[ANN] Blacknet BLN | Staking | Future of zApp & ZeFi

[IconicExpert]

I was hoping to let this cat still in the bag, but it is out:

CoinKite has added us to their voting list!

http://www.coinkite.com/faq/alts

This is -huge- for BlackCoin. We are not even 45 days old and being considered to get added to one of the leading Point of Sale device manufacturers out there. Next to that they also offer a Debit Card (we'll ask them for a BlackCard version ) and of course an online wallet. Basicly, if we get the funds together your local shop will be able to accept BlackCoin real easy.

BUT we need 25 BTC in BC value for this to happen.

The good thing is: We already have sent 200,000 BC to their fund, which is about 20BTC at the moment.

We still need 5 more BTC in value.

This can happen in two ways:
- You donate a little to their address: BD6n8ZeenBD9Uede3RGvBkc74pRgUm6zXE
- You make the price go up to 12500 SAT

After the 25BTC are confirmed we'll get accepted and implementation takes 4-5 weeks.


TL;DR

BLACKCOIN IS GOING COINKITE!

I was asked private what is the significance of BlackCoin being accepted to CoinKite. I thought I would answer here since some people are not familiar with CoinKite.

CoinKite is a crypto-currency payment terminal mainly for brick & mortar businesses. They are accepted at many locations worldwide, and new locations are added daily. They have a debit card, and now you will be able to us your BC to buy things with it. It is a huge step for BC being considered a currency. No currency can survive if you can't buy things with it, and in less than 2 months BlackCoin has solved this problem. Many thanks to Soekip for getting this accomplished!!!

[grimrog]

Look at those buy orders coming in.

What buy orders ? The market depth's asymmetrically loaded 4:1 on the sell side on cryptsy. Mintpal is about 1:1 with most of the support around 9000 Sats.

EDIT: In the last 10 minutes another 150,000 BC of asks has gone onto the Mintpal order book taking the market depth ratio to 1:1.7 bid to ask.

However, that 20 BTC coming from the pool could almost buy up half order book on Mintpal and it has about 4 times the volume of sales orders than Cryptsy. So there is a bit of a confrontation coming between the pool demand and some long term holders cashing out.

For those confused, the day the newspaper promo comes out isn't the day you pump - its the day you dump because that represents the maturation of all the pre-emtively priced-in promotional value, which in Crypto is most of it. Thats why all these sell orders are coming onto the books - because there's no more "something coming up" factor.

On the other hand, what Blackcoin's got which other projects haven't up till now is the multipool factor. We'll now see what effect that has. It could bust through the 10 resistance against the usual flow of trade during this phase, in which case we could be into uncharted waters that would allow the longer term pluses (like Coinkite etc) to take effect.

true, it is always "buy the rumors, sell the news". Another thing working against us is how strong faircoin was in the last 24 hours. However, their momentum slowed and if progress keeps declining their investors will look for more promising opportunities.

[paulsonnumismatics]

For those confused, the day the newspaper promo comes out isn't the day you pump - its the day you dump because that represents the maturation of all ()....

On the other hand   .... ()  We'll now see what effect that has.

#CoinTossing.

So BC can go up or down.

Aha.

[wqdqszj]

up up

[johnngbluntzky]

grimrog, ofc i could be wrong.. but i honestly believe that fac is a small group manippin prices. that being said, the sell walls look pretty thick on that depth chart.

anyway, something i jus remembered. mintpal is awesome and i love them.. i've had my fair share of problems at cryptsy, lost out on a lot of profits due to stuck coins.. but, they are opening up their usd section soon. hell of a chance to get BC/USD with some decent volume if they ever decide to put it up.

[Soepkip]

Just noticed something:

https://bitcointalk.org/index.php?board=159.0;sort=replies;desc

We are #3 and the youngest coin in the top 10 of #of replies to a Coin ANN thread.

[toknormal]

I was referring to ~20 1btc orders which came in rapid succession.... but were removed immediately after I posted

Actually, I've just worked out that the pool revenue from blackcoinpool alone should be between 30-50 btc if their hashrates are right (and if I've got my terra's and giga's the right number of zeroes).

In fact, if it's pointed at Zedcoin right now, they're looking at the best part of a whopping 50 btc per day. I think I need to check my sums:

21,000 GH/s SHA256 and 3,000,000 (3 million) KH/s scrypt.

Anyone disagree ? If it's correct, say goodbye to all known sellwalls on Mintpal as from tonight.

[blade87]

grimrog, ofc i could be wrong.. but i honestly believe that fac is a small group manippin prices. that being said, the sell walls look pretty thick on that depth chart.

anyway, something i jus remembered. mintpal is awesome and i love them.. i've had my fair share of problems at cryptsy, lost out on a lot of profits due to stuck coins.. but, they are opening up their usd section soon. hell of a chance to get BC/USD with some decent volume if they ever decide to put it up.

