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Author Topic: [ANN] TagCoin - Multi Token Wallet and Trading Platform  (Read 301245 times)
vesperwillow
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February 17, 2014, 11:09:15 PM
 #2461

FortuneSeeker, in trying to keep the TAG thread on topic, move over to here: https://bitcointalk.org/index.php?topic=324938.900

I'll post up some advice for you.


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February 18, 2014, 12:33:39 AM
 #2462

did you even read replies that I/we gave?

You don't need to tell it to mine scrypt.

Start sgminer.exe by itself.

it will ask for a url, give it one.

then a username/worker... give it one.

then a password... give it one.

THEN create a config file by typing "S" then option "W" and enter.

THEN, select the .conf file it created and EDIT THAT.

This is probably the easiest way i can explain it.

cheers.




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vesperwillow
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February 18, 2014, 03:09:49 PM
Last edit: February 18, 2014, 03:20:03 PM by vesperwillow
 #2463

@vesperwillow - we wrote that code, and so far we don't see anything wrong with it. Can you?..As for orphans being created from old confirmed blocks, we are at a loss as to explain this. Can you say what other coins this is happening to?

1) As ahmed posted several already, I would add Potcoin and Digibyte to the list. I don't have my list with me at work, but I have noted that with pot and the ones ahmed posted, occasionally there would be a block (or 2) confirmed long ago, suddenly go orphan. The one thing I noticed between all of these coins is that these orphans all occured around the same timeframe as eachother, despite being separate coins on separate networks. 5 or 6 coins all having that happen at once..that begins to exceed coincidence in my eyes, but I haven't gathered enough data to prove it as anything more than a striking lottery's chance of coincidence. It seems like the coins not based on litecoin are having the issue more than others.

2) If I had time to fully digest and test the code, I would do so. I broke it almost all the way out to the basic math, but never got a chance to complete it. It would almost be easier for me to simply change the timestamp on one of my private pools and see if I could force the issue myself. And if I do find an exploit of that level, what then?

Like some other pools have done in the recent past, it may be worthwhile to simply push 500mh or a gigahash or more at the inverted timeframe, and suck the profits from the rest of the network. Unless you're confident the code doesn't have an issue with the negative retarget.

Of course, we all hope for that I'm sure.

3) Also I remember you stating that with POS a network hash monitor wouldn't be viable; since you've discussed removing POS, would you add one then?

4) There were many updates, more frequent, prior to your business trip regarding the current status of the TAG project as a whole and where it was going, but so little since then. What's the situation?

5) For network confirmations, what's the suggested number, and why?

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February 19, 2014, 02:16:35 AM
 #2464

Yeah, I think POS is causing problems. When you remove it, there will be a fork, because a lot of clients will still not be updated. If everyone just puts

Code:
reservedbalance=10000000

in their tagcoin.conf file, that would effectively do the same thing.

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February 20, 2014, 07:37:15 AM
Last edit: September 26, 2014, 08:01:33 AM by tagbond
 #2465

@Dabs - POS is not causing any problems, it is working fine. No plans currently on removing it, and no plans yet to introduce yet another forked version just to make sure people upgrade.

@vesperwillow - I update when there is news - we are working on quite a few things, but will post when we have something worth posting about. Here's an update so far.

Something we created recently - http://vskype.com, is a site like preev.com, giving you a quick valuation of TAG (we will add BTC in the next couple of days), against 9 Fiat currencies.

- We have 8 sales people selling the Tagcash platform to merchants.
- miskio.com - ebay/sulit type of site for buying and selling goods, using Tagcash
- vtc.com and eduslide.com, will introduce a nanopayment system, paying for individual lessons.

We have other sites and apps we are building, and partners that are using Tagcash as well.

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February 23, 2014, 03:00:47 AM
 #2466

I have reopened mining on Tagmining.com.  We'll see how this goes.  After many updates and code changes, I'm pretty sure we'll be running solid.  So:

Tagmining.com is mining again.

