Thoughts on Max Keiser's coin (Maxcoin)

[frobley]

yaay, a hero member rules this thread.
can't wait for staceycoin, keisercoin, maxnstacycoin, rtcoin.
they must be laughing all the way to the (of shore) bank

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[frobley]

yaay, a hero member rules this thread.
can't wait for staceycoin, keisercoin, maxnstacycoin, rtcoin.
they must be laughing all the way to the (of shore) bank

I have no doubt they are making huge money, a lot of the people involved in the development and promotion of the coin made big money and continues to do so. The only thing I was debating with Herp, was, that it is crystal clear that the "bungled" launch was not a bungle, but a well executed plan to give the devs a huge advantage in the first 24 hours.

That's all I was saying.

~BCX~

Yes, and I agree, a strategy they will repeat again and again, if the same results are shown.

[AnonyMint]

6. The coin has inbuilt algorithm changing so if someone was to build an ASIC the devs would simply change the algorithm and they would be rendered useless. Posted by the Maxcoin devs http://www.reddit.com/r/maxcoinproject/comments/1xh1xl/the_maxcoin_advantage/cfba4hy

Which means either he is fooling (possibly himself and) you, or the coin MUST BE controlled top-down and is thus centralized. Thus handed on silver platter for take over by the authorities in the future.

Either you have decentralized protocol or you have top-down control.

If the protocol is decentralized it means no one can decide to change it any more, unless they can convince a majority of the mining hash processing power to switch. Since ASICs have orders-of-magnitude hash processing power advantage, then they won't agree of course. Even if ASICs are just launched, existing GPU or CPU miners will be resistant to changes. So you must then maintain top-down control over pools or somehow force all miners to switch.

I explained this to bytemaster months ago when he proposed a similar strategy for BitShares.

This is also why you won't see any drastic changes to Bitcoin any more.

[techstorm2]

I personally believe the launch and coin were appalling. The value is now dropping so fast that the Devs and mk got their wish to create a perfect example of a pump and dump coin with no innovations.

Kudos to those that made money on it but for the majority, the frustrations of a messy and appalling launch made this coin all but impossible to mine. Added to that it was supposed to be CPU only and 30 mins before it's final launch cudaminer comes along giving some users unheard of hash rates with nvidia cards, the whole thing should serve as an example of everything that's wrong with crypto and the fact that greed and making a quick buck reigns supreme.

Anyways, that's my opinion on it and I doubt I will be agreed with

Ditto

appalling launch, i wasted 2 days on this frustrating shit!

No windows client even though a large % of miners use win 7.

unbelievably poor communications from the dev team. I had high hopes for this but was extremely disappointed. 

[Herp]

@techstorm2

Devs are very responsive on Twitter and reddit. There's also a Maxcoin forum but not sure devs are active there.

[superresistant]

You are wasting your time & money.

[Herp]

You are wasting your time & money.

Says guy who wasted his time posting in a thread warning people not to waste their time. Right.

[superresistant]

You are wasting your time & money.

Says guy who wasted his time posting in a thread warning people not to waste their time. Right.

If your time is free and you have money to lose, keep going. I was talking to people that doesn't have that luxury.
I feel better once I warn people but you are free to do as you want.

[Herp]

You are wasting your time & money.

Says guy who wasted his time posting in a thread warning people not to waste their time. Right.

If your time is free and you have money to lose, keep going. I was talking to people that doesn't have that luxury.
I feel better once I warn people but you are free to do as you want.

Yeah because you're such a charitable good doer guy. Yeah right.

Nice chance for your to advertise that signature.

[StewartJ]

I have enjoyed Max Keiser and Stacy's show over the years with their financial insights.

But more importantly its his advocacy of Bitcoins and Crypto Currencies in general where Max really shines.

This Max Keiser coin is a fiasco and certainly does not help the cause of Alt Coins at all.

Max Keiser has to know this and will certainly distance himself from one of the most inept coin launches ever.

[Herp]

@StewartJ

Just because you stumble a few times, doesn't mean you give up. Only losers do that and Max is no loser.

He will stand behind the coin and promote it, helping out with the development. He had ample opportunity to "distance" himself but he didn't do it and won't do it. So... Maxcoin is here to stay.

[Wipeout2097]

@StewartJ

Just because you stumble a few times, doesn't mean you give up. Only losers do that and Max is no loser.

He will stand behind the coin and promote it, helping out with the development. He had ample opportunity to "distance" himself but he didn't do it and won't do it. So... Maxcoin is here to stay.

