[ANN] AIRcoin

[anonymousxx1503]

Right....please dev,expain what's happening!

I have seen AIRCOIN, read: STABLE,RISING ECHANGE RATE.

And bought 1btc of aircoin at 0.00196 cause you have say that below 0.002 was a good investement.

Now they arer quoted 0,00158 and very few buy,means that theyr quote will DRAMATICALLY decrease next hours.

From the day that i have bought them i have just starting to loose....

Seems 5 financial expert don't make a great work till now. Hope this coin is not just an experiment, and within some months it will die and dev starting a new one from ashesh of aircoin.

I mean....seems that aircoin is only a TEST from financial expert landed in cryptocurrency for first time.
And they know how to sell a product,that is dramatically falling down....

As explained in the previous post, this is exactly what is happening:

1. The inflation rate is steady, at ~2700 AIR per day
2. The Pool growth is steady. ~-300 AIR per day
3. The Demand is moving. (new users, currently not a large factor)
4. The supply is moving. (dumping, which is a large factor)

The inflation rate and the pool growth rate should bring the demand and supply in equilibrium to keep the exchange rate flat, plus a little to raise it slowly. However, they, which are supposed to respond to supply and demand, are instead very very out of balance (.5 BTC per day VS 5 BTC per day). This is because the pool cannot grow fast enough (exchange volume is too small) and the block reward does not change because we cannot implement the variable block reward on only one exchange (or we would risk, much worse, instability in the code).

The team is deciding exactly how to combat this, and it will either involve adjustments to the block reward or expenditure toward affecting the other 2 factors in the system. The first solution would come along with KGW adjustments to address concerns with the pulsating difficulty. Both of these are an attempt to provide a more realistic equilibrium, given that the current reward was chosen based on estimates from 3 weeks ago before the coin had launched.

In those estimates, we assumed a larger exchange volume, a lower rate of selling by miners, and a higher amount of new users and initial demand. The other solutions will involve capital spent (out-of-pocket, not the premine, as that would crash the market) on coding, media and exchanges to implement long-term solutions that raise the 24h volume and allow us to eventually implement the variable block reward. If we bought coins, that would be a short-term and very silly way, since, in one way, the equation is currently out of balance. Dumping BTC or AIR on either side does not make it self-sustaining.

It is not really a matter of panic or instability, if we did not have the investment pool at all, the price and volume would be much lower (~.001 and 10 BTC/day) and far more volatile. But a matter of underestimated rates. These last two days have given us enough data to experiment with to know, definitively, what economic forces are in play. As of today, we completely understand the problem and it's just a matter of deciding how to use our resources to reverse the trend, as explained before, there are quite a few options.

We are still deciding exactly what to do, and new options may present themselves, but those are the most viable solutions currently. Expect a definitive answer soon.

If you are worried about losing BTC, I will repeat looking toward the investment pool, which is growing despite the downturn in the market, as a demonstration on how to make profit in a downturn market.

I still suggest pumping in BTC to attract attention on top of coinmarket cap. Then you'll get your volume from people looking for the next train and you'll make money going up and down.

[AIRcoin]

A DECISION HAS BEEN MADE

A New Mandatory Wallet Update will be released. It will have the following:

1. A block reward of 1.96 Coins, which should give time for the exchange rate to adjust back up to stable values. This should return the mining opportunity price to .003 BTC/AIR @ 16 Difficulty.
2. A diminishing block reward that will decrease by 1% every day. This should stabilize the exchange rate's decline. This will be also be removed when there are enough reliable exchanges that the variable block reward can be implemented.
3. Adjustments to the KGW system to make it react better.
4. New Checkpoints and other minor tweaks.

This wallet will be finished by the end of today and then released late tomorrow, with the changes occurring soon in the block chain. This means we need ALL POOL OPERATORS TO BE READY FOR THE NEW WALLET. We are sorry for the abruptness of the release, but we feel it is necessary to maintain a sustainable exchange rate.

The reason these values were chosen is based off the performance of the investment pool in the last week. It should now be able to grow at a sufficient rate to counteract the supply/demand differential and inflation.

The decreasing block reward is insurance in the event that the exchange rate does start to fall again, in that it should curb that fall long enough to get on at least 1 other exchange so we have redundancy in the system for the variable block reward.

We will update with an explicit time that the new wallet will be released, along with the block # that the new reward will begin. Expect the wallet release to occur within 12 hours.

If it's any consolation, that gives you ~24-36 hours before the exchange rate will begin rising during which you can stockpile AIR at a cheaper price.

(post edited to reflect change in release time, to give people adequate time to prepare)

[infofront]

The only problem with that solution is that it may cut the difficulty in half. Decreasing block rewards generally have a direct correlation with decreasing hashrates. Hopefully an increase in price will offset this.

[AIRcoin]

The only problem with that solution is that it may cut the difficulty in half. Decreasing block rewards generally have a direct correlation with decreasing hashrates. Hopefully an increase in price will offset this.

