[ANN] 42-coin Development Discussion Thread

[Ucicha]

Hopefully some good news, the price of 42 coin listed on https://chainz.cryptoid.info/42/ in the upper left corner has been updated and the source for that information is from Cryptopia. So I am keeping hopes up they are comming back online or at least that the funds have not been touched
(the price listed on the explorer went to 0.00 when Cryptopia was hacked)

I'll get Uicha to walk me through this: not quite sure what I'm looking at.

Meanwhile, it's a week today since Topia posted on its Twitter.

[But Topia can kiss our tookus. The Telegram 42 channel is buzzing. Trading is good. Price is good.]

In a few notes:
1. https://chainz.cryptoid.info/42/ in the upper left corner has a "Price" tag, and when you mouse over it, it shows that the source of the information is ---https://www.cryptopia.co.nz/Exchange?market=42_BTC
2. When Cryptopia went down, the price tag went to 0.00. (when trading was closed, my guess)
3. Price tag has now been updated for a few days BUT
4. When the price tag was updated a few days ago, it showed some 4.37BTC if I recall right. At the time of writing, 21.02.2019., the price tag is now 4.28BTC. Therefore,
5. Its weird at the least, the price tag movement I mean

[secoccular]

I have been thinking of running a Trading 42 101. I have a bunch of notes I wrote for a guy on Telegram.

Most everyone on Planet Krypto is looking for a fast buck. But the steady money -- a lifetime as a trader -- lies in patience, particularly for a crypto like 42. Ask me to explain what 'hoovering' is!

Magnificent summer morning here -- got mustangs nearby.

Would you please explain what 'hoovering' is?

Thank you to Ucicha and yourself for bringing us the goods. Really, really good stuff. It's the type of information I need, but find relatively rarely on forums..

[IMZ Noo Account]

I have been thinking of running a Trading 42 101. I have a bunch of notes I wrote for a guy on Telegram.

Most everyone on Planet Krypto is looking for a fast buck. But the steady money -- a lifetime as a trader -- lies in patience, particularly for a crypto like 42. Ask me to explain what 'hoovering' is!

Magnificent summer morning here -- got mustangs nearby.

Would you please explain what 'hoovering' is?

Thank you to Ucicha and yourself for bringing us the goods. Really, really good stuff. It's the type of information I need, but find relatively rarely on forums..

Secoccular, hi

In the l o n g downturn following the 2013 spike, I was devving with another rare crypto. And as now with 42, we were concerned to drive volume. And I personally was interested in P2P.

So, ‘hoovering’: The Coin had – as we have – that splendidly tradeable ‘flatness’ of price. I allocated a good chunk of capital to the project.

Note: tight buy-sell spread.

So, I would leave my computer logged in to the trading-pair in question open as I did stuff.

I’d keep pushing my bid to the top of the ‘low side’ bids. Or if the spread went crazy crazy tight, I’d buy tiny bits on the high side.

Note again: rare coin. Small amounts on the markets.

Well, within three months, I had about eight thousand bucks’ worth of ‘packets’ of Rare Coin safely at home in my QT, and with the buy-in prices marked.

Then I started selling packets of coin to the members of our ‘in group’ – I belong to an alliance that’s been running for years.

The project was non-profit – but if you are committed to the crypto in question, you don’t mind having quantities in your control.* Sometimes I actually sold packets at less than the market price: members had only to ask what I held.

And we called it ‘Hoovering’ exactly because it involved patiently ‘sucking up’ all those little bits of Rare Coin that got put up by bots on both the high and low sides.


*Abd there's a bunch of theory about 'price modulation' mixed in with all this

[Ucicha]

Update: Price listed on the explorer is now linked to https://www.coingecko.com/en/coins/42-coin, not Cryptopia.

[Ucicha]

Small overview of 42 coin exchanges

Trade Satoshi - exchange with chat/trollbox, faucets (free coins to get you started), and a working support line, as well as chat tips. Has minor GUI bugs that sometimes occur,
                       nothing serious, easy verification with very little info, 2FA enabled. Chart has poor indicators.
                      Withdraw fee is 0.00000005 42 coins
                      42 pairs: BTC, DOGE, LTC, ETH
                      50 confirmations for deposits
                      Overall OK

Livecoin - exchange with a working support line. 2FA enabled, no ID verification necessary. Chart has poor indicators.
               Withdraw fee is 0.00000100 42 coins
               42 pairs: BTC, ETH, USD
               8 confirmations for deposits
               Overall OK

Nova Exchange - exchange with chat/trollbox, 2FA enabled, easy ID verification, working support line. Chart has poor indicators. Could have better design of listed/traded coins.
                         Withdraw fee is 0.00000015 42, formed with TX fee and withdraw fee together
                         42 pairs: BTC, DOGE
                         40 confirmations for deposits
                         Overall OK

XBTS - decentralized exchange, no verification necessary
            Withdraw fee is 0.47737 BTS(Bitshares) and 0.0001 42 gateway fee
            (have yet to make deposits)

Note that confirmations are set by the exchange, not the network. They range from 8-50 confirmations, so with a 20minute block time, 50 confirmations in around 17 hours.

