Ixcoin TODO

[zhouhuiyan520]

I didnt get any coin after some action...you are cheating!

[Vlad2Vlad]

Ixcoin.org:

Issuance of the total 21M Ixcoins in 192 days.
According to this website: http://www.easysurf.cc/ndate2.htm

It's October 15th 2014.

Is it right?

That can't be right, it's supposed to be around summer of 2015. 

Can anyone comfirm?

[MaddestScientist]

Total no. of IXC = 21M
Reward per block = 96, so total number of blocks = 21000000 / 96 = 218750 blocks

Right now, IXC is at block 197574, so there are only 218750 - 197574 = 21176 blocks left

At ~10 minute per block, there will be about 144 blocks per day

21176 / 144 ~= 147 days left before all IXC are mined.

The figures will be different if reward-halving is involved. Does anyone know if IXC reward will ever get halved, if so when?!

Now, here is a BIG question: When no more IXC will be mined, why would pools continue to merge mine IXC?!

Ixcoin.org:

Issuance of the total 21M Ixcoins in 192 days.
According to this website: http://www.easysurf.cc/ndate2.htm

It's October 15th 2014.

Is it right?

That can't be right, it's supposed to be around summer of 2015. 

Can anyone comfirm?

[Vlad2Vlad]

Your math makes sense so then, why does Thomas' countdown on iXcoin.org show 191 days?  Either way, it's way before next summer.

There is no reward halving. 

If we don't get some major action in the next six months then we have no choice but to change the protocol's HardCap and add a nominal inflation rate.  Deflation is not a good idea anyway so we will blow that bridge up when we get to it but there's no way I'm gonna do nothing and let the pools drop IXC.

[markm]

The idea is to have actual transactions happening, paying fees, so that there will be fees for miners to earn.

Pools will though presumably own lots of coins by then so might well prefer to continue to secure the chain, which is, after all, the purpose of mining, in order to retain the value of their hoards of coins, which so far have hardly been worth the bother of selling. Once miners are not longer raking in 96 coins per block maybe the hoards of coins the pools and miners have accumulated all these years might even start going up in value.

Basically it is a test, will people actually perform enough transactions to attract miners, if not will those with a vested interest, such as pools, bother to continue securing the chain to retain the value of their hoards?

For a test of the continue to emit a few coins case there is I0Coin, so that we can observer IXCoin and I0Coin side by side and see what happens...

-MarkM-

[Vlad2Vlad]

@Mark,

You make a good point.  We should wait to see what happens. We can add nominal inflation afterwards if necessary.

I still think something will happen soon.

But what do you mean pools have hoards of coins?  Don't those coins belong to the merge miners?

[markm]

The pools get a percent don't they?

Most merged mining pools are in mining for the long term, not fly by night scratch-and-burn miners like the GPU miners tend to be, so presumably some of them would have been holding coins for the long term not throwing them away as they get them to drive down the exchange rates?

Heck there is a good chance merged mining pool operators first mined a lot of coins themselves before adding a coin to their merge. Then also look at how mmpool works, it merges all the coins and only gives them out to the users who want them, do they keep for themselves the coins that users did not want?

-MarkM-

[Vlad2Vlad]

The pools get a percent don't they?

Most merged mining pools are in mining for the long term, not fly by night scratch-and-burn miners like the GPU miners tend to be, so presumably some of them would have been holding coins for the long term not throwing them away as they get them to drive down the exchange rates?

Heck there is a good chance merged mining pool operators first mined a lot of coins themselves before adding a coin to their merge. Then also look at how mmpool works, it merges all the coins and only gives them out to the users who want them, do they keep for themselves the coins that users did not want?

-MarkM-

Right, 2% is very common.  Yeah, that adds up.  You scared me, I thought some pools kept them all which would mean they're sitting on millions of coins.

I wouldn't be surprised though if we do have some secret hedge fund buying, if they hit up some of these pools and made a cash offer for their iXcoins.

That's what I would do if I had the money.  

And look at how fast the unknown ASICS mining pool is growing.  Gee, I wonder who had that kind of money to create such a massive secret pool all of a sudden.  Now whoever that is, for sure is hoarding all the iXcoins they're merge mining.

And the guy on Vircurex gave his position away by putting up a 500,000 scarecrow Bluff sell-block.  Now I know what I once only theorized, that we've had a huge whale do a lot of stealth buying in iXcoin, since early last year.  But I'll keep pretending I'm the largest iXcoin holder.

It makes me feel good about myself...like a new suit - only virtual.  Ha!

[markm]

Maybe Vircurex was chosen to place the huge IXCoin sell order precisely because Vircurex is where the long term supporters of the merged mined coins were?

The people seriously trying to build price floors under the coins seem to have mainly been on Vircurex, as the whole mentality of chasing all the latest scams that most other exchanges display is kind of counter-productive to those who are looking to focus on serious coins for the long term and actually uphold them instead of doing scratch-and-burn style fly by night migratory mining and pump-and-dump-ing

As our frozen bitcoins on Vircurex come unfrozen we will be able to pick up that wad of coins, if it is still there by then.

-MarkM-

[Vlad2Vlad]

Maybe Vircurex was chosen to place the huge IXCoin sell order precisely because Vircurex is where the long term supporters of the merged mined coins were?

