TLDR: I’m making a copy of some early investigations into digital currency from 2016 and 2017 to help me recall some of that early work.
Why am I doing this?
I’m starting to pay another visit to the digital currency world in response to some potential opportunities that I’m pursuing – Associate Product Manager with Axiom Zen (https://www.linkedin.com/jobs/view/1740122133/).
I’m really excited about the possibilities of blockchain and it’s various derivatives. In my last role at Kater as Technical Product Manager, I recognized some “blockchain-like” tech that was part of our tech stack – CQRS and Event modeling. We had plans internally to pursue cryptos in the future, but those ideas never went beyond a few lunchroom conversations with a few of the Devs.
Over the past 5 or so years, I haven’t really paid much attention to the digital currency world much. Once in a while, I open Coinomi in the VM on my home PC. Mostly it’s to see if my 100k Reddcoins have popped to $5 a coin 🙂 and also to see the value of my 0.2BTC. That will probably never happen, but you never know 🙂
Anyway, enough about the story.. here are some of those early posts I made
See the comments and discussion at https://www.reddit.com/r/CryptoCurrency/comments/1ywmd2/theoretical_discussion_stability_of_a_digital/
Theoretical Discussion: Stability of a digital coin with multiple fiat and ALT coin dependencies?
I have been involved with cryptos for the past month or so learning about mining, alts, whales, shibes and more, so I speak from a newbie’s perspective.
From what I can see, it seems to me that all digital coins are inherently unstable (except maybe for bitcoin prior to this month) because only two things determine their worth: supply and demand, and mining difficulty.
Those two price movers aren’t enough to provide the stability a digital coin needs to serve as a replacement to fiat currency. Bitcoin made it pretty far because it was the first one, and the network effect took over. This has given bitcoin it’s place in history. Most ALT coins, however, are subject to pricing that can be easily gamed; whales dumping and pumping, fake press releases, community misdirection and lies, and the like.
I can understand that a lot of us in the crypto community tend to have a love/hate relationship with fiat currencies but they DO have inherent stability (even if it is faked) that is tied to an entire nation. It’s the capital, GDP, workforce, presidential decisions, wars, international monetary cooperation, etc.
My question to you: Can a digital currency be created that has all the benefits we all know and love (double-spend resistant, cryptographic, public blockchain, etc), but yet be resistant and stable in its price and value? Can a digital currency be created that produces artificial stability by including multiple indexes, and numbers into its creation? Can these be encoded and programmed directly INTO mining software? Does that even make sense as a way to artificially “game” stability into a digital coin (that is otherwise inherently unstable in its nature)?
Thanks for sharing your constructive criticism and feedback
See the original post at bitcointalk here: https://bitcointalk.org/index.php?topic=413452
One of my early ideas, coinmakerbot.com (flamevic, if you are reading this, I don’t recall the 0.003 BTC transaction you mention in that thread, but if you want it back, I will happily do so). I started this idea because I wanted to build my own ALT coin (and rule the world lol) but found the process quite difficult. I borrowed my idea from Consulting and thought that others might want help to create coins of their own. I never launched the idea beyond much more than a web page and logo.
CoinMakerBot.com – a new ALT currency generator
I have started www.coinmakerbot.com in response to some of the issues surrounding coins these days. Too many coins are failing these days due to poor execution and DEV training and post-launch support.
As a Release Engineer in the Software Industry with more than 20 years of experience in IT, I have a knack for creating quality instruction manuals and managing servers and code bases. I also know how to work with developers and I’m not so bad as a developer myself.
www.coinmakerbot.com is where I will be providing a coin creation service for anyone interested in creating ALT currency coins. I have a few ideas in mind myself as well. It will be similar to coingen.io where you pay a single fee and fill out your coin information to create your coins, but I will be offering a lot more of the ancillary services like GitHub setup, domain registration, web site setup, twitter setup, mailing list setup, countdown timers, client downloads, email setup, IRC setup, and much much more.
I will make it easier for coin creators to focus on their marketing, support, PR and post-launch issues instead of worrying about all the myriad details relating to coin creation and support. Pools going down is still a nagging issue, and down the road, I also intend to provide pool hosting as part of the coin creation service (although that’s not top priority right now).
Hopefully, in providing this service, there will be more successful coin launches which just adds to the overall crypto currency industry and to Bitcoins stability and acceptance in the marketplace.
