[ANN] Iridium (IRD) - People are Power - Community build crypto

[KiparisD]

Just to echo what others have said: yes, the pool might lose some hash.  But the pool operator should understand its good for the coin long term, which is good for his fee.  Spreading the hash will make the coin network strong.  And having a dev-donation-fee will enable everything we are talking about (bounties and small dev incentive).

Remember, no one is talking about giving dev 0.5% of a pool's returns for free.  Dev will use some of it for bounty, and this dev has shown he works hard on the project.  If the dev stops working on it in future, then we find a new dev to send fee to.  And 0.5% is not enough to cause any dump.  

Those who want to support (like me, Alexey, others) will pay the higher fee.  Those who don't are more than welcome to go to lower-fee pools, it's okay, everyone has their own choice.

Fee 0.5% is not big fee, donating other thing - only your good deeds 

[garytheasshole]

To prevent dump the coin maybe it should be better to accept masternodes? People who have 1000s of IRD will cooperate to get masternodes and wont dump their coins.
Or are there any other options to prevent people from dump?

It would be next to impossible IMHO to implement masternodes with cryptonight. It just won't bend that way if you want to keep your anonymity and privacy.

[Za1n]

To prevent dump the coin maybe it should be better to accept masternodes? People who have 1000s of IRD will cooperate to get masternodes and wont dump their coins.
Or are there any other options to prevent people from dump?

The only option to prevent dumping is what some of the people above you already stated. There should be no rush to get IRD listed on an exchange. I said this a few weeks in this same thread and will say it again; this coin still has a lot of polishing to do before it is ready to be listed on an exchange.

I also agree with the sentiment that the people pushing the exchange issue just want to dump their early "pre-mine" coins and run. I say pre-mine in quotes because while it wasn't technically a pre-mine in the traditional sense, you did have very limited number of people mining it early on getting most of the blocks to themselves, it to me it is the equivalent of a pre-mine. Instead they should be helping donate to a fund that will pay various bounties to promote the coin, if the coin generates enough interest it will be a lot easier to get listed on a decent exchange something in the future.

[hmfundInD]

To prevent dump the coin maybe it should be better to accept masternodes? People who have 1000s of IRD will cooperate to get masternodes and wont dump their coins.
Or are there any other options to prevent people from dump?

It would be next to impossible IMHO to implement masternodes with cryptonight. It just won't bend that way if you want to keep your anonymity and privacy.

Once it hits an exchange, you cant stop anyone from selling or "dumping" their coins, if they want to sell. The only way to prevent people from dumping is if they want to hold because they believe the coin is more valuable than what they can get on the exchange

[Alexey Sukharev]

Maybe PoS then... Or Hybrid. To prevent dump. If miners will have interest to keep mined IRD, then they wont dump maybe.

[hmfundInD]

To prevent dump the coin maybe it should be better to accept masternodes? People who have 1000s of IRD will cooperate to get masternodes and wont dump their coins.
Or are there any other options to prevent people from dump?

The only option to prevent dumping is what some of the people above you already stated. There should be no rush to get IRD listed on an exchange. I said this a few weeks in this same thread and will say it again; this coin still has a lot of polishing to do before it is ready to be listed on an exchange.

I also agree with the sentiment that the people pushing the exchange issue just want to dump their early "pre-mine" coins and run. I say pre-mine in quotes because while it wasn't technically a pre-mine in the traditional sense, you did have very limited number of people mining it early on getting most of the blocks to themselves, it to me it is the equivalent of a pre-mine. Instead they should be helping donate to a fund that will pay various bounties to promote the coin, if the coin generates enough interest it will be a lot easier to get listed on a decent exchange something in the future.

Exactly! no rush to an exchange until we solve some of the issues regarding the coin and when there's community consensus

[garytheasshole]

Maybe PoS then... Or Hybrid. To prevent dump. If miners will have interest to keep mined IRD, then they wont dump maybe.

How are you going to stake when nobody has knowledge of the balance of any address? This is cryptonight people not your shitcoin forked from bitcoin core!

Shit like PoS and masternodes would only weaken the security and anonymity, count me out then if you want to experiment.

