Ixcoin TODO

[Vlad2Vlad]

Sometimes on the web you can read about people who spent bitcoin to buy good in the early stage of the coin, like the one who paid 10.000 btc for 25 bucks of pizza. But this is the point: even when the value was very low, under 1 cent, people was already trading and spending using bitcoin.
Furthermore, in two years there will be about 500 different virtual coins alive, plus coins created by huge groups like google and amazon, not counting virtual money created by the same countries which are afraid of crypto-currency now.
I see people are buying this coin, let's supposed, on average, a person buy 2% of this coin. It means this coin will be in the hands of 50 people. The coin will be practically dead: no circulation possible.
The lasting of a low price of IXC for other 6 months will seal its death. It has to jump up to 5-10 cent within 3-4 months, this is its only chance to survive.

I've been saying from the begining (3 months ago) we'll soon see 300 coins and then 3,000.

Everyone will want one cause its easy and you're not selling a product yet with a good name you can make a cool $1 billion.  It's unheard of.

Yes, if people don't circulate ixCoin it will die but by the same token, there won't be any available for sale so if for some reason anyone wants ixCoin, like say an alt coin ETF basket, ixCoin will go to $100, where otherwise it might have only gone to $5.

It's always good to buy something of which they will no longer make anymore of, like land. Limited commodities.  In this case it's a worthless fiat so the risk is higher but a similar concept applies.

Like I said, for risking $500, or $1,000, which can't get you anything in stocks, this is a no-brainer to me.

And the founder comes back, right,  but utter silence?  Does that make sense for someone trying to revive a coin?  No, and when something makes no sense then something is up.  He's most likely accumulating - buying a few million ixCoin is not easy.  I barely added 120,000 ixCoin and I had to boost the nod from 26,000 per BTC to 17,000.  That's a huge increase.  I got restless but if you're patient you'll get pool miners regularly dumping at the lower price.  I just wanted to make sure I had a large chunk in case my timing was off.  I hope to buy more at a slower pace.

[markm]

It is cheap right now because people get it "free" with their bitcoins namecoins and devcoins when they mine at bitparking's merged mining pool.

But if bitparking and who-ever else is securing its chain keep on mining it once it no longer mints coins, all of a sudden the "free" Ixcoins supply will drop to a trickle, the transaction fees. Hopefully people who have been hoarding it all these years will see the value in continuing to secure the chain in order to secure their hoard, so it could get interesting.

Also bear in mind that for most people ASICs are not really here yet, so lots of people who have all along intended to secure the merged mined chains have kept putting off doing so because they didn't want to spend money on GPUs or FPGAs while BFL's ASICs were due to arrive in only two more weeks...

-MarkM-

[jubalix]

It is cheap right now because people get it "free" with their bitcoins namecoins and devcoins when they mine at bitparking's merged mining pool.

But if bitparking and who-ever else is securing its chain keep on mining it once it no longer mints coins, all of a sudden the "free" Ixcoins supply will drop to a trickle, the transaction fees. Hopefully people who have been hoarding it all these years will see the value in continuing to secure the chain in order to secure their hoard, so it could get interesting.

Also bear in midn that for most people ASICs are not really here yet, so lots of people who have all along intended to secure the merged mined chains have kep putting off doing so because they didn't want to spend money on GPUs or FPGAs while BFL's ASICs were due to arrive in only two more weeks...

-MarkM-

this is an interesting scenario...I wonder however if the asics will see a host of new sha coins launched?

[markm]

if they don't use merged mining they will all hang separately due to not hanging together, like all the scrypt crapcoins.

Already some, maybe most, of the SHA256 coins that cannot yet be merged mined are looking into adding merged-mine-ability for the same reason - survival - the old wave of altcoins did.

-MarkM-

[jubalix]

if there don't use merged mining they will all hang separately due to not hanging together, like all the scrypt crapcoins.

Already some, maybe most, of the SHA256 coins that cannot yet be merged mined are looking into adding merged-mine-ability for the same reason - survival - the old wave of altcoins did.

-MarkM-

when does ixcoin run out again?

[Vlad2Vlad]

if they don't use merged mining they will all hang separately due to not hanging together, like all the scrypt crapcoins.

Already some, maybe most, of the SHA256 coins that cannot yet be merged mined are looking into adding merged-mine-ability for the same reason - survival - the old wave of altcoins did.

-MarkM-

So the founder of a coin has to add merge mining capabilities?  How hard is it.  I now have 1.5TH on order from BFL but by the time they come I doubt I'll make much off bitcoin unless the ETF does take it past $300 and higher.  I'm looking at getting some units in September at best and some maybe by Cristmas.

So it sounds like one can merge mine even 10 coins.  This was my hunch when I bought BFL although I was told BFL rigs would only mine Bitcoin.   Cause that's where the money will be - mining Bitcoin to pay your electricity and merge mining the rest hoping one will pop and I think quite a few will.

But right now, even with 1.5Th I wouldn't be able to get more than like $12 per month if ixCoin and maybe $15 of devcoin so its coins like PPcoin that would then help to pay off the rigs.  Or maybe newer coins, as they come out.

