[ANN] AIRcoin

[Sprite160]

Anybody have a suggestion for a pool they want me to setup? NOT shutting down air.carbonshark.com , just thinking of maybe setting up a new pool for a different coin. Taking suggestions..

[Turpomann]

EDIT:

To make sure our point is clear: this coin is not dead. We are still actively working full time on it, and it has only been in the market for one week. We are changing our objectives and methods, but that does not mean, in any way, that we are abandoning the coin. For a brief period, it will not be supported by our system, but that does not mean we are not going to implement a new system or that we have abandoned the investment system in any way.

You better be working on it. I can't afford to leave anymore. Instead, I have to buy more very cheap coins out of the desperation. It can't get any worse than this. Only way is up now.

[Real_GM]

Awww. That is some painful fall...  

Too bad the experiment didn't work out the way it was anticipated.

If the marketing was better at the beginning it may have helped...

Kind of feel bad for the people who bought in early...

Well, at least the Aircoin team came clean on what didn't worked.... lesson learned for all future coin developers.

I truly hope that there is a plan B, but that was a rather discouraging post from the Devs.

Hope you are able to regroup and think of a new plan Aircoin team, it's never too late to do some CPR on aircoin. =)

PS. #1 priority maybe to introduce new wallet to differentiate aircoin from other scrypt clones. then #2 a new investment plan and how to balance between miners dump and the value of the coin #3 better marketing

[flinchy]

Did you just basically say your coin is a worthless clone now, after one fucking week?


Edit : Now AIRcoin has become a simple scrypt clone with a HUGE premine . Sweet. Dumps down to 0.00026

yep, that's what i got out of this

the ONLY good part of the coin was a total failure.

just another shitcoin, what a waste, lesson learnt, NEVER BELIEVE THE DEVS UNTIL IT'S SET IN STONE.

In the last two days, we have seriously reviewed our internal structure and how we manage ourselves, the coin, and the community, and we've decided to regroup and reorganize to focus on real-world media, endorsement, and infrastructure. The coin is only a week old on an exchange. It is a living financial experiment, that is under improvement, and those who purchased AIRcoin should know this, and our theory is applicable and works well, but requires an environment that we need to properly build from the ground up, beyond the very small environment offered by just the existing market. It is now our duty to do whatever is necessary to change the system or the environment, so that it works long-term.

This means, clearly, we are seeking a larger real world audience, changing our policies on privacy, making more connections with real world business to accept AIRcoin, and whatever else is necessary to create an ideal economic environment for a large volume exchange. We have not abandoned this coin, nor have we planned on doing so. We intend on making AIRcoin both stronger in code, system, economics, and usage in the real world.

The investment pool and trading system and how we managed was an experiment, one that has proven to be unsustainable in these particular conditions. We have as of, 12 hours ago, the last form of market support was concluded, and it is now a completely free market just like any other cryptocoin with no direct involvement from our system. The price currently is almost entirely dictated by the prices that miners are able to sell at to sustain their profit currently.

Our intention is not to pump the price or to directly declare a price to hold, that was never the intent or the plan, it was to provide slowly moving, up or down, rates, that acceptable support. The intent was to always make a self-sustaining system that did not require direct manipulation or purchasing of the coins from the developers themselves. The entire amount of trading value, right now, is split into ~10% BTC and 90% AIRcoin that was purchased from the market to keep the price up. That BTC will remain on Poloniex and is not withdrawn, is not being used to pay the developers, and following the trend of the transparency release, we have used almost the entire investment pool to purchase AIRcoin, not to pay ourselves.

We have postponed DGW and the wallet update indefinitely. As a result of attempting to rush the development, we ran into numerous syncing bugs from the change to DGW and other tweaks into the code. This is the primary reason for the lack of communication: worry that we would not be able to solve the syncing issue in time. It wasn't up to our standards as compiled and it would have been a disservice to release it prematurely.

We're currently looking carefully x11, however it is still relatively new, and most of the problems it solves can also be solved on the market side, so it is definitely a long term option, but we are going to realistically compare it with Scrypt-N, Scrypt-Jane, or, other algorithms that have benefit to the use of their computing power beyond mining.

At all times, we reserve the right to keep our personal information protected, especially given the anonymous nature of online forums and the cryptocurrency community for our protection, that is why we have chosen to incorporate.

