[ANN][ELT] Electron, Blake-256 coin, merged mined

[Soul_eater_123]

Yes it's not worth it if the developer is clueless about PR and/ moving the coin forwards.  There are 101 coins that have that and more - yet they are still floundering.

[electron-coin]

@CrowdWhale, thanks for posting a reply and some of the information behind electron.

I can certainly see why people would be concerned about the price drop. The price is determined by market forces and there are lots of market forces in play. I will continue to focus on expanding adoption and utility of electron.  In terms of marketing,  there is an ongoing giveaway on cryptocointalk.com.  Also, a couple of people have agreed to help promote the coin for donations.  Unfortunately, there was no premine (as is with all merged mined blake coins (so the speed of development will have to go as resources are avaliable.  If you can help, please consider donating to the development fund. The address is in the op.

[Soul_eater_123]

This is why I support premines. But this one doesn't have one, so it's up to investors who seem to hate premines. Sometimes you get what you ask for! Boo! I mean, Yay!

Dev: Could you explain your reasoning behind the large MAXCOINS value? I understand you probably want the coin to grow with use far into the future, but technology will change enough over the next 1300 years that I see this max value as detrimental to the perceived value of the coin. You would instantly create more interest if you were to bring the max more in line with the block reward.

Just my opinion, but perhaps you have a reason I haven't thought of.

Also there will be 10 million coins in the first year, then 5 million per year after that until we get to 8 billion.  I just think that is flooding the market with too many.  Psychologically it will put people off investing particularly if you consider that there are less than a million at the moment.

[aliser]

What is the problem on my system ?

~/Electron-ELT/src# make -f makefile.unix USE_UPNP=1 USE_QRCODE=1 USE_IPV6=1
Building LevelDB ...
/bin/sh: 1: ./build_detect_platform: Permission denied
make[1]: Entering directory `/root/Electron-ELT/src/leveldb'
Makefile:18: build_config.mk: No such file or directory
make[1]: *** No rule to make target `build_config.mk'.  Stop.
make[1]: Leaving directory `/root/Electron-ELT/src/leveldb'
make: *** [leveldb/libleveldb.a] Error 2

[Soul_eater_123]

a) 7 Billion, not 8 Billion.

b) Why do you care how many coins there will be in 1331 years when the coin will likely no longer exist (and neither will Bitcoin)?

c) The block reward is what matters. That's the rate of supply growth. 28,800/Day is a very small growth rate in comparison to the vast majority of cryptos.

It would be incredibly cheap to buy every coin in existence right now. I personally have a minimum value stored in my head, which I won't share, and if the price hits that level I will buy until there's nothing left to buy. The math says this coin is already a steal. The only reason I'm not buying right now is because I have the market share I want and because there's still a chance I can get them cheaper. People look at the max coins and don't see the whole picture. Max coins in a thousand plus years is MEANINGLESS.

That said, I do plan to bug our good dev here about the issue. Since max coins is so meaningless I see no reason to have it set there. Besides... how do you even have a "max coins" if it's proof of work? You can't.

It's the block reward that matters.

I'm sorry but I fully intend to be here in 1000 years +

Actually the problem is the coins aren't produced as slowly as you think it's roughly 10 million in the first year and then 5 million every year after that.  So after 5 years there will be 30 million.  Also the 7 billion (not 8 my mistake) is more a psychological issue.

[Soul_eater_123]

Just for kicks let's put the price at 10,000 sats.

• 1 BTC = 10,000 ELT
• 700,000 ELT = 70 BTC = $42,000
• 28,800 ELT/Day = 2.88 BTC/Day During 1st Year
• 14,400 ELT/Day = 1.44 BTC/Day After 1st Year

Year 1 Market Cap @ 10,000 sats = 70 BTC + 2.88 BTC/Day = 1051.2 BTC = $630,720

Do you think this is sustainable?

Market Cap at 1 Year
0.00010000 BTC/ELT = $630,720
0.00100000 BTC/ELT = $6,307,200
0.00500000 BTC/ELT = $31,536,000

I think it is.

If only it worked that way but the absolute numbers do have a psychological impact.  Doge is a good example of how large amounts of coins reduce perceived value in people's minds.  A more extreme example would be XXL coin.

[ocminer]

What is the problem on my system ?

