[ANN] AIRcoin

[romang]

Junk coin. Hopefully knc will take care of this.

[hughjays77]

+1 again. I will continue to hold my 1000AIR as Im pretty sure they can now actually provide some support without even having to talk about it

 

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
 

[Ammon]

Junk coin. Hopefully knc will take care of this.

knc?

[anonymousxx1503]

Either someone is retarded and bought up all that aircoin just now or the devs are even more retarded and are now using all their btc to buy air as a desperate last measure.

[adhitthana]

Either someone is retarded and bought up all that aircoin just now or the devs are even more retarded and are now using all their btc to buy air as a desperate last measure.

I can't believe that just happened.
I gotta say after watching this all from early on, I feel for those who bought this coin only to watch it unravel the way it did. particularly as IIRC the people from Teamair were encouraging people to buy and hold around the .002 level.

[flinchy]

Either someone is retarded and bought up all that aircoin just now or the devs are even more retarded and are now using all their btc to buy air as a desperate last measure.

I can't believe that just happened.
I gotta say after watching this all from early on, I feel for those who bought this coin only to watch it unravel the way it did. particularly as IIRC the people from Teamair were encouraging people to buy and hold around the .002 level.

what happened?

it's the same price as when i last checked haha

[adhitthana]

Since we have invested heavily in hiring traders and equipment to maintain the exchange rate,

Just what does "heavily invested" mean?
They hired traders?  Have they now been fired?

[albertdros]

Since we have invested heavily in hiring traders and equipment to maintain the exchange rate,

Just what does "heavily invested" mean?
They hired traders?  Have they now been fired?

wow great exchange rate Wake up to see that i bought 1k air at .0002. LOL

[luke997]

Such a good feeling having left at 0.002-0.0018 and got all into Darkcoin.

Usually it's most difficult to change mind and leave, but if you want to make money in this game, you have to differentiate between serious coins and the rest - regardless whethere these are just clones or experiments bound to fail.

[orpington]

Definitely seemed like a pipe dream i.e. it was.

[adhitthana]

Since we have invested heavily in hiring traders and equipment to maintain the exchange rate,

Just what does "heavily invested" mean?
They hired traders?  Have they now been fired?

wow great exchange rate Wake up to see that i bought 1k air at .0002. LOL

Yep...I bought about the same amount, just above. Then sold most as the price shot up to 5 times that. But this time I don't feel so good, after seeing what has gone on with this coin.

[CryptoKiller]

on the plus side theres now 6btc worth of buys.

[JTB800]

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.

Look, I don't want to fight over this debacle. If you look carefully at my posts you'll see that I was a buyer -- not a miner-- but an actual buyer. I believed (and still do) that this idea, and others similar to it can work fine.

But, you will also see from my posts that I bought my AIR coins mere hours before their "big announcement" of a couple of days ago. It was a disappointing development to say the least.

It was an amateur move in so many ways that it was difficult to count them all. Bragging about where they come from and that they were "connected" were just two examples.

Then, this "big announcement" was followed by silence despite the fact that they specifically ended it with pleas for questions  that would be addressed "promptly and plainly". As I was pointing out all of the red flags I was being denounced and even told to leave the forum by one poster. That "big announcement" is what killed this coin, not anyone's questions or concerns after it. 

Of course, I turned out to be right on all of my warnings. But even now you accuse me of creating an "atmosphere of fear" -- whatever the hell that means.

You will be happy to know that I still own my coins and did not dump immediately after the "big announcement" as I should have. Naively, I thought that they would attempt to answer some of the questions that arose from them asking for questions. So, while I didn't put a lot of money into that initial buy, I am still a bag holder like everyone else.

Finally, I said from the beginning (you can look it up) that they should have let the miners dump first before putting the program into place. Trying to stabilize a coin with few buyers is impossible no matter what "algorithm" is put in place. Miners are like parasites sucking the host dry of all nutrients. Yes, there can emerge a symbiotic relationship with the big miners "allowing" a coin to survive for a while as they manipulate it up and down for their maximum gain, but that is all a big game.

The shame of it is all of this could have been avoided. They seemed to have put a lot of thought into their plan prior to opening, but could just not stand the heat of reality once launched. I guess that they really thought that they could talk all of the miners (or enough of them) into holding their coins.

Now they are refusing any questions except privately and they sound like every other stupid coin out there with "media" talk and "wallets" and "working" toward so-called real world uses for the coin, etc., etc.

Oh well, as I am now officially a bag holder of one of the lucky miners that got out, I guess I'll just stay in and see what happens from here.

[andyatcrux]

All very good points. I mined and invested and still hold. It has been a disappointment today to say the least. I am sorry if I over-extended myself in an attempt to distill things into a neat little package. I can see how it is unfair to say you were fear mongering. I guess it just seemed like people may have been unintentionally pouring fuel on the fire. I guess I got pretty swept up myself, so if I was compelled to do damage control than I have to accept that there are some serious problems. I only hope that this can be salvaged with encouragement to the devs to do the right thing moving forward. Whatever that may entail.

