[ANN][1000 SYNC] Proof of Stake now run by BLOCKCHAIN DEVELOPMENT COMPANY

[MsCollec]

I really like the community it seems majority of the buyers are long term investors which gives me confident that the price will go back up after the PoW.

I think if the multi-pool can focus on newly launched X11 coins that have short PoW and then sell the coins for BTC after they get add to exchange.  It might not be ideal for people that depends on mining revenue.

i think our multi should do exactly as the other multi's do, mine - sell and buy SYNC immediately. this is the only way all of our multi miners will get a fair deal. By staggering the buy orders you are going to get a set of miners getting SYNC at one price, while the next set of miners will have to wait longer to get their SYNC at another price. I don't think that's fair. To make it fair across the board, instant sell, instant buy from the sell walls, should be implemented.

I'm actually pondering leaving my X11's on the direct mining during PoW because of this, i'd rather know/control the amount of SYNC i earn, or at the very least - know that all my mining is buying up SYNC as it mines.

It's all based on trust once the trust has been established. We can all forward as a community without any doubts.

[raskul]

I really like the community it seems majority of the buyers are long term investors which gives me confident that the price will go back up after the PoW.

I think if the multi-pool can focus on newly launched X11 coins that have short PoW and then sell the coins for BTC after they get add to exchange.  It might not be ideal for people that depends on mining revenue.

i think our multi should do exactly as the other multi's do, mine - sell and buy SYNC immediately. this is the only way all of our multi miners will get a fair deal. By staggering the buy orders you are going to get a set of miners getting SYNC at one price, while the next set of miners will have to wait longer to get their SYNC at another price. I don't think that's fair. To make it fair across the board, instant sell, instant buy from the sell walls, should be implemented.

I'm actually pondering leaving my X11's on the direct mining during PoW because of this, i'd rather know/control the amount of SYNC i earn, or at the very least - know that all my mining is buying up SYNC as it mines.

It's all based on trust once the trust has been established. We can all forward as a community without any doubts.

i get that, but i'm talking about delay, and monetary difference to miners. trust can be as solid as you want but it doesn't detract from the facts that some miners will have higher buy orders, than others, and will inevitably need to wait longer for their SYNC. For those interested in the long term benefits, it's also beneficial to have our SYNC in our wallet, ready to stake at the earliest possible opportunity. This is not a trust issue, but a 'he/she got more SYNC from the multipool, than me' issue.

[kopam]

So, did the multipool already buy up and pay the miners ?

[ando0022]

a simple calculation..

multipool usually pays ~0.0035/Mh/Day
the official multipool has around 150Mh
that will be 0.525BTC
which can buy out all sell order in bittrex(it doesn't show all)
or buy up to 0.57 at poloniex.....
buy while it still cheap
after the multipool start to buy, the price should be stand above 0.5 easily
which is a 25% up from the current price(0.4)

why buying sell orders ?
set a buy order at actual Price and wait for other multipool dumps to fill it.
the difference between actual buy and sell orders are sometimes more as 10%
so why help sellers to make Money ?

this is usually good when the coin is dead or not so alive, if the coin has a lot of interest it is better to buy directly the wall

i agree, and also our multi would be better off buying up the sell wall, the entire reason people are mining this multi is because they want SYNC. they don't want to 'gamble' for SYNC, they want to obtain SYNC. I don't think it's a good idea for our multi to be putting buy orders in, this could so easily backfire.

maybe this could be the way if mining is over, but actual you see the multipools (screenshot from another user some sites ago) mining sync and sell them (Price Charts and orderbook say the same). so why dont use that ?

because relying on buy orders is going to lengthen both the time it takes for miners to receive their SYNC and also the time it takes to push up the price.
buying directly on the sell wall will ensure cheap SYNC for a good duration (combatting the other multi's) and then after PoW, it will continue pushing up the price. Otherwise, all you are doing is servicing the other multi's, and not directly competing with them.

do you see what happend at bittrex less minutes ago ? there are some small buys at 0.385.
8 minutes later someone "dumped" 3,7 sync coins immediatly to 0.350 (maybe a multipool or someone from our richlist *g*), so the guy who bought at 0.385 have a loss of 10 % in some minutes .. cause it was payout time for a multipool ... we cant controll the payouts of other multipools.

i like your idea, but lets wait with them until pow is over.
(only my opinion)

ps. i want so much sync coins as i can get.

