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

[MEGAman]

I predict we see sub-1500 tomorrow. Down to mid-triple digits by Friday. Have I been wrong yet? Ask yourself that question - maybe I'm not as crazy as you think I am. Just maybe my perfect 11 for 11 score of calling out scam coins has some merit. I know this will make me 12 for 12 but I can't call it until the price is under 200 satoshis and the dev hasn't logged in for at least 5 days. Then I can check it off the list.

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[komodovpn]

For future reference: https://i.imgur.com/Cq28gre.png

[Jacqul]

I was once sitting in front of my PC reading a post from a guy called BCnext.
He was proposing a new kind of cryptocurrency system, similar but not based on Bitcoin.
This resonated with me because I suspect Bitcoin is the foundation but something else will come along, inspired by it but overtaking it.

My hand hovered over the "send" as I was about to send 1BTC to take part. I decided to sleep on it first.
The next morning it seemed obvious to me that this was a relatively simple scam.
I did not send the money.

I went on holiday and when I came back I had forgotten all about it.
Next time I saw Nxt... well it was on coinmarketcap and I was feeling a bit cheated. I felt cheated by my paranoia!
Since then I have been victim of a few scams but I have never lost as much money as I could've made. Over all I am kind of even.
Often I wish I could suppress the idealistic side of me when it comes to investment.

Sometimes I feel the risks in cryptocurrency is NOT investing.

In any case. I just felt the need to tell a story.



Regarding the pre-mine. Thanks for all the discussion about it.

The danger in having a large pre-mine is the same as the danger of one person owning a lot of the currency.
(Which is what made me think of Nxt and the story above.)
Ultimately the aim is for wide and relatively even distribution of the supply, which will stabilize the price and lead to wider adoption.
I don't believe the 2% difference will stop this from happening or that destroying it will lead to this happening.
For the devs to get rich, a better idea would be to buy or mine a lot of coins initially and then work hard to make it a success.
I personally hope they are not quite rich yet because I think programmers and writers work better hungry (sorry but it's true!) (relatively).

I was thinking about the question about what would be my personal limit for a premine.

It depends on what it is used for.
If it is a stable fund used to further the coin by bounties and dev funding then I can happily handle the thought of quite a large premine.
All POS coins (that were not mined like Nxt for example) are effectively 100% premine coins which are then distributed for contribution.

Silkcoin had 2 POW phases. This means that people into mining got most of the 45 mil coins.
I wish I knew where they were now. Hopefully it is relatively well distributed. Some early adopters like myself changed BTC into SC and there must be some miners who got rich.
I sincerely hope the dev have lots of SC apart from the premine.

I agree with Judge that attracting investors at this stage might not benefit SC as a whole. We don't need whales in here. Whales lead to market manipulation.
What we need is to get everyone to download and open the SC wallet and have a few SC in there staking. This might be more possible with a premine that is dev controlled and distributed.

[MEGAman]

For future reference: https://i.imgur.com/Cq28gre.png

Yeah - and for current reference:

It's not rising again you goons - it's only going to go in one direction: down. You idiots keep comparing it to Blackcoin because that's the code the dev copied and pasted but the primary differences are Blackcoin was first and there's no need for a duplicate... and Blackcoin had a 0% premine where Silkcoin premined over 2 million coins (which were all PoS eligible). Sure the dev gave away a few hundred coins here/there to get you all voting on MintPal so they could dump but they premined half of the coins in circulation! This is a really bad investment! In one week come tell me I was wrong.

7 days from today I will pm you to tell you that you were wrong

I can't wait. Mark your calendars, fellas.

you must wait 7 days

Never got your PM by the way - what happened? Wonder if it has anything to do with the fact that it's worth less than 1/3 of the price it was at when we had this convo a week ago 

[m104323419]

I predict we see sub-1500 tomorrow. Down to mid-triple digits by Friday. Have I been wrong yet? Ask yourself that question - maybe I'm not as crazy as you think I am. Just maybe my perfect 11 for 11 score of calling out scam coins has some merit. I know this will make me 12 for 12 but I can't call it until the price is under 200 satoshis and the dev hasn't logged in for at least 5 days. Then I can check it off the list.

曼佳美是骗子之前说跟我交易的BTC骗了我5个BTC。骗子！骗子！

[Jacqul]

I predict we see sub-1500 tomorrow. Down to mid-triple digits by Friday. Have I been wrong yet? Ask yourself that question - maybe I'm not as crazy as you think I am. Just maybe my perfect 11 for 11 score of calling out scam coins has some merit. I know this will make me 12 for 12 but I can't call it until the price is under 200 satoshis and the dev hasn't logged in for at least 5 days. Then I can check it off the list.

