[ANN] [SPOT] | SUCCESSFUL FORK COMPLETE - On CoinPayments.net/Cryptsy/Coins-e

[iGotSpots]

Our price will be based on bid price not asking price. That's why I say if you want the price lower in spots then youll have to raise your bids on coins-e

When I said, "I could sell…" I meant at the price and quantities of existing bids.

Look, I'm not trying to fight here. Your numbers didn't match with what you were saying, that's all.

I'm gonna go bid on some Spots. That was the point, right?

No worries, not fighting, just talking. The price I was talking is also including shipping and all other costs to get the bars to the customer

Yea, we need some higher bids. I think 7500 is too many Spots for one ounce of silver when there's only 266,854 Spots total mined so far

I hope the price sky rockets soon... I mined with the intention of buying a few pieces of silver. But only a few thousand, so that doesn't look like it will do me a whole lot of good right now  

The price is so low because people still don't understand how few Spots there are. I would suggest holding onto them. Once people realize there are still less than 280,000 total mined so far, things will change. Especially when they realize the pennies they are bidding on Spots is going to make the silver -> spots ratio way too high. We adjust the silver based on the spots, not the other way around.

Doesn't matter to us if you guys sell them for .00004 or .01, we will make our profits off percentages rather than premine

Definitely holding on to them for awhile... I've been trying to diversify my portfolio a bit more, so I've been holding more than dumping (unless I just don't like the coin.) Actually, I may move some funds around to invest a few more spots. 

They are way cheap still. I can't see them staying there for long or coming back down to this price later on

[smscotten]

They are way cheap still. I can't see them staying there for long or coming back down to this price later on

The problem is the spread. I did put in a bid yesterday like I said I would, and someone bought it and the bid price went back to the same. There's a real psychological barrier when the bid price and the ask price are so far apart. Actually selling at the bid price or buying at the ask price seems like a big deal because whichever price you're transacting at, it looks like you're a chump and could have gotten a better price. When spreads get smaller, prices fluctuate more smoothly and naturally. I'm no expert in markets but I don't think I'm off base there.

[iGotSpots]

They are way cheap still. I can't see them staying there for long or coming back down to this price later on

The problem is the spread. I did put in a bid yesterday like I said I would, and someone bought it and the bid price went back to the same. There's a real psychological barrier when the bid price and the ask price are so far apart. Actually selling at the bid price or buying at the ask price seems like a big deal because whichever price you're transacting at, it looks like you're a chump and could have gotten a better price. When spreads get smaller, prices fluctuate more smoothly and naturally. I'm no expert in markets but I don't think I'm off base there.

You're 100% right. People are bidding too low and the sellers know that and are holding strong. It will get closer once people need to buy them if they want to buy silver from us

[transit]

I'm mining spots @ Vircurex. Not selling ATM, looking forward to exchange for Silver or better SPT/BTC ratio.

What worries me is the high number of Oprhaned coins I'm getting, 187.69979578.

Any ideas why is this?

[iGotSpots]

I'm mining spots @ Vircurex. Not selling ATM, looking forward to exchange for Silver or better SPT/BTC ratio.

What worries me is the high number of Oprhaned coins I'm getting, 187.69979578.

Any ideas why is this?

You have orphaned coins on the pool? Or do you mean unconfirmed? Network seems to be on block 5510 for a long time due to high difficulty

[coinerd]

Just having a little fun with various feeds.

While the link is up you can click to see a breakdown of Spots/BTC/USD/Silver (Troy Oz.):

temporary link

All data for these calculations is loaded real time - the metal price only updates once daily at the provider's end (free/sample access).

[iGotSpots]

Just having a little fun with various feeds.

While the link is up you can click to see a breakdown of Spots/BTC/USD/Silver (Troy Oz.):

temporary link

All data for these calculations is loaded real time - the metal price only updates once daily at the provider's end (free/sample access).