[coinme.info]

I've been mining an X11 coin to see how my rigs handle it since the AIRcoin devs talked about possibly implementing X11 into AIRcoin.

Results so far are good. 2.01Mhs for a R9280x and only using 50% of the power as scrypt and scrypt-n.

Cards are running between 50-65 degrees.

This reddit post backs up my experience as well.

http://www.reddit.com/r/Hirocoin/comments/215lkd/changing_landscape_for_scrypt/

X11 could be a good move for AIRcoin if they can make it work.

[luke997]

I've been mining an X11 coin to see how my rigs handle it since the AIRcoin devs talked about possibly implementing X11 into AIRcoin.

Results so far are good. 2.01Mhs for a R9280x and only using 50% of the power as scrypt and scrypt-n.

Cards are running between 50-65 degrees.

This reddit post backs up my experience as well.

http://www.reddit.com/r/Hirocoin/comments/215lkd/changing_landscape_for_scrypt/

X11 could be a good move for AIRcoin if they can make it work.

You can get easily 2.15-2.25 (2.3 if you have good card) per 280X with the 4.1.0

I got my setting at Darkcoin thread (obviously) as that's were the X11 originates.

2.15 - I 13, w 256, g 2, 8192 threads, clocks 1050/1500 (lowest reject rate for me)
2.25 - I 13, w 256, g 2, 8192 threads, clocks 1120/1500 (a bit more rejects)
2.3 - I 18, w 256, g 1, lookup-gap 2 8192 threads, clocks 1150/1500 (crashes sometimes, but works on strong cards)

[coinme.info]

I've been mining an X11 coin to see how my rigs handle it since the AIRcoin devs talked about possibly implementing X11 into AIRcoin.

Results so far are good. 2.01Mhs for a R9280x and only using 50% of the power as scrypt and scrypt-n.

Cards are running between 50-65 degrees.

This reddit post backs up my experience as well.

http://www.reddit.com/r/Hirocoin/comments/215lkd/changing_landscape_for_scrypt/

X11 could be a good move for AIRcoin if they can make it work.

You can get easily 2.15-2.25 (2.3 if you have good card) per 280X with the 4.1.0

I got my setting at Darkcoin thread (obviously) as that's were the X11 originates.

2.15 - I 13, w 256, g 2, 8192 threads, clocks 1050/1500 (lowest reject rate for me)
2.25 - I 13, w 256, g 2, 8192 threads, clocks 1120/1500 (a bit more rejects)
2.3 - I 18, w 256, g 1, lookup-gap 2 8192 threads, clocks 1150/1500 (crashes sometimes, but works on strong cards)

Thanks for those settings.

Managed to get 2.06Mhs for now so an improvement already.

[luke997]

I've been mining an X11 coin to see how my rigs handle it since the AIRcoin devs talked about possibly implementing X11 into AIRcoin.

Results so far are good. 2.01Mhs for a R9280x and only using 50% of the power as scrypt and scrypt-n.

Cards are running between 50-65 degrees.

This reddit post backs up my experience as well.

http://www.reddit.com/r/Hirocoin/comments/215lkd/changing_landscape_for_scrypt/

X11 could be a good move for AIRcoin if they can make it work.

You can get easily 2.15-2.25 (2.3 if you have good card) per 280X with the 4.1.0

I got my setting at Darkcoin thread (obviously) as that's were the X11 originates.

2.15 - I 13, w 256, g 2, 8192 threads, clocks 1050/1500 (lowest reject rate for me)
2.25 - I 13, w 256, g 2, 8192 threads, clocks 1120/1500 (a bit more rejects)
2.3 - I 18, w 256, g 1, lookup-gap 2 8192 threads, clocks 1150/1500 (crashes sometimes, but works on strong cards)

Thanks for those settings.

Managed to get 2.06Mhs for now so an improvement already.

You can play with the core speed, I found quite a linear improvement in just core clock increase, leaving memory the same. Seems with X11 there are no more "sweet spots", relying heavily on very specific ratios, so much easier to set up.
Also try memory 1600 if your cards can handle it (seperately from other changes).

[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 for a new plan Aircoin team, it's never too late do some CPR on aircoin.

[dragonseer]

I bought early on, and spent around .25 btc just over 100 Aircoins or so. I don't really care what the price is now. I don't know how many other people are sorting these Altcoins into categories, but I am. One category might be, altcoins that are significant because of tech, so, that could be NXT and Darkcoin. Another might be, altcoins that are significant because of the community, like Dogecoin. The category this coin falls into, is an altcoin managed by business smarts, Aircoin and Maxcoin are the only altcoins I know of that qualify. I'm willing to wait and check back what the price is like a month from now, I'm not about to freak out because the asking price dropped for a few days or whatever