[Vlad2Vlad]

10th of August 2013: the 2nd anniversary from the official ixc release. Has the creator anything in mind to celebrate it?
 

Wait a minute.  I thought ixCoin runs out in 18 months, so 2015.  Someone said there's 80,000 more blocks to go.  Can anybody confirm?  I've read 2015 in numerous places.

[DeathAndTaxes]

So the founder of a coin has to add merge mining capabilities?  

Still having a hard time with this concept of open source.  The actions or inactions of the founder are utterly irrelevent.  

However SOMEONE will need to add merge mining code to the child-coin.  The parent coin (i.e. Bitcoin) doesn't need any modification.  It is utterly unaware its hashes are being used to secure other chains.

Adding merge mining support will be a hard fork event.  Nodes which don't upgrade to the the version which supports merged mining will see the merged mined blocks as invalid.

So it sounds like one can merge mine even 10 coins.  This was my hunch when I bought BFL although I was told BFL rigs would only mine Bitcoin.   Cause that's where the money will be - mining Bitcoin to pay your electricity and merge mining the rest hoping one will pop and I think quite a few will.

There is no limit to the number of child chains.  No ASIC miner is Bitcoin specific.  They perform a proof of work involving hashing a blob of binary data plus an incrementing nonce two times using the SHA-256 algorithm.  Any application which uses that will work fine.  Even without merge mining one could use an SHA-256 ASIC to mine IXCoin or Devcoin.

[Vlad2Vlad]

So the founder of a coin has to add merge mining capabilities?  

Still having a hard time with this concept of open source.  The actions or inactions of the founder are utterly irrelevent.  

However SOMEONE will need to add merge mining code to the child-coin.  The parent coin (i.e. Bitcoin) doesn't need any modification.  It is utterly unaware its hashes are being used to secure other chains.

Adding merge mining support will be a hard fork event.  Nodes which don't upgrade to the the version which supports merged mining will see the merged mined blocks as invalid.

So it sounds like one can merge mine even 10 coins.  This was my hunch when I bought BFL although I was told BFL rigs would only mine Bitcoin.   Cause that's where the money will be - mining Bitcoin to pay your electricity and merge mining the rest hoping one will pop and I think quite a few will.

There is no limit to the number of child chains.  No ASIC miner is Bitcoin specific.  They perform a proof of work involving hashing a blob of binary data plus an incrementing nonce two times using the SHA-256 algorithm.  Any application which uses that will work fine.  Even without merge mining one could use an SHA-256 ASIC to mine IXCoin or Devcoin.

Thank you for the info and clarification.  You'd get farther without the snobby remarks.  Just a FYI.

I understand open source, I'm just not used to thinking in complete open source terms all the time.  When I said the founder I meant the need, in general, for coding updates to the coin on the back end and specifically a hard-fork, regardless of who's doing it but i doubt for example, someone would do all that work and the hard fork on my coin unless i pay them, which is why I said the founder.

So then it makes more sense to add the merged mined capabilities of a coin at the time of launch to avoid a hard fork later on which is what I was trying to find out as I originally wanted to launch a SHA coin.

It's good to know you can mine any SHA coin.  When I talked to josh at BFL which is one of the most informed there and also another guy I was told very clearly that I would never be able to mine anything but Bitcoin.

That said, I didn't believe them - I figured something would be done at some point to fool the ASICS and this was the main reason I went ahead with the order cause otherwise, to spend that much money on ASICS for just the long shot of Bitcoin paying off is just too risky.  But with merged mining - man, at 1.5 TH, and I hope to get 2TH before the year ends, you can make a killing on other SHA coins like PPcoin.  

And who knows what other SHA coins will come out - if you have the rigs you can mine those hard and fast before the difficulty goes too high and bank on just one single coin pulling a Bitcoin 2.0 - cause I'm certain there will be not one but multiple Bitcoin-like blow ups.  This is why it's wise to hold as many various coins as possible - regardless of how crappy they might look now.  

This is why I'm still accumulating ixCoin.  There's something about this coin I can't put my finger on - hopefully it's not Confirmation Bias.  Lol

[Vlad2Vlad]

Check the website ixcoin.org. 2015 = end of the party.

Or the beginning of a massive rare commodity-like surge.  I'm banking and betting on the latter.


But I think we'll pop before then - 2-3 months after The Bitcoin ETF launch.  And lets face it, what kind of supply is available between now and 18 months from now?  80% of the supply is gone and at least half of the coming supply won't be sold as many are hoarding ixCoin waiting for better prices.  Pools may be dumping some but that's it.

I have like 4 outstanding orders right now for ixCoin and execution is so incredibly slow - even when I raise the bids significantly.  Any kind of surge in demand would pop the price incredibly high and fast.

[Vlad2Vlad]

My wild guess: 1 btc will be traded for 10k in 1 month, 5k in two, 2.5k by the end of the year.
It means the value of 1 ixc by the end of the year will be 0.05 usd.

You know, that's the kind of smooth growth I'd expect to see as miners know the free coins are coming to an end so less and less are willing to sell.