曼佳美是骗子之前说跟我交易的BTC骗了我5个BTC。骗子！骗子！

Megaman you seem to have a chinese fan.
Any idea what he/she is saying?

For the record: I think you are right. The price is going to fluctuate.
If price gets to 1000sats I will buy 1mil SC. Then I will be rich enough to retire if it gets to $1 per SC.
If it gets to 10sats I will buy another 10mil and sit and play with my camel all day. Then sell my car to buy more bitcoin.

I'm very excited to see the wallet update today.
It seems like people are all into wallet included features at the moment. Some are asking for market overview tab in the wallet.
I see that another group is incorporating betting features.

[Jacqul]

So you have to ask yourself.  What is Silk coin doing that is creating UTILITY?  What is it doing that other coins are not doing?  

And.... What is Silkcoin NOT doing that other coins are doing?

- BIP 0021 "URI Scheme" to enable payments by clicking on link or scanning QR code
- BIP 0070 "Payment Protocol" for better communication between merchant & customer

As a web developer in the finance industry, I see these 2 BIPs as vital for any crypto currency that wants to have merchant services built upon it.

Quoted to increase chance of dev notice.
Thanks FredDag.

[vcoinminer0938]

I predict we see sub-1500 tomorrow. Down to mid-triple digits by Friday. Have I been wrong yet? Ask yourself that question - maybe I'm not as crazy as you think I am. Just maybe my perfect 11 for 11 score of calling out scam coins has some merit. I know this will make me 12 for 12 but I can't call it until the price is under 200 satoshis and the dev hasn't logged in for at least 5 days. Then I can check it off the list.

曼佳美是骗子之前说跟我交易的BTC骗了我5个BTC。骗子！骗子！

Megaman you seem to have a chinese fan.
Any idea what he/she is saying?

For the record: I think you are right. The price is going to fluctuate.
If price gets to 1000sats I will buy 1mil SC. Then I will be rich enough to retire if it gets to $1 per SC.
If it gets to 10sats I will buy another 10mil and sit and play with my camel all day. Then sell my car to buy more bitcoin.

I'm very excited to see the wallet update today.
It seems like people are all into wallet included features at the moment. Some are asking for market overview tab in the wallet.
I see that another group is incorporating betting features.

He said "fucking megaman cheat my 5 btc. fucking lier, fucking cheater."  
So, let's click "ignore" on megaman
otherwise, megaman will scam you.

[kalisto]

So you have to ask yourself.  What is Silk coin doing that is creating UTILITY?  What is it doing that other coins are not doing?  

And.... What is Silkcoin NOT doing that other coins are doing?

- BIP 0021 "URI Scheme" to enable payments by clicking on link or scanning QR code
- BIP 0070 "Payment Protocol" for better communication between merchant & customer

As a web developer in the finance industry, I see these 2 BIPs as vital for any crypto currency that wants to have merchant services built upon it.

Quoted to increase chance of dev notice.
Thanks FredDag.

QR is already supported. You can check it on the Send/Receive tab (Show QR)

[Jacqul]

So you have to ask yourself.  What is Silk coin doing that is creating UTILITY?  What is it doing that other coins are not doing?  

And.... What is Silkcoin NOT doing that other coins are doing?

- BIP 0021 "URI Scheme" to enable payments by clicking on link or scanning QR code
- BIP 0070 "Payment Protocol" for better communication between merchant & customer

As a web developer in the finance industry, I see these 2 BIPs as vital for any crypto currency that wants to have merchant services built upon it.

Quoted to increase chance of dev notice.
Thanks FredDag.

Correct me if im wrong but we already have build in QR code support. You can check it on the Send/Receive tab (Show QR)

I am trusting FredDag on this, knows more than I do on the subject!


All I can do is make this picture:
http://postimg.org/image/vooqywy5b/

[kalisto]

So you have to ask yourself.  What is Silk coin doing that is creating UTILITY?  What is it doing that other coins are not doing?  

And.... What is Silkcoin NOT doing that other coins are doing?

- BIP 0021 "URI Scheme" to enable payments by clicking on link or scanning QR code
- BIP 0070 "Payment Protocol" for better communication between merchant & customer

As a web developer in the finance industry, I see these 2 BIPs as vital for any crypto currency that wants to have merchant services built upon it.

