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Overview of Major Risks of Buying Nyancoins - Version 6

This is the sixth version of the NYAN risks document (based on v5 (v4 (v3 , v2 and original)). These are obsoleted periodically as the old ones get archived to allow for comments again via a new post, to re-examine the risks in light of changes, and for greater visibility.
The purpose of these documents is to provide a best-effort discussion of major risk factors in gambling on NYAN, modeled on the risks disclosure in a 10k (annual report) which is mandated for publicly traded companies in the United States. This document is provided with no guarantee that major risk factors have not been missed, and it is important to recognize my (coinaday) personal bias from holding about one-third of the total supply of NYAN.
Please comment on any risks which are not mentioned here or additional aspects of risks here you think should be further emphasized or any other possible disclosure you think would be helpful to a person considering gambling on NYAN.
Executive summary
Nyancoins have no exchange, no core developer at the moment, uncertain demand, have had inconsistent blocks, are very vulnerable to 51% attacks, have the potential for serious bugs, an uncertain legal situation, concentrated ownership, low liquidity, depend upon the Internet, may be addictive, and could make you wealthy, which has been alleged to lead to more problems.
Introduction: This is my best attempt to collect every major risk factor from buying Nyancoins, although I can offer no warranty of fitness for this information for any purposes. I believe in honesty and forthrightness. Having this available and obvious is a simple matter of basic decency. Much, hopefully all, of this information has been discussed previously in /nyancoins, but this document in particular is about being up-to-date and central. This page will be updated clearly as appropriate if situations change on a best-effort basis (which may mean updates do not happen for months at times, unfortunately; please ping for faster updates).
If you believe that I am missing something, please note any other major risks you see in the comments.
Exchanges:
Nyancoins are not currently traded on any exchange. It may be listed on one minor exchange but have no volume there. Obviously an unlisted cryptocurrency is in a bad situation. I hope to see us gain a listing on an exchange which supports low volume coins in 2020 but I have no current prospect of this and it should be considered a longshot at best.
Previously we traded on Trade Satoshi and prior to that on Cryptopia and prior to that on Cryptsy. All three exchanges failed us (Trade Satoshi delisted without allowing withdrawal; Cryptopia delisted and failed to provide withdrawal and then went bankrupt; Cryptsy went bankrupt). This is a further reminder that exchanges are a major risk and one should be extremely careful to not keep more coins on there than one can comfortably afford to lose.
In theory, there are decentralized exchange technologies, notably CATE; however, I think we currently lack some needed APIs for this. I'm not certain but we haven't demonstrated the capability yet. On-Reddit exchanges are also possible with tipbots, but require trust as they are not atomic. It should be possible to build an "exchangebot" similarly, although I'm not currently aware of one, but my concept would still have the bot as a trusted central party.
Atomic cross-chain transactions seem to me like a very promising core technology ultimately for building exchanges which can be more proveably secure. They could also allow exchanges to share a common listing protocol as well without having to trust the other exchanges (at least, beyond the core protocol development and maintenance; tanstaafl). This is not yet accomplished though and in the meantime we remain vulnerable to periodic exchange failures.
Core developer: Although we have good general tech support in this community and have put up supporting infrastructure, there is not anyone officially currently working on core client code. This is a significant problem for the long-term, although we are not in any immediate known need of changes.
ImASharkRawwwr has returned to the community and may do future client updates, but I'm leaving the lack of core developer risk unchanged until there is an update released. This is not intended as a slight in any way but merely being cautious in the risks document and recognizing that we aren't certain when or if there will be a next release.
Demand: NYAN was introduced in 2014 and during the second half of that year had so little demand that it almost died out. In January 2015 I got involved in the coin and for most of 2015 and 2016 I was the majority of the buying pressure. I base these statements on my recollection of the trading history so far and the fact that I have acquired more than 120 million coins, somewhere around 41% of the coins (latest hodling report, June 2017), as well as my observations that I had usually had the leading major bid, and usually the leading bid regardless of size.
In 2017, I have generally not been a major factor in the demand, as I haven’t had money to spare to gamble on NYAN. In June 2017, we have had a spike in buying from an unknown source.
It is unknown whether significant demand for NYAN will continue. Because its value is purely speculative, it is entirely possible that demand for NYAN could simply end. This is a fundamental risk in gambling on NYAN; it is entirely possible that its value will go to zero and not recover.
By the end of 2019, we lost exchange listing. I know of no current demand for NYAN. I hope to see us listed and demand exist in the future but should not be relied upon. NYAN last traded around 9 satoshi according to coinmarketcap but it may well not even trade that high even if relisted someday - there could be a flood of selling and no buyers.
Inconsistent blocks:
Although NYAN is designed to produce a block every minute, there have been times where there has been more than 24 hours between blocks. This results because of an imperfect difficulty function and low base hashing, along with price fluctuations, which can combine to have a low difficulty making the coin attractive for a flood of hashing power which can lead the difficulty function to overcompensate, leaving it stuck with a high difficulty no longer profitable to mine.
I haven’t observed this lately, that is, I don’t recall incidents of this in 2017, but I’ve been paying far less attention to it as well. It is entirely possible for this to recur, as the difficulty function is not fixed (it would require a hard fork to fix it). We seem to have more baseline hashing which helps to avoid this, but it is possible for us to lose that.
A workaround is to use large transaction fees (I've set my client to 337 NYAN) which is enough to cause pools to generally solve a block even if the chain were otherwise stuck. It may be possible to include a better difficulty function in a hard fork client, but it is unknown when if ever this would be done and it's not yet clear what design improvement if any would fix this.
51% attack: Because of the generally quite low hashing power on NYAN, it is highly vulnerable to a 51% attack. Either a leading pool or a new one could choose to do a denial-of-service attack, whether for extortion, lulz, or some other reason (like coinaday being annoying). Such an attack is capable of preventing any transaction processing for as long as it is sustained. I consider this a relatively low risk since I expect we would simply wait it out (and potentially not even notice such an attack for quite a while given the low volume of transactions currently), but it is definitely a potential vulnerability.
Bugs: It is possible that there are bugs in the underlying code. I have never read through all of the bitcoin or nyancoin code, of any version, nor even studied the original bitcoin whitepaper in depth (by the way, we oughta make up a nyancoin whitepaper or ten someday), meaning I have no professional or technical knowledge about whether or not the system is fundamentally sound. I've been going based on "it seems to be working, so it's probably fine", which is, shall we say, more of an engineering than scientific approach.
I have heard reference to a "time warp" bug vulnerability in the KGW difficulty function which Nyancoins has. I do not know details and my understanding is a fix to this would require a fork to change the difficulty function, so I do not anticipate a fix before NYAN3, the term for an eventual hard fork, but it is unknown when if ever this would be done. I consider this vulnerability to be likely to be related to the fundamental weakness to difficulty spikes after large amounts of hashing jumps on the network. Hostile (or simply passing interest with large capacity) hashing does degrade the performance of the network. As a workaround, this class of attack can be mitigated with a transaction to 'unstick' the chain after, since the difficulty function will adjust in the next block after enough wall-time has passed since the last block (so only need one high difficulty solve which can be triggered by a transaction fee).
Legal: Bitcoin faces uncertain legal situations in almost every country. Nyancoin is even more uncertain, as people tend to consider bitcoin and not address impacts on altcoins. Between the potential tax implications and banking regulations and currency laws, there are a wide variety of ways a person could make a felony-level mistake. This can be somewhat mitigated by merely buying and holding, as you won't be responsible for KYC/AML presumably (although an argument could be made in your purchase), and presumably unrealized capital gains wouldn't be taxable (but I am neither a lawyer nor accountant nor any sort of expert on the relevant accounting laws in any country).
Somehow getting legal opinions for Nyancoins in every country would be very useful in my opinion. If Bitcoin and altcoins are well-studied in a given country it should be relatively easy to adapt those opinions and research to Nyancoins, but it would still require some pro bono work in any case. So...hopefully we'll get some lawyer Nekonauts someday who are willing to semi-officially give us an opinion. In the meantime...hope that common sense can save you. If you sell Nyancoins directly, you're going to need to comply with the KYC/AML types of laws of your country. If you're going to do banking operations...may the central bank have mercy on your soul.
I think the best advantage we have is the same bitcoin had for its first years: we're too small for anyone to care. But since we plan to grow significantly, we need to be aware of our legal issues upon scale. Which is to say, whether or not you're allowed to sell 10,000 NYAN to your friend probably has a lot to do with whether your friend legally acquired whatever is being offered in exchange, and whether the value of what you get in return is above a certain level or not. I'm not going to try guessing that level precisely because I know I'll be wrong. $1 is probably fine. $10,000 is probably illegal without some significant licensing. I would suggest either not touching fiat or else deliberately capping it without verification after getting an independent local expert legal opinion.
concentration: The fact that I hold about 41%(? not sure the exact percentage as of Dec 2017 ; need to do updated survey to check; 41% sounds slightly high to me but I'll see...I'll try to update by the end of the year or shortly after) of the currently outstanding NYAN could be a major risk factor, particularly if I do not act in the best long-term interests of the strength of Nyancoins. For instance, I could pull my bids, sell only a small part of my holdings, crash the market, and potentially buy a lot of volume for a lower price. While I cannot foresee any circumstance under which I would do this, it is certainly conceivable that I could be financially, legally, or morally obligated to do so if I were to become insolvent.
Liquidity: There is very little trading activity in NYAN. Therefore, large purchases will drive the price up and large sales will drive the price down. This means that entering and exiting a position is likely to result in "slippage", so even if the price has increased slightly overall since the time before one entered a position to the time before one exits it, it is quite possible that the overall trade will be neutral or negative as a result of the pressure on the market. For an extreme example, my own position would be essentially impossible to exit from the market without crashing the price, and even so it would likely be difficult to find buyers even at a satoshi, based on that I currently am the majority of the bids on the market. This is closely tied to the concentration risk but if I were to exit NYAN for any reason or simply fail to continue to renew bids the liquidity would dry up even further.
At the end of 2019, having no exchange, there is functionally zero liquidity. In theory peer to peer trading could still be done but I’m unaware of any.
Internet outage: if the Internet goes down, we hit a very nasty scenario. We can't process transactions, and all the miners go into a race to make 'useless' blocks on their own. If the Internet were never to come back up, Nyancoins would be dead. If there is a daylong internet outage, the longest blockchain discovered after, presumably representing the most hashing power dedicated to empty blocks during that outage, will win. So I suppose the block rewards in that case are for having the faith in Nyancoins to keep hashing and storing the blockchain during the day without the Internet.
addictive: This was a curiosity to me when I started. Now it's an obsession for me. I'm constantly thinking about how I can help to smooth the path for Nyancoins to grow stronger and better and more valuable. You may find that once you start to realize the impact you can have upon Nyancoins, and that Nyancoins can have upon you, that you start to become addicted as well. It is possible to substitute another addiction in its place, such as dogecoins or pcp, but it is not recommended.
Nyancoin addictions are considered 'mostly harmless'. The exception is if you go 'full coinaday' and start to accumulate more than 10% of your assets in Nyancoins. In this, this is essentially a variety of gambling addiction. I would argue that it beats roulette because you can tilt the odds in your favor, but then, I would argue that, wouldn't I?
mo' nyan mo' problems: Some people have claimed that more money leads to more problems. Since nyan is money, it follows as a consequence of the conjecture. Should this be the case, your increasing nyan could potentially lead to such problems in the future as: enhanced attention from revenue collection services of all kinds (governmental and private), swarms of fake friends and gold-diggers, excessive risk-taking as a result of feelings of invincibility, an increase in certain varieties of targeted marketing, possible disqualification for asset-based welfare for you (or even your children, for instance college financial assistance), an inability to remember how many houses you own, or other serious problems.
Conclusion
The lack of any exchange trading Nyancoins is a major risk factor in its future survival. If it is listed, the lack of development is likely the next most serious. The coin currently survives but whether it will continue to do so in the future is far from certain. If those of us who have found or come back to NYAN choose to keep it alive, I believe it still has a chance at surviving into a stronger future.
This self-certified infallible message has been brought to you as a Public Service Announcement of the NYAN Public Relations Council, a transparent front organization of notoriously lovable philanthropist and major NYAN hodler coinaday.
submitted by coinaday to nyancoins [link] [comments]

