Ixcoin TODO

[zebedee]

There are lots of devs here, including me.
I don't understand the purpose of this coin yet.
What is it?

Lol, you must be new.

IxCoin was an attempt to make "oldminer", a.k.a. "Thomas Nasakioto", rich as he felt envy at Satoshi and that he'd missed the boat.  So he created the first scam altcoin and premined a bunch for himself.  He failed.

Next.

[zebedee]

The way I see it, what happens to Ixcoin, is a time marker, one that will echo what can be expected to happen to Bitcoin many years from now when all those coins have been mined, and I'm old enough to know that its a pretty good chance I'll be dead by then, so what happens here with Ixcoin interests me very much.

You're mistaken.  IxCoin has no transaction volume, so will wither on the vine.

Bitcoin will be the world's financial network, and fees will be higher than the block reward in 10 years time when it drops to 3.125 BTC, never mind 100 years hence.

[Vlad2Vlad]

There are lots of devs here, including me.
I don't understand the purpose of this coin yet.
What is it?

Lol, you must be new.

IxCoin was an attempt to make "oldminer", a.k.a. "Thomas Nasakioto", rich as he felt envy at Satoshi and that he'd missed the boat.  So he created the first scam altcoin and premined a bunch for himself.  He failed.

Next.

I've thought about that theory but explain this cause I can't figure it out.

Why hold on to a premine for nearly 4 years and why still pay out these bounties when it's obvious the coin has been taken over?

How many scammy coin devs who can't code do you know who are that patient, generous and altruistic?

I can't think of one premine scam CrapCoin that still had the premine 6 months later let alone nearly 4 years later.

[Vlad2Vlad]

The way I see it, what happens to Ixcoin, is a time marker, one that will echo what can be expected to happen to Bitcoin many years from now when all those coins have been mined, and I'm old enough to know that its a pretty good chance I'll be dead by then, so what happens here with Ixcoin interests me very much.

You're mistaken.  IxCoin has no transaction volume, so will wither on the vine.

Bitcoin will be the world's financial network, and fees will be higher than the block reward in 10 years time when it drops to 3.125 BTC, never mind 100 years hence.

Speaking of fees what's bitcoin gonna do when its fees next year jump 20 fold as the price skyrockets due to mass adoption and the public ETF?

Even now it costs more to buy anything $1 or less with Bitcoin than with the most expensive fiat alternative.  So forget going out 10 years, Bitcoin can't even make it past next year - it will be worthless to use as a day to day currency [even your Bitcoin muppet Andreas finally sees this] so it will be relegated to the "savings" and high ticket item purchase bin for 1-2 years until it implodes.

And let's not get started with Bitcoin's slow tx times and its inability to raise the tx size limit enough to satisfy the coming mass adoption.

So any way you look at Bitcoin, without help from other digital payment systems, it's DOA!

[SolomonRising]

Newbie here.  Looking for the next Bitcoin and some guy had a bright colorful add saying this was it.  I hope I'm not mistaken.   

[VERUMinNUMERIS]

How low is the price gonna go, this is getting scary.

[Vlad2Vlad]

Considering that august is normally the worse period for virtual coins, september should bring in new adopters, pushing the price up a little bit.

I can just quote myself, and confirm it, exactly one year later.

That's was a really good call.  I thought this year we may jump in August but it looks like august is gonna be another low point.

The 2nd half of this year should be quite joyful however. 

[Vlad2Vlad]

I was thinking about Counterparty.

According to the original developers (https://bitcointalk.org/index.php?topic=395761.0)

"BTC are sent to addresses for which there is no private key. That makes them impossible to get back."

Since two weeks ago I tried a not-working paper wallet for IXC (it generated a wrong private key), Now I know in first person what it means to 'burn' coins. It means lost forever in the blockchain.

This is the silliest use of a coin. Since sooner or later we will go back to the 'Counterparty' topic, I think we should have the goal to create a Counterparty 2.0, with the aim to improve the project.

We could have a website where charities can register and, after approval, automatically collect these coins as donations. I know the value is quite low right now, but a mechanism should be fair from its start.

It should be easy to list and delist no-profit organisations. The idea to take advantage of the blockchain and help the disadvantaged ones at the same time, it sounds nice.

I think we already decided to not burn the coins.  We could create a multi-sig wallet where the burned coins go back to the foundation and then all those coins go, like you say, to various charities.

That would ensure no coins are ever "lost" and many people would receive an endless supply of help through this positive cycle.

[zebedee]

Big shout out to zebedee!!