Quoted to increase chance of dev notice.
Thanks FredDag.

Correct me if im wrong but we already have build in QR code support. You can check it on the Send/Receive tab (Show QR)

I am trusting FredDag on this, knows more than I do on the subject!


All I can do is make this picture:
http://postimg.org/image/vooqywy5b/

We have everything in place to create a payment URI / QR

[MEGAman]

For the record: I think you are right. The price is going to fluctuate.
If price gets to 1000sats I will buy 1mil SC. Then I will be rich enough to retire if it gets to $1 per SC.
If it gets to 10sats I will buy another 10mil and sit and play with my camel all day.

The price is going to fluctuate in one direction just like I said from the day it hit MintPal: down.
Better get ready to buy your million SC because it will be down to 1000sats by Wednesday. Your dream will come true! Also I think we all know SC will never hit $1 - that's hilarious  
Also funny that you even think $1,000,000 is enough to retire on - have you ever left your house? Everything you say is ridiculous.
Get ready to play with your camel all day - I'd hope most people would have better things to do with their time and money.

[tangyanofwah418]

I predict we see sub-1500 tomorrow. Down to mid-triple digits by Friday. Have I been wrong yet? Ask yourself that question - maybe I'm not as crazy as you think I am. Just maybe my perfect 11 for 11 score of calling out scam coins has some merit. I know this will make me 12 for 12 but I can't call it until the price is under 200 satoshis and the dev hasn't logged in for at least 5 days. Then I can check it off the list.

曼佳美是骗子之前说跟我交易的BTC骗了我5个BTC。骗子！骗子！

Megaman you seem to have a chinese fan.
Any idea what he/she is saying?

For the record: I think you are right. The price is going to fluctuate.
If price gets to 1000sats I will buy 1mil SC. Then I will be rich enough to retire if it gets to $1 per SC.
If it gets to 10sats I will buy another 10mil and sit and play with my camel all day. Then sell my car to buy more bitcoin.

I'm very excited to see the wallet update today.
It seems like people are all into wallet included features at the moment. Some are asking for market overview tab in the wallet.
I see that another group is incorporating betting features.

Any idea about the talking?
waiting for the reponse.

[Jacqul]

For the record: I think you are right. The price is going to fluctuate.
If price gets to 1000sats I will buy 1mil SC. Then I will be rich enough to retire if it gets to $1 per SC.
If it gets to 10sats I will buy another 10mil and sit and play with my camel all day.

The price is going to fluctuate in one direction just like I said from the day it hit MintPal: down.
Better get ready to buy your million SC because it will be down to 1000sats by Wednesday. Your dream will come true! Also I think we all know SC will never hit $1 - that's hilarious  
Also funny that you even think $1,000,000 is enough to retire on - have you ever left your house? Everything you say is ridiculous.
Get ready to play with your camel all day - I'd hope most people would have better things to do with their time and money.

There were once people who said Bitcoin is a fad and will never hit $1. Hang on they are still here. Someone told me that today: "It will surely crash. It is all a scam and you are so stupid for investing in that."

I sincerely hope they and you are wrong. But hell, who knows.

If you get your wish we will carry on in the world the way it is now, which is not that great.
It leads to massive inequality and poverty.
It leads to war and famine.
It leads people to make statements like: 1mil$ is not enough to live on! While most of the people alive live on much much much less than that.

We live in different worlds Megaman. And for different purposes.

[vcoinminer0938]

I predict we see sub-1500 tomorrow. Down to mid-triple digits by Friday. Have I been wrong yet? Ask yourself that question - maybe I'm not as crazy as you think I am. Just maybe my perfect 11 for 11 score of calling out scam coins has some merit. I know this will make me 12 for 12 but I can't call it until the price is under 200 satoshis and the dev hasn't logged in for at least 5 days. Then I can check it off the list.

曼佳美是骗子之前说跟我交易的BTC骗了我5个BTC。骗子！骗子！

Megaman you seem to have a chinese fan.
Any idea what he/she is saying?

For the record: I think you are right. The price is going to fluctuate.
If price gets to 1000sats I will buy 1mil SC. Then I will be rich enough to retire if it gets to $1 per SC.
If it gets to 10sats I will buy another 10mil and sit and play with my camel all day. Then sell my car to buy more bitcoin.

I'm very excited to see the wallet update today.
It seems like people are all into wallet included features at the moment. Some are asking for market overview tab in the wallet.
I see that another group is incorporating betting features.

