[ANN][SIM] Simcoin - A Simple Coin

[SyRenity]

It looks like the IPO has closed itself, so let’s make it official:
THE IPO IS CLOSED

Great, and I already wanted to propose a bet when the IPO will close .
Anyone wants another bet then - how soon the first person will appear, claiming the IPO was unfair, it was obscure and should have lasted much more and with larger distribution?

Ah and (as usual) after waiting too much to increase my stake:
WTB, 0.5 - 1 BTC worth, 150% of the original IPO price.

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[peled1986]

Ah and (as usual) after waiting too much to increase my stake:
WTB, 0.5 - 1 BTC worth, 150% of the original IPO price.

You are optimistic – to buy a stake will cost you at list X10 the IPO price.  

[SyRenity]

Ah and (as usual) after waiting too much to increase my stake:
WTB, 0.5 - 1 BTC worth, 150% of the original IPO price.

You are optimistic – to buy a stake will cost you at list X10 the IPO price.  

One have to set a starting price .

NxtChg, will you support trades done on a separate trading thread (ala qora), or best to wait for the exchange?

[xtester]

It looks like the IPO has closed itself, so let’s make it official:
THE IPO IS CLOSED

Great, and I already wanted to propose a bet when the IPO will close .
Anyone wants another bet then - how soon the first person will appear, claiming the IPO was unfair, it was obscure and should have lasted much more and with larger distribution?

Ah and (as usual) after waiting too much to increase my stake:
WTB, 0.5 - 1 BTC worth, 150% of the original IPO price.

LOL

Let me suggest a better bet: how soon do you think simcoin will trade over 500 sats?   

P.S. Everybody wanted to invest more, so I guess nobody will sell for such a low price. 

[SyRenity]

P.S. Everybody wanted to invest more, so I guess nobody will sell for such a low price.  

Guess we all have a stalemate here, then .

Don't forget though, one of reasons for NXT success, was because it got spread nicely from the start.

[peled1986]

starting price should be 500 satoshi per simcoin.
I will start selling @ 2500 satoshi  

[SyRenity]

starting price should be 500 satoshi per simcoin.
I will start selling @ 2500 satoshi  

Well, I'll let you guys discover the market price, meanwhile some of us have their own IPO's to launch .

[xtester]

starting price should be 500 satoshi per simcoin.
I will start selling @ 2500 satoshi 

Just think for a second, if NxtChg will deliver something remotely close to what he plans, we will see at least prices similar to Nxt.

Stop looking at it on a very short term, although it will be very tempting, 2500 is nothing for the longer term.

[peled1986]

starting price should be 500 satoshi per simcoin.
I will start selling @ 2500 satoshi  

Just think for a second, if NxtChg will deliver something remotely close to what he plans, we will see at least prices similar to Nxt.
Stop looking at it on a very short term, although it will be very tempting, 2500 is nothing for the longer term.

I agree with you

Anyone wants another bet then - how soon the first person will appear, claiming the IPO was unfair, it was obscure and should have lasted much more and with larger distribution?

If I am not wrong simcoin is the longest IPO so far, and no escrow made it more risky for original stake holders.
I wasn't involved so much in NXT, had to read all of NxtChg old posts to see if he is trust worthy - was fun  
Very sarcastic but super clever.

[NxtChg]

NxtChg, will you support trades done on a separate trading thread (ala qora), or best to wait for the exchange?

I see you guys are eager to trade... I wanted to wait for a few weeks, but if you insist, I can setup the exchange right away, it shouldn't take more than a few days.

P.S. Everybody wanted to invest more, so I guess nobody will sell for such a low price. 

I wouldn't count on it. There were many people who wanted a refund...

[peled1986]

I see you guys are eager to trade... I wanted to wait for a few weeks, but if you insist, I can setup the exchange right away, it shouldn't take more than a few days.

you are master sensei - you controlled the pace until now and no reason this should change.

I wouldn't count on it. There were many people who wanted a refund...

It's a shame you didn't give them a refund, they don't deserve to be original stakeholders.

[gstarcev]

I speculated that the IPO would last much longer (at least 6 months) and deliberated the amount to invest and managed to not invest at all.  

@xtester: what would you say now about "later investors having significantly less risk"?

