ocminer
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July 24, 2014, 07:20:47 PM |
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I really, really wonder why this coin is not successing.. Mining was great, Devs plans were good, no chinese stuff.. Its just a flat line on Bittrex.. since it came there..
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Soul_eater_123
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July 24, 2014, 07:31:35 PM |
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You definitely need permission for that. Or air traffic is not safe. Planes could hit it and that won't be good. I don't know the laws for other countries but I think it would be common most places.
You're probably right but I doubt the necessary permission is hard to get as lots of people have done it.
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dennemann
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July 24, 2014, 07:33:50 PM |
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I really, really wonder why this coin is not successing.. Mining was great, Devs plans were good, no chinese stuff.. Its just a flat line on Bittrex.. since it came there..
When we get some new features and more press releases it will eventually turn heads. The altcoin market is big. But as long as we keep being persistent we will make it. So far I think we have done good. I don't focus to much on the price but more on what we want done with the coin
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Soul_eater_123
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July 24, 2014, 08:04:30 PM |
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I really, really wonder why this coin is not successing.. Mining was great, Devs plans were good, no chinese stuff.. Its just a flat line on Bittrex.. since it came there..
Someone has been messing around with the prices since it appeared on Bittrex. Lots of bot type activity too. Whenever the price goes up someone puts in tiny sell orders at way below everyone else - sometimes 50 or a 100 sats lower which at current price levels is a massive percentage reduction. Since the official price on Bittrex is the last selling price (irrespective of quantity or volume) this gives a falsely low price which is then aggregated by all the coin pricing sites. This leads to the "official" Britcoin price being much lower than the average selling price, giving people a false impression and leading people without patience to panic sell at even lower prices. The person accumulating then hoovers these coins up at much lower than market rates (like a whale swallowing plankton). They save a huge amount overall at the cost of selling a tiny amount of their Britcoins (and even then these are usually at a higher rate than the ensuing panic sells). Done enough this can create it's own downward price momentum which results in a general downward price trend. The whales just sit back and wait for the panic sellers to feed them the coins that they want. It's normally someone with big pockets (whale) who can afford to wait a very long time. When they decide they have had enough they have the resources to put momentum back into the market by selling large amounts of coins back to themselves as they normally have tens of BTC sitting around (unlike the average person). This is enough to create a real buzz and bring the coin back to the community spotlight and get the price moving upwards again - this is a PUMP. When it has moved up in price enough, they sell all of their coins off - this is the peak price, where inexperienced people hear about the coin's success and buy in. The big whale selling off their coins during a predefined "peak" level is the DUMP. This starts off a price fall which people panic sell into and the whole cycle can repeat again. Often times the whale will re-accumulate at the "trough" or bottom of the panic selling phase before (after some time) starting the process again with another PUMP once the market has forgotten about the previous cycle sufficiently and/there is some good news on the horizon. This happens with nearly every coin and will continue to happen until there is more mainstream adoption. It's currently happening a with Britcoin and we are in the phase where one or more whales are slowly accumulating. You can test it by waiting to see these tiny sell orders popping up and buying them when they do. No matter how often you buy them up after a short time they will return, indicating that someone has a bot working to specifically work on lowering the price. If they genuinely wanted to sell their coins they wouldn't break them down into tiny trades and sell them at below all the other prices, since in effect they are reducing the money they make. Sometimes genuine people will break up their trades so as not to cause a downward trend in price, but in those cases the aim is to sell at a higher price and maintain it (not lower it). A lower price only benefits someone who is buying.
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dennemann
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July 24, 2014, 08:16:18 PM |
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I really, really wonder why this coin is not successing.. Mining was great, Devs plans were good, no chinese stuff.. Its just a flat line on Bittrex.. since it came there..
