[ANN][ISR] Isracoin - The Israeli cryptocurrency

[pandor]

Well i'm gonna keep on mining it for a couple more weeks and hope the price improves. I've noticed the Network hash rate has improved quite significantly.

I generally like this coin. It does seem like the developers are trying their best to make this a serious currency rather than some of the other currencies.

I wish there was some way to stabilize the value of Isracoin. I know with market prices this is very hard to control. Perhaps there is a way to value Isr like how the Chinese value the Remembi. Again its not like there is an ISR central bank. Or its not like you can value against a basket of crypto currencies.

Anyways those are my silly idea.  

We are actually working on something to the effect you mentioned.
Hoping to announce it for beta very soon.
We feel stabilization is very important and want to help our miners fight against the would-be pumpers and dumpers and other manipulators.

As always, when we have something tangible to announce, you can count on it happening.

The answer you gave regarding the ALGO change and also regarding the groestl algo was good  - you even asked here if some people have experience with it and can share it with you.

See one is looking for 999999 lines explanations ... such answers are enough and respect the community

anyway... you have already seen that I'm not the only person who asks about the marketing :

Any comment regarding how you see this coin's marketing ? is going by your plan and showing progress is enough ? or do you plan to push more for marketing ?

BTW - we do not ask you such question just to troll you . there is a difference between ignoring the community and just saying stuff like "it is not in our plans" or "right now we are busy with very important things , but we aim to invest our energy towards marketing very soon"  "no we like our logo as it is" "yes we will make bounties for a more professional design, after we finish up things with X Y Z"

That's what people expect to hear.. no one asks for super detailed explanations... really we ask such question with good intentions and not in order to disrupt you- I still put about 5.5 mega hash(my entire rig is about 15 btw) to mine isracoin even though the price is low - I can just mine another coin and buy isracoin cheap... I just do it because i feel that its a way to support the coin. just like a lot of doge coin miners are mining it even when the difficulty level is high and not profitable to mine.

[voluntarist500]

what's the blockreward-decrease? 50 per minute forever or what?

thanks for a short answer

[DearPassin46]

I don't see a dumping of the coin.  Very few sales in the last few days.  

I'm pretty sure you have a crystal globe that tells you when the dumping will begin .

Usually people wait for a calm day with no trades and buys support walls to both shake the market and not lose that much by dumping

the volume is low = no dump

man, do u consider the price？not only volume

[Litesire]

Guys country coins are so last month, color coins are the in thing now. Seriously people keep up with the times.

Jokes aside there is one country coin that seems to be the real deal but waiting to see if they get another big merchant before I invest.

[tmpwhore]

Don't worry guys it will stabilize eventually. In fact it was hovering around the 11000 mark for a long time. Whenever you have a giveaway there is bound to be dumping. EVERY giveaway that a coin has gone through tanks the price from dumpers. Look at spaincoin. It sank faster than the Spanish Armada after the airdrop. It turned into a real life simulation of the Spanish economy. Now it's clawing its way back up again. Israelcoin didn't drop half as much as Spaincoin because the developers A. use their real names and are actually from Israel B. Have a solid action plan on implimenting it into the Israeli economy. C. The mining is fairly hard with limited payouts which proclude dumping. My suggestion would be to add proof of stake which encourages people to hold onto coins to earn interest on them. It can even be crappy interest like 2-5% but it's enough so that people will want to keep and buy these coins. Look at Zimstake which is basically another "fun" coin but with proof of stake only. It's sitting around the 5000 mark even with desperate attempts by people to drive the price down to buy it up. Why? Because there is a reward for holding onto it. There's little incentive to sell it because yeah you'll get bitcoin right away but you won't be making interest anymore so it's pointless to sell unless the coin is worth a crazy amount of bitcoin.

In fact with all the data out there I'm not sure why coins haven't learned their lesson yet about airdrops and proof of stake it's pretty basic economics. If there are more of something the price is cheaper. If there is no incentive to hold onto something people get rid of it while it's still worth something. The israelcoin developers have a month before the next airdrop, if it was me I would IMMEDIATELY work on a proof of stake system say along the lines of zimstake which is %12.5 per anum, with a 2 week minimum age. Immediately the price will go up as the more you have the more you earn. Vendors will want to hold their coins because now they are earning interest on it even if it's only %1.25 per month/%12.5 per year which is better than any bank will give you.

