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Out of curiosity, is there a particular reason you don't want to use the options functionality already built into BTCT and Bitfunder, the two markets where AMC is already traded?
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7. When price falls, consult the crowd to determine who did this to you (probably one of those meanies).
And though we laugh at the folly of the green investor blaming the unforgiving market for his losses, it actually isn't that much of a stretch to imagine a disgruntled investor complaining to the relevant prosecutors or regulators that the issuers of these so-called "securities" are in violation of U.S. or European securities laws in an attempt to get redress for their losses. |
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If the exchanges don't self regulate, you will see outside regulators come down hard, just like they have landed on Gox. Anyone selling securities on their 'company' who lives in the US or EU are going to find themselves in the cross hairs shortly.
This is one of the ticking time bombs in this investment space that doesn't get much attention. When and if it hits, it will be a big deal. As just one example, if K. Slaughter of AMC fame really is someone living or working in Missouri, this is one of the things that could bring his house of cards crashing down. |
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Bitfunder needs this anyway - some massive loss for investors that will hopefully lead to a change in attitude where people who don't get their plans right first time get told to fuck off.
What is your take, then, on the fact that the pass-through for AMC was approved on btct? bad idea? |
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With initial price at .0049, but max payout at .006, seems like you put the ceiling on payouts a lot lower this time around.
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Reminder -- We're collecting questions from the community that will be compiled and voted on (by the community as well,) and passed on to Friedcat by TAT.
If you have questions that you feel are important, please submit them via PM to either ThickAsThieves, FrankTank, VJain or myself.
Ian
Did he answer the last set of questions? Yes. ThickAsThieves posted Friedcat's response here: https://bitcointalk.org/index.php?topic=99497.msg2460719#msg2460719One of the downsides of the process we went through with the first shareholder poll, where TAT posted Friedcat's response to the forum rather than Friedcat posting it directly himself, is that it is now very easy for a shareholder or investor to miss that response if they attempt the (often recommended!) readthrough of just Friedcat's posts as a means of filtering through the incredible amount of clutter in this thread. Having Friedcat directly post his response to future polls would be ideal. |
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Take a look at the "Total Supply" chart of BitBar, and notice how it is sharply vertical during the day 1 instamine, and then levels off to nearly horizontal: http://cryptometer.org/bitbar_90_day_charts.html. That's a pretty strong indication that the distribution of the ownership of the coin is inequitable from the start, and no amount of mining is really going to change that. Compare that (at the same website, follow the links), to the "Total Supply" chart of coins like bitcoin, litecoin, digitalcoin, worldcoin, or any other coin where the Total Supply slope up much more gradually. Whatever those coins' flaws -- and there may be many -- they don't suffer from the same "almost everything was mined on day 1" problem. |
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Comparing the total supply chart, nice start compared to Yacoin. |
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If the price of VM drops to .0001 then buying them at the price you'll have 188x the dividends of AM in a week. It wont drop to that low.
I meant drops by 0.0001, not drops to 0.0001. If VM drops, from 0.0070 to 0.0069, for example, then your 420 shares have lost a total of 0.0420 BTC, which exceeds the difference between the 0.035 BTC from AM and 0.0758 BTC from VM. true but i don't see it dropping .0001 every week anytime soon. I'm just happy making .25btc a day. I expect the market price to drop faster than that, in anticipation of upcoming increases in mining difficulty. |
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As I understand it - divs will be constant until the next difficulty change (mid-next week I believe). Then, they should be constant until the next difficulty change (2 weeks later)
Keep in mind the difficulty change is defined in the code as every 2016 blocks, which means that in a time of rapidly rising difficulty, the next difficulty shift can happen quicker than 14 days, because the blocks are being solved faster than every 10 minutes. For example, I believe the most recent difficulty jump of 28% happened in a time period a few hours shy of 12 days. |
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In any regulated asset market, there are explicit rules for handling such events. Any insider selling or buying anything is breaking news and directly affects investors' evaluation of a stock. Regardless, your ability and right to control what people pay for shares ended during IPO.
Would you have been ok, or "more ok", then, with Tytus listing shares for sale had he done so anonymously, since it would not send the same insider signal, rather than announcing it so publicly and using a trading platform (picostocks) that appears to allow us all to track which specific accounts are trading the shares? This is one of the interesting differences between picostocks and some of the other exchanges; other exchanges (e.g. btct.co, Bitfunder) would seem to make it easier for large shareholders and insiders to dump shares anonymously without tipping off the market that they are doing so, unless I am unaware of information leakage on those platforms. |
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Are there no divs today?
Thank you for reminding me, I got distracted by other exciting things. I need to keep bugging Ukto to get dividend scheduling added as a feature... can you set a reminder on your phone?  I don't have a phone. Damn.. do you have a computer? Please stop interrupting TAT so he can finish his slide rule calculations and get the dividends out.  |
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It does seem like the 2nd scrypt-jane coin on the scene ought get more attention than the endless scrypt clones, but who knows...
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I hope the facilties are being taken care of by a good security team. Not to be a tinfoilhatter but the more success you have, the more enemies you make. Certain people would be very happy now if the AsicMiner hashing farm were to *accidentally* blow up.
This is not a bad question. In my head the two ASICMINERs datacenters are patrolled by PLA super-troopers, but we really have no idea. Obviously the team behind ASICMINER is more than component, so I'm sure they have thought long and hard about security, and have solid ways of protecing wallets. If everything were operating from a typical office/ datacenter, a bunch of guys with guns could take it over and steal the coins the day before dividends are sent... it would be a not-too-small fortune. At this point I am so impressed with and confident in ASICMINER/Bitfountain/friedcat, I'm sure that they they have a setup/plan for the wallets so that even the Triads have no chance of getting the jump on them. I nominate a query regarding physical security of the current mining datacenters for the next shareholder question poll. |
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anyone who send his giveaway of 20ľOnc back or a part would be honored here
oSLQnP2RDqfqqhzVAM1ERzrkRRZtvSUMf4
i feel so stupid -.-
Uh oh, so you intended to give away 20 nano-ONC, but accidentally gave away 20 micro-ONC (1000x as much) to multiple people? this -.- and till now nobody returned something, phps it is only 1 person with 100 accounts  Well, most people have no sense of units on this coin. If I got that donation and had never mined a block how would I know if it was proportional or not. Plus, greed. If nothing else, this coin is teaching me a little bit about metric system prefixes... |
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anyone who send his giveaway of 20ľOnc back or a part would be honored here
oSLQnP2RDqfqqhzVAM1ERzrkRRZtvSUMf4
i feel so stupid -.-
Uh oh, so you intended to give away 20 nano-ONC, but accidentally gave away 20 micro-ONC (1000x as much) to multiple people? |
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For future reference, you can find the P2P_PORT in the coin's source code in the protocol.h file, it's the 2nd value after GetDefaultPort.
You can find RPC_PORT in the source code in the bitcoinrpc.cpp file, look for GetArg (-rpcport, xxxx), where xxxx is the port.
I'm talking about the values you would specify in the bnetworks.py file.
Just to confirm what I *think* I know.... These values can be specified in the *.conf file as well can't they? (To match bnetwrks.py) That is my understanding, yes. The above just lets you find the defaults if the coin dev doesn't accurately document the default ports, which does happen. |
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So, while solo mining, I noticed that the transaction log seems to list each mined block as being "sent" to a different, unique address, presumably all being owned by my wallet.dat. Is this standard mining behavior for all coins, or something new introduced either by thew newer version of bitcoin that onecoin is forked from, or something new introduced in onecoin itself?
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Waiting for a little price discovery....
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