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FrictionlessCoin
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March 04, 2014, 10:46:31 PM
 #281

Cryptsy waiting to get in on the action Wink.

yikes... please no.... I still need to acquire more coins.


      
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March 04, 2014, 10:49:59 PM
 #282

So what you think MAZACOIN will go up to? Should we buy more coins now of MAZA and hold for the Cryptsy peeps? Won't the price go down on Cryptsy because of the dumping there or not? Smiley
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March 04, 2014, 10:50:40 PM
 #283

Word on the street is WSJ is doing an article on MZC this week. Between that and adding the coin to cryptsy this week - I see a moon landing in sight!!
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March 04, 2014, 10:56:45 PM
 #284

Cryptsy will actually make this coin go through the roof. There is limited supply and huge demand and look what this coin has done on one crappy exchange and Mintpal- a relatively newer exchange. Exciting future for this alt-coin without a doubt Smiley.
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March 04, 2014, 10:58:27 PM
 #285

MINTPAL ONLINE
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March 04, 2014, 10:58:33 PM
 #286

So why exactly is mazacoin welcoming asic's with sha256? Wouldn't going with something more asic resistent, like scrypt-adaptive N or scrypt-jane, make more sense since that will help decentralized and better secure the network. As it stands now, mazacoin is exposed to the same risk as bitcoin, namely where there's a concentration of hashing power to a few entities increasing the risk for a 51%.
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March 04, 2014, 11:00:58 PM
 #287

Cryptsy will actually make this coin go through the roof. There is limited supply and huge demand and look what this coin has done on one crappy exchange and Mintpal- a relatively newer exchange. Exciting future for this alt-coin without a doubt Smiley.

I agree with you on that - I have a few friends that don't trust these 3rd tier exchanges and are waiting for the coin to hit cryptsy. I myself didn't really feel comfortable sending coins to mintpal.com but I sent a small % just to test it out... I got more money at cryptsy waiting for the coin to show up
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March 04, 2014, 11:06:00 PM
 #288

Count your blessings, I went from almost getting 30% gain to 20% loss because of the fucking lag.

A small anecdote to do with the 'other side' of the lag.

Last night I was looking at Mazcoin - checked the forums, price history, all that. I noticed that it had already been pumped and come back down. That always makes me wary.

Sent 0.6 BTC up to a Cryptorush deposit address, but it was taking forever and a day to appear. I wasn't worried because I monitored it on blockexplorer and could see it was just waiting for confirmations.

Eventually I gave up and sent 22 LTC instead - which took about 3 minutes to appear !!

Then, upon checking the LTC market, I noticed that all the sells were sitting at 0.00079 (LTC) except for 1 SELL which was was a massive 134,000 MZC sitting there at a price of 0.00024 ! - a third of the market price. Instead of just buying it, I sat with a calculator for about 10 minutes because I didn't think it could be right. In the end I bought 108,000 of them and immediately offloaded half when the price doubled - which at that time netted me about half a bitcoin.

If I had kept those in it would have netted about 7 Bitcoins at today's prices, but then I would have had to break my rule of always recouping my investment at the earliest opportunity for loss mitigation.

That's the "wild west" of Cryptocurrencies for you. For every bit of luck like that, I've had about 5 fails - ike buying Mooncoin at 18 Satoshis, watching it go to 36 and then holding all the way down to 8 because I just couldn't beleive it wasn't going to go back up.

With 20/20 hindsight we'd all be millionaires 20 times over, but that's the fun of it - just don't bet your house !!

Yup, its really stressfull.  I was with auroracoin from day one and knew it was going to be a big.  But I was day trading everything I had with it, and the night before it blew up I had sold everything and put in a buy order that no one picked up while I was asleep.  So I got left in the dust as it saw 50x gains.  Missing out on thousands of dollars is almost worse than losing everything you have.

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March 04, 2014, 11:25:43 PM
 #289

So I got left in the dust as it saw 50x gains.  Missing out on thousands of dollars is almost worse than losing everything you have

That's incorrect thinking. You need to straighten out your crypto-trading strategies and priorities. If you continue to think like that, not only will you not make gains, you'll make huge losses.

The goal is:

a) - always take calculated risks. i.e. know what the maximum is you can loose and be prepared to loose it

b) - lock in at least your initial investment before it's too late

c) - remain focused on making large long term gains or small short term ones but always trade within a long term strategy (i.e. if you are bullish long term, then your objective is to maximise the alt coin. If you are bearish, then your objective is to maximise Bitcoin so 'park' your funds in Bitcoin between trades)

I had the complete opposite experience to you. Parked my funds in the alt-coin overnight during a pump without locking **anything** in and woke up to find I'd gone from a 50% gain to a 25$ loss.

If you happen to stumble on a bonanza by accident - all well and good, but don't plan on it (except long term as we all are doing with Bitcoin).