If you have purchased AIRcoin, knowing that this is a long-term investment, it is in your best interest to hold it. If your investment puts you at financial risk, and you are unable to have enough faith in our team to pull through and make results, then you are not invested in the project or the team, but in short-term profit, and there are many other coins for the purpose.

Because our team is going to focus its energy toward real world application, we will leave this thread for discussion, and will respond when necessary, but for direct questions and concerns, we will primarily work via email or through our website. Supporters are always welcome to discuss our plans and decisions personally with us as we develop them.

 - Alexander


EDIT:

To make sure our point is clear: this coin is not dead. We are still actively working full time on it, and it has only been in the market for one week. We are changing our objectives and methods, but that does not mean, in any way, that we are abandoning the coin. For a brief period, it will not be supported by our system, but that does not mean we are not going to implement a new system or that we have abandoned the investment system in any way.

Alexander, you should know as well as the rest of us... since your trading algo has failed, your premine that was meant to be used to support said algorithm... well now you just have a MASSIVE premine, up to 3 years worth of it or more.

Your coin has no advantage over any other, in fact it has the huge disadvantage of failure... AIR is well on the way to 1 satoshi now. sucks.

[andyatcrux]

Seems like they are putting too much concern into the fact that people were not taking a liking to the proposed ideas. Because they are now indefinitely scrapping them and it will be the very people who did not want X11 and an Altcoin Alliance that will be dumping first. Just sad. They should forge ahead. That way they least have a chance to hold some buy support from those who were open to the proposals. This just seems like a lose-lose situation. People were starting to panic but they just set of a full blown avalanche. Oh well. I will be holding for a while I guess. See what happens.

[flinchy]

Seems like they are putting too much concern into the fact that people were not taking a liking to the proposed ideas. Because they are now indefinitely scrapping them and it will be the very people who did not want X11 and an Altcoin Alliance that will be dumping first. Just sad. They should forge ahead. That way they least have a chance to hold some buy support from those who were open to the proposals. This just seems like a lose-lose situation. People were starting to panic but they just set of a full blown avalanche. Oh well. I will be holding for a while I guess. See what happens.

everything they set out to do failed... literally not one goal met, their trading algo failed, their target price was missed

i'll be lucky to get back electricity on this, because i trusted the devs and their fancy words lol.

it's funny, i thought the low hash rate would be a good thing, and an indication this coin wouldn't be totally dumped

how wrong can you get?

this coin woudl suck LESS if it had 10GH on launch -_-

[alexminer]

Team AIRcoin should have started their trading algorithm ONLY AFTER all early miners/nonbelievers and simply those who invested into their rigs dumped what they were going to dump or even better keep selling their AIR pool to invite dumping and getting BTC while at it. Another thing that seemed unreal is scalping. If everyone knows that coin moves up at ~5% pace then they would have just scalped to the point that there would be nothing left to developers (in this case Market Makers). I think it does
make sense to start supporting coin now. In fact I feel developers have made this announcement to speed up dumping, otherwise what does it mean that they are still supporting coin? As it stands now it makes sense to mine other coin (any alternative ), sell it for BTC and buy AIRs for cheap if one believes in these guys.
   I have to admit that I mine with my gaming rig (AMD R9 290) and never really cared about returning money that I paid for it through mining. In my mind to find best team behind a coin and
INVEST in it is more important then to buy 10 video cards and then try to make money back on those and then some, for that I have a day job. I have around 200 AIR and plan on adding more AIRcoins in future. But thats me, looks like I am in minority.

[andyatcrux]

You and me both.

[anonymousxx1503]

Team AIRcoin should have started their trading algorithm ONLY AFTER all early miners/nonbelievers and simply those who invested into their rigs dumped what they were going to dump or even better keep selling their AIR pool to invite dumping and getting BTC while at it. Another thing that seemed unreal is scalping. If everyone knows that coin moves up at ~5% pace then they would have just scalped to the point that there would be nothing left to developers (in this case Market Makers). I think it does
make sense to start supporting coin now. In fact I feel developers have made this announcement to speed up dumping, otherwise what does it mean that they are still supporting coin? As it stands now it makes sense to mine other coin (any alternative ), sell it for BTC and buy AIRs for cheap if one believes in these guys.
   I have to admit that I mine with my gaming rig (AMD R9 290) and never really cared about returning money that I paid for it through mining. In my mind to find best team behind a coin and
INVEST in it is more important then to buy 10 video cards and then try to make money back on those and then some, for that I have a day job. I have around 200 AIR and plan on adding more AIRcoins in future. But thats me, looks like I am in minority.

