[ANN] AIRcoin

[adhitthana]

Thanks for the answers. This clears things up for me. Looking forward to "AIRcoin: The First 24 Hours"!

This coin could be fun to trade. We have already a severe shock which the experts did not forsee. So confidence will be shaky. Then we have some kind of commitment to support the coin, which will probably come into conflict with sensible trading.

But I think the problem is teamAIR want to impress the bankers but the white paper is so patronizing and condescending towards the crypto community. Not a recipe for success IMHO

[andyatcrux]

This is from the OP on page 1.
The 0.25% premine is exclusively for an investment pool that will day trade the coin (in various forms) against other cryptocurrencies. By growing the total BTC equivalent of this coin, the profits will be spend back on the AIR/BTC exchange rate, buying up for sale coins and raising the exchange rate long term. The Allied Investors trading floor, utilizing existing Cryptocurrency markets, can increase the rate by 5% per week. This approximately doubles the exchange rate every 3 months.

So did you sell AIR in the market to get BTC. I actually don't care but it would be nice to clear it up. Thanks

I am not sure what parts you are reading, but I don't know how many more ways it can be said other than a one liner. Yes, they sell the premine for BTC to inject back into the market and invest in other opportunities to make more BTC, etc. They started with some BTC.

[adhitthana]

I am not sure what parts you are reading, but I don't know how many more ways it can be said other than a one liner. Yes, they sell the premine for BTC to inject back into the market and invest in other opportunities to make more BTC, etc. They started with some BTC.

If they started with BTC then why do they need to sell AIR to investors from premine? Unless they didn't start with much BTC. I mean they have pumped the product then sold to buyers. Then the price has collapsed and some poor buyers have panicked and dumped.
You don't see a conflict of interest?

Isn't that what the banks were criticized for. Pumping CDO's and selling them to clients?

[hughjays77]

I forgive you. Maybe its my MSc Finance and being at the 'right hand' of real power that lets me know that Alexander is 100% correct. The 10billion Crypto is peanuts to the big boys. Perhaps you should stop showing your lack of experience and instead learn a thing or 2  

Thanks for the answers. This clears things up for me. Looking forward to "AIRcoin: The First 24 Hours"!

This coin could be fun to trade. We have already a severe shock which the experts did not forsee. So confidence will be shaky. Then we have some kind of commitment to support the coin, which will probably come into conflict with sensible trading.

But I think the problem is teamAIR want to impress the bankers but the white paper is so patronizing and condescending towards the crypto community. Not a recipe for success IMHO

[adhitthana]

I forgive you. Maybe its my MSc Finance and being at the 'right hand' of real power that lets me know that Alexander is 100% correct. The 10billion Crypto is peanuts to the big boys. Perhaps you should stop showing your lack of experience and instead learn a thing or 2  

I worked for a global Investment bank for 9 years. I'm well aware of the fact it's peanuts.
But my experience in life is a little wider than that stint, and I know that money can't buy you some things.

Money can't buy you the ground that Bitcoin has taken. No Investment bank could possibly have dome what they have done, no matter how much money they threw at it.

[AIRcoin]

If you want to know how Bitcoin is going to be regulated, or how seriously it is taken in financial business, you have to ask the people with the power to do it.

If only we lived in a democracy. We could tell them how to do it. Oh well.

You are correct, and I recommend that if you want to prevent Bitcoin regulation, you should vote for Congressmen who will vote against SEC regulation bills regarding cryptocurrency, and that if you believe you have the best solution for regulation, then you should phone or write your congressmen describing the problems. You may also donate to the campaigns of new congressmen who are in support of Bitcoin in hopes they will be elected. However, beyond that, the individual citizen has little power in drafting or voting on legislation that passes through the US government, although you may consider using your right to protest to support Bitcoin. Another possibility is for you to run for congress yourself if you fit the qualifications. Those are the powers, quite clearly, that the citizens of the United States have to influence legislation.

These companies,overnight, can assemble a team of developers and pay them more money than the entire cumulative value of the entire Bitcoin Foundation, and within weeks, develop a financial weapon that would end the future of Bitcoin as we know it.

