Ixcoin TODO

[markm]

The problem with IXcoin is it is high difficulty.

For the person who upgraded I0Coin, it seems likely that the best coins to upgrade first would be the ones that have low difficulty, because those can be mined easily so it should take less time to rack up a nice enough hoard of them to make increasing their value by upgrading their code more attractive sooner.

It is actually a pity therefore that GRouPcoin got picked up by bitparking along with I0Coin, because of coruse its difficulty went up, and we don't know whether the person doing the awesome upgrading managed to mine lots of GRouPcoin thus has a nice stake in them to make upgrading them look attractive.

Last I heard GeistGeld was beign considered for next upgrade, ostensibly because of course it needs upgrading at least as much as I0Coin did and probably more. But also it is very very easy to mine, so also it is easy to pick up a nice stash of it while upgrading it.

Of course CoiLedCoin is also still very low difficulty too, so it would make sense to me that by the time GeistGeld is upgraded the person doing the upgrades should have lots of CoiLedCoin too thus some incentive to upgrade that too.

Then maybe holders of other merged coins might be able to provide incentive for upgrading them too even though they are hard to get a stash of by mining them maybe a stash of them could be obtained in the form of bounties for upgrading them?

How much is it worth to Ixcoin users/holders to have Ixcoin upgraded?

-MarkM-

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[Vlad2Vlad]

That's a good question.  I wouldn't mind paying something but it would have to be a group effort. 

[ahmed_bodi]

once i've finished testing this bytecoin merged mining patch on the bitcoin/bytecoin testnet's ill give a share of my bytecoins to have the ixcoin clients updated

[Vlad2Vlad]

The value of an IXC is still around 1 cent. Not much, only happy that is worth more then a Ripple. Going on this way it should be 2 cents at the beginning of November.
There are new startups which are going to increase the circulation of altcoins, such as coinx.com and bitblu.com, both are going alive only with a selected number of beta testers in october.
The more they are, the merrier.

1 cent?  It was half a cent when I was accumulating.  So that means its doubled.  Sweeeet.

I didn't know Ripple was that cheap.  I may buy some on the off chance Google will pump millions into it.  But where does one buy ripple from, I don't see it on the exchanges I'm on.  TIA.

P.S.  have you bought any COL?  Looks like that thing is gonna get hyped hardcore in here next few weeks.  Just a feeling I have.

[bibbit]

I didn't know Ripple was that cheap.  I may buy some on the off chance Google will pump millions into it.  But where does one buy ripple from, I don't see it on the exchanges I'm on. 

Kraken.com said that they should be selling XRP by the end of the month. Kraken was trading XRP during their beta period. If you can wait, that is a low hassle way to get some.

Bitstamp currently sells XRP. However, the price available through their web interface is sometimes inflated. I moved only as much XRP into my ripple account as I needed to fund it and then withdrew Bitcoins into my ripple account. After that, I converted my BTC into XRP on the open market within ripple.

• Create a ripple wallet at https://ripple.com/client
  
• Deposit bitcoins into your Bitstamp account
  
• Trade bitcoins to get enough USD to buy 76-100 XRP (50 to fund the ripple account, 12.5 for line of trust to Bitstamp, 12.5 for a second line of trust if desired and some additional XRP for transactions)
  
• Buy 76-100 XRP and send it to your ripple account to fund it (on the Buy Ripples entry on the Buy/Sell tab)
  
• Extend trust to Bitstamp for BTC (there is a "trust this address" link on the Bitstamp Withdraw tab, Ripple entry)
  
• Withdraw your bitcoins to ripple (Withdraw tab, Ripple entry)
  
• In the ripple client, click on Send and send XRP to yourself. Currently, 100 XRP costs 0.00497863 BTC. If you are curious, you can see the order book at Advanced->Trade->XRP/BTC dropdown->change issuer for BTC to Bitstamp->Order Book. However, just buying XRP by clicking the Send button is quick and easy if you don't want to deal with the trading interface.
  

I hope that helps. Enjoy!

[rsnel]

rsnel, GeistGeld is getting to need over 16 gigs of RAM or thereabouts, would you be able to upgrade it with I0Coin's nice new stuff so that all of a suddent it too will fit in little RAM and thus be accessible to many more people? There would be a lot of XGG in it for you if you can because the more RAM it takes the less people left who have enough RAM to run it, its difficulty is thus pretty darn low. So you can pick up oodles of them easy and likely improve their value a lot by doing such an update.

