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[ANN] 42-coin Development Discussion Thread
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February 17, 2019, 04:00:35 AM *
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Question: [CLOSED] Round 2. Should we increase the minimum recommended tx fee in order to motivate PoW-miners (this will also increase the deflation rate)?
1) change to 0.00001000
2) leave the  0.00000001

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Author Topic: [ANN] 42-coin Development Discussion Thread  (Read 75245 times)
Ucicha
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February 04, 2019, 02:41:01 PM
 #1461

i made an Nova Exchange account, and got it verified, all under 30minutes in my case. Starting trades there soon. so far so good.
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IMZ Noo Account
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February 04, 2019, 11:36:28 PM
 #1462

i made an Nova Exchange account, and got it verified, all under 30minutes in my case. Starting trades there soon. so far so good.

Morning, Ucicha.

Been discussing trading with several devs. Wanna make my position clear:

pump and dump damages coins. Wash trading damages coins. In the long run.

But the diligent 'core' members of a community can and should 'make the market' on as many exchanges as they reasonably can. It's good for the coin. It's good for those market-makers.

And now you understand my interest in p2p trades: over time, that 'core' can create a sorta OTC thang, making considerable chunks of coin available at 'wholesale' prices -- don't laugh, IndiaMikeZulu has successfully done this.
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February 05, 2019, 06:16:32 PM
 #1463

i made an Nova Exchange account, and got it verified, all under 30minutes in my case. Starting trades there soon. so far so good.

Morning, Ucicha.

Been discussing trading with several devs. Wanna make my position clear:

pump and dump damages coins. Wash trading damages coins. In the long run.

But the diligent 'core' members of a community can and should 'make the market' on as many exchanges as they reasonably can. It's good for the coin. It's good for those market-makers.

And now you understand my interest in p2p trades: over time, that 'core' can create a sorta OTC thang, making considerable chunks of coin available at 'wholesale' prices -- don't laugh, IndiaMikeZulu has successfully done this.


Hi IMZ, i have been thinking about all you said, and am really trying to do my best, i followed your advice, and now am waiting on to see how all this will turn out. What i find hard is the fact no one is selling larger chunks, rather its all so scattered around and in "cold wallets". What is weird, i want to buy, put in a buy order and no one sells. then i buy some from the sell orders, and then 2 days later, new coins coming at so much lower than what i bought for... making the hunt for larger chunks that much more painful
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February 05, 2019, 09:18:22 PM
Last edit: February 05, 2019, 09:31:11 PM by IMZ Noo Account
 #1464

I have been thinking of running a Trading 42 101. I have a bunch of notes I wrote for a guy on Telegram.

Most everyone on Planet Krypto is looking for a fast buck. But the steady money -- a lifetime as a trader -- lies in patience, particularly for a crypto like 42. Ask me to explain what 'hoovering' is!

Magnificent summer morning here -- got mustangs nearby.
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February 07, 2019, 07:47:33 AM
 #1465

Lots of energy on the Telegram 42-Coin thread. Niiiiice.
Ucicha
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February 09, 2019, 09:52:49 PM
 #1466

I see we keep getting more members in our community, but I also see most of the new members are quite new to the whole crypto world, same as me, so I have decided to write something as a heads up from my short but intensive experience.

1. Use simple trading methods in the beginning.

Brief explanation of how to trade:
Buying: 42-coin price is going down (you get that info on coinmarketcap/ looking at exchanges)
a) you pick a currency (USD/BTC/ETH/etc.), and you "position" your BUY order close to the price it is at (example: 42 coin is dropping to 2BTC in price, you place your BUY order at, lets say at 1.95BTC)
b) and now you wait until it fills a.k.a. you BUY the coin

Selling: 42-coin price is going up (you get that info on coinmarketcap/ looking at exchanges)
a) you take some 42-coins you own, and you "position" your SELL order close to the price it is at (example: 42 coin is going up to 6BTC in price, you place your SELL order at, lets say  5.95BTC)
b) and now you wait until it fills a.k.a. you SELL the coin

2. When moving funds from wallet (and you should ALWAYS keep the majority of your funds in a "cold"/paper wallet, desktop wallet, AND it should be BACKED UP) make sure the network is up and the wallets are up on the exchange ( and NOT in maintenance mode or offline). Neglecting this could result in loss of your funds.
a) keep funds in a safe place (backed up on a USB stick or something else)

3. Test exchanges with a small transaction first. Since you can transfer very small amounts from your desktop wallet, do a small 0.00000050-0.00000100 42 coins transaction first and wait until it gets deposited.