Overview of Major Risks of Buying Nyancoins - Version 5

This is the fifth version of the NYAN risks document (based on v4 (v3 , v2 and original). These are obsoleted periodically as the old ones get archived to allow for comments again via a new post, to re-examine the risks in light of changes, and for greater visibility.
The purpose of these documents is to provide a best-effort discussion of major risk factors in gambling on NYAN, modeled on the risks disclosure in a 10k (annual report) which is mandated for publicly traded companies in the United States. This document is provided with no guarantee that major risk factors have not been missed, and it is important to recognize my (coinaday) personal bias from holding about one-third of the total supply of NYAN.
Please comment on any risks which are not mentioned here or additional aspects of risks here you think should be further emphasized or any other possible disclosure you think would be helpful to a person considering gambling on NYAN.
Executive summary
Nyancoins have no core developer at the moment, uncertain demand, are traded actively on only one exchange, have had inconsistent blocks, are very vulnerable to 51% attacks, have the potential for serious bugs, an uncertain legal situation, concentrated ownership, low liquidity, depend upon the Internet, may be addictive, and could make you wealthy, which has been alleged to lead to more problems.
Introduction: This is my best attempt to collect every major risk factor from buying Nyancoins, although I can offer no warranty of fitness for this information for any purposes. I believe in honesty and forthrightness. Having this available and obvious is a simple matter of basic decency. Much, hopefully all, of this information has been discussed previously in /nyancoins, but this document in particular is about being up-to-date and central. This page will be updated clearly as appropriate if situations change on a best-effort basis (which may mean updates do not happen for months at times, unfortunately; please ping for faster updates).
If you believe that I am missing something, please note any other major risks you see in the comments.
Core developer: Although we have good general tech support in this community and have put up supporting infrastructure, there is not anyone officially currently working on core client code. This is a significant problem for the long-term, although we are not in any immediate known need of changes.
ImASharkRawwwr has returned to the community and may do future client updates, but I'm leaving the lack of core developer risk unchanged until there is an update released. This is not intended as a slight in any way but merely being cautious in the risks document and recognizing that we aren't certain when or if there will be a next release.
Demand: NYAN was introduced in 2014 and during the second half of that year had so little demand that it almost died out. In January 2015 I got involved in the coin and for most of 2015 and 2016 I was the majority of the buying pressure. I base these statements on my recollection of the trading history so far and the fact that I have acquired more than 120 million coins, somewhere around 41% of the coins (latest hodling report, June 2017), as well as my observations that I had usually had the leading major bid, and usually the leading bid regardless of size.
In 2017, I have generally not been a major factor in the demand, as I haven’t had money to spare to gamble on NYAN. In June 2017, we have had a spike in buying from an unknown source.
It is unknown whether significant demand for NYAN will continue. Because its value is purely speculative, it is entirely possible that demand for NYAN could simply end. This is a fundamental risk in gambling on NYAN; it is entirely possible that its value will go to zero and not recover.
Exchanges:
Trade Satoshi is currently the only exchange for Nyancoins with significant volume. If Trade Satoshi were to fail somehow, it is likely that this would have significant consequences for Nyancoins.
Previously we traded on Cryptopia and prior to that on Cryptsy. Both exchanges failed. This is a further reminder that exchanges are a major risk and one should be extremely careful to not keep more coins on there than one can comfortably afford to lose.
In theory, there are decentralized exchange technologies, notably CATE; however, I think we currently lack some needed APIs for this. I'm not certain but we haven't demonstrated the capability yet. On-Reddit exchanges are also possible with tipbots, but require trust as they are not atomic. It should be possible to build an "exchangebot" similarly, although I'm not currently aware of one, but my concept would still have the bot as a trusted central party.
Atomic cross-chain transactions seem to me like a very promising core technology ultimately for building exchanges which can be more proveably secure. They could also allow exchanges to share a common listing protocol as well without having to trust the other exchanges (at least, beyond the core protocol development and maintenance; tanstaafl). This is not yet accomplished though and in the meantime we remain vulnerable to periodic exchange failures.
Inconsistent blocks:
Although NYAN is designed to produce a block every minute, there have been times where there has been more than 24 hours between blocks. This results because of an imperfect difficulty function and low base hashing, along with price fluctuations, which can combine to have a low difficulty making the coin attractive for a flood of hashing power which can lead the difficulty function to overcompensate, leaving it stuck with a high difficulty no longer profitable to mine.
I haven’t observed this lately, that is, I don’t recall incidents of this in 2017, but I’ve been paying far less attention to it as well. It is entirely possible for this to recur, as the difficulty function is not fixed (it would require a hard fork to fix it). We seem to have more baseline hashing which helps to avoid this, but it is possible for us to lose that.
A workaround is to use large transaction fees (I've set my client to 337 NYAN) which is enough to cause pools to generally solve a block even if the chain were otherwise stuck. It may be possible to include a better difficulty function in a hard fork client, but it is unknown when if ever this would be done and it's not yet clear what design improvement if any would fix this.
51% attack: Because of the generally quite low hashing power on NYAN, it is highly vulnerable to a 51% attack. Either a leading pool or a new one could choose to do a denial-of-service attack, whether for extortion, lulz, or some other reason (like coinaday being annoying). Such an attack is capable of preventing any transaction processing for as long as it is sustained. I consider this a relatively low risk since I expect we would simply wait it out (and potentially not even notice such an attack for quite a while given the low volume of transactions currently), but it is definitely a potential vulnerability.
Bugs: It is possible that there are bugs in the underlying code. I have never read through all of the bitcoin or nyancoin code, of any version, nor even studied the original bitcoin whitepaper in depth (by the way, we oughta make up a nyancoin whitepaper or ten someday), meaning I have no professional or technical knowledge about whether or not the system is fundamentally sound. I've been going based on "it seems to be working, so it's probably fine", which is, shall we say, more of an engineering than scientific approach.
I have heard reference to a "time warp" bug vulnerability in the KGW difficulty function which Nyancoins has. I do not know details and my understanding is a fix to this would require a fork to change the difficulty function, so I do not anticipate a fix before NYAN3, the term for an eventual hard fork, but it is unknown when if ever this would be done. I consider this vulnerability to be likely to be related to the fundamental weakness to difficulty spikes after large amounts of hashing jumps on the network. Hostile (or simply passing interest with large capacity) hashing does degrade the performance of the network. As a workaround, this class of attack can be mitigated with a transaction to 'unstick' the chain after, since the difficulty function will adjust in the next block after enough wall-time has passed since the last block (so only need one high difficulty solve which can be triggered by a transaction fee).
Legal: Bitcoin faces uncertain legal situations in almost every country. Nyancoin is even more uncertain, as people tend to consider bitcoin and not address impacts on altcoins. Between the potential tax implications and banking regulations and currency laws, there are a wide variety of ways a person could make a felony-level mistake. This can be somewhat mitigated by merely buying and holding, as you won't be responsible for KYC/AML presumably (although an argument could be made in your purchase), and presumably unrealized capital gains wouldn't be taxable (but I am neither a lawyer nor accountant nor any sort of expert on the relevant accounting laws in any country).
Somehow getting legal opinions for Nyancoins in every country would be very useful in my opinion. If Bitcoin and altcoins are well-studied in a given country it should be relatively easy to adapt those opinions and research to Nyancoins, but it would still require some pro bono work in any case. So...hopefully we'll get some lawyer Nekonauts someday who are willing to semi-officially give us an opinion. In the meantime...hope that common sense can save you. If you sell Nyancoins directly, you're going to need to comply with the KYC/AML types of laws of your country. If you're going to do banking operations...may the central bank have mercy on your soul.
I think the best advantage we have is the same bitcoin had for its first years: we're too small for anyone to care. But since we plan to grow significantly, we need to be aware of our legal issues upon scale. Which is to say, whether or not you're allowed to sell 10,000 NYAN to your friend probably has a lot to do with whether your friend legally acquired whatever is being offered in exchange, and whether the value of what you get in return is above a certain level or not. I'm not going to try guessing that level precisely because I know I'll be wrong. $1 is probably fine. $10,000 is probably illegal without some significant licensing. I would suggest either not touching fiat or else deliberately capping it without verification after getting an independent local expert legal opinion.
concentration: The fact that I hold about 41%(? not sure the exact percentage as of Dec 2017 ; need to do updated survey to check; 41% sounds slightly high to me but I'll see...I'll try to update by the end of the year or shortly after) of the currently outstanding NYAN could be a major risk factor, particularly if I do not act in the best long-term interests of the strength of Nyancoins. For instance, I could pull my bids, sell only a small part of my holdings, crash the market, and potentially buy a lot of volume for a lower price. While I cannot foresee any circumstance under which I would do this, it is certainly conceivable that I could be financially, legally, or morally obligated to do so if I were to become insolvent.
Liquidity: There is very little trading activity in NYAN. Therefore, large purchases will drive the price up and large sales will drive the price down. This means that entering and exiting a position is likely to result in "slippage", so even if the price has increased slightly overall since the time before one entered a position to the time before one exits it, it is quite possible that the overall trade will be neutral or negative as a result of the pressure on the market. For an extreme example, my own position would be essentially impossible to exit from the market without crashing the price, and even so it would likely be difficult to find buyers even at a satoshi, based on that I currently am the majority of the bids on the market. This is closely tied to the concentration risk but if I were to exit NYAN for any reason or simply fail to continue to renew bids the liquidity would dry up even further.
Internet outage: if the Internet goes down, we hit a very nasty scenario. We can't process transactions, and all the miners go into a race to make 'useless' blocks on their own. If the Internet were never to come back up, Nyancoins would be dead. If there is a daylong internet outage, the longest blockchain discovered after, presumably representing the most hashing power dedicated to empty blocks during that outage, will win. So I suppose the block rewards in that case are for having the faith in Nyancoins to keep hashing and storing the blockchain during the day without the Internet.
addictive: This was a curiosity to me when I started. Now it's an obsession for me. I'm constantly thinking about how I can help to smooth the path for Nyancoins to grow stronger and better and more valuable. You may find that once you start to realize the impact you can have upon Nyancoins, and that Nyancoins can have upon you, that you start to become addicted as well. It is possible to substitute another addiction in its place, such as dogecoins or pcp, but it is not recommended.
Nyancoin addictions are considered 'mostly harmless'. The exception is if you go 'full coinaday' and start to accumulate more than 10% of your assets in Nyancoins. In this, this is essentially a variety of gambling addiction. I would argue that it beats roulette because you can tilt the odds in your favor, but then, I would argue that, wouldn't I?
mo' nyan mo' problems: Some people have claimed that more money leads to more problems. Since nyan is money, it follows as a consequence of the conjecture. Should this be the case, your increasing nyan could potentially lead to such problems in the future as: enhanced attention from revenue collection services of all kinds (governmental and private), swarms of fake friends and gold-diggers, excessive risk-taking as a result of feelings of invincibility, an increase in certain varieties of targeted marketing, possible disqualification for asset-based welfare for you (or even your children, for instance college financial assistance), an inability to remember how many houses you own, or other serious problems.
Conclusion
There are a variety of different risks in buying Nyancoins. I believe the most serious one is the developer issue. If those of us who have found or come back to NYAN abandon it, it could die. Otherwise, I consider the risks generally manageable, but exchange failure or a currently unknown bug could do serious damage to the ecosystem as well.
This self-certified infallible message has been brought to you as a Public Service Announcement of the NYAN Public Relations Council, a transparent front organization of notoriously lovable philanthropist and major NYAN hodler coinaday.
submitted by coinaday to nyancoins [link] [comments]

How to accept Dogecoin with your business, and why. A few pointers.

THE UPDATED VERSION OF THIS POST CAN BE FOUND HERE.
You are a business owner and sell goods or services. You heard about Dogecoin. You wonder how you can use it in your business. This thread is for you.
If you have no idea what Dogecoin is, read up on it here (click). In short, it is a digital currency that is perfect for everyday use. Read on if you want to know why it would be good for your enterprise.
Why should I accept payments in Dogecoin? 
Dogecoin offers you:
Dogecoin can be exchanged to national currencies. You can do this easily by yourself or use the automatic conversion offered by some payment processors (all is explained further down). You can also just keep your Dogecoin and spend it or offer it to your employees! :)
Dogecoin is fun and it gets ever more useful the more people like you use and accept it. There are other merchants who have gone this path before you - you can read interviews about them and their experiences on this blog. You can also talk with other merchants in /dogevendors, check out these testimonials ([1, 2], 3), search this subreddit and post any questions you have right here!
I want to accept donations. What are my options? 
Just download the client and put up the wallet address up on your page with donation info. Done! That's it! If you want something snazzy, check out this widget or this one (or this one) (or this one).
If you need to track who sent you how much money (for goodies and that), you could ask that donators tell you that they're sending you a very specific amount of coins (e.g. 100.424242), and match it to their name. However, this can be abused as your transaction history is public. If you're actually selling stuff, check out the next section instead.
I sell stuff online. What are my options? 
You have a lot! It boils down to one of these:
The last option can be interesting if you don't have your own web store, are selling digital goods and/or are just selling on as a side business. If your business is your main income, handling payment yourself is probably better.
1) Manually processing transactions
All you need for this is a Dogecoin wallet. You simply generate a payment address for each of your customers, send it to them and confirm that your coins arrived at the address. This is super fast to set up and there is absolutely no commitment.
If you just want to try it out before investing a lot of effort, just set up a wallet (either with the Dogecoin desktop client or an online wallet (listed under Browser "here") and let your customers know that they can now pay with Dogecoin. You can use some of these buttons if you wish( 1 2 3 4 5) and browse this asset repository of useful artwork. The graphical interface is still being developed, but you can browse the files and find license information already :)
2) Automatically processing transactions
Check out the section on APIs and payment processors further down!
3) Selling stuff through a 3rd-party site
There are a number of sites that function a lot like eBay, Etsy and Xmart. You enter your products and they handle the payment and web store stuff. This is most convenient if you have digital goods to sell (music, books...) and want to send them out automatically.
If you are an Etsy user who wants to accept Dogecoin, click here.
I sell from a physical store or location. What are my options? 
All you need is an internet connection in your store and a web-capable device, such as a mobile phone, cheap tablet or a nearby PC. On-site, your customers can send you coins using their phone, or you can sell coupons for your goods online in advance.
DogePos is a point-of-sales app that is open source and Koupah announced that they will accept Doge as well. You can use or apply for all of these tools right now! Either way, all you need is a way to 1) convert a USD price into Doge, and to 2) check that the coins have arrived in your wallet.
To check your wallet balance and Doge prices, you can use the app MyDOGE oniPhones and iPads, and this app on Android devices. This is one of many useful price converter websites you can bookmark. Checking your balance on the PC can be done with the wallet client.
If you want to sell your goods or coupons for them online, it might be easiest use a ready-made stores capable of digital distribution. Check point "3)" in the above section for some options.
Dogecoin payment processors, APIs, checkouts 
Currently, the established platforms accepting Dogecoin seem to be these:
I'm trying a tentative summary here to save you some research, but I'd appreciate comments a lot. None of the three have setup or monthly fees (except some optional subscriptions).
GoCoin:
Coinpayments:
You can probably find people who have used one of these in this thread. This guy volunteered his code for automatic currency conversion and his help setting up the plugin for OpenCart, for example!
If you are tech-inclined, you could run your own payment server with dogecoind and an API like this. This is not yet ready for laypeople though, so don't do that unless you want to get messy.
Exchanging Doge to USD/EUGBP/other national currencies 
If you don't have your payment processor do it for you, at some point you will want to get your Doge converted to your currency of choice, which you should do at an exchange. Keep in mind that you will have to get registered and verified at the exchange, which can take up to a week.
Transfers to and from national currency can take a few days, but trading and transferring digital currencies is very fast and usually near-instant. The following exchanges let you trade your Doge for national currency directly (last updated Sep 17):
If your currency is not listed above, you can either sell your Doge here, or exchange them to Bitcoin and then sell those. I find Kraken (EUR, KRW, USD) to be the best option for EUR, but you can sell Doge for BTC on all of the exchanges mentioned above, or choose one from this list. To sell BTC for national currency, you can also go to Justcoin or LocalBitcoins. There are many similar sites - just pick the one you like best!
Things get developed incredibly fast and Dogecoin is not even a year old. This will only get easier, so keep checking back! Justcoin is looking to trade Dogecoin to national currency, and others are sure to follow.
Alright! How do I promote my business now that I accept Dogecoin? 
Note that there's a collection of Dogecoin artwork and assets for you to use in this repository, complete with license information so you can design your promotions and website with it.
1) Submit your business to these directories:
2) If you are a brick-and-mortar store, mark your business on these maps [1, 2]. Post if you have problems!
3) Make a promotion post in one of these subreddits:
You will get views, especially if you offer an interesting product or a Doge-related promotion. Hint: the best promotion is to offer a few % off for all Dogecoin purchases. Also post and comment to this just to discuss your plans and ask your questions. Come talk to us here and in /dogevendors, we are a fun community :)
This post is not updated anymore. Check the thread linked at the top of this post for the newest version. The last big edits were on Aug 4 (DogeAPI, Prelude) and Sep 17 (Updates on exchanges and websites) and Oct 22 (Moolah).
submitted by animeturtles to dogecoin [link] [comments]

