[ANN] [KEY] KeyCoin | Fair Launch | Daily Updates | 8/9 Status Update

[Petr1fied]

Petr1fied, thank you so much for dealing these fudders for now. You're a champ!

No problem. Honestly does the guy have nothing better to do? 

[Bagpipe]

When a coin has such a dedicated Fudder like this guy, you know it's a good coin.

No, you know it's a good coin if it can be cornered. That is possible if only small amount of coins is issued in a short amout of time (the case of KEY) and all those that are volatile can be purchased for cheap and the price then substantially driven up. You can work on from there to repeat the cycle a few times. Historically the highest amount of a single stock sold by this method was about 1 billion USD worth. It works on the stock market as well as it works in the keys, the difference is that the stock market now has a watchdog and tons of regulation, while the crypto has none.

It thus attracts all kinds of adventurers, ready to explore or exploit the market.

[pr0m3theus2013]

Like you right now, trying to exploit the market with fud. In a regulated market, what you're doing would get you locked up.

When a coin has such a dedicated Fudder like this guy, you know it's a good coin.

No, you know it's a good coin if it can be cornered. That is possible if only small amount of coins is issued in a short amout of time (the case of KEY) and all those that are volatile can be purchased for cheap and the price then substantially driven up. You can work on from there to repeat the cycle a few times. Historically the highest amount of a single stock sold by this method was about 1 billion USD worth. It works on the stock market as well as it works in the keys, the difference is that the stock market now has a watchdog and tons of regulation, while the crypto has none.

It thus attracts all kinds of adventurers, ready to explore or exploit the market.

[smille]

I find it odd that all the people who claim to understand exactly how this "game" works seem to be the most butthurt all the time. It looks like they don't know how to take advantage of their special super sekret information.

[pr0m3theus2013]

They are all members of the same fud team. Its all good their fud has 0 impact on price but it's a good laugh.

I find it odd that all the people who claim to understand exactly how this "game" works seem to be the most butthurt all the time. It looks like they don't know how to take advantage of their special super sekret information.

[RichardT]

When a coin has such a dedicated Fudder like this guy, you know it's a good coin.

Agree. Still a lame disguised attempt at FUDding.

This could be a feature.  Could be marketed as:  "Not only do we have a highly dedicated dev team, we also have our own dedicated Fudder to help weed out the weak hands"  Or: "We have our very own dedicated Fudder to help keep this rocket under control before blast off".

[TheNewsHasCome]

When a coin has such a dedicated Fudder like this guy, you know it's a good coin.

Agree. Still a lame disguised attempt at FUDding.

This could be a feature.  Could be marketed as:  "Not only do we have a highly dedicated dev team, we also have our own dedicated Fudder to help weed out the weak hands"  Or: "We have our very own dedicated Fudder to help keep this rocket under control before blast off".

What's the point anymore? Key is being vetted by Bittrex and receiving a 7/7 trust score.

[RichardT]

What's the point anymore? Key is being vetted by Bittrex and receiving a 7/7 trust score.

I was kidding.  My bad if that was not obvious lol

[pbremen01]

It depends on individual transactions (and their value) and the coin age. If someone is staking then a minimum cycle is 8 hours so someone could lets say deposit 1000 into their wallet and approximately 8 hours later:

What do you mean by minimum cycle? It seems that certain addresses mine PoS block much faster.

They get 0.01 interest (this is purely an example value to simplify this explanation) and such get returned 2 new transactions. One of which is for 500, the other for 500.01.

This is not correct. AFAIK there is only one PoS transaction in each PoS block. This transaction can have one or more outputs.

Approximately 8 hours later:

The previous transaction for 500 splits and returns one transaction for 250, one transaction for 250.005

The previous transaction for 500.01 splits and returns one transaction for 250, one transaction for 250.0125

At this stage, one initial deposit has become 4 transactions and this process keeps repeating at approximately 8 hour intervals if a wallet is left open for staking. On the next cycle there are 8 transactions, then 16, then 32, then 64. etc.

What exactly don't you grasp about this concept?

This is not possible. Such exponential growth would quickly cause blockchain to use enormous amounts of disk space. For example, if the number of "transactions" double in every period that lasts 8 hour, then in 1 month there will be 30*8 doublings.

