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Author Topic: GLDCOIN @ Cryptsy! YAY  (Read 6166 times)
mindtomatter
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May 25, 2013, 03:09:30 PM
 #161

I appreciate the attempts to answer this, and have follow-up questions.


For me it the transaction speed, seems very fast, faster than bitcoin.

Can you elaborate on this difference?  You say it seems very fast, why is that?

This is actually an alt. coin with huge potential. The network seems quite stable at the moment, with a reasonable difficulty structure and GLDcoin seems to be building up a dedicated following. Despite the pre-mine the total number of coins and the reward structure should provide some longevity. Congrats to GLDcoin - this one really is a gold rush!
I hope that development continues, its clearly partly built from feathercoin, as you can see when you encrypt the wallet in the current (1st) windows version compile.


I think that Goldcoin could be popular with the masses, over some of the other alt. crypto-currencies, purely due to its name.
Doing quite well on the coinchoose.com leader board as well presently. Cool

Current profitability of BTC 163%.

You like it because it's profitable to mine, as mentioned before that seems like the reason people would like it, but doesn't answer the question of why someone not mining and not speculating would want to use it.  

You like it because it is named  "gold" which makes people think its more valuable than something like "feather" - Do you think this is an advantage, or is it a marketing gimmick?  Does GLDcoin do anything to make it more like "gold" than any other cryptocurrency out there?

What are the reasons, besides being named "Gold" and being easy to mine when right now its hard to mine more popular alt-chains, that it is "building up a following"  - Is there anyone in this following besides Miners who gain from it being more lucrative to mine and speculators who think it will go up in value?   Does it offer any tangible differences in, say, the code, or the rules they codify?  Or is it just about the name and the ease of mining?  

Also, does anyone realize that making an agreement among early miners to not sell their mined coins is a classic example of collusion?  Supply side agreeing to not sell because it would increase the supply available to the market, when by keeping supply tight the price per unit sold will be higher than it otherwise should be?  Does anybody have a problem with that, or is it just standard practice as far as you're concerned?


In addition to the above, i'll be honest here, it's the first coin that I can mine with my single GPU that I feel like I have a say in what happens to it.

I also happen to like the name for what that is worth.

To date I have mined ~6,000 coins, purchased ~30,000 on cryptsy, pledged and or given away more than ~7000 coins.

I don't have $1000's or $10's of thousands of dollars to throw at a mining farm to mine bitcoin or even litecoin, that money is tied up in stocks, forex and physical silver, which I am not going to touch.

In addition I like the people that are involved with GoldCoin and I get to participate and see actual results from my contributions.

Others may feel differently, Others may have other reasons why, but for me the above is the absolute truth, take it or leave it.

Why should you have a say in what happens?  What do you bring to the table with this power?   Whose interest are you acting on behalf of?

Why do you like the name?  Does it have anything to do with reality, or do you think it is a good marketing choice that will make unsophisticated users more likely to trust it because they believe gold has value where feathers do not?

How much did you spend to buy 30,000 GLDcoins, how long did you mine for 6,000 GLDcoins, why did you give some away - Altruism or because you want people to associate value with it, since they now own some and stand to profit form its further adoption?

Besides being easy to mine, what is the advantage of mining GLDcoins?

How do you participate in GLDcoin?  Is there a forum? Do you vote on things?  What things have you directly impacted, and why did you think it was important enough to initiate change on?  Are there any things you feel should be changed about GLDcoin, what are they, why, and why hasn't it already happened?

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May 25, 2013, 03:24:06 PM
 #162

If we were in for the profits we would not still be giving away thousands and thousands of coins which we could sell on the exchange.

WE ARE GOLDCOIN.

So again, I keep asking and have yet to get a response

What does GLDCoin do better or different than other currently available and more popular cryptos? 

I understand that you guys like it because it's easy to mine and you're in it early, but why would anyone want to use it if they weren't mining it or expecting the price to continue going up because more people are speculating in it?   We call that the "Greater Fool" theory - it works until you run out of greater fools.

If you were in it for the profits, you'd be doing everything you can to convince people that there is opportunity - Like for example giving away GLDcoins so more people are invested in it succeeding, because they got coins for free and if they go up in value it will pay off for them.