No they can't.
Alexander, you have provided no reasoning, no evidence, no explanation.
All you seem to have is a belief in the omnipotence of these guys, which you insist everyone must share.

What we have provided, by definition, is reasoning, evidence, and explanation. However, if the amount we haven't provided isn't sufficient enough for you, or if you don't agree with what we have provided, then do not buy AIRcoin. But there are some things we are not able to say.

However, I would like you to always keep in mind that we chose to divulge what information we could, in light of what we know, and spend significant resources on this rather than creating a Dogecoin clone. If we are wrong about the future, however unlikely we believe that is, we will have at least created a competitive cryptocurrency much better than most.

I am not sure what parts you are reading, but I don't know how many more ways it can be said other than a one liner. Yes, they sell the premine for BTC to inject back into the market and invest in other opportunities to make more BTC, etc. They started with some BTC.

If they started with BTC then why do they need to sell AIR to investors from premine? Unless they didn't start with much BTC. I mean they have pumped the product then sold to buyers. Then the price has collapsed and some poor buyers have panicked and dumped.
You don't see a conflict of interest?

Isn't that what the banks were criticized for. Pumping CDO's and selling them to clients?

We sell small portions of the premine when necessary to prevent a price spike early on, as a mechanism of price stabilization. We don't sell when the market is falling, as it would defeat the purpose. The price would fluctuate more (crashing harder after higher rises) if we did not sell during spiking periods.

A note on CDOs, CDOs were a huge issue because they were being stamped as AAA investments, erroneously under the belief that by packaging together many subprime mortgages it abated the risk of an individual one. This make them potentially high-yeild and a bubble ensued as a result, so long as the companies could keep their short-term risk in control. This is just one facet however of a very, very complex financial situation that resulted in the 2008 crisis, and the description here is very inadequate, but could give you an idea of the economic failures of such a system, from those improper risk measurements.

I forgive you. Maybe its my MSc Finance and being at the 'right hand' of real power that lets me know that Alexander is 100% correct. The 10billion Crypto is peanuts to the big boys. Perhaps you should stop showing your lack of experience and instead learn a thing or 2  

I worked for a global Investment bank for 9 years. I'm well aware of the fact it's peanuts.
But my experience in life is a little wider than that stint, and I know that money can't buy you some things.

Money can't buy you the ground that Bitcoin has taken. No Investment bank could possibly have dome what they have done, no matter how much money they threw at it.

In my opinion, personally, not reflective of the rest of AIRcoin, money can shrink the ground that Bitcoin stands on, and money can certainly tap into the much, much larger plot of land that Bitcoin is far too slow to expand into.

[adhitthana]

What we have provided, by definition, is reasoning, evidence, and explanation. However, if the amount we haven't provided isn't sufficient enough for you, or if you don't agree with what we have provided, then do not buy AIRcoin.

I think I will buy some. In fact I bought as low as 0.001 just before, off some poor soul who panicked because the promised support was absent

We sell small portions of the premine when necessary to prevent a price spike early on, as a mechanism of price stabilization. We don't sell when the market is falling, as it would defeat the purpose. The price would fluctuate more (crashing harder after higher rises) if we did not sell during spiking periods.

I can understand that might be good (for some), but, you have not dealt with the huge conflict of interest. You pump the coin and then sell spikes!

[ISAWHIM]

Ok, so the trades alone are not going to make the coin live... and be self-sustaining, even with the best market manipulation.

What is being done for services, integration, and "Ease of customer use". (Lets face it, these wallets intended for mining and geeks, are NOT customer friendly, at all.)

What we need is a wallet, that is simply a wallet, with wallet-tools. (A KISS program that doesn't require users to create files and open ports and setup RPC and add nodes or show technical useless information, while it actually has the missing user-demanded functions that no wallet has.)

