[ANN] TopCoin [TOP] ★ Crypto Learning Center coming soon! ★ Practical toolset!

[Danz0r77]

Are my 1.3 million coins worth something yet?

You can sell right now for 4 satoshis. 1.3million TOP = 0.052 BTC

$36 USD

[Manwe]

  Hold it and become $130,000.

[Krunkster]

How do I get the wallet to sync? It just doesn't do anything.

[virtualdn]

How do I get the wallet to sync? It just doesn't do anything.

you need to add nodes see first post

[SackofBits]

good job putting those sell walls up! nice way to help the coin grow 

[Ng93]

Coin will be nothing worth due those motherfuckers who doesn't get the value of a coin ...

[Danz0r77]

We're down to 3 satoshi now on CryptoRush

[ManOnTheMoon]

I will buy your cheap TOP   and hodl like a pro.

Topcoin is best coin.

When is next block halving?

Can't wait for the tears when TOP reaches 100 sats...

[Dallas5]

Any other exchanges coming up listing TOP?

[atheistftwins]

Any other exchanges coming up listing TOP?

Anyone know if Cryptsy has taken a look at it yet?

[brokedummy]

Somebody will buy those 100 million next couple days. If I had the money I would. Sell that shit for 1500 satoshis when it hits cryptsy.

[Murch]

ITT: People who don't understand economics.

[ManOnTheMoon]

ITT: People who don't understand economics.

ITT: Vague non-sequitirs.

[atheistftwins]

ITT: People who don't understand economics.

ITT: Vague non-sequitirs.

Maybe I can clarify his point then:

What makes a coin valuable? Supply and demand. How much supply is there already of TOP? Just over 9 billion. How much demand is there for TOP? Not particularly much right now. This isn't food or even electronics. When coins are produced, they generally stay forever. Sure a small amount gets lost from people who lost their wallets etc, but it's not that significant a quantity. Functionally, coins stay forever. What does this mean for TOP? It means that it doesn't particularly matter that it will be really hard to mine more later, there's already so much that the supply is extremely large. In fact, we are already basically at the point that mining barely matters at all. By the next halving, it will be practically pointless to mine without an extreme hash drop.

So why is this unique for TOP? Because it reaches max supply quickly, and effectively stabilizes at that supply. The real question is will demand rise? Because of the stability of supply for TOP, any demand increases will not be diluted by inflation, what you see is effectively what you get in terms of TOP, it's very nature is deflationary if you get in past a certain point. Does price HAVE to rise? Not at all, demand could drop and we could see prices fall to 1 satoshi even or worthless (this will likely happen if hash rate goes too far down, people will have less faith in the security of the coin since 51% attacks will be easier). Could it rise? Sure, if demand rises then prices will go up proportional to demand, since there's no inflationary pressure.

The point is, TOP is designed so that if it gets a lot of hype, prices will rise very quickly. If there is no hype, it will likely die just as quickly because the hash rate will drop below a point where anybody is willing to trust the coin anymore. Effectively, in 1 week we will know what will happen to TOP.

[alquinte]

ITT: People who don't understand economics.

ITT: Vague non-sequitirs.

Maybe I can clarify his point then:

What makes a coin valuable? Supply and demand. How much supply is there already of TOP? Just over 9 billion. How much demand is there for TOP? Not particularly much right now. This isn't food or even electronics. When coins are produced, they generally stay forever. Sure a small amount gets lost from people who lost their wallets etc, but it's not that significant a quantity. Functionally, coins stay forever. What does this mean for TOP? It means that it doesn't particularly matter that it will be really hard to mine more later, there's already so much that the supply is extremely large. In fact, we are already basically at the point that mining barely matters at all. By the next halving, it will be practically pointless to mine without an extreme hash drop.

So why is this unique for TOP? Because it reaches max supply quickly, and effectively stabilizes at that supply. The real question is will demand rise? Because of the stability of supply for TOP, any demand increases will not be diluted by inflation, what you see is effectively what you get in terms of TOP, it's very nature is deflationary if you get in past a certain point. Does price HAVE to rise? Not at all, demand could drop and we could see prices fall to 1 satoshi even or worthless (this will likely happen if hash rate goes too far down, people will have less faith in the security of the coin since 51% attacks will be easier). Could it rise? Sure, if demand rises then prices will go up proportional to demand, since there's no inflationary pressure.

