CryptoCoin Exchange Freicoin support (Also BTC/LTC/PPC/NVC/TRC/NMC)

[bushstar]

Freicoin has now been added to the CryptoCoin Exchange.

http://exchange.zapto.org/

It would be great to see some volume on this site for all the cryptocoins they support. There is a chatbox on the site which is the reason so many people hang out at BTC-e. Now you have somewhere else to hang out

[🏰 TradeFortress 🏰]

Great, more scam currencies that will never be used.

Freicoin = Federal Reserve Coin = Foundation Taxes Your Coins. 80% of your mined coins goes to the foundation. Postmining.

NovaCoin = NovaScam = premined, bribes operators (possibly CryptoCoin Exchange), centralized

--

PPCoin is still centralized, but Sunny King developed an interesting idea of proof of skate (no premining), and litecoin actually has a small economy (plus no premining), and terracoin is a straight off bitcoin fork but at least there's no premining.

[tacotime]

exchange is very nice.  i sent some useless nvc to it.

[crazy_rabbit]

And the Chat box is back up. 

[jtimon]

What I still don't understand is why we have LTC/FRC, NVC/FRC, PPC/FRC TRC/FRC but not BTC/FRC nor NMC/FRC.

Being that the more widely traded currency of them all is BTC, wouldn't it make sense that BTC/FRC had more volume than say...LTC/FRC ??

Maybe it's just me. Btc, nmc and frc are the only proof of work currencies I have ever owned and I can't trade to frc from any of the other two. I don't own nmc anymore, but it's a strange coincidence.

Please, someone tell me what I'm missing.

[nethead]

I deposited 1510 FRC today there, due to demmurage till the confirmations i got 1509.998, no problem with that, but i have to report a bug

I tried to put a sell order on FRC/LTC and canceled immediately, now i got 1479 without selling any frc :/ (checked i have no ltc)
I send him a mail and hope he fixes that

txid: e662da70e465466ac289e3987ab9aa374e731da0dc5dd3278036c926a3a66691
other txid's i got in there as "move" (due to the selling order and canceling it)

605b9208169b929a06947635ddaecd4bd87b8d049331d9f65e5fbec9f660584d (move)
and
d86c617ead121bc064efeec0b70b6be31ba4fd08b1ee0a999fbb96d9e3509e99 (move)

username there: nethead

Plus, "Your withdraw limit is: 0 FRC"

[Sunny King]

What I still don't understand is why we have LTC/FRC, NVC/FRC, PPC/FRC TRC/FRC but not BTC/FRC nor NMC/FRC.

Being that the more widely traded currency of them all is BTC, wouldn't it make sense that BTC/FRC had more volume than say...LTC/FRC ??

Maybe it's just me. Btc, nmc and frc are the only proof of work currencies I have ever owned and I can't trade to frc from any of the other two. I don't own nmc anymore, but it's a strange coincidence.

Please, someone tell me what I'm missing.

This is probably mugen's way of beta testing a new altcoin. BTC is not directly exchanged first so any problem is likely limited to altcoins pairs.

He did this for TRC as well. Don't worry I think he will add BTC/FRC pair soon enough.

[jjiimm_64]

I deposited 1510 FRC today there, due to demmurage till the confirmations i got 1509.998, no problem with that, but i have to report a bug

I tried to put a sell order on FRC/LTC and canceled immediately, now i got 1479 without selling any frc :/ (checked i have no ltc)
I send him a mail and hope he fixes that

txid: e662da70e465466ac289e3987ab9aa374e731da0dc5dd3278036c926a3a66691
other txid's i got in there as "move" (due to the selling order and canceling it)

605b9208169b929a06947635ddaecd4bd87b8d049331d9f65e5fbec9f660584d (move)
and
d86c617ead121bc064efeec0b70b6be31ba4fd08b1ee0a999fbb96d9e3509e99 (move)

username there: nethead

Plus, "Your withdraw limit is: 0 FRC"

I have a similar issue/story.

when putting a sell order in to sell 1000 frc.  the order is posted as 950. is that the 5% demerauge?  i thought it is 5% per year or something.
I think the op is leaning on the safe side not to be short anycoin over time.