-Fuse

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February 23, 2014, 07:26:53 PM
 #2467

Going with the idea that the issue could be that users are using the incorrect wallet version, I have started to look into what it would take to get this straightened out.  I have found the following post from the spots thread:

If you are can compile your own client, you can edit main.cpp lines 2373 and 2474 to this:

Code:
        if(pfrom->nVersion != 60080)
            badVersion = true;

That will only allow peers on 60080 protocol to connect, getting rid of all other chains, but also limiting you only to people running the 60080 protocol version of Spots

Essentially this blocks node connections if the protocol number doesn't match what you set it to.  I've noticed in the Tagcoin code as well that the code in the version.h was changed to allow older versions "for now".  I'm not sure why this would be allowed if the older versions are suspected of being the issue with the orphans.  Shut them out and move on... period.  At least eliminate that variable from the orphan equation.

So I went through and forked the tagcoin code to another github repo, changed the code to only allow versions 1.0.4 and higher, and submitted a pull request.  I know that Mark and the team have the say on this kind of stuff, but I'm taking the connections to my pool in my own hands.  Pool ops, you are more than welcome to use this code if it doesn't get pulled into the main code.  It can be found here:

https://github.com/ny2cafuse/tagcoin

While investigating this, I marked down some IPs that were using the wrong client version.  They went back all the way to 1.0.2.  So yeah, people are dopes and haven't updated.  They are as follows:

162.217.76.228      162.217.76.228.3wave.net
86.15.162.44         cpc23-alde4-2-0-cust43.6-2.cable.virginm.net
91.143.109.221      221-109-143-91.grazkom.at
198.23.230.253      host.colocrossing.com
95.85.33.207         scrypt2.megamultipool.com
24.55.2.13            82-149-230-110.static.aixit.com
82.149.230.110      cpe-24-55-2-13.austin.res.rr.com
96.236.44.79         pool-96-236-44-79.albyny.fios.verizon.net
162.217.76.228      162.217.76.228.3wave.net

If those IPs or DNS host names look familiar, as in they are yours, update your damn client.  Notice the one in red?  That's the megamultipool mining pool.  I have contacted the pool OPs there to update their wallet.

If I came across as brash, I'm sorry, but this is getting old.

-Fuse

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February 24, 2014, 03:17:39 AM
 #2468

I have a suggestion:

Include code in the client to alert the user if it detects another node claiming to have a higher version number. No need for alerts. The client will just have a little warning (but it should not shut down on its own.)

There is the possibility that some malicious people will release a "fake" client with a higher version number ahead of the official client, and this will cause everyone else that connects to it to get a warning; false alarm.

And oh, devs, coin control? Smiley

I got a dozen 270Xs, I should be able to set them up this week. However I don't have enough risers and need to order more.

My first rig doesn't seem stable, one GPU ends up getting sick every other hour or something, so I put the entire rig on a timer. It turns off for 1 minute every 2 hours. Sort of like it hit reset and reboots.

I need to find a way to do this only when the GPU goes SICK or below a certain hashrate, but the closest thing is CGWatcher and that's a Windows .net app. Has anyone managed to make a BAMT compatible equivalent?

I know I can do a cron job to do the same thing as my timer. I need something smarter, something like: If any GPU = sick, then restart, and if any GPU hashes below 400 khs (or whatever value you like) for longer than 60 seconds, then restart.

The R9 270s I use normally hash at least 470 khs, so if they go below 400 it means they are getting sick or overheating or something. A restart cures it.

I'll keep the timer there anyway, nothing beats a true hard reset (it basically unplugs the rig for 1 minute.)

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February 26, 2014, 11:03:15 PM
 #2469

I just downloaded the newest version, now I see a part of my coins under 'stake' instead of under 'balance'.

I know there is a command to fix this, but I can't find it. Does anyone know how to fix this?

{Curently quite inactive as I'm really busy in my private life. I will get back soon!}

-> Your line here during my inactivity? Feel free to PM <-
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February 27, 2014, 02:13:55 AM
 #2470

I just downloaded the newest version, now I see a part of my coins under 'stake' instead of under 'balance'.

