[ANN] AIRcoin

[mushroomfour9]

i dont see why miners dump so early,the price could have gone way up if they didnt dump so soon

Proteus here,
There will be dumpers.  But we are (and have been) ready and waiting.  So far this initial pump and dump period isn't looking too crazy.  Big thanks to the informed traders/miners/investors educating others as to the nature of AIRcoin on Poloniex.  The coin will survive the pumpers and dumpers, and from there it looks like clear skies.

-- Lead Technical Developer

i hope so im really banking on aircoin sounds like it an interesting concept.I think another exchange will be a good ideal poloniex isnt to good for new coins.

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[sussex]

I've followed and mined this coin since the moment of it's release and I have to say it is far and away the most professional and (seemingly) genuine alt-coin release I have ever come across.

Now it is on an exchange and there are even devs responding to the trollbox! I mean, you seem to have thought of everything.

I'll be honest, I've mined quite a few Air over the weeks and my intention was to dump 66% more or less at market launch, keeping the other 33% to see what happens. However, after seeing your courteous and intelligent replies to anyone in the trollbox, I changed my mind, I'm keeping them for a while. my first ever "long-term coin"! Although, I can't promise there won't be a little day trading here and there  

Anyway, thanks Aircoin Team, I'm very, very impressed.

Edit:

While I typed this, I see the price jumped 30%, I might type some more 

[Real_GM]

Just like to say congratulations to you Aircoin team for a successful launch on the exchange.

The price was just as what you have described and steadily growing.

While I didn't have much hash power to begin with, I'm glad I mined it early on.

I have a couple of questions.

1. How often will Aircoin adjust it's reward and would it be announced beforehand?

2. When the Team (particular Theseus) make a profit on the "investment pool", how quick will that reflect on aircoin's value?

Thanks and keep up the good work.

[CryptoKiller]

I've followed and mined this coin since the moment of it's release and I have to say it is far and away the most professional and (seemingly) genuine alt-coin release I have ever come across.

Now it is on an exchange and there are even devs responding to the trollbox! I mean, you seem to have thought of everything.

I'll be honest, I've mined quite a few Air over the weeks and my intention was to dump 66% more or less at market launch, keeping the other 33% to see what happens. However, after seeing your courteous and intelligent replies to anyone in the trollbox, I changed my mind, I'm keeping them for a while. my first ever "long-term coin"! Although, I can't promise there won't be a little day trading here and there  

Anyway, thanks Aircoin Team, I'm very, very impressed.

Edit:

While I typed this, I see the price jumped 30%, I might type some more 

Yeah I have to agree with this. Big props to the dev team. Hopefully one step closer to achieving your goals.

[kache]

0.0026!!! You guys are awesome. If this continues, this might become one of the few coins that's actually worth mining. Props.

[Juicemixer]

Was able to purchase 700 coins before the price broke over .002 so I'm set for a while. Mining since day one only gave me 200 coins with my lonely 280x card and I see now that I'm lucky to have mined that much seeing how the difficulty has nearly doubled since yesterday.

[AIRcoin Proteus]

Just like to say congratulations to you Aircoin team for a successful launch on the exchange.

The price was just as what you have described and steadily growing.

While I didn't have much hash power to begin with, I'm glad I mined it early on.

I have a couple of questions.

1. How often will AIRcoin adjust it's reward and would it be announced beforehand?

2. When the Team (particular Theseus) make a profit on the "investment pool", how quick will that reflect on AIRcoin's value?

Thanks and keep up the good work.

1. It really depends on the expertise of the traders on the floor at the time, and Alexander can always personally override a directive.  This is sit-at-your-terminal-and-carefully-watch trading, and we are just going by the seat of our pants here.

2.  This goes back to 1.  To be honest though, we aren't in direct control of AIRcoin's price, we are just keeping it within a specific (not in our best interest to announce what this is specifically) range around the market price.    

EDIT: 2. is not even continuously.  Essentially if we see a potential problem, we move.  So far, the market seems to be doing fine without much help from us (odd, but incredible).

[niothor]

Glad to run into this by chance.
Probably one of the few altcoin released lately that deserve some praise.

The whitepaper could be done without so much concentrating on bitcoin "failures" but still interesting project and objectives. Will keep an eye on it.

[adhitthana]

Doesn't stack up IMHO.

1. Satoshi's original white paper makes the point that crypto coins cut out having to rely on a central authority. Yet with Aircoin we have to rely on an anonymous bunch of "economic experts".
2.We give them bitcoins
3.They fill the market with bots.

