[ANN] TagCoin - Multi Token Wallet and Trading Platform

[ny2cafuse]

Newegg had stock on Sapphire 280Xs earlier today.  I got all excited until I remembered that I don't have any fiat lol.

If Newegg only took Tagcoin... oh man.

[vesperwillow]

Newegg had stock on Sapphire 280Xs earlier today.  I got all excited until I remembered that I don't have any fiat lol.

If Newegg only took Tagcoin... oh man.

I know right? One day.

[Dabs]

@tagbond, I'll let you know. Waiting for my money first.

@vesperwillow, I can do the "escrow" if you want to buy the cards. I'll get it from Mark, wrap it up, fed ex to you, charge you the same price, and get my 1% or whatever.

@tagbond, I just had this idea. Go put a massive buy order on your own exchange for TAG at the price you think it should be. You can also peg it to the PHP, because most of your business will be from there anyway. Your target market will be PHP businesses right?

See, if you peg it to the USD or BTC (or any other crypto), it will be more volatile. If you peg it in PHP, since that's a fiat currency, the price will be stable no matter what the value of BTC is. And the rate between USD and PHP doesn't change much every week. (It's about 1 USD = 44 PHP).

That way, all the miners will want to sell their TAG on your exchange, and all the other exchanges will follow whatever pricing you put. Yours will be the "standard" price, and all the others will be +/- a few percent, but close, so people doing their day trading can still do it.

Just an idea. Dunno if that makes sense.

[24Kilo]

@tagbond, I just had this idea. Go put a massive buy order on your own exchange for TAG at the price you think it should be. You can also peg it to the PHP, because most of your business will be from there anyway. Your target market will be PHP businesses right?

See, if you peg it to the USD or BTC (or any other crypto), it will be more volatile. If you peg it in PHP, since that's a fiat currency, the price will be stable no matter what the value of BTC is. And the rate between USD and PHP doesn't change much every week. (It's about 1 USD = 44 PHP).

That way, all the miners will want to sell their TAG on your exchange, and all the other exchanges will follow whatever pricing you put. Yours will be the "standard" price, and all the others will be +/- a few percent, but close, so people doing their day trading can still do it.

Just an idea. Dunno if that makes sense.

This is exactly what I was implying when I stated that I would rather see the $50,000 used to support TAG instead of building a mining farm. I am not suggesting currency manipulation by setting an unreasonable price, but say pegging a TAG to $1USD is a very realistic price, 60% below its high of $3USD, keeps mining profitable and tells the world that TAG coin has a real and useful value as currency as intended by its creator, which is what makes TAG unique among crypto-currencies. A crypto-coin with a purpose.

At current prices, I am not going to release any TAG instead I will mine some other rubbish and dump it to pay costs. I suppose that in the end, demand will start to drive the price of TAG upwards as market forces come into play.

I am more than happy to channel all my TAG trades through the TAG exchange, the $15USD deposit and $25USD really makes it difficult to trade small quantities of TAG for fiat. Not sure if these charges can be minimised in any way.

[tagbond]

@Dabs - This is pretty much what we are planning on doing here. We set a price for merchants or customers to buy at in PHP, direct from us or via the exchange at fixed price of 100 Pesos (about $2.50). If it is cheaper to buy from customers that want to cash out their TAG rewards, that is fine, but we will always have a stock of TAG that will sell for that price. Merchants then use that as rewards currency in mTAGs so they last longer..so for 10,000 Pesos they get 100,00 mTAGs, given away for whatever promotions they want have in mind. The cost is minimal for the returns. We set that price and don't price it lower, but as demand rises we reserve the right to move the price higher. If the bigger merchants want to buy using BTC on other exchanges they can do that, but that is a way off - most merchants don't want to bother, in any case that will force the price higher anyway.

We will build rigs like the ones I have, for users that want to mine TAG, and we can broker larger amounts so we have a regular supply to meet merchant demand here, or they can sell it on the exchange to merchants.

All of this should have an effect on pricing on other exchanges, and will probably result in more TAG being sold on our own exchange. If the merchant demand is there, and we don't have enough TAG here, then we have to buy on open markets, which will no doubt move the pricing up. We just don't know yet how much demand there will be...merchants we have spoken to like the idea, but we have to educate quite a bit on cryptocurrency in general.