I know there is a command to fix this, but I can't find it. Does anyone know how to fix this?

Put this in your tagcoin.conf file:

Quote
reservedbalance=10000000

That's not a fix, it just prevents that amount of coins from being put under 'stake'. So, you won't be making any POS blocks (but you also won't be earning 1.5% per year.)

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February 27, 2014, 11:37:51 PM
 #2471

hi, continuous problem with orphans?
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February 28, 2014, 12:18:04 AM
 #2472

hi, continuous problem with orphans?

Yep...

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February 28, 2014, 02:13:06 PM
Last edit: February 28, 2014, 11:04:28 PM by centurion76
 #2473

Added some basic translation to TagYak.org

If you think any additional languages would be beneficial let me know and I will add them.

Edit: Update: I gave the site a facelift while I was at it. Wink

---> https://earthazaar.com <---      ---> https://darkbids.com <---     ---> http://bitlows.com <---
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February 28, 2014, 08:03:58 PM
Last edit: March 02, 2014, 04:58:44 AM by werneo
 #2474

Hi Mark -

I have ~50 TAG in my Tagbond account. At this time I am unable to withdraw it.

I go to this page:
http://tagbond.com/credit/user#walletTransferModal
... and click TRANSFER

I select WALLET ADDRESS and enter my deposit address here TBvpeYkbv97CSfCdNiWzr4kmd4Z53c84ZK

Then I add the amount I wish to withdraw, and click TRANSFER.

The progress bar starts, but then stalls half way through.

I have tried this repeatedly. All errors.

Can you look into this?

Thanks
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March 01, 2014, 06:10:30 AM
Last edit: March 01, 2014, 06:38:14 AM by knektlife
 #2475

I have written in this thred once before without success. I once again want to raise the question of what is going on with tagcoin. I have not mined it or quite a while, but I have some coins put away because I believed in this. A coin that was backt up with a real company that was trying to accomplish great things for the future. I believe yout coin had a great chance of becoming someting, something with real value.

What Iam lookiing for now is an update from the development team. Are you focusing your efforts on other things or does tagcoin still have a priority with you gous? The price is in an awful downward trend, but that is quite logical due to what is happening with the coin.

I just took a look at 3 pools mining tagcoin and here are some examples

http://tag.hashfaster.com 32 found , 5 orphan - 15.63% orphans
botpool.net  3 of latest 30 block are orphans = 10% orphans
cryptominer.net 7 of the latest  100 is rounds orphan   =7%

Im just curious what your next move will be, I do not want to get stuck with a bunch of tagcoins that I mined at a much higher difficulty than what it is now.

So Mark, do you consider these orphan rates "normal" or are you going to take som action to try to change what is happening now? Im not up to speed on all altcoins, but an orphan rate between 10-15% does not look right to me.

Please consider the issues and the consequences they may bring, and do what is right for your business . Business is business, if you lost interest in tagcoin I will not blame you. If you do not want to make an public announcement of your plans (if you have any) i would appreciate an pm.

What do you other people think of the situation? ( I mean peaople with no connection to tagcoin, who is mining or have bought a stack of tagcoins?) Hold, buy sell? I would hate to sell those tags for 50-60 USD pennys, but if nothing happends I dont believe TAG is coming back as a stronger currency.

The floor is open, I would appreciate a response from the tag coin developmnet team, but also opinions and suggestions from other people that holds TAG or is intrested in the subject. Thanks in advance. (I hope I have not stept on anyones toes with my comments,supcicions and wonderings)

Think about it and goodnight!

Regards; knektlife

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March 01, 2014, 10:32:24 AM
Last edit: September 26, 2014, 07:58:14 AM by tagbond
 #2476

@werneo - we tend to not leave much in the hot wallet, but I added some so that you can withdraw. We will keep a closer eye on keeping the hot wallet loaded with enough for smaller withdrawals, but this week we will change the notification given when withdrawing when there is not enough there for immediate payouts, and manage the process manually. We keep TAG in cold wallets, to avoid temptation for hackers...

