Amen.. Still sat on my Noble.. but making a nice amount from the other chaff..

JUst a quick point, keep the announcments to a minimum, as they get ripped off VERY quickly...

Read initial opening post mate...

Don't take this the wrong way but I believe that all announcements should be left until its too late for others to clone the ideas (noble has been shit on enough), hence asking you to read opening post.....

thanks a lot james6546... now, i understand a bit... just a bit on how crypto currency works... i'm reading, processing so as to better understand every discussion posted here. and yes, there will be always a positive and negative side... but, for our coin (NOBL), personally, what i see is, it would be more on the positive side...

again, thanks a lot for enlightening me on PoS... this is "a knowledge on a day" for me...

 

i had read it but not yet completed... and yes, it is very informative... had shared it to my friends too... had also invited them on Noble but it seems, they didn't care for our coin   

thanks...

I disagree with you on this one for sure because your analysis completely ignores the changes that occur with the supply and demand of the coin.  Also there is no difference in what is "backing" the coin. In either scenario you have an amount of capital, whether physical or digital, that is being utilized to hash on the chain.

I don't agree. Litecoin is already being dumped hard and still sustains a good price (although declining). Adding that thing won't make much differnce in amount of coins dumped. (ok, maybe until diff readjustment)

What I mean is that even without asics its being dumped hard already. And for fast adjusting coins, this means even with asics, amount of dumped coins does not significantly increase.

well i was just talking about this earlier in the thread and another user said it would be years before 1gh scrypt asics are released.. from the looks of this im thinking we will hear news of them before the end of the year. so alt-crypto will have to get alot more investment strength or risk getting raped 10x to 10 cents mining profitability per day. u can say i foresaw it and thought i would help noble, which i thought to be a coin with a team with good intentions by suggesting we start making switches to antiasic algorithm to slow daily supply as well as POS to acquire more investment interest. hopefully noblecoin will be able to move with the times and come up with a decent structure to strengthen the value of the currency and get the real ball rolling. as it is Rofo has sadly admitted that the value of noblecoin is suppressed to hide from multipools and their profitability switching. but i think with my suggestions noble will not have to worry about such a thing.

as much as an asic owner will love the idea of getting alot of coins and the greed associated with that. he should consider that any moves, even away from asics will increase the value of his currency. but i guess it's too bad. scrypt crypto is dying a slow death.. the heat output and electricity usage is no longer acceptable. hence users are moving to more efficient and cooler running algorithms. some of which have been compromised. so choose well which algo ur going to employ.

just wanted to help. only have like 100k noble atm and that's because im not currently investing in any scrypt coins. and i think soon others will follow. dumped all my ltc, doge.. i just dont see them coming back up.

it's not just that. i sorely hold to any one economic idealogy. especially of those minds from the past. this is the 21st century, we have a more evolved society, and growing minds and cultures and behaviours have changed since those guys time. as much as some old fashioned idealogies may find some areas where they are still accurate today. i dont think that they can be and/or should be looked at as a universal way of seeing things for the rest of humanity's existence. situations change, behaviours change and what was once can no longer survive.

if only it was still so clear cut black and white. plus, as much as we may want to compare mining in the mines to virtual mining. it is my view simply that the value of a currency now, especially in crypto is determined by how many competing sellers there are and how low they are willing to go to extract a different currency for theirs(btc for nobl). basic supply and demand will not drive the value of the currency simply because investors will run out of investment capital and then what do you have to attract new investors??. as i can buy 2.5billion coins out of 3billion but the remaining 0.5billion still may contain undersellers who will push the price back down to the starting point because they didnt get to sell in the first place.. meaning i will continually have to buy to lift the price until i own all 3 billion coins. psychology plays a major role now as many people understand economics and capitalism to a greater extent than the average person did say 100 years ago.

but if noone sells in a market with 10billion coins and all u can find on the market are  .01 fractions to buy at say $3000/coin, then that really does not help the standard supply and demand model. the value of each coin would effectively be $3000, but because noone is selling down the price the demand was allowed to grow. but that doesnt mean there wasnt a large supply. so at the end of the day.. u have to give people something that they are willing to hold on to. very very few people will just buy and allow their investment value to shrink to 1/10 their buy in value without dumping the stock to rebuy lower or invest elsewhere like i have with ltc and doge.

i invested in ltc hoping for it to rise.. but instead it lost 50% value. i dumped it, invested in a coin and received 3 times my ltc value in btc much quicker than waiting for investors to accumulate and build ltc price. it was just the smart thing to do. now if i see fit, i can reacquire my ltc at no loss. but im seeing nothing from them to provide me that interest. so vericoin will now get ltc's investment.

in crypto supply and demand plays a little differently. what is being sent to exchanges is the supply. and what is being held in personal wallets is not. thus simply holding will create scarcity and force buyers to pay higher prices to utilize the services. it requires patience on the part of all investors. individuals who want noblecoin itself will mine it because that is what they want.. but multipools and asics may not have the same view. if users do not want to hold the coin and will continue to sell at sub 20 satoshi even after this coin has shown that investors are willing to pay upward of 200 satoshi then it is an indication that the coin is losing the race to daytraders and others who really dont care about it as earlier investors are pretty much filled up with all they need/want and there is nothing successfully attracting new investors to set the floor at 200satoshi.

Don't assume anything.  I have an undergraduate degree in economics from a "heterodox economics" university.  During which period I read the road to serfdom by Hayek and was exposed to many economic theories and studied history of economic doctrines as well as macroeconomics. And besides that, Mises isn't a classical economist, he is Austrian. Smith, Ricardo, et al are classical.

Anyways the point here isn't to debate who knows what about economic doctrines, because I am sure that we would agree on very little.  Instead I would like to take issue with this statement because it is totally wrong:

First of all the creation of money in the case of crypto is the supply. So it is directly relevant. But instead of thinking of the money supply (the total number of coins), I think in terms of the coin supplied in the form of sell orders on the exchange. When a coin is proof of stake, and especially high rate PoS, coin sell orders are not plentiful because everyone takes their coins and stakes them rather then keeping them on the exchange. This will happen to NOBL and it will cause the price to be bid up.  I have seen it happen CAP when it went from 1% annual stake to 200%.  Look at the sell orders on TEK (500%).  There are plenty of examples of this.  And it really doesn't require any understanding of classical economics or austrian economics, it only requires knowledge of very very basic supply and demand charts.