That is normally true when there is no activity against inflation, but as you said, an increase in price would offset the reduced hashrates.

We've also noticed that despite the falling price, mining hashrates are still within 20% of their peaks on a regular basis, so demand to mine the coin is still strong. We may see a temporary drop in mining power, but it should re-correct itself at the new equilibirum.

[mkasiak]

Dear developers of Aircoin,

the only way how you can rise price of coin with premined 2%  is earning trust of investors. You can get it only by 100% protection against premine abuse. There are ways how to do it.

As it seems, you are completely ignoring this topic, I am out. Talking about trade system and market manipulation is nice, but it is not (all) what people want to hear. Especially when the system obviously does not work as you expected (also you admit it).  Now we should look on another experiment. 

But thanks, I have earned  enough to be happy (by early mining mostly). I will have nice memories of time with this coin 

Bye!

[CryptoKiller]

Dear developers of Aircoin,

the only way how you can rise price of coin with premined 2%  is earning trust of investors. You can get it only by 100% protection against premine abuse. There are ways how to do it.

As it seems, you are completely ignoring this topic, I am out. Talking about trade system and market manipulation is nice, but it is not (all) what people want to hear. Especially when the system obviously does not work as you expected (also you admit it).  Now we should look on another experiment. 

But thanks, I have earned  enough to be happy (by early mining mostly). I will have nice memories of time with this coin 

Bye!

Bordering on a troll post. Glad you have given your coins away as miners like you are the reason the price is lower than it probably should be.

I'm unsure why the premine of this coin seems to have people up in arms more than any other premined coin (seems this way). I'm fairly certain the dev's have no intention of keeping their identities secret long term.

Thanks for selling me your cheap coins

[infofront]

Dear developers of Aircoin,

the only way how you can rise price of coin with premined 2%  is earning trust of investors. You can get it only by 100% protection against premine abuse. There are ways how to do it.

As it seems, you are completely ignoring this topic, I am out. Talking about trade system and market manipulation is nice, but it is not (all) what people want to hear. Especially when the system obviously does not work as you expected (also you admit it).  Now we should look on another experiment. 

But thanks, I have earned  enough to be happy (by early mining mostly). I will have nice memories of time with this coin 

Bye!

To a large extent, the whole premise of the coin demands that movement of the premine and investment funds remain opaque.

[AIRcoin]

Dear developers of Aircoin,

the only way how you can rise price of coin with premined 2%  is earning trust of investors. You can get it only by 100% protection against premine abuse. There are ways how to do it.

As it seems, you are completely ignoring this topic, I am out. Talking about trade system and market manipulation is nice, but it is not (all) what people want to hear. Especially when the system obviously does not work as you expected (also you admit it).  Now we should look on another experiment. 

But thanks, I have earned  enough to be happy (by early mining mostly). I will have nice memories of time with this coin 

Bye!

To a large extent, the whole premise of the coin demands that movement of the premine and investment funds remain opaque.

Although that does not prevent individuals for checking on them via the block explorer, which tracks the premined transactions quite clearly.

[buddymoon94]

Hey guys I've been mining at air.ctrlaltdefeated and this message just popped up so i figured i would let every one know about it. "Probably going to shut this pool down today instead of upgrading to the new wallet. If you guys would please start withdrawing your coins so that I don't need to manually pay everyone out it would be appreciated."

[fabula]

Dear DEV,

i have note you public words to all community and to the entire world of cryptos:


AIRCOIN:
If it's any consolation, that gives you ~12-24 hours before the exchange rate will begin rising during which you can stockpile AIR at a cheaper price.

Started:
March 18 at 0,00189
Now:
March 20 at 0,00144


We will see next 12-24 hours what's happen.

[Cryptosapiens]

.....
Thanks for selling me your cheap coins

LoL

[Cryptosapiens]

Dear DEV,

i have note you public words to all community and to the entire world of cryptos:

AIRCOIN:
If it's any consolation, that gives you ~12-24 hours before the exchange rate will begin rising during which you can stockpile AIR at a cheaper price.

Started:
March 18 at 0,00189
Now:
March 20 at 0,00144

e will see next 12-24 hours what's happen.

I don't know how many times has been said in this forum that AIR is a long term coin.

Honestly i don´t know what is possible to tell you that will make you STOP all this constant  bitching about how you are losing money and the DEV´s can´t keep to their promises  and bla, bla, bla.

I'm starting to remember why i divorced from my ex-wife 

[fabula]

Dear DEV,

i have note you public words to all community and to the entire world of cryptos:

AIRCOIN:
If it's any consolation, that gives you ~12-24 hours before the exchange rate will begin rising during which you can stockpile AIR at a cheaper price.

Started:
March 18 at 0,00189
Now:
March 20 at 0,00144

e will see next 12-24 hours what's happen.

I don't know how many times has been said in this forum that AIR is a long term coin.

Honestly i don´t know what is possible to tell you that will make you STOP all this constant  bitching about how you are losing money and the DEV´s can´t keep to their promises  and bla, bla, bla.