The only good point is that the concept allows a person to reduce risk by diversifying, but with Bitcoin already established I don't think I need that. And coins are so easy to buy and sell and commissions so low it's easy to diversify without the help off "expert traders", who are giving little and taking a lot

[adhitthana]

Glad to run into this by chance.
Probably one of the few altcoin released lately that deserve some praise.

What praise would you have for it?

[AIRcoin]

Doesn't stack up IMHO.

1. Satoshi's original white paper makes the point that crypto coins cut out having to rely on a central authority. Yet with Aircoin we have to rely on an anonymous bunch of "economic experts".
2.We give them bitcoins
3.They fill the market with bots.

The only good point is that the concept allows a person to reduce risk by diversifying, but with Bitcoin already established I don't think I need that. And coins are so easy to buy and sell and commissions so low it's easy to diversify without the help off "expert traders", who are giving little and taking a lot

I'd like to ask a few questions to make sure I'm reading your post correctly. Do you believe that the system outlined in Satoshi's whitepaper (https://bitcoin.org/bitcoin.pdf , correct?) is economically sustainable? Or do you consider any form of decentralization beneficial by nature, regardless of the economic principles behind it? Do you find algorithmic trading itself, to be wrong, or just the use of it in Cryptocurrency? To be able to say what "should" or "shouldn't" be done, you need some goal, or some comparative metric.

While a peer-to-peer money transfer system is exciting technology, there's a lot of problems that prevent its widespread adoption, most of them outlined in the whitepaper for AIRcoin. (http://www.teamaircoin.org/whitepaper.pdf). A few notes before details,however; AIRcoin doesn't make other cryptocoins more centralized. It's concept is, in some ways, more centralized in that there is an accountable authority that helps protect the coin. It is an attempt at an economically viable means of transaction that can be both accepted and adopted beyond the relatively small hobbyist and speculative market that Bitcoin has.

Your questions are qualitative, as in, they deal with opinion and what you think "should" or "shouldn't" happen. If you take a minute and elaborate, tell us little more information about your opinions, it could explain why you have these concerns, then we can have a starting point for a good discussion.

So, would you mind speaking a bit more about it?

- Alexander

[anonymousxx1503]

Hey Alexander - If the coin suddenly gets really popular and starts climbing the charts , will you be dumping on the market to stop it from growing more than a certain amount? Or will you adopt to the new rate and keep the coin at the new high exchange rate or something. Thanks.

[AIRcoin]

Hey Alexander - If the coin suddenly gets really popular and starts climbing the charts , will you be dumping on the market to stop it from growing more than a certain amount? Or will you adopt to the new rate and keep the coin at the new high exchange rate or something. Thanks.

We curb the rise in the rates, letting it continue to rise, by selling AIR, to slow the rate but not prevent (or worse, reverse) it. Once demand has stabilized at a new, higher price, the BTC we obtain from that is re-invested. Depending on how long it takes for the price to start coming back down (minutes, hours, weeks, etc.) our traders will grow that BTC volume. When the price starts falling, the system can buy back at a higher price determined by the gains on the trading. This means any pumps or dumps get "spread out" over long, long periods of time to prevent sudden rising or falling in the price. The longer it gets spread out, the greater the additional % rise on the final price will be.

In other words, yes, we adapt to new prices. A free market is usually very efficient, unless there are huge volatility or extremely low liquidity. We facilitate that, keeping the environment (The AIR Atmosphere? Perhaps?) friendly for traders and merchants rather than allowing it to exhibit the dramatic swings in prices that most coins have. It's in the best interest of the users to both protect themselves, and to protect the environment they are in. That's one of Bitcoin's primary flaws: while it has that sort of individual security, it has very little protection to its environment aside from its large trading volume, and as we all know, that can't stop it from rising or falling dramatically over 24 hours.

[anonymousxx1503]

Hey Alexander - If the coin suddenly gets really popular and starts climbing the charts , will you be dumping on the market to stop it from growing more than a certain amount? Or will you adopt to the new rate and keep the coin at the new high exchange rate or something. Thanks.

We curb the rise in the rates, letting it continue to rise, by selling AIR. Once demand has stabilized at a new, higher price, the BTC we obtain from that is re-invested. Depending on how long it takes for the price to start coming back down (minutes, hours, weeks, etc.) our traders will grow that BTC volume. When the price starts falling, the system can buy back at a higher price determined by the gains on the trading. This means any pumps or dumps get "spread out" over long, long periods of time to prevent sudden rising or falling in the price.

