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Author Topic: A story about Fred, the MMXIV Prospector  (Read 7191 times)
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AdamWhite
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February 23, 2015, 11:16:20 PM
 #21

Great for fred, what about the ones that bought at 0.02 a week ago Angry Roll Eyes
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Mortimer452
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February 23, 2015, 11:26:11 PM
 #22

Great for fred, what about the ones that bought at 0.02 a week ago Angry Roll Eyes

Just hold on and stake.  Every 2 weeks, your balance doubles.  In a month, it quadruples.  One month of staking earns enough coins to make up for a 75% drop in price.

It takes about 40 days of daily compounding at 5.5% to reach 10x your original balance.  You don't lose any money until you sell at a loss.  STAEK AND HODL


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February 24, 2015, 02:27:27 PM
 #23

Fred's Story: The other half.

Fred goes around telling everybody about how much money he has made!  Fred's friends buy and the friends of the those friends buy, and then the devs dump the shit out it.  Fred and his buddies are left holding a bag. 

MONEY IS NOT FREE

If it can be digitized, it should be decentralized
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February 24, 2015, 02:53:21 PM
 #24

Fred's Story: The other half.

Fred goes around telling everybody about how much money he has made!  Fred's friends buy and the friends of the those friends buy, and then the devs dump the shit out it.  Fred and his buddies are left holding a bag.  

MONEY IS NOT FREE

Except we are all well known addresses that are easily watched on the Rich List and have only been accumulating. Nice theory, though

KNOWLEDGE IS FREE

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February 24, 2015, 04:17:50 PM
 #25

Fred's Story: The other half.

Fred goes around telling everybody about how much money he has made!  Fred's friends buy and the friends of the those friends buy, and then the devs dump the shit out it.  Fred and his buddies are left holding a bag. 

MONEY IS NOT FREE

If this were the case, the "devs" would have all run off by now.  Just keep an eye on this thread, I will update it every week, good news or bad.

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February 26, 2015, 05:24:47 PM
 #26

ok bought some coins & they've been in my desktop wallet for 24 hours.
First Proof-of-Stake coin for me.
Read through ANN thread for an hour but couldn't find what I need to know.  Wasn't sure exactly when the higher % POS started.
sorry to ask the basics but...
Do I need to do anything now or will the coins just start staking when they mature?
I'm on a laptop.  Does it need to remain switched on & not sleeping all the time?
Or can I switch it of?  What about the wallet?  does it have to be open to be staking?
Thanks very much
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February 26, 2015, 06:00:32 PM
 #27

all questions IMMEDIATELY answered by iGotSpots on MMXIV ANN thread - thanks mate!
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February 27, 2015, 10:56:21 AM
 #28

The price falls faster, than Fred can double or quadruple his Wallet.

I bought 60 MMXIV by 0.02 exactly 4 weeks ago.             60MMXIV - 0.02     - 1,2 BTC   / 27.01.2015
Now, after 4 weeks POS, my Balance is 300 MMXIV.        300MMXIV - 0.0014  - 0,42 BTC / 27.02.2015

That is a loss of ~ 0,8 BTC ~ 1400% in 4 weeks

Correct me if i'm wrong.
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February 27, 2015, 02:50:37 PM
 #29

The price falls faster, than Fred can double or quadruple his Wallet.

I bought 60 MMXIV by 0.02 exactly 4 weeks ago.             60MMXIV - 0.02     - 1,2 BTC   / 27.01.2015
Now, after 4 weeks POS, my Balance is 300 MMXIV.        300MMXIV - 0.0014  - 0,42 BTC / 27.02.2015

That is a loss of ~ 0,8 BTC ~ 1400% in 4 weeks

Correct me if i'm wrong.

Your math is correct but I think you are being a little short-sighted.  No market is trending up 100% of the time.  Long term average gains are what matters.  You never lose money until you sell at a loss.

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February 27, 2015, 05:45:09 PM
 #30

The price falls faster, than Fred can double or quadruple his Wallet.

I bought 60 MMXIV by 0.02 exactly 4 weeks ago.             60MMXIV - 0.02     - 1,2 BTC   / 27.01.2015
Now, after 4 weeks POS, my Balance is 300 MMXIV.        300MMXIV - 0.0014  - 0,42 BTC / 27.02.2015

That is a loss of ~ 0,8 BTC ~ 1400% in 4 weeks

Correct me if i'm wrong.
Actually the math is wrong. You can never lose more than 100%. Your theoretical loss as calculated above is 65% [(1.2-.42)/1.2]
The only thing that can stop the slide in price is an increase in demand. The supply from sellers grows every day as their staking generates more coin. As has been pointed out before, the hope for coin holders is that the rate of staking exceeds the decline in price.
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March 07, 2015, 12:02:55 AM
 #31

Time for an update!
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March 12, 2015, 05:02:06 PM
 #32

OK, thread abandoned. No more updates.
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March 12, 2015, 06:33:52 PM
 #33

OK, thread abandoned. No more updates.

