[ANN] SilkCoin | New Wallet | NOW on MintPal / Cryptsy | FULL POS

[WhiteNotWright]

How are you guys surprised this is happening? Seriously? It's insane. Who the hell would still be buying? This thing was a premined scamcoin and you've been lied to from day 1. The longer you hold the more you lose.

Actually that is not true. You only lose when you sell at a loss. You might want to go back and read that chapter.

[ontopicplease]

Actually, quite remarkable what is happening here. My conclusion from today is; we (SC) lost 20% because the devs gave us a white paper that didn't have an academic level. But, as far as I can see, an academic level and a white paper in excellent english language are not the key to the heaven in the cryptoworld. Maybe i made a mistake, but I decided to buy some extra SC in the last 2 hours.

[kalisto]

Actually, quite remarkable what is happening here. My conclusion from today is; we (SC) lost 20% because the devs gave us a white paper that didn't have an academic level. But, as far as I can see, an academic level and a white paper in excellent english language are not the key to the heaven in the cryptoworld. Maybe i made a mistake, but I decided to buy some extra SC in the last 2 hours.

A white paper dont need a academic level, maybe we saw this with Satoshi's paper but in general a white paper uses selected facts and logical arguments to build a case around solving a specific business problem, This is exactly what this white papers delivers, problems that are ahead and exactly how they gonna tacle them with proven technique's and facts. Everything makes sense if you connect those pieces together described in the paper. Also remember it is a first version but it gives a proper describtion of what they are trying to do.

For the people that tried to read it but didn't understand. They gonna use the blockchain to create a decentralised authorisation layer (a user database) and with these credentials you get what belongs to you on the decentralised resource storage (kademlia). Possibilities are endless with this combination and you can compare it a little with maidsafe. Only the silkcoin devs are going to use proven opensource technique's to realise this and the maidsafe devs build it from scratch and by having a fundraiser event of 6 Milion $$$$$.

[kidyubyub]

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[uamazeballzme]

Silkcoin,

The registration mechanism you're proposing has an interesting application towards preexisting non-p2p systems.

Suppose a website owner who employs a home grown authentication system is able to add a Silk authentication module allowing his system to verify the identity and authenticate visitors against the blockchain. The process could be made seamless for the user via browser plug-in for challenge/response authentication, or token based a la OAuth. The website owner would never need to store the users credentials.

I believe what you're proposing, in particular, decentralized content could coexist and benefit preexisting non-p2p systems.

I'm doing some work in this area, have been hacking on Bitcoin's P2P protocol. Ping me if anyone wants to discuss further, hopefully outside the fray of the ANN thread!

[ontopicplease]

Actually, quite remarkable what is happening here. My conclusion from today is; we (SC) lost 20% because the devs gave us a white paper that didn't have an academic level. But, as far as I can see, an academic level and a white paper in excellent english language are not the key to the heaven in the cryptoworld. Maybe i made a mistake, but I decided to buy some extra SC in the last 2 hours.

A white paper dont need a academic level, maybe we saw this with Satoshi's paper but in general a white paper uses selected facts and logical arguments to build a case around solving a specific business problem, This is exactly what this white papers delivers, problems that are ahead and exactly how they gonna tacle them with proven technique's and facts. Everything makes sense if you connect those pieces together described in the paper. Also remember it is a first version but it gives a proper describtion of what they are trying to do.

For the people that tried to read it but didn't understand. They gonna use the blockchain to create a decentralised authorisation layer (a user database) and with these credentials you get what belongs to you on the decentralised resource storage (kademlia). Possibilities are endless with this combination and you can compare it a little with maidsafe. Only the silkcoin devs are going to use proven opensource technique's to realise this and the maidsafe devs build it from scratch and by having a fundraiser event of 6 Milion $$$$$.


Anyway i love the cheap prices of SC atm. I recommend anyone to buy  

Glad to here this. But, how do you explain the price drop we saw the last week and the extra drop after the white paper came out. Having done a lot of trading on stockexchanges, I know these kinds of things happen, but I am always trying to analyse price-behaviour.

[Senth]

I think the OP need a good update about the latest news. If new investor wants more information about the coin, a up to date OP is critical.
With new whitepaper and upcoming wallet. It should be the first thing people see when they look at the ANN front page.
The ANN banner needs a update too.  Showing how innovation is the driven force to this coin.

