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ShadowBits
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November 10, 2014, 02:28:52 PM |
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Soo wait a minute - why would someone need equipment to stake? Seems to me unnecessary. Also it doesn't take an economist to figure out with the inherently outrageous coming inflation keeping the price above levels that will make it profitable for the average investor seems to be a pipe dream.
(I mined some of these coins which is why I'm even here - but I don't like being surrounded by red flags)
My biggest concern is the wallet looks like a copy paste clone.(reminds me of flexible) I would update that immediately.
I think you need to reread the whole thread, and check your risk tolerance. According to devs, HTML5 wallet is in development, final stages. Often devs will launch with a known working clone wallet and update with uniqur features later once miners and early buyers have a captive investment with some expectation of value locked in. Damn right it's a copy paste clone-- of something that just works, for a smooth launch and mining process. 200% stake is a second phase of distribution trending toward maximum supply and intended to generate short term price support as the only way to acquire future XNAN is to buy current XNAN. Stake percentage was defined in the original announcement and should have factored in to your decision of whether or not to mine this coin. No equipment is required to stake. I don't know where you got that from, apart from a complete misunderstanding of the follow-up dev announcement about selling bitcoin mining hardware denominated purely in XNAN. Ok you're right, about the hardware.(my opinion)As for risk tolerance I sold what I mined already so that boat has sailed. But my point about inflation isn't about risk - but reality. Bitcoin has a $12-16 million dollar a day trading average and is in a long decline with only 16% inflation. Granted a million variables can't account for that but if this coin is anything like the other 99% Only a few people will hold them, and with that inflation the dumps will be epic. Where do you think the price should be right now out of curiousity. For the record I'm completely ambivalent to P&D I'm an investor, not a moral crusader. Everyone should remember we are dealing with complex systems here and making absolute statements on such shaky ground is something I wouldn't do. Like you said, "granted a million variables can't account for that". Some of the only points I will make are these. Most coins/wallets are clones or based on one with modification, so that in itself does not nullify this coins worth. As a clone, this is probably a clone of one of the best looking wallets out there. The wallet isn't just aesthetic, is also has utility and built-in features. Bitcoin as a comparison is a dinosaur. The only thing it has going for it is it is a popular dinosaur. Staking has the value of allowing further coin creation to happen after mining has occurred, inviting/encouraging saving behavior as opposed to short-term gratification. There is a risk, but all risk have greater rewards. The coin doesn't have to do much more as it is when you compare it to Bitcoin the dinosaur. A store is nice, but ultimately, I find the markets have to find purposes for coins, not the developer. Developer should mostly worry about making the most accessible, aesthetic, utilitarian, and practical coin/wallet/platforms as possible. Asking him to make you a market for the coin is like asking me to find things you are passionate about. Only you know that  Sorry, a bit of a rant. Also, if people come in here and aren't newbs asking about stupid things, then you know the coin is probably worth something since people are attempting to lower the value further to acquire cheap coins. Weak hands will allow this Lol dude get real.. Wake up Thanks for the maturity and constructive criticism. Are you 12 per chance? I have no time arguing for a two day old project that was exposed as a blatant copy from a coin that failed hard about a week ago. This is not darkcoin, xc or something like that All the "ideas" i have heard lots of times Well people are attempting to revive (respark) Sparkcoin if that's what you are referring to. Just felt you were being a bit harsh. I write over a paragraph for someone to just write 1.5 sentences in a condescending tone. I would of preferred an actual response that I can reply to instead of something belittling me is all. I'm sure you are normally a pleasant person otherwise, just wish the post would depict more. The dev. is still working on this project, unlike the original Sparkcoin, so lets give this coin a fighting chance? |
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ocminer
Legendary
 Offline
Activity: 2660
Merit: 1240
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November 10, 2014, 02:43:16 PM |
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Ok i apologize, i am currently on my Mobile so it takes ages to write something longer, i will Look later and Let's just see where this is in a week or two.
I just not feel right if someone just ditches a project which had a forking Problem, Let's the community and the pools Deal with it and launches a New project with the same Code a week later
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suprnova pools - reliable mining pools - #suprnova on freenet https://www.suprnova.cc - FOLLOW us @ Twitter ! twitter.com/SuprnovaPools |
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ShadowBits
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November 10, 2014, 02:52:10 PM |
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Ok i apologize, i am currently on my Mobile so it takes ages to write something longer, i will Look later and Let's just see where this is in a week or two.