Someone has been messing around with the prices since it appeared on Bittrex. Lots of bot type activity too. Whenever the price goes up someone puts in tiny sell orders at way below everyone else - sometimes 50 or a 100 sats lower which at current price levels is a massive percentage reduction. Since the official price on Bittrex is the last selling price (irrespective of quantity or volume) this gives a falsely low price which is then aggregated by all the coin pricing sites. This leads to the "official" Britcoin price being much lower than the average selling price, giving people a false impression and leading people without patience to panic sell at even lower prices. The person accumulating then hoovers these coins up at much lower than market rates (like a whale swallowing plankton). They save a huge amount overall at the cost of selling a tiny amount of their Britcoins (and even then these are usually at a higher rate than the ensuing panic sells). Done enough this can create it's own downward price momentum which results in a general downward price trend. The whales just sit back and wait for the panic sellers to feed them the coins that they want. It's normally someone with big pockets (whale) who can afford to wait a very long time. When they decide they have had enough they have the resources to put momentum back into the market by selling large amounts of coins back to themselves as they normally have tens of BTC sitting around (unlike the average person). This is enough to create a real buzz and bring the coin back to the community spotlight and get the price moving upwards again - this is a PUMP. When it has moved up in price enough, they sell all of their coins off - this is the peak price, where inexperienced people hear about the coin's success and buy in. The big whale selling off their coins during a predefined "peak" level is the DUMP. This starts off a price fall which people panic sell into and the whole cycle can repeat again. Often times the whale will re-accumulate at the "trough" or bottom of the panic selling phase before (after some time) starting the process again with another PUMP once the market has forgotten about the previous cycle sufficiently and/there is some good news on the horizon. This happens with nearly every coin and will continue to happen until there is more mainstream adoption. It's currently happening a with Britcoin and we are in the phase where one or more whales are slowly accumulating. You can test it by waiting to see these tiny sell orders popping up and buying them when they do. No matter how often you buy them up after a short time they will return, indicating that someone has a bot working to specifically work on lowering the price. If they genuinely wanted to sell their coins they wouldn't break them down into tiny trades and sell them at below all the other prices, since in effect they are reducing the money they make. Sometimes genuine people will break up their trades so as not to cause a downward trend in price, but in those cases the aim is to sell at a higher price and maintain it (not lower it). A lower price only benefits someone who is buying. Great breakdown, thanks
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ocminer
Legendary
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Activity: 2688
Merit: 1240
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July 24, 2014, 08:20:48 PM |
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I really, really wonder why this coin is not successing.. Mining was great, Devs plans were good, no chinese stuff.. Its just a flat line on Bittrex.. since it came there..
Someone has been messing around with the prices since it appeared on Bittrex. Lots of bot type activity too. Whenever the price goes up someone puts in tiny sell orders at way below everyone else - sometimes 50 or a 100 sats lower which at current price levels is a massive percentage reduction. Since the official price on Bittrex is the last selling price (irrespective of quantity or volume) this gives a falsely low price which is then aggregated by all the coin pricing sites. This leads to the "official" Britcoin price being much lower than the average selling price, giving people a false impression and leading people without patience to panic sell at even lower prices. The person accumulating then hoovers these coins up at much lower than market rates (like a whale swallowing plankton). They save a huge amount overall at the cost of selling a tiny amount of their Britcoins (and even then these are usually at a higher rate than the ensuing panic sells). Done enough this can create it's own downward price momentum which results in a general downward price trend. The whales just sit back and wait for the panic sellers to feed them the coins that they want. It's normally someone with big pockets (whale) who can afford to wait a very long time. When they decide they have had enough they have the resources to put momentum back into the market by selling large amounts of coins back to themselves as they normally have tens of BTC sitting around (unlike the average person). This is enough to create a real buzz and bring the coin back to the community spotlight and get the price moving upwards again - this is a PUMP. When it has moved up in price enough, they sell all of their coins off - this is the peak price, where inexperienced people hear about the coin's success and buy in. The big whale selling off their coins during a predefined "peak" level is the DUMP. This starts off a price fall which people panic sell into and the whole cycle can repeat again. Often times the whale will re-accumulate at the "trough" or bottom of the panic selling phase before (after some time) starting the process again with another PUMP once the market has forgotten about the previous cycle sufficiently and/there is some good news on the horizon. This happens with nearly every coin and will continue to happen until there is more mainstream adoption. It's currently happening a with Britcoin and we are in the phase where one or more whales are slowly accumulating. You can test it by waiting to see these tiny sell orders popping up and buying them when they do. No matter how often you buy them up after a short time they will return, indicating that someone has a bot working to specifically work on lowering the price. If they genuinely wanted to sell their coins they wouldn't break them down into tiny trades and sell them at below all the other prices, since in effect they are reducing the money they make. Sometimes genuine people will break up their trades so as not to cause a downward trend in price, but in those cases the aim is to sell at a higher price and maintain it (not lower it). A lower price only benefits someone who is buying. Very nice writeup, thanks, you have my respect ! Where do you get this bots ? I'd like to have a look at them
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suprnova pools - reliable mining pools - #suprnova on freenet https://www.suprnova.cc - FOLLOW us @ Twitter ! twitter.com/SuprnovaPools
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Rage19420
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July 24, 2014, 08:23:25 PM |
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I really, really wonder why this coin is not successing.. Mining was great, Devs plans were good, no chinese stuff.. Its just a flat line on Bittrex.. since it came there..