~/Electron-ELT/src# make -f makefile.unix USE_UPNP=1 USE_QRCODE=1 USE_IPV6=1
Building LevelDB ...
/bin/sh: 1: ./build_detect_platform: Permission denied
make[1]: Entering directory `/root/Electron-ELT/src/leveldb'
Makefile:18: build_config.mk: No such file or directory
make[1]: *** No rule to make target `build_config.mk'.  Stop.
make[1]: Leaving directory `/root/Electron-ELT/src/leveldb'
make: *** [leveldb/libleveldb.a] Error 2

chmod +x leveldb/build_detect_platform

before you build

[electron-coin]

Thanks for the math guys.  The max number was unchanged from blakecoin.  I personally would be happy to live another 50 years, and would be delighted if Electron is still relevant, in its current form, in another 20 years. I completely agree that the max value has psychological value but feels that it is almost irrelevant.  I think the math that matters, as has been correctly pointed out, is the number of coins actually minted.  I believe value is going to fluctuate since there are lots of coins being produced right now relative to available supply.  This will certainly slow down.  Electron was only released on 5/25. Hmm, 22 days old, if my math is correct   I personally have a preset price in my head as well.  I have no problem with the math being the way it is.  I think it rewards the careful investor who actually did the math.  Wouldn't you agree?

[Soul_eater_123]

Are you trolling me?

It looks like you are trolling me.  The statement of market values for different numbers of coins completely misses my point.  Also at no point did you state the number of coins explicitly.  You just calculated the valuations based on a theoretical value of 10K sats (which may have required those values but I wasn't going to go through your calculations to check).  

All your post was saying in essence was - here is a list of theoretical calculations of value - and they seem OK.  I did not realise that your definition of acceptable numbers of coins and mine are quite different.  

I don't think 30 million coins in 5 years is a small number or indeed slow growth.

If the number of coins/production is an issue for me you can be pretty certain it will be an issue for others.

[retnods]

Pls apply Electron to list add Poloniex 

Thanks

[monalia]

Hi, Electron Dev.
How are you?
Spirit for you. Go the moon!!
I hope Electron can return the coin to the top market position in Bittrex.
Also I hope you can apply your coin on Poloniex.
Good Luck !! Good job!!
Thank you

[CrowdWhale]

There are a number of investors expressing an interest in a hard fork which maintains the blockchain. I don't see anything really happening with development and while the dev seems like a nice enough guy there are real investments which need to be protected.

Thoughts?

[electron-coin]

Hi, Electron Dev.
How are you?
Spirit for you. Go the moon!!
I hope Electron can return the coin to the top market position in Bittrex.
Also I hope you can apply your coin on Poloniex.
Good Luck !! Good job!!
Thank you

Thanks for the encouragement.  Poloniex is next up on exchanges to pursue.  There will be a voting drive, please stay tuned.

[electron-coin]

I just download the .qt
maybe it would be great if there is a medium ELT logo below available balance on "overview" tab.  because most of qt look so similar.

Got it, will look into it

[electron-coin]

There are a number of investors expressing an interest in a hard fork which maintains the blockchain. I don't see anything really happening with development and while the dev seems like a nice enough guy there are real investments which need to be protected.

Thoughts?

I am 100% against a hard fork at this time. I don't see any reason for it. If someone wants to fork the coin, please remove any logos, graphics, names, that resemble Electron.  I certainly will not support it. My plan is to develop over the first year while the blockchain and user base mature.  I am prepared to buy all the coins that are mined in the first year, if that's what people want, as in sell their coins to me.

[CrowdWhale]

You can't buy them all at the price they would be worth if this project were advancing at a reasonable pace. Why start a public/final blockchain and put it on several exchanges if your development timeline is a year out?

[BitCoinDream]

I must appreciate that u have chosen a good name (Electron) that would attract physicists.

[electron-coin]

I must appreciate that u have chosen a good name (Electron) that would attract physicists.

Thanks, me too. It started as a play on the other coin in the family (photon).  It is meant to convey speed too. On the physics side of thing, is photon faster thank electron? 

[rumpey]

Particle and molecule have already been done, so I suppose that limited your choice a bit. I like electron.

[electron-coin]

Particle and molecule have already been done, so I suppose that limited your choice a bit. I like electron.

Yeah, I guess so.  Hopefully Electron will stick...