[Bicknellski]

Thanks for the add on.

[bushstar]

I deposited 1510 FRC today there, due to demmurage till the confirmations i got 1509.998, no problem with that, but i have to report a bug

I tried to put a sell order on FRC/LTC and canceled immediately, now i got 1479 without selling any frc :/ (checked i have no ltc)
I send him a mail and hope he fixes that

txid: e662da70e465466ac289e3987ab9aa374e731da0dc5dd3278036c926a3a66691
other txid's i got in there as "move" (due to the selling order and canceling it)

605b9208169b929a06947635ddaecd4bd87b8d049331d9f65e5fbec9f660584d (move)
and
d86c617ead121bc064efeec0b70b6be31ba4fd08b1ee0a999fbb96d9e3509e99 (move)

username there: nethead

Plus, "Your withdraw limit is: 0 FRC"

I have a similar issue/story.

when putting a sell order in to sell 1000 frc.  the order is posted as 950. is that the 5% demerauge?  i thought it is 5% per year or something.
I think the op is leaning on the safe side not to be short anycoin over time.

The 5% is to cover demurrage while the order is sitting there looking pretty. When the 5% no longer covers the demurrage amount the order is cancelled.

The following is a post on CryptoCoin about Freicoin handling.

Final Freicoin exchange design

Submitted by mugen on Thu, 2013/01/17 - 03:24
After struggling with several problems with Freicoin and other bugs, we wanted to announce or hopefully final Freicoin exchange design.
To keep things smooth we decided to reduce all placed and not directly filled orders by 5% in bid amount. These 5% are used to pay the demurrage while the order is waiting for getting filled. This has the great advantage, that we only have to check the order, when it is going to be filled or canceled. The remaining amount of the 5% are returned to the user who may place them again in a new order. If the 5% the exchange kept is not enough to support the demurrage, the order is canceled automatically. If things are going normal, this 5% are enough to keep the order for one year. Later we may leave it to the user how much of the order should be used for demurrage.

Source: http://exchange.zapto.org/content/final-freicoin-exchange-design

Mugen also posted this very interesting message about their Novacoin support.

Why Novacoin ...

Submitted by mugen on Sat, 2013/02/16 - 04:15
... because its scam.
There is complain about NovaCoin because of its pre-mine and centralized control making it to a scam. That very good from our point of view, since it increase the possibility attacks on this chain. Please do your best to do so. I mean you all know that NovaCoin is a scam. How is using it knows he will lose coins. We would like to see what happen with the exchange if the chain gets attacked. Something will break for sure, since we have no code for something we do not know that can happen. Logically, or?
This does not mean you have to attack the exchange. The exchange will die very soon, since its running of a very tiny VPS and not much is needed this kill this VPS. Please focus your hate on the chain so we can make the exchange more robust.


Source: http://exchange.zapto.org/content/why-novacoin

[RoadTrain]

Mugen also posted this very interesting message about their Novacoin support.

Why Novacoin ...

Submitted by mugen on Sat, 2013/02/16 - 04:15
... because its scam.
There is complain about NovaCoin because of its pre-mine and centralized control making it to a scam. That very good from our point of view, since it increase the possibility attacks on this chain. Please do your best to do so. I mean you all know that NovaCoin is a scam. How is using it knows he will lose coins. We would like to see what happen with the exchange if the chain gets attacked. Something will break for sure, since we have no code for something we do not know that can happen. Logically, or?
This does not mean you have to attack the exchange. The exchange will die very soon, since its running of a very tiny VPS and not much is needed this kill this VPS. Please focus your hate on the chain so we can make the exchange more robust.


Source: http://exchange.zapto.org/content/why-novacoin

sad. Why would an exchange owner ever ask to attack a blockchain because they don't like the coin?
Like if BTC-E asked its users to attack LTC blockchain for any reason (from their point of view)? It's not acceptable in any way. I'll never use that exchange.