Next weeks headline, Fred, the beloved investor, was found hanging in his run down apartment after a call from concerned neighbors. It was an apparent
suicide. The whole place was trashed and police are still trying to decipher the many written Roman numerals and mathematical formulas covering the walls and floors.

More updates to follow....
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March 12, 2015, 06:41:27 PM
 #34

OK, thread abandoned. No more updates.

Next weeks headline, Fred, the beloved investor, was found hanging in his run down apartment after a call from concerned neighbors. It was an apparent
suicide. The whole place was trashed and police are still trying to decipher the many written Roman numerals and mathematical formulas covering the walls and floors.

More updates to follow....

  LOL.... 

  To bad we can't see the bad with the good.  When you make assumptions and things look to good to be true, they usually are.  It would still be nice to follow the numbers even if they are not good news.  We can still learn from our failures...   

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March 12, 2015, 07:54:09 PM
 #35

LOL

I doubt this guy is taking any losses  Roll Eyes
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March 12, 2015, 08:17:57 PM
 #36

LOL

I doubt this guy is taking any losses  Roll Eyes

I don't mind watching a long term play go down in the short

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March 13, 2015, 04:19:27 PM
 #37

LOL

I doubt this guy is taking any losses  Roll Eyes

I don't mind watching a long term play go down in the short
Then why no updates? We only get an update after it goes back up?
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March 13, 2015, 07:03:47 PM
 #38

Update March 13
Been awhile, but the update is below.  Prices for BTC/USD are taken from the Winkdex and prices for MMXIV/BTC are from the Bittrex daily chart.

BLUE line indicates BTC/USD value expressed in $USD
RED line indicates size of MMXIV wallet expressed in MMXIV
GREEN line indicates $USD value of MMXIV wallet


Based on MMXIV's 2014% annual interest rate, compounded daily, on March 12, 2015 his wallet now contains 2,224.57 MMXIV, well over 100 TIMES the coins he originally purchased.  His ending MMXIV wallet is worth $402.52 or BTC1.36

The price of BTC/MMXIV decreased by 96.78%
The price of BTC/USD dropped by 16.02%
The $USD value of Fred's MMXIV wallet increased by 200.37% from $134.01 to $402.52
The BTC value of Fred's MMXIV wallet increased by 257.68% from 0.38 BTC to 1.36 BTC

MMXIV's market price has dropped a lot in the past month or so.  Thankfully, MMXIV's powerful 5.5% daily compounding has prevented further loss - in fact, Fred is still ahead over 200% from his initial investment.  He is far, far better off than he would have been if he'd just left that BTC in his wallet.

You can see how how INSANELY FAST his MMXIV wallet is growing now.  This is the power of compounding interest.  With a balance of 2,224.57 MMXIV, he is earning roughly 122 MMXIV per day, worth about 0.07 BTC per day.  This is with ZERO overhead costs for mining hardware or electricity.

Based on current rates from CoinWarz it would take about 7 TH worth of mining power to earn 0.07 BTC per day.  Let's break down the cost:

Mining hardware:
6x Antminer S5 at 1.1TH each:   BTC1.28 * 6 = BTC7.68 ($2,214) initial investment
Power consumption 590w * 6 = 3,540W
$0.10 per KwH (if you're lucky) means these miners cost $0.35/hr to operate, roughly $252 per month
Initial investmentBTC7.68 or $2,214
Monthly operating cost: ~BTC0.87 or $252
Daily operating cost: BTC0.029 or $8.352
Daily earningsBTC0.07 or $20.16
Daily profit: BTC0.041 or $11.80
Days to ROI: 187days at BTC0.041 profit per day


Staking with MMXIV:
Purchase of 2,224 MMXIV:  BTC1.44 or $414.72
Purchase of Snowball staking hardware: BTC0.35 or $99.99
Power consumption: Negligible - runs on your PC which is on all the time anyway, or the Snowball which uses only 5 watts
Initial investment: BTC1.79 or $514.71
Monthly operating cost: BTC0.001 or $0.36 (based on 5W Snowball)
Daily operating cost: BTC0.000034 or $0.01
Daily earnings: BTC0.07 or $20.16
Daily profit: BTC0.069966 or $20.15
Days to ROI: 25.6 days at BTC0.069966 profit per day


As before, if you doubt any of this, the raw data used to perform these calculations can be found here.

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March 26, 2015, 07:13:28 PM
 #39

Fred must be loving this stagnant price. Making more doing nothing than he would chasing pumps

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April 10, 2015, 09:42:48 PM
 #40

Time for an update!
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