I did the 'dirty fix' on geistgeld (which I did on I0coin, before I developed a clean fix). I have removed auxpows from the blockindex. The client now uses about 550MB.

It breaks:

• integrity checking of auxpows while loading the blockindex from disk at startup
• getheaders (which is not used by Satoshi clients)

The code is not recommended, but it seems to work just fine. The 'on disk' format of the database is different, you must rebuild the blockindex if you switch between this version and the original geistgeld.

http://github.com/rsnel/geistgeld/

[Vlad2Vlad]

Anybody else think it's odd that ixCoin was trading at 22,000 per BTC when BTC bottomed at around $68 a couple months ago and now with BTC at $140 ixCoin is actually higher, not lower, at roughly 15,000 ixCoin per Bitcoin?

Normally you'd think as BTC goes up so do all the other alts but if you look around everyone is complaining of losing as much as 90% and this is the case with most coins out there - as BTC doubled in price all the other alt coins greatly dropped in price, not by just 50% but closer to 70%-90%.

So why or how did ixCoin retain its value, and actually increased some 30% relative to Bitcoin?

It's not accumulation as I have yet to find just one other guy who's accumulating like me.

And it's not the huge spike in hashing power cause other coins like devcoin have seen the same spike in hashrate.

And it's not being pumped by anyone and there's no sudden spike like a pump and dump but rather a sustained increase in value.

So then, what is happening here with ixCoin, it doesn't make sense?

Anyone?

[Vlad2Vlad]

Today a new record for Ixcoin: difficulty 25M, mining 250k


Ixcoin   161025   25,508,545.8219   251,071.2648

Deadsea, are you accumulating ixCoin yet?  I feel time is running out.  

I'm now trying to add some more but it really does take a long time to buy even 100,000 ixCoins.  Kinda odd for a coin nobody wants which is supposedly being dumped by merged miners.

I have NOT been able to find EVEN ONE GUY on Cryptsy who has bought any ixCoin (other than the couple guys I was able to convince to buy a decent amount).   That is strange, as all coins on there are being traded or bought.  

And when I asked around the only 2 consistent answers I got were:  a) "What, ixCoin trades on Cryptsy?  But why would you want that coin, there's nothing there?"

Or...

b) "What, ixCoin is dead man!"

And when I tell them it's not dead, cause, you know, it's right there trading on their screens, and I explain to them my whole ETF 2.0 theory, they all scream things like: "Don't fall for this guy's lies, ixCoin is dead!"

Man, this is shocking behavior to me.  Last night I offered a total stranger a deal.  He didn't want to touch ixCoin and acted like I was trying to pump it so I wanted to show him I was not a scammer.  I offered to pay half of a 5,000 ixCoin purchase if he only promised that he would never sell it unless it got to at least $5.

Guess what his response was?

  "No, thanks!"

What?  I have never seen anything like this since I've been around Cryptos, for the last 4 months.  No one on this planet wants ixCoin even if you offer it for free?  I'm so confused about this but I also think this is very telling, ixCoin is an ideal and perfect contrarian play.

Lol, at least if it were really dead but ixCoin has never died, NOT EVER.  I feel like I'm taking crazy pills, man, I'm either certifiably nuts here or everyone else is blind, stupid and crazy.  

Kind of scary, either way.

But I'm sticking to my convictions as long as it all makes sense and I will keep buying ixCoin.  Hoping to get to 2% now.


Good luck bro, and I hope I'm not the crazy one here cause ixCoin makes way too much sense to me, more sense than any other coin out there, BY FAR.

[CYPER]

IXC might not be technically dead, but in reality it is, because there is zero interest in it at the moment.

[markm]

It is worth so little that there really isn't much point firing up an Ixcoin daemon and waiting for it to catch up with the blockchain in order to sell one's huge hoard of them for a fraction of a bitcoin.

Until one's hoard is worth several bitcoins at least it seems more of a thing to just let build up a few more years as a side effect of (merged) mining bitcoins; maybe in a few more years, if one has enough hashing power, one's accumulated stash might be a sum worth firing up the deamon to get at.

Nice long-term savings, in other words, like collecting small change for years against some possible future need for lots and lots of small change.

So it is far from dead, look at its difficulty to see that. It is simply being used as a long-term store of lots of tiny bits of value for now.

Until one has a nice sized stash, why would one want to make it harder to acquire by making apparent one's interest in it? Wouldn't it be a better long term strategy to accumulate it in as low-profile a way as possible so that one can have a nice stash by the time it does enter the limelight?