This guy has been posting for ixcoin since the beginning. Thats right folks, 3 years of posting in the ixcoin thread. Fucking Amazing.

https://bitcointalk.org/index.php?topic=36218.msg457399#msg457399
August 15, 2011

Thx, just calling it as I see it.

[Vlad2Vlad]

Big shout out to zebedee!!

This guy has been posting for ixcoin since the beginning. Thats right folks, 3 years of posting in the ixcoin thread. Fucking Amazing.

https://bitcointalk.org/index.php?topic=36218.msg457399#msg457399
August 15, 2011

Thx, just calling it as I see it.

I wouldn't be so quick to boast as you were wrong then and [thus far] still wrong 3 years later.

From your post from 2011:  "Too bad for those "early adopters" duped by this."

For your info, people who paid half of 1 penny for IXC back then have a lot more money, dollar-wise - right now, than if they had invested in straight BTC.

How many altcoins can claim that over such a long stretch?  Also, IXCoin has done a great job tracking BTC for a long time even though its inflation rate was much higher.  Explain that to me - that's also unique and a very difficult accomplishment over the long run.

And you still haven't given me a rational explanation as to why Thomas Nasakioto stuck around this long if this was a cheap make a quick buck premine scam.  And why is the premine still intact and why is Thomas still paying out these large bounties after 3 friggin years?

Doesn't this fact bother you a bit - it sure bugs me [a lot] and I just can NOT figure it out.  It defies all logic.

I seriously would like an answer cause I tried and I can't find a single logical explanation which doesn't lead to a conclusion involving some sort of [pre-meditated] long term plan.

Cheers!

[Vlad2Vlad]

For the record - I think Zebedee and CfA are the same guy and I think they're NXT insiders.

Instead of making a movie together [or something] they gotta come here and sabotage me. 

As if sabotaging eMunie wasn't enough, eh?   

[Polycoin]

I officially give Vlad2Vlad, the Perseverance Award, for being at this shitcoi...I mean iXcoin's side for 3 years, even as it's price fell 200,000%, it's development team disbanded, and it's buyers ran for for the hills.

Congratulations! In a few years, this will be talked about.

[Vlad2Vlad]

I officially give Vlad2Vlad, the Perseverance Award, for being at this shitcoi...I mean iXcoin's side for 3 years, even as it's price fell 200,000%, it's development team disbanded, and it's buyers ran for for the hills.

Congratulations! In a few years, this will be talked about.

Don't look now but it looks like they're talking about it now.  lol.

On a personal note:  I don't think I've ever seen anyone with a negative 24 trust rating so as much as I wanna trust your opinion, I'm having a tough time doing so.

But you made me laugh so I'm gonna wish you well and I really hope you buy just 1,000 IXC which will cost you next to nothing - just in case I end up being right.

Otherwise, I hope you're loaded up with BTC and alts cause I think the next Crypto Boom is about to start.

Good luck!

[bitbets]

My theories about possible future booms or mini-booms in the

crypto-coin realm,


is having to do with things like the Winkelvoss ETF crypto or bitcoin

mutual fund.

That mutual fund may be the first of many, but we still are waiting on this one.


Anyways, if/when the Winkelvoss ETF begins to trade on the NASDAQ (I think that is
where it is going to trade? ),

then it really depends on how that is managed, as to how that may or may not

effect bitcoin or any of the other crypto-coins.


It may turn into a relative non-event and dissappoint?

Or it may cause a sudden upward surge in the price of bitcoins.


I had read that it was going to trade under the name 'COIN' on the NASDAQ exchange,
and as  such, I noticed that they stayed away from calling it

a bitcoin mutual fund, but instead chose the more general word 'COIN'


OK,  the fact they chose the more general word 'COIN' indicates to me, that they
intend to allow themselves more liberties to invest into crypto-coins in general,

or what i mean, is, that they may invest in alt-coins.



But back to what I was talking about, the booms, or mini-booms.

Well, the winkelvoss mutual fund has the potential of driving the
altcoin marketplaces, or exchanges.


And because of potential of large amounts of money suddenly coming into certain
crypto coins, or perhaps all of them existing at that time,
therefore the buzzword may become 'WHAT ARE THEY GOING TO INVEST INTO NEXT?'

Because, of course, if ya can get in at low prices, prior to the etf buying,
then perhaps you get 10x, 100x, or 1000x or even more,
all of a sudden. ( you cannot win this lottery unless you get some coins now or when there is market pessimism,
and there has to be some market pessimism for investors to win
so market pessimism is actually very good for investors who speculate and buy a lottery ticket so to speak )


And that will create speculation which will tend to drive other altcoins up as
people begin to wonder which altcoin the etf will turn its attention to next.