Dogecoin is still the strongest altcoin behind Bitcoin, and here is why.

I have just witnessed a very special week on /Dogecoin. A few things seem to have happened in the past 7 days.
-Positivity coming back into the subreddit.
-Higher level of activity in the subreddit, more posts, more comments.
-People starting to act, rather than just talk. What can we do to make Dogecoin better?
-Prices stabilizing at a level that allows people to buy back in at a sensible and realistic price, outside of the influence of a pump and dump.
-An end in sight to the drama. In the past week, drama started to disappear.
In all honesty, there was one blip yesterday with regards to drama, but then I saw something beautiful happen, that I have not seen for weeks in the Dogecoin community. The tide turned. Yesterdays drama post went from 300 uprockets early in the day, all the way down to just 100 by the evening. People were finally done with it, and we could begin to move on. People finally decided it was no longer relevant, and we no longer wanted it on our front page. People voted with their voting buttons, and started to vote that toxic content downward and away. Subsequent follow up posts to said drama also struggled to make it onto the front page and faced a barrage of downvotes. People remembered that Reddit is a democracy, and when content is no longer wanted, it can be voted on as such.
Let me also address the FUD. A lot of the FUD being posted by trolls seems to suggest that Dogecoin has nothing going for it apart from community. That we have no innovation, or commerce, or starts ups. This is simply not true. We have more start ups, more acceptance, more popularity, and are more well known that practically every other altcoin. We have a larger community, that every other altcoin, and whenever I see a new place is accepting altcoins, it almost always shows "We accept Bitcoin and Dogecoin", or "We accept Bitcoin, Litecoin and Dogecoin". We are still a top 3 crypto, even if our price doesn't reflect that right now.
Our price has decreased yes. But we are still so very strong. We were hit very hard by a pump and dump, and yes, we did all buy into the hype. But now our price actually better reflects where we are right now. Before the pump started we were at 25sat, and now we seem to be stabilizing at 35sat. This means we survived a pump and dump, and came out 10sat higher in price. I think considering the amount of new coins produced since January, a 10sat increase in price is stable, and most accurately reflects the work the community has done right now.
I always felt bad after I bought in at 25sat, that so many people shortly afterwards got ripped off, and bought at an inflated price. And they must feel quite stung right now. But now is a great time to buy back in. Finally, people can buy back in at a sensible price, a price which is not the result of a pump and dump, but most likely, is the current value of our coin. By buying in, you are making a confidence vote that Dogecoin does have a future.
There are a lot of indicators to suggest the price is now very strong at 35sat. We have large buy walls consistently reposted on Cryptsy, which means big investors seem to be looking at our coin again. Everytime the price falls by a single satoshi, people rush to get their buy orders in as quick as possible, suggesting that we have reached the bottom, our true base price.
The buy walls are interesting, because in BTC, they appear to be the same sized walls we had at 100sat, which fell. But it is wrong to look at the size of the buywalls in BTC. At this price, the same amount of BTC is buying 3 times as much Dogecoin as it did at 100sat. And the walls are holding much firmer. People are not as willing to sell at this price, and people are scrambling to buy. And when someone does sell, new buyers scramble to get the 1sat discounted prices.
Also we cannot ignore BTC38, our main Chinese exchange. The buy demand, and size of the buy walls there has been insane this past week.
Now we have reached our base price, I think something magical might happen. And that is a halving in a few days time. I hear the FUD posters cry "Halvings never made the price go up before". But this time is different. This time our price is not already overinflated, but just right. Our price didn't go up before, because it was already too high. A halving will cut new supply in half, as the name suggests, and the current supply seems to only just be meeting a recently increased level of buyer demand. It might take a few days, but what we might see, is actual natural, stable increased price, which is not the result of a pump. A pump may follow this good news, as it always does in Crypto, but the underlying dynamics are solid.
And there are a lot of people interested in Dogecoin. Sure, activity has dropped off in this subreddit, but most of the subscribers are hanging in the background. There are lots of quiet holders who don't check the sub anymore, but still subscribe. They see our most popular posts on our front page. And some sold out completely, but are waiting on the sidelines with BTC ready to see what we do next. You only have to look at the vote counts of the most popular posts in /dogecoin to see that most people are still around. They are just participating less during this lull, and only really see our most popular daily threads.
I am very much looking forward to the next few months, as I think Dogecoin is really reaching an age of maturity. The level of interest in Dogecoin is still insane compared to every other coin, apart from of course Bitcoin. We have survived a pump and dump, survived drama, and proven we are still here, and we are still a powerful force in Crypto.
submitted by Sku to dogecoin [link] [comments]

[ELI5] Extracting Privkeys from QT/Core

We have a constant stream of people coming back after abandoning Dogecoin and the sub in 2014 when the price fell. These people all have old versions of QT and are now basically trying to recover their coins, presumably to cash out and abandon us again. This is causing strain for the network, as far more people are trying to leech blocks than seed them.
The thing is, none of this is necessary. Especially if you're just going to dump coins. With resources such as https://coinb.in/#settings all you need are your private keys, and you can create, sign and broadcast transactions yourself. No client required, let alone one as resource-hungry as QT.

"So, how do I get my keys?"

First of all, lets talk about data management. The overwhelming majority of coins are not lost through theft, especially direct theft of wallets (as distinct from wholesale thefts/scams/implosions like Moolah, GAW, MtGox, Cryptsy, and even our own beloved Dogetipbot). Most coins are lost because people forget about their wallets and do silly things like reformat hard drives, lose passwords and so on.
So, everyone should have a wallet list. Here is a sample bit of HTML that gives you a page with two columns of wallets, one for local wallets you would withdraw coins to, the other the third-party wallets you would deposit coins to third parties through (do note that many services use temporary addresses generated for deposits which expire after 24h or so). A page like this is how I manage my 100+ wallets, and I have copies on my network and hidden online. Such a page makes it easy to at least keep track of all your wallets, for a trivial amount of work to set up.
 
 Sample - Twitter Fr DFXXz9gq3WkgJaHn9tXRChMhFQcwm4Y251 To DByYgzd4ec5Ku9vPag8XqoBfyRpsoj8Xs3 @TipDoge Sample - Backslash Fr DSDyv83VC1QtEnmJ4ATKFn5Sw3iC12VLmX To D9MsxSyJe5Mq7fWFRpC7zQQt1gexHccN4w Backslash To DJ3GL68kw8vh99RvxnEmQKE8A3cWRoEEqo Backslash Faucet Sample - Block.io To DE5QamzWVnxK2HmCS61cUsrn9iwgTArunU Block.io 

"OK, great, so now I have a list of my wallets. Now what?"

Now you're going to need the private keys for each of those wallets. Obviously you're not going to store these in a public place though. So you will need a separate file, which can just be plain text. Copy each of those addresses into it.
Now go ahead and fire up QT. If you haven't synced it in 3 years, its going to take forever, but that doesn't matter. You don't actually need the blockchain for this, so you don't have to wait for it to catch up.
Open up the console which is in the Help menu. Then give the command dumpprivkey with the wallet address you want the key to. Then use the up-arrow key to bring that command back, replace the address with the next one, and keep going until you have them all.
It will look something like this:
 13:05:18 Welcome to the Dogecoin RPC console. Use up and down arrows to navigate history, and Ctrl-L to clear screen. Type help for an overview of available commands. 13:11:06 dumpprivkey D9xDcRthB6XP4vRGqiyKdDfVJ7CWhYuBBi 13:11:06 6KEcssuq1wWUrFVmMF8yDxHuAdQMiRezz53zDxADLmyoXnix7iM 13:12:00 dumpprivkey DUDARNrGHVTFcCgriwRWgDQJPKDuDQr9jg 13:12:00 6JNk6NNFZcr49fbsD2jcTfTxFLjJKq9DHQ5JU8CYeZ2Cz6JdKMY 13:12:25 dumpprivkey DG6xnwCT6BXePaySqU85XocobZmhbJczQH 13:12:25 6JNXFv95Mp9SzehHw9jojjdxHRNPeh77qCsRbaNwJZMp9MKCAu3 
Yes, those are real wallets. But don't bother trying to steal my coins, I just generated them on https://walletgenerator.net/ and they're empty.
That's basically it. All you need to do is add some descriptions of what the wallets are, pretty up the format to your liking, and save copies in multiple, secure places, including printed out.

Remember, if you lose your keys, OR someone else sees them, you lose your coins!

If those were my real wallets above, you could use the keys and spend my coins. So obviously, don't let anyone else, especially annoying little brothers, get their grubby hands on them. But also make sure they can be discovered if anything happens to you. That's why the printed copies... nobody is going to go trolling through your porn or warez collection on the offchance there's something valuable in there. But they will look in your safe or wherever you store other important documents. Just be sure to leave a note as to what they are and how to use them. Remember the woman who came here a couple years ago who had found a USB stick with 110 BTC in a locked wallet.dat on it from her dead husband? I sometimes wonder if she ever got the money. Don't be her. Or him.

"OK, great. Now I have my keys. What now?"

Well, you can spend coins using https://coinb.in/#settings from any wallet you have the keys to. First step is to choose the network. Dogecoin (mainnet) obviously. Then go to Transaction in the +New menu. Enter your address and hit the Load button. It will pull in the first 100 transactions. Now enter the address to pay, and the amount.
Note the Transaction Fee box!
You want this amount to be zero. Depending on whether you're moving coins to another of your wallets to consolidate them (a very good idea.. go read the UTXO ELI5, which you will find a couple pages into https://www.reddit.com/dogecoin/comments/4yts6h/start_here_for_much_wallet_wow/ - Yes, I'm going to make you work for it, cos there's tons of useful stuff there you need to know), or paying someone else, you may want to select which inputs to use.
Once you're happy with the transaction, go ahead and submit it. You will now get a block of text, which is the raw, unsigned transaction. Copy this. Go to the Sign tab. Paste it. Add your private key and Submit to sign it.
After a little bit, you will get a signed transaction. Copy it. Go to the Broadcast tab, paste it and hit Submit.
That's it. It should go into the next block in a minute or two. Yes, even without paying a mining fee. Our network is so lightly loaded that there are no contention issues like the Bitcoin people have to put up with.

"That's it? So why do I need QT?"

You don't. The process above is all that's involved in spending coins. Everything else is window dressing. So there is no need to run QT, or any other client. Oh, and since you can download the site and run it locally (mostly offline), there is no security issue beyond the usual keyloggers/spyware that can compromise anything. And by knowing how to do this, you are much better protected from accidental loss than someone who blindly trusts black boxes they don't understand.
Oh, one final thing... if you really want to help the network by seeding rather than leeching, go ahead and run a full node. Instructions are in that link above. AND you may want to help seed the bootstrap file torrent from a couple of days ago. Just because YOU don't need it, doesn't mean others don't, right?
submitted by Fulvio55 to dogecoin [link] [comments]

Dogecoiner (and mostly lurker) since Day 1 speaking out.