Someone has been messing around with the prices since it appeared on Bittrex. Lots of bot type activity too. Whenever the price goes up someone puts in tiny sell orders at way below everyone else - sometimes 50 or a 100 sats lower which at current price levels is a massive percentage reduction. Since the official price on Bittrex is the last selling price (irrespective of quantity or volume) this gives a falsely low price which is then aggregated by all the coin pricing sites. This leads to the "official" Britcoin price being much lower than the average selling price, giving people a false impression and leading people without patience to panic sell at even lower prices. The person accumulating then hoovers these coins up at much lower than market rates (like a whale swallowing plankton). They save a huge amount overall at the cost of selling a tiny amount of their Britcoins (and even then these are usually at a higher rate than the ensuing panic sells). Done enough this can create it's own downward price momentum which results in a general downward price trend. The whales just sit back and wait for the panic sellers to feed them the coins that they want. It's normally someone with big pockets (whale) who can afford to wait a very long time. When they decide they have had enough they have the resources to put momentum back into the market by selling large amounts of coins back to themselves as they normally have tens of BTC sitting around (unlike the average person). This is enough to create a real buzz and bring the coin back to the community spotlight and get the price moving upwards again - this is a PUMP. When it has moved up in price enough, they sell all of their coins off - this is the peak price, where inexperienced people hear about the coin's success and buy in. The big whale selling off their coins during a predefined "peak" level is the DUMP. This starts off a price fall which people panic sell into and the whole cycle can repeat again. Often times the whale will re-accumulate at the "trough" or bottom of the panic selling phase before (after some time) starting the process again with another PUMP once the market has forgotten about the previous cycle sufficiently and/there is some good news on the horizon. This happens with nearly every coin and will continue to happen until there is more mainstream adoption. It's currently happening a with Britcoin and we are in the phase where one or more whales are slowly accumulating. You can test it by waiting to see these tiny sell orders popping up and buying them when they do. No matter how often you buy them up after a short time they will return, indicating that someone has a bot working to specifically work on lowering the price. If they genuinely wanted to sell their coins they wouldn't break them down into tiny trades and sell them at below all the other prices, since in effect they are reducing the money they make. Sometimes genuine people will break up their trades so as not to cause a downward trend in price, but in those cases the aim is to sell at a higher price and maintain it (not lower it). A lower price only benefits someone who is buying. Very nice writeup, thanks, you have my respect ! Where do you get this bots ? I'd like to have a look at them There is one here: https://bitcointalk.org/index.php?topic=507103.0
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ocminer
Legendary
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Activity: 2688
Merit: 1240
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July 24, 2014, 08:27:16 PM |
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I really, really wonder why this coin is not successing.. Mining was great, Devs plans were good, no chinese stuff.. Its just a flat line on Bittrex.. since it came there..
