[XPM] [ANN] Primecoin Release - First Scientific Computing Cryptocurrency

[gwedo]

Why do you think Primecoin slumped down so deep this morning?  
 I was buying last week when it dropped below 0.25 becuase I thought it was funnny cheap but when I looked at the price this morning I was shocked. It slumped down without any correlation to bitcoin or XPM mining difficulty (or am I wrong?). How deep it could decline further??

[vinne81]

Why do you think Primecoin slumped down so deep this morning?  
 I was buying last week when it dropped below 0.25 becuase I thought it was funnny cheap but when I looked at the price this morning I was shocked. It slumped down without any correlation to bitcoin or XPM mining difficulty (or am I wrong?). How deep it could decline further??

There's not a single reason why it would stay this high. A month from now we will be at 0.0002 or something, mark my words

[Trillium]

Part of the reason is mcxFEE on mcxNOW. As the market price of 'FEE shares rises people are selling XPM like mad to get in before it bursts. I believe eventually it will stabilize and the market will return to slightly higher XPM exchange rates (but we're never going back to >0.005, I suspect).

[markn]

I think XPM was always overpriced - it shouldn't be that expensive if you can mine it for much cheaper.

But the novel nature of it made it like a lot of noobs weren't able to mine it with a few clicks. There are now many documented ways to mine, including pools, so it's over.
I am now pondering selling my last XPMs, which I kept it case the price ever went up... However renewed interested in a GPU miner (with development financed by big GPU miners) could reduce the supply and thus make it worth a bit more.

I am stone sure it grows back to 0.005 or 0.006 because XPM proved to be strong coin. I wonder how someone couild sell their XPM for current low price only in order to buy expensive MCXfee "stocks" which seems very overpriced now.
I am buying all cheap XPM with all my bitcoins because I believe demand stays at the same level but supply could stop suddenly today or tomorrow and it will cause evaluation at least to 0.005.
I was scared to buy MCXfee for 0.5 BTC because I thought its already too high and for 0.75 its even more overpriced. Why I should buy such "stock" for ONE bitcoin when shares from exchange would generate me only a fraction of % of my invetstment If MCXnow was like bitstamp with licence to exchange coins directly to fiat it would be anything else but MCXnow is not so famous.
However I wish all profits to people who bought MCXfee for 0.1 btc becuase it was risky investment, the price could also go the other way and could drop to 0.01 btc. (what I expected)

[markn]

I guess if altcoins gain interest again, XPM has a chance as a "fast" and "fun" coin. Most others are doomed
As for myself, I'm selling everything newly mined over my current reserve, regardless of price, with Cryptsy auto-sell, for Bitcoins only.

Something is wrong with the world today.
I dont understand it.
This morning MCXfee was about 0.75 and now people are willing to pay 1 BTC for it!!! for nothing!!! People are going nuts. And all my Primecoins declined to 0.0017.   
But I am stone sure it will turn soon to the old order back to the old prices when Primecoin was 10times more expensive and MCXfee was worthless.

[binaryFate]

I guess if altcoins gain interest again, XPM has a chance as a "fast" and "fun" coin. Most others are doomed
As for myself, I'm selling everything newly mined over my current reserve, regardless of price, with Cryptsy auto-sell, for Bitcoins only.

Something is wrong with the world today.
I dont understand it.
This morning MCXfee was about 0.75 and now people are willing to pay 1 BTC for it!!! for nothing!!! People are going nuts. And all my Primecoins declined to 0.0017.   
But I am stone sure it will turn soon to the old order back to the old prices when Primecoin was 10times more expensive and MCXfee was worthless.

When people do mistakes in investing, I would assume they get more cautious, and stick more easily to BTC. I don't know where you assumed that everybody invested in MCXfee will soon go (or go back) to XPM.

[Stinky_Pete]

I think it's because MCXfee promises an income stream, however small. It looks like 'free' money until you take a long, hard look at the numbers.

[jpmi1]

I think it's because MCXfee promises an income stream, however small. It looks like 'free' money until you take a long, hard look at the numbers.

Agreed it looks around 2% annual dividend per fee at the moment.
https://docs.google.com/spreadsheet/ccc?key=0AioqMMSVIC5tdFplWndsdmZuaGxyN01xemxtNWYxVGc#gid=0

[ivanlabrie]

They are fun to trade mainly...might be great if the exchange keep growing at this pace.
Imagine btc-e or mtgox exchange fee shares xD

[amytheplanarshift]

Why do you think Primecoin slumped down so deep this morning?  
 I was buying last week when it dropped below 0.25 becuase I thought it was funnny cheap but when I looked at the price this morning I was shocked. It slumped down without any correlation to bitcoin or XPM mining difficulty (or am I wrong?). How deep it could decline further??

There's not a single reason why it would stay this high. A month from now we will be at 0.0002 or something, mark my words

Sorry to hijack this thread, but user "vinne81" is a scammer and should be marked as such. I was a primary investor in his crypto casino which was taken offline abruptly and my coins stolen (he has also blocked me from sending him personal messages). We had an agreement that if the casino was taken offline that I would have my investment coins returned in full. I am posting here because he has posted in this thread recently and I just want everyone to know not to deal with him because he is a high risk. Thanks for your time.

[vinne81]

Why do you think Primecoin slumped down so deep this morning?  
 I was buying last week when it dropped below 0.25 becuase I thought it was funnny cheap but when I looked at the price this morning I was shocked. It slumped down without any correlation to bitcoin or XPM mining difficulty (or am I wrong?). How deep it could decline further??