Also remember that I0Coin only recently got added back onto bitparking's mmpool and the Vircurex exchange, for a long time I0Coin was a much much more interesting coin than Ixcoin because you didn't need a super-massive mining farm to mine it, compared to the amount of Ixcoin one was getting at the same time in the same merging of merged-mine-able coins. Ixcoin is for the big boys, who actually get blocks of it on a more than "I won the lottery" kind of basis. The interesting coins for smaller miners were I0Coin, GRouPcoin, CoiLedCoin and GeistGeld. Even now that I0Coin is well on its way back to being a coin for the big miners, there are still three nice low difficulty coins the big boys are still leaving on the table...

-MarkM-

[Vlad2Vlad]

Man, I done opened my huge mouth on Cryptsy and I ended up paying 9802 for about 45,000 coins tonight.

As if that wasn't bad enough, the price is now 14367.   That's it, until I get my fill I'm keeping my trap shut.

Hopefully this is temporary and the price will go back down.

[Vlad2Vlad]

New sharks in the bay. And IXC today has reached the equivalent value of 1 EUR cent.

I brought these sharks in and now I can't buy anymore cheap ixCoin.  Lol.

I should't say that.  They're all guys I met on Cryptsy and I wanted to help them out.  Hopefully ixCoin wasn't bad advice.

But can somebody answer this for me:



Like 16 million IXC coins out. Merge mined, 96 coins per block. I popped the price today 30% with only 5 BTC, and some guy doubled the price with way less.

Now other coins, like DGC, way more popular, half the coins out so only about 8.5 million. 50 BTC order for 2 days straight and it's up maybe 20% but drops back down to 1600 daily. What's the deal with ixCoin? Why is it so hard to accumulate and why does it go up so easily?

I mean, ixCoin is behaving like a coin with no float and no seller but it should have plenty of both.  It feels so would up when I try to buy it that I feel like I could make it go up 10-fold if I had 50 BTC to spend.


Can anybody add any color here?  TIA.

[markm]

It is hard to accumulate because it has such high difficulty (because it is merged mined).

I started mining it years ago on bitparking's mmpool with two 5870's, lost one of the GPUs, later got another, and eventually set up my own p2pool to merged mine, yet still I do not have enough to consider bothering to part with them for the puny amount of bitcoin I'd get for my entire hoard. It will take more years of occassionally lucking into a block, or a big increase in price, to make it worth my while to bother digging them out to sell them.

Plus the first twenty thousand or so of them that I got went into cold storage to back dIXC tokens on my Open Transactions server so unless I plan on not supporting IXCoin on my Open Transactions server anymore there'd be all the hassle of getting back and un-issuing all the dIXC on the server if I did decide to dig them back out to sell the actual on-blockchain coins that the dIXC tokens on the server represent.

-MarkM-

[Vlad2Vlad]

Ok, but the hashrate is also very high and there's 96 coins per block so tons of new coins are merge mined daily and since most people are not after ixCoin but Bitcoin I thought they'd dump them for anything they can get which should push the price lower everyday, which just has not been happening, at all.

That's what I'm seeing with other merge mined coins, so why isn't that happening here?  I don't think it's the miners hoarding them, I can't find anyone who cares about ixCoin so I'm not sure what to think.

There's enough supply coming out of merge mining but it doesn't seem to come to the exchanges which doesn't make sense since nobody out there seems to want ixCoin.

[Vlad2Vlad]

Hi,
I am not buying ixcoin using bitcoin at the moment. It is not me. I can see from alexa that there are more then 200 people visiting ixcoin.org every day. It seems we have silent fans here.

What's the daily visitor number now?  I checked Alexa but don't see any daily visitor stats.  

Thanks.


Edit:

StatsCrop shows 416 visitors per say.  Not bad, doubled, even though nobody knows about ixCoin and nobody seems to want to own it. 

[markm]

Ok, but the hashrate is also very high and there's 96 coins per block so tons of new coins are merge mined daily and since most people are not after ixCoin but Bitcoin I thought they'd dump them for anything they can get which should push the price lower everyday, which just has not been happening, at all.

That's what I'm seeing with other merge mined coins, so why isn't that happening here?  I don't think it's the miners hoarding them, I can't find anyone who cares about ixCoin so I'm not sure what to think.

There's enough supply coming out of merge mining but it doesn't seem to come to the exchanges which doesn't make sense since nobody out there seems to want ixCoin.