So switch your thinking around because you played your trades by the book by locking in your initial gain. Forget about the bonanza and take pleasure in the fact that you stayed in control - that's far more important than catching a random pump while you were asleep  Wink
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March 05, 2014, 12:01:38 AM
 #290

So I got left in the dust as it saw 50x gains.  Missing out on thousands of dollars is almost worse than losing everything you have

That's incorrect thinking. You need to straighten out your crypto-trading strategies and priorities. If you continue to think like that, not only will you not make gains, you'll make huge losses.

The goal is:

a) - always take calculated risks. i.e. know what the maximum is you can loose and be prepared to loose it

b) - lock in at least your initial investment before it's too late

c) - remain focused on making large long term gains or small short term ones but always trade within a long term strategy (i.e. if you are bullish long term, then your objective is to maximise the alt coin. If you are bearish, then your objective is to maximise Bitcoin so 'park' your funds in Bitcoin between trades)

I had the complete opposite experience to you. Parked my funds in the alt-coin overnight during a pump without locking **anything** in and woke up to find I'd gone from a 50% gain to a 25$ loss.

If you happen to stumble on a bonanza by accident - all well and good, but don't plan on it (except long term as we all are doing with Bitcoin).

So switch your thinking around because you played your trades by the book by locking in your initial gain. Forget about the bonanza and take pleasure in the fact that you stayed in control - that's far more important than catching a random pump while you were asleep  Wink

If you can believe it, I normally do incorporate similar strategies in my trading.  But looking at the mining difficulty and rising hype and disappearing sell orders I knew with a very high degree of certainty that aurora was going to rise shortly so I decided to go all in for a short period of time, which might've been the first time I've ever done that.  I feel similarly about maza but not to the same degree, so I have most but not all of my wealth in it for at least the short term.

What's crazy is I found some leftover aurora "dust" I had mined on a couple pools which I turned in to almost .1 BTC.

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March 05, 2014, 12:09:25 AM
 #291

Mazacoin p2pool just launched at TreasureQuarry!

Please come help test it out at http://mazacoin.treasurequarry.com:14477

There's no need to "sign up" as it's p2pool so your earnings will go straight to your wallet without the risks of anything being stored on the server.

Just use a Mazacoin address from your wallet as your username and anything as your password.

For example with bfgminer:

bfgminer  -o  http://mazacoin.treasurequarry.com:14477 -u YOURMAZACOINADDRESSHERE -p x

Happy mining!


Been mining over a couple hours and no results. Don't see my wallet address on the pool site graph either.
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March 05, 2014, 12:13:34 AM
 #292

so I have most but not all of my wealth in it for at least the short term

Well, you're not at immediate risk of loosing it I don't think. I just have haunting nightmares about mooncoin and don't think I have the bottle to entrust my entire holdings to a single alt-coin pump.

Believe it or not, one of the reasons I didn't panic buy AUR is that - incredibly - I happen to have 3 immediate family members who wouldn't know a cryptocurrency from a rice crispy but who are fully fledged, passport holding Icelandic citizens ! I myself am not one - I'm Scottish - but I do speak the language and have a national ID number. So an enforced visit to the embassy to pick up an "IsLykill" for the lot of them is in the offing I think when the airdrop happens. I'm sure by that time it will have been comprehensively dumped by the rest of the world, but I still think the idea is totally amazing as a political gesture of popular power.



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March 05, 2014, 12:34:22 AM
 #293

So why exactly is mazacoin welcoming asic's with sha256? Wouldn't going with something more asic resistent, like scrypt-adaptive N or scrypt-jane, make more sense since that will help decentralized and better secure the network. As it stands now, mazacoin is exposed to the same risk as bitcoin, namely where there's a concentration of hashing power to a few entities increasing the risk for a 51%.

If I recall, the guy who had this idea for MazaCoin wanted to acquire an ASIC miner and was soliciting donations for one.   He had this idea that people of his tribe would learn how to mine coins.





      
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dailyarsenal
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March 05, 2014, 12:35:22 AM
 #294

Let's get Maza on Cryptsy and the other reputable exchange sites.

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March 05, 2014, 12:37:31 AM
 #295

So what you think MAZACOIN will go up to? Should we buy more coins now of MAZA and hold for the Cryptsy peeps? Won't the price go down on Cryptsy because of the dumping there or not? Smiley

How would they dump if they don't already have the coin?

Typically when you get into a new exchange that has higher liquidity,  the price goes up momentarily.


      
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March 05, 2014, 01:03:25 AM
 #296

Who said that Cryptsy will take it up? I hope these are not just rumors.
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March 05, 2014, 01:06:37 AM
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I'm in, hope it's not too late :/ Let's hold !  Smiley
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March 05, 2014, 01:06:49 AM
 #298

i'm sure with it's recent increase in value they will have it on their site in no time at all. This is just speculation from me as I have not really followed any cryptsy news lately.

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March 05, 2014, 01:07:43 AM
 #299

I'm in, hope it's not too late :/ Let's hold !  Smiley

I think this coin has a very good chance to reach the moon. Grin

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March 05, 2014, 01:07:47 AM
 #300

Amazing to see a trade volume of over 1000 BTC at mintpal.

24 Hour Volume:
1082.596 BTC
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