I'm starting to remember why i divorced from my ex-wife 

LOL!   I know. AIR is a long term coin. Just kidding!
Take it easy.

[CryptoKiller]

I'm starting to remember why i divorced from my ex-wife 

She wanted you to dump your crypto's cheap? If that's the case you did the right thing mate. Fucking Crypto-Diggers

[infofront]

The ladies just want me for my aircoins.

[Juicemixer]

Purchased another .5 btc worth before the update sets in. So far my two coins that I trust investing in is AIR and blackcoin. Now if only that securecoin would go up in value so I can cash in. It's either that or take a loss on it.

[adhitthana]

I don't know how many times has been said in this forum that AIR is a long term coin.

Aircoin can only be alongterm coin if the model can work as the pool grows.
I think it is questionable they will be able to continue to benefit from market inefficiencies to anywhere near the same extent as the pool grows.
So that will mean they will be some kind of Index fund, IIUC, holding a basket of crypto coins. However they still have to pay expenses out of the pool too.
There is no clear plan released how this is achievable, and to get serious investors on board, I think they'd need to explain just how it will work a bit more thoroughly

[AIRcoin]

I don't know how many times has been said in this forum that AIR is a long term coin.

Aircoin can only be alongterm coin if the model can work as the pool grows.
I think it is questionable they will be able to continue to benefit from market inefficiencies to anywhere near the same extent as the pool grows.
So that will mean they will be some kind of Index fund, IIUC, holding a basket of crypto coins. However they still have to pay expenses out of the pool too.
There is no clear plan released how this is achievable, and to get serious investors on board, I think they'd need to explain just how it will work a bit more thoroughly

An index is one possibility, but high frequency trading on other altcoins is a far more lucrative one (with greater gains but far less risk) that will sustain the pool. Index investments however, serve their own important purpose in the Altcoin world. It's one of our next major advances we're experimenting with, and once AIRcoin is a bit more fine-tuned, we'll work on progress on that front.

[AIRcoin]

We have made the decision to delay the wallet update to be more fair to Pool operators. It was sudden and rushed, so to smooth things out and be more fair, we will release the wallet late tomorrow rather than in the next few hours. This gives a guaranteed 24 hours of time between our announcement and the release for everyone to be prepared for.

The last thing we want is for pool operators to be squeezed out because of the effect of inflation.

If anyone has concerns about the new block reward, please post them so we can discuss it and improve how we update the wallet.

[flinchy]

nah it's not that, ASIC's have barely been designed let alone built...

Lolwut, Gridseed are sold like candies now...

PROPER ASIC's i mean.. gridseeds are hardly better, if at all depending how much you pay for them.

A DECISION HAS BEEN MADE

A New Mandatory Wallet Update will be released. It will have the following:

1. A block reward of 1.96 Coins, which should give time for the exchange rate to adjust back up to stable values. This should return the mining opportunity price to .003 BTC/AIR @ 16 Difficulty.
2. A diminishing block reward that will decrease by 1% every day. This should stabilize the exchange rate's decline. This will be also be removed when there are enough reliable exchanges that the variable block reward can be implemented.
3. Adjustments to the KGW system to make it react better.
4. New Checkpoints and other minor tweaks.

This wallet will be finished by the end of today and then released late tomorrow, with the changes occurring soon in the block chain. This means we need ALL POOL OPERATORS TO BE READY FOR THE NEW WALLET. We are sorry for the abruptness of the release, but we feel it is necessary to maintain a sustainable exchange rate.

The reason these values were chosen is based off the performance of the investment pool in the last week. It should now be able to grow at a sufficient rate to counteract the supply/demand differential and inflation.

The decreasing block reward is insurance in the event that the exchange rate does start to fall again, in that it should curb that fall long enough to get on at least 1 other exchange so we have redundancy in the system for the variable block reward.

We will update with an explicit time that the new wallet will be released, along with the block # that the new reward will begin. Expect the wallet release to occur within 12 hours.

If it's any consolation, that gives you ~24-36 hours before the exchange rate will begin rising during which you can stockpile AIR at a cheaper price.

(post edited to reflect change in release time, to give people adequate time to prepare)

1.96 coins

hash rate has gone up

reward going down

think i might swap to vertcoin until the reward goes back up.

OTOH, lower reward will make hash rate drop from people thinking like me

seriously, i don't know how you think creating a drop in the reward of a coin where the price currently isn't high enough, is a good thing... basically putting it all in the hope that it makes the exchange rate go up, when the dumping stops... but the exchange rate would rise when the dumping stopped anyway, this just means i end up with less air for my electricity lol.

Hey guys I've been mining at air.ctrlaltdefeated and this message just popped up so i figured i would let every one know about it. "Probably going to shut this pool down today instead of upgrading to the new wallet. If you guys would please start withdrawing your coins so that I don't need to manually pay everyone out it would be appreciated."

ffs seriously @ctrlaltdefeated ?

you suck!