Of course you're the minority, you're a brand new account created by the devs. There's no fucking reason to buy this coin anymore or to trust the devs on ANY promise.

[gambitminer]

Team AIRcoin should have started their trading algorithm ONLY AFTER all early miners/nonbelievers and simply those who invested into their rigs dumped what they were going to dump or even better keep selling their AIR pool to invite dumping and getting BTC while at it. Another thing that seemed unreal is scalping. If everyone knows that coin moves up at ~5% pace then they would have just scalped to the point that there would be nothing left to developers (in this case Market Makers). I think it does
make sense to start supporting coin now. In fact I feel developers have made this announcement to speed up dumping, otherwise what does it mean that they are still supporting coin? As it stands now it makes sense to mine other coin (any alternative ), sell it for BTC and buy AIRs for cheap if one believes in these guys.
   I have to admit that I mine with my gaming rig (AMD R9 290) and never really cared about returning money that I paid for it through mining. In my mind to find best team behind a coin and
INVEST in it is more important then to buy 10 video cards and then try to make money back on those and then some, for that I have a day job. I have around 200 AIR and plan on adding more AIRcoins in future. But thats me, looks like I am in minority.

Of course you're the minority, you're a brand new account created by the devs. There's no fucking reason to buy this coin anymore or to trust the devs on ANY promise.

LOL

[andyatcrux]

The amount of rationalizing in this thread is hilariously pathetic. Comparing this coin to bitcoin is like comparing a faulty toyota camry to the first engine ever made.

These guys made claims of weekly 5 % rises and threw in economic buzz words so suddenly they are intelligent? The first post I made here was waiting for proof of identity not some fucking stupid picture of printed name on campus scenery. What are they scared of?

The fact that "University of Chicago" is one of the selling points of this coin is laughable in and of itself seeing as how these kids have refused to identify themselves.

People who put in substantial sums into this coin and lost 70% have EVERY FUCKING RIGHT to demand answers or leave and you cunts back patting the devs for their silence are just sticking your heads in the sand.

There is no trading algorithm neither is there any stabilization module. All that has happened is a coin was launched and is slowly biting the dust. Until the devs identify themselves and provide tangible proof of their claims, people will steer clear from this coin. So again, keep on with the dev fellatio.

I agree. these people (hughjays77 especially, but others) are like little NAZIs running around and policing dissent.

Saying "you are mad as hell and I don't blame you" is probably what the gestapo said as they dragged people to concentration camps. Just chill with the retoric. Every person you are accusing of being a "nazi" has acknowledged your concerns and I have not seen one person invalidate them. You seem to be the one using the "fuck you cunts" type of confrontational language that will really get you nowhere. "buzz words" and "anonymous" I get it and I DO NOT DISAGREE WITH the points that you are trying to make, but I am having to wade through a bunch of points that seem to be stuck on repeat. We hear you and despite the aggressive language you are using, I too do not hold it against you. You do have every right to be upset. But let's acknowledge that many of the current complaints about whether or not a trading algo exists or whether or not they should be anonymous were all factors that you had a chance to ponder BEFORE you invested. These are not new risk factors. I am interested in hearing what you have to say with regards to what improvements you would like to see. It seems the devs are in agreement that much has to be done to fix things, but I can see where people are going to inevitably disagree with how to get there. Since you do seem to have made some relevant observations, do yourself a service and don't let them get muddled up in-between lines of misdirected rage.

Can you read buddy? Honest to god, you are quoting the wrong people, you are jumping to erroneous conclusions and you are implying things that weren't implied.

With fans like you this coin needs no enemies.

Now leave me out of any future diatribes that you may have.