FAC's "multipool" is nothing more than a stratum proxy that points to Waffle that maybe took about a whole hour to setup along with the website. That said enough for me. If people want to gamble on FAC, go for it. But BC is the only coin with real development. We've proven it now. We have real pools, good PR, and now CoinKite. And more will come in the future.

If you come up with a good idea that can benefit BC, it's community,and cryptos in general (and you are capable of executing it) - BC will fund it, and fund it well. If 20 BTC and 5 BTC worth of investor + supporting exchange money (note, there is no premine for BC so that's 100% on external investors) doesn't convince you, then it's your loss. And feel free to gamble on some other clone + premine or IPO coin that you know won't go anywhere but you'll just hope for the best anyway.

[Soepkip]

Just noticed something:

https://bitcointalk.org/index.php?board=159.0;sort=replies;desc

We are #3 and the youngest coin in the top 10 of #of replies to a Coin ANN thread.

[morituri13]

I was referring to ~20 1btc orders which came in rapid succession.... but were removed immediately after I posted

Actually, I've just worked out that the pool revenue from blackcoinpool alone should be between 30-50 btc if their hashrates are right (and if I've got my terra's and giga's the right number of zeroes).

In fact, if it's pointed at Zedcoin right now, they're looking at the best part of a whopping 50 btc per day. I think I need to check my sums:

21,000 GH/s SHA256 and 3,000,000 (3 million) KH/s scrypt.

Anyone disagree ? If it's correct, say goodbye to all known sellwalls on Mintpal as from tonight.

My math says about 20 BTC per day at the current mining levels. Like others have pointed out this is far over the amount of BTC required to maintain price due to 1% inflation.

[MuffinMaster]

grimrog, ofc i could be wrong.. but i honestly believe that fac is a small group manippin prices. that being said, the sell walls look pretty thick on that depth chart.

anyway, something i jus remembered. mintpal is awesome and i love them.. i've had my fair share of problems at cryptsy, lost out on a lot of profits due to stuck coins.. but, they are opening up their usd section soon. hell of a chance to get BC/USD with some decent volume if they ever decide to put it up.

FAC's "multipool" is nothing more than a stratum proxy that points to Waffle that maybe took about a whole hour to setup along with the website. That said enough for me. If people want to gamble on FAC, go for it. But BC is the only coin with real development. We've proven it now. We have real pools, good PR, and now CoinKite. And more will come in the future.

If you come up with a good idea that can benefit BC, it's community,and cryptos in general (and you are capable of executing it) - BC will fund it, and fund it well. If 20 BTC and 5 BTC worth of investor + supporting exchange money (note, there is no premine for BC so that's 100% on external investors) doesn't convince you, then it's your loss. And feel free to gamble on some other clone + premine or IPO coin that you know won't go anywhere but you'll just hope for the best anyway.

Seems that the large holders are constantly re-investing in BC's future, and able to fund large projects, gaining momentum as it goes. More BC wallets get downloaded, better distribution every day. Feedback cycle continues...

[ickyt2012]

I was referring to ~20 1btc orders which came in rapid succession.... but were removed immediately after I posted

Actually, I've just worked out that the pool revenue from blackcoinpool alone should be between 30-50 btc if their hashrates are right (and if I've got my terra's and giga's the right number of zeroes).

In fact, if it's pointed at Zedcoin right now, they're looking at the best part of a whopping 50 btc per day. I think I need to check my sums:

21,000 GH/s SHA256 and 3,000,000 (3 million) KH/s scrypt.

Anyone disagree ? If it's correct, say goodbye to all known sellwalls on Mintpal as from tonight.

Won't adding the massive hashrate cause the diff to jump and therefore give much lower rewards per day?

[toknormal]

My math says about 20 BTC per day at the current mining levels. Like others have pointed out this is far over the amount of BTC required to maintain price due to 1% inflation

Compensating for coin inflation isn't the problem with cryptos - only in a theoretical world where they are in established use.

The problem is maintaining the speculative value. That's something only the market can do. Since none of these coins are actually used for anything, they go up on speculative speculative investment and back down on lack of same. Nothing to do with coin inflation.

However, few of them have "got through" to the next phase of investment after the initial pump & dump. That's what the multipool could do for Blackcoin - help it bridge that gap and allow it a second chance at the 'pump' stage except this time based on fundamentals. Kind of like cold starting an engine with an external starter till it's self sustaining.

[IconicExpert]

I was referring to ~20 1btc orders which came in rapid succession.... but were removed immediately after I posted

Actually, I've just worked out that the pool revenue from blackcoinpool alone should be between 30-50 btc if their hashrates are right (and if I've got my terra's and giga's the right number of zeroes).

