[ANN] AIRcoin

[Titus pollo]

god, mining a full day with 1 mhs on airpool found more than 3 blocks got only 2 aircoin

[Sprite160]

LOL. you guys are giving MightlyX such a hard time.

Both MightlyX and Alexander addressed each other's concerns in a very elegant and professional manner. And I like that since it stimulates discussions. I don't think MX is trolling.

For those who have been doing crypto for a year or so, they have every rights to be skeptical and cautious. Many have been burned by the coin creator and because of that, cryptocurrency dies a little bit every time that happens. Perhaps MightlyX has been around long enough to see the rise and fall of many coins and through that, he became toughened.

I like what the Aircoin team proposed. I'm not following because of blind faith, but more of an educated guess of what can happen.  Since this whole thing is experimental, no one would know what will happan until we tested it out.  If it works, yay. If it doesn't, go back to the drawing board.  

We also need to take lessons from what made certain coins successful (at least initially). 1. Community (As evident by dogecoin) 2. Financial backer (Maxcoin was backed by Max - although maxcoin died after Max showed little attention to the coin after launch and how the community basically turned against it) 3. ASIC and multipool protection.

I think our community is growing, so it is up to the aircoin team to test out whether their promises work or not.

While centralized control and cryptocurrency seems like an oxymoron, I think this is worth a try.

As for the 2.5 mil coin, it's impossible for them to convert all of them to bitcoin and value them at ~$2 mil.

In the event that the Devs just want to dump the coin to earn a few bucks, At most they can dump a couple thousands of Real dollars during the first week or two. The trade volume would not be that high. For them to be a millionaire, they need to slowly maintain the price of the coin while selling their shares without perturbing the price too much. If that's their plan we will earns a handsome some from our initial investment. That means our shares are not going to be devalued anyways.

But if they really want to earn the big bucks, they would need to stick to their original plan and if they do succeed, we also win big.

     I am sorry, I did not mean to imply that TheMightX's comments were unwarranted, it was my my poor attempt at humor, and I apologize  for that. Mighty, please accept my apology.  Now that that has been said, I too find the discussions enlightening, entertaining and educational. You are correct, he could very well be speaking from experience. But to dismiss the notion that something could possibly be different and imply that the past will always be the future, is limiting, there can be no progress, I am not stating that this was Mighty's intent. I do not know TheMightyX personally. He is in all probability a great guy, and the knowledge that he shares adds to my own. I appreciate that.

     The statements that you have made above are clear and simple. Cautious trust is what we need here. This gives us some hope that things can be different, that this is not another "get rich quick" scheme for the dev team. I think most of the community in general has the same attitude. Unfortunately, there are those who do exactly what we fear and create these garbage currencies that ultimately fail.

     I am not trying to predict the future of this coin. It could possibly fail as well, but I do not think a failure will come about as a result of the plans that have been laid before us. Lack of support, or a significant deviation from the plan are more likely a possible cause for failure. I understand that deviation from the plan can lead to lack of support, and lack of support could lead to deviation from the plan. But the plan with support could be a success.

     I guess what I am trying to say here is that it's a crapshoot. There is my ending humor again.  

Now stay tuned so you can learn "The rest of the story"

[Real_GM]

Seems like https://twitter.com/SolomonAircoin is more active than the official one. We should subscribe to this one as well.

Btw Sprite, I did chuckle at your post when you use the "small fonts". I like your humor.

The post I wrote is to get something off my chest, particular when people on most forums considers criticisms as trolling.

Thankfully, this thread is an exception as most can differentiate between criticisms and trolling. =)

[scottlilo]

difficulty is 12 already!! Man i really thought i had atleast a week to rip through blocks at difficulty 6...

It gets me giddy thinking about the potential prices if Net hash were to sky rocket to several G/Hash soon...

[infofront]

Opening exchange rates are expected at .00115 BTC/AIR, based off of current regression to the mean trends of .00002000 bitcoin-equivalent-per-kilohash-per-day, assuming a moderate difficulty (2 to 20) before entering an exchange. A higher launch difficulty will result in a higher exchange rate to return to the competitive mean.

THIS IS BULLSHIT.

OP is trying to become an instant millionaire.

Premine 0.25% from 1B coins = 2.5 Million coins * 0.00115 = 2875 BTC

Ask yourself how much it costs to set up a "investment pool that will day trade the coin (in various forms) against other cryptocurrencies".
Dont fall for this shit.

Have faith! Not all developers are after the same intention to become an instant millionaire. However, if they do become an instant millionaire along the way, good for them.