They don't care enough about such a tiny amount of potential money to bother taking it to exhanges, maybe? Remember a lot of people mine on merged mining pools that include Ixcoin in their merge, so a lot of people are getting some Ixcoin, so the total number of Ixcoins mined per day is divided up among a lot of people. For me it has taken years of merged mining to get a small hoard of Ixcoins that is still worth so little bitcoin that there is not really much/any temptation to go cash it in right now. If I get so broke sometime in the next few years that I desperately need that trivial amount of capital then maybe I would dig them up to sell, but right now I have food clothing and shelter and it is not really enough capital yet to go do any serious investing with so to heck with it, if it skyrockets in value maybe it will be worth digging out, or if my hoard gets big enough over the years or decades to become worth a decent amount maybe then...

Or like you maybe they think it is crazy-low in value right now so crazy to part with it at such crazy-low prices?

Heck even litecoin is worth well over a buck a coin, so maybe might as well just forget about any coin until it goes over a buck a coin, as even just a buck a coin would be a nice increase over the pathetic prices most coins are fetching these days...

-MarkM-

[Vlad2Vlad]

I got the feeling we have our feet in the shallow waters preceding the tsunami. It's coming. The first wave, bitcoin, will be followed by the rest of altcoins, some with remarkable waves, others with irrelevant ones.
No matter what, it's coming.

I totally agree.  There is a monster tsunami coming and nobody knows the destruction and change it will bring.

Many will lose everything but some will stand to make life changing money.  I'm excited to see what will happen even if I end up being dead wrong about Bitcoin's ETF, the $1,000+ Bitcoin price or ixCoin.

This kind of global change doesn't happen but once per lifetime and sometimes not even that.  I'm thrilled to watch it unveil.

[Vlad2Vlad]

@MarkM,

I totally agree.  Litecoin offers little yet it's almost $3.  It's only a matter of time before other coins go to $3 and higher.  That's why most of the coins I have bought I will not sell for a double or even more.  I'm gonna wait to see what unfolds over the next 12 months cause I think it's gonna be huge.

BTW, I'm curious, what would you consider a small hoard of ixCoin?  I cannot find people buying or hoarding it so I have no point of relativity to know where I stand with what I own.  

I'm now at nearly 400,000 ixCoin, which cost me around 30 BTC.


Thanks.

[markm]

I am not sure how many I really have, I just checked the issues clerk's notes of how many of each digitoken were issued onto the Digitalis Open Transactions Server and is says only 10,000 dIXC were issued so I guess I didn't issue some 20k or so afterall so likely I had some 20k or so and only issued half of them onto the server.

I am pretty sure though that even if I somehow have accumulated enough to be able to sell all of them plus the 10k on the server I'd be lucky to get 5 bitcoins for the lot, and sure as heck nowhere near 10 bitcoins at current prices. ince even just a KnC Jupiter would cost somewhere up near 30 (and might not ROI but that's a whole 'nother story) what would I even buy with even 10 bitcoins nowadays, let alone 5 ?

Then suppose the iPhone and Android clients for Open Transactions do finally come out and it turns out 10,000 dIXC isn't fat enough of a transactions-pipe to carry the load of transactions-involving-dIXC? So maybe I should hold some a while yet just in case I need to issue more dIXC once the masses start actually using Open Transactions?

-MarkM-

[Vlad2Vlad]

I am not sure how many I really have, I just checked the issues clerk's notes of how many of each digitoken were issued onto the Digitalis Open Transactions Server and is says only 10,000 dIXC were issued so I guess I didn't issue some 20k or so afterall so likely I had some 20k or so and only issued half of them onto the server.

I am pretty sure though that even if I somehow have accumulated enough to be able to sell all of them plus the 10k on the server I'd be lucky to get 5 bitcoins for the lot, and sure as heck nowhere near 10 bitcoins at current prices. ince even just a KnC Jupiter would cost somewhere up near 30 (and might not ROI but that's a whole 'nother story) what would I even buy with even 10 bitcoins nowadays, let alone 5 ?

Then suppose the iPhone and Android clients for Open Transactions do finally come out and it turns out 10,000 dIXC isn't fat enough of a transactions-pipe to carry the load of transactions-involving-dIXC? So maybe I should hold some a while yet just in case I need to issue more dIXC once the masses start actually using Open Transactions?

-MarkM-

Wait a minute, what?

What is this pipe and open transactions thing?  I never knew there was another way for these coins to make it to mainstream.  So there's some backdoor to a higher valuation?

HOW Does that work?

And Can you tell me if there is a technological difference between ixCoin and all other coins out there?  Is there anything that sets it apart on that end? Or something unique that gives it an advantage?  Because I don't understand any of it.

Thank you!