@knektlife - I already posted an update as to our activities, on this page or previous. Tagcoin is a small part of our entire business and I am sure a lot of people would want to us to accelerate what we are doing to promote TAG so they see their investments grow. However, we see it as a live rewards currency that should be used, not hoarded. The value means little to us - we want to simply allow merchants to use it as a way to reward customers. As the demand grows from merchants, primarily here in the Philippines, then of course the price should go up, but that is not our primary goal. We just want a independent rewards currency for use within our platform. If the community or anyone holding TAG want to see the price rise, then they need to encourage retailers and anyone they know to use it in real life...not just depend on BTC priced linking, idle speculators or Tagcash. Everyone here deals with retailers, coffee shops, businesses every day. Are you suggesting to them that they use Tagcash or TAG as a rewards currency?..Ask yourselves, what are you doing to promote your investment? If you want to see TAG grow, then sign up on Tagcash and get everyone you know to sign up too, get businesses to start using the system and you will see it grow with use. Just sitting there and expecting us to do all the work...well...this is a community. Either use our API to build something that uses TAG, or help us build Tagbond and associated websites. Enough ranting ...:-)

Our primary focus is on Tagcash right now, and within that, the cash wallets that will be used in the Philippines. That should increase awareness of TAG but it will take some time.



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March 01, 2014, 04:42:11 PM
 #2477

Hi Mark,

I'm with Tagcoin since the very beginning. I really like the idea of the coin and after some time I also noticed that the dev team is really commited to the whole idea. I really noticed that TAG is a coin which is really supported by developers.

Now, after the whole thing with orphans began, I must say that I'm really disappointed with your attitude.

To be completely frank, I don't care right now how much will I get for 1 TAG. I'm talking about how you are dealing with a big issue that is affecting the fundamentals of your whole idea.
I know that you also don't care much about the exchange rates, I know that you're trying to have much higher level view, but please take into consideration that coin you've developed has issues and they should be fixed!
You say that currently you are focusing on other things like Tagcash and you hope that TAG will someday become reward coin. Do you really think that merchants would like to deal with a coin that has such issues?
Do you really think that when the clear message about orphans and possible "hacks" behind it, will be heard by managers of merchant companies, they will be keen to make business with you?
I really doubt it.

I think that if you developed something and you notice that clearly there is something wrong going on, you should focus on fixing things and then moving forward to do some new stuff.
You seem not to listen to some ideas given here on the forum (for ex. a message within the client telling people to upgrade). I don't think this is a good way of doing things. Of course that's just my opinion.

I really appreciate the good work you've done to develop this coin. Please don't ruin this by focusing on something and not seeing the potential issues that are currently disturbing the whole image of Tagcoin.
I repeat once again, I'm not saying all of this because I would like TAG to be more profitable. I'm saying this because I would like to mine a coin, which is reliable. I don't want to see 15% (or so) of orphans all the time. This issue is not fixed and you know it.
Currently you have a lot of supporting people, who are willing to be part of this. By acting as you currently do, you might lose them all.

I'm not saying this because I want to offend you or something. I don't want to tell you what you should do. If you felt so then please accept my apologies.
I just hope that you change your mind and try to move your resources to fix the orphans issue.

Cheers,
KuBuR
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March 01, 2014, 06:44:29 PM
 #2478

I'd like to point out that, according to Mark in the beginning, TAG was a large part of their business and what they're doing. Now he's saying it's a small part? The backbone to your business model can't be a small part. Downplaying the backbone is an immediate indicator that someone is trying to shift focus.

The value means little to the business? Of course that's a fact, because if the value was $5/tag you couldn't sell it for profit. And you encourage folks to spread the word and raise the value, this is true and makes sense, but it's also not our job to do that.