Missing things...
- Manual paper-wallet details (For use to manually back-up or create a wallet and the keys.)
- CSV text-exporting of all wallet addresses, for recreation that the "raw wallet" can not do, when restoring from an older wallet with only the original 100 pre-made addresses in it. The additional addresses beyond that 100 become lost forever. You can never guess what they were. Unless you use a "fixed repeatable pseudo-random number generator and a seed". Which these wallets do not have. They are random by time. Thus, not repeatable.
- CSV text-exporting of transaction data, for records, which can actually be read by spread-sheet programs.
- QR-Codes (Easy and free to add to the wallet.)
- Encryption-safety (Telling people they will lose all the coins in the wallet is not only stupid, but unnecessary. The wallet could easily "create a new encrypted wallet, and simply deposit the coins from the unencrypted wallet, into the encrypted wallet that is made. Then, once successfully transferred, the old unencrypted wallet could be archived, just in-case, and the encrypted wallet made the primary wallet. That was just a way to destroy innocent coins, and did NOT have to be done that way. Don't contribute to that fucked-up programming ethic.)
- No mining crap in the "consumer wallet", that is just bloat.
- Fast-DB, since consumers don't need the WHOLE chain. They only need the portions relevant to them, from the date the wallet was created. In time, they could get the summary or whole compressed DB, but we should be sending them the "fast-db" results only relevant to them. (They still can't spend coins that they don't have, so it would not even matter if the whole chain was complete for them. If they actually need it, then it should be a background thing, not a primary limitation of the wallet.) Only miners need the whole chain. Also, in the event of forking, the wallets need some way to "revert to an earlier date", so they can attempt to get on the right chain. No wallet, to date, does this. We all have to delete the whole chain, revert manually to a back-up if we have one, then attempt to get on the new chain... Repeat if we get screwed and get stuck on the wrong chain again. (EG, give us a block-number to revert to. You UNDO all those blocks, down to the number we set, where we can get to the point before the fork. This number should also be included in any updates, as the last known "forward" point. That, or broadcast by the devs, on the network, between checkpoints.)

Then we need reasons for people to buy the coins, besides hoarding.

Gambling is not a good source of value. People pay, people win, dealers cash-out, winners cash-out. Unless the gambling holds a ton of coins for a long time, it is not a source of value increase. (That would be actual losses, like a wallet-eater or some stupid code like destroying your coins by encrypting your wallet after coins are already in there.)

Someone has to have an easy way to setup shop, without having to be a programmer or linux-user, for integration. (Simple server daemons, exchange-API services, with cut/paste code for common web-shop programs and CMS's. Oh, and something to convince them to have a "buffer" of coins, as instant exchange value, and showing them how to "keep coins" when values are low, and only "direct cash-out" when values are high. If they are willing to take that risk.)

Offline printable QR-coded paper-wallets... (I use the creators code in the link below, for offline wallet creation. It has to be programmed for AIRcoin's attributes.)
https://www.bitaddress.org/bitaddress.org-v2.8.1-SHA1-a6e63f2712851710255a27fa0f22ef7833c2cd07.html
Gotta go to the git-hub and make a branch for AirCoin... (It is intended to be saved to your desktop, and run offline. All code is self-contained in the HTML itself, including the images.)

Paper-wallets are like gift cards... they always have change that is never spent, some get lost, some get destroyed... that is instant value. Not to mention, if they took the time to print a paper-wallet, they are planning on holding securely for a while.

[adhitthana]

A note on CDOs, CDOs were a huge issue because they were being stamped as AAA investments,

You've seen the Muppet Show haven't you?
Somehow the banks ignored their conflict of interest, and it ended very badly for investors.

[AIRcoin]

Ok, so the trades alone are not going to make the coin live... and be self-sustaining, even with the best market manipulation.

What is being done for services, integration, and "Ease of customer use". (Lets face it, these wallets intended for mining and geeks, are NOT customer friendly, at all.)

What we need is a wallet, that is simply a wallet, with wallet-tools. (A KISS program that doesn't require users to create files and open ports and setup RPC and add nodes or show technical useless information, while it actually has the missing user-demanded functions that no wallet has.)