4. Check the wallet and network status on the EXCHANGE. If its offline or in maintenance mode, wait for wallet status online, and only then proceed, again with a small test transaction first

5. Join all the communities. Telegram, Discord, forums, and participate
IMZ Noo Account
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February 10, 2019, 07:24:49 AM
 #1467

I see we keep getting more members in our community, but I also see most of the new members are quite new to the whole crypto world, same as me, so I have decided to write something as a heads up from my short but intensive experience.

1. Use simple trading methods in the beginning.

Brief explanation of how to trade:
Buying: 42-coin price is going down (you get that info on coinmarketcap/ looking at exchanges)
a) you pick a currency (USD/BTC/ETH/etc.), and you "position" your BUY order close to the price it is at (example: 42 coin is dropping to 2BTC in price, you place your BUY order at, lets say at 1.95BTC)
b) and now you wait until it fills a.k.a. you BUY the coin

Selling: 42-coin price is going up (you get that info on coinmarketcap/ looking at exchanges)
a) you take some 42-coins you own, and you "position" your SELL order close to the price it is at (example: 42 coin is going up to 6BTC in price, you place your SELL order at, lets say  5.95BTC)
b) and now you wait until it fills a.k.a. you SELL the coin

2. When moving funds from wallet (and you should ALWAYS keep the majority of your funds in a "cold"/paper wallet, desktop wallet, AND it should be BACKED UP) make sure the network is up and the wallets are up on the exchange ( and NOT in maintenance mode or offline). Neglecting this could result in loss of your funds.
a) keep funds in a safe place (backed up on a USB stick or something else)

3. Test exchanges with a small transaction first. Since you can transfer very small amounts from your desktop wallet, do a small 0.00000050-0.00000100 42 coins transaction first and wait until it gets deposited.

4. Check the wallet and network status on the EXCHANGE. If its offline or in maintenance mode, wait for wallet status online, and only then proceed, again with a small test transaction first

5. Join all the communities. Telegram, Discord, forums, and participate

This is really high quality, Ucicha. Thanks for your effort. I posted it on the Telegram 42 thread.
Ucicha
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February 10, 2019, 10:41:29 AM
 #1468

I have a great teacher, hehe. Thank you IMZ for the lectures!
IMZ Noo Account
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February 11, 2019, 08:12:03 AM
Last edit: February 11, 2019, 08:25:35 AM by IMZ Noo Account
 #1469

I have a great teacher, hehe. Thank you IMZ for the lectures!

Have PM-ed you some further notes. It's impressive that you see the value of helping newcomers.

And 'averaging':

if a member has thoroughly analysed an established crypto, and is ready to commit some capital to mid- and long-term trading, then averaging is a valuable practice. It goes roughly like this (you have the notes):

One: you maintain a dual focus: cryptos overall and the crypto(s) you're trading.

Two: you trade according to your skills. For the less skilled, that's when the coin is 'flat' or gently rising (and I mean over months and months). The wisest thing you can do is to not trade.

Three: decide what your 'exchange-exposure risk' is -- that might be 0.1 Bitcoin or much more. And never let your total capital on that exchange get more than about ten percent over that mark -- NEVER!! And let me be clear here: this is an insight into surviving as a crypto geek/trader. For every Moon Lambo Guy you hear about, there were a hundred who lost their capital, and slunk away. So you are gonna make much less profit on the spikes ('cause you'll sell earlier, and never put too much coin on exchanges . . . ) But over time, you will thrive.

Four: as you puddle quietly along, withdraw amounts of both Bitcoin and 42. Remember, your Bitcoin is how you get 42 when the price is down! And mark the values of the 'packets' you withdraw.