But it may be the first mutual fund of this type for bitcoin and crypto, with
others to come along later; and its just the beginning of

the booms and mini-booms then.    

[Vlad2Vlad]

BitBets,

There still appears to be some confusion and misinformation about the coming Bitcoin ETF so allow me to clarify a few things.

The Bitcoin Public ETF (COIN) is not a mutual fund, it is an Exchange Traded Fund which is very different.  The ETF does NOT and can NOT invest in anything but the underlying asset for which it was designed and licensed for, which in this case is Bitcoin - at a rate of 1 Bitcoin purchased [and stored] for every 5 COIN shares which are bought off the Nasdaq exchange.

That's it - that's all the COIN ETF can buy - it cannot buy corn, gold, Apple stock-shares or other alt coins.

That said - COIN will absolutely have a massive profound effect on the Bitcoin price - it will take it to $10,000+ within the first 6 months and we will see massive volatility due to option plays and the fact the big players will be able to legally go long AND SHORT, thus easily manipulating the Bitcoin price.

Right now hedge funds, mutual funds, pension funds, etc., can NOT legally buy BTC so the ETF (COIN) will open the floodgates for trillions of dollars in potential investments.

That said:  There will be massive positive effects on alt-coins as BTC goes up - tides lift all boats.

We will see a crowding out effect caused by this ETF which will lead to a massive spillover effect into alt coins which should also be magnified by speculative investors.

However, mutual funds and such will NOT be able to buy alt coins, the same way they cannot buy Bitcoin now.

That said, one has to assume that if BTC gets the ETF license then there will soon be other applications for other alts to also get an ETF license.  

For this reason I have already inquired [last year] with experts to see what I would need to get IXC its own ETF given IXC would be the best and easiest candidate for such a license for a number of reasons.  In a nutshell, I will need $2 million dollars and I have already previously stated that if IXC should hit ~$10 that I would immediately apply for an iXCoin Public ETF license.

To be certain:  This public ETF license was a done deal from day one - something I was called crazy for saying last year - and the reason it will be approved is to accelerate the mass [Global] adoption of Bitcoin.  This effect will create a massive influx of new investors, mass global adopters, Bitcoin added as a national reserve [in numerous countries] and an influx of tens to hundreds of billions of investment dollars coming into Bitcoin just in the first year - and many times that amount thereafter.  This is why I said Bitcoin will be at $10,000 next year which will actually appear like a cheap price at the time.

And of course, % - wise, one can make 1,000's fold more money on alts but there are obviously more risks there so I would say diversify.

Hope this clarifies some things.


Cheers!

[bitbets]

thanks for clarifying, but I dont know that much about that stuff


I remember the dot com boom and the internet stocks

going up like rockets.

I remember, I used to try and figure out if certain mutual funds

were buying a stock, and if they were I would jump in with everything I had,

to hitch a ride up in the rocket
( but I find these coins are actually more explosive than the internet dot com boom in general,
with % increases much higher at times )

[Vlad2Vlad]

thanks for clarifying, but I dont know that much about that stuff


I remember the dot com boom and the internet stocks

going up like rockets.

I remember, I used to try and figure out if certain mutual funds

were buying a stock, and if they were I would jump in with everything I had,

to hitch a ride up in the rocket
( but I find these coins are actually more explosive than the internet dot com boom in general,
with % increases much higher at times )

The potential with alt coins and Bitcoin is 1,000 greater than any dot com stock.  I have posted this before but I'll post it again.

The biggest winner during the entire dot com stock boom was dell, which from 1991 until year 2,000, shot up 540 fold which is 54,000%.  So it took 9 years and it was the biggest winner during that entire massive dot com tech bubble.

Right now, with cryptos just reaching less than 1% of the population and no institutional participation yet - we have already had at least 4 coins which have shot up way more than DELL, and in some cases it happened in a few months (quark - 200,000% in a 4-6 mo) not 9 years.

Bitcoin, NameCoin, LiteCoin and Quark are 4 coins which you can verify with 100% proof that they have already dwarfed the biggest and best dot com bubble gainer - and they're still set to keep gaining in the months to come.

And this has just begun - I predict we will have many more 1,000 fold, 100,000% winners in the coming year and some will go up 1,000,000 fold, something which is unimaginable as a professional investors and has never happened since the birth of the stock market.

So invest in alts and diversify cause you never know which coin will be the next quark.

Finally, I don't see any of these coins surviving longer term - with the exception of maybe a few so make sure you sell when you're sitting on an unreal amount of money.

Good luck!