[sejwan]

Hello Everyone, I'm still holding all my coin not planning on selling I'm in for the ride and it will be a fun one. Have a Happy Shabbos. Oh yeah I like the logo the way it is.

[voluntarist500]

i don't know blockrewarddecrease so i can not invest, sorry

[*Sakura*]

Don't worry guys it will stabilize eventually. In fact it was hovering around the 11000 mark for a long time. Whenever you have a giveaway there is bound to be dumping. EVERY giveaway that a coin has gone through tanks the price from dumpers. Look at spaincoin. It sank faster than the Spanish Armada after the airdrop. It turned into a real life simulation of the Spanish economy. Now it's clawing its way back up again. Israelcoin didn't drop half as much as Spaincoin because the developers A. use their real names and are actually from Israel B. Have a solid action plan on implimenting it into the Israeli economy. C. The mining is fairly hard with limited payouts which proclude dumping. My suggestion would be to add proof of stake which encourages people to hold onto coins to earn interest on them. It can even be crappy interest like 2-5% but it's enough so that people will want to keep and buy these coins. Look at Zimstake which is basically another "fun" coin but with proof of stake only. It's sitting around the 5000 mark even with desperate attempts by people to drive the price down to buy it up. Why? Because there is a reward for holding onto it. There's little incentive to sell it because yeah you'll get bitcoin right away but you won't be making interest anymore so it's pointless to sell unless the coin is worth a crazy amount of bitcoin.

In fact with all the data out there I'm not sure why coins haven't learned their lesson yet about airdrops and proof of stake it's pretty basic economics. If there are more of something the price is cheaper. If there is no incentive to hold onto something people get rid of it while it's still worth something. The israelcoin developers have a month before the next airdrop, if it was me I would IMMEDIATELY work on a proof of stake system say along the lines of zimstake which is %12.5 per anum, with a 2 week minimum age. Immediately the price will go up as the more you have the more you earn. Vendors will want to hold their coins because now they are earning interest on it even if it's only %1.25 per month/%12.5 per year which is better than any bank will give you.

+100500 for PoS mode. Pure PoS is better.

[crackfoo]

Come get your ISR!



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[vindyne8]

Just wanted to give a shout out to http://fastminer.cloudapp.net/index.php

They had a few issues with orphan blocks, and made it right by reimbursing some ISR to those affected. They also do a 1% block finder bonus, and a 25 ISR giveaway each Friday. Props.

I am always happy to promote positive things such as this. If you have a similar story about dealings within the ISR community, please share it. Do good, pay it forward.

[tmpwhore]

Look they can keep their current POW system that's fine. It's hard and you don't get much, but add POS as I said in a previous post so you'll want to keep what you mine. As it is right now I'm using Israelcoin as a "super dogecoin" to mine then dump so I can buy other currencies. If I'm doing it, chances are some other people are doing it too. I was lucky and sold my israelcoin at 42000 sats. ages ago. Now it's at the level of mine and dump. However if I was going to get some staking on what I was mining and people who couldn't mine had to buy and drive the price up...

[bp99]

A coin for every Country..

Probably for every city later

[tmpwhore]

Look they can keep their current POW system that's fine. It's hard and you don't get much, but add POS as I said in a previous post so you'll want to keep what you mine. As it is right now I'm using Israelcoin as a "super dogecoin" to mine then dump so I can buy other currencies. If I'm doing it, chances are some other people are doing it too. I was lucky and sold my israelcoin at 42000 sats. ages ago. Now it's at the level of mine and dump. However if I was going to get some staking on what I was mining and people who couldn't mine had to buy and drive the price up...

Also if they want vendors and customers to use this as a means of buying and selling they need an Android and a Mac app NOW. Get it ready so that when the vendors and customers come together they can actually buy shit instead of sending the coin...waiting for it to arrive...ship out the crap...wait days to receive your crap. You should be able to go buy an icecream with this coin while strolling around Tel Aviv.

[pandor]

Look they can keep their current POW system that's fine. It's hard and you don't get much, but add POS as I said in a previous post so you'll want to keep what you mine. As it is right now I'm using Israelcoin as a "super dogecoin" to mine then dump so I can buy other currencies. If I'm doing it, chances are some other people are doing it too. I was lucky and sold my israelcoin at 42000 sats. ages ago. Now it's at the level of mine and dump. However if I was going to get some staking on what I was mining and people who couldn't mine had to buy and drive the price up...