Can you read? Who am I misquoting? I hope you don't think that the first sentence that I put in quotations is quoting either of you listed above. I know exactly who I was quoting; hughjays77 from a previous post. I didn't think I needed to connect the dots for you to understand that. This is the second time I have tried to have a discussion and when I quote two entries as I did above, why do you presume that I only must address the person in the most recent post. The two of you (slyA and yourself) have been working in tandem and I was responding to you both. Are you the post etiquette "nazi?" Despite me making it very clear that I had some concerns you again choose to ignore this fact and call me a fanboy. You have plastered the last 10 pages of this thread with your concerns and have shot down anyone trying to talk to you. It seems you just wanted to use this time to scream and throw a temper tantrum. Sadly it seems like the devs actually listened to you and decided to pull the plug. I am not saying this is an unequivocal fact, I am simply saying that the deterioration of the discussion here may have made the most resolute devs say the hell with this. You have sucked all the "AIR" out of the room and I seriously hope the devs did not decide to nix the collaborative work thinking that they were going to please you. You can now meander to another coin to post one-sided diatribes that serve to no end but to create an atmosphere of fear. If you want to be left unquestioned then maybe you should stand in a room and talk to yourself in a mirror.

[Jesse Livermore]

Here is what is going on with the coin, which the developers have basically pointed out already: their buying and selling algorithm acts to jumps ahead of the prevailing market bid and ask, when spreads are large, in order to narrow the spread. Go ahead and place a sell order right now at .0009 and within 30 seconds an order to sell AIR will appear ahead of your order at .0008999. I suspect this the AIRteam's algo working to narrow the spread. This is not a bad thing necessarily, and is basically how you make the coin stable.
Unfortunately, in the event of no volume (like now) you have very large drops downward because there is no demand to buy the coin and I suspect the AIRcoin Team is preferring their algo jump ahead of the ask price versus bid price because they are currently AIR-heavy and would prefer to be BTC-heavy. That last part is speculation on my part of course, but I see the top buy orders are NOT being jumped ahead right now and that is why this coin is exhibiting this slow waterfall decline. The legitimate buy orders, coming from buyers other than the AIRcoin Team algo, are far below the market and are unfortunately leading the downward trend.
Perhaps if they had the volume in the coin, like they've said they need, they could have a fantastically narrow spread by taking the inside of the market, and could then consistently make a ton of profits while also having their BTC coffers grow. That in turn would allow them to grow the coin's value. But right now the demand-side is just not there and that is unfortunately (another) rookie mistake on their behalf. The first two weeks they were busy getting miners hyped up for the coin's concept and the third week they were busy getting their algo going on their first exchange. Luckily they do now realize they have a problem and need to do something about getting demand going.
I'm not going to speculate on if the recent solutions will solve the demand side issues, however I do see now that their algo can indeed narrow the spreads (when its jumping ahead of both the bid AND ask) and earn the coin good returns.
I think one wise thing to do immediately would be for the AIRCoin team to apologize for their rookie mistakes, and show appreciation of AIRCoin holders who have stuck through these mistakes, by buying the coin back up to .0002 (or potentially even just stating that they will buy the coin back up) and then prove that they can stabilize the price there. By now the pent-up sellers should be gone. What you see now are panicky AIRCoin holders growing scared and angry and jumping ship at horrible prices (and the algo, for whatever reason, is basically nonexistent on the buy-side).

Anyhow I'll continue watching.
JL

My apologies to the AIRCoin holders out there. Instead of the above message, here is the message I should have posted this morning:
"Over the past week, as part of due diligence efforts, I have been sending various AIRCoin buys and sells through Poloniex to try to get their algo to show itself. In a short time I discovered that it ingeniously works by front-running all buys and sells and keeps the spreads tight. However, recently I noticed the buy-side algo isn't showing up whilst the sell side is. I'm not sure what the dev's are doing but in my book that is a big caution flag.
I'll continue watching (from the bleachers)."

Anyhow, I don't think the dev's are pump-and-dumpers...if they were they would have taken my advice in an evil way and today said they will begin artificially propping up the coin at noon tomorrow with a goal of stabilizing at .0002 or higher. This simple announcement would have caused many to try to front-run the dev's waves of buys with their own buys and the price would have gone up (who knows how much) at which point the dev's would drop a tsunami of AIRCoin into the market and squash the price to where it's at now.
No, I think they are simply inexperienced in dealing with problems, inexperienced in having a spotlight on them and in waaay over their heads.
For now my attention is going back to DarkCoin. Good day.

JL
 

[kikeda]

You and me both.

+ me 

[Sprite160]

AIRcoin now number 57 on marketcap

[scottlilo]

Lol it's like the titanic capsizing only this titanic was a canoe with polished wood.

Air coin just hindenberged. It was a fun suspensful ride. I have nothing left to add as I have been vindicated. Scollito I think the dick sucking is quite enough now. Some poor sap lost 100% of his coin value. I managed to eject with a 25 percent loss.