[Kenta]

So, did the multipool already buy up and pay the miners ?

No, it says in the faq that it will do so only every 48 hours.

[kopam]

So, did the multipool already buy up and pay the miners ?

No, it says in the faq that it will do so only every 48 hours.

Sounds okay, but i guess we need to point a lot more miners at it to see the full power of it.
I did point my miners to it, DID YOU ?

[kindofasaint]

do you see what happend at bittrex less minutes ago ? there are some small buys at 0.385.
8 minutes later someone "dumped" 3,7 sync coins immediatly to 0.350 (maybe a multipool or someone from our richlist *g*), so the guy who bought at 0.385 have a loss of 10 % in some minutes .. cause it was payout time for a multipool ... we cant controll the payouts of other multipools.

i like your idea, but lets wait with them until pow is over.
(only my opinion)

ps. i want so much sync coins as i can get.

We got an awesome investor who just bought everything up to 45 haha, nice, wonder how many syncs that was

[Kenta]

So, did the multipool already buy up and pay the miners ?

No, it says in the faq that it will do so only every 48 hours.

Sounds okay, but i guess we need to point a lot more miners at it to see the full power of it.
I did point my miners to it, DID YOU ?

I did, but every 48 hours is not often enough to have a stabilizing effect on the coin so I have moved my gridseeds back to my LTC / merged mining pool for higher profit under my own control.

[raskul]

do you see what happend at bittrex less minutes ago ? there are some small buys at 0.385.
8 minutes later someone "dumped" 3,7 sync coins immediatly to 0.350 (maybe a multipool or someone from our richlist *g*), so the guy who bought at 0.385 have a loss of 10 % in some minutes .. cause it was payout time for a multipool ... we cant controll the payouts of other multipools.

i like your idea, but lets wait with them until pow is over.
(only my opinion)

ps. i want so much sync coins as i can get.

We got an awesome investor who just bought everything up to 45 haha, Nice, wonder how many syncs that was

now, that's how our multi should work 

[kopam]

So, did the multipool already buy up and pay the miners ?

No, it says in the faq that it will do so only every 48 hours.

Sounds okay, but i guess we need to point a lot more miners at it to see the full power of it.
I did point my miners to it, DID YOU ?

I did, but every 48 hours is not often enough to have a stabilizing effect on the coin so I have moved my gridseeds back to my LTC / merged mining pool for higher profit under my own control.

Well if 48h is bad, should we not just contact the pool and tell them our opinion ?

[raskul]

So, did the multipool already buy up and pay the miners ?

No, it says in the faq that it will do so only every 48 hours.

Sounds okay, but i guess we need to point a lot more miners at it to see the full power of it.
I did point my miners to it, DID YOU ?

I did, but every 48 hours is not often enough to have a stabilizing effect on the coin so I have moved my gridseeds back to my LTC / merged mining pool for higher profit under my own control.

Well if 48h is bad, should we not just contact the pool and tell them our opinion ?

i've been actively pushing for immediate trade. I'm sure we will be heard.

[joe.sixer]

Everything regular is open to manipulation, multipool should use a random buy pattern (in terms of timing) to avoid this. Every 48 hrs is too predictable. May be less relevant for small buys, but larger buys I think it matters.

[johntseng]

So, did the multipool already buy up and pay the miners ?

No, it says in the faq that it will do so only every 48 hours.

Sounds okay, but i guess we need to point a lot more miners at it to see the full power of it.
I did point my miners to it, DID YOU ?

I did, but every 48 hours is not often enough to have a stabilizing effect on the coin so I have moved my gridseeds back to my LTC / merged mining pool for higher profit under my own control.

