Ixcoin TODO

[jamaer]

What is going to happen in 27 hours?
https://www.coinprism.com/
The colored show is gonna start?

To me Colored Coins makes more sense.

This is actually intersesting.  However, I am not sure if this is a completely different specification as the original colored coins.

I think Coinprism is going to be launch on the bitcoin mainnet, it's been a while in beta testing in the testnet. Their Google page says:

CoinPrism - Web Wallet - testing on testnet - will be in GA o mainnet in few days!

CoinsPrism is implementing the Open Assets Protocol.

[ushuai]

Hi,

I would like to start a small contest (just for fun).
Make the proposal for an animal representing iXcoin. Possibly not a dog.
Any idea? I got one but I just wait for yours.
Come on! A funny animal. Send the picture and let's connect it with IXC.
Maybe we could take away the boriness from this coin.

Lynx has a lot of symbolizm we can use.

"iXcoin lynx you to your counterparty"
"iXcoin lynx people together"
"iXcoin provides the lynx for your success"

http://ecologyadventure2.edublogs.org/files/2011/04/canadian-lynx.jpg-2-2e8qx7n.jpg

http://byrek.deviantart.com/art/Fracted-Lynx-2-175694979

http://byrek.deviantart.com/art/Fracted-Lynx-175694902

http://byrek.deviantart.com/art/Fracted-Lynx-3-175695067

[ushuai]

Lynx gives you options for going cute or sexy too.

http://www.canstockphoto.com/illustration/lynx.html

[Vlad2Vlad]

Hi,

I would like to start a small contest (just for fun).
Make the proposal for an animal representing iXcoin. Possibly not a dog.
Any idea? I got one but I just wait for yours.
Come on! A funny animal. Send the picture and let's connect it with IXC.
Maybe we could take away the boriness from this coin.

Lynx has a lot of symbolizm we can use.

"iXcoin lynx you to your counterparty"
"iXcoin lynx people together"
"iXcoin provides the lynx for your success"

http://ecologyadventure2.edublogs.org/files/2011/04/canadian-lynx.jpg-2-2e8qx7n.jpg

http://byrek.deviantart.com/art/Fracted-Lynx-2-175694979

http://byrek.deviantart.com/art/Fracted-Lynx-175694902

http://byrek.deviantart.com/art/Fracted-Lynx-3-175695067

That's actually a pretty cool idea.

[Vlad2Vlad]

Hahahaaa.

That white rabbit is Bitcoin Brock....and I'm the big Hungry kitty.

lol.

[Vlad2Vlad]

Hi,

This is my first Post here, so hello everybody. Im invested in Ixcoins, i bought part of the 500000 block. maybe you noticed that the block did not sell in one chunck, since i am not a big BTC player, i took me a while to get all my btc together and move them to vircurex. also i didnt know if i can trust the exchange, so i first tested it with a small amount. after i started buying, somone started panicing. he than bougth what was left at the market (maybe 350k) in one bite.

That right there proves my theory that the seller was using that block to cap the price thinking nobody would be crazy enough to send Bitcoins to vircurex.

Sorry, I just now saw this post.

Very interesting indeed.  There's a huge holder out there, with well over 1 million coins and he wants more.  You took 150,000 coins from him.  Hahaa, if I had the money I would have bought the whole block.

Congrats, you got a dirt cheap deal.

And...


Welcome to the  F U T U R E!

[Vlad2Vlad]

maybe an ixc richlist would bring light to this dark topic, but i dont know how to do this.

and if he splits it up into several addresses we cant tell anyway.

anyone noticed the bot buying on cryptsy? he is only here on weekdays, mo-fr, every night he buys around 5-7k ixc, no matter the price.
maybe its also just somone working, becasue on weekends there is not this kind of buying.

http://imgur.com/T32oqT7

What?  No, I never noticed that.

For a year now though, I a noticed professional trader at work manipulating the price of iXcoin.

I saw that kind of work being done on stocks for many years.  It takes a pro to do it that smoothly and to actually buy up tons of a coin while the price is dropping.

Like what's happening with Bitcoin now.  People think I'm wrong about banks and Wall Street and corporations buying up Bitcoin like crazy right now - all cause Bitcoin has been going down in price.

Lol, that's what asset price manipulation is and that's how I knew last year that Wall Street was secretly buying up Bitcoin [and alts as well].

As these companies report their new holdings people are gonna be shocked at just how much Bitcoin they now own.  Like I said:  25%+ by Christmas and 51%+ within 18 months.  The big money will literally own and control Bitcoin which is why and how I knew they'd make a run for the Foundation Board. 

When people realize this they will run for coins like iXcoin and I'm thinking the smart money knows this and that's why they've been secretly accumulating massive amounts of IXC for at least a year now.

Thanks for pointing that out, I wasn't aware of that bot.

[Vlad2Vlad]

An ixCoin rich-list won't work.  I'm the only one on the planet who has honestly come out and said what I own.  I did it to encourage others to buy IXC.  

Some wanna stay anonymous, others don't wanna have to help out with paying for anything [even though they may have a lot more money than me] while the really big ixCoin buyers, who knows who they really are.  They could be Goldman and Morgan or a Hedge Fund with an agenda so we'll never know now many coins they really have.

What I would like to know is what kind of distribution we have.  I think iXcoin's distribution is better than any other alt coins and better than even Bitcoin.

This would be an amazing feat if it were true.

If I ever get the money I will hire someone to do the proper analysis, like rptiela did for Bitcoin.

[Vlad2Vlad]

Medusa,

I totally agree with you.  I feel like we're rushing into this code update and nobody knows what's really going on or what's the best solution.

