BTCD is no more

[Grillo]

Am I on a fork??
Network weight is only 54k??
68640blocks..

[cloudboy]

Am I on a fork??
Network weight is only 54k??
68640blocks..

No, that's correct.

[jl777]

While I am waiting for some mgwBTCD tests, I was looking at all the green on coinmarketcap today. So after yesterday's sea of red, we get all coins recovering some part of it today. I think for a lot of coins since the loss was caused by liquidity squeeze they will regain most of what they lost. Though some coins are going through the DCB (dead cat bounce) stage and I fear bargain hunters in some coins will be burned.

The interesting thing about all this is that while the other coins were losing 10%, 20% or even 40%, BTCD hardly budged. Ignoring the bots small volume games, the prices held quite close to the .0045 level. Now today, the recovery and BTCD price is hardly moving. Not sure what this means, its almost like BTCD is existing outside the "normal" crypto universe.

Maybe it is because ~75% is staking and off the market? Not sure, such observing.

Ah, seems I have a few bugs to fix, but I am hoping to get mgwBTCD operational soon. After all these build issues and dealing the NXT's Digital Goods Store coming online and changing some low level syntax, I am not in the mood for difficult coding today, so might as well push forward in the easier areas. One good thing about doing so many things is that there is usually something that I am ready to do, so each day makes progress, just sometimes in unexpected areas.

More as I get some tangible results. I did manage to get BTCD deposits to multisig address working and even got a withdraw, but something is getting confused due to the new API that wasnt backwards compatible. I made a big fuss about this in NXT land and until the 50 mil heist, it was the hot topic, but at least moving forward I have promises that new releases of NXT wont be breaking deployed production systems, especially the #1 most popular NXT addon service like MGW! It is already the #1 exchange for NXT/BTC since bter is still offline, 50 BTC to 100BTC per day, just trading NXT and its still in beta running on my dev servers.

With such an overwhelming popularity of MGW, its asset price went from ~2 to almost 10 NXT each, but that is probably just some overeager peoples that want to support MGW as it is operating in breakeven mode (to get marketshare) for now and its dividends will come from InstantDEX revenue sharing. InstantDEX solves the few issues with NXT AE and brings a centralized exchange user experience without the centralized exchange! Some decentralized magic and localhost webpage and it will look like a centralized exchange, but actually live in the peer to peer network (via privacyServers in BTCD core) and clear the trades on NXT blockchain via AE trades. Simple isnt it?

Anyway, with MGW prices above 7 and InstantDEX having 10 times the dividend potential, its current price of ~30 NXT is really undervalued, then again maybe MGW being over 3 is overvalued? It could go either way, but if MGW is doing 100BTC per day with the usually low volume NXT, reaching 1000 BTC per day for InstantDEX doesnt seem so unrealistic. That would create 1 BTC per day of InstantDEX dividends (0.1 BTC for MGW and 0.1 BTC for BTCD stakers), lets see that is 30 BTC per month or ~500,000 NXT per month -> 6 NXT per year of dividends per InstantDEX. So a price of 60 NXT would be a PE of 10. I guess not so crazy high after all. Maybe the MGW investors know what they are doing!

The cool thing is that with a decentralized architecture, the daily trading volume can go from 1000 BTC per day to 10000 BTC per day without needing any server upgrades or website overhauls, it just multiplies the dividends by 10.

Welcome to the new world of fully automated decentralized money making businesses

James

[chicken65]

Lots of hold hold hold. yes, that is what Ive been doing.

But how does that help me as an investor in this coin.
How does that help spread usage of this coin

[jl777]

Anonymous BTCD Debit Cards for Fiat Withdrawal

Crypto ⇒ Cash! An Anon Card is similar to a traditional pre-paid debit MasterCard but will allow BitcoinDark users the ability to anonymously transfer BTCD to fiat.

Anon cards will enable users to bridge the divide between Crypto and the Traditional Banking system. What this means is that you will be able to load your Anon card with BTCD and convert to fiat to make purchases or withdrawals.