One last time: Outside of getting GLDcoins on the cheap and hoping they go up in value, WHY would ANYONE want to use this over other already existing chains like Litecoin? 

Last time I'm going to ask, I'll just assume you have no answer if nobody answers again.


For me it the transaction speed, seems very fast, faster than bitcoin.



In addition to the above, i'll be honest here, it's the first coin that I can mine with my single GPU that I feel like I have a say in what happens to it.

I also happen to like the name for what that is worth.

To date I have mined ~6,000 coins, purchased ~30,000 on cryptsy, pledged and or given away more than ~7000 coins.

I don't have $1000's or $10's of thousands of dollars to throw at a mining farm to mine bitcoin or even litecoin, that money is tied up in stocks, forex and physical silver, which I am not going to touch.

In addition I like the people that are involved with GoldCoin and I get to participate and see actual results from my contributions.

Others may feel differently, Others may have other reasons why, but for me the above is the absolute truth, take it or leave it.

That is really it.


GLD has some pleasant honest people., who are not generally in it for a quick buck.

Everyone likes to make a profit, sure, but there is satisfaction in decent, fair trading.

The nastier element on these forums are supporting other coins. We don't diss their choices.

Respect is all.
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May 25, 2013, 03:27:15 PM
 #163

Curious: If you succeed and GLDcoin gets to be a dominant Alt-Chain, do you think the community will stay the same?

Again, I understand how it makes sense now.  But if you succeed, doesn't that fall apart?  Doesn't widespread adoption make that point moot?

The short term reasons are clear, I'm asking about the future of the coin.  Think 6 months out, two years ago - What is the reason at that point?

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May 25, 2013, 03:30:01 PM
 #164

I appreciate the attempts to answer this, and have follow-up questions.


For me it the transaction speed, seems very fast, faster than bitcoin.

Can you elaborate on this difference?  You say it seems very fast, why is that?

This is actually an alt. coin with huge potential. The network seems quite stable at the moment, with a reasonable difficulty structure and GLDcoin seems to be building up a dedicated following. Despite the pre-mine the total number of coins and the reward structure should provide some longevity. Congrats to GLDcoin - this one really is a gold rush!
I hope that development continues, its clearly partly built from feathercoin, as you can see when you encrypt the wallet in the current (1st) windows version compile.


I think that Goldcoin could be popular with the masses, over some of the other alt. crypto-currencies, purely due to its name.
Doing quite well on the coinchoose.com leader board as well presently. Cool

Current profitability of BTC 163%.

You like it because it's profitable to mine, as mentioned before that seems like the reason people would like it, but doesn't answer the question of why someone not mining and not speculating would want to use it.  

You like it because it is named  "gold" which makes people think its more valuable than something like "feather" - Do you think this is an advantage, or is it a marketing gimmick?  Does GLDcoin do anything to make it more like "gold" than any other cryptocurrency out there?

What are the reasons, besides being named "Gold" and being easy to mine when right now its hard to mine more popular alt-chains, that it is "building up a following"  - Is there anyone in this following besides Miners who gain from it being more lucrative to mine and speculators who think it will go up in value?   Does it offer any tangible differences in, say, the code, or the rules they codify?  Or is it just about the name and the ease of mining?  

Also, does anyone realize that making an agreement among early miners to not sell their mined coins is a classic example of collusion?  Supply side agreeing to not sell because it would increase the supply available to the market, when by keeping supply tight the price per unit sold will be higher than it otherwise should be?  Does anybody have a problem with that, or is it just standard practice as far as you're concerned?


In addition to the above, i'll be honest here, it's the first coin that I can mine with my single GPU that I feel like I have a say in what happens to it.

I also happen to like the name for what that is worth.

To date I have mined ~6,000 coins, purchased ~30,000 on cryptsy, pledged and or given away more than ~7000 coins.

I don't have $1000's or $10's of thousands of dollars to throw at a mining farm to mine bitcoin or even litecoin, that money is tied up in stocks, forex and physical silver, which I am not going to touch.

In addition I like the people that are involved with GoldCoin and I get to participate and see actual results from my contributions.

Others may feel differently, Others may have other reasons why, but for me the above is the absolute truth, take it or leave it.

Why should you have a say in what happens?  What do you bring to the table with this power?   Whose interest are you acting on behalf of?