In other words, yes, we adapt to new prices. A free market is usually very efficient, unless there are huge volatility or extremely low liquidity. We facilitate that, keeping the environment (The AIR Atmosphere? Perhaps?) friendly for traders and merchants rather than allowing it to exhibit the dramatic swings in prices that most coins have. It's in the best interest of the users to both protect themselves, and to protect the environment they are in. That's one of Bitcoin's primary flaws: while it has that sort of individual security, it has very little protection to its environment aside from its large trading volume, and as we all know, that can't stop it from rising or falling dramatically over 24 hours.

Hey thanks for the answer. Everything sounds reasonable.

[Moebius327]

Code:

Est Next Difficulty 	27.50500303 (Change in 1809 Blocks)

My prediction is price will hit 0.05 in the next week. Don't sell too early and regret.

[AIRcoin]

Here are some statistics from our launch:

25 BTC Volume in the first 6 hours. AIRcoin alone provides 13% of Poloniex's total volume.

AIRcoin's market capitalization is (at this post, .00202 BTC/AIR, 640 BTC/USD) $3,225,865.09 making it the 19th largest Cryptocoin by market capitalization.

There are currently 153 BTC worth of AIR ($97,925.26) in circulation that is not part of the original premine. We estimate that about 30% of that is being actively traded, based on the trade volume and size of deposits on Poloniex.

Deposits from AIRcoin wallets to Poloniex (from our tests) take an average near 15 minutes to be able to trade.

Thanks to our market making algorithms, the spread has remained near 3% through most of the trading period, allowing quick sales. This is one reason for the high volume.

Code:

Est Next Difficulty 	27.50500303 (Change in 1809 Blocks)

My prediction is price will hit 0.05 in the next week. Don't sell too early and regret.

You are quite correct. Until the price reaches 0.005 BTC/AIR, it will remains "cheaper" to buy AIR and mine other coins at a lower difficulty. Hashrates have been consistently over 850 MH/S all night during the launch. We, unfortunately, have been close, but have not yet broken 1 Gigahash. However, we are at 953 MH/S, so it is possible that we may yet still breach it within the next 6 hours.

[anonymousxx1503]

Here are some statistics from our launch:

25 BTC Volume in the first 6 hours. AIRcoin alone provides 13% of Poloniex's total volume.

AIRcoin's market capitalization is (at this post, .00202 BTC/AIR, 640 BTC/USD) $3,225,865.09 making it the 19th largest Cryptocoin by market capitalization.

There are currently 153 BTC worth of AIR ($97,925.26) in circulation that is not part of the original premine. We estimate that about 30% of that is being actively traded, based on the trade volume and size of deposits on Poloniex.

Deposits from AIRcoin wallets to Poloniex (from our tests) take an average near 15 minutes to be able to trade.

Thanks to our market making algorithms, the spread has remained near 3% through most of the trading period, allowing quick sales. This is one reason for the high volume.

Code:

Est Next Difficulty 	27.50500303 (Change in 1809 Blocks)

My prediction is price will hit 0.05 in the next week. Don't sell too early and regret.

You are quite correct. Until the price reaches 0.005 BTC/AIR, it will remains "cheaper" to buy AIR and mine other coins at a lower difficulty. Hashrates have been consistently over 850 MH/S all night during the launch. We, unfortunately, have been close, but have not yet broken 1 Gigahash. However, we are at 953 MH/S, so it is possible that we may yet still breach it within the next 6 hours.

It's gonna show up close to the top and suddenly be worth from 3 to 4 million. Buying craze ensues like Aurora.

[poolers]

To the admin of okaypool, your pool is showing no blocks found for 4 hours.  Please check your cron jobs. Sorry if this has already been posted. Thanks.

[coinme.info]

Code:

Est Next Difficulty 	27.50500303 (Change in 1809 Blocks)

My prediction is price will hit 0.05 in the next week. Don't sell too early and regret.

+1 on this.

Difficulty 17 and Net Hash about to hit 1Ghs.

Ohh the good old days of below 4 and only 250Mhs.

This coin is hard to mine now.

It has to go up in price, otherwise why mine?

[AIRcoin]

999.098 MH/S on Block 20401, and, at last, 1.006 GH on block 20402!

On Block 20402, we just broke 1 GH of mining power. Difficulty is currently at 18.26, making AIR being mined at an opportunity price of .00615 BTC/AIR. Hashrates keep rising too, now at 1.01 GH.