[ANNOUNCE] Ixcoin - a new Bitcoin fork

[bansal]

started at off at a fairly sensible 0.00160000 but looking back at my history I was buying at 0.00360000 then at 0.00320000 I bought 0.10000000 @   0.00250000 just before I went to bed.
Woke up in the middle of the night to check the price on my android phone and it was about 0.00160000 again. This morning it was really low like 0.0006 or something when I was up. I waited until they regained some value and tried to get at least some of my BTC back.

If you for whatever reason you believe in shitcoins then I think it's a little early to be pushing the panic button, it's really early in the game.  I started mining shitcoins for the heck of it this afternoon, got 288 of them now, it is fun to be able to mine blocks solo.  Maybe I'll mine these until the Bitcoin difficulty decrease lol...

[caston]

started at off at a fairly sensible 0.00160000 but looking back at my history I was buying at 0.00360000 then at 0.00320000 I bought 0.10000000 @   0.00250000 just before I went to bed.
Woke up in the middle of the night to check the price on my android phone and it was about 0.00160000 again. This morning it was really low like 0.0006 or something when I was up. I waited until they regained some value and tried to get at least some of my BTC back.

If you for whatever reason believe in shitcoins then I think it's a little early to be pushing the panic button, it's really early in the game.  I started mining shitcoins for the heck of it this afternoon, got 288 of them now, it is fun to be able to mine blocks solo.  Maybe I'll mine these until the Bitcoin difficulty decrease lol...

They might well still be profitable but I'd just rape the exchange for the last of its BTC if I had a large number of ixcoins.

[elpresidente]

Spell 'address' correctly.

Yep. Just realized that. Sorry for wasting your time.

[Tasty Champa]

My only real and valid concern that may have been addressed earlier, is whether or not ixcoin has the kill switch inside, and if so who holds the key to it?

[Chris Acheson]

Definitely feeling down today. Bought them last night then went to sleep. Checked the price and they had crashed. The annoying thing is at one point last night I was a couple of BTC ahead. I should have quit after I noticed the website was a copy of the the bitcoin website. I am hoping to pay down my debts so I can finally start saving to move out of home and I have lost about 55 BTC on this IXcrap.

Sorry to hear that.

To anyone else who's thinking they're going to strike it rich with Ixcoin, I urge you to take a step back and look at the fundamentals of it.  What niche does Ixcoin fill?  What can you do with it that you can't already do with Bitcoin?  Why should merchants bother to accept it instead of (or in addition to) Bitcoin?

[bcforum]

My only real and valid concern that may have been addressed earlier, is whether or not ixcoin has the kill switch inside, and if so who holds the key to it?

Why would it need a killswitch?

The OP mined for two months acquiring 500,000 coins, and modified the client so none of the first 6500 blocks could be replaced by branching the blockchain. If he was smart, he sold as many ITC as possible for BTC and has abandoned the entire project.

[caston]

My only real and valid concern that may have been addressed earlier, is whether or not ixcoin has the kill switch inside, and if so who holds the key to it?

Why would it need a killswitch?

The OP mined for two months acquiring 500,000 coins, and modified the client so none of the first 6500 blocks could be replaced by branching the blockchain. If he was smart, he sold as many ITC as possible for BTC and has abandoned the entire project.

Which is what he probably did in stages some at 0.01 some at 0.007 and so on. At one point I accidentally opened the namecoin exchange on my android phone and thought whoa this is doing well!

Maybe we should have one final bounty... on this guys head

[indio007]

I have the way to do it too. He wants to pretend he's Japanese? We should force him to eat an entire blowfish.

[caston]

I have the way to do it too. He wants to pretend he's Japanese? We should force him to eat an entire blowfish.

What like this?
http://www.bigredfishing.net/images/redBlowFish.jpg

Maybe if it wasn't already taken by OpenBSD we could use this as the projects Mascot!

[Tasty Champa]

My only real and valid concern that may have been addressed earlier, is whether or not ixcoin has the kill switch inside, and if so who holds the key to it?

Why would it need a killswitch?

The OP mined for two months acquiring 500,000 coins, and modified the client so none of the first 6500 blocks could be replaced by branching the blockchain. If he was smart, he sold as many ITC as possible for BTC and has abandoned the entire project.

From what I can tell & have read, IXCoin is Bitcoinwith better rules to fruition. Most of Bitcoin's code is IXCoin's code and Mr Nasakioto didn't state it was removed. Therefore the killswitch should still be in it according to what OP stated. I would assume he would have the key to it, but I'm not acquainted with the working details of the killswitch.

