Another new coin that I mined for fun, talk about a ride.

[Joel]

At this stage it's all about hype. It's simply people pointing their farms to rack up coins while they're easy to get. Once they've hit their quota, it's back off to the proven coins.

Must be some pretty big farms. Difficulty just shot up to 74MH/s.

I pointed my Vegas at this last night and mined 2000 coins for giggles, but now that the diff is so high it doesn't make any sense at all.

The other possibility is that people are buying Nicehash power to mine this.

 

[alex_stief]

Soooo...
Was this just a pump&dump scheme? A scam coin?

 

[Godfr33]

 

[onsit]

So far there are some questionable things, such as the few individuals that started mining really early on. But other than that, it's got a soid community sofar, can't speak to the fact if they are chat bots or not.

The amount of git commits, and pr comments make me feel better about the coin however. There is a decent amount of movement in the community for this coin honestly.

As you should do with any coin where you have these concerns, join the discord/irc and get a feel for if it's shady or not.

I'm mining a few other coins, but I usually point back to turtle once every few days.

 

[spfoo]

So far there are some questionable things, such as the few individuals that started mining really early on.

That's the new trick: "Hey look we don't premine - trust us!". Then an "official" launch and immediately a huge nicehash attack...by the devs themselves. I've seen it in another coin.

 

[polyfractal]

My take is that mkid is largely trying to PnD the coin although without a ton of success. It may be that mkid is secretly one of the devs but I doubt it.

Mkid has:

• Repeatedly bragged about volume of TRTL that he mined, nicehashed and bought. Unclear if he really holds the quantity claimed, but by simply stating repeatedly everyone assumes he does, and is a form of market manipulation
• At one point he claimed to have sunk 17.2 BTC into TRTL, so like $140k USD depending on where BTC was at the time. Maybe he's money-bags rich... but that sounds unlikely to me. And if he really did spend that much, it can't be for the grand vision of TRTL because there is none atm...he's clearly just wanting to PnD
  
• When the price spiked to 37 sats, if you were looking in the chat he was whipping the room into a frenzy, talking about maintaining buy walls to keep the price from slipping, etc. And as soon as it started to fall he was playing the brave soldier, "I can only hold the price so long, I've spent so many bitcoins! It's just the whales manipulating! Hold strong!"
• On multiple occasions says the equivalent to "well i'm going to liquidate everything, TRTL isn't for me anymore, later guys". Then comes back a few days later and starts over. Just yesterday claimed to pull 2 BTC off the market... yet there was no noticeable change in buy/sell orders (if anything I think there are more BTC buys on TO than before).
• Talks repeatedly about wanting to hold TRTL long-term, then tries to get the devs to burn coins to increase the value of his stash
• Keeps harping about how 80m coins are mined per day and that the quantity devalues the coins, completely ignoring the devs and others telling him it's the atomic units that matters. I'm sure he knows... but he's trying to manipulate sentiment

Dunno. My take is that the coin is "legit" in the sense it's a projects the devs are having fun working on. The dev channels are reasonably active, and commits are hitting github. But a few people glommed on to it early and were trying to PnD it for personal gain.

I'm just gonna sit on my coins for a while and see what happens. But there are more profitable "daily miner" coins that I'm sending my hashing power towards right now.

 

[Klee]

My take is that mkid is largely trying to PnD the coin although without a ton of success. It may be that mkid is secretly one of the devs but I doubt it.

Mkid has:

• Repeatedly bragged about volume of TRTL that he mined, nicehashed and bought. Unclear if he really holds the quantity claimed, but by simply stating repeatedly everyone assumes he does, and is a form of market manipulation
• At one point he claimed to have sunk 17.2 BTC into TRTL, so like $140k USD depending on where BTC was at the time. Maybe he's money-bags rich... but that sounds unlikely to me. And if he really did spend that much, it can't be for the grand vision of TRTL because there is none atm...he's clearly just wanting to PnD
  
• When the price spiked to 37 sats, if you were looking in the chat he was whipping the room into a frenzy, talking about maintaining buy walls to keep the price from slipping, etc. And as soon as it started to fall he was playing the brave soldier, "I can only hold the price so long, I've spent so many bitcoins! It's just the whales manipulating! Hold strong!"
• On multiple occasions says the equivalent to "well i'm going to liquidate everything, TRTL isn't for me anymore, later guys". Then comes back a few days later and starts over. Just yesterday claimed to pull 2 BTC off the market... yet there was no noticeable change in buy/sell orders (if anything I think there are more BTC buys on TO than before).
• Talks repeatedly about wanting to hold TRTL long-term, then tries to get the devs to burn coins to increase the value of his stash
• Keeps harping about how 80m coins are mined per day and that the quantity devalues the coins, completely ignoring the devs and others telling him it's the atomic units that matters. I'm sure he knows... but he's trying to manipulate sentiment

Dunno. My take is that the coin is "legit" in the sense it's a projects the devs are having fun working on. The dev channels are reasonably active, and commits are hitting github. But a few people glommed on to it early and were trying to PnD it for personal gain.

