Ixcoin TODO

[markm]

Unfortunately it seems likely that if they go the bankruptcy route the thieves known as "trustees" will steal all our IXCoins and dump them at auction or whatever, at lower prices than we were actually demanding for our IXCoins, instead of simply giving us our share of the specific types of coins we had chosen to be in possession of.

Also they will probably penalise the holders of all coins instead of just the holders of the specific types of coins that were stolen.

So not only will they probably steal our IXCoins to bail out the holders of bitcoins and litecoins, they will probably also forced-sell our IXCoins at prices lower than we asked for them, even lower than we actually paid for them.

In addition to also stealing the bitcoins we paid for them so that we won't even be able to buy them wherever they do dump them even if we happened to have accounts wherever that turns out to be, because they are also holding the bitcoins that constitute the "treasury" that was "backing" IXCoins ensuring there were indeed bitcoins there to buy them.

-MarkM-

[Vlad2Vlad]

If you want, a poll:

How many IXCoin do you have trapped in Cryptsy?

https://bitcointalk.org/index.php?topic=1329315.new#new

22,000,000.  Hahaha.

[JPred]

Any idea how we can come out from this dead end?

Coins are:
- trapped in Cryptsy
- collected daily from Cex's customers
- forgotten in old accounts
- frozen in cold wallets

I say we wait for now till:

- trapped coins get freed
- collected ones gets recollected [distributed] somewhere else
- forgotten ones are remembered once more
- the frozen thaw

[Vlad2Vlad]

I say we wait for now till:

- trapped coins get freed
- collected ones gets recollected [distributed] somewhere else
- forgotten ones are remembered once more
- the frozen thaw

That could take a year or more.

There must be another solution.

[Nasakiotoes]

[Vlad2Vlad]

If I were an early Bitcoin adopter I would find some way to fix cryptsy, for the crypto community and Bitcoin's image, if not for profits.  I'm amazed how there is not one early adopter [with sufficient inertia] that can pull people and funds together in times of need.  $5,000,000 is really not that much if you consider the massive Bitcoin holders out there.  

Tragic!

[shanem]

I can't believe that Cryptsy is now closed. One or two years ago, Cryptsy was one of the biggest and leading exchanges for altcoins. Now poloniex is the leading one with the most volume.

[publicjud]

Still no Ixcoin exchange?

[Vlad2Vlad]

Quotation from Cinnamon's post:
"If you want to burn ix coins make an alt coin like the one bitcoin has called counterparty.
I would not object to that."

Talking to Vlad, maybe there is a different possibility. Generate an alt coin out of ixcoin, let's call it ixc2.0
Theoretical idea:
Imagine that a certain amount (e.g. 1000 ixc2.0) of ixc2.0 is generated every time ixc generates a block (~10 minutes)
How is the distribution made?
Every person making a tx during that 10 minutes will get a share of that 1000 ixc2.0. E.g.: 500 txs are made, 1000/500=2 -> every ixc tx will get 2 ixc2.0.
This means the wallet will handle 2 amounts: ixc and generated ixc2.0.
Miners will get ixc fee for the 500 txs.
This will incentivate the use of ixc.
Everyone will have the potential to get ixc2.0, with potential fair distribution
Once we get 210 million ixc2.0, the generation will be slower, for a total 5% inflation/year.
All the times a tx with ixc2.0 is made, a very tiny fee is applied, 50% of which will be burned to compensate the inflation.
I wonder if ixc2.0 could be a sort of ripple, made for small payments.
Ripple (centralised) would like to handle decentralised coins.
Would it be possible and practical to do the opposite? To use a decentralised coin like ixc to validate a ripple-like coin?

Word to the devs....

I personally like this idea.  But I'm wondering if this would eliminate IXC as a potential sidechain candidate.

Cinnamon...

[Vlad2Vlad]

Still no Ixcoin exchange?

No, not yet. Apologies.

[BitcoinNational]

cryptopia
500k DOT pm Hex to get it done

[Vlad2Vlad]

cryptopia
500k DOT pm Hex to get it done

What?  They want 500k IXC?  If hat's the case that's not gonna happen. 

[BitcoinNational]

wild idea
create your own Exchange on ixcoin.info

start with just BTC (copy the shapeshift model) once you get that working focus on Nubits/Ix automatic exchange ... aka a fiat market.

[markm]

The problem is there is no reliable free open source exchange software as far as I know.

The closest thing to something that looked like we might be able to get it working was a gateway onto HORIZON (a NXT clone) that would basically issue and redeen digiIXC tokens on HORIZON for trading on their distributed asset markets.

-MarkM-

[JPred]

It might just be a workable solution.

The problem is there is no reliable free open source exchange software as far as I know.

The closest thing to something that looked like we might be able to get it working was a gateway onto HORIZON (a NXT clone) that would basically issue and redeen digiIXC tokens on HORIZON for trading on their distributed asset markets.

-MarkM-

[Vlad2Vlad]

It's PGP Time:

iXcoin Creators:

Hahaha, kinda like hammer time. 

I hit'em both up.  Maybe we'll get lucky!

[Nasakiotoes]

Rummor mill

just to let you know if you missed that, cryptsy has started allowing the withdrawal of some altcoins and they will add more coins for withdrawing soon.
I have withdrawn my DMC within minutes.

[Vlad2Vlad]

Rummor mill

Thx.  Checked yesterday and it was locked up.  Poor net here but I'll check tomorrow.  I've given up hope so that the dissapointment wouldn't crush my fragile ego completely. 

[Nasakiotoes]

Hey deadsea, what is the status regarding your proposals?

[Vlad2Vlad]

Hey deadsea, what is the status regarding your proposals?

It's been totally dead on all fronts.  Feels like a total blackout.

Quiet before the storm or dead coin walking?