Ok, so just quick update on the progress with Spots.
Yesterday, we got added to coins-e, which is great. Now we can get a stable price and move forward with the precious metals program. The two pools are both still up and stable, and our network hashrate is generally around 50 mHash with spikes as high as 300+. So far the client syncing issue some people are having is the only problem we have come across.
Now, to address the gold and silver exchange a little bit more in depth before I actually release any real information:
1) There will be a physical store for Spots to be redeemed for gold and silver
2) Yes, we will have a website and ship to you (obviously)
3) The coin is not called Spots because of my carpet cleaning company. My carpet cleaning company was named Got Spots because I had planned to do SOMETHING with precious metals in the future, and wanted a universal name.
4) It appears some of you may think we are bullshitting with our plans. That's fine, I welcome questions. If I don't have the answer to all of them, that means you brought up a valid point that needed more research, and I thank you for that.
I was explaining a little bit the other day that we need a value set to Spots before we can roll out the gold and silver. The reason is simple...if we started the exchange now, and at current prices, there is only enough Spots mined throughout the whole network so far to sell 2 ounces of gold. That's it, then we would have 100% of the Spots in the network. That's not acceptable. There are still less than 125,000 total Spots mined.
These are rare coins, not a "mine 50 million in a day just to pump and dump for a few weeks"
Here's a few pictures of one of our carpet cleaning stores where the precious metals will get their start. This is the oldest of them and eventually we will move to all 3 locations, but we are going to use our smallest store to get started. I just wanted to prove to you guys that we are serious and already know how to run successful businesses.
If you read all this, then sweet, I'm glad you're on the Spots mining crew!
-Pfeff (iGotSpots)
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FnnXkEr8.jpg&t=665&c=erN9ZSn8aXxFFA)
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FKffzaKL.jpg&t=665&c=EczLW8hpgm4GbQ)