The people seriously trying to build price floors under the coins seem to have mainly been on Vircurex, as the whole mentality of chasing all the latest scams that most other exchanges display is kind of counter-productive to those who are looking to focus on serious coins for the long term and actually uphold them instead of doing scratch-and-burn style fly by night migratory mining.

As our frozen bitcoins on Vircurex come unfrozen we will be able to pick up that wad of coins, if it is still there by then.

-MarkM-

I see your point but I see two problems with that.


1) There are no buyers on Virxurex due to the reported issue of freezing people's Bitcoins.  The evodence is that in a week less than 2,000 iXcoins sold out of the 500,000 block and this is precisely what I said would happen: the block will not sell, but it will manage to put a top on any potential run on Cryptsy and scare away new buyers.

2) That's a big block to sell which means the receipt of 35 Bitcoins is a good amount of money and that's a lot of money to have frozen and potentially risk to lose to Vircurex.

So my question is:  who would take that kind of risk to NOT sell their huge block of IXC.

Put a different way:  If I wanted to keep IXC price low and at the same time not lose my huge block of iXcoin, which took me months to gather, I would precisely put it for sale on Vircurex, for the very reasons mentioned above.

No matter how I twist this thing it always comes out to the very same conclusion:  There be a whale in IXC and it's really hungry for more [iXcoins] and it's manipulating iXcoin the way it has been for at least the 10 months I've been buying, as I clearly documented, on this very thread [as I was accumulating] all of last year.

[markm]

I have more than 35 bitcoins frozen on VIrcurex. The main reason I have not bought any IXCoin at 7000 satoshis is simply that I get them cheaper so there is no point in buying them at higher prices than I can get simply by sitting on the buy side waiting for impatient sellers to throw their coins at the buy book.

-MarkM-

[Vlad2Vlad]

I have more than 35 bitcoins frozen on VIrcurex. The main reason I have not bought any IXCoin at 7000 satoshis is simply that I get them cheaper so there is no point in buying them at higher prices than I can get simply by sitting on the buy side waiting for impatient sellers to throw their coins at the buy book.

-MarkM-

WOW, that's a good chunk of change.  So if I sent some BTC to Vircurex right now, they'd freeze a good portion of it, right?  That's how I understood it so I can't chance it.

I can see that miners are routing their sells to Cyptsy now.  Vircurex used to have the biggest blocks and now they're mostly gone, besides the one massive block, of course.  So you've got a good strategy but if I had the money I'd still bite our stealth whale.

But I still think most new investors would get spooked by that huge sell block given they don't really know what's going on.  So it essentially caps the top on Cryptsy without the risk of actually getting bought.  If that's the scope of that block then it's a brilliant strategy, one that didn't cross my mind until after I saw it.

[tskweres]

IXcoin looks interesting

[eightspaces]

IXcoin looks interesting

are u affiliated with the exchange coinmarket? it scammed its users coinmarket.io
seems like u have the same name... why choose the name of one of the most hated exchanges? makes no sense for publicity

[Vlad2Vlad]

What happened to luke?  Pulled a Thomas.

Came in hard and fast and just evaporated.  Sad, he was a good addition.

[eightspaces]

What happened to luke?  Pulled a Thomas.

Came in hard and fast and just evaporated.  Sad, he was a good addition.

i read carlos perez is mad at thomas cuz he didnt pay his bounty  ( i pmed thomas and he said he  thinks frictionlesscoin is an asshole)

any idea why?? i thought carlos did a good job taking over ixcoin even though it is now worthless at the very moment. the latter is clearly not his fault though

[markm]

So if I sent some BTC to Vircurex right now, they'd freeze a good portion of it, right?  That's how I understood it so I can't chance it.

Supposedly not. Supposedly the reason the coins already on the exchange were frozen was precisely in order that newcomers would not be effected. So presumably we are to believe that enough coins were frozen to cover all the old losses so that all newcomers and new deposits enjoy a fresh start unencumbered by the past.

-MarkM-

[FrictionlessCoin]

So if I sent some BTC to Vircurex right now, they'd freeze a good portion of it, right?  That's how I understood it so I can't chance it.

Supposedly not. Supposedly the reason the coins already on the exchange were frozen was precisely in order that newcomers would not be effected. So presumably we are to believe that enough coins were frozen to cover all the old losses so that all newcomers and new deposits enjoy a fresh start unencumbered by the past.

-MarkM-

Well I had thought that they had resolved all the issues right after the attack last year.

But guess what they did? They said they would pay interest on all new deposits then they confiscate it months later.  That is plain B.S.. 

[Vlad2Vlad]

What happened to luke?  Pulled a Thomas.

Came in hard and fast and just evaporated.  Sad, he was a good addition.

Luke seems a little bit "distracted" by other projects: Dogecoin, Vertcoin, and now the ever-falling Auroracoin.
In one month Auroracoin passed from 0,15 to 0,004 BTC. I believe the fall will continue.

What?  I didn't know luke was doing something with those other coins.  Man!!!

AuroraCoin was an obvious halfscam from
Day one.  Anonymous devs with 50% premines?  Enough said.

[Vlad2Vlad]

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