I agree. It's an investment. But I'm just saying those prices are ridiculous. Why does OP mention this in an ANN? Why can't he just build a coin, develop it and watch where it goes? It's because he's planning to cash out. Plain and simple. Look at UTC and learn. There's a difference between building a cryptocurrency and a trading asset.

Dynamic block-reward system based of exchange rates means supply will be manipulated (most proparbly decreased) to the point it reaches equilibrium. OP presents this as if no increase in demand is required to sustain price, which is exactly what a bubble is about. Prices go up based on speculation, which is no longer part of the equation since prices effect supply.

Price is a effect, not a cause.

Feel free to remind me of this post later on.

 0.00115 BTC per AIR is absolutely reasonable. Based on the current difficulty, I believe it should be even higher than that. At the 0.00115 BTC/1 AIR valuation, a miner will currently get $4.46/MH in gross revenue per day. Looking at coinwarz right this moment, that would put it right between DOGE, at $4.33/MH, and NET at $4.54/MH. For a new coin that includes some very novel, perhaps even disruptive, aspects, I'd say AIR should be more valuable than a $hitcoin like NET.

[CryptoKiller]

Hey Dev team, wondering if there's a p2pool source available?

Couldn't find one so I created a private pool using the source I edited here (https://www.mediafire.com/?tvv5f8ot9f4bm4c) Would be nice if the dev team can have a look at it and either fix it up or give it the go ahead. I really don't expect it to be correct.


I'm mining at my pool atm but I've only got 2200kh/s so it may take a while to verify if its finding blocks or not.

[CryptoPoolSupport]

PUBLIC ANNOUNCEMENT BY

http://air.cryptopool.eu

Don't run out of AIR - mine with us! We find blocks, but we need some more miners so help spread the hash!

* Dedicated servers with SSD (not VPS)
* 10 Gbit/s network
* DDoS protection
* Mail support!
* Backups of all wallets and pools!
* Professional team!
* The natural choice for mining!
* There is a mining fee of 1% and donations are appreciated!

[Sprite160]

PUBLIC ANNOUNCEMENT BY

http://air.cryptopool.eu

Don't run out of AIR - mine with us! We find blocks, but we need some more miners so help spread the hash!

* Dedicated servers with SSD (not VPS)
* 10 Gbit/s network
* DDoS protection
* Mail support!
* Backups of all wallets and pools!
* Professional team!
* The natural choice for mining!
* There is a mining fee of 1% and donations are appreciated!

Pay attention when you setup your account. It automagically defaults to donating 1% as well.

[Sprite160]

When can we expect trading at poloniex?

Waiting on some media contacts who will help cover the launch, but provided they come through, tomorrow is certain.

Hashrates continue to rise, now at a Difficulty of 8.5, 465 MH/s, and .00285 BTC/AIR. We may break 500 MH/s before we begin to trade.

Did the media contacts not come through?

[AIRcoin]

When can we expect trading at poloniex?

Waiting on some media contacts who will help cover the launch, but provided they come through, tomorrow is certain.

Hashrates continue to rise, now at a Difficulty of 8.5, 465 MH/s, and .00285 BTC/AIR. We may break 500 MH/s before we begin to trade.

Did the media contacts not come through?

We're still on standby. If we haven't gotten word in the next 6 hours, we will delay the launch by another day until we have confirmation.

[esotericizm]

When can we expect trading at poloniex?

Waiting on some media contacts who will help cover the launch, but provided they come through, tomorrow is certain.

Hashrates continue to rise, now at a Difficulty of 8.5, 465 MH/s, and .00285 BTC/AIR. We may break 500 MH/s before we begin to trade.

Did the media contacts not come through?

We're still on standby. If we haven't gotten word in the next 6 hours, we will delay the launch by another day until we have confirmation.

That's disapointing

[AIRcoin]

When can we expect trading at poloniex?

Waiting on some media contacts who will help cover the launch, but provided they come through, tomorrow is certain.

Hashrates continue to rise, now at a Difficulty of 8.5, 465 MH/s, and .00285 BTC/AIR. We may break 500 MH/s before we begin to trade.

Did the media contacts not come through?

We're still on standby. If we haven't gotten word in the next 6 hours, we will delay the launch by another day until we have confirmation.

That's disapointing

We're not the only ones who are incredibly busy getting prepared, it is our intention to do it right, rather than to rush it. More media coverage on the launch will almost certainly help any users of the coins currently.

[Juicemixer]

Are there any plans to sell some of the pre-mine at launch of an exchange or are you going to rely on the coins mined so far to determine market value by the miners selling them?