[TheKryptonian]

To prevent dump the coin maybe it should be better to accept masternodes? People who have 1000s of IRD will cooperate to get masternodes and wont dump their coins.
Or are there any other options to prevent people from dump?

It would be next to impossible IMHO to implement masternodes with cryptonight. It just won't bend that way if you want to keep your anonymity and privacy.

Once it hits an exchange, you cant stop anyone from selling or "dumping" their coins, if they want to sell. The only way to prevent people from dumping is if they want to hold because they believe the coin is more valuable than what they can get on the exchange

Lol yup.  You guys worry too much.  When it hits an exchange, there will be some dumping.  That's fine, it happens to every coin.  If you believe in this coin just ignore all the trading, no matter how low it goes.  Also, this is miles and MILES better than most coins out there precisely because there is no dev pre-mine.  Although there will be some early adopters with big holdings, it's nothing compared to scrypt coins etc. hitting exchanges.  This coin will survive the wave of crazy early trading if you just ignore it and focus on community instead of turning it into a war of words with dumpers.  So stop worrying so much about PoS/MN etc.

Personally I don't care about the exchange issue, but at least consider the other side's perspective: there are a lot of people who don't mine, but want to invest.  Shouldn't they be given a chance to get in?  A coin needs non-miners willing to invest, otherwise it's just pointless.  If some people are dumping early, then early investors are getting a deserved discount.

Again, you can come out either way on this issue, but at least consider both sides seriously.

[Alexey Sukharev]

Sorry for being noob. 
Any working method to prevent dumping? Not to hurry with exchanges?

[Windozxpert]

To prevent dump the coin maybe it should be better to accept masternodes? People who have 1000s of IRD will cooperate to get masternodes and wont dump their coins.
Or are there any other options to prevent people from dump?

It would be next to impossible IMHO to implement masternodes with cryptonight. It just won't bend that way if you want to keep your anonymity and privacy.

Once it hits an exchange, you cant stop anyone from selling or "dumping" their coins, if they want to sell. The only way to prevent people from dumping is if they want to hold because they believe the coin is more valuable than what they can get on the exchange

Lol yup.  You guys worry too much.  When it hits an exchange, there will be some dumping.  That's fine, it happens to every coin.  If you believe in this coin just ignore all the trading, no matter how low it goes.  Also, this is miles and MILES better than most coins out there precisely because there is no dev pre-mine.  Although there will be some early adopters with big holdings, it's nothing compared to scrypt coins etc. hitting exchanges.  This coin will survive the wave of crazy early trading if you just ignore it and focus on community instead of turning it into a war of words with dumpers.  So stop worrying so much about PoS/MN etc.

Personally I don't care about the exchange issue, but at least consider the other side's perspective: there are a lot of people who don't mine, but want to invest.  Shouldn't they be given a chance to get in?  A coin needs non-miners willing to invest, otherwise it's just pointless.  If some people are dumping early, then early investors are getting a deserved discount.

Again, you can come out either way on this issue, but at least consider both sides seriously.

Very good points indeed.

[Windozxpert]

Sorry for being noob.  
Any working method to prevent dumping? Not to hurry with exchanges?

No way to prevent dumping. As mentioned before, it happens with all coins. The question of the coins' value is truly tested after the early trading ends. Which is why a lot of people here are more interested in getting it more developed before it goes on the exchange. Stronger roots = stronger tree.

[garytheasshole]

Sorry for being noob.  
Any working method to prevent dumping? Not to hurry with exchanges?

No way to prevent dumping. As mentioned before, it happens with all coins. The question of the coins' value is truly tested after the early trading ends. Which is why a lot of people here are more interested in getting it more developed before it goes on the exchange. Stronger roots = stronger tree.

Best aspects this coin has are the low supply, significantly reduced block rewards in a year and proven anonymity, a real world use for this coin would be to provide anonymization/mixing services for people that require high level of privacy. But really need a lightweight and mobile wallet first.

[pinball_wizard]

Sorry for being noob.  
Any working method to prevent dumping? Not to hurry with exchanges?

No way to prevent dumping. As mentioned before, it happens with all coins. The question of the coins' value is truly tested after the early trading ends. Which is why a lot of people here are more interested in getting it more developed before it goes on the exchange. Stronger roots = stronger tree.

