[ANN] CryptoSpot - The First Bitcoin Virtual Mining Game

[xPooky]

I think it would be nice if we could sell CS immediately in-game instead of waiting for somebody to pick our CS up on alcurEX and any other market we may enter.

The bitcoin amount doesn't have to be crazy like 5000 satoshi per or whatever but have it at a middle range of the 24 hr high/24 hour low price (300 / 100 would be roughly 200 middle range per CS). This would also keep the market steady without it rapidly deflating overnight like it currently has because it would make it worse for everybody if people dumped CS too cheaply.

You said that Rig Market updates every minute based on alcurEX prices + 5% (which I'm assuming you got  their API integrated with the site) maybe you could use the same method to ensure that the site doesn't pay over the odd's for the satoshi to ensure the system is not exploited something like minimum sell price - 33.33% .

cs will be sold on site, but to much delays
http://www.reuters.com/article/2015/05/09/us-macedonia-police-idUSKBN0NU06X20150509
hope you understand

[krunox123]

I think it would be nice if we could sell CS immediately in-game instead of waiting for somebody to pick our CS up on alcurEX and any other market we may enter.

Don't be greedy, m8.
Everyone want profits.
I admit that I am one of them, but what you asking for is ridiculous.

But if CryptoSpots can be trade instantly for Bitcoin, then, what is the use of CryptoSpots?

Imagine you mine 100k CS today, and the next morning you trade them for Bitcoin on CryptoSpot.
I am sure that CryptoSpots does not have value.

cs will be sold on site, but to much delays
http://www.reuters.com/article/2015/05/09/us-macedonia-police-idUSKBN0NU06X20150509
hope you understand

No need to rush, xPooky.
Take all the time you need.

Remember, rome wasn't built in a day.

[UltraFRS]

I think it would be nice if we could sell CS immediately in-game instead of waiting for somebody to pick our CS up on alcurEX and any other market we may enter.

Don't be greedy, m8.
Everyone want profits.
I admit that I am one of them, but what you asking for is ridiculous.

But if CryptoSpots can be trade instantly for Bitcoin, then, what is the use of CryptoSpots?

Imagine you mine 100k CS today, and the next morning you trade them for Bitcoin on CryptoSpot.
I am sure that CryptoSpots does not have value.

I wasn't trying to be greedy "mate" as you would get more on alcurEX and other market's by selling it there, This is more of a quick solution to those who want to leave the game or those who need satoshi in order to buy a rig because it's going really cheap on the black market or buying some cheap hashpower from the market or just wanting to cashout and can't be bothered to wait for someone to buy it.

This is why I  said the current high price -  33%, The 33% is basically a fee that the user pay's or having a quick payout rather than choosing the market. Also if CS is sold this way it could easily be added backinto the game and keep the value of the block reward at 695 per block rather than it decreasing after 12 months, giving the coins survivabilty.

[krunox123]

I wasn't trying to be greedy "mate" as you would get more on alcurEX and other market's by selling it there, This is more of a quick solution to those who want to leave the game or those who need satoshi in order to buy a rig because it's going really cheap on the black market or buying some cheap hashpower from the market or just wanting to cashout and can't be bothered to wait for someone to buy it.

This is why I  said the current high price -  33%, The 33% is basically a fee that the user pay's or having a quick payout rather than choosing the market. Also if CS is sold this way it could easily be added backinto the game and keep the value of the block reward at 695 per block rather than it decreasing after 12 months, giving the coins survivabilty.

I don't think CS block reward will decrease.

If you read this post: https://bitcointalk.org/index.php?topic=971737.msg10609862#msg10609862

Every month, a total of 1M CryptoSpots will be distributed.
So, in a year there will be a total of 12M CryptoSpots.

CryptoSpots is a premined coin.
So, there will be enough CS for us to mine every month/year.

[UltraFRS]

I meant if just 1 person never sold or used his cryptospots eventually he would have a monopoly on 12 million coins, if that monopoly existed by one person eventually there would be no CS to mine on the site decreasing the block reward to 0.

[xPooky]

I meant if just 1 person never sold or used his cryptospots eventually he would have a monopoly on 12 million coins, if that monopoly existed by one person eventually there would be no CS to mine on the site decreasing the block reward to 0.

since there are CS purchases on site, there will be enough for mining, i will keep % of all sales for mining

[UltraFRS]

I meant if the person who was simply trying to gain monopoly of the coin never bought anything with it essentially giving you 0% to take from a sale because he isn't buying anything. eventually it would all be mined.... eventually. It would have to be minted again at some point if somebody did that wouldn't it?