See the original post here: https://www.reddit.com/r/reddCoin/comments/216p3e/i_dont_get_it/
TLDR: Someone on the interwebs wondering why Reddcoin (one of the many ALTs) hasn’t gone up and here is my response:
You need buy pressure. Apart from what the reddcoin team has done so far, there is no inherent reason to hold/buy this coin. A coin needs to have more than good PR and Marketing. It needs a reason to exist and a reason to grow and be adopted. It’s a hard puzzle to figure out and most coins fail in attempting to create this magic. At the moment, exchanges are the best source of buyers because thats the only place that coins are purchased. Someone just needs to figure out a way for buyers to join for more than it’s current low sat price. Miners and devs are currently scrambling on all coins in trying to create buy pressure. So far, only BC has managed to figure out a strategy.
But, reddki is right.. it will go up when you aren’t looking.
See the original post at https://www.reddit.com/r/reddCoin/comments/1xbd50/reddcoin_dice_game_ipo_in_reddcoins/ and https://www.reddit.com/r/CryptoCurrency/comments/1xbe2y/1_million_rdd_coins_for_dice_developer/
My early attempt at building a DICE game for the ALT that I was involved with at some point. Looking back now, it was a silly and pointless exercise and I suppose I got caught in the pump/dump mania at the time.
The original post:
I want to build a Reddcoin DICE game. Is anyone interested in building with me? If so, please add to the reddcoin IPO which I will gather here.
All deposits should be made to Rpb7a8odSzTKV4rwsiNREn2wmbhpPMP9JS
Use this link to confirm that the IPO funds are never spent: http://cryptexplorer.com/address/Rpb7a8odSzTKV4rwsiNREn2wmbhpPMP9JS
I’m looking for 1,000,000 RDD investment in order to fund and build the DICE game. I’m also posting a request for developers at r/cryptocurrency (http://www.reddit.com/r/CryptoCurrency/comments/1xbe2y/1_million_rdd_coins_for_dice_developer/)
As an investor in this IPO, you will be given a share of earnings from the DICE game when it is completed as a percentage of your investment.
See the original post at https://bitcointalk.org/index.php?topic=426427.msg4773353#msg4773353
TLDR: Someone asking what to do with 41k USD and my reply cautioning him against diving in too quickly (made sense at the time but looking back he should have gone all in!)
Don’t listen to the sheep (no offense baaaahhhh) about putting all your money into Doge or Litecoin or spread your risk by buying 1 GPU coin, 1 CPU coin and 1 ASIC coin. There is no logical basis for any of that advice and comes from people that don’t understand Bitcoin well enough except to provide heresay/rumour/snake oil advice on Bitcoin competitors (all the ALTs).
Also don’t listen to the hype about moving your entire life into crypto currencies either as that would not be wise considering that the vast majority of the planet deals with fiat currencies (as imperfect as they are). There are definitely SOME people that are living entirely in this alternative universe of crypto currencies (like Bitcoin Jesus), but also understand that they probably watch Bitcoin value on a daily basis and have cold sweats when a major exchange is ready to implode (like MtGox for example). BTC value is inherently volatile, both in it’s design and because it can’t be regulated.
If you are prepared to spend 40k in this new frontier, then ask yourself if you are also prepared to spend the equivalent amount in gold or silver, or rubles, or yen, or any other globally accepted trading medium. Why not buy Coca cola stocks or Walmart or maybe buy a few shares of Warren Buffet’s stocks? Or how about buy a piece of land in your city and speculate? Or buy a pre-sale apartment and sell for profit? Or how about invest in a startup? Or invest in your own education and earn more money? Or .. well the list goes on and on.
Bitcoin is still valued AGAINST fiats, and NOT the other way around (ie: USD are not valued in Bitcoins YET) so that should tell you that a tectonic global shift hasn’t yet occurred in global Bitcoin awareness.
BUUUUTTT.. and it’s a big one, even though it’s VERY early days for Bitcoin, it’s already at around 900 USD now.. and that’s with the early adopters, geeks, crypto enthusiasts, and miners. Has that price been artificially inflated? Is the whole Bitcoin movement run by hackers and coders and greasy haired bankers?