I've seen Dogecoin grow since day 1. I remember mining thinking this is the most hilarious, dumb and weird thing the internet has created in a long long time.
Lurking 4chan for years I saw threads all over /g/ spread around talking about Dogecoin. Day 2 geek.com and geekosystems.com released articles about Dogecoin, this was the first time a cryptocurrency was ever covered second day of release. About day 5 I brought 10 million Dogecoins from CoinedUp.com the first exchange to trade Dogecoin, I thought this coin was going to go viral. The hashrate went from 2MH/s to 500MH/s within just 6 days of release.
The announcement that Doge is going on Cryptsy made shibes filled with excitement, from there I saw the coin skyrocket from about 40 Satoshis to a high of 230. My investment more than quadrupled and I was so happy that not only was my investment increase in value but that a coin I believed in had a market of great people that believed in it too.
Of course after that rise there was a crash. It went down from 230 satoshis all the way to 23. All hope was lost and the community started crying for Jackson Palmer to make some sort of change and save us all. Some blamed dogeflation, others on the fact that this was a meme coin. There was a lot of things to point the finger at and everyone found everything possible to blame.
After reaching a low of 23 satoshis a rocket was strapped onto Doge and it rose from 23 satoshis to 140 over night! We were thrilled and excited! Bitcoiners, Litecoiners, BBQcoiners and Peercoiners alike were amazed by the rebound and quickly shut their mouths about the idiocy of Dogecoin. All the while the community developed a plan for the Sochi Olympics and the Jamaican bobsled team. Excitement was vibrant and we were happily tipping. I donated 1 million Doge to a friend who told me about Dogecoin day 1 and we were all excited.
Now lets just fast forward to where we are now. Despair has hit the market, posts blaming other shibes for dumping the coins, why the community shouldn't keep it's donating culture and why the coin has fallen the way it has. Honestly it's no different from what's happened before...
Fellow shibes there will be another market high. This is just a temporary swing within a market that is growing quickly and people that are enthusiastic about it's future. There's going to be falls but there will also be gains. Think about how to develop Doge's infrastructure through apps, services and marketplaces accepting Doge. Think about where we'll donate to next, think about the wonderful things the Dogecoin community has done and what we'll do for the future.
Guys this isn't the end, it's the beginning. It's still early days and we still haven't seen close to what Doge is capable of. I'm a heavy trader and miner but I'll never be attached to any coin as much as I'm attached to Dogecoin.
I'll continue spreading the word of Doge and I'm going to keep trading to grab as much Doge as I can because I believe that this community has connected crypto and humanity together more than any other coin ever has.
TL;DR: Much history, such moon, very believe.
Hold your head high /dogecoin. We'll go to the moon so long as we keep the enthusiasm we've had since the coin was at its high. I believe in this coin and the community. To the moon!
submitted by doctorpinslove to dogecoin [link] [comments]

Long time crypto trader: BTC and LTC manipulated and so is Dogecoin - 1Ð should be $0.005

Dogecoin's price is very undervalued and I believe it will reach new all time highs within the next few months as long as development and infrastructure in the community and marketplace continues to grow.
Some of you may not have noticed whats going on in /Bitcoin but they have just realised the extent and reasons why the Bitcoin price has been declining in the face of 6 months of positive news: manipulation by some whales
This is not limited to Bitcoin but also Litecoin and what I have been seeing the last 2 months in the Dogecoin price too.
So why is there manipulation? greed, plain and simple! In a downward price manipulation the actors drive the price lower by selling at that high price to create fear and panic which scares others into selling too and then buy the same number or more coins at a much lower price and making a profit and potentially a lot more profit when they price rises again. Thats also the key - their intention is for the price to rise eventually. They are just loading up.
I have always argued to many sceptics that manipulation is the fuel for the Bitcoin price to move up and down and despite that Bitcoin is undervalued according to available supply, its applications and its ability to solve real world problems for the rest of the 3 billion people that are unbanked around the globe.
Now lets look at Dogecoin and its price. Several months back I posted that the price decline of Dogecoin is due to the the 180 million+ a day of new Dogecoin generated was the reason for the price decline and that supply couldn't meet demand. While that is partly true several months ago I have been observing 40-100 million Dogecoins being dumped at a single time 40-60million Dogecoin sell walls at the slightest indication of Dogecoin moving up this is not auto selling. While some auto dumping occurs from multipools which is normal it doesn't explain the uncontrollable yet coordinated timing at which it is being carried out whenever a breakout appears like happening. This is more obvious this past month since the february manipulation. Right now we are currently seeing Dogecoin sell walls placed to prevent a price rise above 100 satoshi, for how long I don't know?
But what I do know is that Dogecoin is undervalued and I believe each Dogecoin should be worth at least $0.002 and upto $0.005. This puts the market cap between $188m - $470m. I based these figures on the metrics which determine the Bitcoin (and to some degree Litecoin) price in its first year of wide scale media attention and the time it takes 70,000 people to use it for goods and services. Bitcoin reached that threshold last year in spring when the total number of Bitcoins generated was around 12million and price rose to around $50 and so many online shops were using it as well as silk road. This put the market cap of Bitcoin at $600m so Dogecoin with its market place, large user base and lots of media attention would make it reasonable to suggest, despite its inflation rate and no cap to be somewhere between $188-470 million. This means 1 doge would be worth $0.002-0.005.
In fact Coingecko.com tells us Dogecoin is the number two crypto-currency by all metrics but it doesn't tell us how big the marketplace is and the fact there are over 200 businesses atleast that accept Doge and numerous ATMs, secure network, growing userbase, reducing supply rate of new Dogecoins generated and 35% of current supply is held in cold storage by most of the top 30 wallets. I should know I have one of them and I don't plan on selling! I'm waiting for Dogecoin to become universal and very liquid to be able to spend my doge to buy, rent and send to anyone, any company any charity that I choose.
With all that said it will just be a matter of time before the floodgates open and the price rises to new all time highs. But don't invest more than you can afford to lose this is still a speculative technology!
Finally, Im very impressed that demand for dogecoin has been so formidable the past several months in the face of such downward manipulation in price! Well done to you all, keep up the good work and enthusiasm and continue to spend, save and tip doge where you can :)
To the moon!
EDIT: As of right now (11.30 GMT) there is a 80 million sell wall on cryptsy
EDIT 2: 70 million now as 10 million was just bought: the manipulators are smelling a breakout hence the 80 million (http://imgur.com/FHV5A3J)
EDIT 3: if you want to see how manipulation can be defeated check this out https://www.youtube.com/watch?v=-uX_bB_4VJk&feature=youtu.be (thanks to Voogru and his post in /bitcoin today)
EDIT 4: while I'm here can you please sign this petition to get doge on the major exchanges if you agree. Thanks!
EDIT 5: More manipulation - 107 million doge sell wall @90 after a 85million sell wall @88 got bought up - this is unprecedented in Dogecoin market history and goes to show how much demand there is. (http://imgur.com/9QG9nOf)
submitted by Justlite to dogecoin [link] [comments]

Shibe Philosophy, Volume 1: Sea of Ðoge

"To act wisely when the time for action comes, to wait patiently when it is time for repose, put man in accord with the tides. Ignorance of this law results in periods of unreasoning enthusiasm on the one hand, and depression on the other." - Helena Petrovna Blavatsky
 . 
How many tractors is it worth?
A topic that gets discussed a lot is the Doge/BTC conversion rate. Whenever there's a move you can't get through a page without at least a few posts about how we've beaten xxx satoshi and all debt everywhere is about to disappear! Or we've dropped a few satoshi and it clearly needs to be interpreted as the arrival of the fourth horseman of the apocalypse.
So let's have a look at what it actually means. That measure of value is how many hundred millionths of one bitcoin that one doge is worth. Ok... so what does the movement of that number mean for dogecoin?
Not much... sorry.
It doesn't necessarily mean dogecoin has gone up or down in value, it could just mean that bitcoin has risen or dropped and dogecoin is worth a little more or less bitcoin. It could mean that people are trying to manipulate the price by buying or selling huge amounts to incite panic. Valuing dogecoin based on a different cryptocurrency that has its own fluctuations, its own successes and failures, is a bad way to view success for doge. Also, knowing how many bitcoin we can buy with it is useless because, if you have dogecoin why would anyone want to buy bitcoin with it??
Take the current rate for example, at the time of writing this dogecoin is sitting around 280-290 satoshi, the highest rate it has achieved steadily. The last time it was near that high in late Jan though, bitcoin was worth about $200 more per coin, therefore 230 satoshi at that time meant doge was about the same value in USD that it is now at 280.
So am I suggesting that we measure it against USD instead? No. USD also rises and falls constantly, as does every currency, as does the value of every thing that can be purchased. What I'm saying is that this is not a thing worth obsessing over. If you looked at charts of USD against other currencies and saw it going down for a few days, would you suddenly panic, take all of your money out of the bank and exchange it for Indian Rupees because someone on the internet told you that the whole US economy is about to disappear? Dogecoin's value is reliant on what you believe it to be. People have faith in fiat currency, so it has a value. You don't need to look at how many bitcoin your doges can buy, all you need to do is believe in the Ð.
 . 
Waves and Meditation
Any time you're worried about the price of doge, do yourself a favour and look at the doge/BTC chart on cryptsy, click on the 1M button above it to see the last month, then in another tab play this.
Then you will see, all the movements are just waves. Sometimes big, small, high or low, but don't let them stress you. They're natural, perfectly normal. There will always be peaks, and always be drops, that's the way it will always be. You can't fight the waves, so why spend all your time focussing on them and stressing about them?
Remember shibes, the tides are caused by the moon. As we get closer to moon, tides rise, with the moon pulling its beloved dogecoins and shibes closer to where they belong. The moon is further away on some days than others, but please don't ever let that make us lose sight of our destination.
 . 
But JakeTheDoge, I had the charts surgically implanted into my retinas so I could watch them 24 hours a day! What will I do now?!
Well, oddly technological shibe, why don't you try spending a little less time obsessing over meaningless temporary changes and instead spend it looking into what new developments are being made in dogecoin! Or finding new things for us to support and telling the dogecoin foundation about them, or thinking of your own way that you can help spread the love to new shibes! That is what dogecoin truly needs from its shibes, and every little bit you can do to help makes you a part of the revolution of internet currency. So tell your friends, petition your favourite websites, put stickers on anything that won't get you arrested, anything!
Do you want to tell your children that you once had thousands or millions of doge but you panic sold them when they were worth a fraction of a cent and that's why dinner will be spam again tonight? Or will you take them shopping for whatever they want, tapping your wrist against the register with your digital doge wallet implanted under your skin (probably... apparently people already have screens on their retinas, subcutaneous doge wallets can't be far off) while telling them for the 400th time that you were there, right at the beginning you were there, and you helped make a revolution.
 . 
Tl;dr Worried about doge/satoshi rates? Stop looking at charts, go lay on a beach and listen to the waves, then your moon ride is gonna be silky smooth. Just relax man, the Ðoge abides.
1 doge = 1 doge = love
Love, JakeTheDoge – moonship technician
 . 
P.S. As I mentioned here I am doing this not for profit. So if anyone is interested and tips in my bloge posts, half of that will go to the dogecoin foundation and the other half will be used for giveaway threads, most likely done once a week if it goes well. Thanks shibes!
submitted by JakeTheDoge to dogecoin [link] [comments]

Dogecoin will be more profitable than bitcoin in the long run. Laugh now. Cry later.

Now, of course by the title of this thread, you would think I was an avid supporter of dogecoin. You would be right. Even though I have a doge bias, if you're still unsure about dogecoins, I think it is worth your time to fancy this. Come, let's delve into the speculate world of speculation where speculators find satisfaction in speculating all day.
Ok, dogecoin daily transaction volume in the past two weeks has equated to over a million GREENBACKS twice. We are talking US dollars here. Those worthless little things that have value because that's what the law says. You gotta lay down the LAW! GREENBACKS! One of them for the loaf of bread. Exclude tax. Suckas!
We might as well even be stating that the daily transaction of dogecoin exceeded 1 million individually packaged loaves*(Shibe edit) of bread. It sounds better anyway.
There is no dogecoin to USD. If you happen to find someone that you trust and do some sort of wire transaction or paypal thing thats great, there are many trustworthy shibes around here. But some of us say we are Shibes and are not Shibes, but rather the Anti-Shibe. You need to be much aware. Very concern. Im a trustworthy Shibe, but I can tell you right now though, I am not coming off my dogecoins for the USD price they are at right now, that would be such not smart.
That million dollars that was traded twice in those 24 hour intervals was done all in btc or ltc, because cryptsy sets the standard right now for daily volume in doge and thats all they deal in. If dogecoin were available in USD, more people would rush to buy dogecoins. As it stands they are still such confuse about getting their hands on even a bitcoin. Now we have to tell them to convert that btc into doge. Its enough to make the masses head explode. They will catch on eventually. It already appears they are. However, USD to doge on exchange sites would dramatically increase the demand for doge which would get him to the moon a lot faster.
Right now doge wants to take off so bad. But, he is still a puppy. Very patience, Shiba Inu. Such reward. So future. Let me explain.
Dogecoins are being mined in crazy numbers right now because that is what the algorithm (correct me if Im wrong) was set to. We have already gotten an entire quarter of coins distributed about the internet right now. You would think this amount of creation would cause an incentive to sell because of the increased supply. You would be right.
However, the demand is so high, even still, despite the fact that there is no exchange site with USD to doge, that doge the miners are selling to create all that sell pressure is not enough to stop its increase. Right now it looks like we are holding very near .0000005 btc/doge
If doge could be traded into USD right now on exchange sites, sell wall would be smashed to pieces. At my university, everyone is talking about dogecoin, but no one knows how to get them. Thats the biggest question I get asked. All these people want to get their hands on doge. This is a lot more than a few million dollars here if you think about all the other major schools all across the country. These are millennials. Millennials are going to be buying into this like crazy because growing up all they experienced was financial ruin all around them which was a direct result of the Federal Reserve Banking system. They do not trust banks, but they do trust math geniuses, apparently (cough, satoshi. cough cough)
Dogecoin is literally blowing up right now and it could be much greater. It will be much greater. Doge so low right now. Such buy. Much reward. When all of the coins are mined and doge can be traded into USD on exchange sites, things will become very interesting. The formula will be set to lift-off on full blasters. Some greedy shibes may lose their shirts because of trying to buy and sell to the moon. But remember Shibes, this is a trip to space. We don't have time to stop and pee. You should have done that on one of the legs of the launch pad. If you try to stop and pee, you will burn yourself on the rocket boosters. WOW
I really dont know where dogecoin will be in a year. I can only speculate that value. Its going to be close to exiting Earth's atmosphere though you can take that to the bank.
Oh, and if you laughed when you read this post because you think doge wont moon, sit and stay, go ahead and cry a little bit now too so you dont have to deal with all the overwhelming amount of feels you are soon to experience.
Such concern. How not such buy? Come wif to moon? None of this is possible by ourselves. This community is so strong and such growth too. WOW almost 30k Shibes in just over a month.
Im going to end on this. You can keep your bitcoin. Ill take my 2.2 million dogecoins over that any day. Edit: The reason I said 2.2 million is because thats what one btc equals right now. Im mining them. I don't have that much. I do have 100k from mining the past week and a half., though :)
submitted by abel1337 to dogecoin [link] [comments]

