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David Latapie
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March 26, 2014, 10:11:10 PM
Last edit: March 26, 2014, 10:43:20 PM by David Latapie |
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When markets were controlled by a relative few who had almost all the hard currency -- e.g. in the 1890s -- large-scale capital investment was impossible for up-and-comers. Thus Ma Bell, Standard Oil et al. couldn't be challenged by people with better ideas. The end result was a loss of efficiency in the system as a whole, until the government broke them up. Yep. In my transhumanist conferences, I call it "lowering the barrier to entry". This is what open source, MOOC, crodfunding or 3D printing do: they lower the barrier to entry, wich makes any dwarf a giant. Of course, current giants don't like it, that's understandable (rent-based economy). |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Ximp
Sr. Member
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Activity: 336
Merit: 250
CS Student - BC Logo Guy
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March 26, 2014, 10:15:56 PM |
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The only thing that could beat BlackCoin, imho, is a currency that paid interest based on volume transacted, using some algorithm to determine which transactions were truly long-running investments and rewarding those with a higher long-term interest rate (i.e., you start by earning A% per coin per 8 hours, but after a X amount of time determined by the liquidity of the market you top out at B%, some adjustable rate of interest based on an algorithm that determines how tight the money supply should be; holding coins longer than that, it starts to go back down). In the meantime, having a very low fixed rate of interest effectively allows BC to be a carry trade instrument for Mint and other high-yield coins, should prices stabilize after a couple of years. And whatever happens to the other coins, it can remain so. A coin with a rate of interest adjusted by the transaction volume is a very nice idea. Maybe, we'll see one eventually. A currency based on the equation of exchange: http://en.wikipedia.org/wiki/Equation_of_exchangewith an interest rate algorithm designed to keep prices (roughly) constant would be very appealing. This "dynamic interest" idea inspired me and I am considering including it in a larger scheme. More on this later (yeah, I like teasing  ) I'm glad you're interested in the idea, but could you stop spamming it in the BC thread as it has nothing to do with BC? Thanks. |
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virtualfaqs
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March 26, 2014, 10:27:51 PM |
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Apart from the odd stash sell off no one is selling their coins in substantial chunks - we are going up from here I think. Despite my anger towards the market manipulator earlier I managed to make 5000 BC of it so I guess we both won in the end haha
It seems like you made the wrong move earlier today but you corrected it afterwards with a very good move  Anyway, only time will tell. These things will happen again and again and again ... Perhaps, although it does now appear to have been the right one! haha I'm sure it will -but we have started an upward trend now, the dumps will end at higher and higher price levels and the pumps will hit higher and higher. Probably hit 8000 within 6 hours, maybe 8200 stabilised in 12. I think whoever it was who was manipulating the market had two aims: 1. To buy up as many BC as he could from us as cheaply as he could 2. To see just how low he could dump the price before buy support kicked in good and proper - In reality while many lost coins to him (myself not one of them thankfully) he has set a new floor in what we could probably call 'worst case' conditions (a massive panic with Cryptorush centred around BC, along with a massive market manipulator dumping the price lower and lower) - as we are unlikely to see such bad news/publicity for a while and the new floor has been set it is likely we will be on the rise once more. Tell the upward trend to wait. I'm still buying.  Haha well I sold all at 7624, that seems to be the peak of this pump - will buy back when the dump occurs - we gonna go down big though because a lot of the BTC introduced here is from idiots who see a twitter post and pour their BTC into whatever they are told, they will get scared when they see the buy orders dissappear and dump - probs back to 7100~ Id say, although impossible to tell, only way to work it out is to check the volume bought, workout the average price paid, then subtract 15% which is in my opinion the average ammount your general pumper loses by getting involved in pump and dump scams - the announcer is the one making all the dough here...and me hehe Ok. I'm going to hold you to that! |
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XbladeX
Legendary
Offline
Activity: 1302
Merit: 1002
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March 26, 2014, 10:29:25 PM |
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The only thing that could beat BlackCoin, imho, is a currency that paid interest based on volume transacted, using some algorithm to determine which transactions were truly long-running investments and rewarding those with a higher long-term interest rate (i.e., you start by earning A% per coin per 8 hours, but after a X amount of time determined by the liquidity of the market you top out at B%, some adjustable rate of interest based on an algorithm that determines how tight the money supply should be; holding coins longer than that, it starts to go back down). In the meantime, having a very low fixed rate of interest effectively allows BC to be a carry trade instrument for Mint and other high-yield coins, should prices stabilize after a couple of years. And whatever happens to the other coins, it can remain so. A coin with a rate of interest adjusted by the transaction volume is a very nice idea. Maybe, we'll see one eventually. A currency based on the equation of exchange: http://en.wikipedia.org/wiki/Equation_of_exchangewith an interest rate algorithm designed to keep prices (roughly) constant would be very appealing. This "dynamic interest" idea inspired me and I am considering including it in a larger scheme. More on this later (yeah, I like teasing ) I'm glad you're interested in the idea, but could you stop spamming it in the BC thread as it has nothing to do with BC? Thanks. I think this nothing to do with decentralized system to run such system coin have to be centralized... And such system probably can be exploited eg.l fake walls self buying and selling. 1% for me is good as it is. From point of view in BC you have dynamic intrest every time you want cash out to fiat lol  . 2weeks ago you get in fiat eg 0.1$ from POS minig today 0.5$ as you see market regulate itself on their own. In reality BC have dynamic interest rate:D ^^ just try everyday cash out to fiat and you will see. |
