[ANN][BLAKE-256] DIRAC (XDQ) - Advanced Finance

[brianbbad]

I was tempted to create a poll, but... how high do you guys think XDQ will go in August?

can u tell me a bit about the poker game as i dont quite understand it

Maybe someone can help me out, but I think this is how it works:

Bryce (the dev) and another crypto trader are buying up as much of the XDQ available as they see fit so as to establish a stabilization fund (ala NAUT), and everyone else is tasked with figuring out what is the highest either of those two are willing to pay for XDQ during the buyback period. The only way to lose would be (for example) if you bought some at 0.003 BTC but it turned out the most they were willing to pay for your XDQ was 0.0025 BTC each; but even then, it wouldn't be a loss if you think XDQ has a future and that demand for it will increase.

Again, I don't necessarily know what I'm talking about, so others are welcome to correct me.

[Tecem]

I'm not sure if I'm gonna sell.. on the poker game. What will happan after the poker game? I'm sure Bryce got something comming up he isnt just gonna throw 5 grant in a coin and buy the coins for a price if he knows something bigger will come or the price will increase. Not sure what he will do after though. Maybe XDQ will be the key coin for all Blocktech coins as stabilization fund or something. He said Dirac is a coin you "store" wealth in.

[nutildah]

Bryce (the dev) and another crypto trader are buying up as much of the XDQ available as they see fit so as to establish a stabilization fund (ala NAUT),

Why would a dev buy up his own coin? You don't think he has most of it still?

I really don't think the Weinermaster is going to do anything that potentially costs him money.

[brianbbad]

Bryce (the dev) and another crypto trader are buying up as much of the XDQ available as they see fit so as to establish a stabilization fund (ala NAUT),

Why would a dev buy up his own coin? You don't think he has most of it still?

I really don't think the Weinermaster is going to do anything that potentially costs him money.

I believe the point was to buy up his own coin *instead of* doing a huge premine. NAUT was able to get away with a 1% premine for its stabilization fund because 1% is relatively small amount. Bryce wanted a bigger stab. fund but knew that a huge premine would be considered unacceptable. Again, others are welcome to elaborate or correct me if I'm missing something.

[nutildah]

I believe the point was to buy up his own coin *instead of* doing a huge premine. NAUT was able to get away with a 1% premine for its stabilization fund because 1% is relatively small amount.

Hmm.. It just doesn't make sense to me that a dev would spend money on his coin in such a fashion unless there was some sort of guaranteed reward involved.

I did read this part, from GitHub:

Dirac will be traded in an exclusive currency pairing against NautilusCoin (NAUT market) on AllCrypt. Between 90 and 100 days after launch, the market will be gradually purchased at fair market value for 25,000NAUT over a period of 30 days, backing the currency network and fixing the price at that moment at roughly 0.07NAUT.

So... He's buying up 25,000 NAUT worth of dirac (on allcrypt I take it). That's only 4.2 BTC.. There's currently 9.1 BTC worth XDQ for sale on Bittrex. How can he fix the price at roughly 0.07 NAUT? Its 3.8 XDQ to 1 NAUT right now.

Free-market managed economic stability is a concept introduced by NautilusCoin and then enhanced by Dirac.

I find this to be a little bit confusing. There's no such thing as "free-market managed economic stability"; its a contradiction of terms. The two contradictory words are right next to each other: "free-market" and "managed." If he (or Brian Kelly) is inferring that the free market manages stability on its own, well I'd refer him to the Great Depression and every other market collapse that has ever occurred.

If he is inferring that the free market manages the stability of dirac, well, I'd say that's obviously not true if he is going to be directly guiding the price.

[brianbbad]

For a better understanding, I would strongly recommend listening to the David Seaman Hour episode where he interviews Bryce about Dirac.

Basically, yes, the price is determined by the free market; increased demand will raise the relative value of XDQ. However, by actively buying/selling via stab funds he can keep the price from fluctuating too much on a given day or week.

Also (and I'm not sure why github hasn't been updated yet) but Bryce later went on to revise that info by saying that *pegging* the price wouldn't be possible as such, but he can establish a *minimum* value based on number of coins that have been created; you'll notice the price hasn't (and likely won't) drop below 0.07 Naut.

