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Author Topic: [ANN][SIM] Simcoin - A Simple Coin  (Read 157080 times)
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Feedthemcake
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May 06, 2014, 01:39:37 PM
 #341

August 11, 2038
August 12, 2038

LOL.... meanwhile sussex in the other room is decorating his thread  with quotes Smiley

A sense of humor is highly correlated with intelligence.

I wonder if negatives correlate too Smiley

You're doing the right thing, it's better to have everything said and done before closing the IPO than closing it and having nothing done but collection of btc's.
You have the opportunity to finish what you have to and then surprise everyone with rolling out what you've been working on when you say you will vs. rushing to get things done.
I have faith in this one. Glad I put up some coin.
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May 08, 2014, 01:32:36 AM
 #342

<1 sec confirmation is an awesome idea. I've no idea if it's even possible (there must be a reason why nobody done it before) but it would be great.
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May 08, 2014, 07:53:25 AM
 #343

(there must be a reason why nobody done it before)


Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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About smaragda and his lies: https://medium.com/@nxtchg/about-smaragda-and-his-lies-c376e4694de9
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May 08, 2014, 03:35:20 PM
 #344

Oh, turns out today is 1-month birthday of this topic Smiley



So, the top 10 investors own 24.17%, a slight decrease from 25.54% on April, 28.

Good.

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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May 09, 2014, 04:51:54 AM
 #345

Seems someone is developing something similar.

https://github.com/zack-bitcoin/basiccoin

What do you think of the project? Is there anything useful we can take away?
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May 09, 2014, 06:27:27 AM
 #346

Seems someone is developing something similar.

https://github.com/zack-bitcoin/basiccoin

What do you think of the project? Is there anything useful we can take away?

It's not that similar. Basic Coin's source code is much smaller than Bitcoin's, and it's function-centric so as to make adding new features more straightforward. It's deliberately trying to make things "simple" for developers. Simcoin, on the other hand, aims at making things simple for end users.

The two goals are more different than you may think. Back in tha day when GUIs were first being developed, programmers took this fatalistic rule of thumb to heart: "The easier to use, the harder to program."






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...INTRODUCING WAVES........
...ULTIMATE ASSET/CUSTOM TOKEN BLOCKCHAIN PLATFORM...






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May 09, 2014, 08:07:26 AM
 #347

Seems someone is developing something similar.

https://github.com/zack-bitcoin/basiccoin

What do you think of the project? Is there anything useful we can take away?

It's nice to see that developers start to appreciate this approach.

Of course, you cannot program anything remotely meaningful in 500 line of code no matter how advanced your programming language is, and Python is certainly not a silver bullet.

They also use blockchain and PoW, which means they are essentially copying Bitcoin in a much slower language. (I wonder, why would people make PoW coins at this point? Huh)

So, don't worry, no reason for me to quit yet Wink

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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About smaragda and his lies: https://medium.com/@nxtchg/about-smaragda-and-his-lies-c376e4694de9
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May 09, 2014, 08:10:52 AM
 #348

"The easier to use, the harder to program."

Oh, that's a sad truth I live by every day Sad

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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About smaragda and his lies: https://medium.com/@nxtchg/about-smaragda-and-his-lies-c376e4694de9
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May 09, 2014, 08:19:37 AM
 #349

"The easier to use, the harder to program."

Oh, that's a sad truth I live by every day Sad

I'm sure you'll make it. It's worth trying to make it user-friendly.

Behold the Tangle Mysteries! Dare to know It's truth.

- Excerpt from the IOTA Sacred Texts Vol. I
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May 09, 2014, 08:33:03 AM
 #350

"The easier to use, the harder to program."

Oh, that's a sad truth I live by every day Sad

It's been a sad truth ever since experts systems were first put together in the 1960s. If you're ever feeling down, go ask some AI guys about how hard it's been to computer-simulate something as intuitive as sight! That'll give you some perspective. Smiley






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█████████████████████████████████████████████████████████████████████████████████████████████████





...INTRODUCING WAVES........
...ULTIMATE ASSET/CUSTOM TOKEN BLOCKCHAIN PLATFORM...






xtester
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May 09, 2014, 09:08:35 AM
 #351

Seems someone is developing something similar.

https://github.com/zack-bitcoin/basiccoin

What do you think of the project? Is there anything useful we can take away?

It's nice to see that developers start to appreciate this approach.

Of course, you cannot program anything remotely meaningful in 500 line of code no matter how advanced your programming language is, and Python is certainly not a silver bullet.

They also use blockchain and PoW, which means they are essentially copying Bitcoin in a much slower language. (I wonder, why would people make PoW coins at this point? Huh)

So, don't worry, no reason for me to quit yet Wink

Didn't show it to make you quit. Smiley

Just thought it might be interesting.
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May 09, 2014, 09:13:32 AM
 #352

Didn't show it to make you quit. Smiley

Just thought it might be interesting.

No, it is, thanks for the link.

Their heart is in the right place Smiley

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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May 09, 2014, 12:34:26 PM
 #353

Didn't show it to make you quit. Smiley

Just thought it might be interesting.