Sounds like some fluffing has been going on for awhile with the community. I'm finally going to throw some stuff out on the table for everyone to consider. Keep in mind, I have about 3 pages worth of data points along with timelines, but am condensing everything into a few paragraphs to make it easier to digest.

Speculating here, BUT, I think what's going on is simple...

First, the rough timeline, and then beyond this the TLDR explanation:

Inception->December:
Mark builds TAG up bigtime, things are established, and straightway the value is stabilized fairly high
Very active TAG folks, more than just one apparent "TAG" employee were in the thread originally (now vanished)
No network issues despite the calculated network hashrate being high and growing
People are curious why there's no network hashrate monitor (though you can reverse engineer one somewhat)

December->January
TAG starts climbing in value more, and more
Mark announces a business trip and leaves, which makes the value go up even more
Shortly after being airborn, network comes under "some sort of attack", looks like an RPC DDOS
Lots of technical issues arose suddenly during his absence
Value of TAG drops
Mark discourages programmers from discussing what could be wrong, because their "expert developer" has proven the code is perfect
Orphans are rampant, along with previously-confirmed-blocks being orphaned later on
People are still curious why there's no network hashrate monitor (though you can reverse engineer one somewhat)
Mark explained with certainty that POS was causing the issues, and would be removed
The downward trend of TAG value stabilizes, lots of people mining and holding waiting for the "fix"


February
The long awaited "fix" to the problems is put in place
Shortly after, value goes up on the markets as people's confidence increases
Some issues are mitigated, but there's still notable issues
It's discussed among some others, including other coin devs, that POS should be removed and/or old clients should be disconnected
Mark quietly stops talking about removing POS
Value of TAG begins dropping again
Mark's presence in his thread is sparse, mostly regarding pool OPs complaining about issues
TAG value hits all time lows, but the network difficulty remains stable with more upward trends than downward ones

Additional point for consideration
The known public hashrate doesn't come close to the calculated hashrate, nor the difficulty. This has to mean 3/4 of the network rate is private/unknown.

The TLDR version of everything is this:

Mark is out to make money, whether it's long term or short term, and he's good at it. Nothing wrong with that, I support that. With the community value of TAG low, he can buy it up and hoard it for cheap--he has a cheap source. Keep 'hoard' in mind as you read this. Then, he resells at virtually 3-5x the price (or whatever the case may be) to the retailers, essentially putting it officially "in circulation", with a nice margin of profit. While stability of value makes things easier, the more important thing is the value doesn't increase beyond a certain threshold, otherwise he has to rely on self-mining and deal with that overhead. This means if the value of TAG begins to encroach upon a certain level, or goes over it, the market value of TAG has to be dropped somehow in order for the business model to be viable.

His business model requires a rewards transport mechanism which has fractional value, preferably a mechanism which requires hardly any upkeep or money to keep the momentum going. What better system than a community-mined crypto coin? To supplement and secure the transactions, he also has his own mining farm, either physically and/or has hired some hashpower to do it for him, giving them a cut of the margin.

With this system you want (and need) to build up the business end and other areas, once the coin has pretty much established itself and is being processed by the mining community. Orphans, network issues and many other things can cause the market value to drop. This is bad for pools/miners. Does it affect the business-end? No, nor will they care, because transactions are occurring regardless. In fact, the lower the market value the better, because the END customer is not in the crypto-world, they're purchasing TAG at a set value with no regard to the market value.

It would be like buying bags of Skittles Candy (pic) and selling them individually to unknowing folks, for huge markups, as special happy pills. So when an issue is identified with POS, and the creater/owner of the coin admits there's a problem and says it should be removed, but then doesn't remove it.. that was another interesting point for me to note. If someone had a large hoard of coins, 100k or more, they would be earning 1,500+ with POS. Not much, but still it's "free" coins. So they would get hurt with POS removed.

It's interesting to note that the community asked for POS to be removed, but it still hasn't been. Also, remember how part of the problem was to prevent older clients from connecting? That hasn't been implemented either. Gee, that's weird isn't it?