It would really help if Friction would actually communicate more clearly.  Questions have been asked and I honestly don't see very clear answers.

But also keep on mind I don't know anything about programming.  So I try to understand what this update will do from a financial instrument perspective.

If we have a few guys on here that know how to code and if we can get their input then YES, we should all pitch in with ideas to help Friction write the best update possible.

I'm glad to have a professional like you on board, Medusa.  Really glad!

Thanks again.

[nfigueir]

"iXcoin lynx you to your counterparty"
"iXcoin lynx people together"
"iXcoin provides the lynx for your success"

These ones are really good

[FrictionlessCoin]

Counterparty is protocol that rides on top of the block chain.  It has its own currency different from Bitcoin.  It can have other currencies similar to colored coins (they call them assets).

With Counterparty, there was a stage to create this new currency by burning bitcoins.

The main modification I plan on making to Counterparty is to modify the burning mechanism.  Rather than have a fix time to burn a coin,  anyone can burn an IXC to create a Counterparty coin (call it MIXC).  MIXC and IXC are 1:1, so 1 IXC burns one MIXC.   Once converted to MIXC you cannot convert MIXC back to IXC.   An alternative to burning the coin is to have an exchange that have people converting MIXC back to IXC. 

Of course there are alternatives to CounterParty,  these are ColoredCoins and MasterCoin.  Both are similar in that these are just protocols on top of the blockchain.    It is the realm of possible to take MasterCoin and port it instead of CounterParty. 

[ushuai]

IX, the Lynx's Coin.

https://i.imgur.com/KtbBEfa.jpg

That's actually a Puma or Mountain Lion, not a Lynx.

[jamaer]

The main modification I plan on making to Counterparty is to modify the burning mechanism.  Rather than have a fix time to burn a coin,  anyone can burn an IXC to create a Counterparty coin (call it MIXC).  MIXC and IXC are 1:1, so 1 IXC burns one MIXC.   

So you decided to go with the infinite burning period option (I take it as an implicit admission that your original plan (IXC as native currency) could not be implemented). I outlined earlier why I think it would be better to create this metacoin (MIXC as you call it, I called it IXCP earlier) by another mechanism. Also at least Vlad and Johnny expressed their dislike of the burning, so could you elaborate why it's better than the idea I proposed?

Also what are you exactly planning to produce? Sources for the modified Counterpartyd? Something else?

BTW, are non-standard transactions supported in the current IXC implementation?

[FrictionlessCoin]

I understand that a burn appears wasteful.

The alternative is to send the coin to a fixed address with a known private key.

Two problems with this:

(1) Who knows the private key?
(2) You can infinitely "burn" a coin by sending it from the fixed address back to itself.

[EFFV]

I understand that a burn appears wasteful.

The alternative is to send the coin to a fixed address with a known private key.

Two problems with this:

(1) Who knows the private key?
(2) You can infinitely "burn" a coin by sending it from the fixed address back to itself.

What if this fixed address was a charity?

Is there a way to put these would-be "burned" coins to use?

[jamaer]

The alternative is to send the coin to a fixed address with a known private key.

That's not the only alternative. I explained another one, but you seem to ignore my comments (which is kind of sad considering that I donated 5000 IXC to you to do this job).

Let me rephrase my proposal if my previous explenations were unclear. So the idea is to create the necessary metacoin similar to how the spin-offs are planned to be created: we would bootstrap the distribution of the new metacoin (IXCP) with IXC blockchain (of certain heigth). Implementation in CounterParty would be rather straightforward: you take the snapshot of the IXC, and in the protocol instead of the "burn" you would have something like "activate", which would first check if the IXCP address exists, and if not, credit the equal (or proportional) amount of the IXCP as the address was holding IXC in the snapshot.

[jamaer]

Is it detrimental to have 10+ counterparty systems all living on the same blockchain paying miners extra fees?

IMO exactly opposite.

BTW, there is an additional thing that could be rather easily added to Ixcoin. TierNolan recently proposed a protocol by which one can trade bitcoins and altcoins directly in the blockchains. Only extra thing required is that the non-standard transactions are supported in one of the chains (that's why I asked Friction what's the case now with IXC). By this protocol, people could directly trade BTC vs. IXC without any need of a third-party exchange!

[Vlad2Vlad]

Is it detrimental to have 10+ counterparty systems all living on the same blockchain paying miners extra fees?

IMO exactly opposite.

BTW, there is an additional thing that could be rather easily added to Ixcoin. TierNolan recently proposed a protocol by which one can trade bitcoins and altcoins directly in the blockchains. Only extra thing required is that the non-standard transactions are supported in one of the chains (that's why I asked Friction what's the case now with IXC). By this protocol, people could directly trade BTC vs. IXC without any need of a third-party exchange!

Now that sounds Amazing. 

A currency market within the currency itself.

The inverted bizarro world of Cryptos!

[kraizi]

One way to logically create this is to use the burn functionality.  Unlike Counterparty, you can burn IXC anytime but the exchange rate will always be 1:1.    This effectively pegs the value of the metacoin with IXC.   Alternative to burning of course is to exchange IXC of the metacoin.    There is however no mechanism to burn the metacoin so it becomes IXC.   That technology is still being worked on by the meta-coin folks.

I don't see how pegging the value of the metacoin to IXC would work.  Then the metacoin is not an independent entity.  I would avoid this.

[kraizi]

Yes, burning is one way only. I've never been happy with the burn idea.

In general, I don't think it's good to have anything that is not reversible.  Does burning take iXcoin away from being used for iXcoin transactions?  If so, that's not good, especially if it can't be reversed.