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EcoChavCrypto
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August 18, 2014, 02:11:14 PM |
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James, I am going to the studio today to work on the tshirt screen. Below it the simple concept I have come up with. I will have to stick to a one screen design as we have a massive multi screen job on and all screens are tied up for the next month or so. Let me know what you think.  If you could contact https://www.coinpayments.net and get BTCD listed that would be awesome. They take a small fee for orders but its a great system to keep track of them. I used them for www.cryptohut.co.uk/blackmoon |
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gitbknowsall
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August 18, 2014, 04:14:24 PM |
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In my opinion if someone don't know how much should he donate.http://bitcoindark.net/development-potLittle math 1.6 milion coins guys need 5 k So if you own 100 k it should be 312.5 BTCD But let's double it ( ' let say somebody don't know he should donate' ) So 100k BTCD = 625 BTCD 10k BTCD = 62.5 BTCD (1k) 1000 BTCD = 6.25 BTCD Is it bad idea ? okay thats completely incorrect James investment asset owns 120k btcd.. that is not the core developments funds those funds belong to James and his investors. And it should also be noted that James personally matches the communities funding which is un heard of in crypto. this is an actual community project so there is no need to have a flood of dumped btc to "fund" development, this isnt a bucket of crabs looking for payout, this is seasoned investors and technology fanatics. We are the crypto revolution. |
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jl777
Legendary
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Activity: 1176
Merit: 1132
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August 18, 2014, 06:18:42 PM |
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There seems to be two or three people running a test version
the strange thing is that this version was not made available publicly...
It did help us discover a bug that we are fixing, but kind of strange to have a few mystery nodes running a dev test version.
Is anybody willing to admit they are running test version?
James
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gadado
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August 18, 2014, 06:22:24 PM |
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Do you have any idea or explanation how this Coin keept it's value in this bloody days?
There is close to nothing that makes this coin looking attractive to me personel but this observed price stability fact makes me very courious. That's an indication for value.
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jl777
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August 18, 2014, 06:33:08 PM |
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If you look at coinmarketcap, the top is a sea of red.
BTCD has gone from .004 to .0045, ~10% higher level, which doesnt seem like much, but when all the other coins are down 5%, 10%, 15% or more, gaining and holding onto 10% is quite good. I read that many people are actually trading crypto on margin! As if there isnt enough volatility for them just trading 1:1?!
Anyway, BTC and LTC have some places that are allowing short selling and this explains the freefall in LTC price. I think bitfinex is the culprit and guess what DRK trades there too, so maybe all this downward pressure is caused by the liquidation selling of people who had long position and of course this forced selling into not so liquid markets makes the drop exaggerated.
My advice, DONT MARGIN TRADE CRYPTO!
Silly peoples. It is dangerous enough to trade highly liquid markets with a lot of historical data to allow for reasonably accurate price predictors. To do this in relatively thinly traded crypto markets which are already apt to change +/- 10% daily is, well, I cant think of better word, stupid.
For things like USD, EUR, the price doesnt change much at all. a 1% change in a day is a tremendous move, like giant earthquake, everything is being revalued type of move. 0.1% is still quite a large move, so if all day everything is +/- 0.1% it gets very boring as you can make or lose much money, so what's the fun in that?
Enter margin trading. 0.1% is too boring, the answer is simple use 100:1 margin, now you get the much more interesting +/- 10% per day with occasional 50%+ days. Gee, that sounds like what crypto is without margin!
So, there is a big storm of uncontrolled selling that is feeding back on itself (as the price goes lower, it triggers more liquidation selling, which causes the price to go lower, etc.) I have no idea the extent of the margin trading, but until ALL their accounts are liquidated (they deserve it! bringing wall street crazy to crypto crazy is just crazy crazy) this selling could continue. So, if at the end of all this BTCD is still where it is, that means it has actually gained quite a bit. I would not be surprised at ~30% to 40% drop, so that would be BTC at $400 USD, I guess we are almost there!
BTCD is now at all time high ranking of #15 and I will predict now that BTCD will rank higher than LTC, possibly before end of this year, but primarily from its dropping down to where it belongs. What value does a coin that has faster blockchain than BTC have? It does have a rather large number of merchants that accept it, but does that make it worth so much? I think not.
Whatever we do, let us never allow BTCD to get traded on bitfinex or any exchange that offers margin! crazy crazy
James
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SpringfieldM1A
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August 18, 2014, 06:37:23 PM
Last edit: August 18, 2014, 06:49:27 PM by SpringfieldM1A |
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If you look at coinmarketcap, the top is a sea of red.
BTCD has gone from .004 to .0045, ~10% higher level, which doesnt seem like much, but when all the other coins are down 5%, 10%, 15% or more, gaining and holding onto 10% is quite good. I read that many people are actually trading crypto on margin! As if there isnt enough volatility for them just trading 1:1?!