Someone has been messing around with the prices since it appeared on Bittrex. Lots of bot type activity too. Whenever the price goes up someone puts in tiny sell orders at way below everyone else - sometimes 50 or a 100 sats lower which at current price levels is a massive percentage reduction. Since the official price on Bittrex is the last selling price (irrespective of quantity or volume) this gives a falsely low price which is then aggregated by all the coin pricing sites. This leads to the "official" Britcoin price being much lower than the average selling price, giving people a false impression and leading people without patience to panic sell at even lower prices. The person accumulating then hoovers these coins up at much lower than market rates (like a whale swallowing plankton). They save a huge amount overall at the cost of selling a tiny amount of their Britcoins (and even then these are usually at a higher rate than the ensuing panic sells). Done enough this can create it's own downward price momentum which results in a general downward price trend. The whales just sit back and wait for the panic sellers to feed them the coins that they want. It's normally someone with big pockets (whale) who can afford to wait a very long time. When they decide they have had enough they have the resources to put momentum back into the market by selling large amounts of coins back to themselves as they normally have tens of BTC sitting around (unlike the average person). This is enough to create a real buzz and bring the coin back to the community spotlight and get the price moving upwards again - this is a PUMP. When it has moved up in price enough, they sell all of their coins off - this is the peak price, where inexperienced people hear about the coin's success and buy in. The big whale selling off their coins during a predefined "peak" level is the DUMP. This starts off a price fall which people panic sell into and the whole cycle can repeat again. Often times the whale will re-accumulate at the "trough" or bottom of the panic selling phase before (after some time) starting the process again with another PUMP once the market has forgotten about the previous cycle sufficiently and/there is some good news on the horizon. This happens with nearly every coin and will continue to happen until there is more mainstream adoption. It's currently happening a with Britcoin and we are in the phase where one or more whales are slowly accumulating. You can test it by waiting to see these tiny sell orders popping up and buying them when they do. No matter how often you buy them up after a short time they will return, indicating that someone has a bot working to specifically work on lowering the price. If they genuinely wanted to sell their coins they wouldn't break them down into tiny trades and sell them at below all the other prices, since in effect they are reducing the money they make. Sometimes genuine people will break up their trades so as not to cause a downward trend in price, but in those cases the aim is to sell at a higher price and maintain it (not lower it). A lower price only benefits someone who is buying. Very nice writeup, thanks, you have my respect ! Where do you get this bots ? I'd like to have a look at them There is one here: https://bitcointalk.org/index.php?topic=507103.0Thanks, very interesting..
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suprnova pools - reliable mining pools - #suprnova on freenet https://www.suprnova.cc - FOLLOW us @ Twitter ! twitter.com/SuprnovaPools
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Rage19420
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July 24, 2014, 08:41:22 PM |
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I really, really wonder why this coin is not successing.. Mining was great, Devs plans were good, no chinese stuff.. Its just a flat line on Bittrex.. since it came there..
Someone has been messing around with the prices since it appeared on Bittrex. Lots of bot type activity too. Whenever the price goes up someone puts in tiny sell orders at way below everyone else - sometimes 50 or a 100 sats lower which at current price levels is a massive percentage reduction. Since the official price on Bittrex is the last selling price (irrespective of quantity or volume) this gives a falsely low price which is then aggregated by all the coin pricing sites. This leads to the "official" Britcoin price being much lower than the average selling price, giving people a false impression and leading people without patience to panic sell at even lower prices. The person accumulating then hoovers these coins up at much lower than market rates (like a whale swallowing plankton). They save a huge amount overall at the cost of selling a tiny amount of their Britcoins (and even then these are usually at a higher rate than the ensuing panic sells). Done enough this can create it's own downward price momentum which results in a general downward price trend. The whales just sit back and wait for the panic sellers to feed them the coins that they want. It's normally someone with big pockets (whale) who can afford to wait a very long time. When they decide they have had enough they have the resources to put momentum back into the market by selling large amounts of coins back to themselves as they normally have tens of BTC sitting around (unlike the average person). This is enough to create a real buzz and bring the coin back to the community spotlight and get the price moving upwards again - this is a PUMP. When it has moved up in price