Five: then, when/if the market drops out from under you, but you have a nice chunk of cheap 42 that you bought a year ago, you can calculate the average buy-in price:

10 Coin X at 10,000 sats each + 20 Coin X at 3,000 sats each = 30 Coin X at 5,333 each.

Suppose you just bought Coin X at 10,000 per. Then the market crashes to 5,300.  You don't have any coin on the exchange that you can even sell at a break-even price. "OMG OMG!! Panic panic!!" Nuh. You transfer the 20 on, and put the whole 30 up to sell at 5,334; sell 'em; get a chunk of Bitcoin; and keep trading.




 

Ucicha
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February 11, 2019, 10:41:10 AM
 #1470

I have a great teacher, hehe. Thank you IMZ for the lectures!

It's impressive that you see the value of helping newcomers.




we have a saying: "You are, like the ones you hang out with."
and i am hanging out here with you
Ucicha
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February 12, 2019, 08:26:10 PM
 #1471

Update:

Nova Exchange working great, Livecoin working great(a transaction a few days old went through, the specific wallet is now online, so thats a point there), Trade Satoshi even has a working faucet(free coins you can pick up and start trading with, so point there)

Heard about altmarkets reopening trade too, so will check that out too
IMZ Noo Account
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February 13, 2019, 12:40:46 AM
 #1472

Update:

Nova Exchange working great, Livecoin working great(a transaction a few days old went through, the specific wallet is now online, so thats a point there), Trade Satoshi even has a working faucet(free coins you can pick up and start trading with, so point there)

Heard about altmarkets reopening trade too, so will check that out too

I am gonna try to keep a tight buy-spread on 42 on Nova. Gotta make 42 attractive.
CaridwenDean
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February 13, 2019, 02:34:31 AM
 #1473

 I would like to clarify what exactly the platform will do, it will store the data of users of finance service , it may be worth changing the information about the project, so that more users understand what it is about
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February 13, 2019, 05:04:20 AM
 #1474

What is ‘packing the gap’? and why should we do it?

Wide buy-sell spreads are bad for development. But what happens is that a small community becomes happy to plod along with a wide buy-sell spread – it’s profitable for them.

Suppose 42’s buy-sell spread is 5.0-4.0. If you get in at 4.0, and sell at 5.0, that’s 25%
So, buy at 4.0 and sell at 4.4 – that’s 10%. Buy at 4.0 and sell at 4.2% -- that’s 5% (but fees. So . . . 4.25%?)

Tl;dr: many trades at small margins.
Atheneum Blockchain
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February 13, 2019, 05:08:31 AM
 #1475

  I don't understand the purpose of the project.  Is meant more to be like a thought experiment?
Atheneum Blockchain
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February 13, 2019, 05:11:42 AM
 #1476

forked, prohashing.com and some others should resync

No forks. Prohashing node is offline.

maybe offline but i kept ending up at 100,093 with no chance to advance, until resynced

What is your wallet version?

42-v0.0.9-bdb-mingw
Jun 13 2018, 15:39:01

Where is the latest wallet version for download?
Lasergun
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February 13, 2019, 01:17:46 PM
 #1477

  I don't understand the purpose of the project.  Is meant more to be like a thought experiment?

Is meant more to be like a tool for diversification and investment safe.

Where is the latest wallet version for download?

https://bitcointalk.org/index.php?topic=1502028.0#post_op_wallet
Ucicha
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February 13, 2019, 03:38:50 PM
 #1478

  I don't understand the purpose of the project.  Is meant more to be like a thought experiment?

Personally, I find it so much fun giving it a "Deep Thought"
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February 15, 2019, 01:07:13 PM
 #1479

  I don't understand the purpose of the project.  Is meant more to be like a thought experiment?

Hi, A.B. Not a thought experiment.

42 is a crypto 'instrument' -- a commodity, an investment -- that is, it is actually deflationary.
Ucicha
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February 15, 2019, 04:07:04 PM
 #1480

I keep learning new stuff about this coin by the day. You should all join communication channels, Telegram, Discord, this forum. Information is rare as the coin, but there is value in that too.
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