In fact, if it's pointed at Zedcoin right now, they're looking at the best part of a whopping 50 btc per day. I think I need to check my sums:

21,000 GH/s SHA256 and 3,000,000 (3 million) KH/s scrypt.

Anyone disagree ? If it's correct, say goodbye to all known sellwalls on Mintpal as from tonight.

Incorrect. We would have been broke 10,000 on Mintpal already. However, someone keeps purposely dumping cheap coins to drive the price down, and then the price is quickly pushed back up to give support. This has been going back and forth for over 24 hours. I have no idea why someone would want to do this, but all you have to do is carefully watch the sell orders and you will understand what I am saying.

[blade87]

Compensating for coin inflation isn't the problem with cryptos - only in a theoretical world where they are in established use.

It is for DOGE.

DOGE will come back eventually, especially once it enters the 5%/year phase, but DOGE is proof of what excessive coin inflation does. You can buy a DOGE today for 100 satoshi, and a month from now it might be worth 90-95 satoshi, yet total market cap would actually be higher.

MaxCoin = same problem. And as much I like MYR with it's multi-algo hashing, I too feel it is producing coins way too fast.

[toknormal]

Won't adding the massive hashrate cause the diff to jump and therefore give much lower rewards per day?

That's one of the clever things about the multi-pool because it's got the ability to switch coins in an instant and always targets the most profitable coin. Everything's taken into account including difficulty, hashrate, market price etc.

It might change the whole landscape of cryptos if the idea spreads because it could just scare away both miners and investors from any coing that happens to be targeted by the multi-pools. I don't know - this is one of the interesting things about this development.

[toknormal]

However, someone keeps purposely dumping cheap coins to drive the price down, and then the price is quickly pushed back up to give support. This has been going back and forth for over 24 hours. I have no idea why someone would want to do this, but all you have to do is carefully watch the sell orders and you will understand what I am saying.

Yes - I noticed that as well. I pointed it out in an earlier post and someone called me a "c*nt" for it    They must've thought I was just idle trolling. I wasn't - I was making this exact observation.

All the same, that can't go on forever. Their supply must run out at some point. It could just be a massive holder who's doing an interim profit take. The volume in general isn't that high so it wouldn't take a huge amount.

[johnngbluntzky]

However, someone keeps purposely dumping cheap coins to drive the price down, and then the price is quickly pushed back up to give support. This has been going back and forth for over 24 hours. I have no idea why someone would want to do this, but all you have to do is carefully watch the sell orders and you will understand what I am saying.

Yes - I noticed that as well. I pointed it out in an earlier post and someone called me a "c*nt" for it   They must've thought I was just idle trolling. I wasn't - I was making this exact observation.

All the same, that can't go on forever. Their supply must run out at some point. It could just be a massive holder who's doing an interim profit take. The volume in general isn't that high so it wouldn't take a huge amount.

i've seen this pattern going on for days, i'm pretty sure someone/a few people are accumulating. it's a good thing, it means some big holders believe in it's future, and it's still a complete uptrend on the max chart. there will always be accumulators, it's their intentions that matter. i think these guys are loading up for if/when marketcap explodes, not trying to keep prices down forever.

[IconicExpert]

However, someone keeps purposely dumping cheap coins to drive the price down, and then the price is quickly pushed back up to give support. This has been going back and forth for over 24 hours. I have no idea why someone would want to do this, but all you have to do is carefully watch the sell orders and you will understand what I am saying.

Yes - I noticed that as well. I pointed it out in an earlier post and someone called me a "c*nt" for it   They must've thought I was just idle trolling. I wasn't - I was making this exact observation.

All the same, that can't go on forever. Their supply must run out at some point. It could just be a massive holder who's doing an interim profit take. The volume in general isn't that high so it wouldn't take a huge amount.

Well whoever it is they have a lot of BC to sustain this kind of downward pressure. I made a joke to Soepkip earlier and asked him "who did they piss off"?. There are enough buy walls placed strategically so the price doesn't dip bellow 9000.

[XbladeX]

I was referring to ~20 1btc orders which came in rapid succession.... but were removed immediately after I posted

Actually, I've just worked out that the pool revenue from blackcoinpool alone should be between 30-50 btc if their hashrates are right (and if I've got my terra's and giga's the right number of zeroes).

In fact, if it's pointed at Zedcoin right now, they're looking at the best part of a whopping 50 btc per day. I think I need to check my sums:

21,000 GH/s SHA256 and 3,000,000 (3 million) KH/s scrypt.

Anyone disagree ? If it's correct, say goodbye to all known sellwalls on Mintpal as from tonight.

My math says about 20 BTC per day at the current mining levels. Like others have pointed out this is far over the amount of BTC required to maintain price due to 1% inflation.

count one more

2048 new BC day... * 0.000095 = 0,19 BTC !!! WTF
price can be 100x higher