Take responsibility for your own fucking trades. Are you twelve years old  ?

Does directing your blame towards me somehow help you cope with your loss?

Don't gamble with money you can't afford to lose.

 I was merely expressing my opinion, if you don't want to read it, then Shut the fuck up.

I'm sitting blindly behind my computer too. You think I'm happy how this turnt out ?

You sound ignorant and naïve.

[username here]

Lost 3 BTC, my wife is going to kill my ass.

[Sprite160]

I am getting pretty tired of sitting at my computer watching this fuckstorm happen. It is getting old. Maybe when the devs are done with the weekend partying, they will look at the chaos created by their last statements, and try to un-fuck this mess. Good Luck with that one. On the other hand, there is lots of cheap AIR available now. Hmmm.. maybe a stealth dump,or a failure of the trading mechanism, to get the price down. Since the devs are "not" taking the pre-mine for themselves; a significant price drop, (this is the point that they make a personal investment) followed by some "miraculous" news, and BAM, price shoots up, and the devs make bank. Let's see what happens, shall we.

[tx42]

I am getting pretty tired of sitting at my computer watching this fuckstorm happen. It is getting old. Maybe when the devs are done with the weekend partying, they will look at the chaos created by their last statements, and try to un-fuck this mess. Good Luck with that one. On the other hand, there is lots of cheap AIR available now. Hmmm.. maybe a stealth dump,or a failure of the trading mechanism, to get the price down. Since the devs are "not" taking the pre-mine for themselves; a significant price drop, (this is the point that they make a personal investment) followed by some "miraculous" news, and BAM, price shoots up, and the devs make bank. Let's see what happens, shall we.

Did you miss the post where, instead of un-fucking the mess, the devs super-fucked the mess?

https://bitcointalk.org/index.php?topic=476383.msg5865970#msg5865970

[Sprite160]

I am getting pretty tired of sitting at my computer watching this fuckstorm happen. It is getting old. Maybe when the devs are done with the weekend partying, they will look at the chaos created by their last statements, and try to un-fuck this mess. Good Luck with that one. On the other hand, there is lots of cheap AIR available now. Hmmm.. maybe a stealth dump,or a failure of the trading mechanism, to get the price down. Since the devs are "not" taking the pre-mine for themselves; a significant price drop, (this is the point that they make a personal investment) followed by some "miraculous" news, and BAM, price shoots up, and the devs make bank. Let's see what happens, shall we.

Did you miss the post where, instead of un-fucking the mess, the devs super-fucked the mess?

https://bitcointalk.org/index.php?topic=476383.msg5865970#msg5865970

Yeah, I saw that. I was thinking that maybe that was written during some weekend college party drunken state of mind. Seems like the only rational explanation.

[alexminer]

I am not a developer, I am just looking at all those crapcoins in crypto universe and I simply am one step away to erase all this crap from my PC and forget about it altogether. I just switched back to DOGE btw (not that I like it). On the other hand I am looking at a few other coins and TBH I can't seem to stop at any of them. I am very sad for developers as they invested a lot of their TIME into this. All I lost
was ~200 USD (I bought in at around 0,02). So in your world I am a bagholder. What I can tell you
is neither BTC nor LTC will come on the top when things are settled in cryptoworld. Once real sharks dive into this cryptocoin world they are capable of creating/supporting a coin (or whatever it will be called) and killing BTC and LTC easily. So yes I am in agreement on this with AIR developers.
Think about this, BTC is like safe heaven now(sort of like reserve cryptocoin), but we are talking here about creation of new money system and that is HUGE. Team that is knowledgeable enough to create business plan of how to create new form of money and implement it in real world will win. If these guys are indeed from where they say they are, I feel they have a better chance to be heard where it counts. Once new superior coin created (and supported by sharks) it will take the mantra of "reserve" cryptocurrency in a very short order, and BTC/LTC will be falling harder then you think. As it stands now I feel BTC's 10min confirmation time is absolutely ridiculous. Imagine going to Statbucks paying with BTC and wait for your coffee for 10mins (best case scenario). LTC is a bit better in this regard but 2 mins is not short enough either as I see it. So even looking from these trivial real world scenarios both BTC/LTC are not good cryptmoney forms. the search for new form of money is ON.