I just not feel right if someone just ditches a project which had a forking Problem, Let's the community and the pools Deal with it and launches a New project with the same Code a week later
I understand and apology accepted. It is frustrating to write on smart phones =/ And if this is the same developer as Sparkcoin, I wouldn't support this project. Developer claims to NOT be the same developer as Sparkcoin. I can't vouche for this and all I am going by is developers word. I am biased as I did like the idea of Sparkcoin and its interface but its rather frustrating what happened with the forking. However, that coin is in luck because the only pools which forked with Binpools (Russian mining pool) and some other lesser mining pool. The biggest mining pools such as Suchpool, Suprnova (your pool I believe was one of the pools which hosted it), and Miningpools (I believe), were unaffected, so lets just keep perspective of situation in all this. Not all is lost/tainted. I personally don't understand how a hard fork can be created while mining but as a friend of mine explained it to me metaphorically, the more people mine, the more the chain can get "warped". Not sure how accurate this is. I'm open to a more accurate description or metaphor if one is provided though. |
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egyptocoin
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November 10, 2014, 04:44:53 PM |
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Soo wait a minute - why would someone need equipment to stake? Seems to me unnecessary. Also it doesn't take an economist to figure out with the inherently outrageous coming inflation keeping the price above levels that will make it profitable for the average investor seems to be a pipe dream.
(I mined some of these coins which is why I'm even here - but I don't like being surrounded by red flags)
My biggest concern is the wallet looks like a copy paste clone.(reminds me of flexible) I would update that immediately.
I think you need to reread the whole thread, and check your risk tolerance. According to devs, HTML5 wallet is in development, final stages. Often devs will launch with a known working clone wallet and update with uniqur features later once miners and early buyers have a captive investment with some expectation of value locked in. Damn right it's a copy paste clone-- of something that just works, for a smooth launch and mining process. 200% stake is a second phase of distribution trending toward maximum supply and intended to generate short term price support as the only way to acquire future XNAN is to buy current XNAN. Stake percentage was defined in the original announcement and should have factored in to your decision of whether or not to mine this coin. No equipment is required to stake. I don't know where you got that from, apart from a complete misunderstanding of the follow-up dev announcement about selling bitcoin mining hardware denominated purely in XNAN. Ok you're right, about the hardware.(my opinion)As for risk tolerance I sold what I mined already so that boat has sailed. But my point about inflation isn't about risk - but reality. Bitcoin has a $12-16 million dollar a day trading average and is in a long decline with only 16% inflation. Granted a million variables can't account for that but if this coin is anything like the other 99% Only a few people will hold them, and with that inflation the dumps will be epic. Where do you think the price should be right now out of curiousity. For the record I'm completely ambivalent to P&D I'm an investor, not a moral crusader. I'm a speculator, though I do care about crypto long-term too. I thought the same way as you about seemingly unsustainable stake inflation until I actually observed the marketplace and learned more about the staking process. I refused to mine Truckcoin when it came out-- it was the first coin with 200% PoS-- and missed out on a very easy chance to 15x-25x my speculation on a quick turnaround. More recently, I could have held Snowballs for a lot longer than I did, and that coin stakes at 5000% per year (not a typo). In terms of short-run economics, stake is simply supply distribution. It is not economically equivalent to compound interest because of coin age and time to stake: coins only earn stake when they've sat untransacted through stake age. Each transaction reduces the effective total inflation, short term. I have no opinion on where price should be, sorry. +1 +3 Thanks for answering my questions. |
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Mr.Joker
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November 10, 2014, 05:12:37 PM |
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Think price will fall to 2000 first.
ah well, it fell to 1700-1800 |
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Nanite (OP)
Newbie
Offline
Activity: 14
Merit: 0
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November 10, 2014, 06:07:43 PM |
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By rough estimate, do you mean you expect xnan to be work 16000 Satoshi at the time of your launch?
Or is this # based on the current market price?
This is quite clever, hopefully there is plenty of inventory to backup the demand and drive up the price to the correct levels to match the costs. Seems too good to be true. As stated, there is limited stock at the start and we will be making sure that you are ordering an in stock or a waiting list item. Soo wait a minute - why would someone need equipment to stake? Seems to me unnecessary. Also it doesn't take an economist to figure out with the inherently outrageous coming inflation keeping the price above levels that will make it profitable for the average investor seems to be a pipe dream.