Missing things...
- Manual paper-wallet details (For use to manually back-up or create a wallet and the keys.)
- CSV text-exporting of all wallet addresses, for recreation that the "raw wallet" can not do, when restoring from an older wallet with only the original 100 pre-made addresses in it. The additional addresses beyond that 100 become lost forever. You can never guess what they were. Unless you use a "fixed repeatable pseudo-random number generator and a seed". Which these wallets do not have. They are random by time. Thus, not repeatable.
- CSV text-exporting of transaction data, for records, which can actually be read by spread-sheet programs.
- QR-Codes (Easy and free to add to the wallet.)
- Encryption-safety (Telling people they will lose all the coins in the wallet is not only stupid, but unnecessary. The wallet could easily "create a new encrypted wallet, and simply deposit the coins from the unencrypted wallet, into the encrypted wallet that is made. Then, once successfully transferred, the old unencrypted wallet could be archived, just in-case, and the encrypted wallet made the primary wallet. That was just a way to destroy innocent coins, and did NOT have to be done that way. Don't contribute to that fucked-up programming ethic.)
- No mining crap in the "consumer wallet", that is just bloat.
- Fast-DB, since consumers don't need the WHOLE chain. They only need the portions relevant to them, from the date the wallet was created. In time, they could get the summary or whole compressed DB, but we should be sending them the "fast-db" results only relevant to them. (They still can't spend coins that they don't have, so it would not even matter if the whole chain was complete for them. If they actually need it, then it should be a background thing, not a primary limitation of the wallet.) Only miners need the whole chain. Also, in the event of forking, the wallets need some way to "revert to an earlier date", so they can attempt to get on the right chain. No wallet, to date, does this. We all have to delete the whole chain, revert manually to a back-up if we have one, then attempt to get on the new chain... Repeat if we get screwed and get stuck on the wrong chain again. (EG, give us a block-number to revert to. You UNDO all those blocks, down to the number we set, where we can get to the point before the fork. This number should also be included in any updates, as the last known "forward" point. That, or broadcast by the devs, on the network, between checkpoints.)

Then we need reasons for people to buy the coins, besides hoarding.

Gambling is not a good source of value. People pay, people win, dealers cash-out, winners cash-out. Unless the gambling holds a ton of coins for a long time, it is not a source of value increase. (That would be actual losses, like a wallet-eater or some stupid code like destroying your coins by encrypting your wallet after coins are already in there.)

Someone has to have an easy way to setup shop, without having to be a programmer or linux-user, for integration. (Simple server daemons, exchange-API services, with cut/paste code for common web-shop programs and CMS's. Oh, and something to convince them to have a "buffer" of coins, as instant exchange value, and showing them how to "keep coins" when values are low, and only "direct cash-out" when values are high. If they are willing to take that risk.)

Offline printable QR-coded paper-wallets... (I use the creators code in the link below, for offline wallet creation. It has to be programmed for AIRcoin's attributes.)
https://www.bitaddress.org/bitaddress.org-v2.8.1-SHA1-a6e63f2712851710255a27fa0f22ef7833c2cd07.html
Gotta go to the git-hub and make a branch for AirCoin... (It is intended to be saved to your desktop, and run offline. All code is self-contained in the HTML itself, including the images.)

These are all great suggestions, and some of them we've already started experimenting with for future wallet releases. We're still early in the game, and as fast as our team can work, there's a lot of stuff on the to-do list. It is definitely our intention to make this wallet one of the most ubiquitous, easy to use wallets out there, but we will need time to implement all of our ideas with certainty and safety. These ideas have now all been integrated into our update schedules for the wallet, and we'll try to add them to the newer versions as we release them.

[JTB800]

A note on CDOs, CDOs were a huge issue because they were being stamped as AAA investments,

You've seen the Muppet Show haven't you?
Somehow the banks ignored their conflict of interest, and it ended very badly for investors.

I don't understand -- can you not read -- do you have ADD? If you truly worked for an investment bank it really does explain a lot of their problems.

[Real_GM]

Food for thoughts.

http://www.cryptoscribe.com/market-trends/premature-multi-listing-destroys-new-coin-prices/

I guess sticking with Poloinex for awhile is a good thing.

[Cryptosapiens]

I have to admire the patience that Alexander and his team posses in order to answer over and over again the same questions.

I also have a feeling that some users on this forum seem to take great pleasure when AIR takes a step back, and  i have no doubt that some others are working actively to make that happen.

