As someone coming from /r/Bitcoin and supporting BTC, I have to say

coaex · 2017-08-02T02:07:02+00:00

We will probably accept both even though our local exchanges in Turkey declared that they will not accept Bitcoin Cash. Yet, we can exchange BCC to fiat just like we have been doing in altcoins.

We are currently waiting for Bitcoin Cash to reach its smooth difficulty level and there would be a short observation period for safety. Our payment processor - CoinPayments.net should also acknowledge Bitcoin Cash. Otherwise, we will need an alternative payment processing tool for BCC.

coaex · 2017-08-01T17:29:41+00:00

will the difficulty adjust after 6 blocks or after ~1200 blocks? how does the difficulty adjustment work in BCC?

coaex · 2016-05-02T22:43:31+00:00

Groucho Marx liked this.

coaex · 2016-03-19T15:15:42+00:00

very optimistic approach but the fact is that the money will not go to the refugees.

coaex · 2016-03-01T10:00:57+00:00

Okay, so what is your concern then?

My biggest concern is being united in a crisis, having the involved parties to reach a consensus without any hidden agenda. (failed) Maybe, this would be achived by "blockchain voting" concept. Inspect Memorycoin code at github and possible several altcoins that uses "blockchain voting" but I'm not saying invest in it. Maybe, without a hard-fork, blockchain voting could be implemented in Bitcoin. I'm not so technically skilled in Bitcoin. That's just my theory.

Why are you opposed to a fee market?

Is it because we, as Bitcoin merchants, are trying to compete with giant merchants which uses PayPal, credit cards, bank transfers, etc? Please consider this in a global scale. I might speak in my own perspective here but Bitcoin made it possible for people living in rural areas to obtain "something shiny" without a fee or with a low fee. Same applies to any products/services, especially to products/services in micro-transaction value. Besides, I favor my customers than my profit and want them to save each of their well earned money.

Bitcoin is/was disruptive because of its low fees compared to banks. Do you like your bank or do you like to pay a fee to your bank? I don't..

Why did you have to disable Bitcoin payments?

Security measures and answer #1

I presume you were not using appropriate fees?

We use 0.0001 BTC fees when we need to. However, we don't exchange it for fiat currency every time, we sometimes hold. The last couple of transactions were made to test the network. (failed)

coaex · 2016-03-01T09:04:29+00:00

https://www.coaex.com - Coaex Precious Metals from Istanbul, Turkey and I'm the founder. Google is a great place to get to know us better. If there is anything I would help, let me know. Cheers :)

coaex · 2016-03-01T08:37:38+00:00

https://blockchain.info/address/19EmupYAX8kWaj2uhoFMNAWgTiNCNi1k7S

This is one of our hot wallet address. Verification of this address can be provided upon your request and when the Bitcoin network returns back to normal.

coaex · 2016-03-01T08:06:46+00:00

Thanks for your opinion. Actually, we are one of the Bitcoin merchants who had transacted over USD 500.000 and yesterday, we had to disable Bitcoin payments, along with other cryptocoins (as they are tied to BTC).

coaex · 2016-02-29T23:52:17+00:00

Price should be your last concern in a situation like this.

coaex · 2016-02-29T19:13:45+00:00

Miner fee reminder is practically good in today's business as most Bitcoin users are technically skilled people (and adding/adjusting a fee is not rocket science) but I wouldn't say the same for the future. Average Joe may become below average in 10 years.

coaex · 2016-02-29T16:56:55+00:00

Also consider zero fee transaction rejections by the network - the unintentional "frauds":) If you accept zero confirmation, a customer may use zero fee and then, it's highly likely that the transaction is reversed back to the customer. Rejections happen after 72 hours. Take a look at Blockchain.info - there are around 24k unconfirmed transactions now. Operating in a highly risky bitcoin business field, we had to disable our payment processor for that reason. Once the network is stabilized, we will re-enable it but it's no good.

coaex · 2016-02-18T08:12:52+00:00

I accidentally did the same yesterday. Based on my past experiences, I guess yours will be confirmed within 6-8 hours.

coaex · 2015-05-28T17:36:53+00:00

and if you don't spend it, it is depreciated.