Request / 26th September / 2022 APP-06-22-4587
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yourstruly
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March 26, 2014, 10:33:03 PM |
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BlackCoinMiner.com NOW ONLINE!! 0% Mining Fee Thank you to everyone that helped with the testing during beta! This new mining pool was constructed because I believe everyone should have a choice when decided where they want to mine. This pool has 0% mining fee (FOREVER). Live stats so no need to refresh the page, soon there will be coin voting and even more stats on your miner page. Please leave your feedback and if you have questions join us on IRC #BlackCoinMiner (freenode) PS. We are seeking moderators for the IRC. If you are interested please drop a line. 10 BC a day pay!! Website: BlackCoinMiner.comEmail: BlackCoinMiner@gmail.comExcellent work! I am working on a BC centric exchange, when if we can get the liquidity going I will be giving discounts to mutlipools for converting into BC. |
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David Latapie
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March 26, 2014, 10:36:59 PM |
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You're getting into the massive increase in productivity with the subsequent massive decrease in wages compared to economic output. If wages has maintained their ratio to productivity then we would all be making very livable wages just like our parents and grandparents.
If we all were making liveable wages for the past 20 years, then its likely crypto may have never been created. Read this. Enlightening. http://www.strikemag.org/bullshit-jobs/(tl;dr: most of our job are useless but we are trapped in a mental system where you are supposed to work, even it it is not necessary) I call this the labor transition, for similarities with the demographic transition. natality => job demand mortality => job offer population growth => unemployment Phase 1: full employment Phase 2: growing unemployment, crisis, desperation. Phase 3: seeing the light at the end of the tunnel; solution envisionned (Oscar Wilde's slavery of the machines; we may move to a situation similar to US antebellum, but without the ethical issues; other solution is basic income, yet another is lowering the barriers to entry -- MOOC, crowdfunding, 3D printing, open source) Phase 4: we found a way to live in a "post-work" society and we are finally fine with it We presently are between phase 2 and phase 3. Here is the illustration (French but should be easy to understand - "chômage" means "unemployment")  And the article in English that a workmate wrote then translated after I encouraged him to extrapolate on my theory: http://ieet.org/index.php/IEET/more/roux20140314 |
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David Latapie
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March 26, 2014, 10:42:09 PM
Last edit: March 26, 2014, 10:54:20 PM by David Latapie |
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This "dynamic interest" idea inspired me and I am considering including it in a larger scheme. More on this later (yeah, I like teasing ) I'm glad you're interested in the idea, but could you stop spamming it in the BC thread as it has nothing to do with BC? Thanks.[/quote]Quite the opposite, indeed. It has something to do with BC. More on this later. |
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mellomike
Member
Offline
Activity: 84
Merit: 10
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March 26, 2014, 10:52:45 PM |
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BlackCoinMiner.com NOW ONLINE!! 0% Mining Fee Thank you to everyone that helped with the testing during beta! This new mining pool was constructed because I believe everyone should have a choice when decided where they want to mine. This pool has 0% mining fee (FOREVER). Live stats so no need to refresh the page, soon there will be coin voting and even more stats on your miner page. Please leave your feedback and if you have questions join us on IRC #BlackCoinMiner (freenode) PS. We are seeking moderators for the IRC. If you are interested please drop a line. 10 BC a day pay!! Website: BlackCoinMiner.comEmail: BlackCoinMiner@gmail.comExcellent work! I am working on a BC centric exchange, when if we can get the liquidity going I will be giving discounts to mutlipools for converting into BC. That sounds awesome! Please keep me posted I'll be glad to keep the business within the BC community! |
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virtualfaqs
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March 26, 2014, 10:53:22 PM |
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Getting close to 8000 again. |
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freshmeat
Member
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Activity: 98
Merit: 10
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March 26, 2014, 10:59:29 PM |
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Getting close to 8000 again. probably the dump stage |
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jamieb81
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March 26, 2014, 11:04:39 PM |
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Getting close to 8000 again. probably the dump stage it's not yet 2 hours until the twitter announced pump^^ |
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freshmeat
Member
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Activity: 98
Merit: 10
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March 26, 2014, 11:07:56 PM |
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twitter ?? SCAM . its bullshit trap
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davetheshrew
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March 26, 2014, 11:16:40 PM |
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CryptoMiner @MineCrypto 1h
#blackcoin #pump in 2-3 hours. Current price changes is not from the pump. Pricetarget above 10k. Precise number will follow.