However, Anon cards allow users to keep personal information private. Traditional debit cards are directly linked to users through personal information that is required in order to receive them, but with Anon Cards, no personal information is required to receive a card so your personal information will remain private, and your use of the card anonymous.

great job guys

i have a question though, how can the card be totaly anon? arent there anti money launderings laws that prohibits something like this?

i.e. there exists visa/mastercard prepaid credit cards that you can buy and load with money - without a need of registration.
the problem here is though, without registering the prepaid credit card you only have a annual volume of 500-1000 € i think.
could you give some more details about it? also is it still possible to get shares of it? 

greetings

Not all countries have laws that build in the assumption that anybody with money is a criminal. Hopefully the monthly volume limit for the card will be ~$5000 USD. If that is not enough, you would have to get another card. Still haggling with the bank, they seem to not understand crypto time and people are taking some summer holidays!

These cards are meant for personal use, not practical to push through millions of dollars required for large criminal enterprises, so that is how it is allowed. The whole premise that anybody with money is automatically a criminal is just so wrong. I made a lot of money in crypto, am I a criminal? As the crypto economy grows, more and more people will be able to earn a living working in crypto and without all the insane regulations, lawyers, accountants, taxes, etc. it is possible to work less hours and make more money. Of course if you worry about those sorts of things, please comply with all regulations and make sure to properly submit the cost basis for EVERY crypto transaction, including each and every mining block you stake, and properly calculate the capital gains earned using complex accounting methods you need to hire expensive accountant.

James

[Azeh]

New Poll UP!

How long should Teleport services for other coins be offered without charge?

Please Vote!

If you choose other, please make a post giving your comments.

Thanks

[jl777]

Lots of hold hold hold. yes, that is what Ive been doing.

But how does that help me as an investor in this coin.
How does that help spread usage of this coin

Selling doesnt help spread usage either.
I think BTCD will be in pretty high demand just so people can stake with it and get free teleporting for the commodity coins, like bitcoin

Think of owning BTCD like owning a membership that allows access to valuable services. Sort of like a passport, the more BTCD you have the more things you can do.

BerkshireHathaway stock is primarily a HODL stock, possibly the original HODL. It seems have done quite nicely over the years

James

[Azeh]

Anonymous BTCD Debit Cards for Fiat Withdrawal

Crypto ⇒ Cash! An Anon Card is similar to a traditional pre-paid debit MasterCard but will allow BitcoinDark users the ability to anonymously transfer BTCD to fiat.

Anon cards will enable users to bridge the divide between Crypto and the Traditional Banking system. What this means is that you will be able to load your Anon card with BTCD and convert to fiat to make purchases or withdrawals.

However, Anon cards allow users to keep personal information private. Traditional debit cards are directly linked to users through personal information that is required in order to receive them, but with Anon Cards, no personal information is required to receive a card so your personal information will remain private, and your use of the card anonymous.

great job guys

i have a question though, how can the card be totaly anon? arent there anti money launderings laws that prohibits something like this?

i.e. there exists visa/mastercard prepaid credit cards that you can buy and load with money - without a need of registration.
the problem here is though, without registering the prepaid credit card you only have a annual volume of 500-1000 € i think.
could you give some more details about it? also is it still possible to get shares of it? 

greetings

Not all countries have laws that build in the assumption that anybody with money is a criminal. Hopefully the monthly volume limit for the card will be ~$5000 USD. If that is not enough, you would have to get another card. Still haggling with the bank, they seem to not understand crypto time and people are taking some summer holidays!

These cards are meant for personal use, not practical to push through millions of dollars required for large criminal enterprises, so that is how it is allowed. The whole premise that anybody with money is automatically a criminal is just so wrong. I made a lot of money in crypto, am I a criminal? As the crypto economy grows, more and more people will be able to earn a living working in crypto and without all the insane regulations, lawyers, accountants, taxes, etc. it is possible to work less hours and make more money. Of course if you worry about those sorts of things, please comply with all regulations and make sure to properly submit the cost basis for EVERY crypto transaction, including each and every mining block you stake, and properly calculate the capital gains earned using complex accounting methods you need to hire expensive accountant.

James

Right on James!

+1 Million

[criptix]

Anonymous BTCD Debit Cards for Fiat Withdrawal

Crypto ⇒ Cash! An Anon Card is similar to a traditional pre-paid debit MasterCard but will allow BitcoinDark users the ability to anonymously transfer BTCD to fiat.

Anon cards will enable users to bridge the divide between Crypto and the Traditional Banking system. What this means is that you will be able to load your Anon card with BTCD and convert to fiat to make purchases or withdrawals.