PS. I think the Whitepaper shows how innovative it is but someone need to explain it in layman's terms. I think majority of the people kinda gets the idea but still scratching his/her head after reading it.

[kalisto]

Silkcoin,

The registration mechanism you're proposing has an interesting application towards preexisting non-p2p systems.

Suppose a website owner who employs a home grown authentication system is able to add a Silk authentication module allowing his system to verify the identity and authenticate visitors against the blockchain. The process could be made seamless for the user via browser plug-in for challenge/response authentication, or token based a la OAuth. The website owner would never need to store the users credentials.

I believe what you're proposing, in particular, decentralized content could coexist and benefit preexisting non-p2p systems.

I'm doing some work in this area, have been hacking on Bitcoin's P2P protocol. Ping me if anyone wants to discuss further, hopefully outside the fray of the ANN thread!

Interesting. What you describe is basicly the same as keyhotee. So yes using the blockchain for authentication is possible with this system but others are already busy with developing this.

[kalisto]

Glad to here this. But, how do you explain the price drop we saw the last week and the extra drop after the white paper came out. Having done a lot of trading on stockexchanges, I know these kinds of things happen, but I am always trying to analyse price-behaviour.

Maybe someone pulled the trigger to supress the market (sees potential in this coin?) and now people are scared what's next before more money flows in and a possible bullrun starts. Also the market is bearish atm after the last ATH and need good news to turn bullish. The white paper and upcoming beta can trigger this with proper exposure. So, I would like to propose that the silkcoin team writes a Press Release this week to gain some traction from outside this topic.  

Also when one starts panic selling a lot of weak hands decide to follow. There was a user in this topic that showed us a video how easy people are tricked into selling. One advice, dont try to watch the market all day but try to see where this coin is going in the next months.

[BadAss.Sx]

But, how do you explain the price drop we saw the last week and the extra drop after the white paper came out. Having done a lot of trading on stockexchanges, I know these kinds of things happen, but I am always trying to analyse price-behaviour.

It's fixed! Exactly after the release of the WP the price started to drop and every time the price went up, it dropped again. That wasn't because of the WP (5 minutes after release has nothing to do with the WP), because they (the ones who are jealous of this coin) waited until it came out to start the panic on the market. And the non believers, which hoped for a quick buck, started to sell their stock also.

So no worries, the WP is ok and the trust in this coin is high by it's real believers, but for now it looks like a dramatic drop which causes for panic. Just buy at this price, you are just going to thank me later for this. Since there are stocks, there are fudders which try to cause some panic. All depends on the beta version of their eco system.

[WhiteNotWright]

But, how do you explain the price drop we saw the last week and the extra drop after the white paper came out. Having done a lot of trading on stockexchanges, I know these kinds of things happen, but I am always trying to analyse price-behaviour.

It's fixed! Exactly after the release of the WP the price started to drop and every time the price went up, it dropped again. That wasn't because of the WP (5 minutes after release has nothing to do with the WP), because they (the ones who are jealous of this coin) waited until it came out to start the panic on the market. And the non believers, which hoped for a quick buck, started to sell their stock also.

So no worries, the WP is ok and the trust in this coin is high by it's real believers, but for now it looks like a dramatic drop which causes for panic. Just buy at this price, you are just going to thank me later for this. Since there are stocks, there are fudders which try to cause some panic. All depends on the beta version of their eco system.

yep, panic sellers know they pushed the button too soon and are stuck on the sides debating taking a little loss in buying back in, but afraid now because they are not seeing immediate growth. I have experienced this in several coins and in every case, the new money comes in a pushes them down even farther before they understand they need to have a loss leader at some point.

[psychocoin]

Been waiting for a time like this to buy in Never felt more confident about an alt-coin than now.

[BadAss.Sx]

I'm also going to throw in a few btc. Thanks fudders

[temrus63]

gays!
thx to sell)
we must buy it all
and on 8000 satoshi/sc we have good profit

[arteleis]

I have not bought anymore.  At this point I have slightly more than 1% of all coins.  Like I said this could be bigger than Bitcoin.  At that rate 500k would be enough for me.

Judge, if I behave myself can I come on your yacht one day please?

Yes... when this takes off I will have a HUGE party!