Of Wolves and Weasels - Day 49 - Such Memories

Hey all! GoodShibe here!
So, yesterday I started putting this thing together and WOW did you come out in droves to help! Thank you so much for sharing your ideas and memories. And thank you kindly to the mods for stickying that post!
In one day we reached 60% completion on a list of top 100 Memories and Achievements of Dogecoin! That's amazing! So many fantastic memories and accomplishments!
Which leads me to share some developments.
The title of this endeavor is now - unless someone comes up with something better:
Such Memories: The First 100 Days of Dogecoin
I'm going to be putting this together as a 100-ish paged commemorative book - for free in PDF, probably with some cost as a fancy, printed book (Sold as close to 'at cost' as I can get it -- slipstream- has recommended selling it at a small profit, with profits going toward charities or Dogecoin Foundation for charities, etc - thoughts?).
Artists, if you've got Dogecoin-themed artwork you want to see in this, please, put forward some links to hi-res CMYK copies and I'll do my best to fit it in.
Also! Let's find the funniest, best Dogecoin-related memes that we have put together so far and include them as well! :D)
We're also going to need a cover.
Any artists out there care to try their hand at designing a cover for this?
We'll put it to the community to vote for the one they like the most, and we'll include the others in the book somewhere :D) If you're an artist who submits to the project, you'll get full credit and promotion for your site inside the book (probably in a credits section at the back).
I also want to hear from the community - think up some interesting stories, maybe what got you into Dogecoin. What your fondest memories of Dogecoin are. These first 100 days have been an exciting rollercoaster of adventure... let's make that we never forget all the fun memories we've had together. If you have personal, fun pictures you'd like to share, fun, personal stories you want to see get into the book, then start working on them now, put them into the comments, keep them on hand!.
Here's the list that I have right now - in no particular order:
MOMENTS/ACHIEVEMENTS:
  1. ummjackson's first 'joke' on Twitter about Dogecoin being 'the next big thing'
  2. The original bitcointalk Dogecoin forum page
  3. Dogewallet Hacked
  4. The first Dogecoin paperwallet design
  5. Save Dogemas is put together by the community, to help out victims of the hack. (News articles?)
  6. 15 Million doge raised by the community to save dogemas
  7. SilentShibe's first tip (not sure when that was)
  8. Ophrahshibe's mass-tippings
  9. The forming of the Dogecoin Foundation
  10. Vault of Satoshi adds the first DOGE->USD/CAD exchange
  11. Dogesled - Helping to fund the Jamaican Bobsled team - NPR article
  12. Shibes actually getting to meet with the Jamaican Bobsled team after funding! (pics?)
  13. Olympics Funding: Shibes raise funds to send Indian Lugers to Sochi in a matter of hours
  14. Strange Donuts - The very first brick-and-mortar food purchase with DOGE!
  15. NYC Dogeparty
  16. Doge 4 kids
  17. Doge is now accepted at experiment.com
  18. DOGE bought pizza for the homeless
  19. DOGE's first fork. Scary! slipstream- has found the exact time and date of our first fork: 2014-01-05 00:09:17 (UTC). That's Day 28
  20. The first time a /dogecoin post reached the top of /all (Thanks 42points for the link!)
  21. The first News article to cover Dogecoin - (http://wwwh.eavy.com/tech/2013/12/dogecoin-what-is-shibe-cryptocurrenc/) on Heavy.com dated Dec 9th, 2013, but not sure if it counts as 'News'. Thoughts?|
  22. The first-ever Of Wolves and Weasels post
  23. the creation of Dogec0in.com - a popular Dogecoin waterbowl/chat room
  24. the Christmas Day Dust Fix
  25. Kabosu's owner started accepting dogecoin for charity
  26. Reddit freaked out because they didn't realize it was an online wallet and thought that tiny withdrawals were indicative of hacking
  27. The first Halvening
  28. Our massive jump up from 25 Satoshis
  29. Dogecoin mentioned in the Australian senate (official Transcript here!)
  30. Payment systems for online shops: Moolah.ch, Coinpayments.net, Dogeapi.com
  31. PoS systems for brick and mortar: dogePoS, moolah (still in beta)
  32. Markets to sell product in dogecoin: shibemart.com, muchmarket.com
  33. Classifieds: suchlist.com
  34. Micro jobs network: dogerr.com
  35. The birth of Dogetipbot v1 - Went Live on 12/15/2013 - First ever dogetip!
  36. Rise of the tipbots: Youtube, Facebook, Twitter, Imgur, etc.
  37. Fork #2
  38. The "inflationary" characteristic of Dogecoin announcement from devs
  39. DogeTEL. The first cryptocurrency phone service!
  40. Fido.pw - sending DOGE via SMS anywhere in the world!
  41. Stuffcoins.com - created by stuffcoins an eBay for Dogecoins
  42. alwaysgeeky, Indie dev sells his game VOX for DOGE.
  43. triverske and friends over at /dogecrafters teach our DOGEs how to play Minecraft! with us - and share our DOGEs on any Minecraft Server
  44. vBulletin Forums Integration! daveaite has created a free plugin for vBulletin, allowing users to directly tip one another in Dogecoin!
  45. 'Universal' DOGE Tippers: DogeTip.co, built by woowdoge and Altcend, created by altcy. Send (password protected) tips - both the sender and the receiver have to sign up.
  46. DogeBucket.com is a Crowd Funding/Crowd Tipping website created by Goldiepurps and their team!
  47. Doge Lodge in Tehran, Iran - created by lincoln_lava - is a homestay if you happen to be in the area (or want to visit) for 10K DOGE per night.
  48. ÐTunes, created by hjras is a great place to sell and buy independent music for Dogecoins. Very cool!
  49. Stat-checkers: DogePulse, created by shibeous and Dogedump, created by cryptogaz
  50. Armstrong Steel - A Steel Building OEM Manufacturer is now accepting Dogecoin! Thanks to SekcRokStallion for their efforts to bring their workplace on board! That's most-definitely a first!
  51. Corinthian Transportation is now allowing you to pay for Limo services with Dogecoin!
  52. Buying homemade bbq/marinade sauce with DOGE - dogesauce.com
  53. @Adult's record-setting DOGE-tip on Twitter
  54. (http://www.reddit.com/dogecoin/comments/1yfnrx/looks_like_kraken_got_doge/) that the exchange [Kraken.com](http://www.kraken.com] is now accepting Dogecoin!
  55. The UniverseProject will be using Dogecoin as the main currency for their game VoidSpace.
  56. The "SnowDoge" Competition! Check it out HERE
  57. MultiDoge - First altcoin light wallet.
  58. Treats.io - The first place to buy giftcards with DOGE
  59. Buygold.io - The first place to buy Reddit Gold with DOGE
Added today:
TOTAL: 100/100
Also: I was thinking we might have a pour-one-out for all the Orphans - a page dedicated to all the blocks we lost along the way... thoughts?
What have I missed?! Let me know in the comments!
It's 8:29AM EST and we're at 53.95% of DOGEs found. Our Global Hashrate is spiking from ~61 to ~98 Gigahashes per second and our Difficulty is down slightly from ~1024 to ~1014.
Lots of fantastic things in store, let's keep this list growing!
As always, I appreciate your support!
GoodShibe
TL;DR: 100/100!!!
submitted by GoodShibe to dogecoin [link] [comments]

New to Cryptocurrency? Please read this, my advice from following the crypto community.

Hey folks --
Incredibly unexpectedly to me, DogeCoin seems to have struck a chord with the world, and now I'm seeing all sorts of new people into cryptocurrency. Welcome! To me, the cryptocurrency scene is utterly fascinating. However, as it is so new and money is involved, it can be quite dangerous. So, I'd like to share some advice that I've attained through being involved in the community for awhile:
This is the main point I want to make, and the rest are just supporting details. There are good people and there are scammers. There are opportunities to grow and learn and contribute cool things, and there are sharks that will take advantage of people and fraud them out of money. There are genuine market dynamics as well alongside massive manipulation, and it's hard to tell which is which without studying it for awhile. There aren't any rules, there can be rampant greed a times, there are always bubbles on bubbles on bubbles (see http://www.pbs.org/wgbh/nova/body/mind-over-money.html -- this basically shows that humans naturally make financial bubbles and how the entire market is ruled by psychology). I have no doubt that cryptocurrency will be studied for years, academically, as "what happens in a free market." Fascinating stuff. Just know what you're getting yourself into!
First of all, buying cryptocurrency is not really investing, it's much closer to gambling. I have never recommended purchase of any crypto with dollars to anyone, but I always recommend mining, because it's quite inexpensive and makes it easier to treat these coins as magic funny money. Pretty much all cryptocurrency "value" is just the amount of bitcoin people are trading it for, and bitcoin is an extremely volatile asset that can and has dropped in value 50%+ overnight, and that isn't any different with DogeCoin.
This is why I want to keep the DogeCoin community lighthearted. It's never fun to lose money, but everyone needs to understand that, unless they are just mining, any money they put into it can be lost. Not trying to scare everyone away! Just be careful.
Even though I wouldn't recommend purchasing over mining, if you insist, I would always recommend going through http://coinbase.com, purchasing bitcoin, and trading it for dogecoin at market value on one of the major exchanges (bter, vircurex, coinedup, imo. Cryptsy, as you have seen, is a bit of a toilet) as opposed to purchasing anything on ebay/paypal, even though it is faster. First of all, people mark up the price on ebay, because they are targetting newbies. Second of all, paypal will not honor any cryptocurrency agreement, so if the buyer files a dispute, the seller won't get the money - another reason for markup. This goes for selling as well, for the same reasons.
The vast majority of people are honest, but not everyone, so be careful and diligent. Don't use the same password twice, set up 2-factor authentication wherever you can. Forums often get hacked and steal passwords, and sometimes site operators aren't safe and have your passwords hidden in plaintext.
Your wallet.dat file holds are your coins. If you lose that, you are toast. If someone copies that file from you, they can steal all your coins. You want to encrypt it and use a very strong password, and back it up - on a thumb drive, etc. Or export the private key and write it down somewhere (google paper wallet for how to accomplish this)
Note that there is a bug right now for some windows platforms when encrypting the wallet. I'll fix it soon..ish... >_<
When you're using an exchange, pool, or online wallet, keep in mind that at any point they can go down or be hacked. It's best to keep the payout threshold low in pools and only keep money in online exchanges you find trustworthy with 2-factor authentication. Considering its newness, DogeCoin does not yet have long running trusted services, so of course not saying dogewallet (or any other wallet service that will come about for dogecoin) is untrustworthy, but that it is a risk to keep too much coin in any type of online wallet.
(Note - dogewallet turned out to be a unsafe/compromised/maybe a scam)
If you're mining Dogecoin with a graphics card, you can also mine with your CPU at the same time (though generally you'll need to use MAX_CPU_THREADS - 1 to avoid issues). There are some coins that are essentially CPU only -- the most interesting of these, I find, are Primecoin and Protoshares. The easiest way to do this is to go through http://www.ypool.net and follow the instructions from that site. Both these coins are well established and have interesting algorithms. Mining two coins at once -- much profit!
This is my last piece of advice to all. This is the tone I hope to always keep for DogeCoin. The cryptocommunity is full of elitism and greed, and it makes sense in from a psychological standpoint. People get very invested and want to thwart away anything that entrenches on their territory. I hope that the DogeCoin community will never get that way. I want us to understand how that happens and resist it. Even though 5 new coins just came out that essentially cut and paste DogeCoin, we don't need to trash their coins and feign being superior to everyone - there will be many more popular coins that come out in the future. And really, I mean, c'mon. I slapped a dog on a coin :) Let's remember that and continue to do what I am seeing right now, which is incredibly welcoming, generous, and fun.
Thanks folks. Enjoy your holidays :)
submitted by BillyM2k to dogecoin [link] [comments]