Why do you like the name?  Does it have anything to do with reality, or do you think it is a good marketing choice that will make unsophisticated users more likely to trust it because they believe gold has value where feathers do not?

How much did you spend to buy 30,000 GLDcoins, how long did you mine for 6,000 GLDcoins, why did you give some away - Altruism or because you want people to associate value with it, since they now own some and stand to profit form its further adoption?

Besides being easy to mine, what is the advantage of mining GLDcoins?

How do you participate in GLDcoin?  Is there a forum? Do you vote on things?  What things have you directly impacted, and why did you think it was important enough to initiate change on?  Are there any things you feel should be changed about GLDcoin, what are they, why, and why hasn't it already happened?

Enough questions. Some people have faith, and some need proof and never run out of questions.

There are some things you cannot find an answer to.

I think everyone has answered your questions to the best of their ability,with candour, and that is what makes the GLD community different.
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May 25, 2013, 03:30:30 PM
 #165

I appreciate the attempts to answer this, and have follow-up questions.


For me it the transaction speed, seems very fast, faster than bitcoin.

Can you elaborate on this difference?  You say it seems very fast, why is that?

This is actually an alt. coin with huge potential. The network seems quite stable at the moment, with a reasonable difficulty structure and GLDcoin seems to be building up a dedicated following. Despite the pre-mine the total number of coins and the reward structure should provide some longevity. Congrats to GLDcoin - this one really is a gold rush!
I hope that development continues, its clearly partly built from feathercoin, as you can see when you encrypt the wallet in the current (1st) windows version compile.


I think that Goldcoin could be popular with the masses, over some of the other alt. crypto-currencies, purely due to its name.
Doing quite well on the coinchoose.com leader board as well presently. Cool

Current profitability of BTC 163%.

You like it because it's profitable to mine, as mentioned before that seems like the reason people would like it, but doesn't answer the question of why someone not mining and not speculating would want to use it.  

You like it because it is named  "gold" which makes people think its more valuable than something like "feather" - Do you think this is an advantage, or is it a marketing gimmick?  Does GLDcoin do anything to make it more like "gold" than any other cryptocurrency out there?

What are the reasons, besides being named "Gold" and being easy to mine when right now its hard to mine more popular alt-chains, that it is "building up a following"  - Is there anyone in this following besides Miners who gain from it being more lucrative to mine and speculators who think it will go up in value?   Does it offer any tangible differences in, say, the code, or the rules they codify?  Or is it just about the name and the ease of mining?  

Also, does anyone realize that making an agreement among early miners to not sell their mined coins is a classic example of collusion?  Supply side agreeing to not sell because it would increase the supply available to the market, when by keeping supply tight the price per unit sold will be higher than it otherwise should be?  Does anybody have a problem with that, or is it just standard practice as far as you're concerned?


In addition to the above, i'll be honest here, it's the first coin that I can mine with my single GPU that I feel like I have a say in what happens to it.

I also happen to like the name for what that is worth.

To date I have mined ~6,000 coins, purchased ~30,000 on cryptsy, pledged and or given away more than ~7000 coins.

I don't have $1000's or $10's of thousands of dollars to throw at a mining farm to mine bitcoin or even litecoin, that money is tied up in stocks, forex and physical silver, which I am not going to touch.

In addition I like the people that are involved with GoldCoin and I get to participate and see actual results from my contributions.

Others may feel differently, Others may have other reasons why, but for me the above is the absolute truth, take it or leave it.

Why should you have a say in what happens?  What do you bring to the table with this power?   Whose interest are you acting on behalf of?

Why do you like the name?  Does it have anything to do with reality, or do you think it is a good marketing choice that will make unsophisticated users more likely to trust it because they believe gold has value where feathers do not?

How much did you spend to buy 30,000 GLDcoins, how long did you mine for 6,000 GLDcoins, why did you give some away - Altruism or because you want people to associate value with it, since they now own some and stand to profit form its further adoption?

Besides being easy to mine, what is the advantage of mining GLDcoins?

