[ANN] Wild Beast Block [WBB] on 1ex.trade, no PREMINE, Honest ! - the wild one

[malyan]

WildBeastBitcoin
How many coins there at the moment?

[Lovethecoins]

My bag is full but shit at 6k...

[Lovethecoins]

WildBeastBitcoin
How many coins there at the moment?

Currently 664,980 WBB

https://chainz.cryptoid.info/wbb/

[piebeyb]

My bag is full but shit at 6k...

I know it, bitcoin climbed all may require bitcoin today

I just took the WEB at bargain prices are now waiting for them to throw at low prices !!!

[thoth-Atlantian]

Oh mah gawd!!!

I missed buying at 5k !!!! Bugger

[Lore06]

The problem is that the value of Bitcoin is going up, people sell their altcoins to buy BTC.

BUT what if Bitcoin is going up for months? Chances are big that the value will decrease of WWB. This could be a problem i'm afraid.

[X-Files]

The problem is that the value of Bitcoin is going up, people sell their altcoins to buy BTC.

BUT what if Bitcoin is going up for months? Chances are big that the value will decrease of WWB. This could be a problem i'm afraid.

No problem, Sell your BTC at the top  

or

set your position with lower bids

[TrueAnon]

Selling my ETH, stacking more WBB Easy peazy.

[uki]

The problem is that the value of Bitcoin is going up, people sell their altcoins to buy BTC.

BUT what if Bitcoin is going up for months? Chances are big that the value will decrease of WWB. This could be a problem i'm afraid.

For now it was just a small rise of BTC and it should be completely without any influence on the price of WBB. WBB project is strong enough and have enough support to defend itself from the rising price of Bitcoin. That should be a hard time to all p&d altcoins, but WBB should be quite resistant to it due to its quality. I see the recent price movements in WBB more like someone pushing the price down to acquire more WBB at a lower cost. And that should be read as a good sign.

[thoth-Atlantian]

I think the BTC price rise has been epic. Loads of coins have suffered, I spent 2 days in ETH and sold just in time  More BTC to buy WBB

[uki]

It looks like the buy support is slowly disappearing. Two weeks ago I mentioned 10-12k price target level, now it seems we may hit 5k or below, unless suddenly new buyers pop up. In my opinion shortening of the block time did not work as intended - the goal as the dev mentioned was to get rid of the switching pool and bring on the miners that are interested in holding a bit longer. That has clearly not happened. Quite to the contrary, we have more and more cheap coins that are thrown on the market, and less and less ready buyers as our bags are full already. Now, the are two possible solutions from where we are:
1. wait till block halving to get half-way where we were before the modification of the block time. That means about 125k more blocks. Or 625k more coins to absorb, before halving happens. Nearly double what we have right now and with vanishing buys.
2. move back to the old scheme with 4x longer block time - there is nothing wrong in recognising one's own mistake and fixing it. That means 4x less coins hitting the market in the unit of time. Enough to accommodate with the current buy support.  

[raimch89]

as i told before i agree with #2
inflation is too hight since last change

[thoth-Atlantian]

Halving is only a few months off I think we just wait and buy cheap coins, I am happy to be buying them around 7k with the BTC price going crazy (which may be over)  buys get pulled to wait. it is happening across most coins If we turn the block time back up new people coming could see this period as unfair where we could accumulate coins quickly and cheaply. the support around 7k has been consistent long as were arent languishing at 2k I think it's ok

I am just eagerly awaiting WBB hitting 1ex, I will move all my buying to there, holding off on Trex

[raimch89]

but why buying at 7k if in a month we can buy at 5k or 4k?
it is the risk of hight inflation.
i stopped buying at 9k and now i wait and see what happens
 

[uki]

Let's do the quick math on the size of our (WBB community) pockets to keep the price at 10k per WBB. there are roughly 625k before halving to be mined. Let's say that in the worst case 600k goes to be sold immediately - the history so far shows that despite including individual miners coins are sold immediately anyway.

600k * 10k sat = 6 000 Msat. (100 M sat is 1BTC) = 60BTC. That is the estimated cost of keeping market at the current inflation rate at the 10k price level until halving.
That is over the next 3 months, roughly. That is about 20BTC of selling pressure per month. And only under assumption that out of previously bought coins everybody will hold each and single WBB and won't sell either.