Just as an aside, now we have separated Tagcash and Tagbond, we are changing the color scheme of tagcash.com to blue - I am sure you can work out why... We have been meaning to do this for a while, as they are 2 different companies with similar codebase. Tagcash is the payments platform. Tagbond is the rewards platform that needs the payment system embedded. Although we are pushing the platforms here in Philippines, some of our staff are going to be targeting businesses via email in the Bay Area and Silicon Valley - tech aware as they are, it should also mean some write ups and more exposure for tagbond, and by extension TagCoin

[tagbond]

@24kilo - regarding charges, we are dependent on the banks for the wire transfer charges - Standard Chartered charges $10 to receive and $20 to send, and we add on $5 to each. Within the Philippines, in PHP there are no charges dealing in Pesos. If we were to open a bank account in USA, that would require me creating a company there, which is not an option right now due to regulatory concerns in USA. So we are stuck with the charges for wire transfers.

Paypal have recently made positive comments about Bitcoin, so we have decided to take in up to $200 ($50, $100 and $200 payments), with a 5% fee taken off each before depositing to the Tagbond account (they charge us 4.4% plus transaction fee). For payouts we can pay out with a $5 fee. However, we can only pay out from the Paypal account as much as in there - we will display the Paypal balance publicly so people know how much is available. With our Philippines Paypal account, we cannot deposit USD from a bank, we have to depend on USD coming in from customers, so no choice on that. We would also require KYC stuff done (govt ID and utility bill, same as for wire transfers) and display a message stating that if any chargeback was to take place, the user would be permanently banned from Tagbond. We have to do this to make sure we are protected. China now has KYC regulations for people trading crypto currency, and even though we don't have it yet, I think it is not far off where exchanges in the West are also required to do the same.

We will work on other emoney systems to get money into Tagbond, but that's what we have at the moment. If anyone has better ideas let me know - it' a problem for all businesses like ours - cannot imagine what Cryptsy will have to do to satisfy banks and regulators in USA...

[Silez]

tag.hashfaster.com is down?

[Dabs]

Bid 99, Ask 101. In PHP. Both orders are worth 1 or 2 million pesos. That will peg your exchange rate until February 2014, I think.

Or Bid 99.99, Ask 100.01. Well, you get the idea.

As for those rigs, PHP35k is a 2 MH/s miner? Reserve me a couple of units, I'm buying after Christmas (when I get my bonus).

[24Kilo]

Mark,

Thanks for the detailed replies. I will explore the exchange further tomorrow. And many thanks!

24Kilo

[vesperwillow]

This has been asked before but I can't recall the answer--is there an explorer which can search for transactions/final balance based on wallet address?

[aleksand]

Mark, if you wonna spread your exchange you can add dogecoin/btc to tagchash. But you should make it quickly and tell everyone about it.

[ny2cafuse]

As for those rigs, PHP35k is a 2 MH/s miner? Reserve me a couple of units, I'm buying after Christmas (when I get my bonus).

I think 2 x 280x would be more lik 1.5-1.6MH.  But 35k PHP is like 800 USD, and a steal on a full rig.  You'd get killed in international shipping and taxes if you had one shipped to the US.

Damn stupid taxes 

[vesperwillow]

As for those rigs, PHP35k is a 2 MH/s miner? Reserve me a couple of units, I'm buying after Christmas (when I get my bonus).

I think 2 x 280x would be more lik 1.5-1.6MH.  But 35k PHP is like 800 USD, and a steal on a full rig.  You'd get killed in international shipping and taxes if you had one shipped to the US.

Damn stupid taxes  

Yeah I'd love to grab the GPU's and/or the rigs for a good rate, but shipping it here makes me wonder if it'll take too much of a hit. Sapphire 280x's are getting 740-780 depending on which model it is. To reach 3mh you'd need 4 of them. Unless it's a 290, which can do close to 1mh per gpu.

My MSI R9 280X rig is 2.2mh, 3 @ 740kh. $300USD per GPU to my doorstep, or $240 if I'm using amazon giftcards.

[tagbond]

What OS are you using to get 750 khs? I can get that using Windows 8, but not with xubuntu..max i get after tweaking is around 550 to 600...