How do you participate in GLDcoin?  Is there a forum? Do you vote on things?  What things have you directly impacted, and why did you think it was important enough to initiate change on?  Are there any things you feel should be changed about GLDcoin, what are they, why, and why hasn't it already happened?
I like it because it has a high profitability. I like it because of the word gold in it. I like it because when I look at my balance I don't see 0.000000001 numbers. The point is that I like it!
There was a profitability drop to ~40% that I noticed. Did i stop mining then? No!

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May 25, 2013, 03:34:25 PM
 #166

Curious: If you succeed and GLDcoin gets to be a dominant Alt-Chain, do you think the community will stay the same?

Again, I understand how it makes sense now.  But if you succeed, doesn't that fall apart?  Doesn't widespread adoption make that point moot?

The short term reasons are clear, I'm asking about the future of the coin.  Think 6 months out, two years ago - What is the reason at that point?


I fully understand your enquiry, but you cannot find certainty.  You tell me what BTC will be in 1 year.

Evolution will find its own reasons.

You are most welcome to join us : I cannot guaratee success, but I know that GLD is technically as good as most alts. After that it is the adoption and support which matters most.
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May 25, 2013, 03:34:38 PM
 #167

I appreciate the attempts to answer this, and have follow-up questions.

<snipped />



Great questions, I will try and be as eloquent as you in my answers


Can you elaborate on this difference?  You say it seems very fast, why is that?
Quote from: btciec
1) I do not have direct evidence of this, I shall have to do some tests and return to you with a straight answer.

Why should you have a say in what happens?  What do you bring to the table with this power?   Whose interest are you acting on behalf of?
Quote from: btciec
1) Perhaps I shouldn't, but I am going to put my 2 cents in where I think it matters and have something meaningful to add to the conversation.
2) Great question, I will have to ponder on this for a while.
3) My own and the communities.

Why do you like the name?  Does it have anything to do with reality, or do you think it is a good marketing choice that will make unsophisticated users more likely to trust it because they believe gold has value where feathers do not?
Quote from: btciec
1) esoteric question doesn't really matter, that is like asking why do you like the color blue, something about it tickles your fancy and you just do.
2) Yes I think it was an excellent marketing choice. Unsophisticated? to be fair this entire thing is an unregulated underground financial system. You pose an excellent question, this line of questioning needs to be thought through for when this does become mainstream.

How much did you spend to buy 30,000 GLDcoins, how long did you mine for 6,000 GLDcoins, why did you give some away - Altruism or because you want people to associate value with it, since they now own some and stand to profit form its further adoption?
Quote from: btciec
1) ~.50 bitcoin on it so far, I anticipate allocating up to 10 in total.
2) Mining 6000 gldcoins took me about 2 weeks or so off and on.
3) I gave them away because I think that they will be worth allot more in the future, let's not kid ourselves here, most of us on this board on not spending 10's (perhaps 100's now) of millions of dollars because we like to give our money away, we expect a return on our investment and a grand one at that (at least I do). In addition to the previous statement, I would also like to add that it feels really cool to be a part of a growing community, be it the BTC eco-system in general or GLD specifically, the Winkelvoss twins didn't put away 1MM bitcoins because they are going to give them away for free, they expect a huge return on their speculation as do most of us here.

Besides being easy to mine, what is the advantage of mining GLDcoins?
Quote from: btciec
1) It hasn't been raped yet by the guys with 10 servers running quad 7990's
2) very fast payout's on the first pool http://next.afraid.org, bad name I know, but it's growing on me...

How do you participate in GLDcoin?  Is there a forum? Do you vote on things?  What things have you directly impacted, and why did you think it was important enough to initiate change on?  Are there any things you feel should be changed about GLDcoin, what are they, why, and why hasn't it already happened?
Quote from: btciec
1) I participate by mining, offering help where I can to newcomers and offering sponsorships and giveaways.
2) Forum: http://www.gldcointalk.org/
3) We do not vote on items yet, but thanks that is a great idea
4) Impacts: I have added a node to the system with my dedicated server. MajorMax came to me asking that I add his node to my client, I researched the implications of such a request, decided he and his request was a good one and followed through with it, I then researched for myself how to do it on my own server and did so.
5) Changes: yes, I believe that we need to organize ourselves better, why? At this point it feels like working at a startup, everybody is doing everything that they can to get this thing off the ground

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May 25, 2013, 03:37:15 PM
 #168

Yes, you answered about the short term reasons why you want to be involved, and have no answers to the medium-long term reasons why someone not mining or buying at the very beginning would want to.