(I mined some of these coins which is why I'm even here - but I don't like being surrounded by red flags)
My biggest concern is the wallet looks like a copy paste clone.(reminds me of flexible) I would update that immediately.
The mining equiptment is actually for mining Bitcoin (or SHA-256d clones) and is only as a working example of how our Merchant/Point of Sale systems work before open sourcing them. Think of it as a working beta, that you can actually buy mining equiptment with XNAN. Think price will fall to 2000 first.
ah well, it fell to 1700-1800 Indeed it has, and we are unsure what it will do from now. If the price keeps dropping the price for mining equipment will rise once our Merchant tools etc are ready to be tested. Our current Market Cap is 19BTC (~7,000 USD) which we think is rather low, but who knows where we will go next |
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whatdidshedo
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November 10, 2014, 06:53:29 PM |
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i don't download many wallets usually but this is my first with this kind of look, it looks nice compared to same old wallet looks... good luck
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incognitoworker
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November 10, 2014, 08:53:52 PM
Last edit: November 10, 2014, 09:11:56 PM by incognitoworker |
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Anyone experiencing not recieving withdrawal from bitrex?? Bitrex reports as completed, but nothing arrive in wallet...  EDIT:It arived finaly, all good again!  |
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ret
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November 10, 2014, 09:18:56 PM |
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Think price will fall to 2000 first.
ah well, it fell to 1700-1800 And again to 7k sat? |
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ShadowBits
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November 10, 2014, 10:14:40 PM |
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Think price will fall to 2000 first.
ah well, it fell to 1700-1800 And again to 7k sat? I don't see why it shouldn't  |
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anticlimax
Legendary
Offline
Activity: 1050
Merit: 1000
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November 10, 2014, 10:23:58 PM |
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Can you produce a quote at current market levels for the products you intend to sell for xnan?
This has the same feeling to it as payprocoin.
"our coin will be worth 5x what it is now in a week due to X factor"
You obviously won't be selling these units for a loss, let alone hold all the xnan you are receiving..
Seems like you will either have to sell xnan into btc causing downwards pressure on the market or hold a bag of extremely volatile coins with the hope that the price doesn't flatline.. In turn causing you to lose your investment of time and money..
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twitter @antiiclimax
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threedream
Sr. Member
Offline
Activity: 364
Merit: 250
Stand up , Stand up , Stand up !
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November 11, 2014, 01:08:44 AM |
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There are people buying ? 10 staoshi ? I will buy |
I have to get back all the lost .
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threedream
Sr. Member
Offline
Activity: 364
Merit: 250
Stand up , Stand up , Stand up !
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November 11, 2014, 10:30:39 AM |
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Can buy it ? Seems dead, right ? |
I have to get back all the lost .
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egyptocoin
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November 11, 2014, 04:32:30 PM |
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So at what point do I become right?
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ShadowBits
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November 11, 2014, 07:02:41 PM |
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So at what point do I become right?
Idk, I'm holding some waiting for a random pump. It happens too often, lol. |
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egyptocoin
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November 11, 2014, 07:40:53 PM |
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So at what point do I become right?
Idk, I'm holding some waiting for a random pump. It happens too often, lol. More than likely there will be a shakeout then mass exodus like usual. I usually never trade alts after the second day it's usually pain staking. I'm going to try to sell-off at a loss and then buy back cheaper, the 16 mark can easily be chopped to 11. And done. Now watch the network stake sink, and then you buy back. |
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andrepierre
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November 11, 2014, 08:15:02 PM |
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Would be nice if the dev reassure us he stay with his roadmap, otherwise this coin will just die.
I also think OCMiner was a bit unfair with his comments and the way he done it.
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NobodyYouKnow
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November 11, 2014, 08:16:49 PM |
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So at what point do I become right?
Idk, I'm holding some waiting for a random pump. It happens too often, lol. More than likely there will be a shakeout then mass exodus like usual. I usually never trade alts after the second day it's usually pain staking. I'm going to try to sell-off at a loss and then buy back cheaper, the 16 mark can easily be chopped to 11. And done. Now watch the network stake sink, and then you buy back. I'm sure when the new wallet comes out and we continue progress the price will shoot up again! |
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