MadGhost
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★777Coin.com★ Fun BTC Casino!
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February 17, 2015, 04:05:44 PM |
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Mining became 2x more hard  Community grows, dumpers have less coins to dump  Now its only for the professionals. |
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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Penn.3D
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February 17, 2015, 04:46:19 PM |
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I love the idea of this coin. 2 questions:
1. Once a shitcoin is voted to be destroyed by coinshield, what happens if not enough of said shitcoin is donated to the coinshield project? In other words, how can we crash a coin if only a tiny amount of that coin is donated by coinshield members?
2. If a coin gets wind that they are about to be destroyed by coinshield, wouldn't holders begin selling their coins before coinshield, which means of course that by the time coinshield tries to crash the coin, the price will already be so low that there will not be many BTC to be absorbed by coinshield.
Thank you!! (And my apologies if these questions were asked before as they almost certainly were)
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yampi
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February 17, 2015, 05:05:14 PM |
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You just make sure the bagholders see more value in CSD than BTC they make by selling the shitcoins.
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Penn.3D
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February 17, 2015, 05:37:13 PM |
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I am certain that the dev has put time and thought into these question so I am really anxious to hear what the solutions are. Those two questions are the only things keeping me from investing. Thank you in advance!
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tokyopotato
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Activity: 812
Merit: 1000
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February 17, 2015, 06:50:58 PM |
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I love the idea of this coin. 2 questions:
1. Once a shitcoin is voted to be destroyed by coinshield, what happens if not enough of said shitcoin is donated to the coinshield project? In other words, how can we crash a coin if only a tiny amount of that coin is donated by coinshield members?
2. If a coin gets wind that they are about to be destroyed by coinshield, wouldn't holders begin selling their coins before coinshield, which means of course that by the time coinshield tries to crash the coin, the price will already be so low that there will not be many BTC to be absorbed by coinshield.
1. Once a coin is deemed scam/clone and has been voted to be destroyed, the first people to send coins get the most trade-in value of CSD. So, at that point, once scam/clone coin investors realize there is nothing they can do, they might as well trade-in all their coins or dump them 2. So, then CoinShield has accomplished it's goal of destroying the scam/clone coin - effectively reducing the impact that scam/clone coins have in the market and giving CoinShield a victory Furthermore, the trade-in channel is only one feature of CoinShield that will be implemented. Most questions that people have are answered in detail in the white-paper which is being reviewed by myself and approx. 5 other community members right now. When this is released, you will then understand the complete and long-term goals of CoinShield.  |
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Penn.3D
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February 17, 2015, 07:37:03 PM |
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Thanks a lot for the reply Tokyopotato. What happens if only a tiny amount of coins get turned in? Let's say coinshield holders vote to destroy a shitcoin with 100 million coins and then coinshield members turn in 1 million coins in exchange for the coinshield coins. If those 1 millions shitcoins were subsequently dumped onto the shitcoin buy walls, it would lower the price... but not by much, and it certainly wouldn't kill the coin. What happens then?
Don't get me wrong, I bought some shield coins so I am not FUDDING by any means, just seeking answers. In fact I read about 30 pages of this thread and I have to say the dev is one of the most impressive devs I have ever seen.
Looking forward to the white paper for this coin
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tokyopotato
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Merit: 1000
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February 17, 2015, 07:53:32 PM
Last edit: February 17, 2015, 08:18:45 PM by tokyopotato |
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Thanks a lot for the reply Tokyopotato. What happens if only a tiny amount of coins get turned in? Let's say coinshield holders vote to destroy a shitcoin with 100 million coins and then coinshield members turn in 1 million coins in exchange for the coinshield coins. If those 1 millions shitcoins were subsequently dumped onto the shitcoin buy walls, it would lower the price... but not by much, and it certainly wouldn't kill the coin. What happens then?
Well, the goal is to drive the price down as low as possible, and give people a way to get some money out of the scam/clone coins. The first handful of people to send coins in will actually profit. The trade-in algorithm looks at exchange prices and determines an exchange rate. Once the value of the scam/clone coin drops very low, the exchange rate will simply not be as good. At that point, the value of the coin will be so low that it won't matter if 99 million coins are still out there. They will be 99 million coins of worthlessness. So, once the coin begins to dump, anyone foolish enough to buy the price back up will be essentially making it profitable to do the trade-in again. This is a good question, and one that Videlicet or KryptoKash might be able to answer better. Don't get me wrong, I bought some shield coins so I am not FUDDING by any means, just seeking answers. In fact I read about 30 pages of this thread and I have to say the dev is one of the most impressive devs I have ever seen.
Looking forward to the white paper for this coin
The white-paper is ~35 pages. I don't know the ETA for when Viz will release it publicly. I've reviewed almost all of it and I think it is ready for public consumption. I have not found any faults with it other than a typo, as it's written very professionally. Releasing it publicly will help to answer many questions and also give Videlicet more feedback on it. I would expect there will be revisions to it down the road as the project progresses. |
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Penn.3D
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February 17, 2015, 08:26:43 PM |
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One more question...
When is Coinshield planning to get the show on the road (meaning destroy it's first shitcoin)?
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tokyopotato
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February 17, 2015, 09:01:48 PM |
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One more question...
When is Coinshield planning to get the show on the road (meaning destroy it's first shitcoin)?