@gstarcev: 6 months?! And have at least 200 very pissed-off early adopters? That's not the way to start a project...

Besides, I kept telling people: invest small, increase later. You have no one to blame but yourself, sorry.

Yup, I'm angry at myself pretty much. Ok, if person X wanted to sell stake to person Y, could that be supported and in what way?

[NxtChg]

I see you guys are eager to trade... I wanted to wait for a few weeks, but if you insist, I can setup the exchange right away, it shouldn't take more than a few days.

you are master sensei - you controlled the pace until now and no reason this should change.

I would prefer any trades to happen on the exchange, so they would be recorded and we could later analyze how the distribution changed over time.

Can you, guys, wait for a week or two?

We need to decide the day of opening, because the first day is important - seems like lots of money is gonna change hands

Should it be a weekend or a regular day? The time will be around now, so both Europe and US are in daytime.

[peled1986]

Can you, guys, wait for a week or two?

I was ready to wait until August 12, 2038.
a week or two is nothing.  

We need to decide the day of opening, because the first day is important - seems like lots of money is gonna change hands
Should it be a weekend or a regular day? The time will be around now, so both Europe and US are in daytime.

good idea.

[peled1986]

Still, I've managed to do a bit of work:
- working on database format for the ledger, significantly reduced the size
- packet encryption updated once again :-)
- detecting ini file changes and reloading it automatically on nodes (a special task for that)
- two time classes based on QueryPerformanceCounter()
- split the client into core dll and shell exe
- working on client auto-update with fsonex
- developing task handling: incoming packets processing and wake up on time intervals, adding/killing, etc.
- setup 4 local nodes to test the network
- request tracking
- JS API extended: reg_account(),get_progess(), kill_task()
- working on consensus
- 2 ping tasks
- 3 account registration tasks (2 for nodes, 1 for client)
- New Account request format, 2 PoW’s for spam protection, second layer encryption, verification.
- simple progress dialog in the client, account registration
- network simulator updated to use consensus, did some tests with various parameters.
This is just a high-level overview. In reality it was 185 closed to-do items

sounds like you did ALOT of work.

is the progress list updated?

Progress

• crypto code (95%)
• network code (80%)
• transactions code (5%)
• native Windows client (10%)
• exchange (90%)
• initial servers setup (0%)
• web client with JS signing (5%)
• forum + wiki (10%)

[gstarcev]

Would this proposed exchange deal with "real" SIMcoins or would it trade with stakes/tokens representing stake(s)? In later case, NXT asset exchange appears somehow optimal, I'd think.

[NxtChg]

is the progress list updated?

It's a very rough estimate, rarely updated so don't pay attention to it.

Would this proposed exchange deal with "real" SIMcoins.

Real.

Make it a Thursday @ Noon EST...

Noon EST is too late. We need to give Aussies a chance too Let's say 3-4 PM UTC.

[lyynx]

Take a lesson from other newly released coins faults and wait until the dev agrees the coin is ready to be traded. The longer we wait, the better. I have no issue waiting 2 weeks or 2 months for that matter. Just more time for other to salivate on getting their hands on Sim.

[xtester]

I see you guys are eager to trade... I wanted to wait for a few weeks, but if you insist, I can setup the exchange right away, it shouldn't take more than a few days.

you are master sensei - you controlled the pace until now and no reason this should change.

I would prefer any trades to happen on the exchange, so they would be recorded and we could later analyze how the distribution changed over time.

Can you, guys, wait for a week or two?

We need to decide the day of opening, because the first day is important - seems like lots of money is gonna change hands

Should it be a weekend or a regular day? The time will be around now, so both Europe and US are in daytime.

Great idea with the exchange. Take your time, people will still be here waiting and I don't think I'll be selling very soon.  

Looking forward to it and to how our statistics will change.

I don't think it will matter much whether it's week day or weekend as long as it will be announced before hand.
But if we have to choose, then take weekends since more people will be free and able to attend if they want.

[NxtChg]

Ok, so it's settled then. The exchange will be open somewhere between 1 and 2 weeks.

Until then, the only allowed sales are whole accounts: i.e. the seller sends the buyer his account password, the buyer sets his own email and resets the password.

But notify me about all such transactions so the previous owner won't be able to claim that his account was hacked.