No, it is, thanks for the link.

Their heart is in the right place Smiley

Regarding the IPO I was thinking it is a good thing that as many investors participate as possible in order to spread the distribution. However, my question is wouldn't it be good to also create an incentive for early investors to keep investing and reward them proportional to their risk?

The thing is that if you leave the IPO open for lets say 3 - 6 months and gather an important amount of btc, on the one hand it is a very good thing, a lot of people can participate and will do so as they see the project developing and serious work being done. On the other hand I think it may be in the best interest of the community also make a bit of a distinction between the stages of investment and differentiate the rewards proportionately.

In any case, an intelligent discussion on the matter should always be welcomed, right?

What are your thoughts on the matter?
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May 09, 2014, 01:06:06 PM
 #354

What are your thoughts on the matter?

My goal is a long-term success of this project. I would very much like it if Simcoin reached dollar parity one day and would be used by at least 100,000 people.

When you keep this goal in mind, the current state of the IPO (one month and 166 investors) doesn't look particularly significant.

Yes, it can be upsetting to watch your share decrease. My advice - don't. Current number is pretty much meaningless until the IPO is closed.

I doubt it will stay open for 6 months, so no reason to panic yet Smiley


Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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May 09, 2014, 02:44:13 PM
 #355

What are your thoughts on the matter?

My goal is a long-term success of this project. I would very much like it if Simcoin reached dollar parity one day and would be used by at least 100,000 people.

When you keep this goal in mind, the current state of the IPO (one month and 166 investors) doesn't look particularly significant.

Yes, it can be upsetting to watch your share decrease. My advice - don't. Current number is pretty much meaningless until the IPO is closed.

I doubt it will stay open for 6 months, so no reason to panic yet Smiley



Glad to see you have a long term vision on the matter, it's something rare these days. Signals seem to indicate I'm in the right place.

As you can see, this is not a matter of panic at all. Rather, as I don't think you just make arbitrary choices, my question/suggestion is: wouldn't it be better if we could find a way to hold the goal you mentioned in mind and in addition to that also find a better way to deal with IPO investors?

An example would be to set lets say 3 stages for the IPO. Early stage -  the riskiest part, some interesting ideas and a basic plan, 2nd stage - moderate risk, some developments are visible and 3rd stage - less risky, project seems very promising and a lot of investors, dev team and community are contributing a lot to the project.

Thoughts?



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May 09, 2014, 02:49:02 PM
 #356

An example would be to set lets say 3 stages for the IPO. Early stage -  the riskiest part, 2nd stage - moderate risk, some developments are visible and 3rd stage - less risky, project seems very promising and a lot of investors, dev team and community are contributing a lot to the project.

Ask other investors, if they are Ok with you taking part of their money just because you've noticed this topic just a week earlier Smiley

Seems hardly fair to me. Plus, late investors gained some certainty, but also lost some, because the probability of sudden IPO closure is now much higher.


Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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May 09, 2014, 03:25:35 PM
 #357

An example would be to set lets say 3 stages for the IPO. Early stage -  the riskiest part, 2nd stage - moderate risk, some developments are visible and 3rd stage - less risky, project seems very promising and a lot of investors, dev team and community are contributing a lot to the project.

Ask other investors, if they are Ok with you taking part of their money just because you've noticed this topic just a week earlier Smiley

Seems hardly fair to me. Plus, late investors gained some certainty, but also lost some, because the probability of sudden IPO closure is now much higher.



I'm not trying to take anyone's money, but rather to help the community of which I am part to set some rules with incentives for the right things.

Fairness becomes meaningless when used in such random situations. My point is that in practice the sudden IPO closure probability plays no role for the real investor(not to be confused with speculator). What you want to know and evaluate is risk/reward probability, that is how you make right decisions for the long term, the rest is noise.
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May 09, 2014, 03:33:25 PM
 #358

I'm not trying to take anyone's money, but rather to help the community of which I am part to set some rules with incentives for the right things.

Right. So with this new rule, if somebody invested after you, his share becomes smaller, while yours bigger, correct? How is it not taking his money?

I don't care one way or the other, it's just more work for me, but I could factor in the account's age (how to measure it, by the way? by registration? first deposit?).

I just don't think it's fair and that it creates unnecessary mess, but if the majority of investors think it's the way to go - I can do it.

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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About smaragda and his lies: https://medium.com/@nxtchg/about-smaragda-and-his-lies-c376e4694de9
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May 09, 2014, 03:40:08 PM
 #359

You could make it something simple like before the alpha is stage 1 and after is stage 2.
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May 09, 2014, 04:01:25 PM
 #360

You could make it something simple like before the alpha is stage 1 and after is stage 2.

Well, people before alpha will be for it and people after - against.

I guess the very first thing to do is to implement a voting system, with votes proportional to stake Smiley

But I'd hate to waste my time on this. It means delaying the release even further...

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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About smaragda and his lies: https://medium.com/@nxtchg/about-smaragda-and-his-lies-c376e4694de9
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