[ANN] [MΣC] Megacoin.co.nz - Forum, Github, Website Now in 18 Languages

[bholzer]

If you guys haven't noticed, people are artificially keeping the prices low at Cryptsy by piling on small low-ball sell orders. This keeps the multipools and hoppers away longer and allows us to mine more at a lower difficulty.

There isn't really that much cheap Megacoin to buy other than a few nuts that are actually dumping -- unless there's a large quantity available at a great price I wouldn't mess with it -- just keep mining.

[Lethn]

So basically you're price fixing so you can profit more in the long run?


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[bholzer]

So basically you're price fixing so you can profit more in the long run?


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I'm just saying if there is 250 MΣC divided up between a dozen ultra-low sell orders...buying that 250 MΣC could bump the perceived profitability up 20% meaning it instantly gets hit by the multipools (setting off the waterfall effect where the difficulty actually drops rapidly for a while when the high hashrate hits...then skyrockets and brings the network to a crawl when they leave.) Within minutes of buying that 250 MΣC it would then take me almost twice as long to find a block as before the multipools hit. I'm not the one trickling out all of the small sell orders...and I'm sure some of it is auto-sells from multipools...but in my previous example I end up with more MΣC if I don't buy those low offers and just keep mining at a better difficulty so I gladly let it sit there. I will also admit there are times I'll dump a couple dozen MΣC super cheap just to keep it off the multipools a bit longer. It's the multipool formulas that are flawed but is it real immoral to manipulate them? I'm a dedicated MΣC miner and they're just driving down the value by mining and dumping.

I'm not sure it's price-fixing as much as it is doing the math and deciding what benefits me the most. I'm a small fish, here...but if you really look closely there is rarely a large quantity of cheap MΣC out there. Once in a while a panic-seller would dump everything -- in that case I'd scoop up a chunk of it when I could.

[Lethn]

I understand what you're saying and by itself I don't really consider it that much of an issue but the thing is that's what the Federal Reserve does with the USD on a massive scale, thankfully though there's no government backing Megacoin speculators so as volume increases I suspect it'll be just like Bitcoin where people dumping large amounts like that won't do much.

[vtr99]

If you guys haven't noticed, people are artificially keeping the prices low at Cryptsy by piling on small low-ball sell orders. This keeps the multipools and hoppers away longer and allows us to mine more at a lower difficulty.

There isn't really that much cheap Megacoin to buy other than a few nuts that are actually dumping -- unless there's a large quantity available at a great price I wouldn't mess with it -- just keep mining.

Buy 'em, Mine 'em, it's all good. A few at a time, a bunch at a time. I'll take 'em however I can get 'em. I think some people buy a little at a time, and some sell a little at a time as they mine. Probably a good strategy buying Megacoin a little at a time as you can afford it, because we are up over 25% in 24 hours. In another week we'll be wishing we could still buy at this price, so it's a great time to buy. Difficulty is low, and it's a great time to mine!

http://www.youtube.com/watch?v=QSLMWasU0rM

[Lauda]

What your PR guy told me.. this will take a while, Kimoto, you always miss ETA by a long shot according to him?
Please tell me that this is not true 

[bholzer]

What your PR guy told me.. this will take a while, Kimoto, you always miss ETA by a long shot according to him?
Please tell me that this is not true 

I'm guessing the big release will be a ways down the road (sounds like it's pretty intense)...but I'm sure the difficulty adjustment fork will roll out before the next reward halving.

[Nordstern]

time for more cheap buys... ;-)

[blarg]

MΣC making a nice comeback never doubted you ever!!11one

[vtr99]

MΣC making a nice comeback never doubted you ever!!11one

Up another 20% on http://coinmarketcap.com/, but still a bargain in my opinion. Wouldn't take much in the way of good news to start a stampede and double the current price.

[kimoto]

I believe I saw ohiwastedmylif on cryptsy last night saying that MEC was dead and that he dumped all of his.
I'm guessing he's not still involved in MEC?

Hey shell, the Dr. senses you are feeling well this week and Ohiwastedmylif is no longer participating in MEC. Redirect all inquires this way.

