[ANN][BITS][Bitstar] Now on Cryptopia, Nova and Yobit new wallet fork in testing

[T3CLtd]

to lure new investors.

It is the 'luring' of new investors to a coin project which fuels the pump-and-dump scam. As I have said previously, it is quite apparent that many in the cryptocurrency industry need to tone down this expectation they have of being able to throw a few satoshis at an altcoin and it will magically gain an enormous market-cap overnight.

Commerce requires solid economic mechanisms, these mechanisms need sound technical platforms and these platforms take time to develop and implement.

We are all still very much at the vanguard of cryptocurrency and blockchain technologies. Nobody in this industry at this time is late for the party, they've just got to make sure they can figure out the best gift to bring. 

[jakiman]

It is the 'luring' of new investors to a coin project which fuels the pump-and-dump scam. As I have said previously, it is quite apparent that many in the cryptocurrency industry need to tone down this expectation they have of being able to throw a few satoshis at an altcoin and it will magically gain an enormous market-cap overnight.

Commerce requires solid economic mechanisms, these mechanisms need sound technical platforms and these platforms take time to develop and implement.

We are all still very much at the vanguard of cryptocurrency and blockchain technologies. Nobody in this industry at this time is late for the party, they've just got to make sure they can figure out the best gift to bring.  

Well, the word lure is probably not the right word but I'm sure you knew what I meant.

I'm here due to BITS. A vested interest of course. Been with BITS since day 1 of it's PoW.
So I want BITS to become a better & more unique coin (technically and ecosystem wise).
Also for it to be better known, more distributed & of course be worth more in price.

Just a little upset that I still can't buy a Ferrari by selling 'some' of my BITS that's all.
Anways, keep us in the loop. Hopefully we'll get to know more about this side project real soon.

[Bitstar_coin]

Updated fast start pack as requested http://www.mediafire.com/download/0dtqhid6th3olxc/faststart.zip

[QuadraQ]

Updated fast start pack as requested http://www.mediafire.com/download/0dtqhid6th3olxc/faststart.zip

Thank you! I'm now up and running again. Also updated the subreddit.

[QuadraQ]

It is the 'luring' of new investors to a coin project which fuels the pump-and-dump scam. As I have said previously, it is quite apparent that many in the cryptocurrency industry need to tone down this expectation they have of being able to throw a few satoshis at an altcoin and it will magically gain an enormous market-cap overnight.

Commerce requires solid economic mechanisms, these mechanisms need sound technical platforms and these platforms take time to develop and implement.

We are all still very much at the vanguard of cryptocurrency and blockchain technologies. Nobody in this industry at this time is late for the party, they've just got to make sure they can figure out the best gift to bring.  

Well, the word lure is probably not the right word but I'm sure you knew what I meant.

I'm here due to BITS. A vested interest of course. Been with BITS since day 1 of it's PoW.
So I want BITS to become a better & more unique coin (technically and ecosystem wise).
Also for it to be better known, more distributed & of course be worth more in price.

Just a little upset that I still can't buy a Ferrari by selling 'some' of my BITS that's all.
Anways, keep us in the loop. Hopefully we'll get to know more about this side project real soon.

I get upset when I see lesser coins getting more attention/higher prices than BitStar. I know this is a long term game, but some of us (myself included) have been involved for some years so it feels like a long time even though as you say it's still the very early stages.

[jakiman]

I get upset when I see lesser coins getting more attention/higher prices than BitStar. I know this is a long term game, but some of us (myself included) have been involved for some years so it feels like a long time even though as you say it's still the very early stages.

I feel the same. Been with BITS for 2 years or thereabouts. It's a short or long period depending on how you look at it.
In saying that, it seems some(one?) are still buying and stocking up BITS. Hopefully that's a good sign!

[Breasal]

I get upset when I see lesser coins getting more attention/higher prices than BitStar. I know this is a long term game, but some of us (myself included) have been involved for some years so it feels like a long time even though as you say it's still the very early stages.

I feel the same. Been with BITS for 2 years or thereabouts. It's a short or long period depending on how you look at it.
In saying that, it seems some(one?) are still buying and stocking up BITS. Hopefully that's a good sign!

Just checking trading history on Polo..really really low volumes. For BITS to get noticed by other investors, there needs to be higher volume. Does anyone reading this thread how to work a trade-bot?

[toilet]

looking to buy 50,000 bits, pm me if you would like to sell them

[T3CLtd]

For BITS to get noticed by other investors, there needs to be higher volume. Does anyone reading this thread how to work a trade-bot?