Petitions have already started: http://coinshieldtalk.org/forum/coin-shield-talk/shitcoin-petitionsI would estimate that 30-60 days from now the first scamcoin will be lined up at the guillotine... hopefully sooner with more people's help. |
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go6ooo1212
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quarkchain.io
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February 17, 2015, 09:09:24 PM |
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That seems very nice, I coud point some examples there too |
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tokyopotato
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Merit: 1000
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February 18, 2015, 01:16:48 AM |
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Mining became 2x more hard Community grows, dumpers have less coins to dump Now its only for the professionals. Never too many miners  |
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0x6A
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February 18, 2015, 06:53:31 AM |
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Mining became 2x more hard Community grows, dumpers have less coins to dump Now its only for the professionals. Never too many miners We need to pump up to 1,5k satoshi. Till than mining is not profitable=(( |
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KryptoKash (OP)
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Activity: 511
Merit: 275
Bitcoin Interest.
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February 18, 2015, 08:45:30 AM |
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Mining became 2x more hard Community grows, dumpers have less coins to dump Now its only for the professionals. Never too many miners We need to pump up to 1,5k satoshi. Till than mining is not profitable=(( When it gets to 1.5k satoshi's more miners will jump on and difficulty will rise and it will once again be unprofitable.... I think you should mine all you can afford to and hold it until it is worth a lot more then 1.5k sats Value will rise as we progress. |
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macorcina
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February 18, 2015, 02:08:00 PM |
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Difficulty its 70.926524 so high, at this price is absolutely unprofitable for minig,
can anyone who mining could says hasrate and 24hour coins reward at this hashrate ?
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Videlicet
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Creator of Nexus http://nexus.io
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February 18, 2015, 03:53:17 PM
Last edit: February 18, 2015, 04:28:40 PM by Videlicet |
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Digital Recyclers Capitalization Activation
So everybody knows, we must maintain a strong market capitalization to absorb these coins. Since the decay equations will supply roughly ~30% of currency to the Digital Recyclers, this means that 30% of our market cap should be larger than the coin to be absorbed. This is to ensure the growing value in CSD, and the continued replenishment of the recyclers.
Part of this Recycling system is designed to allow users the choice at to the rate of their automated sales, which will influence the corresponding market liquidity. Coin Shield condones nothing more than the choice of users, which is why liquidity effect can be determined by users. This is because some users will wish to crash the corresponding economy, and some users would just like to get rid of the false asset they are holding.
This will be instrumental - for us to encapsulate the largest perspective of opinions and desires - this will make such a system the most usable.
Now to the Capitalization Activation, coins with much smaller market caps such as new launches, etc. will be most vulnerable to petitions and recyclers, where coins that have manipulated the market for an extended time will take more time for the opinions to reach veracity of the objective reality.
Now, with developers and their lovely pre-mines, I have been designing a sort of blockchain tracer in my head that I am considering implementing into the Recyclers, as to where coins sent rooting from a pre-mine block will be rejected, remove a developer's ability to pre-mine a coin and try to make it profitable. This would be instrumental in absorbing of XPY if this was chosen by the community, as they have a significant market squeeze that is fueled by the pre-mine, where if this could be filtered out, we can greatly increase the Capitalization Activating by eliminating the coins that are used for the market squeeze aiming to recycle the coins that users mined or staked.
Last purpose of the Digital Recyclers is to give users a slight compensation for their losses, to help restore their morale in digital currencies, and show many users that it is possible for environments to be developed that incubate knowledge, rather than exploiting ignorance. Creating this platform will provide the much needed safety in the industry to stimulate more wealth and understanding among its users.
Thank You,
Viz.
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[ Nexus] Created by Viz. [ Videlicet] : "videre licet - it may be seen; evidently; clearly" |
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Youghoor
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February 18, 2015, 04:23:39 PM |
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Difficulty its 70.926524 so high, at this price is absolutely unprofitable for minig,
can anyone who mining could says hasrate and 24hour coins reward at this hashrate ?
If its not profitable to mine then there is no logic in running for it. |
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Videlicet
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Merit: 1058
Creator of Nexus http://nexus.io
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February 18, 2015, 04:32:58 PM |
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Difficulty its 70.926524 so high, at this price is absolutely unprofitable for minig,
can anyone who mining could says hasrate and 24hour coins reward at this hashrate ?
If its not profitable to mine then there is no logic in running for it. You forget profitability is not always determined by the current circumstances, as the asset is really worth what price you choose to liquidate it at, which would be determined by when the sale is made. Right now, the price doesn't warrant liquidation, but at a higher premium, mining is quite profitable, which means that to mine now until this point of premium is more profitable than to liquidate at this price or wait until the higher premium. This is most likely what is driving the difficulty up right now, as most are mining as a future investment rather than instantaneous profitability. Thank You,Viz. |
[ Nexus] Created by Viz. [ Videlicet] : "videre licet - it may be seen; evidently; clearly" |
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macorcina
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February 18, 2015, 05:46:24 PM |
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Difficulty its 70.926524 so high, at this price is absolutely unprofitable for minig,
can anyone who mining could says hasrate and 24hour coins reward at this hashrate ?
If its not profitable to mine then there is no logic in running for it. lot of copy/paste coins without block explorer, site, maintain price of 600- 1000 sat. and CSD is only around 600 sat. at this point and this diff, that is very cheap. |
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