[xPooky]

I meant if the person who was simply trying to gain monopoly of the coin never bought anything with it essentially giving you 0% to take from a sale because he isn't buying anything. eventually it would all be mined.... eventually. It would have to be minted again at some point if somebody did that wouldn't it?

i would never expect or think it will happen that someone has all 12M+ CS, and also we have 10+ month to think on that so, there is much much time

[krunox123]

I meant if the person who was simply trying to gain monopoly of the coin never bought anything with it essentially giving you 0% to take from a sale because he isn't buying anything. eventually it would all be mined.... eventually. It would have to be minted again at some point if somebody did that wouldn't it?

i would never expect or think it will happen that someone has all 12M+ CS, and also we have 10+ month to think on that so, there is much much time

What if someone has all 12M+ coin and that guy don't want to sell or use any of his CS?
Is it possible if we can still mine CS? No?

[xPooky]

I meant if the person who was simply trying to gain monopoly of the coin never bought anything with it essentially giving you 0% to take from a sale because he isn't buying anything. eventually it would all be mined.... eventually. It would have to be minted again at some point if somebody did that wouldn't it?

i would never expect or think it will happen that someone has all 12M+ CS, and also we have 10+ month to think on that so, there is much much time

What if someone has all 12M+ coin and that guy don't want to sell or use any of his CS?
Is it possible if we can still mine CS? No?

is someone holds all CS, no more mining or trading

[UltraFRS]

You can't do that surely because it's a free trade system, is it not? Also technically it would be classed as market manipulation in my country as you would be trying to control a resource and having a monopoly is illegal ^_^

If someone hold's all CS it just means they dictate the price. Obviously people will buy it IF it's reasonable of course, IF it still had some use.

[xPooky]

You can't do that surely because it's a free trade system, is it not? Also technically it would be classed as market manipulation in my country as you would be trying to control a resource and having a monopoly is illegal ^_^

If someone hold's all CS it just means they dictate the price. Obviously people will buy it IF it's reasonable of course, IF it still had some use.

basicly if someone owns all CS and wants to keep them, coin is considered dead, as there will be no activity at all

[olcaytu2005]

You can't do that surely because it's a free trade system, is it not? Also technically it would be classed as market manipulation in my country as you would be trying to control a resource and having a monopoly is illegal ^_^

If someone hold's all CS it just means they dictate the price. Obviously people will buy it IF it's reasonable of course, IF it still had some use.

basicly if someone owns all CS and wants to keep them, coin is considered dead, as there will be no activity at all

 if you have all bitcoin , noone want to use bitcoin Coz it ll be centralized like this way. All cyrpto coin must be decentralized.

[UltraFRS]

You can't do that surely because it's a free trade system, is it not? Also technically it would be classed as market manipulation in my country as you would be trying to control a resource and having a monopoly is illegal ^_^

If someone hold's all CS it just means they dictate the price. Obviously people will buy it IF it's reasonable of course, IF it still had some use.

basicly if someone owns all CS and wants to keep them, coin is considered dead, as there will be no activity at all

 if you have all bitcoin , noone want to use bitcoin Coz it ll be centralized like this way. All cyrpto coin must be decentralized.

Correct answer ^_^

[krunox123]

is someone holds all CS, no more mining or trading

Geez, this is bad.
I hope nobody will do this to CS.

basicly if someone owns all CS and wants to keep them, coin is considered dead, as there will be no activity at all

Alright, I will start buying them from now!

So, it all depends on whom right now to ensure that CS is always active?
Us?

[UltraFRS]

Coins always depends on their miner's, If no one is actively mining it or buying it or it has no use it's would be dead yes. If someone  control's all coins for a single currency then the coin is dead as it won't be released unless they want to sell it.

It would also spell the end of buying rigs with CS due to the price being dictated by the current price on alcurEX. If one person determined the price of CS on alcurEX they could potentially buy a CS1000 rig for 0.08 CS

[krunox123]

Coins always depends on their miner's, If no one is actively mining it or buying it or it has no use it's would be dead yes. If someone  control's all coins for a single currency then the coin is dead as it won't be released unless they want to sell it.

It would also spell the end of buying rigs with CS due to the price being dictated by the current price on alcurEX. If one person determined the price of CS on alcurEX they could potentially buy a CS1000 rig for 0.08 CS

Alright, thanks for clarifying.
I doubt that someone will have large amount of CS.

Imagine if we can buy CS1000 rig for as low as 0.00000001 CS....

[xPooky]

Coins always depends on their miner's, If no one is actively mining it or buying it or it has no use it's would be dead yes. If someone  control's all coins for a single currency then the coin is dead as it won't be released unless they want to sell it.

It would also spell the end of buying rigs with CS due to the price being dictated by the current price on alcurEX. If one person determined the price of CS on alcurEX they could potentially buy a CS1000 rig for 0.08 CS

Alright, thanks for clarifying.
I doubt that someone will have large amount of CS.

Imagine if we can buy CS1000 rig for as low as 0.00000001 CS....

that will mean that CS price would be something like 1000BTC per coin

[UltraFRS]

could you imagine if it ever was 1000BTC per coin lol :p we would all be multi-millionaires ^_^

[xPooky]

could you imagine if it ever was 1000BTC per coin lol :p we would all be multi-millionaires ^_^

hahahahahahha