Now, think about this. You want to hurt the coin? Mine and dump it. That will settle its' value down low.. down to 0.00000001 even. That's low! But guess what? That doesn't hurt the TAG business model! That's the intrinsic beauty in Mark's system (kudos). That only hurts the mining community's paycheck for doing TAG's work. The TAG owners will still sell that .00000001btc valued TAG for $2. Essentially, the bitcointalk mining community then becomes the super-cheap sweat-shop labor force for the Nike of the Crypto world. If you're fine with that, then that's cool, but i just think it's worth pointing out. The only thing which hurts the business model is TAG which has a high market value (.002 or more at the time).

The system is designed to essentially be exponentially-self-rewarding for its owners. Not the mining community, and not the retailers.

In the end, you have a business model which relies on super duper cheap (practically donated) transaction power (hence, the TAG pools), producing coins which are losing value even as I type, which are then resold as a hard unit to customers at a much higher--static--price, helping to line the business' coffers with decent margins. It then makes for a GREAT business to be re-sold, showing large profit margins on paper... perfectly planned and executed venture capitalistic project. TAG worth 1 penny sold for $2? Done. TAG worth a ten-thousandth of a quid sold for $2? Done. You see how that works?

I'll leave additional speculation up to everyone else, but I think from a business standpoint, Mark has done quite a job, and should be praised. As to the mining community, if you want to save electricity, mine something else, or everyone needs to set the market value of TAG super high. Everyone could stop transacting TAG and it would continue because with how many coins Mark likely has, and with how few retailers are involved, there doesn't need to be alot of hashpower right now. I'm sure his own farm would work fine.

END TLDR version.


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March 01, 2014, 08:19:36 PM
 #2479

I'd like to point out that, according to Mark in the beginning, TAG was a large part of their business and what they're doing. Now he's saying it's a small part? The backbone to your business model can't be a small part. Downplaying the backbone is an immediate indicator that someone is trying to shift focus.

The value means little to the business? Of course that's a fact, because if the value was $5/tag you couldn't sell it for profit. And you encourage folks to spread the word and raise the value, this is true and makes sense, but it's also not our job to do that.

Sounds like some fluffing has been going on for awhile with the community. I'm finally going to throw some stuff out on the table for everyone to consider. Keep in mind, I have about 3 pages worth of data points along with timelines, but am condensing everything into a few paragraphs to make it easier to digest.

Speculating here, BUT, I think what's going on is simple...

First, the rough timeline, and then beyond this the TLDR explanation:

Inception->December:
Mark builds TAG up bigtime, things are established, and straightway the value is stabilized fairly high
Very active TAG folks, more than just one apparent "TAG" employee were in the thread originally (now vanished)
No network issues despite the calculated network hashrate being high and growing
People are curious why there's no network hashrate monitor (though you can reverse engineer one somewhat)

December->January
TAG starts climbing in value more, and more
Mark announces a business trip and leaves, which makes the value go up even more
Shortly after being airborn, network comes under "some sort of attack", looks like an RPC DDOS
Lots of technical issues arose suddenly during his absence
Value of TAG drops
Mark discourages programmers from discussing what could be wrong, because their "expert developer" has proven the code is perfect
Orphans are rampant, along with previously-confirmed-blocks being orphaned later on
People are still curious why there's no network hashrate monitor (though you can reverse engineer one somewhat)
Mark explained with certainty that POS was causing the issues, and would be removed
The downward trend of TAG value stabilizes, lots of people mining and holding waiting for the "fix"


February
The long awaited "fix" to the problems is put in place
Shortly after, value goes up on the markets as people's confidence increases
Some issues are mitigated, but there's still notable issues
It's discussed among some others, including other coin devs, that POS should be removed and/or old clients should be disconnected
Mark quietly stops talking about removing POS
Value of TAG begins dropping again
Mark's presence in his thread is sparse, mostly regarding pool OPs complaining about issues
TAG value hits all time lows, but the network difficulty remains stable with more upward trends than downward ones

Additional point for consideration
The known public hashrate doesn't come close to the calculated hashrate, nor the difficulty. This has to mean 3/4 of the network rate is private/unknown.