Good point...If I see potential in a coin I won't dump it...we have to give some feature on Iridium that makes it a desirable coin so...no miners come aboard...paying to have the coins...

[pinball_wizard]

Anyway I have no particular critics to the dev..they had some problems with mining at beginning but they recovered quickly, he's responsive and this is a big plus...many dev disappear...maybe we have to make other devs jump aboard to help him, and we have to collaborate with him to get some unique ideas for Iridium

[Windozxpert]

Sorry for being noob.  
Any working method to prevent dumping? Not to hurry with exchanges?

No way to prevent dumping. As mentioned before, it happens with all coins. The question of the coins' value is truly tested after the early trading ends. Which is why a lot of people here are more interested in getting it more developed before it goes on the exchange. Stronger roots = stronger tree.

Best aspects this coin has are the low supply, significantly reduced block rewards in a year and proven anonymity, a real world use for this coin would be to provide anonymization/mixing services for people that require high level of privacy. But really need a lightweight and mobile wallet first.

Wouldn't the reduced block reward after a year be a negative thing? Discouraging miners to support it after that year?

[garytheasshole]

Sorry for being noob.  
Any working method to prevent dumping? Not to hurry with exchanges?

No way to prevent dumping. As mentioned before, it happens with all coins. The question of the coins' value is truly tested after the early trading ends. Which is why a lot of people here are more interested in getting it more developed before it goes on the exchange. Stronger roots = stronger tree.

Best aspects this coin has are the low supply, significantly reduced block rewards in a year and proven anonymity, a real world use for this coin would be to provide anonymization/mixing services for people that require high level of privacy. But really need a lightweight and mobile wallet first.

Wouldn't the reduced block reward after a year be a negative thing? Discouraging miners to support it after that year?

If there is demand, the price will adjust, look at monero.

[danspasiva]

There are a lot of things which are good about this project.

1.  The dev is here talking with us
2.  The community already showed its willing to help out to a certain extent but need a lot more of this.
3.  Low suppy
4.  Nice wallet.

I think that the project needs to have its future plans laid out for everyone to see, because until then its simply just a low supply cryptonight coin that nobody knows anything about.

Once this happens the community will be able to decide if they are truly interested in this project and want to contribute more.

If the vision for its future is solid, im sure the community will grow, hashpower will grow, and we can get the ball rolling.

Until then why don't we come up with some ideas of where this coin can go?

[Windozxpert]

Sorry for being noob.  
Any working method to prevent dumping? Not to hurry with exchanges?

No way to prevent dumping. As mentioned before, it happens with all coins. The question of the coins' value is truly tested after the early trading ends. Which is why a lot of people here are more interested in getting it more developed before it goes on the exchange. Stronger roots = stronger tree.

Best aspects this coin has are the low supply, significantly reduced block rewards in a year and proven anonymity, a real world use for this coin would be to provide anonymization/mixing services for people that require high level of privacy. But really need a lightweight and mobile wallet first.

Wouldn't the reduced block reward after a year be a negative thing? Discouraging miners to support it after that year?

If there is demand, the price will adjust, look at monero.

True. But IRD doesn't have botnets and showtime.com using unknowing PCs mining it...yet. Not that that had anything to do with anything, I just wanted to mention it. I thought it was hilarious when I read that article.

[SyrioForElle]

There are a lot of things which are good about this project.

1.  The dev is here talking with us
2.  The community already showed its willing to help out to a certain extent but need a lot more of this.
3.  Low suppy
4.  Nice wallet.

I think that the project needs to have its future plans laid out for everyone to see, because until then its simply just a low supply cryptonight coin that nobody knows anything about.

Once this happens the community will be able to decide if they are truly interested in this project and want to contribute more.

If the vision for its future is solid, im sure the community will grow, hashpower will grow, and we can get the ball rolling.

Until then why don't we come up with some ideas of where this coin can go?

You can add "no pre-mine" to the list.

[iridiumdev]

Wow, all this activity and support... Thanks so much guys! It really means a lot to see the community come together like this, I can really see the future being bright! With website development, whitepaper and exchanges in progress we'll be running at a faster pace in the next coming days!
Thanks for all the support!