[tricass]

I asked a related question on the sub-reddit but still waiting for a reply there so might post it here too. My understanding is most of the pre-mine goes towards this investment pool used for trading. Do you need to sell AIR for BTC from this pool to fund the trading or will there be AIR trading pairs established by the exchanges or will there be some initial seed funding used for early trading?

[AIRcoin]

Are there any plans to sell some of the pre-mine at launch of an exchange or are you going to rely on the coins mined so far to determine market value by the miners selling them?

I asked a related question on the sub-reddit but still waiting for a reply there so might post it here too. My understanding is most of the pre-mine goes towards this investment pool used for trading. Do you need to sell AIR for BTC from this pool to fund the trading or will there be AIR trading pairs established by the exchanges or will there be some initial seed funding used for early trading?

The AIR will be converted to BTC or LTC (depending on available markets) to trade this investment pool, and then converted back to AIR when the pool grows, to raise the exchange rate or to counteract dumps. This is the primary way we stabilize the exchange rate. The pool allows us to leverage gains with this large volume. A 1% gain on a pool of 50,000 AIR equivalent allows us to counteract a 10% price fall in a market depth of 5,000 AIR, for example.

[tic-tac-totoro]

Are there any plans to sell some of the pre-mine at launch of an exchange or are you going to rely on the coins mined so far to determine market value by the miners selling them?

I asked a related question on the sub-reddit but still waiting for a reply there so might post it here too. My understanding is most of the pre-mine goes towards this investment pool used for trading. Do you need to sell AIR for BTC from this pool to fund the trading or will there be AIR trading pairs established by the exchanges or will there be some initial seed funding used for early trading?

The AIR will be converted to BTC or LTC (depending on available markets) to trade this investment pool, and then converted back to AIR when the pool grows, to raise the exchange rate or to counteract dumps. This is the primary way we stabilize the exchange rate. The pool allows us to leverage gains with this large volume. A 1% gain on a pool of 50,000 AIR equivalent allows us to counteract a 10% price fall in a market depth of 5,000 AIR, for example.

That's not really what I expected to hear. Basically means just another premine dump by the devs...

[sussex]

Are there any plans to sell some of the pre-mine at launch of an exchange or are you going to rely on the coins mined so far to determine market value by the miners selling them?

I asked a related question on the sub-reddit but still waiting for a reply there so might post it here too. My understanding is most of the pre-mine goes towards this investment pool used for trading. Do you need to sell AIR for BTC from this pool to fund the trading or will there be AIR trading pairs established by the exchanges or will there be some initial seed funding used for early trading?

The AIR will be converted to BTC or LTC (depending on available markets) to trade this investment pool, and then converted back to AIR when the pool grows, to raise the exchange rate or to counteract dumps. This is the primary way we stabilize the exchange rate. The pool allows us to leverage gains with this large volume. A 1% gain on a pool of 50,000 AIR equivalent allows us to counteract a 10% price fall in a market depth of 5,000 AIR, for example.

You presumably need to convert a significant percentage of the AIR into BTC at the very start to enable your trading - how are you going to be able to make your initial BTC/LTC trades without crashing the price?

EDIT:

Is this what the preparation and discussions were about with the exchanges, arranging to have your funds available on the exchange before anyone else?

[tricass]

@sussex

I think your last comment is a bit harsh. From what I've read and the impressions I've formed about the airteam do not lead me to think this is the case.

However, I am concerned about this initial, let's call in conversion instead of that nasty 'd' word. What volumes are we talking about? Is there a floor in the price you will not sell below? I'd imagine you'll have to slowly release them on the open exchange but at block 19,000+ there's already 70,000 odd AIR available so demand will have to be there for the pool to cash some of its AIR into BTC.

[sussex]

@sussex

I think your last comment is a bit harsh. From what I've read and the impressions I've formed about the airteam do not lead me to think this is the case.

However, I am concerned about this initial, let's call in conversion instead of that nasty 'd' word. What volumes are we talking about? Is there a floor in the price you will not sell below? I'd imagine you'll have to slowly release them on the open exchange but at block 19,000+ there's already 70,000 odd AIR available so demand will have to be there for the pool to cash some of its AIR into BTC.

I never used the "D" word?

It was a straightforward question and being first on the exchange could be legitimate in the sense of having a working pool of coins (or it could be malicious), but how can I make that judgement without having an answer?

The impression I have of the devs is also favourable, but I've mis-judged things before.

Anyway, this isn't really about the legitimacy of the devs, but a straightforward question about the mechanism.

[Sprite160]

Two questions.
1) What time zone are you in.

2) What kind of media coverage are you looking to secure?