Feb. 20th 2014
if you want to be taken seriously, you must have 0% premine (THAT'S ZERO) and 0.00000001 coins for the first 1000 blocks to stop whales pumping out the first coins.
otherwise, you are just another pump and dump coin.
ADD: if you truly believe in your coin, the above recommendations won't be a problem for you.
Any large dumps in this coin will be seen in the exchange rate. Since we have invested heavily in hiring traders and equipment to maintain the exchange rate, dumping this coin would not be in our interest. We pay our expenses through smart speculation that benefits the entire AIRcoin userbase, not through scams.
In fact, if you DO see any large dumps on any exchange with this coin, we'd like you to notify us immediately so we can respond and support the market. We believe that because our coin will be invested in an index of the total market, that the ability to raise the exchange rate will always be stronger than the seller's abilities to dump the coin. Our trading actions and the growth of the investment pool will be published publicly, weekly, and you can cross-reference the data with what you observe in the markets to keep us in check.
If you still do not take us seriously, let me know what I can do for you to convince you otherwise. If you want to learn more about how much we believe in our coin, read the whitepaper that addresses the cryptocoin community here:
http://teamaircoin.org/docs/Pump and dump schemes are child's play, really. We are one of the few coins that has the power to do clean, legitimate work and be successful at it. We're going to use that to our advantage.
24 Hour Difficulty Retarget Time <-- lol
We use things like the block reward, the difficulty adjustment time, and recommended pool fees to adjust supply and demand to prevent this coin from achieving problems in the exchange rate. By making the difficulty adjustment time long, we allow for daily "cylical" motion of the exchange rate, assuming that some miners will sell the currency as it is mined. This puts the advantage to investors and traders, since they can effectively scalp the exchange rate against the miner's actions.
Wallet wont sync new nodes please
nodes
(other posts omitted)
We are currently dealing with an issue with our node server. However, we do not intend to release a poor fix but are taking the time we have now to improve and prepare it from the beginning. I believe that a little patience and caution exhibited now will benefit us greatly.
Users who have alerted us of the Node Issue before this post (5PM EST Feb. 20th) however, will receive a compensatory .1/A transaction to get them started once it is fixed.
Premine done yet?
Quote from: AIRcoin on Today at 09:08:26 AM
We're working on resolving the seed node issue now, and will respond immediately as soon as the issue is resolved.
Why so problems? Are you mining there? :Grin:
The Premine was completed before the launch of the coin, we mined five 500,000 reward blocks, resulting in a total of 2,500,000 coins. You will be able to see this in both our weekly reports and in observing the blockchain. The premining was successfully completed before we encountered the issue with our seed nodes. This is exactly 0.25% of the total output coins, which is all we believe is sufficient with the resources we have to both operate and grow the exchange rate.
I can only hope the project succeed, "The Allied Investors trading floor, utilizing existing Cryptocurrency markets, can increase the rate by 5% per week" USDe tried something similar but fail. Only Insanitycoin seems to get it right.
Glad to know you like it.
USDe did not feature aggressive trading (at least, not on the same level of professionalism) and suffers from hyperinflation problems like many of the new cryptocoins released in the last few weeks due to copying of the Dogecoin success (which, ironically enough, is a demand-based success, and these copycats only affect the supply!).
Insanity coin utilizes destructive supply features, which are nice if you want to restrict the supply (and then hope demand remains the same or increases) but are ineffective for long-term exchange rate increases. A modern day investment pool doesn't go and burn other people's dollars to raise the value of their own dollars: it's much better to efficiently allocate and benefit from group work.
You can equate the short-term operation of most of these coins (Dogecoin, Pandacoin, Earthcoin, USDe, etc.) to other hyperinflationary states, like Zimbabwe in the mid-2000s and Germany in 1921-1924. Without incredible (statistically unlikely) leaps of demand that balances external effects, they decompose. It's not a matter of having one strong theoretical leg to stand on, but many.
Both of these failures are extremely indicative of coins that are created under the pretense of deterministic price and "inherent value", things that academic economists haven't considered to be "fact" since the 1800s. To maintain consistency in an exchange rate, consistent maintenance must be applied. Such maintenance is impossible with a weak development staff (or one that is heavy on coders, and light on economists) or a tidal wave of inflation that the developers would have no hope to overcome, simply because they gave away as many coins as possible to build "hype".
We get around these problems through index investments in the competitive coin market. I advise you read
A Random Walk Down Wall Street to understand the way it solves these problems, it's a highly influential and modern look at finance.
Hi There
No source, no party for noderz
Post at least the ZIP of the source, I'll add a node for this coin.
### VGold
We would like to operate our own node servers first, which are working on, and we will not release the source code immediately. There are plans for a release of the source code in the near future, however, after more pressing matters have been attended to.
To the rest of you: Thank you for your support. We'd like feedback and opinion as well, as we intend to use this coin as an example of an economically sustainable coin capable of competing in real world financial markets: something that the cryptocurrency community does lack.
-Alexander