Many people don’t know what to do. Part of the reason for this hesitance is that Bitcoin is technically more complex then say USD. The basis for the currency (if we can call it that) is fundamentally different from everything else we have ever used before. It can’t be centrally controlled, it can’t be faked, it can’t be double spent, and the entire spending ledger itself is public domain. It’s almost as if someone took the central bank of an entire nation and posted every transaction for public scrutiny (a wet dream some still think will happen)
If all you want to do is grow your wealth, then it’s probably worth listening to the 2nd richest man in the world who grew his own fortunes from scratch (so MAAAYYBEE he has something good to say? duh). On Warren Buffet’s Investment checklist: Don’t invest in something you don’t understand.
If you are here asking for what to do with your 41k and if you should invest your money in Bitcoins (or whatever), then it’s obvious you don’t understand the implications of buying Bitcoins yet, so buy only as much as you would be willing to purchase in USD and freely give away to anyone on this forum (as a gift for example) and then keep researching.
Oh, also don’t take my advice cause I’m a sheep too
TLDR: Early attempt at finding a Technical co-founder
See the original post here: https://www.reddit.com/r/CryptoCurrency/comments/1uy0zf/exchange_system_for_crypto_coins_seeking/
Exchange System for Crypto COINS – Seeking investment/partners
The primary issue with any new coin is that coin holders and early miners own large stakes but have very few useful ways to trade them out into their currency of choice like LTC, BTC, DOGE, etc. Miners are fragmented amongst IRC and Forums. Mining any coin early is generally a gamble. You have to estimate what its worth might be based on the dev team’s professionalism and skill, the coin’s name and design, and whether the coins catches attention from the investing/mining/coin-trader community at large.
Often, however, coins fail. Either they are poorly named, run into legal troubles (like COYE), lose value quickly, are badly designed, and more. Sadly, coins are all too often launched by DEV’s that heavily pre-mine the coin before launching (which makes a lot of early miners upset) so that they can dump it on the market days after launch for a profit (just look at the numerous buy/sell threads on the various forums).
There is no easy answer to fixing these issues of new coins. It’s understandable that coin creators need to hold an early stake in the coin to ensure success through giveaways and lotteries. All too often, however, it’s an ongoing balance between coin creators and early miners and often it’s hit and miss. Why some coins “catch” and others fail isn’t straightforward.
New coins are now being seen and traded like penny stocks and junk bonds on forums and IRC channels. There is no specific starting value for most new coins.
This is bad for the community and bad for Bitcoin (bad media, coin instability, server hacking, snake oil salesmen, etc) as a whole if media and general public learn more about how poorly run other coins are.
That’s why I have posted this message. This project would enable individuals to:
trade with each other (1:1) via an online chat and tracking system (login/registration/reputation/chat logs)
2. trade with others through an online escrow (verified and voted into existence by the community itself or working as individuals) for a small commission (1-2% with a minimum BTC fee amount).
3. trade their coins through the exchange (at a higher commission than escrow).
4. View various stats about new coins like coin stability, latest prices, pricing charts, trade values, trade frequency, coin reputation, coin surveys, overall popularity, coin profitability, etc.
As a co-investor, you would become a part owner in this project with me and any others that choose to invest time and resources.
Nice to have, additional skills that are being looked for include:
Front-end developer, Designer
Someone with Kickstarter or Indiegogo experience
If you want to be part of this project, please get in touch with me via PM. I will expect you to share personal details with me so that I may begin to form a pseudo-team of partners/investors. I already have a few good domains registered that would be good candidates for this initiative but naming and such is still open to debate. Depending on how much interest comes in through this post, I may end up going via Kickstarter or Indiegogo or seeking VC funding.
Please leave a comment if you think this project would help you sell/buy early launch coins or wish to see it created.
TLDR: Getting sucked into the pump/dump bug
See the original post here: https://www.reddit.com/r/reddCoin/comments/1xwwvv/what_1000_increase_looks_like/
What 1000% increase looks like
Right now, the RDD price on coinmarket is 0.00000005 BTC. If RDD increases by 1000% in the next 12 months as a lot of people are suggesting, that means a 10x return (because 1000 per cent, means 1000 per 100) which brings it’s price to 0.00000050 BTC.
$1 USD x 1000% = $10
1 BTC x 1000% = 10 BTC
10 BTC x 1000% = 100 BTC
You get the point.
But the question is.. WILL it actually go 1000% in 12 months? WELL, that’s to be decided. One thing is for sure, if we have patience and keep plugging this coin away for the next 3-4 months it will start to have a life of its own and increase in value.