Now, if price drops to 5k (which I wouldn't be surprised at all), the cost would have been 30BTC and 10BTC per month (more sustainable).
That is why, I am concerned.

[thoth-Atlantian]

Let's do the quick math on the size of our (WBB community) pockets to keep the price at 10k per WBB. there are roughly 625k before halving to be mined. Let's say that in the worst case 600k goes to be sold immediately - the history so far shows that despite including individual miners coins are sold immediately anyway.

600k * 10k sat = 6 000 Msat. (100 M sat is 1BTC) = 60BTC. That is the estimated cost of keeping market at the current inflation rate at the 10k price level until halving.
That is over the next 3 months, roughly. That is about 20BTC of selling pressure per month. And only under assumption that out of previously bought coins everybody will hold each and single WBB and won't sell either.

Now, if price drops to 5k (which I wouldn't be surprised at all), the cost would have been 30BTC and 10BTC per month (more sustainable).
That is why, I am concerned.

Thanks, That's handy 

The daily volume has dropped back a little last few days, but has regularly been up around or over 1 btc a day over the last month or so.
So many variables in the equation, when the BTC party stops people will look for good coins to put the profits into, as WBB comes up to halving that could spurn more interest and push up, when added to 1ex and marketing starts,
I think a number of things could still impact the price positively and the only negative is the amount of coins hitting the market each day.

Maybe we let the price hit rock bottom for a few days and drop all the profit miners altogether? let the official pool get a higher cut (3% currently)   
 

[uki]

Thanks, That's handy 

The daily volume has dropped back a little last few days, but has regularly been up around or over 1 btc a day over the last month or so.
So many variables in the equation, when the BTC party stops people will look for good coins to put the profits into, as WBB comes up to halving that could spurn more interest and push up, when added to 1ex and marketing starts,
I think a number of things could still impact the price positively and the only negative is the amount of coins hitting the market each day.

Maybe we let the price hit rock bottom for a few days and drop all the profit miners altogether? let the official pool get a higher cut (3% currently)   

Two quick comments on your ideas:
- definitely, proper marketing actions for WBB and 1Exchange hold the key here. As we are still quite far away from halving (3 months is a long-term in crypto!) that is especially needed to attract these that won recently with BTC surge plus new users. As you correctly pointed out daily volume is slowly decreasing = not many new faces around.
- letting the market drop freely may have its consequences of some earlier holders dropping out to cut the loss - cheaper coins but more than these just mined. plus new coins do not hit market all at once, but at most at the mining speed. That would mean longer period of lower prices. Which again, may cause some more holders to quit.

[WildBeastBitcoin]

Hi,

Due the code change a few things are happening.
1.) The stability is higher as the code has been updated
2.) The diff variable has changed to ensure a big miner with a lot ho hash rate can not stop the chain for a long period of time
3.) Network speed for verification is now 4 times faster than before, this is needed in the long run to ensure a fast transfer is given.
4.) The halving has been brought forward so the coin is halving twice a year now. This will have a positive affect on the coin starting from the first halving cycle in Jan/Feb 2016
5.) Miners have a better chance (smaller miners) against the big rigs as the diff will not go in to the 1000's so easy.
6.) More miners are needed to ensure the free official pool block find rate is increasing.
7.) Price is low at the moment which of course no one likes to see but in the long run it will have a positive impact as the chance to get WBB cheaper is now. Exact how low and when the profit switch will stop we don't know.
8.) It is better now to get these bigger scrypt miners out of the way than in 3 year and have them mining over 3 years. This may look worse but due the quick change it is only for a short period.
9.) There will be more coins in the short run when the first halving happens but total amount of coins will not change.
10.)  WBB will be soon on the 1EX Exchange and this will help WBB.
11.) BTC is seeing a pump at the moment so everyone is trying to get some BTC. This is affecting all ALT coins a little. WBB is however fairly stable during this time.
12.) We tried our best to keep pump & dump groups off it. So far so good. Once the first lot is with coin holders it will be harder for them to pump after coin halving. but lets see and hopefully WBB stay pump clear for a long time. A slow and steady grow is what we are looking for in the long run.