Anyway, BTC and LTC have some places that are allowing short selling and this explains the freefall in LTC price. I think bitfinex is the culprit and guess what DRK trades there too, so maybe all this downward pressure is caused by the liquidation selling of people who had long position and of course this forced selling into not so liquid markets makes the drop exaggerated.
My advice, DONT MARGIN TRADE CRYPTO!
Silly peoples. It is dangerous enough to trade highly liquid markets with a lot of historical data to allow for reasonably accurate price predictors. To do this in relatively thinly traded crypto markets which are already apt to change +/- 10% daily is, well, I cant think of better word, stupid.
For things like USD, EUR, the price doesnt change much at all. a 1% change in a day is a tremendous move, like giant earthquake, everything is being revalued type of move. 0.1% is still quite a large move, so if all day everything is +/- 0.1% it gets very boring as you can make or lose much money, so what's the fun in that?
Enter margin trading. 0.1% is too boring, the answer is simple use 100:1 margin, now you get the much more interesting +/- 10% per day with occasional 50%+ days. Gee, that sounds like what crypto is without margin!
So, there is a big storm of uncontrolled selling that is feeding back on itself (as the price goes lower, it triggers more liquidation selling, which causes the price to go lower, etc.) I have no idea the extent of the margin trading, but until ALL their accounts are liquidated (they deserve it! bringing wall street crazy to crypto crazy is just crazy crazy) this selling could continue. So, if at the end of all this BTCD is still where it is, that means it has actually gained quite a bit. I would not be surprised at ~30% to 40% drop, so that would be BTC at $400 USD, I guess we are almost there!
BTCD is now at all time high ranking of #15 and I will predict now that BTCD will rank higher than LTC, possibly before end of this year, but primarily from its dropping down to where it belongs. What value does a coin that has faster blockchain than BTC have? It does have a rather large number of merchants that accept it, but does that make it worth so much? I think not.
Whatever we do, let us never allow BTCD to get traded on bitfinex or any exchange that offers margin! crazy crazy
James
You are right, margin trading is killing crypto. All it takes is a couple of whales lending out BTC to people who go long on BTC and then, right before going short themselves, crash the price. This is how they get rich while the noobs get burned. |
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RichardT
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August 18, 2014, 06:50:32 PM |
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That's a lot of maybe's. I have been following BTCD recently due to the fact it had a huge rise in price and is still holding around there despite all these dumps going on. It's definitely peaked my interest, but from what I can tell, BTCD's value has really only been dependent on promises made by the dev(s) so far. I don't see any major feature releases yet. Am I missing something? |
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jl777
Legendary
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Activity: 1176
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August 18, 2014, 06:51:28 PM |
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Last night I came up with a way for increasing demand for BTCD, possibly by a lot, but it is a bit controversial. At least I think it is. With the current poll kind of tied and no clear mandate, I think it is time for a new poll.
As you know there will be ability to fragment each telepod into M of N pieces, with M needed to reconstruct on the receiving end. The higher the value of N, the better privacy and N can go to a crazy high number of 254. However such a number would create some load on the network, just bandwidth and not permanent, but still it is an issue.
So, I was thinking of requiring 1 BTCD per N, meaning if you need 1 BTCD to do 1 of 1 multisig, basically no multisig. if you have 10 BTCD, then you can use N of up to 10, etc. So to be able to fully utilize multisend (? not sure of name) you would need to have 254 BTCD. Doesnt sound like much, but with only 1.2 million BTCD this will create at most 4700 people that can do M of 254 multisend and realistically much less.
On the other hand, if even 100,000 people want to start teleporting (any currency not just BTCD) they would need at least 1 BTCD to do any teleporting of anything. This would create a hardcap of 1.2 million teleporters and realistically more like 100,000 as it is safe to say there are a lot of people with more than 1 BTCD, thus lowering the available BTCD. this is why it is controversial. I dont want to artificially limit teleporting and I think 1 BTCD requirement to enable teleport is not unreasonable.
This min 1 BTCD requirement would permanently take X BTCD off market where X is the number of people who are teleporting and actually X * Y, where Y is the average M of N level that people fund. If X is 10,000 and Y is 5, that just took 50,000 BTCD permanently off the market. Is this too drastic?
I just want to be sure. Can we have a poll?
