[ANNOUNCE] Ixcoin - a new Bitcoin fork

[smoothie]

I think Thomas is unloading some of his Ixcoins for BTC. I am hard pressed to believe he would hang on to them for very long.

Those were dumped in the first day when there was 400000+ of volume on the exchange never seen over 200000+ after that...

If you watched the market that day the market only went up. So if he was dumping coins on the market two would the price go up? It would go down because of oversupply. I'm sure Thomas is smart enough to know not to make huge trades on the exchange. But I am sure he is cashing out over time. 580k coins come on that's alot of money made in less than a week worth of official public mining.

Well when demand for is greater than supply the price goes up or that is what they taught me in economics class anyways...

Edit: And I would add the only way for all them coins to be there on first day would be from him it would not have been possible to have all been mined by others.

In the first 24 hours 1,000,000 Ixcoins were mined. What are you talking about? Exchange came like 9 hours after the inital announcement of the new network. Where are you getting your numbers from?

[wallet.dat]

At some point IX will no longer be worth trading and then what use is there left for IX?

Sorry, this is patently wrong.  See my previous reply in this thread.


(Unless of course you're referring to Bitcoin itself collapsing)

[kano]

At some point IX will no longer be worth trading and then what use is there left for IX?

Sorry, this is patently wrong.  See my previous reply in this thread.


(Unless of course you're referring to Bitcoin itself collapsing)

No I am only referring to IX.
What value do IX have other than exchange for BTC?

The issue is BTC<->Currency not how to trade BTC for some other clone coin.

Why would people want IX once it's perceived value drops? So they can launder BTC?
There are other clone coins to do that and I can't see that as it's only future as a method to keep the price from dropping to zero.

[mrbashfo]

if the IX collapse I feel like we mined for no reason.

[smoothie]

if the IX collapse I feel like we mined for no reason.

LOL I didnt mine for no reason. I was able to scrape BTC off the exchange for Ixcoins I generated on the first day.

[eskamobob1]

isnt bitcoin mining far more profitable than ixcoin mining as of right now? with the current exchange rate @ 1500MHash/s you make $9.02 a day from BTC mining but only $7.30 a day from ixcoin mining... IXC is also extremely unpopular compared to BTC and is not anywhere nearly as widely accepted (not that BTC is, but what does that say about IXC?)... so will someone tell me what the point is in mining IXC as of right now?

[coblee]

Yeah, ixcoin mining is really unprofitable right now compared to BTC. I'm surprised to see that http://ixpool.bitparking.com/pool still has a hashrate of 120 mhash/s. If you really wanted IXC right now, just mine BTC and then exchange them for IXC or buy them on the exchange. Given that there's no other use for IXC (unlike NMC), I don't see the need to own any IXC unless you are speculating and think the price will go up. But then again, why would the price go up. Ixcoin is not really adding any value on top of bitcoins.

[smoothie]

Yeah, ixcoin mining is really unprofitable right now compared to BTC. I'm surprised to see that http://ixpool.bitparking.com/pool still has a hashrate of 120 mhash/s. If you really wanted IXC right now, just mine BTC and then exchange them for IXC or buy them on the exchange. Given that there's no other use for IXC (unlike NMC), I don't see the need to own any IXC unless you are speculating and think the price will go up. But then again, why would the price go up. Ixcoin is not really adding any value on top of bitcoins.

+1

[Nasakioto]

A fix was committed to address the concerns about the hard limit at 21M ixcoin. Thanks Genjix.

https://github.com/ixcoin/ixcoin/commit/7110ddf25667f059ebcee159963b6703fff53e13

If you have any comments/suggestions/reservations concerning this, please respond or post on http://ixcoin.org/forum.