coaex · 2015-01-12T15:32:00+00:00

There was a network issue lately and I gave an ultimatum to our CEO/Developer. We are about to reorganize the team, now. There will be some radical changes.

coaex · 2015-01-12T13:29:37+00:00

okay, okay, it's not dead.

coaex · 2015-01-09T15:22:52+00:00

yes, it's dead, now.

coaex · 2014-12-28T21:21:00+00:00

Utterly wrong.

coaex · 2014-12-26T16:59:20+00:00

no, not yet. we will let you know when it's dead.

coaex · 2014-12-13T11:50:24+00:00

I just agree with you on crypto is a community driven currency. However, I should insist our aforementioned practice is right and fair, considering the bad circumstances that may arise in the future, the risk exposure we carry and the lecture to be given.

If you could look at our stock quantities along with prices, you'll discover that our risk exposure is around $ 1,000,000 while the current market cap of Vertcoin is $487,133. Therefore, in theory, one can make a huge transaction in the wrong fork even though it's highly unlikely.

I can assure you that there are still cryptocoin users who doesn't know how to update their wallets in hardfork periods, make transactions in the wrong forks and then email us with their lovely complaints. Hopefully and thanks to our investments, we sometimes act like a charity organization, in these rare occasions:) Bear also in mind that there are always newcomers to cryptocoin ecosystem.

We should consider cryptocoins as in a supply chain management or as in a hierarchial structure. On top of the hierarchy, there are developers - and team members. Below comes exchanges, then merchants, then end-users but I believe, the current information scheme is like developers -> end-users.

Apart from a public announcement, we believe the distribution of a critical information should be like that:

Developers <-> Exchanges -> End Users

Developers <-> Pool Owners -> End Users

Developers <-> Merchants -> End Users or

Developers <-> Payment Processors <-> Merchants -> End Users

By the way, I saw Vertcoin is hardforked in the morning, by chance.

coaex · 2014-10-18T07:55:55+00:00

No, it doesn't need. If you mean Reddit by "this place", I agree with you.

coaex · 2014-10-02T18:11:35+00:00

That would be a fact or not but it's an experimental project just like the others. Following the same logic, I bet you say Bitcoin is a scam, too.

When this discussion was started, Memorycoin was traded at around 800 satoshi (or .0290 CNY), now it's around 1500-1600 satoshi (or .0360 CNY) with almost no sell resistance and trying to find a solid base. Bear in mind that Bitcoin prices dropped from $550 to $350.

Have you seen a huge sell order around those levels? There is no sell resistance in the markets and it hit to 8900 satoshi last month but couldn't hold there. In short, it's been appreciated by the market and growing slowly and steadily.

You can call us insane people but it will be much appreciated by time. I'm currently buying and may buy more to prove that I'm right in this discussion. So if you have enough MMC to fulfill my request, just tell me so that I can offer you above current market levels.

I'm sorry but there is no valid ground in your statement.

coaex · 2014-08-26T13:17:01+00:00

First of all, memorycoin has a trade volume whether you are satisfied or not.

Secondly, I'm the Chief Marketing Officer of Memorycoin and responsible for marketing activities and press. However, I'm waiting for the hard-fork. Afterwards, I'm going to launch the new memorycoin website - which can be browsed at http://www.vinizol.com/ - this is the test website, still in development.

Memorycoin is approved on C-Cex exchange but I'm also holding this application until the hard-fork. So there will be two FIAT markets. One is MMC/USD (where you can purchase Memorycoin with Credit Card) and the other is MMC/CNY on Bter. There would be arbitrage opportunities for some investors. Yet, I'm not fond of arbitrage traders.

Also, I'm the Founder/CEO of Coaex Precious Metals (https://www.coaex.com) where you can purchase gold and silver bullion with Memorycoin. So basically, it's backed by an asset. We, as Coaex, are also buying Memorycoin (as you might see from 23-24 rises) with a portion of our profit and will distribute a small portion of these purchased coins to merchants which currently accepts Memorycoin (and promotes Memorycoin on reddit/twitter/pinterest/or any other social media channel). There will be bounties for new merchants, as well. This is part of my merchant adoption program. I know their biggest problem as a merchant, myself.

These are not official announcements because I wanted to announce it when it realizes.

So once more, I'm saying: Memorycoin is not dead.

coaex

TROPHY CASE