However, Anon cards allow users to keep personal information private. Traditional debit cards are directly linked to users through personal information that is required in order to receive them, but with Anon Cards, no personal information is required to receive a card so your personal information will remain private, and your use of the card anonymous.

great job guys

i have a question though, how can the card be totaly anon? arent there anti money launderings laws that prohibits something like this?

i.e. there exists visa/mastercard prepaid credit cards that you can buy and load with money - without a need of registration.
the problem here is though, without registering the prepaid credit card you only have a annual volume of 500-1000 € i think.
could you give some more details about it? also is it still possible to get shares of it? 

greetings

Not all countries have laws that build in the assumption that anybody with money is a criminal. Hopefully the monthly volume limit for the card will be ~$5000 USD. If that is not enough, you would have to get another card. Still haggling with the bank, they seem to not understand crypto time and people are taking some summer holidays!

These cards are meant for personal use, not practical to push through millions of dollars required for large criminal enterprises, so that is how it is allowed. The whole premise that anybody with money is automatically a criminal is just so wrong. I made a lot of money in crypto, am I a criminal? As the crypto economy grows, more and more people will be able to earn a living working in crypto and without all the insane regulations, lawyers, accountants, taxes, etc. it is possible to work less hours and make more money. Of course if you worry about those sorts of things, please comply with all regulations and make sure to properly submit the cost basis for EVERY crypto transaction, including each and every mining block you stake, and properly calculate the capital gains earned using complex accounting methods you need to hire expensive accountant.

James

5000$ per month would be probaly sufficient for the majority of people, i hope that works out - i would be one of the first people to get the card

tbh it would be ideal to use crypto profits with this card - if its anon u wont feel the weight of government taxes  

[Juicemixer]

I purchased quite a few MGW assets when it was at 3 nxt per. I already knew it was a good investment then and still do now.

[chicken65]

Do these cards exist, or is it an idea 

[xtent]

Do these cards exist, or is it an idea 

They launch next month.

[jl777]

Do these cards exist, or is it an idea 

We are waiting for the bank guy who negotiated the details with coinomat to come back from vacation. Still good chance to be available in September as originally expected, but more likely toward the end of the month

James

[Juicemixer]

Speaking of which. Do you know when your NXTforex will be up on the AE James?

[chicken65]

Lots of hold hold hold. yes, that is what Ive been doing.

But how does that help me as an investor in this coin.
How does that help spread usage of this coin

Selling doesnt help spread usage either.
I think BTCD will be in pretty high demand just so people can stake with it and get free teleporting for the commodity coins, like bitcoin

Think of owning BTCD like owning a membership that allows access to valuable services. Sort of like a passport, the more BTCD you have the more things you can do.

BerkshireHathaway stock is primarily a HODL stock, possibly the original HODL. It seems have done quite nicely over the years

James

I agree selling doesnt help spread usage. But actively trying to promote teh coin outside of the tech lab does.
Anyway, I see now this is not a coin intended for such usage. But isnt that what Crypto currency was supposed to
be about?

I think BTCD will be in pretty high demand just so people can stake with it and get free teleporting for the commodity coins, like bitcoin

This I don't understand at all. How can owning BTCD give me commodity coins?
I need a reason I can understand to continue buying these coins and holding on to them.
I just thought they were a truly anonymous coin and for me that signalled an edge over some.
Thats why I started buying them.

[jl777]

Speaking of which. Do you know when your NXTforex will be up on the AE James?

Realistically that falls into the "bringing real world trading to crypto" project, which I have on my calendar for next year and it will be one of the first real world tradings I bring to InstantDEX. gold and oil are the other two markets, maybe commodities, stocks, not sure of order. Still need to work out some third party deals for trade clearing

James

[SpringfieldM1A]

The fact that people worry about privacy oriented banking cards being "criminal" is sad really. When I desire to take financial matters back into my own hands, without having to give up my entire identity, is that criminal? I literally have done nothing criminal in my life ever, in my 30+ years of driving I haven't even gotten a citation. My desire to be (financially) private stems from the human right to privacy, it's my Life, Liberty and my pursuit of Happiness if you will, it has nothing to do with trading illicit substances or other nefarious activities. Criminals will use any infrastructure to carry out their business, they shop groceries, they drive cars, go to cinemas etc etc, just like you and me. When we do those things, does that make us criminals too? Of course not.

I am looking forward to the BTCD anon cards, besides like James said, it's even impractical for criminals to use them.

[jl777]

Lots of hold hold hold. yes, that is what Ive been doing.