James
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jl777
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August 18, 2014, 06:58:19 PM |
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That's a lot of maybe's. I have been following BTCD recently due to the fact it had a huge rise in price and is still holding around there despite all these dumps going on. It's definitely peaked my interest, but from what I can tell, BTCD's value has really only been dependent on promises made by the dev(s) so far. I don't see any major feature releases yet. Am I missing something? Test releases with source code available. Maybe smart peoples are understanding Teleport tech, verifying the source code is very close to complete, even running some test nodes. Or maybe they trust the dev that created multigateway? If all these maybes were completed, do you really think the price would be where it is now? The market is discounting the future potential with the probability of completion, toss in skepticism due to many other devs that dont deliver, etc. and you have the current price. Also, we are not having much fancy websites or big marketing budgets. We just make hard work to develop the tech and the websites, etc. are all volunteer created. BTCD is a work in progress, but you get to see the work progress on a regular basis. If having a chance that BTCD wont complete its tech is too big of a risk for you, then I suggest you wait. Even after BTCD is more fully valued, it will still pay the 5% per year interest, revenue sharing from InstantDEX and teleport fees. James |
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jl777
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August 18, 2014, 07:00:48 PM |
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That's a lot of maybe's. I have been following BTCD recently due to the fact it had a huge rise in price and is still holding around there despite all these dumps going on. It's definitely peaked my interest, but from what I can tell, BTCD's value has really only been dependent on promises made by the dev(s) so far. I don't see any major feature releases yet. Am I missing something? Do you know what happened to keycoin? |
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RichardT
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August 18, 2014, 07:07:52 PM |
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Test releases with source code available. Maybe smart peoples are understanding Teleport tech, verifying the source code is very close to complete, even running some test nodes. Or maybe they trust the dev that created multigateway?
If all these maybes were completed, do you really think the price would be where it is now? The market is discounting the future potential with the probability of completion, toss in skepticism due to many other devs that dont deliver, etc. and you have the current price. Also, we are not having much fancy websites or big marketing budgets. We just make hard work to develop the tech and the websites, etc. are all volunteer created.
BTCD is a work in progress, but you get to see the work progress on a regular basis. If having a chance that BTCD wont complete its tech is too big of a risk for you, then I suggest you wait. Even after BTCD is more fully valued, it will still pay the 5% per year interest, revenue sharing from InstantDEX and teleport fees.
James
Thanks for the quick response. I'm very new to this thread and do not know a whole lot of what has been going on, but I must admit, I'm impressed with the supporters and investors of this coin. They seem to put a lot of trust in you, and I can only assume you must have done something right to earn that. I will continue to follow for now and see where it all goes Do you know what happened to keycoin? Sorry, it's hard to gauge the tone of your voice through the internet, but is this a sincere question? |
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Azeh (OP)
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August 18, 2014, 07:12:14 PM |
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New Poll up!
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Juicemixer
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August 18, 2014, 07:12:27 PM |
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I wouldn't charge too much for teleport. If the fee is high then so few people will use it that it might as well not exist. I can go for charging 1 btcd for max security setting but if the coin reaches 10 dollars or more then sending just a simple transfer would be pricey at 1 btcd per low setting teleport.
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jl777
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August 18, 2014, 07:16:19 PM |
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As you know I am working with math professor (from ivy league univ), he wrote the Math behind NXT paper http://www.docdroid.net/ecmz/forging0-5-2.pdf.htmlTeleport is at first a bit puzzling in its apparent simplicity, but once you realize the potential for trusted teleports, M of N multisend, the difficulty of any attacker breaking the encrypted packets, lack of permanent blockchain record, etc. It becomes a challenge to simplify things to a "simple" math equation. Since Teleport is actually a system and not just an algorithm, it will not be so easy to create a precise mathematical model. I am glad this is not a task for me! Anyway, this means the type of analysis seen in the paper above will probably not be available for a while. But in the meantime, I do have a highly relevant quote: Quote from: mthcl on Today at 05:30:08 pm
OK, now I understand. Then the privacy level really increases together with the size of the telepod economy...
Considering the stature of mthcl, I think this quote belongs in the OP along with link to his NXT paper so people will know he is one of the guys smarter than me James P.S. The fact that privacy level increases with overall activity is unique among anon solutions, all others have a fixed (and relatively small) anon set. It is fair to say that our anon set is bigger than their anon set |
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thevampireskilledit
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August 18, 2014, 07:16:56 PM |
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I wouldn't charge too much for teleport. If the fee is high then so few people will use it that it might as well not exist. I can go for charging 1 btcd for max security setting but if the coin reaches 10 dollars or more then sending just a simple transfer would be pricey at 1 btcd per low setting teleport.
Would it be possible to charge a percent of the market cap rather than a coin amount? |
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jl777
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August 18, 2014, 07:17:21 PM |
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I wouldn't charge too much for teleport. If the fee is high then so few people will use it that it might as well not exist. I can go for charging 1 btcd for max security setting but if the coin reaches 10 dollars or more then sending just a simple transfer would be pricey at 1 btcd per low setting teleport.
it wont be a fee, just a requirement to have it, you can and should be staking with it the fee will be something small like 0.1% |
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jl777
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Activity: 1176
Merit: 1132
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August 18, 2014, 07:18:47 PM |
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I wouldn't charge too much for teleport. If the fee is high then so few people will use it that it might as well not exist. I can go for charging 1 btcd for max security setting but if the coin reaches 10 dollars or more then sending just a simple transfer would be pricey at 1 btcd per low setting teleport.
Would it be possible to charge a percent of the market cap rather than a coin amount? anything is possible, but querying orderbooks is not good design for this also, it is not a fee, just a requirement to have some BTCD to be able to use teleport facilities sort of like being part of the club. James |
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Poll