Of Wolves and Weasels - Day 5 - A Taste of What's To Come

Hey all, GoodShibe here!
All week we've been talking about multipools and strip-miners, about how DOGE has been being artificially deflated by many factors -- Bitcoin rising, strip-miners selling off en masse, continuously, without regard for the price.
Well, today we're in an interesting situation - while multipool is still mining DOGE, it seems like yesterday's threat (real or not) of a 51% attack on Bitcoin has put some fear into the BTC crowd and chased some people into DOGE. I've also heard through the grapevine that many other pools have switched over to Coinye in the word that Cryptsy might be putting it up for exchange soon. I've just checked and I don't see it up there, but the rumor is apparently enough to get lots of people off of DOGE and preparing for what will surely be a massive pump and dump.
Those interested in seeing the DOGEpocalypse I'm trying to prevent here, keep an eye on Coinye (COYE) when it finally hits an exchange brave enough to stare down Kanye's lawyers.
Finally: KEEP MINING. Hit the Global Hashrate with everything you have. I don't care if you're CPU-mining or GPU or Cloud or heck, even Android at this point. Just keep pushing the difficulty up and making sure that WE, the community, are collecting all the DOGE we can before the block reward halving on Feb 14th.
Thanks all for your continued support!
GoodShibe
Day 1: Locking out the Wolves and the Weasels: Protecting Doge from opportunists
Day 2: Of Wolves and Weasels: Protecting Our Doges - Day 2
Day 3: Of Wolves and Weasels: Day 3 - Community Input, please!
Day 4: Of Wolves and Weasels: Day 4 - Keep Mining!
submitted by GoodShibe to dogecoin [link] [comments]

Why I believe dogecoin value will rise very soon, very high

I've also been looking at the prices lately, we as a community work so hard to make dogecoin usable and fun for people all around the world. I don't believe any coin did it like we did, and I'm very happy to be here.
But as you all know and have been worried about the price, low price is a problem for us, mainly because I will reduce hash rates and the value of the money we have here can buy us less value when we make campaigns and happy things like doge4nascar, if you remember the 67.5 millions we arranged was worth at the end something like 50 million because the price got down, only because Moolah fix the price for a buyer we made it :)
Ok so now the info why I think dogecoin will rise. prices are detarmined by demand, and we have less demand then bitcoin and litecoin because we are not traded on the major exchanges out there.
for example when I look at litecoin today I see it has $ 21Mil from BTC-E and almost 1.5mil from BTC China, and more from OKcoin and other Chinese exchanges that are not listed here: http://coinmarketcap.com/volume.html
all those exchanges are the main volume of crypto currencies today, Cryptsy and BTER that we know and others doesn't really have much volume with them, as you can see in the list.
Dogecoin has an avg of $1mil a day and it is very good volume if you take in calc that it is only traded on the small exchanges, and in spite of that he is the main trader in the exchanges he is traded at! yes read it again he is the main trader in the exchanges he is traded at!
now that China will probably not ban bitcoin, and we all heard rumors that BTC china and other china main players will accept dogecoin, when this happens out daily volume will go from $1min to $7mil a day, and if you take care of the charts when dogecoin volume was high the price traded for BTC was 150-200 satoshi. So I think we have a happy future for all of us. we just need to wait or actively convince the big exchanges to accept dogecoin and the rest is history.
you will come here to read this in the future when we get there. Moon.
submitted by 2zmoon to dogecoin [link] [comments]

I want to share you my daily routine, AKA How I make $400 a month

I was thinking, since these "Daily Routine" posts have been so popular before, so that is why I am doing this, trying to tell you how I work my days.
Almost everyday at 4 p.m. I do some stretching, take a cup of coffee and inhale the air surrounding me. Then I walk up to my computer. Now, if anyone is wondering that how am I able to multitask things so perfectly, I want to already inform that this is the setup is use to multitask and work as effectively as possible
So, shall we take a look at my day?
The first thing on my list is to complete my ad clicks on ProBux/ Non-Ref. I will click on the ads on my left monitor and go to other sites at the same time, but let me explain why ProBux quickly before going further on with my day.
First of all, ProBux gives one of the highest amount of money a PTC site can give you. If I click only on the four orange advertisements I get $.04 and if I click on all I get $.06. In NeoBux after clicking through all the advertisements you get about $.01.
The rented referrals on ProBux aren't bots, that's for sure. Some of my referrals click 8 ads daily while all of my NeoBux referrals clicked on barely two.
The amount of money per month I get is the amount I withdraw AT THE MOMENT. I have potential to make more but you got to realize that I only have about 45 rented referrals at the moment.
Per Month: $2
While I run ProBux on the other monitor, I will head to CashCrate/ Non-Ref. In here I will put a goal to make at least $4. I know this isn't much, but this is mainly due to the lack of offers Europe has. For countries like UK, US and CAN, you can get up to $15 or even $20 in a day if you happen to get good offers.
The offers I am trying to look for are simple offers and trials I can complete in less than 10 minutes. This way I won't use ridiculous amount of money in a day, but I can make a decent amount of money. CashCrate must be my favorite site I use, since it is the most profitable GPT site I know.
Per Month: $120
The next page I will take a look at is Get-Paid/ Non-Ref. The site seems to have good surveys/offers at times and they have a much larger amount of offers for Europeans. However, I still prefer to use CashCrate more, but on the best days I can get up an easy 1000 coins. That is comparable to $1 if you redeem the money straight to your PayPal account, but since I usually redeem my prices as PaySafeCards, 1000 coins is worth $2.5 if I redeem my coins for PaySafeCards.
I make usually around 5000 to 50000 coins per month, depending on the offers they have and the amount of work I am willing to put in to CrowdFlower tasks f.e.
Per Month: $10-$50
Then I go straight to oDesk. In here, I try to quickly look through the new jobs. This usually takes around 5 minutes, but if I find a job it will take few extra minutes to make an application to the job.
This site is a huge variable. Some months I make $10, some months I make $200, but this is totally depending on what jobs I am able to find that make me interested.
But, if I count the active, long term contracts I have at the moment, which take about 10 hours of my time weekly to get the jobs done, I am looking around $100 in steady income monthly.
Per Month: $100
Then I will go and look if I have any new orders on Fiverr. This is a site that I use to do easy things for me like SEO reports and gigs like that. They bring me $4 per gig, and I usually get around 10 gigs per month.
I really like this site. Simple platform and finally a site where I don't need to contact anyone in order to get new contracts done, but they contact me.
Per Month: $40-$50
Two more to go before my working is over! The second last page I look for is Cryptsy/ Non-Ref. Now, this might at first sound a little dumb. Why am I going to this site again?
The reason is that I will try to look for trending CryptoCurrencies that have a chance of succeeding. If I find one, I will do some research over it and then buy some. Sometimes I fail to succeed one, sometimes I hit the jackpot! When the currency starts to grow near its potential high point I will sell it for Doges or for BitCoins.
This site is not a steady income for me. It is just a site where I happen to sometimes find some interesting, trending currencies.
A tip from a CryptoCurrency veteran: If you see a currency you're interested in, never ever put more money in than you're willing to lose. CryptoCurrencies can blow up in one night like DogeCoin did this week or it can drop half its value over night, like Bitcoin did last year.
The usual amount of money per month: $50
Last but not the least, I go to Hits4Pay/ Non-Ref. This site I use mainly because I want something easy and fast to do while I open up my NetFlix. This site doesn't pay millions, but it is so easy and fast to use that I lose nothing by using it.
Per Month: $1
This all takes me about one hour to complete. This is due to the two screens, fast action and a routine that I have memorized so well I could do it any time, any day in any condition (except when it is storming, I hate storms).
Hope you enjoyed my daily routine. Have any more questions about the sites or my routine? PM me or comment down below.
submitted by VaivainenSiili to beermoney [link] [comments]

Of Wolves and Weasels - Day 736 - The (Unneccessary) Fall of Cryptsy

Hey all, GoodShibe here!
So, wow, some really interesting and, well, disturbing news about Cryptsy is in the wind.
When I say 'disturbing' by the way, I'm talking about the completely casual admission from Cryptsy themselves that 'oh, yeah, by the way, about a year and a half ago, we lost a crap-ton of your money and elected to not say anything'.
It's a wonderfully technical recounting of events.
Cold and clinical and utterly devoid of remorse.
Man, it's days like this that I really miss Vault of Satoshi.
Here's the hard thing: instinctively, I understand the thought process... can even empathize, to an extent. You're someone who's worked hard to build a business and a brand - to become a pillar of the Cryptosphere. Maybe you've even done everything right up until this point... and then some little piss-ant sneaks behind the curtain and tears everything down around you.
All of a sudden, you're the next Mount Gox.
Destined to go down in history as a ridiculed footnote of Crypto-coin lore.
Yeah, no wonder you "didn't want to cause a panic".
Because, as anyone knows in crypto -- and anyone who runs an exchange is going to be hyper-aware of this -- trust is the only currency that matters. And after Mt. Gox? Trust is a very fragile commodity.
What do you do when you've just had ~20,000 BTC stolen from your coffers?
The Ethical thing would be to explain everything there and then. Publicly build a plan of action, explain and share the process of the investigation. Share the known location of the coins -- hell, in moments, at the time, you probably could have rallied SEVERAL crypto-communities to your side; had some of the very best minds across the cryptosphere working to help you.
Because here's another simple truth: NO ONE wanted another Mt. Gox.
Trust would have been damaged, sure, but I suspect it could have been recovered had you, in time, identified what happened and shown everyone how sophisticated the attack actually was. That it wasn't necessarily you asleep at the wheel. If you had come forward and said "hey, we've got the reserves, we'll take this on the chin as a cost of being part of this grand experiment with you".
Because, yes, so much of all of this is one great, grand experiment and by showing humility and working to advance all of our knowledge of how to protect ourselves, maybe... maybe it wouldn't have been so bad. It would've stung, but you, with work, could've recovered.
If it had actually been about your customers, the people who'd put their trust in you.
But "maybe* is a big word when your legacy is on the line, your years of hard work. You're the victim here, right?
So... if you happen to look at your balance sheet and see that, yeah, you can just... make it go away, pretend that it never happened... why bother, right?
Why even risk it at all?
Except it means that for, who knows how long, you're riding on a very capricious edge.
Owner of an exchange for not just one but hundreds of extremely volatile cryptocurrencies.
Is that why you went from friendly, accessible 'Big Vern' who seemed like he was everywhere to the quiet, recluse that we've seen lately?
The problem with having ones ethics thrown into question is that all sorts of things, things that only existed as rumors and backroom talk end up taking on a whole new life. Was Cryptsy aware of the market manipulation that was going on? Was it... sanctioned? Maybe, in knowing which way something was going to move... well, would that help to fill a 20,000 BTC hole? I'm not saying that anything actually happened, but one certainly begins to wonder what steps one might take.
Because no one 'just accepts' a 20,000 BTC loss without trying to find a way to get it back.
The most frustrating thing about all of this is this:
The fact that Cryptsy lasted this long despite a supposed "run on the bank", despite the many supposed "smear" campaigns against you is a testament to how much the various communities wanted you to exist.
There are so many other, better ways this could have played out.
We need a trusted place to do business, now more than ever.
Instead -- and the Dogecoin Community has some scarily first-hand knowledge of this with the fall of Moolah -- we get to watch as the wheels so very slowly start to fall off. As, one by one, the complaints begin to bubble up from the cracks until the whole thing is torn apart from fear and frustration and anger.
So... now you've got a lawsuit against you. A class action lawsuit. 84,000,000 DOGE is, yeah, people may laugh at our funny, silly little DOGE, but that's no amount of chump change.
Now people are pissed.
Because no one wanted another Mt. Gox.
Yet, when given the option, when faced with the choice... that's exactly the path you chose to walk.
It's 8:18AM EST and our Global Hashrate is holding at ~1260 Gigahashes per Second and our Difficulty is up from ~15082 to ~16757.
As always, I appreciate your support!
GoodShibe
submitted by GoodShibe to dogecoin [link] [comments]