To prevent manipulation errors with Bitcoin/Ixcoin addresses, Bitcoin addresses starting with 1 are now invalid. In the future, we might need to block out more addresses if Bitcoin starts using other address versions.

https://github.com/ixcoin/ixcoin/commit/1adddc0b6d57f7431611322df8df1a33f79d7727

In other news, first Ixcoin escrow at http://www.ixcrow.com and a Russian exchange appears to be gearing to start offering Ixcoins https://btc-e.com/ixc_exchange

[smoothie]

With prices plumetting 66% of its value in 24 hours I'm not sure ixcoins is the best investment for mining or buying a virtual currency. With difficulty rise just around the corner I find it hard pressed to see the exchange rate rise above the profitability of the other markets.

[jtimon]

A fix was committed to address the concerns about the hard limit at 21M ixcoin. Thanks Genjix.

https://github.com/ixcoin/ixcoin/commit/7110ddf25667f059ebcee159963b6703fff53e13

So is it the opposite of steadyCoin again instead of just an implementation of otherCoin ?

Still don't like it.

[jackjack]

To prevent manipulation errors with Bitcoin/Ixcoin addresses, Bitcoin addresses starting with 1 are now invalid. In the future, we might need to block out more addresses if Bitcoin starts using other address versions.

So people are dumb enough to put bitcoin addresses in ixcoin but not dumb enough to put namecoin addresses in ixcoin...?

[coblee]

To prevent manipulation errors with Bitcoin/Ixcoin addresses, Bitcoin addresses starting with 1 are now invalid. In the future, we might need to block out more addresses if Bitcoin starts using other address versions.

So people are dumb enough to put bitcoin addresses in ixcoin but not dumb enough to put namecoin addresses in ixcoin...?

Only reason is because the ixcoin exchange has deposit addresses for both bitcoins and ixcoins on the same page. So it was easy for someone to accidently copy and paste the wrong address. If there was a ixc/nmc exchange, you will have the same problem with sending ixc to an nmc address.

[caston]

With prices plumetting 66% of its value in 24 hours I'm not sure ixcoins is the best investment for mining or buying a virtual currency. With difficulty rise just around the corner I find it hard pressed to see the exchange rate rise above the profitability of the other markets.

Great for traders though

[Chris Acheson]

With prices plumetting 66% of its value in 24 hours I'm not sure ixcoins is the best investment for mining or buying a virtual currency. With difficulty rise just around the corner I find it hard pressed to see the exchange rate rise above the profitability of the other markets.

Et tu, smoothie?

Great for traders though

Only if there's going to be another bounce before the thing dies out.  Unless you know of a way to short ixcoins?

[caston]

yeah I should have sold yesterday ahhh well... I only have about 3050 of them now.. had 19000 at one point arggh...

and I haven't organised a MtGox deposit in time to invest in i0coins so I'm stuck with trying to get in early at the launch with my 6950 and two 6870's... I'll have to take my sleeping bag and sleep in the study so the machines in my room don't keep me awake.

unless maybe doublec can be really nice and delay opening the exchange for enough days for people to buy more BTC... or perhaps post the exchange launch date at least

or I could try to beg people for coins so I have something to trade when the exchange opens.. the possibilities are endless

[deepceleron]

Announcement - Ponzi-scheme crypto-currency - Pyramid-Coin:  ΔCoin!

-Minimum/genesis difficulty is .001,
-Difficulty resets every 25,000 blocks (next difficulty predicted to be 100),
-After 100,000 blocks the number generated drops to 0,
-Mining Reward 50 ΔCoin per block,
-Worth 1BTC each (that is what I've been trading them for with myself),
-Completely useless!

Oh, BTW, I already mined 1/4 of them yesterday...get in early!

[wallet.dat]

Back to Ixcoin I guess.  Looks like we're seeing some strong buy support at .0036 again. 

[jtimon]

Back to Ixcoin I guess.  Looks like we're seeing some strong buy support at .0036 again. 

I don't get it. Who is buying?

[bcforum]

Back to Ixcoin I guess.  Looks like we're seeing some strong buy support at .0036 again. 

I don't get it. Who is buying?

Somebody with a strong incentive to see the currency succeed. Probably Nasakioto