[bitbets]

Thanks vlad, I think you have some good info 

[GroundRod]

Been trying to get a few minutes in to post on here for days, keep getting interrupted.  Blow me away, great job ahmed_bodi, the 9.2 client is so close to showme time I'm without words...

Saw the units of measure coding correction you posted yesterday, uploaded to github before I even had found the problem.  Also been reviewing sections of code & was trying to find a post from over a week ago, something about how we needed ixcoin nodes to code in for the release, anyway was stumbling over sections like this in chainparam.cpp:

Code:

hashGenesisBlock = genesis.GetHash();
	assert(hashGenesisBlock == uint256("0x0000000062558fec003bcbf29e915cddfc34fa257dc87573f28e4520d1c7c11e"));
	assert(genesis.hashMerkleRoot == uint256("0xe61339a40aa4e90e983fe0d64cf09eed5fa1e6eac227b6761f06ac7af1929baf"));
	
	vSeeds.push_back(CDNSSeedData("devtome.com", "dvcstable01.devtome.com"));
	vSeeds.push_back(CDNSSeedData("dvcnode.org", "dvcstable01.dvcnode.org"));
	vSeeds.push_back(CDNSSeedData("dvcnode.org", "dvcstable02.dvcnode.org"));
	vSeeds.push_back(CDNSSeedData("dvcnode.org", "dvcstable03.dvcnode.org"));
	vSeeds.push_back(CDNSSeedData("dvcnode.org", "dvcstable04.dvcnode.org"));
	vSeeds.push_back(CDNSSeedData("dvcnode.org", "dvcstable05.dvcnode.org"));
	vSeeds.push_back(CDNSSeedData("dvcnode.org", "dvcstable06.dvcnode.org"));
	vSeeds.push_back(CDNSSeedData("dvcnode.org", "dvcstable07.dvcnode.org"));
	vSeeds.push_back(CDNSSeedData("dvcnode.com", "node01.dvcnode.com"));
	vSeeds.push_back(CDNSSeedData("dvcnode.com", "node02.dvcnode.com"));
	vSeeds.push_back(CDNSSeedData("dvcnode.com", "node03.dvcnode.com"));

so was again wondering, about that question. 

Looks to me like we probably need to have something other than dvcnode.com/dycnode.org sites listed in our(your) future releases.  Could the community here please give me some input about what should be coded?

Other thoughts,

...kinda took my breath away when I saw that 3+ years of block chain needed to downloaded. loved that the new client comes up and asked where I want to store my data files, your 9.2 download seems to be working way beyond my expectations from a client perspective so far.

NOTE: Perhaps someone here also knows how to create a bootstrap.dat file and upload the torrent, before I can figure it out....suggestion: It would be nice to have one made, just after the last block is mined...

Love having a network traffic graph in the client...

To bad the foundation people never finished making a decision on the logo....hint-hint

Know allot of that is just because of the latest bitcoin core, yet felt it was worth making the point----> The 9.2 client appears to me that its almost ready to go!!!.

@ahmed_bodi - If anything is wrong, I haven't seen it yet, will keep testing & reviewing the code.  Any reports on how things are going from a merge-mining perspective, will be greatly appreciated.   Going forward, looks like security will be on everyone's mind, more than ever.

Some of you might have trouble syncing up on a clean install with the 9.2 client we're testing, I didn't, after 1-2mins it was going to town & had figured out some good peer connections.  So I canceled that download, deleted my blocks & chainstate subfolders & copied over the 8.6 blockchain to the test dir, it then synced up instantly and was idling a couple hours before I did this console query, abrev & sorted peers list from the JSON output follows:

Welcome to the IXCoin RPC console.
getpeerinfo
LIST "subver" : "/Satoshi:0.8.6/",
"addr" : "92.97.27.98:8337",
"addr" : "98.165.136.148:8337",
"addr" : "167.160.36.73:8337",
"addr" : "188.226.177.232:8337",

LIST "subver" : "",
"addr" : "62.210.198.84:8337",
"addr" : "50.116.20.183:8337",
"addr" : "50.46.245.151:8337",
"addr" : "68.168.104.10:8337",

My guess is a ixcoin.conf file with those first 4 added should do the trick for some of you, as they were listed as running subver 0.8.6 on my end, another idea is to try the console commands (haven't tested either yet myself), guessing it would look something like this:
addnode=92.97.27.98:8337
addnode=98.165.136.148:8337
addnode=167.160.36.73:8337
addnode=188.226.177.232:8337

l8r...

GR

[Vlad2Vlad]

For now we will use the logo we voted on months ago.  It looks great and people recognize it.  The one letter symbol I was hoping we'd have has not materialized yet.