How I am trading into more Doge through exchanges

Credit given where credit is due, this thread was my motivation for writing this. Also I didn't want to hijack someone else's thread via their comments.
I have been trading in Doge for a little while now, which is a relative term considering Doge is a month old on Jan 6, 2013.
I have made HUGE mistakes (like accidentally buying where I was selling, because I clicked the wrong thing). But, I have also gotten REALLY lucky with some amazing trades.
Disclaimer:
I am not working fowith Cryptsy. I am just a user and most of my exchange experience has happened there. This is also not a discussion of WHICH exchange to use, use the one you like the most. This is however, a discussion of how exchanging/trading works. Yes, Crypsty gets slow. Yes, I have had 3 hour lags getting Doge in or out of Cryptsy. Yes, I have had money "hung" up on a cancel order. It happens. This is a brand new industry as far as coin-trading goes and there is a ton of computation that is going on behind the scenes. I am also a little more forgiving than others. I also know that some people have had trouble with their support, but I have not.
My rules of trading
First Rule of trading: This is NOT a get rich quick scheme
You have to pay attention, you have to watch the market, you have to spend a lot of time on this and be patient. If you walk away with Doge in play, you'll get screwed. If you jump in at the wrong time with out doing the math, you'll get screwed.
Second Rule of trading: Don't gamble what you cannot afford to lose!
This is super important, because while I was trading someone came in above or below me and totally hosed me a couple times. I have learned to trade in smaller amounts. This means less benefit in the end, but less risk as well.
I know Cryptsy isn't well loved here, but I have used it as well as 3 other exchanges and I like it the best. The reason I stick there is that you can see "nearly live" what is going on. I say nearly, because there are lags. However, most of the perceived lag tends to be trades that are smaller and that auto-trade away before they are worth posting to the buy/sell orders list.
Get a feel for the room before you jump in whole-Doge. Buy and sell small amounts, like the minimums of the exchange, before you do anything drastic. This IS gambling. It WILL bite you in the ass. Trust me, I have had some big losses already.
Third Rule of trading: Buy low, sell high
Always, always, always.
Fourth Rule of trading: Pay attention to fees
Cryptsy charges .3% for selling and .2% for buying. This is a total of 0.005 or .5%. This factors into EVERY trade I make. Let's go with some numbers, see the screenshot here for examples. These are the TIX/LTC numbers for right now, but I will use Doge/LTC as the example.
If you are selling Doge at 222, then to get more Doge than you sold, you have to buy at LOWER than 222/1.005=220. I use 222/1.001=219 to make sure I am always making more than the fees on every trade. Right now, since the highest buyer on the sheets is at 217, it is possible to make some extra Doge if you can buy at 217 as well.
Fifth Rule of trading: Pay attention to the direction of the market
If the market is going up, you need to be careful about selling because the buyers are going to buy higher in 20 seconds than they are right now.
If the market is going down, you need to be careful about buying, because the sellers are going to sell cheaper in 20 seconds than they are right now.
Sixth Rule of trading: Patience
This is a complete reiteration of Rule #1. You MUST BE PATIENT. If you are not, then you will lose Doge. The exchanges are often not immediate, even when there are obvious trades going on. This is because they are doing a ton of computation that you can guess at (because you can see what's trading) and computation of what you can't see, like that guy who buys 10 Doge at 300 when the price is 222. Like I said before, not all the buy/sell orders make it to the list, because not all of them are significant enough to warrant updating your view.
Think about it this way, if Cryptsy moves 12MM Doge in 10 minutes and less than 20% of those are "in the middle trades" between the highest buy and lowest sell, that means that 240,000 Doge moved in hte middle. Each of htese could be anywhere from 100-100,000 Doge at a time. It would take a ton of refreshes to your view, which is servecomputationally heavy as well as heavy in your browser
Seventh Rule of trading: Don't be afraid to cut bait. It's also ok to not cast at all.
If things are going your way, because the numbers aren't working or someone just put in a HUGE buy order above yours, it's ok to back away for a while. It's also ok to not jump in at all. You don't have to trade right now.
If the numbers aren't right, don't trade.
If the Doge are moving too fast, don't trade.
If you're not 100% comfortable, don't trade.
Definitions!!
Arbitrage: trading one currency into another and then into another in order to have more of the original currency. i.e. Doge->BTC->LTC->Doge via the Doge/BTC, then LTC/BTC, then Doge/LTC markets
"Buy low, sell high": A saying that comes to mean that if you sell for more than you buy, you profit. Also, that if you buy for less than you sell, you profit. This is the basis for trading on an exchange.
Buy Order: "I want to buy of Doge at of Doge/BTC" example, I want to buy 10 Doge at .00000025 BTC.
Cryptsy: Is an exchange, there are others in the right sidebar of this page. I use Cryptsy as an example, because that's where I exchange my coins
Doge: Such wow.
Doge/BTC: the value of one Doge in BTC. At the time of writing this, it was .00000025 BTC for one Doge
Dumping: The act of getting a currency and releasing at whatever price you can get for it right this second. Many auto-exchange mining pools will dump mined Doge (or any coin) for BTC as soon as a certain limit you define in your mining account is reached. Much of this is done for profit and based on the belief that BTC is the end-all-be-all, much like USD has been known for a while in the paper-money world.
An Exchange (noun): A place you can put your currency and trade it for another currency.
Exchange (verb): to trade one thing for another, in this case Doge for BTC or Doge for LTC
Fees: There will always be fees, this is how exchanges make money. The total fee for one round of buying and then selling or vice-versa on Cryptsy is .5% or a multiplication factor of .005. Fees for buying on Cryptsy are .002 (.2%) and selling are .003 (.3%).
Mining: using your computers processor or graphics card to solve big ass math equations to earn a crypto coin.
Orders: Requests to buy or sell something in the exchange
Pool: A bunch of people working together to mine at the same time
Sell Order: "I want to sell of Doge at of Doge/BTC" example, I want to sell 10 Doge at .00000025 BTC.
"To the moon": is a play on the phrase "shoot the moon". And a goal that seems insurmountable, but is totally possible since it's been done before (aka Bitcoin). Also, where Doge is going.
Tools I keep nearby:
  • A google spreadsheet to keep track of where I am and whether I am actually gaining ground or not. Sometimes, with lots of quick trades, it's worth stopping to count everything up. This spreadsheet will take into account the current trade values of Doge/BTC, Doge/LTC, and LTC/BTC. While I calculate USD, I am more interested in the total number of Doge that I have.
  • When I sit in one exchange for a while, like Doge/LTC, I will keep a second tab in my spreadsheet with calculated list of values for 1022, 1023, 1024, etc. (this is the current trading values with the decimal and zeros removed). The first column is the "number I am trading at". The second column is, "If you sell at column 1, you must buy below this number". The third column is, "If you bought at the rate in column one, you must sell above this number". Column one is auto-incremented by 1, (=A1 + 1, then fill down). Column 2 is column 1 divided by 1.01 (=A1/1.01, then fill down). Column 3 is column 1 times 1.01 (=A1 * 1.01). Screenshot: http://imgur.com/Up7r2ra
  • A calculator. Sometimes it feels good and can be faster to calculate /1.01 there, than it is in a spreadsheet.
  • Caffeine ;)
I hope this helps! Also, please tell me what you think and I'll update with anything I didn't add above.
If something is wrong or you look at it differently, let me know!!
Edits:
  • added definitions, alphabetized them.
  • cleaned up some information that was written quickly and not making sense to some users.
submitted by mbernier to dogecoin [link] [comments]

What happened to 'Cryptsy'...

SO I bought some Bitcoin around the time Dogecoin came out, end of 2013/start of 2014... And now I see Bitcoin is huge I'm trying to trace my stuff. Turned out I had currency stored on 'Cryptsy' and now I see it is shut down or something? So um, please can someone give me info and are all my cryptocurrencies gone?
submitted by PleaseBuyMyGoods to CryptoCurrency [link] [comments]

Coming back from a break, lost all my doge? Anything I can do?

I recently saw that the price of doge hit $0.01 (yay), and realizing I had 44,000 coins stored somewhere I decided to go look for them... turns out the two sites I may have used (dogecoinvault and cryptsy) were both shut down and I dont think I have any way of getting my coins as the date to submit a claim has passed.
I have a couple of bitcoin addresses from coinbase that I sent btc to in order to receive the doge initially, but I don't know how to use any of this information to maybe retrieve my coins. I had dogecoin core previously but I don't remember making a backup (the harddrive is gone anyways).
Is there anything I can do? I don't think so but I'm just asking just in case. Sucks to go back and look at a 2 year investment thats finally worth something and find out its gone because the sites you used stole your money...
Edit: My coins were stored on cryptsy. It's looking like I'm out of luck but if someone knows anything I can do I'd appreciate it.
submitted by Xavon to dogecoin [link] [comments]

[Repost] How to accept Dogecoin with your business, and why. A few pointers.

The original version of this post (see here), cannot be replied to anymore because it has been automatically archived. I am reposting it so I can keep updating and receiving questions on it. Enjoy :)
You are a business owner and sell goods or services. You heard about Dogecoin. You wonder how you can use it in your business. This thread is for you.
If you have no idea what Dogecoin is, read up on it here (click). In short, it is a digital currency that is perfect for everyday use. Read on if you want to know why it would be good for your enterprise.
Why should I accept payments in Dogecoin? 
Dogecoin offers you:
Dogecoin can be exchanged to national currencies. You can do this easily by yourself or use the automatic conversion offered by some payment processors (all is explained further down). You can also just keep your Dogecoin and spend it or offer it to your employees! :)
Dogecoin is fun and it gets ever more useful the more people like you use and accept it. There are other merchants who have gone this path before you - not least Amazon's streaming service Twitch.tv. You can read interviews in this magazine and on this blog. You can also talk with other merchants in /dogevendors, check out these testimonials ([1, 2], 3), search this subreddit and post any questions you have right here!
I want to accept donations. What are my options? 
Just download the client and put up the wallet address up on your page with donation info. Done! That's it! If you want something snazzy, check out this widget.
If you need to track who sent you how much money (for goodies and that), you could ask that donators tell you that they're sending you a very specific amount of coins (e.g. 100.424242), and match it to their name. However, this can be abused as your transaction history is public. If you're actually selling stuff, check out the next section instead.
I sell stuff online. What are my options? 
You have a lot! It boils down to one of these:
The last option can be interesting if you don't have your own web store, are selling digital goods and/or are just selling on as a side business. If your business is your main income, handling payment yourself is probably better.
1) Manually processing transactions
All you need for this is a Dogecoin wallet. You simply generate a payment address for each of your customers, send it to them and confirm that your coins arrived at the address. This is super fast to set up and there is absolutely no commitment.
If you just want to try it out before investing a lot of effort, just set up a wallet (either with the Dogecoin desktop client or an online wallet (listed under Browser "here") and let your customers know that they can now pay with Dogecoin. You can use some of these buttons if you wish( 1 2 3 4 5) and browse this asset repository of useful artwork. The graphical interface is still being developed, but you can browse the files and find license information already :)
2) Automatically processing transactions
Check out the section on APIs and payment processors further down!
3) Selling stuff through a 3rd-party site
There are a number of sites that function a lot like eBay, Etsy and Xmart. You enter your products and they handle the payment and web store stuff. This is most convenient if you have digital goods to sell (music, books...) and want to send them out automatically.
If you are an Etsy user who wants to accept Dogecoin, click here.
I sell from a physical store or location. What are my options? 
All you need is an internet connection in your store and a web-capable device, such as a mobile phone, cheap tablet or a nearby PC. On-site, your customers can send you coins using their phone, or you can sell coupons for your goods online in advance.
DogePos is a point-of-sales app that is open source and Koupah announced that they will accept Doge as well. You can use or apply for all of these tools right now! Either way, all you need is a way to 1) convert a USD price into Doge, and to 2) check that the coins have arrived in your wallet.
To check your wallet balance and Doge prices, you can use the app MyDOGE oniPhones and iPads, and this app on Android devices. This is one of many useful price converter websites you can bookmark. Checking your balance on the PC can be done with the wallet client.
If you want to sell your goods or coupons for them online, it might be easiest use a ready-made stores capable of digital distribution. Check point "3)" in the above section for some options.
Dogecoin payment processors, APIs, checkouts 
Currently, the established platforms accepting Dogecoin seem to be these:
I'm trying a tentative summary here to save you some research, but I'd appreciate comments a lot. None of the three have setup or monthly fees (except some optional subscriptions).
GoCoin:
Snapcard:
Coinpayments:
You can probably find people who have used one of these in this thread. This guy volunteered his code for automatic currency conversion and his help setting up the plugin for OpenCart, for example!
If you are tech-inclined, you could run your own payment server with dogecoind and an API like this. This is not yet ready for laypeople though, so don't do that unless you want to get messy.
Exchanging Doge to USD/EUGBP/other national currencies 
If you don't have your payment processor do it for you, at some point you will want to get your Doge converted to your currency of choice, which you should do at an exchange. Keep in mind that you will have to get registered and verified at the exchange, which can take up to a week.
Transfers to and from national currency can take a few days, but trading and transferring digital currencies is very fast and usually near-instant. The following exchanges let you trade your Doge for national currency directly (last updated Sep 17):
If your currency is not listed above, you can either sell your Doge here, or exchange them to Bitcoin and then sell those. You can sell Doge for BTC on all of the exchanges mentioned above, or choose one from this list. To sell BTC for national currency, you can also go to Justcoin or LocalBitcoins. There are many similar sites - just pick the one you like best!
Things get developed incredibly fast and Dogecoin is not even a year old. This will only get easier, so keep checking back! Justcoin is looking to trade Dogecoin to national currency, and others are sure to follow.
Alright! How do I promote my business now that I accept Dogecoin? 
Note that there's a collection of Dogecoin artwork and assets for you to use in this repository, complete with license information so you can design your promotions and website with it.
1) Submit your business to these directories:
2) If you are a brick-and-mortar store, mark your business on these maps [1, 2]. Post if you have problems!
3) Make a promotion post in one of these subreddits:
You will get views, especially if you offer an interesting product or a Doge-related promotion. Hint: the best promotion is to offer a few % off for all Dogecoin purchases. Also post and comment to this just to discuss your plans and ask your questions. Come talk to us here and in /dogevendors, we are a fun community :)
I'm editing and updating this post regularly. The last big edit to this text was in Apr 2015 (new payment processors).
submitted by animeturtles to dogecoin [link] [comments]