Also if they want vendors and customers to use this as a means of buying and selling they need an Android and a Mac app NOW. Get it ready so that when the vendors and customers come together they can actually buy shit instead of sending the coin...waiting for it to arrive...ship out the crap...wait days to receive your crap. You should be able to go buy an icecream with this coin while strolling around Tel Aviv.

Icecream! and only icecream !

They need to convince mcdolands in Israel to accept Isracoin - With the current price of 100 Isracoins - people could only buy super cheap icecream once they get their civilian air drop

At least we will not have to worry about civilians dumping their coins after air drops (like with auroracoin) - I can't see people running to "cash in" $2.5  Cheesy  ... or even running to get 100 Isracoins

But if the price of 100isr will rise to $2.9 (about 10 Israeli sekels) it will allow people to buy the smallest cheapest burger in mcdolands.

The Isracoin team should channel all their energy convince mcdolands to accept Isracoin.

Qucikly... before someone will come up with "The New Isracoin Coin" and get accepted by mcdolands before Isracoin.

AND YES IT IS A JOKE AND NOT A TRY TO LOWER THE PRICE - And at the same time , as  some people say - there is a truth behind every joke

I do believe it will go up and in the meanwhile there is no harm in joking around here and there ( I haven't stopped mining this coin... YET)

[matoy]

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[niothor]

A coin for every Country..

Probably for every city later

We have new york city coin so , we're already there.

[IsraelCoin]

Look they can keep their current POW system that's fine. It's hard and you don't get much, but add POS as I said in a previous post so you'll want to keep what you mine. As it is right now I'm using Israelcoin as a "super dogecoin" to mine then dump so I can buy other currencies. If I'm doing it, chances are some other people are doing it too. I was lucky and sold my israelcoin at 42000 sats. ages ago. Now it's at the level of mine and dump. However if I was going to get some staking on what I was mining and people who couldn't mine had to buy and drive the price up...

Also if they want vendors and customers to use this as a means of buying and selling they need an Android and a Mac app NOW. Get it ready so that when the vendors and customers come together they can actually buy shit instead of sending the coin...waiting for it to arrive...ship out the crap...wait days to receive your crap. You should be able to go buy an icecream with this coin while strolling around Tel Aviv.

FYI - Android wallet as well as a iphone-compatible web wallet have been released a while ago.
Android can be found in Google Play store
web wallet suitable for iphone can be found at https://isrwallet.info

(This has been in the OP for a while now)

[N1ghtcrawl3r]

So what businesses accept Isracoin? What can i actually purchase with ISR?

I hope cryptsy adds ISR soon! Bittrex only shows the last 20 trades for market history. It also does not list the total coins traded in the last 24 hours per exchange. I have been watching it quite regularly and i have seen multiple 10000 isr coin sales, then they are usually followed by 10 or more 1 ISR coin sales. I like using Bittrex but it does have short comings.

[elizabeth00]

Isracoin was added to CryptoTop!!!

BTC: 13MVMftimCmpQEsryo47pTs97ubmwkT31Y
LTC: Lh9ChfS1X3YWXmapr66nQjj3qZmys3qkNw
DOGE: DJMxzVrURhmsWFZHCjK5kDVHEqP5FcfGvy

[pandor]

So what businesses accept Isracoin? What can i actually purchase with ISR?

I hope cryptsy adds ISR soon! Bittrex only shows the last 20 trades for market history. It also does not list the total coins traded in the last 24 hours per exchange. I have been watching it quite regularly and i have seen multiple 10000 isr coin sales, then they are usually followed by 10 or more 1 ISR coin sales. I like using Bittrex but it does have short comings.

Hey there

As for cryptsy... it will not be a good idea to get added to crypsty right now and the coin will not get added unless someone will pay them to do so.

Due to lack of marketing , the coin really has few votes - you can look at a coin like "coino" (just an example) that has way more votes than ISR and is waiting in the votes sections for months now.

With coins that have almost zero marketing and a small fan base its almost impossible to get added to cryptsy without paying them.

In this situation its better not to get added to crypsty without a strong fan base - as being added to crypsty right now will make the price go up a little bit and than boom go down , like with every small coin that joins.

And being added to crypsty will just make life easier for people who mine and dump this coin.

I really hope that I am totally wrong and that the DEVS will release some news soon that will make me feel sorry and apologize for doubting them