Thank you for the answer

oh, OK... It will be hard to keep the community coin under control then. How many coins are set to be made in total now?

Have the community considered making restricted mining for community members only (threw fork)?

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.

Hi!

I'm currently mining in http://gld.vircurpool.com. Do you use one that is better?

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

I will be buying gold tomorrow that is for sure, it's cheap and a great buyat the moment.

ipaint IFC has huge trade volume due tithe sheer amount of coins in circulation.

Very encouraging to here that you are stepping up your action I'm going to buy some LTC threw localbitcoins.com as soon as I get my paycheck.

I am trying constantly to buy GLD but it seems as some have mentioned some miners are dumping GLD on large scale. Seen today some selling 42000, 48000, 50000, 70000 GLD. That means some big miners are getting out of GLD.

I think from now on we can work on getting GLD up. Lets work on getting it back to 0.0002-0.0003 range.

I know you are one of the most active on the buying side of GLD in Cryptsy, you have done a great service to GLD Thank you, AZIZ1977!

How many coins are mined a day? Is the bloc reward 100 GLD? How often is a block solved? When we know this we can take this into account But the miners that auto mine/sell the highest for the highest profit on coinchoose will not do much damage when we got the community here interested in putting their money where their mouth is. Don't get me wrong, it is brilliant for everyone to have a loud month when we back it with buys in GLD! This will make us all rich

It is also a good thing to have a fluctuation of ~25% during 24h, this makes it attractive to the gambling traders at Cryptsy. We should aim for a steady weekly climb towards 0.40000000 LTC pr. BTC. This equals to 1 USD pr. GLD.

I do what I can to help keep the price stable and keep GLD active on Cryptsy. Right now I am buying and selling other coins for BTC and when I build up my BTC I buy LTC and then invest it in GLD. I've found you can bring the price up, but then it will fall right back. You can keep it up to say the 0.00018 range for a few hours, then leave and go back in a couple of hours and the price will be 0.00016 or 0.00015 range, sometimes less. All I can think of is some miners are just selling GLD at almost any price to get LTC. I understand why, LTC will be on Gox and the value will go up. But if they can get 0.00018+- range you'd think they'd try and keep it there.

But then again we don't have any services that people can use GLD for at this time. That is what we need, Stores, Auction site etc. give people a place they can spend it. Cryptsy said they are going to have a Merchant API, I might be able to use that at some point.

I do the same as you do, and try to hold the price up like have done to day. It has only costed me 10 LTC. Imagine what we can do if everyone in this community chips in!

The reason for the past reduction in the value of GLD has been some angry past contributors to the GLD community (Not interested in the reason for it). They have purposefully driven the price down and made other people in Cryptsy to dump their coins.
I think a lot of this is absorbed now, but they still have more. We as a community need to absorb ALL their coins. After this it will be easy to get the price to go threw the roof!

When it comes to the Cryptsy market it really does not matter much to have Stores, Auction site etc. It is only helpful to get people to have faith in the coin. We as a community already have faith in this coin, but need to combine our faith with works; namely buy GLD and buy a lot because it will make us rich if we do this!
When traders see a coin that is climbing steady they do not care about the haters or the application of the coin, only profit.
In other words, when we combine our faith with buying a lot of GLD other traders will get faith in our coin and they will work for us.

There where actually a guy who bought a lot of ALF today, because it was on top of the list. It is really not important for a trader what the coin can be used for as long as he thinks he can get a profit. We just don't care, we only trade to earn a living.

The reason to have uses and good wallets etc. Is to make a sustainable market for the long run. It is very important, don't get me wrong. But we will have a kickoff with a low valued coin instead of a high valued coin. We need to take control of our coin in the trading market and investing our money to buy GLD in a manner that shows we believe the price of 1 GLD will be worth 4 USD and that we can buy cars and houses with it in the future.

So please don't be discouraged by wallets, lack of uses etc. It really does not matter at this point. We can have a high value coin right now, when we buy into it as a team!

For those of you that have mining rigs, don't be tempted by CoinChoose etc, because the last thing we need is a 51% attack on GLD. Keep on mining for your future wealth

PS! The reason for the current drop was the introduction of a new coin called InfiniteCoin that plummeted to 1 Satoshi and everyone started selling everything to get that. I expect the Cryptsy market to stabilize in a weeks time. You can really get GLD dirt cheap now if you are fast!