The TLDR version of everything is this:

Mark is out to make money, whether it's long term or short term, and he's good at it. Nothing wrong with that, I support that. With the community value of TAG low, he can buy it up and hoard it for cheap--he has a cheap source. Keep 'hoard' in mind as you read this. Then, he resells at virtually 3-5x the price (or whatever the case may be) to the retailers, essentially putting it officially "in circulation", with a nice margin of profit. While stability of value makes things easier, the more important thing is the value doesn't increase beyond a certain threshold, otherwise he has to rely on self-mining and deal with that overhead. This means if the value of TAG begins to encroach upon a certain level, or goes over it, the market value of TAG has to be dropped somehow in order for the business model to be viable.

His business model requires a rewards transport mechanism which has fractional value, preferably a mechanism which requires hardly any upkeep or money to keep the momentum going. What better system than a community-mined crypto coin? To supplement and secure the transactions, he also has his own mining farm, either physically and/or has hired some hashpower to do it for him, giving them a cut of the margin.

With this system you want (and need) to build up the business end and other areas, once the coin has pretty much established itself and is being processed by the mining community. Orphans, network issues and many other things can cause the market value to drop. This is bad for pools/miners. Does it affect the business-end? No, nor will they care, because transactions are occurring regardless. In fact, the lower the market value the better, because the END customer is not in the crypto-world, they're purchasing TAG at a set value with no regard to the market value.

It would be like buying bags of Skittles Candy (pic) and selling them individually to unknowing folks, for huge markups, as special happy pills. So when an issue is identified with POS, and the creater/owner of the coin admits there's a problem and says it should be removed, but then doesn't remove it.. that was another interesting point for me to note. If someone had a large hoard of coins, 100k or more, they would be earning 1,500+ with POS. Not much, but still it's "free" coins. So they would get hurt with POS removed.

It's interesting to note that the community asked for POS to be removed, but it still hasn't been. Also, remember how part of the problem was to prevent older clients from connecting? That hasn't been implemented either. Gee, that's weird isn't it?

Now, think about this. You want to hurt the coin? Mine and dump it. That will settle its' value down low.. down to 0.00000001 even. That's low! But guess what? That doesn't hurt the TAG business model! That's the intrinsic beauty in Mark's system (kudos). That only hurts the mining community's paycheck for doing TAG's work. The TAG owners will still sell that .00000001btc valued TAG for $2. Essentially, the bitcointalk mining community then becomes the super-cheap sweat-shop labor force for the Nike of the Crypto world. If you're fine with that, then that's cool, but i just think it's worth pointing out. The only thing which hurts the business model is TAG which has a high market value (.002 or more at the time).

The system is designed to essentially be exponentially-self-rewarding for its owners. Not the mining community, and not the retailers.

In the end, you have a business model which relies on super duper cheap (practically donated) transaction power (hence, the TAG pools), producing coins which are losing value even as I type, which are then resold as a hard unit to customers at a much higher--static--price, helping to line the business' coffers with decent margins. It then makes for a GREAT business to be re-sold, showing large profit margins on paper... perfectly planned and executed venture capitalistic project. TAG worth 1 penny sold for $2? Done. TAG worth a ten-thousandth of a quid sold for $2? Done. You see how that works?

I'll leave additional speculation up to everyone else, but I think from a business standpoint, Mark has done quite a job, and should be praised. As to the mining community, if you want to save electricity, mine something else, or everyone needs to set the market value of TAG super high. Everyone could stop transacting TAG and it would continue because with how many coins Mark likely has, and with how few retailers are involved, there doesn't need to be alot of hashpower right now. I'm sure his own farm would work fine.

END TLDR version.



vesperwillow
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March 01, 2014, 08:58:51 PM
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Cheesy

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