The plan is sound, the only thing one need worry about is: will Bryce deliver? Obviously Bryce Weiner and Brian Kelly wouldn't risk their reputations and money on economic strategies that were fundamentally flawed. These are not dumb individuals.

[nutildah]

For a better understanding, I would strongly recommend listening to the David Seaman Hour episode where he interviews Bryce about Dirac.

Basically, yes, the price is determined by the free market; increased demand will raise the relative value of XDQ. However, by actively buying/selling via stab funds he can keep the price from fluctuating too much on a given day or week.

OK, so the price is determined by Bryce and not the free market.

Obviously Bryce Weiner and Brian Kelly wouldn't risk their reputations and money on economic strategies that were fundamentally flawed.

What reputations? Their reputations are both bad amongst the majority of the forum and the community.

These are not dumb individuals.

That's your opinion.

[Farndogg]

I see we are traded against BC on Bittrex now.

[demoniality]

What reputations? Their reputations are both bad amongst the majority of the forum and the community.

Simply not true. Please don't try and project your own emotionally compromised opinions on the wider community.

[nutildah]

What reputations? Their reputations are both bad amongst the majority of the forum and the community.

Simply not true. Please don't try and project your own emotionally compromised opinions on the wider community.

Bryce is an even bigger crook because he is a professional pump & dumper posing as a crypto guru.

Well I have an axe to grind with Bryce Weiner but i'm not posting on his twitter wall 24/7 or invading his coin threads 24/7 either, that is just mental.

From the bitcointalk ANN:

Max Coins: 2,000,000 (2 Million) Block reward: 100 Halving: every 10,000 blocks
In the code it has 2bn coins and the block halving resets every once back the beginning.
PROOF (if they take it down, look at one of the forks)

From https://github.com/razor-coin/razor
main.h:-

Code:

static const int64 MAX_MONEY = 2000000000 * COIN;

main.cpp:-

Code:

    int64 static GetBlockValue(int nHeight, int64 nFees) { int64 nSubsidy = 100 * COIN; 
    int64 nSubsidyHalvingInterval = 10000;
    int halvings = nHeight / nSubsidyHalvingInterval;
    nSubsidy >>= halvings;

    return nSubsidy + nFees;
}

Explanation: reward starts at 100 coins per block. after 10000 blocks, cut the current reward in half using bitshifting. Bit bit shifts wrap around so when it run out of bits resets to the beginning and so rewards go back to 100 coins per block. And because MAX_MONEY is set to 2bn and not 2m razorcoin will continue to mine more coins over and over again.

This is not a mistake because if you look at the source history, the coin is a fork from neutrinocoin and you can specifically see the code changes made here https://github.com/razor-coin/razor/commit/82ed7cd0dc91d7044fef864e29bc2cac8b484065 (again look at a fork if they take this down).
Bryce Weiner is behind the con http://whois.domaintools.com/razorco.in if he changes it you can see from the (whois history) and appears in the list of "achievements" at blocktech.com which seems to be a front.

STAY AWAY, this is a deliberate scam claiming scarcity and yet clever hiding a scam in the code.

And Brian Kelly made his living being a hedge fund manager on Wall Street.

What more do you need to know?

[brianbbad]

I know this isn't rzr thread, but... has Bryce and/or Blocktech responded to that claim about rzr's code?

[defcoin]

XDQ Profits ~~~~~~~~~~> $naut

[Farndogg]

Less than 100 blocks left. Approx 5 hours

[forzendiablo]

Less than 100 blocks left. Approx 5 hours

to what?!

[kiwisheep]

Block rewards going from 8 to 1.25   for the next few hours

[nicred]

its official, XDQ halved.

[brianbbad]

I know this isn't rzr thread, but... has Bryce and/or Blocktech responded to that claim about rzr's code?

MaxMoney is not the maximum coin total. This has been repeatedly explained regarding other coins and is just FUD.

Thanks. I suspected as much. I'm really digging everything Blocktech is up to. They might end up with their own chapter in future economics textbooks.

[Farndogg]

I'm looking forward to seeing what altmarket and blocktechfin is all about.

[kingscrown]

its official, XDQ halved.

yet price dropped

[nicred]

was hoping for a spike....