[vesperwillow]

What OS are you using to get 750 khs? I can get that using Windows 8, but not with xubuntu..max i get after tweaking is around 550 to 600...

I'm getting 740ish, using BAMT 1.1 with some tweaks. It's based off of Debian I believe. No undervolting, just stock.

[tagbond]

OK..will try that out..spent quite a bit of time getting the xubuntu to work, so might as well do something with this..I take it you updated it manually since the current version needs latest drivers etc.. Once i Have it up and running, then I can sell individual mining rigs to people here to mine TAG (or whatever else they want, but TAG will be the primary one I will push..)

[techbytes]

OK, my TAG ID is my signature... not sure if I qualify for techbytes give away.

I wish I had coins to give away, but I have just hit 350 coins today. I started mining on TAGmining about the 5th or 6th block and have been pretty persistent ever since, in fact other than mining other coins to turn into TAG, I have been mining TAG and focused on TAG since its release.

I am also concerned about the slump in TAG price, is getting to close to being unprofitable to mine TAG for me. I was going to bring another miner online this week, not sure now.

Thanks!

5 TAG sent.  Four more TAG ID to get 5 TAG each... C'mon, I know you want em...


-tb-

[vesperwillow]

OK..will try that out..spent quite a bit of time getting the xubuntu to work, so might as well do something with this..I take it you updated it manually since the current version needs latest drivers etc.. Once i Have it up and running, then I can sell individual mining rigs to people here to mine TAG (or whatever else they want, but TAG will be the primary one I will push..)

I took the bamt1.1 litecoin image, burned it to USB, and the updating I did was to cgminer, the scrypt kernel and some scripts to my liking. Didn't touch the AMD drivers, since 7950/7970 drivers work for the R9 series (270/280/290).

Out of the box bamt1.1 will run the cards, just not as fast as I'm at right now (3.4.3). I'm about to move to a newer version of cgminer to see how it does.

[24Kilo]

So far I have used 4 different 280X cards...

All are running cgminer 3.6.6 with Windows 7 and AMD 13.9 or 13.11 drivers with 4GB of RAM and Intel Celeron 2.7 core on a Gigabyte GA-B75M-D3H powered by an Antec 750W True Power Classic PSU -

Sapphire Dual-X - 750Kh/s - easily with little no tweaking, like to run hot, ~80C, noisy, undervolted to 1.180 and stable at 1080/1500

Gigabyte GV-R928XOC-3GD Rev 1.0 - 725Kh/s - took some tweaking, runs cooler 76C, can be noisy if fans hit 100%, undervolted to 1.160, 1036/1500, very fussy with GPU speed

Gigabyte GV-R928XOC-3GD-GA Rev. 2.0 - 725Kh/s - pretty much identical to older card, runs about 4C cooler, undervolted to 1.160, 1036/1500, the build quality of this card is in a league of its own.

MSI Twin Frozr Gaming Series - 710Kh/s - runs the coolest, ~71C, runs the quietest, most difficult card to get to 700kh/s, very, very fussy with speeds, 1032/1500, built quality is the lowest of the 4 cards and it is the most expensive and has the least hardware level access. I will not buy any more unless it is the only card available.

My preferred card is the Dual-X since straight from the box it tears along at 750Kh/s and is the least expensive of the lot.

My favorite card is the Gigabyte Rev 2.0, runs cool and quiet and is built like a tank.

[24Kilo]

OK, my TAG ID is my signature... not sure if I qualify for techbytes give away.

I wish I had coins to give away, but I have just hit 350 coins today. I started mining on TAGmining about the 5th or 6th block and have been pretty persistent ever since, in fact other than mining other coins to turn into TAG, I have been mining TAG and focused on TAG since its release.

I am also concerned about the slump in TAG price, is getting to close to being unprofitable to mine TAG for me. I was going to bring another miner online this week, not sure now.

Thanks!

5 TAG sent.  Four more TAG ID to get 5 TAG each... C'mon, I know you want em...


-tb-

Many thanks!!!

Going to spend the bulk of today trying to figure how the whole TAG system works... exchange, wallet, ID, etc and etc, it is huge and confusing. I want to post 50TAG to the exchange to trade or least figure how to do that.