[ANN] [KIMO] Kimocoin | VOICE YOUR SUPPORT FOR MORE KIMO AUCTIONS

[Qxw]

For auction jakob019 did not tell minimum or fixed  increment. If increment is too high it may lead to too high final price ( note)  and with it -  need also think that every mirror have also back side.  It may have negative effect for KMC value.

(note: and less peoples bidding what is also not good)


When we buy real things using KMC directly and what things also have real price on the "fiat money" markets (USD, EUR, CNY etc prices) we  indirectly show what is exchange value for KMC - this is important to keep in mind.

Example, if some product real price including delivery is, say example 100 USD,  and I make 200M KMC bid then I have just told that I will sell my KMC with 50 cent /1 M KMC exchange rate.


Some other "findings"
In example my case where I really also pay mining rigs electric I made simple calculations and for me every 1M KMC electric price is very near 0.5 Eur. This is only electric. There is also other costs of course. This was calculated using today situation (46000KMC/block reward)  and network total hash rate. I can get now around 13M KMC using around 50kWh total power what is over 3.8kWh for one M KMC.

In Comcort exchange today immediate sell price is 0.08LTC for 1M KMC.
0.08LTC is around 0.67 USD and it is around 0.5 Eur.

If electric is 0.13 euro cent / kWh it means that mining 1M KMC electric price is around 0.5 Eur.

Now if exchange rate stay today level and block reward fall or difficulty change if we get more hash rate it is much cheaper to buy KMC than mine.

So, it need think carefully how some things may manipulate KMC value / exchange rate.

(disclaimer: calculations/estimates are not accurate and they match only alone in my personal situation with my mining equipments and electric consumption and prices. Also I hope there is not mistakes in calc.)

Soon exchange rate need rise more than 10x (block reward fall to 5 KIMO) and for make it possible it need many kind of clevcer marketing and also information so that KMC / KIMO (kKMC) is better known with its new better management. If exchange rate do not rise and have no reason to believe it will later rise who will then mine it if need keep expensive rigs here mining and pay investments and direct costs as electric etc.
Situation is different if someone have free mining HW and free electric.


Are there any reasons for delete this auction start and adjust some things and restart it?

[1715184991]

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[1715184991]

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[GraberKGD]

I fully agree with Qxw

[jacob019]

Are there any reasons for delete this auction start and adjust some things and restart it?

My purpose here is to support KMC.  The bid increment can be 1M KMC, but of course you can bid as high as you wish..  What do you propose that we do differently?

Current bid is 25M KMC for a brand new top-of-the-line 60GB Toshiba SSD.  Who will bid 26M KMC?

[Qxw]

Are there any reasons for delete this auction start and adjust some things and restart it?

My purpose here is to support KMC.  The bid increment can be 1M KMC, but of course you can bid as high as you wish..  What do you propose that we do differently?

Current bid is 25M KMC for a brand new top-of-the-line 60GB Toshiba SSD.  Who will bid 26M KMC?

Yes it is now ok. (1M KMC increment).
It is some amount different thing if keep normal auction for just sell things or "support" auction for this coin.

(ref. other previous comments)

Only meaning for restart auction was that IF want more bidders and try start enough low with example just 1M inrements. Of course no one can promise it give more bidders. Specially need these peoples what are not now active with KMC. This coin need  more users. This kind of auctions are part of this but also other things are important. But it is ok also now with 1M inc.


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This is critical time due to decreasing block reward (soon we have nearly one tenth of today reward). Alone it do not automatically push coin value higher.
There need be peoples who want this coin. Why someone buy some altcoin as example KMC. One  reason is that he do not have this coin and he need this coin for example pay something what is sold with this currency. Other reason is of course speculative that people believe he buy now using 1 grain of rice and later it can sell and get 2 grain of rice.

Why I mine this coin. Just because I strongly believe it rise later.  Now it have reliable management what make it possible.

It can not mine now and immediately sell and get a profit or even cover all mining costs. (if do not have very cheap or free electric.)
But, this profit problem is now with hundreds of altcoins so we are not alone and if compare even today block reward and today price KMC is still not bad.