Please don't do that. Creating a false market isn't helpful. If this new coin experiment works out well then the facts can speak for themselves and we will propose that BITS be burned in future for similarly fair distribution of other projects we have in mind, which would likely result in a great deal of legitimate market interest.

[Breasal]

For BITS to get noticed by other investors, there needs to be higher volume. Does anyone reading this thread how to work a trade-bot?

Please don't do that. Creating a false market isn't helpful. If this new coin experiment works out well then the facts can speak for themselves and we will propose that BITS be burned in future for similarly fair distribution of other projects we have in mind, which would likely result in a great deal of legitimate market interest.

Sorry, burned? I have not read the full thread. What and when are you proposing to burn BITS and what are the proposed projects?

[Mark81]

For BITS to get noticed by other investors, there needs to be higher volume. Does anyone reading this thread how to work a trade-bot?

Please don't do that. Creating a false market isn't helpful. If this new coin experiment works out well then the facts can speak for themselves and we will propose that BITS be burned in future for similarly fair distribution of other projects we have in mind, which would likely result in a great deal of legitimate market interest.

So for investors is best to get some BITS and use them to stake at what is left now  at 25% staking phase for year return and next year at 10%. BITS is one of best performing currency what comes of staking. Staking will be even better with new staking engine from blackcoin V3. Hope that it will reduce Cpu usage as there is complains of that in supernet slack channel.

[T3CLtd]

Sorry, burned? I have not read the full thread. What and when are you proposing to burn BITS and what are the proposed projects?

Please read the OP of this thread for all the information you need. If you have any questions after having read it feel free to post them.

[QuadraQ]

For BITS to get noticed by other investors, there needs to be higher volume. Does anyone reading this thread how to work a trade-bot?

Please don't do that. Creating a false market isn't helpful. If this new coin experiment works out well then the facts can speak for themselves and we will propose that BITS be burned in future for similarly fair distribution of other projects we have in mind, which would likely result in a great deal of legitimate market interest.

My concern is that while I'm interested in new projects, I'd hate to see BITS get abandoned. I'd like to see my investment in BitStar itself prove worthwhile.

[QuadraQ]

Well this is not good news. zpool.ca (previously xpool.ca) has just announced they will be dropping BitStar as a payout option this friday - https://twitter.com/_xpool_/status/707569109496508417 I've been "mining" BitStar this way since the beginning and the regular buying of BitStar on the exchanges that creates has helped keep the price relatively stable at 0.00000900 - 0.00001000 BTC Without a multipool that pays out in BitStar, I fear the price may take a hit. I know everyone is busy, but is there a chance of resurrecting the official multipool, or finding a new multipool who is willing to add BITS as a payout option?

UPDATE: The operator of zpool.ca responded to my tweet complaining about the removal of BITS that the wallet was taking up 50% of his servers CPU all the time, and with more and more miners he can't afford the resources for BITS anymore (at least that was the gist of it).

[T3CLtd]

What gives you the impression that Bitstar is going to be abandoned?

As for the multipool, it is known that most standard PoS wallets suffer CPU usage issues, the replacement wallet and new chain for BITS will resolve that.

[QuadraQ]

What gives you the impression that Bitstar is going to be abandoned?

As for the multipool, it is known that most standard PoS wallets suffer CPU usage issues, the replacement wallet and new chain for BITS will resolve that.

Sorry, perhaps it's more a fear than anything else, but I've invested a lot in BITS for almost the last two years, so I'm well, invested in it's success.

When you say the new wallet are you talking about the one that's based on BlackCoin's way of handling Proof Of Stake interest?

[jakiman]

Just a quick update, new fast start pack will be uploaded tomorrow, and we're working on a new wallet on a totally different code base, tests so far have been going good with the new wallet code, there should be a private headless build in the next week to make Supernet MGW work again, then after another week or 2 testing we'll release windows/mac versions, our plan is to do this whole release without a hard fork.  

Is there a new ETA on this new wallet's release? or ETA on the new project?
Any timeline (subject to change of course) is better than none that's all.

[boacw]

Updated fast start pack as requested http://www.mediafire.com/.../faststart.zip

Thank you very much!

[T3CLtd]

Is there a new ETA on this new wallet's release? or ETA on the new project?

We're hoping that the new coin's wallet will be ready some time next week. A new Bitstarcoin wallet won't be issued until after the distribution of the new coin has been completed and verified.

[jakiman]

On the OP, I noticed this info:

Total PoW+POS coin supply: 54.25 million as of 08/02/16. (PoW ended May 2014 at 15 million)

Is that correct?

Current money supply accoring to block explorer is only 20625470.