  • It's easy to mine compared to established coins
  • One person felt like the transaction confirmations were faster, declined to elaborate
  • Two people felt like the community was "good" and that they could influence things now
  • Several people really like the fact that the name has "GLD" in it, which makes them think people will trust it
  • Two people noted that since they were giving away coins, they were not in it for the profit - Did they give away all their coins?
  • One person thought I'm asking too many questions and that I should just trust it on faith

So.... That's it?  Not a single person wants to extol the advantages actually built into the code?  Nobody even can tell me what the advantages are?

Let me know if I missed anything, you guys seem really excited about the fact that you're invested and able to influence something you don't really know anything about or at least don't want to talk details on.  

At the end of the day, I don't care what you choose to invest in - But if you're telling other people they should also invest in it, these are the questions that need to be answered and it's clear nobody involved wants to do that.

Have a great day.

Edit: I see someone is going to answer my questions, thanks!

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May 25, 2013, 04:03:13 PM
 #169

So.... That's it?  Not a single person wants to extol the advantages actually built into the code?  Nobody even can tell me what the advantages are?

There aren't any other advantages other than transaction speed in the code.

Pretty much all alt-coins are clones of LiteCoin with some of the variables changed:
- block reward, the # of coins per block mined, really a useless stat in its basic form, since multiplying everything by 10 just means everyone has 10x more coins and the value of the individual coin goes down a factor 10. Block reward typically goes down with block count to ensure a fixed number of coins to be generated in the end.
- block target, the intended speed at which the blocks are found. The difficulty depends on the block target and the network hashrate. Fast block target means quick blocks (and more coins being mined) and fast confirmations of transactions. But the chance of splitting the blockchain (either by accident or maliciously) increases as well.
- Difficulty adjustment interval, how often the difficulty is adjusted. Basically this should be as fast as possible, since a too slow adjustment means that large changes in network hashrate can cause the block generation rate to deviate greatly from the block target.

Beyond these 3 points, most alt-coins offer nothing new. GLD included. There are some that introduce further changes, for example the change in hashing algorithm in YAC, which made it a CPU-only coin (for now, anyway). But even then, the coins are still very similar to BTC/LTC: with mining, a blockchain, a wallet-file, etc... and everything linked together through cryptography and large-scale hashing.

There are non-code aspects that can set a coin apart: Adaptation by merchants, active development and I guess the name as well. The main problem is that even BTC is not that widespread that it makes sense to compete for merchant acceptance. The main exception here is, I guess, Phenixcoin (PXC), which is a currency that was released by and can be used for a casino-website.

Right now, alt-coins are as useful as their value in BTC/LTC. One or two alt-coins may (and I stress *may*) "break out" and gain widespread attention in a few years, but for now, it's mostly just playmoney.

And that's my opinion on alt-coins Smiley It definitely also holds for GLD, as the code doesn't offer anything new other than changes to the basic variables, there doesn't seem to be much in active development. And while there have been a few more giveaways for GLD than for other coins, I don't think that's a very convincing reason to place GLD above coins like YAC, WDC, PXC, etc... in the alt-coin picking order.
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May 25, 2013, 04:08:30 PM
 #170

So.... That's it?  Not a single person wants to extol the advantages actually built into the code?  Nobody even can tell me what the advantages are?

There aren't any other advantages other than transaction speed in the code.

Pretty much all alt-coins are clones of LiteCoin with some of the variables changed:
- block reward, the # of coins per block mined, really a useless stat in its basic form, since multiplying everything by 10 just means everyone has 10x more coins and the value of the individual coin goes down a factor 10. Block reward typically goes down with block count to ensure a fixed number of coins to be generated in the end.
- block target, the intended speed at which the blocks are found. The difficulty depends on the block target and the network hashrate. Fast block target means quick blocks (and more coins being mined) and fast confirmations of transactions. But the chance of splitting the blockchain (either by accident or maliciously) increases as well.
- Difficulty adjustment interval, how often the difficulty is adjusted. Basically this should be as fast as possible, since a too slow adjustment means that large changes in network hashrate can cause the block generation rate to deviate greatly from the block target.