[Xephan]

From what I can tell & have read, IXCoin is Bitcoinwith better faster rules to fruition. Most99.9% of Bitcoin'sIXCoin's code is IXCoin'sBitcoin's code and Mr Nasakioto didn't state it was removed. Therefore the killswitch should still be in it according to what OP stated. I would assume he would have the key to it, but I'm not acquainted with the working details of the killswitch.

Corrected for you

[forexmasterja]

I dont know why you guys have such a negative vibe towards this ... As for me i'm smiling all the way to the bank I'm sorry i didnt see the thread yesterday, I started this morning and so far i'm up 5 BTC after exchanging ususally 24hr of BTC mining for me would give me 1.7btc so i'm just here having a whole lot of fun with this and i've pointed all my mining power at ixcoin for now. So it serves 2 good purposes 1 will help btc difficulty drop and i'm making at least 3 times what i normally would. But hey .. all you haters, please continue doing just that ... and dont mine ixcoin, with less ppl mining the more for me ...

[Tasty Champa]

From what I can tell & have read, IXCoin is Bitcoinwith better faster rules to fruition. Most99.9% of Bitcoin'sIXCoin's code is IXCoin'sBitcoin's code and Mr Nasakioto didn't state it was removed. Therefore the killswitch should still be in it according to what OP stated. I would assume he would have the key to it, but I'm not acquainted with the working details of the killswitch.

Corrected for you

-pimpslaps his typist and now goes on to give his editor a lashin!

why u no fix that 1 space error!
but yeh, your correction is 100X better grammar.
Thanks dude,
Tasty Z Von Snickerlingdolingdolingdolo

edit: shit I guess no one knows.

[caston]

I dont know why you guys have such a negative vibe towards this ... As for me i'm smiling all the way to the bank I'm sorry i didnt see the thread yesterday, I started this morning and so far i'm up 5 BTC after exchanging ususally 24hr of BTC mining for me would give me 1.7btc so i'm just here having a whole lot of fun with this and i've pointed all my mining power at ixcoin for now. So it serves 2 good purposes 1 will help btc difficulty drop and i'm making at least 3 times what i normally would. But hey .. all you haters, please continue doing just that ... and dont mine ixcoin will less ppl mining the more for me ...

Yes what happened is that people with bitcoins like me got sucked into buying worthless ixcoins. Sell them while you can because it is not a sound investment its a pump and dump.

[Mousepotato]

Yes what happened is that people with bitcoins like me got sucked into buying worthless ixcoins. Sell them while you can because it is not a sound investment its a pump and dump.

That's precisely what people said about Namecoin, and now it's at .033 BTC per NMC.

[dancupid]

It's all open source - anyone can do what they like with it. Don't get involved if you don't like it. If it's better than bitcoin it will survive  - if not it will die. I hope more people do exactly the same thing. The more clonecoins the stronger bitcoin will be (unless one of them is better then bitcoin)

Not true, brand dilution is a major problem.

Suppose you are a merchant and have to invest $5k in a new digital currency processing system (POS system). Right now the only choice is bitcoins so you choose a bitcoin compatible system. If there are 5 other digital currencies floating around, you are going to sit on the $5k until one of them 'wins', and then buy in.

Digital currency can be exchanged instantly - if the POS is integrated into an exchange the merchant can accept any digital currency that's available on the exchange

[JohnDoe]

Yes what happened is that people with bitcoins like me got sucked into buying worthless ixcoins. Sell them while you can because it is not a sound investment its a pump and dump.

That's precisely what people said about Namecoin, and now it's at .033 BTC per NMC.

Yeah but Namecoin has an unique advantage to it. This one doesn't.

[simonk83]

Sorry for your loss, but I can't help but point out the ridiculousness of 'early adopters' being the people who bought into this shit in it's first 24 hours. It's gotta be one of the most rapid pump and dumps ever, and people bought in hook, line and sinker. I started calling him out the second I saw it, but no one listens to poor ole' randy.

To be fair, if I'd listened to you, I wouldn't have made what I normally make in 3 weeks in about 4 hours.   I did sell right at the peak so I got lucky, but still

[caston]

I'm pissed because up until now I'd never really lost on bitcoin. I've missed out on all the major opportunities due to buying and selling at the wrong time but somehow i'd always managed to just break even. Now with this I have actually lost money and i'm not happy about it. It's all my own fault yes and obviously I wanted something for nothing but I got nothing for something and I should have seen something like this coming a mile away but I got caught out and I want to rant about it.

[Mousepotato]

Yeah but Namecoin has an unique advantage to it. This one doesn't.

Ok, well then don't mine it.  I took a break for a few hours from mining Bitcoins and mined Ixcoins instead and I'm sitting on a few thousand of them already.  If it takes off, cool.  If not, I missed out on about a half a BTC, or less than five bucks at current exchange rate.  To me, that's an inexpensive risk to take.