GoldCoin Talk
Economy => Marketplace => Topic started by: knord on July 08, 2013, 06:15:02 PM
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Hi!
I'm new here to the community. I'm a trader over at Cryptsy and I love GLD and have a lot of it now. I would like to see the GLD haters put to shame and I have done my best with buying and buy blocks to keep the price from falling and rather get it to raise in value.
Today I have kept the price from falling below 0.00017500 LTC by putting up a 13 LTC buy block, other traders and people in your community have done the same in the past with great success raising the price with buy blocks from 0.00014000 at a time it was falling every day. This also stopped a lot of the arguments of the GLD haters. Please buy some Litecoins and help me and the rest of the community out.
This is simple once you have Litecoins (Please buy a lot, we will all benefit from this!), simply but a buy order 0.00001000 over 0.00017500 LTC (Or a 1000 over the current buy block). The more LTC you can spend on the buy block the better :)
I would also like to address the issue of people who say that you can buy houses or that GLD will be worth 1-4 USD in the future. It is OK, but only if the community has been putting a lot of money in GLD (Using a method similar to the one above) to pump the price high and are able to keep it there.
If we skip doing this people will only laugh at us. Guess what... We can buy houses with it and it will be worth 1-4 USD if we put all the money we can into buying it cheap over at Cryptsy! If you really believe that GLD is this valuable, sell your car and buy a cheaper one, use the rest to buy GLD. Do you have a spare computer sell it. Do what ever, but be sure you do something.
When we do this as a comunity, the price of GLD will skyrocket and you will multiply your spending's and be rich.
So I want to congratulate you as a community in reaching a very high level of faith in this Crypto Currency called GLD :) I don't think there is as much faith around any other coin out there and when it comes to the value of a coin this is the absolutely most important thing!
So come on community lets pump this coin up towards GLD's real value (Wallet issue does not matter to the market price in Cryptsy).
Finally please remember not to use big words before the community is doing a joint effort in escalating the price, this way we can stop the mouth of the haters also remember the person who buys the most GLD and holds on to it will be the riches among us :)
Link to Cryptsy:
www.cryptsy.com (http://www.cryptsy.com)
knord
Edit: Can admin please but this in the right section?
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Please also remember that you should cancel every low buy block, but keep at least 3 strong ones at any given time. Example:
50 LTC buy order at 0.00018500
35 LTC buy order at 0.00016500
15 LTC buy order at 0.00015500
Look for community buy orders and work with them to stop the price from getting low (Meaning other people buy straight threw them). Hopefully our communities buy orders will be the biggest ones in there :)
knord
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Fun facts:
When GLD rises to 1$ the price pr. GLD will be 0.40000000. That would mean that if you spent $10,000 (4000 LTC) to buy GLD cheap now for 0.00017500 (22.857.142,86 GLD) you would have a portfolio worth $22.857.142,86. Yes that is right, almost 23 million dollars. You would of coarse not be able to get 23mil GLD and not at that price. But it shows how cheap GLD is right now and it also shows that the people who get in early with some serious money will get a chance at some serious profit :)
So if you believe in GLD; that it is a valuable commodity now is your chance to get rich...
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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.
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This is going to sound nuts but I think we need some sponsors. Right now is THE time to get into this coin. Perhaps the community can come up with a letter to send places like gold merchants etc. explaining how bitcoin came about, then litecoin and goldcoin has an even better and understandable name.
If we had just a few gold merchants that saw the value of this willing to spend 1k a piece and possibly give away goldcoins as incentive for buying actual gold then they could get a lead and help the cause.
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Given the option of buying 1ounce of gold vs 1 ounce of gold and 10k goldcoins for the same price, I'd take the second option. It may work out to be good marketing for goldcoin and the gold merchants.
Just a thought.
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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!
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That's crazy IFC Sell at 0.00000002 lol and the only Buy Order is at 0.00000001
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That's crazy IFC Sell at 0.00000002 lol and the only Buy Order is at 0.00000001
I know lol, it is now up to 0.00000004 in value. Luckily I sold everything except my Gold :)
Good news:
Acording to http://coinmarketcap.com/ (http://coinmarketcap.com/) There is currently only 18,7M Gold available. That means we only need 10 of us to try to get 187K each. If we can do this as a community we would have a very valuable coin and we would be in charge of the price. Lets make it happen guys and girls.
Don't forget to get the people you care about to stack up on some digital gold :) My parents have already invested in a mining rig ;)
knord
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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.
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I should have bought more IFC last night :) I bought some for the fun of it, I didn't think the price would go up with the amount of Sell orders at 0.00000002. The volume is crazy there's been 6499544302.08233000 traded.
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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.
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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.
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This is going to sound nuts but I think we need some sponsors. Right now is THE time to get into this coin. Perhaps the community can come up with a letter to send places like gold merchants etc. explaining how bitcoin came about, then litecoin and goldcoin has an even better and understandable name.
If we had just a few gold merchants that saw the value of this willing to spend 1k a piece and possibly give away goldcoins as incentive for buying actual gold then they could get a lead and help the cause.
That is a good idea. To build on your idea, lets get the people close to us get a piece of the cake (Friends, Family, colleagues etc.)
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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 (http://localbitcoins.com) as soon as I get my paycheck.
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We need to build some support walls around 0.0002 and than we can go higher.
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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?
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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. ;)
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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
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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.
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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.
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Block reward is 500 it will go down to 400 soon.
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okay who put the 28 LTC buy wall up? lol killed my order just below it :( ;) ;)
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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.
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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.
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If the schedule had to be pushed back a month or two to ensure quality, I don't think anyone would mind.
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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.
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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.
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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?
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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.
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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)?
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How come there is only 19M in existence?
Because this coin is only a couple of months old.
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How come there is only 19M in existence?
Because this coin is only a couple of months old.
OK, I thought it was older. Do you have a response to my other question?
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How come there is only 19M in existence?
Because this coin is only a couple of months old.
OK, I thought it was older. Do you have a response to my other question?
To the best of my knowledge the community has not considered restricted mining. I don't see that happening.
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Thank you for the answer :)