enough, they sell all of their coins off - this is the peak price, where inexperienced people hear about the coin's success and buy in. The big whale selling off their coins during a predefined "peak" level is the DUMP. This starts off a price fall which people panic sell into and the whole cycle can repeat again. Often times the whale will re-accumulate at the "trough" or bottom of the panic selling phase before (after some time) starting the process again with another PUMP once the market has forgotten about the previous cycle sufficiently and/there is some good news on the horizon. This happens with nearly every coin and will continue to happen until there is more mainstream adoption. It's currently happening a with Britcoin and we are in the phase where one or more whales are slowly accumulating. You can test it by waiting to see these tiny sell orders popping up and buying them when they do. No matter how often you buy them up after a short time they will return, indicating that someone has a bot working to specifically work on lowering the price. If they genuinely wanted to sell their coins they wouldn't break them down into tiny trades and sell them at below all the other prices, since in effect they are reducing the money they make. Sometimes genuine people will break up their trades so as not to cause a downward trend in price, but in those cases the aim is to sell at a higher price and maintain it (not lower it). A lower price only benefits someone who is buying. Very nice writeup, thanks, you have my respect ! Where do you get this bots ? I'd like to have a look at them There is one here: https://bitcointalk.org/index.php?topic=507103.0Thanks, very interesting.. It is interesting, however it looks like you could really fuk yourself into a hole if not configured properly. Some people who are selling their licenses seem to have been under the impression that its a "set it and forget it" app. Hardly the case, you have to watch where its going.
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Soul_eater_123
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July 24, 2014, 09:13:06 PM |
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It is interesting, however it looks like you could really fuk yourself into a hole if not configured properly. Some people who are selling their licenses seem to have been under the impression that its a "set it and forget it" app. Hardly the case, you have to watch where its going.
Some people deliberately use them for evil acts (whales for example) or try to (wannabe whales who aren't at all). When used how they are supposed to be they do have their uses for people looking to make lots of small margin trades etc. Like Rage said they need to be supervised regularly or you could end up losing a lot of money in the short term. People who know what to do can easily "game" them or set up other bots against them purely for fun to cause price stagnation and just to piss people off. - They can be really annoying and tend to put some people off investing in coins if they see a lot of bot activity. Note, I very much doubt the big whales use any of the freely available trading bots. They most likely have custom coded bots made specifically for their needs. These people throw around serious money and they don't cut corners in this regard as even a small percentage difference can be many BTC to them.
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Soul_eater_123
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July 25, 2014, 01:09:02 PM Last edit: July 25, 2014, 01:20:01 PM by Soul_eater_123 |
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I'm having an issue with the mac wallet where it always freezes up with the dreaded beachball of death after a few hours of staking requiring me to "Force Quit" and restart. I didn't report on it earlier because I wanted to make sure it wasn't an issue/interaction with the other apps I'm running but it seems to be the Britcoin wallet itself. I'm running OS X 10.9.4 - Here are the mac specs:
Model Name: iMac Model Identifier: iMac13,2 Processor Name: Intel Core i7 Processor Speed: 3.4 GHz Number of Processors: 1 Total Number of Cores: 4 L2 Cache (per Core): 256 KB L3 Cache: 8 MB Memory: 32 GB Boot ROM Version: IM131.010A.B05 SMC Version (system): 2.11f14 Serial Number (system): DGKKG0ZMDNMP Hardware UUID: BB715B57-1FF9-529A-84BE-0542C7D9E932
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will7am (OP)
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July 26, 2014, 09:34:52 AM |
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I'm having an issue with the mac wallet where it always freezes up with the dreaded beachball of death after a few hours of staking requiring me to "Force Quit" and restart. I didn't report on it earlier because I wanted to make sure it wasn't an issue/interaction with the other apps I'm running but it seems to be the Britcoin wallet itself. I'm running OS X 10.9.4 - Here are the mac specs:
Model Name: iMac Model Identifier: iMac13,2 Processor Name: Intel Core i7 Processor Speed: 3.4 GHz Number of Processors: 1 Total Number of Cores: 4 L2 Cache (per Core): 256 KB L3 Cache: 8 MB Memory: 32 GB Boot ROM Version: IM131.010A.B05 SMC Version (system): 2.11f14 Serial Number (system): DGKKG0ZMDNMP Hardware UUID: BB715B57-1FF9-529A-84BE-0542C7D9E932
That's strange, I will pass on the info to our coin dev and see what he says As far as I'm aware other people are not getting this error, so I'm inclined to think it's a issue on your side. I will update you when I have more information.