Yes, but you didn't address StewartJ's point. While Max Keiser is trying and failing, he's taking others down with him.

[superresistant]

You are wasting your time & money.

Says guy who wasted his time posting in a thread warning people not to waste their time. Right.

If your time is free and you have money to lose, keep going. I was talking to people that doesn't have that luxury.
I feel better once I warn people but you are free to do as you want.

Yeah because you're such a charitable good doer guy. Yeah right.
Nice chance for your to advertise that signature.

You are dumb is you click every banner you see. I don't care what is written on this banner but I get money from it, that's what matter.
You are loosing time and money with this coin.

[Herp]

@BitcoinEXpress

There's big diversification atm into several other pools.

@superresistant

Relax, not many will click your stupid links. You're just trolling here cos you want extra hits.

[Alphi]

Again, Do you even read what you type before you post?

Block chain analysis clearly shows a huge mining operation from the very start and it's not the percentile of the total coins mined that is the money maker, it's the price at which they were sold.

/start crayon font

If I sell 100 coins at $30.00 each I will make 3X more than selling 1000 at $1.00 each.

/end crayon font


MK pumped this coin into the stratosphere and the devs, some of the very few that had gpu miners were the ones that made a huge sum of BTC off this. I'm not sure why you keep trying to defend the insanely stupid obvious.


~BCX~

@BCX while I agree with most of what you say.. the devs and MAX cant have made much from this coin at all.. at most they had about a day of mining before the big players moved in and shot the difficulty so high that it would made their Hashing power insignificant... how do I know? because it made my hashing power insignificant in that short time span... that's for sure.


lets assume that ALL The devs could mine for a full day and get 276480 MAX Coins..
lets assume that they sold half of those coins at market for an average of 0.01 BTC
so they end up with 1382 BTC or 960,000 USD for launching the COIN..

probably half of that went to MAX for promoters fees..

so max Gets about $500,000 worth of coins for tying his name and reputation to a coin which could ruin his career...

these assumptions are for a BEST CASE scenario, they probably got much lower than that...

and while they seem like fairly large numbers.. they are NOTHING compared to what MAX is actually worth...and a mere fraction of a percent of the overall coin supply...

lets hope for the sake of all stake holders that max and his team can deliver more software to make the coin more accessible. if not they lose just as much as the miners do..

Max Kaiser could easily suffer more than 500,000 worth of damage to his reputation if this coin fails.. and he may even face jail time for some of the claims he has made if they cant deliver...


just on a side note.. MAX and his team claimed that the coin would have a market cap of $20 Million in a couple of months... for that to happen the MAX price would have to stabilize around 0.0017 or double what it is today... lets see them try LOLZ

[jmdon1]

God knows why but I decided to invest at 0.00163000

Luckily it was only a tiny amount: 0.1BTC

[Herp]

Max Keiser ‏@maxkeiser  2h
The reason #maxcoin is twice the price of #sexcoin is because #maxcoin is better than sex.
@maxcoinproject

https://twitter.com/maxkeiser/status/433666097464631296

[flounderella]

Kudos to all who sold in first 2-3 days. Nicely done!

[eddilicious]

Kudos to all who sold in first 2-3 days. Nicely done!

It was actually the first 24 hours that devs had the extreme adavantage is where a large majority of the profit came.

The window of .03 to .04.


~BCX~

BCX, I think you are putting too much personal bias into logic thinking,

1. 51 attack. lots of scrypt coins have this issue right now , because their constant falling price, less and less pool available. the biggest 51 attack issue is bitcoin, I moved from the guild to ghash long ago, never went back. I don't even setup backup pool, just let it idle waiting for ghash to go back online. I admit that is the biggest threat to the community, because bitcoin is like reserve currency of crypto. maxcoin is less than 1 week into the game, 51 attack really does not matter. if someone write a better cgminer, he will immediately take over a large trunk of hashrate.

2. price crash. The coin does not go away because price, as long as it is profitable to miners, someone will maintain the blockchain, and the coin will survive. talk about price crash, bitcoin is right in the middle of the (xx)th price crash now.

3. the initial pump and dump. Does that not happen to all coin launches? It is not even pump and dump. when coin is launched, there are very few supplies, but lots of marketings and anxieties are built up. Through the initial low difficulty period, miners created huge supply which overwhelmed the initial demand. the price always fall. the same happened to doge.

[mazuma]

agreed with eddilicous. Ok soo bcx just leave the scene of max coins. And when it does die come back again and tell us all " I told you so". Until then your bitching is ridiculous.