[ANN] GoldCoin (GLD) - The Gold Standard of Digital Currency | Important Update

[Hydroponica]

soooo, with this update, you hope to make your current holdings, more valuable, before dumping them? Still no word on making GLD useful, eh?

[jackjack]

soooo, with this update, you hope to make your current holdings, more valuable, before dumping them? Still no word on making GLD useful, eh?

It is useful, it is the Gold Standard of Digital Currency!

[MicroGuy]

soooo, with this update, you hope to make your current holdings, more valuable, before dumping them? Still no word on making GLD useful, eh?

It is useful, it is the Gold Standard of Digital Currency!

Thank you for your support. It's very much appreciated!

I'm also working now on producing a series of TV commercials that will depict average/ordinary consumers using GoldCoin as money in their day-to-day lives. My goal is to have these ads produced and aired sometime late in the fall. Ultimately it will be mass consumer adoption that will take GoldCoin™ to the next level. IMO

[Lauda]

soooo, with this update, you hope to make your current holdings, more valuable, before dumping them? Still no word on making GLD useful, eh?

It is useful, it is the Gold Standard of Digital Currency!

Unless you find me services that actually accept them or make them valuable, no.

[akumaburn]

We are almost at block 45000 folks 

[Pmalek]

Yep, just about 400 to go  . Network is pretty strong now..

[MicroGuy]

You now have about 275 blocks remaining to update your clients. Welcome to the new and improved Goldcoin!

[Lauda]

Re-design the forums next step. 

[coinerd]

soooo, with this update, you hope to make your current holdings, more valuable, before dumping them? Still no word on making GLD useful, eh?

It is useful, it is the Gold Standard of Digital Currency!

Thank you for your support. It's very much appreciated!

I'm also working now on producing a series of TV commercials that will depict average/ordinary consumers using GoldCoin as money in their day-to-day lives. My goal is to have these ads produced and aired sometime late in the fall. Ultimately it will be mass consumer adoption that will take GoldCoin™ to the next level. IMO

Why not put some of that effort into making something to use it for?

Until you do all of this PUMP PUMP PUMP basically reeks of a huge fleecing.

EDIT: At this time is there one single thing for a non-miner/non-crypto-trader to do with GoldCoin™ ? 

[akumaburn]

soooo, with this update, you hope to make your current holdings, more valuable, before dumping them? Still no word on making GLD useful, eh?

It is useful, it is the Gold Standard of Digital Currency!

Thank you for your support. It's very much appreciated!

I'm also working now on producing a series of TV commercials that will depict average/ordinary consumers using GoldCoin as money in their day-to-day lives. My goal is to have these ads produced and aired sometime late in the fall. Ultimately it will be mass consumer adoption that will take GoldCoin™ to the next level. IMO

Why not put some of that effort into making something to use it for?

Until you do all of this PUMP PUMP PUMP basically reeks of a huge fleecing.

EDIT: At this time is there one single thing for a non-miner/non-crypto-trader to do with GoldCoin™ ? 

You can do whatever buy/sell whatever you like with GoldCoin™

We are currently focused on the basics, we will be adding services soon.

[pbassjunk]

You now have about 275 blocks remaining to update your clients. Welcome to the new and improved Goldcoin!  

Something beyond 0.6.9.3?

[Lauda]

You now have about 275 blocks remaining to update your clients. Welcome to the new and improved Goldcoin!  

Something beyond 0.6.9.3?

Reduced supply from 500 to 45 per block.

[thekidcoin]

Nice move with the reduction to 45 I didn't even know the fork happened LOL until I started seeing rewards of 45 show up in my balance

[iGotSpots]

How is this 90% reduction to coin generation not obvious to some people as a way to just make this guy a quick buck...?

If you were going to do any of the shit you said you were for the coin you would have already done it. You've had plenty of time.

I call bullshit. People really need to learn when its time to abandon ship and hop elsewhere at the dead end

[Lauda]

How is this 90% reduction to coin generation not obvious to some people as a way to just make this guy a quick buck...?

If you were going to do any of the shit you said you were for the coin you would have already done it. You've had plenty of time.

I call bullshit. People really need to learn when its time to abandon ship and hop elsewhere at the dead end

What guy?
The original developer abandoned ship long ago, he and the early adopters and a big miner (90mh/s if i'm correct, or close to that) hold a lot of coins. Also a few buyers hold quite the numbers (@300LTC buy Cryptsy). I don't think that Microguy or the current dev/supporters have many coins.

