BitShares Forum
Other => Graveyard => MemoryCoin => Topic started by: isaacgoldbourne on January 04, 2014, 04:14:06 pm
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The price has just slumped to 0.00057BTC/MMC, this seems to be because of miners selling straight after mining, as opposed to holding.
We need to stop this, if you are a miner, please hold. It will work out well for you long term, if you are anyone else fire up any machines you have and get mining, hold the coins. If we mine the coins they can't sell them.
We all expected the price to dip as miners tried to recoup costs, but if it goes too far south it may just fail altogether.
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Good propose, but I doubt all miners would obey the the rules...market will regulate everything
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prisoners dillemma at work.
What reason would Miners want to hold something that has a very large supply mined over a long period of time that is losing value as the supply expands because there is no reason to hold it?
Altcoins need a reason or they're not interesting. Advertising that mining is profitable means that people who want to profit have to sell their coins.
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Been holding since i started and will continue to hold.
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The price has just slumped to 0.00057BTC/MMC, this seems to be because of miners selling straight after mining, as opposed to holding.
We need to stop this, if you are a miner, please hold. It will work out well for you long term, if you are anyone else fire up any machines you have and get mining, hold the coins. If we mine the coins they can't sell them.
We all expected the price to dip as miners tried to recoup costs, but if it goes too far south it may just fail altogether.
GPU miners crashing MEM market (fast money) and back to mine LTC(or script forks).
CPU mine not profitable today.
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The best would be to get coin on more exchanges. Will all these C*O folks do something about it or just talk on this forum?
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Selling this coin for a quick profit is very short sighted.
MMC has good features unlike many other $hitcoins, if the C*O guys do half decent job, this coin should get to the top and easily reach 10-100$ this year.
I'm mining full bore on all my CPU/GPUs and buying as much as I can.
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Bot miners don't have any skin in the game- although it does seem to have let up. My guess that is what is depressing prices.
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i didn't sell anything at all
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The entire alts market is depressed lately, it is not smart to sell anything until new money come in on the next hype.
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MMC has good features unlike many other $hitcoins, if the C*O guys do half decent job, this coin should get to the top and easily reach 10-100$ this year.
Agree on MMC comment. In my opinion MMC has more innovations then both PPC and XPM have combined. I will try to do a better job explaining MMC features and promoting MMC innovations.
Also agree on your constructive criticism. Right now I'm trying to get some news media exposure for the coin also I'd like to have presence in social media, but so far I can't show any great results yet.
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I said this before, very extreme supply and little demand.
You'll need to wait a few months for the price to start to go up. Blocks will be less rewarding. This is like an IPO flash, you need to wait for the market to come through.
Hang in there guys, MMC is still in the process of gaining traction on the coin market. There is more incentive for this coin to do well because of the positions available for election.
We may need people to accept it over bitcoin or litecoin for the payment of goods and services. Overall, we also need our officials to do a better job in Public Relations.
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MMC has good features unlike many other $hitcoins, if the C*O guys do half decent job, this coin should get to the top and easily reach 10-100$ this year.
Agree on MMC comment. In my opinion MMC has more innovations then both PPC and XPM have combined. I will try to do a better job explaining MMC features and promoting MMC innovations.
Also agree on your constructive criticism. Right now I'm trying to get some news media exposure for the coin also I'd like to have presence in social media, but so far I can't show any great results yet.
Precisely about the innovations which the coin brings.
I wasn't really criticising anyone though - apologies if it sounded that way.
I meant that even a bit of work would propel the coin, and I'm sure all elected C*O are going to do all they can/need to do to promote, market and further innovate it.
It's definitely Bitcoin/Litecoin calibre, we just need to support it...
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We may need people to accept it over bitcoin or litecoin for the payment of goods and services. Overall, we also need our officials to do a better job in Public Relations.
Okay, but there should a payment gateway script or plugin for that. For example, I'm building a website specialised for MemoryCoin. It will serve both as a marketplace and a blog.
Meanwhile, there are couple of payment gateways for Bitcoin but few of them works efficiently. Even litecoin has 1 payment gateway plugin in Wordpress.
Let's talk this in a different topic.
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What would also be a good short term help would be a app or a plugin to make Bitcoin payment using MemoryCoin.
The way that would work -
1. You're presented with a Bitcoin payment address
2. App sends the address + MemoryCoin payment to exchange/provider
3. exchange makes the Bitcoin payment.
If it was some kind of decentralized p2p service - that would be all the better.
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Sufficient should be to promote MMC in China.
MMC is atm the best GPU coin around (*grin*) stable and profitable, people just don't know it. With "hosts file trick"it can be mined on any of the MMC pools. The price is very low atm so it can be used as a cheap way to get BTCs. All it needs is attention.
Once China is interested, everybody is.
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where r they traded
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What would also be a good short term help would be a app or a plugin to make Bitcoin payment using MemoryCoin.
The way that would work -
1. You're presented with a Bitcoin payment address
2. App sends the address + MemoryCoin payment to exchange/provider
3. exchange makes the Bitcoin payment.
If it was some kind of decentralized p2p service - that would be all the better.
Such an application would have to sell MMC for BTC instantly at market price, pushing it down. Until there is a p2p exchange (BitShares?), I would argue that in the short term it would only harm.
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Yes, we'd want to see a bit of market depth there first. It would create demand becuase of the extra utility as well as downward price pressure so difficult to tell what effect it would have overall.
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I think MMC has an intrinsic market value of 0.0003 with a difficulty of 0.00007 because that is similar to litecoin's profitability rate for investors.
However the price should be at or above 0.0005 because:
-MMC has an extreme block reward decrease vs. time
-MMC is more unique vs. Litecoin and Bitcoin
-MMC has an original system to promote usage
-MMC is much harder to build an ASIC for based on time limitations (block reward decrease + real miners remaining online)
-MMC is more appealing and usable by the general public
-Investors see REAL profitability buying miner's dumps. That's why their buy orders will always be there.
My tip:
Keep 250MMC away in a wallet and wait a 1 year before that makes you a fortune! [But sell in increments please!]
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Although I have stopped mining MMC, I will keep all what I have mined. Miner from Litecoin are shoot sighted to dump.