2^240 = 1766847064778384329583297500742918515827483896875618958121606201292619776

This is enormous number.

[vectisitch]

been a quiet day today,,,,,,,,,,, ,,i don't like it

[smille]

been a quiet day today,,,,,,,,,,, ,,i don't like it

The devs posted two updates yesterday...

[damiano]

been a quiet day today,,,,,,,,,,, ,,i don't like it

It's Sunday and it's Summer time.  Everyone should be outside enjoying what they can.

[smille]

I just noticed that pbremen posted something, but I have him on ignore!

Feels good, but be careful wading through his crap posts guys...you might get some on yourselves:

[keycoin]

been a quiet day today,,,,,,,,,,, ,,i don't like it

relax, its sunday

KeyOS team members are working hard, here's our last inside team communication.

GU: I need your help to find an theme that matches the new KEY video green / electronics for gdm3 / debian so I have more time to do other touchups please forward your idea's to KEY OS channel in (edited)

Functionally the beta is mostly done and we are working to make it look presentable.

Will have a more structured update tonight.

[Boomsling]

been a quiet day today,,,,,,,,,,, ,,i don't like it

relax, its sunday

KeyOS team members are working hard, here's our last inside team communication.

GU: I need your help to find an theme that matches the new KEY video green / electronics for gdm3 / debian so I have more time to do other touchups please forward your idea's to KEY OS channel in (edited)

Functionally the beta is mostly done and we are working to make it look presentable.

Will have a more structured update tonight.

Looking forward to the beta,  thanks for taking time out to update the thread.

Sunday should be funday

[tk808]

KeyCoin (KEY) Reviewed, Scored & More. Now on CoinsSource.com - Your digital Currency Source

http://www.coinssource.com/crypto-coins/keycoin/

[Petr1fied]

It depends on individual transactions (and their value) and the coin age. If someone is staking then a minimum cycle is 8 hours so someone could lets say deposit 1000 into their wallet and approximately 8 hours later:

What do you mean by minimum cycle? It seems that certain addresses mine PoS block much faster.

They get 0.01 interest (this is purely an example value to simplify this explanation) and such get returned 2 new transactions. One of which is for 500, the other for 500.01.

This is not correct. AFAIK there is only one PoS transaction in each PoS block. This transaction can have one or more outputs.

Approximately 8 hours later:

The previous transaction for 500 splits and returns one transaction for 250, one transaction for 250.005

The previous transaction for 500.01 splits and returns one transaction for 250, one transaction for 250.0125

At this stage, one initial deposit has become 4 transactions and this process keeps repeating at approximately 8 hour intervals if a wallet is left open for staking. On the next cycle there are 8 transactions, then 16, then 32, then 64. etc.

What exactly don't you grasp about this concept?

This is not possible. Such exponential growth would quickly cause blockchain to use enormous amounts of disk space. For example, if the number of "transactions" double in every period that lasts 8 hour, then in 1 month there will be 30*8 doublings.

2^240 = 1766847064778384329583297500742918515827483896875618958121606201292619776

This is enormous number.

You realise you're coming off as an imbecile right? You can't even grasp the basic functionality of Proof Of Stake.

You're not guaranteed to stake in 8 hours, that is just the bare minimum a transaction becomes eligible. The difficulty increases to compensate and average out the block generation to the defined speed, just as it does with Proof Of Work.

[Tron2013]

may be interessting regarding

    
Prometheus and his group are pumping Keycoin. (Exchange corruption, evidence!)

https://bitcointalk.org/index.php?topic=718100.0

[keycoin]

been a quiet day today,,,,,,,,,,, ,,i don't like it

relax, its sunday

KeyOS team members are working hard, here's our last inside team communication.

GU: I need your help to find an theme that matches the new KEY video green / electronics for gdm3 / debian so I have more time to do other touchups please forward your idea's to KEY OS channel in (edited)

Functionally the beta is mostly done and we are working to make it look presentable.

Will have a more structured update tonight.

We have a great article verifying our trust rating from Coins Source:

http://www.coinssource.com/crypto-coins/keycoin/

[smille]

Tron, everyone knows who is involved with/backing this coin.

Please go back to where you came from.