The price will probably stay outregeously low until August 2nd and days after, but I already bought the dip. I do not care if it crashes further as I am sure that it will eventually recover. $370 k market cap is absurd for this project, Primecoin is $30 M, Riecoin is so much undervalued. A good indicator is that the difficulty is still not moving.
It might be interesting to monitor the
Poloniex's balances, it can give a good indication about how many RIC are waiting to sell, but we can hope that most of it are not owned by stupid sellers. The delisting might finally not be so bad, as the volume will be transfered to Zapple, which will gain some nice exposure.
At this point I actually believe that funds should be used to list RIC on another exchange, rather than upgrading the wallet. Just my two cents.
While I do agree the wallet needs upgraded, RIC needs liquidity to survive. In the meantime, we need zapple listed on cmc etc.
I think the opposite. Liquidity is great, but many people will still remain interested in this project regardless to the price of RIC, and these people have the most genuine interest. And if we release a wallet first and do some more advertising, the project will be more credible, and it will likely be easier to list it in the other exchanges.
I was going to post something else, but IGJ said most of what I was going to say...
Poloniex circus (pardon circle:) team are idiots ! Four months they keep the wallet disabled and now they delisting the riecoin because lack of trade volume (sorry i call them idiots, but cant find other proper world in my mind when i see the facts). I am pretty sure those who sell now will cry later, and those who buying now will be rich in the feature (I personally bought around 500k and will keep going). Minimal price of riecoin must be around 1500 sat (that only to cover energy for mining).
Idiot is a weak word to describe them. And agree, Riecoin should be at 2 k-4 k sat or more (which would match the electricity price if the difficulty ever returns to 1700-1800. Time to buy before it is too late and profit.
I have no doubts riecoin will survive, but to make it better we need to form community. I think we need more and better advertising, to let people knows riecoin is much better coin than all tons bulshit coins which are total waste of energy. Riecoin algorithm is unique and useful for humanity and is perfect balanced to control the inflation. Also we need to attract investors to can support the project (Universities around the world will have interest in this coin im sure).
Totally agree. If I am not mistaken, DGA is a college professor. It would be great if some academic papers used Riecoin as a reference. Or if some research could be done to optimize more the mining (and fundamental math) algorithm.
I started to work on riecoin core upgrade, patching it on hand with patches from upper versions of bitcoin core ... I started to realize it is not task for one man and we will need team for that, and in future things will be better if there is team.
lzknr is currently working on the wallet too, and I read in a previous post that someone else was interested. You should contact them to work together. Another solution could be to start a wallet from scratch! Why not propose something like Electrum which does not require to sync! We do not have to have just one wallet!
For first maybe is better to start from official web site, to make it look actual, with more information on it and to form some kind of comunity there. In the past there was forum on the site do somebody know why it disappeared ? Also who is holding the site now? Gatra ?
Gatra is still alive, but makes only very rare appearances. But sure, the website needs to be always updated. Someone else should be elected to own the domain and manage it. Even if Lzknr releases a great wallet update, if nothing follows, RIC will become a zombie again, we need a fresh website.
The Bitcoin wallet updates should be merged regularly with the Riecoin official one, and we must motive people to contribute to this project. There is already the idea of a hard fork to mine different tuple sizes, such that we could mine with both CPU and GPU, which sounds promising.
Someone could create a faucet. A mobile wallet. You could do it, IGJ!
People should be motivated to propose and use services which use the Riecoin's chain, like a proof of existence service for almost free, or even protocols like Counterparty. Such things can be done with any blockchain, but the fact that Riecoin uses an useful proof of work algorithm is a great bonus.
Why not think big and imagine Riecoin replacing Litecoin and all those so called equitable shitforks!
game over
It looks like that someone else was pissed of too and sent some coins to a
burn address. Throw away your coins there and go away.