The point is, TOP is designed so that if it gets a lot of hype, prices will rise very quickly. If there is no hype, it will likely die just as quickly because the hash rate will drop below a point where anybody is willing to trust the coin anymore. Effectively, in 1 week we will know what will happen to TOP.

Thank you, you've outlined the situation very succinctly. TopCoin will be made or broken by it's community.

[thinkgreen11]

I have topcoin.conf in my ".../Appdata/Roaming/TopCoin/" folder.

topcoin.conf:
rpcuser=username
rpcpassword=password
rpcallowip=localhost
rpcport=18382
port=18381
gen=0
server=1
addnode=219.90.254.80
addnode=122.62.19.98
addnode=101.98.184.135
addnode=78.51.74.99
addnode=14.201.151.38

(tried several other configs too)

Disabled Firewall and waiting but nothing happens.
Anyone got an Idea?

[yomamanodros]

How do I get the wallet to sync? It just doesn't do anything.

you need to add nodes see first post

There are no nodes in the first post.  I added the ones from the post that is further down on the first page, but I still am not connecting.  

Someone please post some updated nodes! My pool is already yelling at me for leaving too many coins on their site but I don't feel comfortable withdrawing to a wallet that won't sync.  Maybe I'll just withdraw to an exchange.

[atheistftwins]

ITT: People who don't understand economics.

ITT: Vague non-sequitirs.

Maybe I can clarify his point then:

What makes a coin valuable? Supply and demand. How much supply is there already of TOP? Just over 9 billion. How much demand is there for TOP? Not particularly much right now. This isn't food or even electronics. When coins are produced, they generally stay forever. Sure a small amount gets lost from people who lost their wallets etc, but it's not that significant a quantity. Functionally, coins stay forever. What does this mean for TOP? It means that it doesn't particularly matter that it will be really hard to mine more later, there's already so much that the supply is extremely large. In fact, we are already basically at the point that mining barely matters at all. By the next halving, it will be practically pointless to mine without an extreme hash drop.

So why is this unique for TOP? Because it reaches max supply quickly, and effectively stabilizes at that supply. The real question is will demand rise? Because of the stability of supply for TOP, any demand increases will not be diluted by inflation, what you see is effectively what you get in terms of TOP, it's very nature is deflationary if you get in past a certain point. Does price HAVE to rise? Not at all, demand could drop and we could see prices fall to 1 satoshi even or worthless (this will likely happen if hash rate goes too far down, people will have less faith in the security of the coin since 51% attacks will be easier). Could it rise? Sure, if demand rises then prices will go up proportional to demand, since there's no inflationary pressure.

The point is, TOP is designed so that if it gets a lot of hype, prices will rise very quickly. If there is no hype, it will likely die just as quickly because the hash rate will drop below a point where anybody is willing to trust the coin anymore. Effectively, in 1 week we will know what will happen to TOP.

Thank you, you've outlined the situation very succinctly. TopCoin will be made or broken by it's community.

I actually have a huge problem with one of the designs of top. The drop to 1 coin/block makes it so that it's almost guarranteed to die in 2 months time. Lets take a look at what miners expect in a coin to keep mining it:

In general, you are looking at a minimum of $40/day for a 5Mh/S rig. (I'm being conservative, plenty of coins give more than this, but it's what is the reasonable minimum).

So when TOP goes down to 1 coin/block, it generates 1440 coins per day. Lets say we want a network hash of 200Mh/S in order to stay at a level where the coin is still trustworthy (even though that's still quite risky). If that's the case, then 5/200 or 1/40 of 1440 must be worth $40 for people to mine. So each coin will have to be worth $0.9.

Is this possible? No way in hell. That would put the market cap of TOP at 10 Billion USD. Unless top becomes as powerful as bitcoin, it will never reach that price.

Lets look at it from a different angle. What if TOP reaches the market cap of DOGE at $50 million. Then each TOP will be worth roughly 0.45cents. In this case, all the TOP generated per day at 1 coin/block will be worth about $6.5. That means the network hash IN THE EVENT that TOP gets to be as popular as DOGE, is going to be at most 0.8Mh/S, which is obviously disasterous.