What your PR guy told me.. this will take a while, Kimoto, you always miss ETA by a long shot according to him?

you are right lauda that does not sound like a PR guy! Negligible, the contract stipulates 66 years...

[kimoto]

"The real threat to gold is digital, like bitcoin"

Commentary: Bitcoin, or something like it, will be alternative currency  

Yeah, it's called Megacoin...

http://www.marketwatch.com/story/the-real-threat-to-gold-is-digital-2013-07-17

Hey vtr!

Decentralized currencies by definition cannot exist without competition.

Hope you are having a nice day!
-Dr. Kimoto Chan

[Lauda]

What your PR guy told me.. this will take a while, Kimoto, you always miss ETA by a long shot according to him?

you are right lauda that does not sound like a PR guy! Negligible, the contract stipulates 66 years...

Well I didn't belive him tho. So I don't know. Who is handling the people that wanna join the MEC team now?

Excellent news Kimoto.
Is there any way to get a hold of you? Some email or something where you're more active. I know a dev or two who would like to talk some things over. 

Answer this if possible. 

[Mike18feb]

Hey shell, the Dr. senses you are feeling well this week and Ohiwastedmylif is no longer participating in MEC. Redirect all inquires this way.

It seems Kimoto is asking to contact him about the MΣC-Team instead of ohiwastedmylif. Contemplating about the Team, but I'm still very much of a n00b


Why the sudden rise in value? I did notice the network hashrate hasn't been below 100Mh/s since the value stopped dropping. Can't really say what has changed really. It's all a matter between the ears?

[vtr99]

"The real threat to gold is digital, like bitcoin"

Commentary: Bitcoin, or something like it, will be alternative currency  

Yeah, it's called Megacoin...

http://www.marketwatch.com/story/the-real-threat-to-gold-is-digital-2013-07-17

Hey vtr!

Decentralized currencies by definition cannot exist without competition.

Hope you are having a nice day!
-Dr. Kimoto Chan

Kimoto, It always brightens our day hear from you! 

I agree, and believe competition is the engine of excellence. I have liked gold, silver, and other "collectibles" all my life. Sometimes physical items can be impossible to secure. Taxes, bankers, thieves, and all types of middlemen are difficult to mitigate. High quality, digital alternatives offer tremendous security advantages, and portability. Once the world discovers this, well...  Almost makes you wonder if digital currencies could put us back on track to financial responsibility? Will the first government issue digital currency have a limited number?  Will Megacoin make banks obsolete, and prevent our financial destruction? 
I'm a very optimistic person, but the future of world economics holds some rather titanic challenges... The U.S. economy, and jobs are being absolutely destroyed, while our debt is exploding at a record pace. The rest of the world doesn't look much better.

  http://demonocracy.info/infographics/usa/us_debt/us_debt.html

  http://demonocracy.info/infographics/eu/cyprus_crisis/cyprus_crisis.html

  http://www.youtube.com/watch?v=ZuvQRdDJtLA

Best wishes to you, all our Megacoin brethren, and to the success of Megacoin,

V12AMG
Affalterbach West

[Nordstern]

...
V12AMG
Affalterbach West

...wir sollten einen verein gründen... ;-)

[vtr99]

...
V12AMG
Affalterbach West

...wir sollten einen verein gründen... ;-)

Grüß Gott!

[klee]

ΠAOK PE!

[blarg]

i want to hear more about this zerocoin update and what that will mean for the future of megacoin!

[ethought]

i want to hear more about this zerocoin update and what that will mean for the future of megacoin!

If Kimoto can achieve it, which I am sure he can, it will be very beneficial for Megacoin.

For a start no digital currency has been able to integrate Zerocoin as far as I know.

The Zerocoin idea is well known in the larger bitcoin community so if it becomes known that one of the altcoins has managed to integrate it I believe that will be a massive boost for Megacoin.

In short:

• It would put Megacoin in the spotlight - like bitcoin crowd spotlight (not just altcoin crowd)
• By definition would mean Megacoin becomes the first truly anonymous digital currency
• Will get some much needed regular hash power back on board
• It will prove Kimoto is amongst the very best (if not the best) of coin developers
• Price of Megacoin should rocket
• Will make Megacoin even more of a great long term prospect