Cap Rankings of All Cryptocurrencies!
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on: December 24, 2013, 08:02:00 PM
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Ok NXT market cap formula is 999,997,986 X $ 0.037 = $ 36,968,943
Using this formula the moment it hits $1 you will effectively rank it higher then Litecoin on market cap.
Do you honestly not see a problem with formula used in this particular case?
There is no problem with the formula, you clearly do not understand what market cap is supposed to show. Any of the founders who hold a large amount of coins can sell them whenever they want. If their coins become worth $10 million and they only want to sell 1000NXT that is up to them. Market cap reflects the overall market consensus of the value of the coin based on who sells and who buys. What about Satoshi who mined almost 1 million bitcoins? Or the Litecoin addresses that hold hundreds of thousands of Litecoin and haven't had any activity in them for a year etc. According to your own argument that would also make market cap invalid  |
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1859
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: Nxt :: descendant of Bitcoin - Updated Information
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on: December 24, 2013, 06:53:31 PM
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Working on node infrastructure with a full redesign of nxtbase to support 100+. I won't open source my new management stuff for a bit, but here's a handy one for you VPSers running ubuntu. $ sudo apt-get install --yes supervisor
$ sudo service supervisor restart
Then copy file like this to /etc/supervisor/conf.d/nrs.conf: [program:nrs]
command=java -Xms$MIN -Xmx$MAX -jar start.jar
autostart=true
autorestart=true
stderr_logfile=/home/$USER/nxt/logs/stderr.log
stdout_logfile=/home/$USER/nxt/logs/stdout.log
user=$USER
directory=/home/$USER/nxt
Replace $MIN and $MAX with your memory limits. Replace $USER with your user. The run: $ sudo supervisorctl reread
$ sudo supervisorctl update
$ sudo supervisorctl status
Now, what do you get for your efforts? Restart on crash Restart on reboot handy commands for start/stop/restart/status ( sudo supervisorctl CMD nrs). Cool huh? Nice tips. Thanks. |
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1860
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: Nxt :: descendant of Bitcoin - Updated Information
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on: December 24, 2013, 06:13:51 PM
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in terms of mining, its still way to early to worry about it. there are very little paid transactions going out. I have 250k and have tried to be open for the past two weeks, but I have mined 2 blocks and earned 1nxt Is anyone else having more luck? To explain further, the NXT you earn from forging comes from transactions. The more transactions there are on the network the more NXT available for forgers to potentially grab. Right now since it's a very new project the transaction volume is low. As network transaction volume increases forging will become more lucrative. That is my understanding of it |
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