Both of these point to the same conclusion. In a couple more block halvings, what we will see is that the dev will choose to hard fork the coin to fix this issue. The current system is a death sentence for the coin no matter what happens.

Edit: Fixed math.

[deadmanwalking]

Topcoin is a type of crypto currency, released 02/02/2014, where you can make instant person to person payments, anywhere in the world. A Crypto currency is a money system which requires no bank accounts or cards and is completely anonymous. With each Topcoin transaction is a nominal fee, this is paid directly to users who are supporting the network with their computer power. These users are known as miners. Miners are building the blockchain by computing mathematical equations, which is a database of every single transaction the network has ever processed. Everyone in the world has access to the blockchain, and anyone can offer their computer power to support the network and earn coins.

Can someone with knowledge of this coin go into further explanation of this "nominal fee".

It seems the like something the miners might want to know.

[atheistftwins]

ITT: People who don't understand economics.

ITT: Vague non-sequitirs.

Maybe I can clarify his point then:

What makes a coin valuable? Supply and demand. How much supply is there already of TOP? Just over 9 billion. How much demand is there for TOP? Not particularly much right now. This isn't food or even electronics. When coins are produced, they generally stay forever. Sure a small amount gets lost from people who lost their wallets etc, but it's not that significant a quantity. Functionally, coins stay forever. What does this mean for TOP? It means that it doesn't particularly matter that it will be really hard to mine more later, there's already so much that the supply is extremely large. In fact, we are already basically at the point that mining barely matters at all. By the next halving, it will be practically pointless to mine without an extreme hash drop.

So why is this unique for TOP? Because it reaches max supply quickly, and effectively stabilizes at that supply. The real question is will demand rise? Because of the stability of supply for TOP, any demand increases will not be diluted by inflation, what you see is effectively what you get in terms of TOP, it's very nature is deflationary if you get in past a certain point. Does price HAVE to rise? Not at all, demand could drop and we could see prices fall to 1 satoshi even or worthless (this will likely happen if hash rate goes too far down, people will have less faith in the security of the coin since 51% attacks will be easier). Could it rise? Sure, if demand rises then prices will go up proportional to demand, since there's no inflationary pressure.

The point is, TOP is designed so that if it gets a lot of hype, prices will rise very quickly. If there is no hype, it will likely die just as quickly because the hash rate will drop below a point where anybody is willing to trust the coin anymore. Effectively, in 1 week we will know what will happen to TOP.

Thank you, you've outlined the situation very succinctly. TopCoin will be made or broken by it's community.

I actually have a huge problem with one of the designs of top. The drop to 1 coin/block makes it so that it's almost guarranteed to die in 2 months time. Lets take a look at what miners expect in a coin to keep mining it:

In general, you are looking at a minimum of $40/day for a 5Mh/S rig. (I'm being conservative, plenty of coins give more than this, but it's what is the reasonable minimum).

So when TOP goes down to 1 coin/block, it generates 1440 coins per day. Lets say we want a network hash of 200Mh/S in order to stay at a level where the coin is still trustworthy (even though that's still quite risky). If that's the case, then 5/200 or 1/40 of 1440 must be worth $40 for people to mine. So each coin will have to be worth $0.9.

Is this possible? No way in hell. That would put the market cap of TOP at 10 Billion USD. Unless top becomes as powerful as bitcoin, it will never reach that price.

Lets look at it from a different angle. What if TOP reaches the market cap of DOGE at $50 million. Then each TOP will be worth roughly 4.5cents. In this case, all the TOP generated per day at 1 coin/block will be worth about $65. That means the network hash IN THE EVENT that TOP gets to be as popular as DOGE, is going to be at most 8Mh/S, which is obviously disasterous.

Both of these point to the same conclusion. In a couple more block halvings, what we will see is that the dev will choose to hard fork the coin to fix this issue. The current system is a death sentence for the coin no matter what happens.

I hate it when I spent a lot of time writing a detailed analysis and it ends to be the last post of a page, so nobody ever sees it. I'm just going to quote myself since it's important that people read this and realize the truth that we MUST hard fork the coin.