Beyond these 3 points, most alt-coins offer nothing new. GLD included. There are some that introduce further changes, for example the change in hashing algorithm in YAC, which made it a CPU-only coin (for now, anyway). But even then, the coins are still very similar to BTC/LTC: with mining, a blockchain, a wallet-file, etc... and everything linked together through cryptography and large-scale hashing.

There are non-code aspects that can set a coin apart: Adaptation by merchants, active development and I guess the name as well. The main problem is that even BTC is not that widespread that it makes sense to compete for merchant acceptance. The main exception here is, I guess, Phenixcoin (PXC), which is a currency that was released by and can be used for a casino-website.

Right now, alt-coins are as useful as their value in BTC/LTC. One or two alt-coins may (and I stress *may*) "break out" and gain widespread attention in a few years, but for now, it's mostly just playmoney.

And that's my opinion on alt-coins Smiley It definitely also holds for GLD, as the code doesn't offer anything new other than changes to the basic variables, there doesn't seem to be much in active development. And while there have been a few more giveaways for GLD than for other coins, I don't think that's a very convincing reason to place GLD above coins like YAC, WDC, PXC, etc... in the alt-coin picking order.

Good answer.  To simplify and summarize, buying or mining any alt-coin right now that is not a primary use chain is like buying a lottery ticket that might be worth a lot, and costs you very little relative to that potential return.   Is that right?

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May 25, 2013, 04:10:59 PM
 #171

WE ARE GOLDCOIN !!!
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May 25, 2013, 04:13:48 PM
 #172

WE ARE GOLDCOIN !!!

+1
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May 25, 2013, 04:18:00 PM
 #173

lol thanks guys, I heard that somewhere.  The question is, are you attempting to defraud people or have you just drunk the koolaid so facts don't matter?

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May 25, 2013, 04:19:45 PM
 #174

So.... That's it?  Not a single person wants to extol the advantages actually built into the code?  Nobody even can tell me what the advantages are?

There aren't any other advantages other than transaction speed in the code.

Pretty much all alt-coins are clones of LiteCoin with some of the variables changed:
- block reward, the # of coins per block mined, really a useless stat in its basic form, since multiplying everything by 10 just means everyone has 10x more coins and the value of the individual coin goes down a factor 10. Block reward typically goes down with block count to ensure a fixed number of coins to be generated in the end.
- block target, the intended speed at which the blocks are found. The difficulty depends on the block target and the network hashrate. Fast block target means quick blocks (and more coins being mined) and fast confirmations of transactions. But the chance of splitting the blockchain (either by accident or maliciously) increases as well.
- Difficulty adjustment interval, how often the difficulty is adjusted. Basically this should be as fast as possible, since a too slow adjustment means that large changes in network hashrate can cause the block generation rate to deviate greatly from the block target.

Beyond these 3 points, most alt-coins offer nothing new. GLD included. There are some that introduce further changes, for example the change in hashing algorithm in YAC, which made it a CPU-only coin (for now, anyway). But even then, the coins are still very similar to BTC/LTC: with mining, a blockchain, a wallet-file, etc... and everything linked together through cryptography and large-scale hashing.

There are non-code aspects that can set a coin apart: Adaptation by merchants, active development and I guess the name as well. The main problem is that even BTC is not that widespread that it makes sense to compete for merchant acceptance. The main exception here is, I guess, Phenixcoin (PXC), which is a currency that was released by and can be used for a casino-website.

Right now, alt-coins are as useful as their value in BTC/LTC. One or two alt-coins may (and I stress *may*) "break out" and gain widespread attention in a few years, but for now, it's mostly just playmoney.

And that's my opinion on alt-coins Smiley It definitely also holds for GLD, as the code doesn't offer anything new other than changes to the basic variables, there doesn't seem to be much in active development. And while there have been a few more giveaways for GLD than for other coins, I don't think that's a very convincing reason to place GLD above coins like YAC, WDC, PXC, etc... in the alt-coin picking order.

Good answer.  To simplify and summarize, buying or mining any alt-coin right now that is not a primary use chain is like buying a lottery ticket that might be worth a lot, and costs you very little relative to that potential return.   Is that right?

Others may disagree, but yes, I think so.

