Help me keep the GLD high in Cryptsy!

[AZIZ1977]

We need to build some support walls around 0.0002 and than we can go higher.

[knord]

We need to build some support walls around 0.0002 and than we can go higher.

We are lacking our usual buy walls right now. We need someone that has 30-60 LTC and place a high buy order to stop the price from falling. Who can help us out?

[AZIZ1977]

We need to build some support walls around 0.0002 and than we can go higher.

We are lacking our usual buy walls right now. We need someone that has 30-60 LTC and place a high buy order to stop the price from falling. Who can help us out?

Even a 30-60 LTC buy wall wont help at this stage. Their are still some sellers with a huge stock of Goldcoins.

We need slowly to build confidence around GLD and the buyers will slowly jump into GLD.

Have some patience and you will be rewarded.

[knord]

There is now currently a 39 LTC buy wall @ 0.00021113. This buy wall is for 185,420 GLD which is almost 1% of all GLD produced so far (~19M produced). I already have a lot of GLD and I believe AZIZ1977 to have even more. There is likely a few people in this community that already have 10% as well.

Imagine if we could get 5-10 community members to commit to obtaining 190,000 GLD each. We would have full control over the pricing

At the cheap price of 0.00021113 we would only need 390 LTC ($975) to buy up 10% of all the gold ever created and only $10,000 to buy up everything. Come on guys and girls, think in the lines of "yes we can"

I am convinced that we as a community can absorb at least 70-80% of all GLD and set the price of GLD for the future (it is easy). Commit your self to owning 1,9M GLD as soon as possible. The first one to do so will reap the highest reward.


knord

[AZIZ1977]

There is now currently a 39 LTC buy wall @ 0.00021113. This buy wall is for 185,420 GLD which is almost 1% of all GLD produced so far (~19M produced). I already have a lot of GLD and I believe AZIZ1977 to have even more. There is likely a few people in this community that already have 10% as well.

Imagine if we could get 5-10 community members to commit to obtaining 190,000 GLD each. We would have full control over the pricing

At the cheap price of 0.00021113 we would only need 390 LTC ($975) to buy up 10% of all the gold ever created and only $10,000 to buy up everything. Come on guys and girls, think in the lines of "yes we can"

I am convinced that we as a community can absorb at least 70-80% of all GLD and set the price of GLD for the future (it is easy). Commit your self to owning 1,9M GLD as soon as possible. The first one to do so will reap the highest reward.


knord

it isnt that easy the higher the price goes the expensiver it gets. We had buy walls of 100s of ltc and were taken out by sellers. Their are miners with huge rigs that at one point were mining over 100.000 GLD a day. We need to convince more buyers outside GLD community to buy Goldcoins. This is the only way to go forward.

[knord]

How often is a block solved and what is the reward? How much does that equal to in 24 hours?

If a lot of powerful mining rigs where to start mining GLD it would only make it more resistant for 51% attacks and there would not be any more coins mined, only the diff would go up.

[AZIZ1977]

Block reward is 500 it will go down to 400 soon.

[ipaint]

okay who put the 28 LTC buy wall up? lol killed my order just below it  

[MicroGuy]

We need to convince more buyers outside GLD community to buy Goldcoins. This is the only way to go forward.

This is my viewpoint as well. Get outsiders to buy and use the coin as money in their day-to-day lives. We need a fixed client (July) and then an android app for transaction practicality.

[knord]

How is it possible to mine a 100k of GLD a day? Is not the reward of 500 set to every 10 minutes? If it is that amounts to 72K pr. 24 hours. How much hashing power is within the community (I have 1Mhps mining GLD)?

When everyone starts mining GLD, am I right to assume that we could expect 30% still going to the community? If yes, that means 50k hitting the market every day (Not taking into account people saving and forgotten pool accounts and wallets). There would also be traders that have buy orders and absorbing the miners. They are reluctant to sell with a loss. But I see the reason for being reluctant if a 100 LTC buy wall is shewed threw everyday.

What value can we afford to hold for our Gold Coin then? I don't know how many active members we have in our community and how our buying power is. Can we at least set a price we know we can handle? This way we can absorb a lot of the Gold that already are in circulation at a cheap price over time. That way everyone that has stretched to hold 10% of the GLD will be rich when we can afford to pump the value of GLD. Another benefit would be that the market (traders) would be positive if we where able to hold a high price as a community.

[tadspoles]

If the schedule had to be pushed back a month or two to ensure quality, I don't think anyone would mind.

[AZIZ1977]

How is it possible to mine a 100k of GLD a day? Is not the reward of 500 set to every 10 minutes? If it is that amounts to 72K pr. 24 hours. How much hashing power is within the community (I have 1Mhps mining GLD)?

When everyone starts mining GLD, am I right to assume that we could expect 30% still going to the community? If yes, that means 50k hitting the market every day (Not taking into account people saving and forgotten pool accounts and wallets). There would also be traders that have buy orders and absorbing the miners. They are reluctant to sell with a loss. But I see the reason for being reluctant if a 100 LTC buy wall is shewed threw everyday.

What value can we afford to hold for our Gold Coin then? I don't know how many active members we have in our community and how our buying power is. Can we at least set a price we know we can handle? This way we can absorb a lot of the Gold that already are in circulation at a cheap price over time. That way everyone that has stretched to hold 10% of the GLD will be rich when we can afford to pump the value of GLD. Another benefit would be that the market (traders) would be positive if we where able to hold a high price as a community.

The person who was mining over 100k of GLD a day was using a rig of ~86000 kh/s if i remember. 86 times bigger than your rig

We have slowly absorbed lot of the Goldcoins and i think we are close at a stage that we can go higher step by step. We should not rush things.

[MicroGuy]

How is it possible to mine a 100k of GLD a day? Is not the reward of 500 set to every 10 minutes?

The block reward target is currently 500 every 2.5 minutes. After the fork it will be 400 every 2.0 minutes.

What value can we afford to hold for our Gold Coin then? I don't know how many active members we have in our community and how our buying power is. Can we at least set a price we know we can handle?

I think we should let the market find its own natural price.

[knord]

400 every 2 minutes, wow. I did not know it was that much... That is 375,000 coins each day...

How come there is only 19M in existence?

[AZIZ1977]

400 every 2 minutes, wow. I did not know it was that much... That is 375,000 coins each day...

How come there is only 19M in existence?

Because we had a period when diff went up to 7.3 and mining Goldcoins was very hard. And it took us ages before difficulty was adjusted back.