But how does that help me as an investor in this coin.
How does that help spread usage of this coin

Selling doesnt help spread usage either.
I think BTCD will be in pretty high demand just so people can stake with it and get free teleporting for the commodity coins, like bitcoin

Think of owning BTCD like owning a membership that allows access to valuable services. Sort of like a passport, the more BTCD you have the more things you can do.

BerkshireHathaway stock is primarily a HODL stock, possibly the original HODL. It seems have done quite nicely over the years

James

I agree selling doesnt help spread usage. But actively trying to promote teh coin outside of the tech lab does.
Anyway, I see now this is not a coin intended for such usage. But isnt that what Crypto currency was supposed to
be about?

I think BTCD will be in pretty high demand just so people can stake with it and get free teleporting for the commodity coins, like bitcoin

This I don't understand at all. How can owning BTCD give me commodity coins?
I need a reason I can understand to continue buying these coins and holding on to them.
I just thought they were a truly anonymous coin and for me that signalled an edge over some.
Thats why I started buying them.

How much does it matter if you have USD, EUR or YEN?
If you have $1000 worth, then other than hassle of converting, it is all the same isnt it?

So, if you have 1 BTC or 1 BTC worth of BTCD, what is the difference?
As far as the buying power (ignoring conversion overheads) no difference. So, crypto is crypto is crypto, with automatic low overhead conversions, you should be able to view crypto not as any specific currency, but more a vector of possible currencies. OK, that came out too complicated.

Do you know of the pens that have different colors? You click the red thing to make it write red, the blue for blue, etc.? I see crypto like that. If you want BTC, click BTC, if you want BTCD click BTCD.

So, fiat -> crypto (of any color)

Now, if you want quick conversion less access to do purchasing, BTC seems to make sense. maybe for highly traded coins with enough liquidity for your uses and low spreads, you can keep it in other coins that have better properties than BTC.

Once such property is 5% per year staking. BTC mining has a built in ~8% deflation. Since not everybody is staking, with BTCD if you are staking you are actually getting net positive interest, I estimate 1% to 2%.
BTCD will also be getting some revenue sharing, but it will also let you teleport itself and other coins for free. It gives you access to InstantDEX, privacyServer is built right in, etc.

BTCD is more than just a coin, it is hard to explain in few words. As it is gaining a lot of power relatively quickly, I am expecting it to grow in value faster than BTC for a while. So, in addition to other benefits I think medium term price appreciation is another.

I leave to you if you believe these are enough reasons to hodl, if not I am sure there are others ready to buy from you

James

[jd1959]

I don't know what anyone else thinks, but I like the idea of free teleporting as combo of Time and usage

maybe something like 12 months or 10000  transfers. When one of the conditions are meant free period ends.

I think it's at least something to consider.....would maybe make it a bit interesting if there was a countdown clock of how many freebies where left to use

I'm sure you guys will come up with something that's functional

Jon

[jl777]

The fact that people worry about privacy oriented banking cards being "criminal" is sad really. When I desire to take financial matters back into my own hands, without having to give up my entire identity, is that criminal? I literally have done nothing criminal in my life ever, in my 30+ years of driving I haven't even gotten a citation. My desire to be (financially) private stems from the human right to privacy, it's my Life, Liberty and my pursuit of Happiness if you will, it has nothing to do with trading illicit substances or other nefarious activities. Criminals will use any infrastructure to carry out their business, they shop groceries, they drive cars, go to cinemas etc etc, just like you and me. When we do those things, does that make us criminals too? Of course not.

I am looking forward to the BTCD anon cards, besides like James said, it's even impractical for criminals to use them.

Actually if you are living in USA, you are probably a criminal as there are many many laws and they have intentionally made them so some contradict others. That means you cant follow one without breaking another and probably a third law that says if you dont follow one or the other of the contradictory laws, you are breaking the third law

All this is so that they can always leverage anybody they choose to, to make them cooperate, capitulate, pay fines, etc.

Did you know that the crypto math algorithms were classified as illegal munitions in USA? It was like having a bunch of C4 explosives if you dared to encrypt anything! Thank goodness for DJB who sued and beat the USA govt on that one

James

P.S. I dont mean to offend any of the USA peoples, they are best peoples, it is just the govt has run amok and gone totally power grabbing crazy. What is this eminent domain things? They just take your private land and give to real estate developer since the neighborhood really, really, needs more shopping stores