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will7am (OP)
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July 26, 2014, 11:04:01 AM |
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Quick update on what's going on with BritCoin; We've found our new PR/Marketing team member, Lee 'MiB' Exley from England. Making him the 4th member of the BritCoin team, a big welcome to him! Work on our BritCoin promo video has began, this will outline the benefits of using Brit in simple terms and hopefully will be helpful for new buyers and users. The BritCoin marketplace is beginning to take shape, which will allow users to buy/sell/trade anything in BritCoins with Escrow support. Our 'buy Brit with Fiat' platform is currently being tested, due to unforeseen delays it should be ready for live use early next week. We're also in talks with Moolah and Bittylicious about partnering, with some luck I will be able to update everyone on the outcomes soon.
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Soul_eater_123
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July 26, 2014, 11:27:36 AM |
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Quick update on what's going on with BritCoin; We've found our new PR/Marketing team member, Lee 'MiB' Exley from England. Making him the 4th member of the BritCoin team, a big welcome to him! Work on our BritCoin promo video has began, this will outline the benefits of using Brit in simple terms and hopefully will be helpful for new buyers and users. The BritCoin marketplace is beginning to take shape, which will allow users to buy/sell/trade anything in BritCoins with Escrow support. Our 'buy Brit with Fiat' platform is currently being tested, due to unforeseen delays it should be ready for live use early next week. We're also in talks with Moolah and Bittylicious about partnering, with some luck I will be able to update everyone on the outcomes soon. Fantastic news. Now all in the community should help spread the word about this. Particularly the BRIT>FIAT platform - that is huge news.
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Pebbelzz
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July 26, 2014, 01:31:01 PM |
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Quick update on what's going on with BritCoin; We've found our new PR/Marketing team member, Lee 'MiB' Exley from England. Making him the 4th member of the BritCoin team, a big welcome to him! Work on our BritCoin promo video has began, this will outline the benefits of using Brit in simple terms and hopefully will be helpful for new buyers and users. The BritCoin marketplace is beginning to take shape, which will allow users to buy/sell/trade anything in BritCoins with Escrow support. Our 'buy Brit with Fiat' platform is currently being tested, due to unforeseen delays it should be ready for live use early next week. We're also in talks with Moolah and Bittylicious about partnering, with some luck I will be able to update everyone on the outcomes soon. Great news! Thanks for the update
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will7am (OP)
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July 26, 2014, 07:22:09 PM |
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Great news! Thanks for the update Thanks for your support Pebbelzz! Shame the volume is low on Bittrex, let's hope it rises with the unveiling of our new features next week.
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will7am (OP)
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July 26, 2014, 07:37:47 PM |
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Cool, thanks for the link. Looks really interesting Bit on the expensive side, but still cheaper than a high end leather wallet haha
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hugabase
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July 27, 2014, 03:28:59 PM |
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Quick update on what's going on with BritCoin; We've found our new PR/Marketing team member, Lee 'MiB' Exley from England. Making him the 4th member of the BritCoin team, a big welcome to him! Work on our BritCoin promo video has began, this will outline the benefits of using Brit in simple terms and hopefully will be helpful for new buyers and users. The BritCoin marketplace is beginning to take shape, which will allow users to buy/sell/trade anything in BritCoins with Escrow support. Our 'buy Brit with Fiat' platform is currently being tested, due to unforeseen delays it should be ready for live use early next week. We're also in talks with Moolah and Bittylicious about partnering, with some luck I will be able to update everyone on the outcomes soon. GOOD news..I stand on the Right side with BRITCOIN +1
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