That's cool as hell. Thanks dude nice job. I'll add the link to the OP. Let me know if you change the url

[iGotSpots]

Spots are very quickly approaching .0001 again at https://www.coins-e.com/exchange/SPT_BTC/

[iGotSpots]

Silver Price for August 3rd, 2013: 6608 Spots per troy ounce (includes shipping and insurance to all 50 states and Canada)

[iGotSpots]

Silver Price for August 3rd, 2013: 6608 Spots per troy ounce (includes shipping and insurance to all 50 states and Canada)

Keep in mind we will always use a formula based off the Bid price not the Ask price as well as data from coinchoose.com and coinmarketcap.com to get a fair estimated average

[iGotSpots]

 
 
 

Join in on yet another FREE SPOT GIVEAWAY!  This time I'll hit each of you up with a 10 Spot
https://bitcointalk.org/index.php?topic=267295.0

[#Darren]

What are the preferred gpu's for mining this?

[sumantso]

What are the preferred gpu's for mining this?

Same as in any other scrypt coin, or indeed any coin.

Any ATI card will do fine. HD 7950 seems to be the most popular but depending on your location 7870 may give the best bang for buck.
http://litecoin.info/Mining_Hardware_Comparison

[iGotSpots]

What are the preferred gpu's for mining this?

Same as in any other scrypt coin, or indeed any coin.

Any ATI card will do fine. HD 7950 seems to be the most popular but depending on your location 7870 may give the best bang for buck.
http://litecoin.info/Mining_Hardware_Comparison

Yep. The miner software you use is more important that which card you are using

[Santa.Claus]

At that price im willing to sell a couple ounces,  I think spots are totally undervalued right now.  Spots have some major good things going for them:  No pre-mine, active developer, developer also is a legitimate business owner in real life, real value because you can buy metals with them.

[smscotten]

Well, someone on Coins-e has a bot controlling an ask wall. Every time I put in an order it shifts itself to exactly 0.00000001 less than my ask.

I figure if I keep going like this, eventually we can get an awesome deal on Spots off of this cockspotblocking bot. Creep it down as far as it can go and scarf up all those cheap Spots!

[iGotSpots]

Well, someone on Coins-e has a bot controlling an ask wall. Every time I put in an order it shifts itself to exactly 0.00000001 less than my ask.

I figure if I keep going like this, eventually we can get an awesome deal on Spots off of this cockspotblocking bot. Creep it down as far as it can go and scarf up all those cheap Spots!

That's the good thing about spots being pretty rare still. Looks like the bot only has about 1900 listed. Not sure if he has more waiting to go up for sale but I'll mess with the bot a little and if it looks like he's spotblocking (awesome term BTW) I'll just buy it out to get rid of him

[iGotSpots]

At that price im willing to sell a couple ounces,  I think spots are totally undervalued right now.  Spots have some major good things going for them:  No pre-mine, active developer, developer also is a legitimate business owner in real life, real value because you can buy metals with them.

I agree they are still undervalued. I don't think people are realizing how few spots are out there still.

That being said, the price difference between ask and bid seem to be creeping closer. I knew we would have a somewhat stable price in about a week and it looks like I was right on setting Thursday as our announcement date.

[iGotSpots]

Well, someone on Coins-e has a bot controlling an ask wall. Every time I put in an order it shifts itself to exactly 0.00000001 less than my ask.

I figure if I keep going like this, eventually we can get an awesome deal on Spots off of this cockspotblocking bot. Creep it down as far as it can go and scarf up all those cheap Spots!

I got rid of him

[smscotten]

I agree they are still undervalued. I don't think people are realizing how few spots are out there still.

That being said, the price difference between ask and bid seem to be creeping closer. I knew we would have a somewhat stable price in about a week and it looks like I was right on setting Thursday as our announcement date.

Yeah, I'm less concerned about the actual price than the spread. If the spread closes up, we can see steady growth instead of sporadic fluctuation. So even if the prices are lower now, they'll increase more regularly. At least that's my theory.