We also own about the same amount of coins.   I'll throw in for that party.   My group is up in Canada.  Where should the Party be!!??

[arteleis]

Some people may just be a little bit familiar with scientific publications... and even if this is only a whitepaper... it doesn't meet the scientific standards. Considering the fact that the scientific standard is relatively easy to obtain if one is used to it... the conclusion would be that the devs are not familiar in the scientific world...

I don't know which word processing system the dev used... it looks like Word... brrrrr... standard would be TeX. So I can understand if people panic sell...

Thanks for your impression of the format. Could you comment on the content?
Regarding familiarity with convention, do you believe this is important in the world in crypto currencies?

White paper is not a scientific document, it originated in government and law and is more commonly used in marketing in current times.

Well just look at the indents of the headlines or at the empty lines beneath it... there is no system at all. I believe that trust in the dev is important. This whitepaper looks a little sloppy - that's all what I wanted to say. I did not want to create FUD ... I hope it will be regarded as constructive criticism. Maybe there was time pressure - well nobody cares about that - that's life.

Whitepaper is no scientific document that's right... but on the other hand informatics is teached at universities. And I think a high standard would help crypto to gain reputation in general. As it is now I never know if there is a professional being behind a paper or some highschool kids. Although highschool kids may be the most creative people... difficult to judge. Notable exception would be XC.

Regarding the content: I'm not competent enough to judge this  

I actually completely agree with you. I also feel prefer a professional looking format and attention to detail (spelling etc).
I suspect you have academic background and that you are familiar with the difficulties of academic publishing.

On the other hand, I don't really want my silkcoin devs to spend their time trying to live up to the expectations of the academic establishment. It seems to me they have a vision and that their talent lies in coding and seeing the possibilities and power of the blockchain.
If they can actually find a way to build a social network on the blockchain in a usable format, that would be immense.

I suspect there was time pressure. They have been working hard to get everything out as they promised and for me personally it inspires great trust.
Even having half a document today is much better than having no document today.

On the other hand, I also don't think they need to rush this. The market creates false expectations but what people need to remember is that there are quite a few people playing games with the exchanges. They might feel under pressure to try and keep the price buoyed up with new releases, but the price will follow the invention. If they keep calm and steady and carry on with their plan, Silkcoin will be successful.

(Also devs thanks for getting it proofread, as you can see there are harsh critics out there!)

Many people tend to forget the rules of the market in my opinion. I expected this drop. Chart doesn't look too good. Silkcoin will have some hard weeks from now on, I think. The release of the ecosystem could be a turning point... but don't be too sure about it. Many competitors are out there...
There is too much euphoric hype and too much blind FUD... on the other hand - this is what we all (hopefully) make our money with, don't we?  

@Judge: I don't think, that Silk will reach Bitcoin's level. And the concept is not so new... look at NXT for example. I remember Evan from DRK saying: ''Who wants to compete with us?'' This was about one month ago. Now there are many coins ready to overtake DRK, although it may take some time.

@Silkcoin: I appreciate your work and even more your vision guys! It is my vision as well. But it's a war out there. I hope you will be victorious in some way!

Once the eco-system is secure, I believe it would be beneficial not to be at war necessarily with other coins, but to join together as an entire cryptocommunity and see the platform integrated into many wallets voted on by the silkcoin community.

[WhiteNotWright]

Some people may just be a little bit familiar with scientific publications... and even if this is only a whitepaper... it doesn't meet the scientific standards. Considering the fact that the scientific standard is relatively easy to obtain if one is used to it... the conclusion would be that the devs are not familiar in the scientific world...

I don't know which word processing system the dev used... it looks like Word... brrrrr... standard would be TeX. So I can understand if people panic sell...

Thanks for your impression of the format. Could you comment on the content?
Regarding familiarity with convention, do you believe this is important in the world in crypto currencies?

White paper is not a scientific document, it originated in government and law and is more commonly used in marketing in current times.

Well just look at the indents of the headlines or at the empty lines beneath it... there is no system at all. I believe that trust in the dev is important. This whitepaper looks a little sloppy - that's all what I wanted to say. I did not want to create FUD ... I hope it will be regarded as constructive criticism. Maybe there was time pressure - well nobody cares about that - that's life.