[crazy_rabbit]

Mugen also posted this very interesting message about their Novacoin support.

Why Novacoin ...

Submitted by mugen on Sat, 2013/02/16 - 04:15
... because its scam.
There is complain about NovaCoin because of its pre-mine and centralized control making it to a scam. That very good from our point of view, since it increase the possibility attacks on this chain. Please do your best to do so. I mean you all know that NovaCoin is a scam. How is using it knows he will lose coins. We would like to see what happen with the exchange if the chain gets attacked. Something will break for sure, since we have no code for something we do not know that can happen. Logically, or?
This does not mean you have to attack the exchange. The exchange will die very soon, since its running of a very tiny VPS and not much is needed this kill this VPS. Please focus your hate on the chain so we can make the exchange more robust.


Source: http://exchange.zapto.org/content/why-novacoin

sad. Why would an exchange owner ever ask to attack a blockchain because they don't like the coin?
Like if BTC-E asked its users to attack LTC blockchain for any reason (from their point of view)? It's not acceptable in any way. I'll never use that exchange.

I don't interpret him as asking people to attack the NVC blockchain. I see him as saying that he is curious what happens if someone does attack the chain, and what that means for him running the service. Him saying to focus your hate on the chain not him is kinda like how Coinotron has been screwed by DDOS just for offering a NVC pool. He's not saying to actively attack NVC, he's just saying don't misplace your anger and try to screw him by offering NVC support. Make sense.

[bushstar]

Mugen also posted this very interesting message about their Novacoin support.

Why Novacoin ...

Submitted by mugen on Sat, 2013/02/16 - 04:15
... because its scam.
There is complain about NovaCoin because of its pre-mine and centralized control making it to a scam. That very good from our point of view, since it increase the possibility attacks on this chain. Please do your best to do so. I mean you all know that NovaCoin is a scam. How is using it knows he will lose coins. We would like to see what happen with the exchange if the chain gets attacked. Something will break for sure, since we have no code for something we do not know that can happen. Logically, or?
This does not mean you have to attack the exchange. The exchange will die very soon, since its running of a very tiny VPS and not much is needed this kill this VPS. Please focus your hate on the chain so we can make the exchange more robust.


Source: http://exchange.zapto.org/content/why-novacoin

sad. Why would an exchange owner ever ask to attack a blockchain because they don't like the coin?
Like if BTC-E asked its users to attack LTC blockchain for any reason (from their point of view)? It's not acceptable in any way. I'll never use that exchange.

Sounds like they added Novacoin to do some testing on their site.

Personally I'm all for testing (AKA attacking) coins. We know the flaws of Bitcoin and we should be testing these flaws on the alts because it is the only place a lot of the vulnerabilities can be exploited. This way we can help alt-coins evolve. No one would then release an alt-coin without some form of 51% protection. Whichever solution allows alt-coins to survive would be used by others and would perhaps make its way into Bitcoin code.

[RoadTrain]

Anyways they would like to see what happens if the chain gets attacked. Many would like, but the exchange owner shouldn't be among those who would like. Because it will always hurt innocent people. It will hurt its users. The fact that he disclosed his intention doesn't make it any better. Where is the high ethical standard?

If they do this kind of testing it only means they're immature as an exchange.

[bushstar]

If they do this kind of testing it only means they're immature as an exchange.

I agree. It would be irresponsible of them as an exchange trading NVC to attack it.

Their comment is made in light of the fact that there are ongoing attacks against Novacoin. They seem to be siding with the attackers perhaps so they will not seen as the enemy.

Then again if took the message from CryptoCoin seriously, made a call of arms and then took down Novacoin perhaps we could credit the demise of the coin to Cryptocoin

By the way, if anyone does want to 'test' Novacoin I have 4,000Kh.

[nethead]

shame on you bushstar 

btw everything got fixed about the bug i reported earlier

[bushstar]

shame on you bushstar 

I'm not a bad person. I see vigorous testing of alt-coins as a good thing to force them to evolve. Perhaps my reasoning is spurious.