Although i think we can't blindly follow some guy that comes along promising heaven on heart, there a point where some trust have to step in, and we have to stop trying to dig for some malefic intention.

It's my belief that Alexander and his team are light-years ahead from the usual DEV scammers lurking on this forum, maybe they are just more elaborate scammers, or maybe they are really what they say, one can never truly know, however at this moment i think there a much bigger probability for them to be "honest" than scammers.

I would like to remember all the doomsaying, frustrated and distrustful AIR users out there, that NOONE is forcing you to mine, buy or sell this coin, so at this moment if you are not here to help support AIR, please go away,  we don´t need you!

[sussex]

I have to admire the patience that Alexander and his team posses in order to answer over and over again the same questions.

I also have a feeling that some users on this forum seem to take great pleasure when AIR takes a step back, and  i have no doubt that some others are working actively to make that happen.

Although i think we can't blindly follow some guy that comes along promising heaven on heart, there a point where some trust have to step in, and we have to stop trying to dig for some malefic intention.

It's my belief that Alexander and his team are light-years ahead from the usual DEV scammers lurking on this forum, maybe they are just more elaborate scammers, or maybe they are really what they say, one can never truly know, however at this moment i think there a much bigger probability for them to be "honest" than scammers.

I would like to remember all the doomsaying, frustrated and distrustful AIR users out there, that NOONE is forcing you to mine, buy or sell this coin, so at this moment if you are not here to help support AIR, please go away,  we don´t need you!

I'm sorry Cryptosapien, but we do need criticism (even trolls)  here - if the coin can't fend off criticism here it stands no chance in the wider world.

[albertdros]

just curious how exactly devs will handle snowball effect.

Someone dumped 1600 coins and completely crushed the price. Price went back up but miners have left and it gets more tempting to dump. More dumps -> more miners leave. Snowballing into lower value. It also goes the other way around of course.

[UrsaMajorisBeta]

Ignore the dumpers, they will regret it later

[Cryptosapiens]

I'm sorry Cryptosapien, but we do need criticism (even trolls)  here - if the coin can't fend off criticism here it stands no chance in the wider world.

Constructive criticism is a good good thing.... but unfortunately i haven't seem much of it.  Trolls really i have no patience to them...maybe you are younger than me 

[adhitthana]

I'm sorry Cryptosapien, but we do need criticism (even trolls)  here - if the coin can't fend off criticism here it stands no chance in the wider world.

Constructive criticism is a good good thing.... but unfortunately i haven't seem much of it.  Trolls really i have no patience to them...maybe you are younger than me  

If anyone wants Aircoin regulated then IMO they should consider how a regulator might consider each aspect of the operation.
Do you think it's possible a regulator might see an issue?
If Aircoin were regulated and people lost money then one should consider how each aspect will look then. How will it look afterwards

I think that is worth considering. They might be taking a model from another financial market (market making) and applying it to a different animal.
What might not be seen as wrong in another market may be seen as questionable with Aircoin because the coin that is sold is a  created coin, so one doesn't incur the same liability

[sussex]

I'm sorry Cryptosapien, but we do need criticism (even trolls)  here - if the coin can't fend off criticism here it stands no chance in the wider world.

Constructive criticism is a good good thing.... but unfortunately i haven't seem much of it.  Trolls really i have no patience to them...maybe you are younger than me  

How do you decide what is "constructive"?

I've been quite active on the Maza thread pointing out the flaws and dubious qualities of the coin and making pretty good predictions about it . 99% of the replies I received were just calling me a troll without any substantial rebuttal of the points I raised. Well, they have now lost a ton of money.

If we are subject to trolling (I've seen very little here) we should just respond in an adult and intelligent way - change their minds.

I was very impressed with the patience and respect the devs gave to the trolls in the trollbox on Poloniex the other night - we should take an example from them.

Edit:

I might add that I made my biggest single profit on Maza and I may make my biggest loss on Air (having seen the price slide 20%+ over the last twelve hours), but I am still happy for anyone to post critical comments here, confident that they will get a serious and adequate response from the community.

[splawik21]

People who sell at 0,0018 today will regret it.

agree

+1.

If I have some free btc i put buy request