But the real pop, if it comes will be soon after the Bitcoin ETF launch (presuming they get the license) and if not then after the coins run out in 18 months.  I'm banking in the Bitcoin ETF as bankers start looking for and accumulating various coins as speculation that another Alt coin ETF will be launched.

[Vlad2Vlad]

My wild guess: 1 btc will be traded for 10k in 1 month, 5k in two, 2.5k by the end of the year.
It means the value of 1 ixc by the end of the year will be 0.05 usd.

Hey, deadsea, have you or are you accumulating ixCoin?  How many coins do you plan or hope to accumulate?

Given the low and permanent float or outstanding coins one doesn't need very many to make a lot of money if the speculation turns out positive.  I'm aiming for 1% but the CrapCoin I launched has prevented me from writing and from having extra BTC to keep buying ixCoin.  I had to stop the buying to pay for bounties.


Good luck.

[Vlad2Vlad]

Man, who keeps bumping the bid?  I'm almost done buying ixCoin, maybe another 80K coins and then I'm out.

I've had multiple orders outstanding now well above the previous bid and nothing, like 300 coins went through and now the bid is way higher.

Let's not get into a bidding war where only the mining pools win.  

[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.

Interesting.  The volume is pretty high too considering it's more or less an abandoned coin, at 17 BTC as of a few hours ago - quite a lot higher than most coins, like the 4BTC for DVC, which is very active globally and has a good rep.

Someone is accumulating.  Besides my orders there's quite a few larger orders hanging dry.  I'm not gonna bid more than I'm bidding now, its getting ridiculous.  Miners and pools will have to sell or I'll just wait.  I already pushed the bid to 16,000 from 22,000 a few days ago when I started bidding.

And this is what I mean.  If there's ever any kind of demand for this coin, any half decent money chasing it, it's gonna skyrocket hard and fast.  There's simply very few sellers and its very difficult to mine even with a super rig.

[markm]

I0Coin was not dead, not all miners run away after the profitable coin of the day, some just stick to mining 24/7 like they should.

I0Coin and GeistGeld demonstrated problems all merged mined coins will eventually face, if they had in fact just died the problem would have eventually shown up in more merged mined coins. But by faithfully mining them despite the problem miners eventually caused the problem to be found and now, in I0Coin, fixed. Now all the merged mined coins can re-based their code on I0Coin and share the benefit of that fix. They all gain thanks to the tenacity of miners who kept going despite adversity.

And thanks too of course to the coder who finally pinned down and fixed the problem.

-MarkM-

[Vlad2Vlad]

If the price goes up it does not change much if you are able to reach 1 or 2 %.
You get reach anyway. I was looking at ripple: they are literally falling. Who want to have a 100% premined coin? It's better a 2% premined, largely used for the promotion of the coin. Who wants a coin already made up of 500 billions coins? It' better 21 millions, 2.4k time less in availability.
I have noticed that in this days they have even resurrected IOcoin from death. It seems people are generally revalueating aged and bitcoin-like coins.
If you think about it, bitcoin is opening all the doors for a large use of itself, coins like ixcoin will have simply to pass through that doors: all the structure will be just ready for them. I even think that, once the mining is completed, ixcoin will achieve even faster transactions.

That's another reason I like ixCoin, it's one of the originals and if I were a banker looking to put together an alt coin basket that would be a good selling point.  There's not many in that class - ixCoin, Devcoin, Litecoin and only a few more.  

[ewibit]

is there anywhere a GUI for IxCoin (Linux - IxCoin-Qt like I0Coin-Qt)?
TIA

[Vlad2Vlad]

is there anywhere a GUI for IxCoin (Linux - IxCoin-Qt like I0Coin-Qt)?
TIA

I would really love to get a windows 7 pro wallet for ixCoin as well.  Last I checked there was a flaw in the windows 64 version.

[Vlad2Vlad]

Anybody here able to accumulate ixCoin over the past few days?

Someone is buying large amounts of ixCoin at various prices - slowly accumulating.  Like I said a few days back - last week I drove the bid up from 22,000 IXC per 1 BTC all the way up to 16,000 and I barely picked up any coins.

So where are all the pools dumping this coin?  If anyone is trying to accumulate a couple million coins like I think the Founder is doing then no wonder he's been so quiet for so long - the liquidity is so low that it's next to impossible finding any meaningful amounts of coins for sale.

I'm getting excited imagining equilibrium for this fiat now behaving like a commodity if/once demand kicks into high gear.  There's next to no buyers for this coin at this point yet it's so hard to buy any coins.  It would be an amazing experiment watching this coin spike if/when demand ever picks up any real investors or speculative buyers.  There's just so few coins actually for sale out there. 

ixCoin is rigged and prepped, waiting to be gamed - ready to pull a Bitcoin 2.0 - now we just need someone to light the match.


Good luck!

[Vlad2Vlad]

Looks like some of my orders for ixCoin finally went through while I was away in Arizona.

I did have to pay quite a bit more but the good news is that I'm broke so I'm pretty much done accumulating ixCoin for now.


The bad news is that I'm broke so I'm done accumulating ixCoin for now.  Lol.