Update:
The last couple of changes to the trade screen will be added today/tomorrow ( small fixes on help icons and ticker). After this we complete the share screen for shareholders and once done we work on the ALT's to get them on the exchange.
So far we are on target with the Exchange and work is going on daily to make 1Ex  one of the best exchanges available. Trade will start to happen slowly over time and people will come to trade on 1Ex once the first alts hit the exchange.
Trading will not be just for ALT's but also for BTC due direct link with the bank CC and the ability to be faster on the trade. This will all benefit the whole WBB / 1Ex business in time.



Thanks

WBB Dev

 

[TrueAnon]

Thanks for update as usual dev, not worried here as I'm comfortable re. the facts know about wbb and where it's heading, along with 1EX....esp since it's a bit longer term.  It's killing me re. the price and I hope 1ex breaths some life into wbb, it's very sad and frustrating to know some ppl are not investing in proper legit coins and just keep playing the usual pnd crap coins.  They'll learn in the end how that will play out negatively in the long run, when they could have been in on the ground floor here safely.  I know you cant control price but with btc the way it is and all alts going to crap right now I htink wbb is holding up ok...hopefully it improves with a bit more time, I'm sure it will.  Looking fwd to 1ex implementation.

[uki]

Hi,

Due the code change a few things are happening.
1.) The stability is higher as the code has been updated
2.) The diff variable has changed to ensure a big miner with a lot ho hash rate can not stop the chain for a long period of time
3.) Network speed for verification is now 4 times faster than before, this is needed in the long run to ensure a fast transfer is given.
4.) The halving has been brought forward so the coin is halving twice a year now. This will have a positive affect on the coin starting from the first halving cycle in Jan/Feb 2016
5.) Miners have a better chance (smaller miners) against the big rigs as the diff will not go in to the 1000's so easy.
6.) More miners are needed to ensure the free official pool block find rate is increasing.
7.) Price is low at the moment which of course no one likes to see but in the long run it will have a positive impact as the chance to get WBB cheaper is now. Exact how low and when the profit switch will stop we don't know.
8.) It is better now to get these bigger scrypt miners out of the way than in 3 year and have them mining over 3 years. This may look worse but due the quick change it is only for a short period.
9.) There will be more coins in the short run when the first halving happens but total amount of coins will not change.
10.)  WBB will be soon on the 1EX Exchange and this will help WBB.
11.) BTC is seeing a pump at the moment so everyone is trying to get some BTC. This is affecting all ALT coins a little. WBB is however fairly stable during this time.
12.) We tried our best to keep pump & dump groups off it. So far so good. Once the first lot is with coin holders it will be harder for them to pump after coin halving. but lets see and hopefully WBB stay pump clear for a long time. A slow and steady grow is what we are looking for in the long run.


Update:
The last couple of changes to the trade screen will be added today/tomorrow ( small fixes on help icons and ticker). After this we complete the share screen for shareholders and once done we work on the ALT's to get them on the exchange.
So far we are on target with the Exchange and work is going on daily to make 1Ex  one of the best exchanges available. Trade will start to happen slowly over time and people will come to trade on 1Ex once the first alts hit the exchange.
Trading will not be just for ALT's but also for BTC due direct link with the bank CC and the ability to be faster on the trade. This will all benefit the whole WBB / 1Ex business in time.

Thanks
WBB Dev

thanks Peter for the update.
As always, we are very timely updated on the progress - well done!
As for the response to my concerns, I am still not fully satisfied with your response. As far as I understand the update of the code for stability (diff variable) had nothing to do with block time length and could have been done independently (points 1 and 2) - please correct me if I am wrong here. I also don't see the BTC price rise as the only thing to blame for WBB price devaluation (point 11), especially that the price of WBB is in a stable decreasing trend since the changes were introduced, i.e., almost two months now (Sept. 14th, was the date when changes were made, if I remember correctly). recent surge in BTC only added fuel to that.
As for chance to getting more cheaper coins (points 7 and 8 ), well yes, but only under assumption that people do not have full bags already (still have spare BTC to buy, and as I said we need roughly 20BTC a month to keep the 10k price) and will buy instantly instead of waiting for cheaper prices (pretty sure that is what may happen). And here we come to the clue of the story for now, marketing of the product that you have delivered. Can you comment a little bit on the marketing plans for the nearest time, say, before halving?