Well if 48h is bad, should we not just contact the pool and tell them our opinion ?

i've been actively pushing for immediate trade. I'm sure we will be heard.

immediate trade will derive more trade volume as well
which is very important to stabilize the price

[raskul]

Everything regular is open to manipulation, multipool should use a random buy pattern (in terms of timing) to avoid this. Every 48 hrs is too predictable. May be less relevant for small buys, but larger buys I think it matters.

agreed. instant buy ups would make sure the system was not manipulated.

[q327K091]

Official Sync multipool needs SYNC, and will place buy order, not buying SELL orders!
Other multi-pools will need BTC fast, and will sell against buy price to have fast BTC in hand..

This is the reason we have slow payouts, we want to give you the best payouts possible!
Your SYNC multipool will prevent price drops due to this methods!

http://multipoolmining.com, the right way to mine sync!

Please don't change a thing (not even PHP or python web interface), proceed at your discretion and 48 hrs no rush (trust is in place, because you were referred by team leader at SYNC corporation)

and thank you

just make sure power supply provides right amplitude to the server and double check cabling for IP connectivity to establish SYNC buy orders that's all

[kindofasaint]

do you see what happend at bittrex less minutes ago ? there are some small buys at 0.385.
8 minutes later someone "dumped" 3,7 sync coins immediatly to 0.350 (maybe a multipool or someone from our richlist *g*), so the guy who bought at 0.385 have a loss of 10 % in some minutes .. cause it was payout time for a multipool ... we cant controll the payouts of other multipools.

i like your idea, but lets wait with them until pow is over.
(only my opinion)

ps. i want so much sync coins as i can get.

We got an awesome investor who just bought everything up to 45 haha, Nice, wonder how many syncs that was

now, that's how our multi should work 

so that was you? you big whale you! that was a steal.

[raskul]

do you see what happend at bittrex less minutes ago ? there are some small buys at 0.385.
8 minutes later someone "dumped" 3,7 sync coins immediatly to 0.350 (maybe a multipool or someone from our richlist *g*), so the guy who bought at 0.385 have a loss of 10 % in some minutes .. cause it was payout time for a multipool ... we cant controll the payouts of other multipools.

i like your idea, but lets wait with them until pow is over.
(only my opinion)

ps. i want so much sync coins as i can get.

We got an awesome investor who just bought everything up to 45 haha, Nice, wonder how many syncs that was

now, that's how our multi should work 

so that was you? you big whale you! that was a steal.

wasn't me that time mate. i'm usually the last to pump lol

[BEECoinfan]

a simple calculation..

multipool usually pays ~0.0035/Mh/Day
the official multipool has around 150Mh
that will be 0.525BTC
which can buy out all sell order in bittrex(it doesn't show all)
or buy up to 0.57 at poloniex.....
buy while it still cheap
after the multipool start to buy, the price should be stand above 0.5 easily
which is a 25% up from the current price(0.4)

Not sure how others feel about this idea but I think they would be up for it!

What if out of that you added a 1% "fee" that acted as a stabilizer, ex 0.525BTC x 0.01 = 0.00525
0.00525 / 1000 (total number of Sync) = 0.00000525 Sats as the first day floor (If everybody wanted to sell everything after 1st day of POW ending that would be a minimum price)
Next day if it was the same amount of btc was made the order would be bumped up to 0.00001050 and so on and so on to create a rising floor that would forever preserve the value of SYNC.  As it has such a tiny mintage this could be done relatively quickly and would ensure are beloved Sync truly acts as a store of value, benefiting not just the miners but everybody in the community!

[carlo63]

super cheap at bittrex atm...

got some for 0.334 hope this was a good buy

If you wait more you would have bought at even cheaper
It happened to me with many other x11 coins... you think you have made a good deal but you will regret it.
The coin will not raise back up to 0.6 by May 20, 2014 23 pm, I can bet 10 BTC.

[raskul]

super cheap at bittrex atm...

got some for 0.334 hope this was a good buy

If you wait more you would have bought at even cheaper
It happened to me with many other x11 coins... you think you have made a good deal but you will regret it.
The coin will never raise back up to 0.6, I can bet 10 BTC.

i'm happy to do escrow for whoever takes you up on that bet (i would but I don't have 10BTC to gamble with)