Overview of major risks of buying Nyancoins

THIS DOCUMENT IS NO LONGER MAINTAINED BUT ONLY PRESENTED FOR HISTORICAL REFERENCE.
Version 3 is current as of June 2017.
This is based on the original version, which is now archived and outdated, thus this second version.
I'm going to start with the previous version, minus the edit notes, and then add updates on top of that.
Please comment on any risks which are not mentioned here or additional aspects of risks here you think should be further emphasized or any other possible disclosure you think needs to be made.
I'm removing the fork bug vulnerability note based on the new release by vmp32k and stellarseahorses, as well as the "no core dev" warning.
I'm adding a note about vulnerability to 51% attacks which should really have been in there before but I never really thought about it much (didn't seem too relevant since we're not really worth attacking, but still should be disclosed).
Executive summary
Nyancoins have weak demand, are traded actively on only one exchange, have inconsistent blocks, are very vulnerable to 51% attacks, have the potential for serious bugs, an uncertain legal situation, concentrated ownership, depend upon the Internet, may be addictive, and could make you wealthy, which has been alleged to lead to more problems.
Introduction: This is my best attempt to collect every major risk factor from buying Nyancoins, although I can offer no warranty of fitness for this information for any purposes. I believe in honesty and forthrightness. Having this available and obvious is a simple matter of basic decency. Much, hopefully all, of this information has been discussed previously in /nyancoins, but this document in particular is about being up-to-date and central. This page will be updated clearly as appropriate if situations change on a best-effort basis (which may mean updates do not happen for months at times, unfortunately; please ping for faster updates).
If you believe that I am missing something, please note any other major risks you see in the comments.
Edit June 2017: Now that this post has been archived, it is overdue for a repost to allow commenting again. In the meantime, if there is something you would like to add, please feel free to post it or send a message to me, coinaday.
Demand: So far, the majority of the buying pressure has been myself. I base this statement on my recollection of the trading history so far this year (all of my trades in NYAN) and the fact that I have acquired more than 100 million coins, somewhere around 35% of the coins (latest hodling report, so far, as well as my observations that I have usually had the leading major bid, and usually the leading bid regardless of size.
This is an unsustainable situation in the long-run. For my own sake, and in particular right now, I cannot afford to keep powering nyan's rise financially alone.
Update: there has been a growth in demand from others, in particular as I became unable to add BTC for bids from my own financial pressures. However, the price fell down to ~10 satoshi during that period.
Update 2 (Oct 2016): The price is around 8 satoshi now. I'm often still one of the leading bids, but anecdotally, for instance, today (Oct 7) when I checked on the market there were bids at 8 satoshi and 7 satoshi even though mine had been wiped out. Still, despite some notable buying pressure from others, I consider myself the majority of the buying demand generally, so this warning I think is still relevant.
Exchanges:
Nyancoins are now listed on Cryptopia . This adds a pool and a market. Although Cryptopia has relatively small volume, I consider it trustworthy and expect we can rely upon them as our core market for the foreseeable future.
Cryptopia is now the only exchange for Nyancoins with significant volume, given Cryptsy has now finally clearly ceased to be a viable exchange. If Cryptopia were to fail somehow, it is likely that this would have significant consequences for Nyancoins. However, there are decentralized exchange technologies, notably CATE, which NYAN2 (my term for the current release, otherwise known as v1.3) should be able to support. On-Reddit exchanges are also possible with tipbots, but require trust as they are not atomic. It should be possible to build an "exchangebot" similarly, although I'm not currently aware of one, but my concept would still have the bot as a trusted central party.
Atomic cross-chain transactions seem to me like a very promising core technology ultimately for building exchanges which can be more proveably secure. They could also allow exchanges to share a common listing protocol as well without having to trust the other exchanges (at least, beyond the core protocol development and maintenance; tanstaafl).
There is also a tiny market available on Novaexchange now. I am intending to try this out eventually, but as of this writing (Oct 7 2016), its volume is insignificant. So it may be a possible backup in case Cryptopia went down, but there would still be major disruption in our market if that happened.
Inconsistent blocks: I haven't done a quantitative analysis of this, but from the beginning of when I started actually using the nyan blockchain, I sometimes noticed that it would be a couple of hours until a transaction went through. When the average block rate is supposed to be one minute, this is pretty crazy. And now we seem to have seen some that are even worse: I had recalled maybe 3-5 hours; these last couple have been more like 12-18 hours. This is obviously a serious deficit. I expect that as we revive we will attract dedicated miners which should prevent this, but it's troubling that it almost seems like so far getting bigger has attracted stronger hit-and-runs rather than attracting long-term miners.
If this is not a temporary anomaly and were to continue to get worse, it could really cripple Nyancoins functionally. In a well-functioning system, I would think that a gap longer than an hour between the blocks shouldn't happen.
Update (Oct 2016): This continues to be a significant issue. A workaround is to use large transaction fees (I've set my client to 337 NYAN) which is enough to cause pools to generally solve a block even if the chain were otherwise stuck. A solution should come in NYAN3, which should hopefully release sometime in 2017.
51% attack: Because of the generally quite low hashing power on NYAN, it is highly vulnerable to a 51% attack. Either a leading pool or a new one could choose to do a denial-of-service attack, whether for extortion, lulz, or some other reason (like coinaday being annoying). Such an attack is capable of preventing any transaction processing for as long as it is sustained. I consider this a relatively low risk since I expect we would simply wait it out (and potentially not even notice such an attack for quite a while given the low volume of transactions currently), but it is definitely a potential vulnerability.
Bugs: It is possible that there are bugs in the underlying code. I have never read through all of the bitcoin or nyancoin code, of any version, nor even finished reading the original bitcoin whitepaper (by the way, we oughta make up a nyancoin whitepaper or ten someday), meaning I have no professional or technical knowledge about whether or not the system is fundamentally sound. I've been going based on "it seems to be working, so it's probably fine", which is, shall we say, more of an engineering than scientific approach.
Update: I have heard reference to a "time warp" bug vulnerability in the KGW difficulty function which Nyancoins has. I do not know details and my understanding is a fix to this would require a fork to change the difficulty function, so I do not anticipate a fix before NYAN3 (late Q4 2016 activation at best, Q1 2017 seems a reasonable target). I consider this vulnerability to be similar to the fundamental weakness to difficulty spikes after large amounts of hashing jumps on the network. Hostile (or simply passing interest with large capacity) hashing does degrade the performance of the network. Fundamentally, this class of attack can be mitigated with a transaction to 'unstick' the chain after, since the difficulty function will adjust in the next block after enough wall-time has passed since the last block (so only need one high difficulty solve which can be triggered by a transaction fee).
Legal: Bitcoin faces uncertain legal situations in almost every country. Nyancoin is even more uncertain, as people tend to consider bitcoin and not address impacts on altcoins. Between the potential tax implications and banking regulations and currency laws, there are a wide variety of ways a person could make a felony-level mistake. This can be somewhat mitigated by merely buying and holding, as you won't be responsible for KYC/AML presumably (although arguably an argument could be made in your purchase), and presumably unrealized capital gains wouldn't be taxable (but I am neither a lawyer nor accountant nor any sort of expert on the relevant accounting laws in any country).
Somehow getting legal opinions for Nyancoins in every country would be very useful in my opinion. If Bitcoin and altcoins are well-studied in a given country it should be relatively easy to adapt those opinions and research to Nyancoins, but it would still require some pro bono work in any case. So...hopefully we'll get some lawyer Nekonauts someday who are willing to semi-officially give us an opinion. In the meantime...hope that common sense can save you. If you sell Nyancoins directly, you're going to need to comply with the KYC/AML types of laws of your country. If you're going to do banking operations...may the central bank have mercy on your soul.
I think the best advantage we have is the same bitcoin had for its first years: we're too small for anyone to care. But since we plan to grow significantly, we need to be aware of our legal issues upon scale. Which is to say, whether or not you're allowed to sell 10,000 NYAN to your friend probably has a lot to do with whether your friend legally acquired whatever is being offered in exchange, and whether the value of what you get in return is above a certain level or not. I'm not going to try guessing that level precisely because I know I'll be wrong. $1 is probably fine. $10,000 is probably illegal without some significant licensing. I would suggest either not touching fiat or else deliberately capping it without verification after getting an independent local expert legal opinion.
concentration: The fact that I hold about 35% of the currently outstanding NYAN could be a major risk factor, particularly if I do not act in the best long-term interests of the strength of Nyancoins. For instance, I could pull my bids, sell only a small part of my holdings, crash the market, and potentially buy a lot of volume for a lower price. While I cannot foresee any circumstance under which I would do this, it is certainly conceivable that I could be financially, legally, or morally obligated to do so if I were to become insolvent.
Internet outage: if the Internet goes down, we hit a very nasty scenario. We can't process transactions, and all the miners go into a race to make useless blocks on their own. If the Internet were never to come back up, Nyancoins would be dead. If there is a daylong internet outage, the longest blockchain discovered after, presumably representing the most hashing power dedicated to empty blocks during that outage, will win. So I suppose the block rewards in that case are for having the faith in Nyancoins to keep hashing and storing the blockchain during the day without the Internet.
addictive: This was a curiosity to me when I started. Now it's an obsession for me. I'm constantly thinking about how I can help to smooth the path for Nyancoins to grow stronger and better and more valuable. You may find that once you start to realize the impact you can have upon Nyancoins, and that Nyancoins can have upon you, that you start to become addicted as well. It is possible to substitute another addiction in its place, such as dogecoins or pcp, but it is not recommended.
Nyancoin addictions are considered 'mostly harmless'. The exception is if you go 'full coinaday' and start to accumulate more than 10% of your assets in Nyancoins. In this, this is essentially a variety of gambling addiction. I would argue that it beats roulette because you can tilt the odds in your favor, but then, I would argue that, wouldn't I?
mo' nyan mo' problems: Some people have claimed that more money leads to more problems. Since nyan is money, it follows as a consequence of the conjecture. Should this be the case, your increasing nyan could potentially lead to such problems in the future as: enhanced attention from revenue collection services of all kinds (governmental and private), swarms of fake friends and gold-diggers, excessive risk-taking as a result of feelings of invincibility, an increase in certain varieties of targeted marketing, possible disqualification for asset-based welfare for you (or even your children, for instance college financial assistance), an inability to remember how many houses you own, or other serious problems.
Conclusion
There are a variety of different risks in buying Nyancoins. I believe by far the most serious one, the only one I'm personally concerned about, is the demand issue. If those of us who have found or come back to NYAN abandon it, it could die. Otherwise, I think it can survive anything, even these occasional crazy long block times.
This self-certified infallible message has been brought to you as a Public Service Announcement of the NYAN Public Relations Council, a transparent front organization of notoriously lovable philanthropist and major NYAN hodler coinaday.
submitted by coinaday to nyancoins [link] [comments]

D1P3 - TNABC 2015 - PAUL VERNON CEO CRYPTSY From Bitcoin to Dogecoin 30,700 KH/s ASIC Scrypt mining Dogecoin Bitcoin Price 1/10/2018 - $14,001 Down 5.02% - YouTube Crypto Girls THESE 4 ALTCOINS ABOUT TO GO CRAZY!!! BITCOIN INSANE MOVE ...

What is going on with Cryptsy? There is something up. The price keeps fluctuating from a buy of 157 satoshi to 160 satoshi. Every time it is the same amount of bitcoin/dogecoin being sold from 157-159 satoshi. If you place a buy, nothing happens. It just sits as an open order even though it is showing there are 2.11 BTC worth of Doge being sold at 157 satoshi. This isn't for just a few seconds ... How to buy Dogecoin with Paypal or Credit Card Instantly Last updated on February 22nd, 2018 at 12:06 pm This tutorial will explain how to buy Dogecoin using Paypal a credit card, cash and other different methods. Although it was only released in the beginning of December 2013, in the first month of 2014 Dogecoin has . trending; Dogecoin To Bitcoin Instant Litecoin . Dogecoin To Bitcoin ... Maybe it's just because I'm a very small time "investor" who doesn't day trade, but i've never had any issues with cryptsy. btc deposits and doge withdraws take < 1 hour for sure and I don't keep any appreciable balance on cryptsy. During yesterday's dip I grabbed around 15k doge for giggles with no issues aside from blockchain.info being down so I had some delay in getting to the btc I wanted ... When you scroll down, you will see the LiteCoin with your current available balance and the balance that is in possible orders. If you want to have your LTC in an address, you should download an LTC-wallet app, and create a wallet in there, and then withdraw (from cryptsy) to that wallet. List of Dogecoin (DOGE) exchanges with real-time price where you can buy Dogecoin, Sell Dogecoin or Trade DOGE from crypto or fiat currencies like USD, BTC, ETH, etc. List of Dogecoin (DOGE) exchanges with real-time price where you can buy Dogecoin, Sell Dogecoin or Trade DOGE from crypto or fiat currencies like USD, BTC, ETH, etc. Market Cap: $266b. 24H Vol: $136b. btc dominance: 62.39%. Oct ...

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D1P3 - TNABC 2015 - PAUL VERNON CEO CRYPTSY From Bitcoin to Dogecoin

Crypto Girls - Bitcoin, Litecoin, Namecoin, Dogecoin please donate Bitcoin - 1L8HvU2wdSme8tNYLjAXKhsDoyPaxtienE Litecoin - LNQKtc8Dn6KZixQjeyuobvGSTxxfWGYSN4 Dogecoin ... DOGE: DDzLWq4d8pziTwaHUw44Jjzg1PoT6Q2A81 BTC: 1HfFakm2gDwCWNWMxfQmtdbhZhg629PTbi LTC: LQAa5Akgtcxzs2kjzyAo2WyocuQHZ6mohf Tags: doge, coin, dogecoin, crypto, ... http://www.Bonavest.com - The last couple of days I have gotten addicted to the other ALT coins available, mostly on Cryptsy and BTER. This ofcourse all star... TNABC 2015 - PAUL VERNON CEO CRYPTSY From Bitcoin to Dogecoin - Part 3 Bitcoinist.net Presents in Association with TNABC This Video is for archival purposes.... Mining at poolwarz.com Auto Trade Dogecoin to Litecoin (sign up using this link and you will get 0.1 Litecoin in 10 days) https://www.cryptsy.com/users/regis...

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