My "mining rig" is very poor, it does 140 KHash/s at scrypt, so I would never mine any established coin (BTC or LTC) at a profit. But I jumped in at the launch of several alt-coins just to see if I could grab some. I got in with GLD as one of the first and got many blocks in a short amount of time (low starting difficulty coupled with a slow retarget speed is a problem for many alt-coins, causing many blocks to be mined initially before difficulty adjusts). I gathered 73K GLD, gave a little bit of it away and then just ignored it for a while since not much seemed to be happening. Then trade picked up and GLD hit the Cryptsy exchange, so I sold my GLD for ~1 BTC in total. Not a huge profit, but nice for the effort it took (very little). Got very similar results with YAC. I have some other alt-coins that either didn't manage to trade or I started to late so only got small change.

Many miners will quickly calculate the profitability of an alt-coin (manually or with help of a site like coinchoose.com) to see what to mine. GLD currently has a higher profitability than Bitcoin or Litecoin, but as people switch over, it will even out. Once a coin hits an exchange, trading becomes mostly effortless and you'll see standard market-forces push it to profitability-parity with BTC/LTC. It's a matter of hopping on as soon as possible and cashing out before the others do.

Every coin that has hit an exchange recently has finally tanked in value. It may have bounced up and down a few times, but the final direction is always south: FTC, CNC, YAC, WDC, are all down. GLD is still in the bouncing up and down phase, you can make money by buying and selling at the right time. But with GLD not offering anything innovative over the other 4 coins I mentioned in this paragraph, I see it going down in the long run.
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May 25, 2013, 04:54:45 PM
 #175

lol thanks guys, I heard that somewhere.  The question is, are you attempting to defraud people or have you just drunk the koolaid so facts don't matter?
Honestly I'd mine goldcoin just for the sake of fun and learning something along the way Smiley

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May 25, 2013, 05:51:39 PM
 #176

lol thanks guys, I heard that somewhere.  The question is, are you attempting to defraud people or have you just drunk the koolaid so facts don't matter?

I can personally say emphatically that I am not out defraud anyone.

♫ This situation, which side are you on? Are you getting out? Are you dropping bombs? Have you heard of diplomatic resolve? ♫ How To Run A Cheap Full Bitcoin Node For $19 A Year ♫ If I knew where it was, I would take you there. There’s much more than this. ♫ Track Your Bitcoins Value
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May 25, 2013, 06:38:26 PM
 #177

lol thanks guys, I heard that somewhere.  The question is, are you attempting to defraud people or have you just drunk the koolaid so facts don't matter?


OK, you win. Facts don't matter.

Now I will at least be able to invest my time and money knowing that it is just for fun...
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May 25, 2013, 06:54:37 PM
 #178

lol thanks guys, I heard that somewhere.  The question is, are you attempting to defraud people or have you just drunk the koolaid so facts don't matter?

I can personally say emphatically that I am not out defraud anyone.

Do you hope to profit from your involvement in GDLcoin?  If the coin is destined to fail because it does not pass the bar to become a mainstream coin, or have any special advantages to make it a niche coin, by what other mechanism besides finding someone else willing to pay you more than your cost.

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May 25, 2013, 07:03:37 PM
 #179

lol thanks guys, I heard that somewhere.  The question is, are you attempting to defraud people or have you just drunk the koolaid so facts don't matter?

I can personally say emphatically that I am not out defraud anyone.

Do you hope to profit from your involvement in GDLcoin?  If the coin is destined to fail because it does not pass the bar to become a mainstream coin, or have any special advantages to make it a niche coin, by what other mechanism besides finding someone else willing to pay you more than your cost.


Yes and why are stating that it is destined to fail?
Are you invested in bitcoin or any alt-coins at all?
Do you expect a return on investment if so?
Did you/are you going to ask the same questions to the bitcoin and litecoin community?
Do you ask these questions to your stockbroker?

♫ This situation, which side are you on? Are you getting out? Are you dropping bombs? Have you heard of diplomatic resolve? ♫ How To Run A Cheap Full Bitcoin Node For $19 A Year ♫ If I knew where it was, I would take you there. There’s much more than this. ♫ Track Your Bitcoins Value
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May 25, 2013, 07:56:35 PM
 #180

someone want trade with me? I am searching for GLD.
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