There's not a single reason why it would stay this high. A month from now we will be at 0.0002 or something, mark my words

Sorry to hijack this thread, but user "vinne81" is a scammer and should be marked as such. I was a primary investor in his crypto casino which was taken offline abruptly and my coins stolen (he has also blocked me from sending him personal messages). We had an agreement that if the casino was taken offline that I would have my investment coins returned in full. I am posting here because he has posted in this thread recently and I just want everyone to know not to deal with him because he is a high risk. Thanks for your time.

You DID get your coins back, you saying you didn't get my transactions?

Edit. My PXC transaction doesn't confirm, possibly because my client is outdated. Now their own (phenixcoin) website is down. You can't blame me for that now can you.

    {
        "account" : "",
        "address" : "Pbakvb8QTjpSo1of8HTk3Kp7nYr3vBk2ei",
        "category" : "send",
        "amount" : -5100.00000000,
        "fee" : 0.00000000,
        "confirmations" : 0,
        "txid" : "0da8ffb8473ac77c68719779ed6fc52c44a6f33e8dbe990f5274273dc0de112d",
        "time" : 1379397964
    }

[amytheplanarshift]

Why do you think Primecoin slumped down so deep this morning?  
 I was buying last week when it dropped below 0.25 becuase I thought it was funnny cheap but when I looked at the price this morning I was shocked. It slumped down without any correlation to bitcoin or XPM mining difficulty (or am I wrong?). How deep it could decline further??

There's not a single reason why it would stay this high. A month from now we will be at 0.0002 or something, mark my words

Sorry to hijack this thread, but user "vinne81" is a scammer and should be marked as such. I was a primary investor in his crypto casino which was taken offline abruptly and my coins stolen (he has also blocked me from sending him personal messages). We had an agreement that if the casino was taken offline that I would have my investment coins returned in full. I am posting here because he has posted in this thread recently and I just want everyone to know not to deal with him because he is a high risk. Thanks for your time.

You DID get your coins back, you saying you didn't get my transactions?

Edit. My PXC transaction doesn't confirm, possibly because my client is outdated. Now their own (phenixcoin) website is down. You can't blame me for that now can you.

    {
        "account" : "",
        "address" : "Pbakvb8QTjpSo1of8HTk3Kp7nYr3vBk2ei",
        "category" : "send",
        "amount" : -5100.00000000,
        "fee" : 0.00000000,
        "confirmations" : 0,
        "txid" : "0da8ffb8473ac77c68719779ed6fc52c44a6f33e8dbe990f5274273dc0de112d",
        "time" : 1379397964
    }

A simple message letting me know of this would have cleared up all confusion. Also no reason to block messages from me, but fair enough. In the future, just know that you should probably contact your investors before you take such actions. It's just the polite thing to do.

[gwedo]

I think it's because MCXfee promises an income stream, however small. It looks like 'free' money until you take a long, hard look at the numbers.

Yes that is correct. But why should XPM decline at the same time? People still like primecoin, and it was the third cryptocoin which is exchangable for fiat money (USD https://crypto-trade.com/trade/xpm_usd ).
XPM should cost more. maybe 0.01 BTC.
Everyone wants to buy XPM for this cheap price, it must go up.

[roy7]

No coin value can survive indefinitely based on speculators alone. Eventually the coin needs some practical purpose/use/adoption to have lasting value (in the sense of fiat value).

[xenofanesSkarak]

I believe this coin will return back at least to level of 0.0050000 btc.

People should think of investing into cryptocoins in longer terms like half year at least or more years.
You cannot want to make fortune within one week or so.

I expect Primecoin will go high during upcoming weeks because U.S. is going to hit $16.7 trillion Debt Ceiling and USD will decline and other currencies like EUR or Bitcoin will gain more value from this.
Just see buy and sell orders on MCXnow. People want to buy hundreds or even thousands of XPM but only 10times less amount people are selling. It will go high again.

[xenofanesSkarak]

No coin value can survive indefinitely based on speculators alone. Eventually the coin needs some practical purpose/use/adoption to have lasting value (in the sense of fiat value).

Compare XPM with Sexcoin - You can buy thousands products for Sexcoin, but nothing for XPM, and besides it sex industry move the internet.
But XPM is much more expensive and I believe it stays that high for some time.
Its hardly only because of speculators alone.
It is also because developers of XPM are well known and made stable coin with unique and excellent features. And community around coin is also stable and large.

[BitJohn]

Cryptsy XPM markets now open

[hawas]

Cryptsy XPM markets now open

Very interesting addition
XPM is turning into a really strong coin.

[Sunny King]

Cryptsy XPM markets now open

Nice! Thanks for the strong support from Cryptsy team!

[Jriker1]

Theoretical question and a couple other questions.  

If I have a 2 CPU XEON, 24 core total i7 2.4GHz system, how long should I assume it will take for a block to be found?

Also is using the wallet to mine the only way this can be done?  CPUMiner doesn't work?

Are there any pools to mine XPM? Found beeeeer.org (hope got all the e's in there)

Is mining XPM profitable over pool mining with your CPU's against another alt currency?  For example if I had one core of one CPU working in a pool, it will frequently accept work and get credit for it so get a small piece of money.  If I use that same core with XPM, probably never make anything ever.

Thanks.

JR