[akumaburn]

How is this 90% reduction to coin generation not obvious to some people as a way to just make this guy a quick buck...?

If you were going to do any of the shit you said you were for the coin you would have already done it. You've had plenty of time.

I call bullshit. People really need to learn when its time to abandon ship and hop elsewhere at the dead end

Perhaps because, said people are better informed than you.

1st reason:
GLD's initial goal was to give everyone an opportunity to get in during the super block duration. We had about 3 months worth of super blocks, more than enough time for anyone to get involved.

2nd reason(main reason):
The block reward staying so high for so long was actually a bug introduced by the original developer of the coin. We were producing ~132M coins a year, roughly 132% of the total coins we promised to produce. Obviously this was unacceptable. Thus a block reward drop was absolutely necessary, because there was no other reasonable way to produce the total number of coins we promised to produce.

Had we not had this update, we would of experienced ~1000% inflation in the first year alone, and then 200% inflation every year after and had unlimited total coins.

[kelsey]

How is this 90% reduction to coin generation not obvious to some people as a way to just make this guy a quick buck...?

If you were going to do any of the shit you said you were for the coin you would have already done it. You've had plenty of time.

I call bullshit. People really need to learn when its time to abandon ship and hop elsewhere at the dead end

Actually if you follow my post on here you'll see I've been on the attack of gldcoin and mircoguy quite a bit, but I willing to admit the reduced block size, and resent fixes are a big step in the right direction, and also the market seems to like it.

[Lauda]

How is this 90% reduction to coin generation not obvious to some people as a way to just make this guy a quick buck...?

If you were going to do any of the shit you said you were for the coin you would have already done it. You've had plenty of time.

I call bullshit. People really need to learn when its time to abandon ship and hop elsewhere at the dead end

Actually if you follow my post on here you'll see I've been on the attack of gldcoin and mircoguy quite a bit, but I willing to admit the reduced block size, and resent fixes are a big step in the right direction, and also the market seems to like it.

The higher the price the better it is for you 

[kelsey]

How is this 90% reduction to coin generation not obvious to some people as a way to just make this guy a quick buck...?

If you were going to do any of the shit you said you were for the coin you would have already done it. You've had plenty of time.

I call bullshit. People really need to learn when its time to abandon ship and hop elsewhere at the dead end

Actually if you follow my post on here you'll see I've been on the attack of gldcoin and mircoguy quite a bit, but I willing to admit the reduced block size, and resent fixes are a big step in the right direction, and also the market seems to like it.

The higher the price the better it is for you 

Well you obviously understand the price of everything but the value of nothing.
Being a non zero amount vs ltc, btc, USD (or whatever currency gauge you wish to use) benefits goldcoin in its useablilty. However a higher price is of no benefit to me.

[digitalindustry]

This update lowers the miner rewards

We are proud to announce the latest updated to GoldCoin.

The development team and staff have been working around the clock to make this the very best version to date.

We have addressed a number of issues related to the previous client. The syncing issues and Litecoin upgrade alert have been fixed. In addition, there have been improvements made in the areas of coin generation, block reward, and difficulty retarget time.

For a more in depth look at the changes and an explanation regarding those changes, please take a look at the official patch documentation here:

http://www.gldcoin.com/documents/GoldCoin_Patch_v1.2.pdf

There will be a hard-fork at block 45000 which is currently estimated to occur on August 1, 2013. All current users should update their clients at least 24 hours prior to the fork. It is recommended that you backup your current wallet before performing this upgrade.

To update your client please visit the official website and select the version of the client that matches your operating system:

http://www.gldcoin.com

Join the discussion at GLDTalk.org:

https://www.gldtalk.org/index.php?topic=221.0

From the PDF:

Before fork: 1 block = 2.5 minutes = 500 GLD
After fork: 1 block = 2 minutes = 45 GLD


This means
Before (early adopters): money supply = 200 GLD/minute
After (new adopters): money supply = 22.5 GLD/minute

let me simply explain that - its called a classic throttle -

by lowering the block reward you restrict the money supply , thus there may be naturally less sellers than any poor buyers bilked out of their investment money and the price will appreciably rise.

were upon you can dump your 7 million or so .

its not that much different to rise in interest rates raising the "price" of money , and throttling the economy in some possibilities .