[Qxw]

Current bid is 25M KMC for a brand new top-of-the-line 60GB Toshiba SSD.  Who will bid 26M KMC?

26M KMC  (26000 KIMO)

[jacob019]

Thanks for your bid.  

It is some amount different thing if keep normal auction for just sell things or "support" auction for this coin.

I am doing this to support the coin.  International shipping is expensive and the KMC selling price will not cover my cost at the current market price.  I sell these goods easily in the USA market for a nice profit, but KMC is my hobby and I want to support it.  It was not my idea to have 25M first bid, but it's still a very low price for the drive.  I think as the market price rises and the community grows the auctions can become profitable.  Anyway I really appreciate your thoughts and I agree with you on all points.  We need more services to grow the Kimocoin ecosystem, speculative investment is not enough--there are too many altcoins now.  The auction is just one idea and it's easy to implement.  Do you have any other ideas to promote KMC or offer new services?

Current bid is 26M KMC for a high end Toshiba 60GB 2.5" SATA SSD with 534 MB/s read speed and 450 MB/s write speed.  Can we get 27M?


-----
If you have not yet updated your wallet after the 7/14 hard fork, you must download the updated wallet.  The old wallet will not work.
http://faucet.kimocoin.com/downloads/KimoCoin_Win32.zip

[cell.md]

Guys, as I said in the previous thread, the price is not only the prime cost, but a tango between offer and demand. Plus other stuff like inflation, popularity etc. In the other word: It's complicated
And remember, price it's a "now moment" stuff, therefore it's changing all the time.

Jacob, 27M from me.

[Nrcewker]

More and more exchanges began to respond to anti-money laundering requirements
Previously not need, and are now demanded lakebtc: https://www.lakebtc.com/s/aml?locale=en

[drakandar]

1.  Go to your Kimocoin appdata folder > C:\Users\Jacob\AppData\Roaming\KimoCoin
2.  Make a backup copy of wallet.dat (optional, but a good idea)
3.  Delete chainstate, blocks, database, and peers.dat
4.  Then open up cmd, then go to your kimocoin-qt.exe directory, like mine is C:\Users\Jacob\Downloads
5.  Type kimocoin-qt.exe -rescan
6.  Add some nodes to get connected:
Help > Debug > Console
addnode kimocoin.com add
addnode p2pool-eu.kimocoin.com add
addnode kmc.1js.us add
addnode dice.kimocoin.com add
7.  It will resync and re-download all the blocks and update the chainstate

These instructions are only if you have trouble, it should sync without this.

This did the trick

and a new bid of 28M from me!

[tw0rak]

29M KMC

[GraberKGD]

29M KMC

30M KMC

[jacob019]

130M KMC trading volume on Comkort.  Very nice, keep it up.

Current bid is 30M KMC for a high end Toshiba 60GB 2.5" SATA SSD with 534 MB/s read speed and 450 MB/s write speed.  Can we get 31M?

-----
If you have not yet updated your wallet after the 7/14 hard fork, you must download the updated wallet.  The old wallet will not work.
http://faucet.kimocoin.com/downloads/KimoCoin_Win32.zip

[cell.md]

31M here.

[tw0rak]

32MKMC

[Qxw]

32MKMC

33M KMC (32000 KIMO)

[jacob019]

Current bid is 33M KMC for a high end Toshiba 60GB 2.5" SATA SSD with 534 MB/s read speed and 450 MB/s write speed.  Less than 12 hours to go.  Can we get 34M?

[cell.md]

Yes, we can!

34M from me.

[GraberKGD]

35M from me.

[jacob019]

Current bid is 35M KMC for a high end Toshiba 60GB 2.5" SATA SSD with 534 MB/s read speed and 450 MB/s write speed.  Only 1 hour left.  If you need a little extra KMC, you can buy them at Comkort:
https://comkort.com/market/trade/kmc_ltc

Can we get 36M?

[Qxw]

36M KMC