hmmmmmmmmmmmmmmmmmmmmmmmmmmm nope coins staying in wallet
EDIT: putting half coins in, i notice whale from mcxnow retweeted
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My [POT] address PKGbqyqnVLvMoxmYq1YAm7dKAxue52LeNj
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David Latapie
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March 26, 2014, 11:16:56 PM |
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If it already is the end of the raise, I am deeply disappointed.
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yourstruly
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March 26, 2014, 11:19:24 PM |
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Can anyone provide a link to a website with the mintpal orderbook graphed? I like being able to see the buy and sell walls visually.
I don't day trade, just been buying but its entertaining to watch the action.
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David Latapie
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March 26, 2014, 11:19:50 PM |
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CryptoMiner @MineCrypto 1h
#blackcoin #pump in 2-3 hours. Current price changes is not from the pump. Pricetarget above 10k. Precise number will follow.
hmmmmmmmmmmmmmmmmmmmmmmmmmmm nope coins staying in wallet I understand it as "as soon as it move to 10k, sell everything, then buy back after the dump", right? Or course, the pump-and dumpers read this thread so they will organise themselves another way, I guess. And I thought we could be rid of pumpers with this multipool... Huge marketcap is probably the only way to get rid of them. Do litecoin and peercoin experience pump and dump? |
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davetheshrew
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March 26, 2014, 11:26:26 PM |
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CryptoMiner @MineCrypto 1h
#blackcoin #pump in 2-3 hours. Current price changes is not from the pump. Pricetarget above 10k. Precise number will follow.
hmmmmmmmmmmmmmmmmmmmmmmmmmmm nope coins staying in wallet I understand it as "as soon as it move to 10k, sell everything, then buy back after the dump", right? Or course, the pump-and dumpers read this thread so they will organise themselves another way, I guess. And I thought we could be rid of pumpers with this multipool... Huge marketcap is probably the only way to get rid of them. Do litecoin and peercoin experience pump and dump? pretty much yes but, and a huge but. He says hes going to reveal the target for dumping, this is a bit dangerous. If we all collectively put large buying pressure on his target we will succesfully counter the dump and make a new floor above 10k sat and we must remember to thank him for pumping an undumpable coin.. Seen it happen, it will happen again. |
My [POT] address PKGbqyqnVLvMoxmYq1YAm7dKAxue52LeNj
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Miner232432
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March 26, 2014, 11:28:44 PM |
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CryptoMiner @MineCrypto 1h
#blackcoin #pump in 2-3 hours. Current price changes is not from the pump. Pricetarget above 10k. Precise number will follow.
hmmmmmmmmmmmmmmmmmmmmmmmmmmm nope coins staying in wallet I understand it as "as soon as it move to 10k, sell everything, then buy back after the dump", right? Or course, the pump-and dumpers read this thread so they will organise themselves another way, I guess. And I thought we could be rid of pumpers with this multipool... Huge marketcap is probably the only way to get rid of them. Do litecoin and peercoin experience pump and dump? They will be dumping while you guys are pumping, when it hits 10k they'll already be out leaving people holding bags of 10k BC And then starts the dump which is done nobody else but the bag holders trying to cash out while the pro's have already done their business and are ready to buy up cheap coins post dump to start the process again The whole point to a pump & dump is that you guys are the pumpers & dumpers, it's incredibly low risk & high profit for those who have the power to kick start it because they can just ride the wave you guys artificially create and get well before it starts to crash and you all fall for it time & time again |
I am blunt, don't like it ? Too bad
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yourstruly
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March 26, 2014, 11:39:25 PM |
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Well I plan to just continue buying, and let my coins stake. In the long term this strategy will win because of the positive feedback loop we are working to create.
The mutlipool ecosystem is not even close to full operation yet. We have several in beta and many more to follow once they are successful.
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