[Ucicha]

Update, Cryptopia posted a few Twitter updates, from their responses, they are implying trading might resume shortly.

[Ucicha]

Cryptopia: Update: We have transitioned 24% of all wallets to our new secure servers. Once the read only site is online, we will be keeping users up to date on which wallets have been checked and secured via the coin info page.

[Than-Ioan]

Cryptopia: Update: We have transitioned 24% of all wallets to our new secure servers. Once the read only site is online, we will be keeping users up to date on which wallets have been checked and secured via the coin info page.

I still can not log in at Cryptopia...

[tiCeR]

Cryptopia: Update: We have transitioned 24% of all wallets to our new secure servers. Once the read only site is online, we will be keeping users up to date on which wallets have been checked and secured via the coin info page.

I still can not log in at Cryptopia...

Maybe you don't even want to log in at Cryptopia Do they have any plans to pay everything back to their customers?

[muleroaa]

Cryptopia: Update: We have transitioned 24% of all wallets to our new secure servers. Once the read only site is online, we will be keeping users up to date on which wallets have been checked and secured via the coin info page.

I still can not log in at Cryptopia...

Maybe you don't even want to log in at Cryptopia Do they have any plans to pay everything back to their customers?

They have control over their exchange again but still need time to get everything sorted and prepared to open up again to the users. Hopefully soon more will become clear

[IMZ Noo Account]

https://cryptonews.com/news/cryptopia-failed-to-reopen-on-monday-3464.htm

[snaker19t]

Spring Portfolio Cleaning. Fees reimbursed at the end of the month.

Nova headquarters is located in Sweden, which is quite a very cold place. Recently though, we have felt spring in the air.
So, Great Nova traders and trolls, spring clean your portfolio in March, We have great news, if your March Trading volume is more than 0.2 btc accumulated you get all your trading fees back minus any referrals paid out at the end of the March. Such Fun and Trade on!!!

https://novaexchange.com/market/BTC_42//

[sirslayer]

Crytopia is open and my funds are still there!!!  42-coins forever!!!!  

update::  the nodes info is still down!!

[IMZ Noo Account]

My funds are there. But we can only push our noses up against the glass until -- ??

[tiCeR]

Cryptopia: Update: We have transitioned 24% of all wallets to our new secure servers. Once the read only site is online, we will be keeping users up to date on which wallets have been checked and secured via the coin info page.

I still can not log in at Cryptopia...

Maybe you don't even want to log in at Cryptopia Do they have any plans to pay everything back to their customers?

They have control over their exchange again but still need time to get everything sorted and prepared to open up again to the users. Hopefully soon more will become clear

So all police investigations are done already? Otherwise I don't think they should be allowed to resume trading. Has the police been involved?

[IMZ Noo Account]

Cryptopia: Update: We have transitioned 24% of all wallets to our new secure servers. Once the read only site is online, we will be keeping users up to date on which wallets have been checked and secured via the coin info page.

I still can not log in at Cryptopia...

Maybe you don't even want to log in at Cryptopia Do they have any plans to pay everything back to their customers?

They have control over their exchange again but still need time to get everything sorted and prepared to open up again to the users. Hopefully soon more will become clear

So all police investigations are done already? Otherwise I don't think they should be allowed to resume trading. Has the police been involved?

https://bitcoinist.com/hacked-cryptopia-resumes-with-read-only-website/

'So all police investigations are done already?' -- finished about a fortnight ago.

'Do they have any plans to pay everything back to their customers?' -- apparently.

I'm logged in at this second. No problem there. You can reset passwords and 2FAs. But everything else seems 'paused.'

[tiCeR]

Cryptopia: Update: We have transitioned 24% of all wallets to our new secure servers. Once the read only site is online, we will be keeping users up to date on which wallets have been checked and secured via the coin info page.

I still can not log in at Cryptopia...

Maybe you don't even want to log in at Cryptopia Do they have any plans to pay everything back to their customers?

They have control over their exchange again but still need time to get everything sorted and prepared to open up again to the users. Hopefully soon more will become clear

So all police investigations are done already? Otherwise I don't think they should be allowed to resume trading. Has the police been involved?

https://bitcoinist.com/hacked-cryptopia-resumes-with-read-only-website/

'So all police investigations are done already?' -- finished about a fortnight ago.

'Do they have any plans to pay everything back to their customers?' -- apparently.

I'm logged in at this second. No problem there. You can reset passwords and 2FAs. But everything else seems 'paused.'

Appreciate your response in such detail and thank you also for sharing the article!

[IMZ Noo Account]

'The Maria Project'

Sigh We're struggling here. I sent Maria's bit of 42 to her Trade Satoshi account, but it hasn't turned up.

Watch this space

[IMZ Noo Account]

Lots going on -- P2P now. But details to follow.

Meanwhile, IndiaMikeZulu got crypto colleagues stuck in Venezuela: no power. No water. Occasional Net.

And if you want to send them a message, leave it here, and I will pass it on.

[IMZ Noo Account]

The 42 wallet at Live Coin is still off-line. But we have a report -- let's see what happens.

P2P is getting closer.

The Venezualan Guys are in contact with us. But their situation is really bad (a p a r t from Cryptopia!!)