I'm just gonna sit on my coins for a while and see what happens. But there are more profitable "daily miner" coins that I'm sending my hashing power towards right now.

I think your right on all points.

 

[ServeTheSam]

Did you guys see that the bid depth went inverted a few hours ago?

220M @ 3 instead of where that volume usually is at 1....

 

[onsit]

It's at 2sats, but BTC is also back up to $11k ... so while it's not at 30 sats when BTC was at $8-9k, it's still not THAT bad. Still slightly more profitable than other cryptonote coins, still 2x more profitable than Monero.

I think the biggest issue is that it's still on a sketchy exchange, and TradeSatoshi doesn't seem to be driving any increased volume either. More or less it's being manipulated right now to the 2/3 Sat wall.

Based on the Dev channel, there seems to be some interesting talks on porting over KRB's approach to prevent the nicehash attacks (diff sky rocketing / pulse mining). Also some cool dev's are close to getting snipa22's nodejs pool over aswell (which plays better for proxy miners).

Curious to see if this rush of developers sticks and turns into a decent community. Guess we'll know by summer time if the coin will make it passed it's first year.

 

[onsit]

Anyone else have anymore thoughts on this coin? Development seems stagnant when compared to the recent cryptonote releases of Graft masternodes, and IPBC video player.

 

[nfsden]

2 satoshi hypecoin/shitcoin

 

[spfoo]

Anyone else have anymore thoughts on this coin? Development seems stagnant when compared to the recent cryptonote releases of Graft masternodes, and IPBC video player.

I think this is becoming the case more and more on cryptonote-based coins. Devs are vanishing.

Aeon: I tried compiling the latest release a couple of days ago and it failed on a standard Ubuntu 16 setup. I looked up the issue in github and it was reported almost a year ago. It's a trivial fix, but it's still not fixed or documented in the README.

Sumo: wallet I create months ago showed 0 balance. It had already taken me a day to get the daemon to sync fully and the wallet sync took another hour. And the result was 0. The devs responded quickly though. But this same issue - wallet has to be recovered/recreated using the mnemonic - I had a few months ago with another cryptonote coin. Issues are lingering.

Intense: daemon is unstable. Politely said.

Electroneum: daemon issues as reported by funky.

 

[onsit]

I think a this point i'm just going to sell my hash to Nicehash or MiningRigRentals, and let the buyers decide what flavor of the month coin they want to mine. I would just need a reliable, stable coin to use as a backup for when not rented.

Turtle looks like it's been pumped, and everyone that mined super super early got out while it was good.

 

[cafcwest]

Mining a joke coin, this was always the risk. I'll sit on my stack in the even more off chance that it ever becomes something. And of course, rocking my t-shirt - it has already lead to a few fun conversations.

 

[MiniKnight]

@Klee can we call this a pump and dump coin? 51% victim?

 

[Klee]

@Klee can we call this a pump and dump coin? 51% victim?

It definatly was pumped and dumped, but most new coins are.

But it started out as not a too serious coin and it is still that, I mined over 7 million before it ever hit an exchange and I bought a few hundred thousand more and mined for another weeks or so and now have over 9 million

So if it never gets above 1 sat I am still doing great since I only have about 3 1/2 weeks of electricity and some time invested.

Yep I do regret not selling at the peak some and I was astounded how quick it was shooting up and I knew it was a pump and dump and I knew it was going to head down and up a few times before it stabilized, I just wish that was a bit higher. LOL

So I will continue to hold like I always planned and hope for the best.

 

[leerees]

As others have said, it's a joke coin or "shitcoin", same as GRLC. When it starts going down in value sell your coins off on an exchange, never "HODL". Why is crypto lingo so cringe worthy!

 

[Godfr33]

Mining is about have fun and the off chance a "shitcoin" does well.

Did it cost you more than going to a horse track or casino? I'm sure the 10,000 BTC pizza guy thought I've got to dump these "shitcoins", this chump is giving me 2 whole Pies for this "magic internet money".....what a sucker!