Any idea about the talking?
waiting for the reponse.

Obvious you don't read the thread, even same page.

This is what I replied (translated) earlier :

He said "fucking megaman cheat my 5 btc. fucking lier, fucking cheater."  
So, let's click "ignore" on megaman Wink
otherwise, megaman will scam you.

[m104323419]

For the record: I think you are right. The price is going to fluctuate.
If price gets to 1000sats I will buy 1mil SC. Then I will be rich enough to retire if it gets to $1 per SC.
If it gets to 10sats I will buy another 10mil and sit and play with my camel all day.

The price is going to fluctuate in one direction just like I said from the day it hit MintPal: down.
Better get ready to buy your million SC because it will be down to 1000sats by Wednesday. Your dream will come true! Also I think we all know SC will never hit $1 - that's hilarious  
Also funny that you even think $1,000,000 is enough to retire on - have you ever left your house? Everything you say is ridiculous.
Get ready to play with your camel all day - I'd hope most people would have better things to do with their time and money.

骗子还钱还我5BTC

[vcoinminer0938]

For the record: I think you are right. The price is going to fluctuate.
If price gets to 1000sats I will buy 1mil SC. Then I will be rich enough to retire if it gets to $1 per SC.
If it gets to 10sats I will buy another 10mil and sit and play with my camel all day.

The price is going to fluctuate in one direction just like I said from the day it hit MintPal: down.
Better get ready to buy your million SC because it will be down to 1000sats by Wednesday. Your dream will come true! Also I think we all know SC will never hit $1 - that's hilarious  
Also funny that you even think $1,000,000 is enough to retire on - have you ever left your house? Everything you say is ridiculous.
Get ready to play with your camel all day - I'd hope most people would have better things to do with their time and money.

骗子还钱还我5BTC

草泥馬的美佳曼.  lol

[BadAss.Sx]

Nice to see that MEGAman has been revealed as a scammer himself. With his blackmail to the dev it is clear this guy is doing all this for one purpose....to scam more people. Be aware.

@m104323419 please give him a negative trust feedback if he stole 5btc from you.

[cryptodevil]

Reasoned discussion and balanced debate within a Bitcointalk thread? Wonders will never cease.

I'd like to make a suggestion, if I may. Solely with regards to the pre-mine issue.

I absolutely agree that people who are committing their time, energy and skills to developing a coin should be rewarded and, when their project is a success, rewarded handsomely. There is, however, the obvious problem of a large stash of SC that could potentially be dumped on the market or, at the very least, end up being cashed in over an extended period until there is little motivation for the coin developers to continue.

It would make most sense for the control of that pre-mine to be given to an independent Escrow and paid out according at a community-agreed rate for each team member, commensurate with the amount of work in any given time-period.

You, as the SC community of investors/speculators should agree a reasonable rate per hour/day/week that would permit the development team to earn an income corresponding to a FIAT equivalent in order to ensure they can commit as much time as possible and pay their bills and living expenses while they work for the coin project.

This would offer an opportunity for the proposed features to be developed as soon as possible, given the nature of the cryptocurrency world not being willing to wait too long for anything.

Incorporated into the regular pay/reward structure, should be team bonuses for project milestones accomplished.

A final bonus for each declared team member should be awarded for when the project has been fully released AND the price of the coin has maintained a predetermined level for a predetermined time in order to demonstrate that it has not been reached artificially. This final reward, to be honest, should most definitely provide for a significant reward for each team member, based on their workload and time committed to the project.

I would, however, recommend part of the pre-mine be allocated for an independent project-manager from outside of this coin's community, who can quality-check the work being done and manage the rollout stages to ensure successful releases.

Oversight is most definitely needed.

Having this coin's project managed by someone who is a respected IT/Crypto professional, would be worth every SC you pay them.

That is how you recover from the quality issues that were evident from the start of this project.



@Megaman: You may have valid points, you may have valid criticisms. What you do not have, however, is any credibility whatsoever because you attempted to profit from this situation by trying to extort money from the dev team. Any possible claim you might make regarding wanting to alert people to what you see as scam indicators are absolutely overshadowed by your actions. Whichever side of the fence people may be on these issue, both sides now see you as an extortionist. What possessed you to do such a thing is beyond me, but at least do the decent thing and learn from this lesson that which you need to not be so foolish in future. You are now shouting at an empty room, you have no audience.

[fat mike]

This thread delivers more gold every day