Points worth noting:
We are one of the few currencies with more than 100 BTC invested
We have already reached this far in less than 2 weeks
The coin has a large total coin amount which makes it easy to tip 100 or 1000 coins and thus have a perceived high value as a result
A major investor is considering buying (or maybe already is) this coin. See http://jdbif7.blogspot.com.br/2014/02/good-news-to-shareholders-dividends.html
Personally, I think it’s going to take a while to get up 1000%. It will depend on DEV dedication, and overcoming some of the challenges around tipping outside of reddit – will be harder to implement tipping on Facebook, Youtube, etc. If some of the major roadblocks can be overcome, then this coin has a lot of potential.
See the original post here: https://www.reddit.com/r/reddCoin/comments/1xy7zt/marketing_coop_fund_drive_to_raise_awareness/
Crazy idea to build hype into the ALT I was paying attention to at the time (reddcoin) with some PR and social good
Marketing Co-Op Fund Drive to raise awareness
Hi Everyone. Just had an idea: we all pool our reddCoins donations together, and then donate/award to one or more of the following. Preferably, one that will help raise awareness of our coin. Even if it’s bad press, the saying goes that “all press is good press”. If we all collectively put together something like 20 million coins, and then deliver by hand to one or more of these to get the PR.
a fund, society, non-profit of our choosing (Doge got brand appeal with Olympics)?
Reuters news anchor?
The stipulation on delivery should be that somebody from the community delivers the coins either in hand or on-air. Has this ever been done? Are there enough community members now to donate that amount? How about everyone donate 1% of their equity? Donate 1% to make a profit gain of 1000%?
Thoughts/Suggestions? Leave below
My crazy idea to create a Youtube killer
Hello everyone. I wanted to make the official announcement here on your subreddit that I’m working on a project called tipsong.com. At tipsong.com, indie artists, bands, and the like will have the ability to be tipped in multiple fiat (sigh, yes, but that’s reality), and digital currencies. I, of course, will support bitcoin, but will also be looking at various other ALT currencies that have a strong social element. Reddcoin, Dogecoin and other ALTs fit that bill perfectly. Disclosure: I’m a reddcoin enthusiast, supporter, and minor reddcoin and dogecoin holder (<100 usd).
What I need from you:
Ideas. Ideas. Ideas. I have a good idea of how I want the website to function. As a Freelance Web designer and programmer for the past 15 years, I know a lot about UX/UI but I’m not so egomanical that I believe I know it all.
YOU are the ones that will be helping me build an audience, share and get noticed. Are you an artist? A band member? A digital currency enthusiast? A miner? Great! I REALLY NEED your feedback!
Core functionality I am aiming for on launch:
Ability to create accounts, upload songs, bio, contact details, etc
Create mini landing pages for your band/group/voice
Instant creation of all wallet addresses upon signup
Lower commission fees for registered artists (anyone that voluntarily provides contact details, identity)
Social media links/buttons
Auto-cold storage triggered by balance (don’t know the best way for that.. custom wallet daemon without a withdrawal?)
Various landing and reports pages showing tip growth, top tippers, top this week etc
Anon tipping accounts (so you can tip anonymously)
Registered tipping accounts so you can tip with a partial/full identity. And also get tax deduction receipts (maybe)?
Stuff I don’t know yet:
Commissions, if any. Although highly unlikely to pay for hosting, monthly running costs without some commission driven system.
My own currency or investment options
Angels or VC’s. If you have the industry contacts or ARE one, get in touch. Serious investment makes this project much more likely to succeed.
Stuff I DO need:
Investment. I am aiming to launch on my own, but it’s almost certain that I need investment to get this project fully launched. Development costs time and money and I can only get so far on my own. Partners make the project more successful as well. If you are seriously interested in being part of this project, please do get in touch with me via PM. I have no problem sharing my personal information as long as you do the same. If you want to remain anonymous, that could get tricky. Being Canadian, and a loyal tax paying citizen, I’m not too eager to have anon investors. How much do I need? Well I have enough skill to launch the project completely myself. I know the tech well enough and consider myself a pretty decent designer, but I have to say no to new projects if I’m going to be fully committed to this one.
Share anything you like below. Ideas, Support, Suggestions. If you want to share this idea on other forums, just let me know.