Whitepaper is no scientific document that's right... but on the other hand informatics is teached at universities. And I think a high standard would help crypto to gain reputation in general. As it is now I never know if there is a professional being behind a paper or some highschool kids. Although highschool kids may be the most creative people... difficult to judge. Notable exception would be XC.

Regarding the content: I'm not competent enough to judge this 

I actually completely agree with you. I also feel prefer a professional looking format and attention to detail (spelling etc).
I suspect you have academic background and that you are familiar with the difficulties of academic publishing.

On the other hand, I don't really want my silkcoin devs to spend their time trying to live up to the expectations of the academic establishment. It seems to me they have a vision and that their talent lies in coding and seeing the possibilities and power of the blockchain.
If they can actually find a way to build a social network on the blockchain in a usable format, that would be immense.

I suspect there was time pressure. They have been working hard to get everything out as they promised and for me personally it inspires great trust.
Even having half a document today is much better than having no document today.

On the other hand, I also don't think they need to rush this. The market creates false expectations but what people need to remember is that there are quite a few people playing games with the exchanges. They might feel under pressure to try and keep the price buoyed up with new releases, but the price will follow the invention. If they keep calm and steady and carry on with their plan, Silkcoin will be successful.

(Also devs thanks for getting it proofread, as you can see there are harsh critics out there!)

Many people tend to forget the rules of the market in my opinion. I expected this drop. Chart doesn't look too good. Silkcoin will have some hard weeks from now on, I think. The release of the ecosystem could be a turning point... but don't be too sure about it. Many competitors are out there...
There is too much euphoric hype and too much blind FUD... on the other hand - this is what we all (hopefully) make our money with, don't we? 

@Judge: I don't think, that Silk will reach Bitcoin's level. And the concept is not so new... look at NXT for example. I remember Evan from DRK saying: ''Who wants to compete with us?'' This was about one month ago. Now there are many coins ready to overtake DRK, although it may take some time.

@Silkcoin: I appreciate your work and even more your vision guys! It is my vision as well. But it's a war out there. I hope you will be victorious in some way!

Once the eco-system is secure, I believe it would be beneficial not to be at war necessarily with other coins, but to join together as an entire cryptocommunity and see the platform integrated into many wallets voted on by the silkcoin community.

After reading through the paper I felt the same way. A commodity for the community. Too bad Brocade has a trademark on the Silkworm name. Would have been perfect. Maybe Bombyx mori or something would work. Hell I don't know, tonight we drink.

[arteleis]

Silkcoin,

The registration mechanism you're proposing has an interesting application towards preexisting non-p2p systems.

Suppose a website owner who employs a home grown authentication system is able to add a Silk authentication module allowing his system to verify the identity and authenticate visitors against the blockchain. The process could be made seamless for the user via browser plug-in for challenge/response authentication, or token based a la OAuth. The website owner would never need to store the users credentials.

I believe what you're proposing, in particular, decentralized content could coexist and benefit preexisting non-p2p systems.

I'm doing some work in this area, have been hacking on Bitcoin's P2P protocol. Ping me if anyone wants to discuss further, hopefully outside the fray of the ANN thread!

I have approximately 300 crypto related domains that are scheduled for production and marketing this year.  I am also pondering over the ideas of this system and how they might be integrated.  This is why I'm looking at silk as a long term hold.  As opposed to all the pump and dump coins out there.  I want systems that will be around long term.  Not just fad coins.

[bluepixie]

I feel like the bow string just got pulled back. Time to shoot this arrow.  Crazy thing is everyone buys then moves there coins to stake. We need some upward movement.

[Grifftech2k4]

Silkcoin,

The registration mechanism you're proposing has an interesting application towards preexisting non-p2p systems.

Suppose a website owner who employs a home grown authentication system is able to add a Silk authentication module allowing his system to verify the identity and authenticate visitors against the blockchain. The process could be made seamless for the user via browser plug-in for challenge/response authentication, or token based a la OAuth. The website owner would never need to store the users credentials.

I believe what you're proposing, in particular, decentralized content could coexist and benefit preexisting non-p2p systems.

I'm doing some work in this area, have been hacking on Bitcoin's P2P protocol. Ping me if anyone wants to discuss further, hopefully outside the fray of the ANN thread!

This^^^^^^^^ This is the kind of constructive feedback we need in here. Sounds like you could be valuable to the team!