I think the crypto world would be just about perfect if it weren’t for the infamous technical difficulties. Sometimes they are my own, but other times they have nothing to do with me personally and yet affect me.
The Bitcoin Trading Corp is shutting down, and to be perfectly honest it was quite disconcerting to see the condition in its advertisement about the script being for sale that US citizens would need to be blocked from accessing any sites using this script. Are US regulations seriously that problematic? Since this isn’t a political blog, I’m going to leave that question unanswered for now.
The part that is directly impacting me right now is that BitFunder is unable to handle the migration of my TAT.ASICMINER shares. Initially we were given two choices: BitFunder and Havelock Investments. I had heard about BitFunder so I chose it. Well now I’m told I must use Havelock. Technical difficulties were cited as the reason. Apparently BitFunder doesn’t have the capability of accepting a migration. So today I created an account on Havelock and resubmitted my migration request. Just looking around the site I think I’m going to be happier with that outcome. Havelock has a more professional look and feel, and it has better integration–as in I can deposit Bitcoins directly to my Havelock account, whereas that is not possible with BitFunder. BitFunder uses a third party to deal with funds. Havelock Investments is also located in Canada, and considering the condition in the Bitcoin Trading Corp script advertisement, perhaps that is more of a blessing than I realize at the moment.
WordPress apparently has a difficult time sending emails that will actually get through the current email filters. In order to purchase a listing in the Devcoin Directory, you first have to register on the Creative Currencies website via WordPress’ system. This requirement is what will allow you to go back and edit your listing at any time. The only problem is that WordPress has to send out an email with your temporary password, and those emails aren’t getting through. My site isn’t the only one with these issues. WordPress apparently is still in the stone ages when it comes to email. There are plugins which essentially take over the emailing process and which work much better. But sometimes those plugins have technical difficulties of their own which take time to troubleshoot. So I need to be sure I have an open ended period of time available to me before I want to mess with them. This delays my Devcoin Directory project. At least I can still write for the Devtome.
My love affair with mcxNOW is going to be quite short lived. I just learned today that RealSolid, the founder and developer is going to drop Devcoins. I wrote him to register my protest and his reply said that essentially he was having technical difficulties with the Devcoin node which were causing him grief. His comments about Devcoin in the chat window have been far more scathing. And I’ll just leave it at that.
That’s disappointing. I actually really liked having my DVCs earning interest just sitting on the platform. And when I did trade them out, the experience was generally far more fun and interesting than when I was doing it on Vircurex. DVCs haven’t been dropped yet, so I’ll just keep using mcxNOW until they finally do get dropped. Then after that it’s back to Vircurex for me. I probably won’t be buying any more mcxFee shares for a while either–not until the price drops substantially.
Speaking of mcxFee shares, I made a good decision yesterday when I sent my freshly purchased Bitcoins on to CoinLenders rather than acquiring more shares. The mcxFee share payouts were quite decent yesterday and I figured it was because of increased trading. It turns out that it was actually the result of a new feature on mcxNOW, called the pay ban. One user can ban another user from the chat window for a certain amount of time by paying a certain amount of Bitcoin. The lowest amount is 0.01 BTC for a five minute ban. Apparently that feature is quite popular with heavy chat window users who have Bitcoin to throw around. The pay ban is considered a fee, so it gets distributed back among the mcxFee shareholders.
Of course I’m happy to pick up a larger dividend. However, when the increase is due to heavy use of the pay ban feature, that is a totally different reason than what I’d like to see, which is a steady increase in the number of trades made on the platform. It may also indicate that mcxNOW may be less of a trading platform than I’d been originally led to believe. I don’t have any regrets about the three mcxFee shares I did buy, but I’m not looking at future purchases as a really smart investment any more. And the plethora of profanity showing up in the chat window just adds to the less than professional image the site is starting to get. The bottom line is that for me, I use it as a way to handle my DVC-BTC trades. When that ability disappears the site loses a lot of interest for me.
Things change incredibly quickly in the crypto world, and when you have a life outside of earning cryptos, that can be difficult to deal with. I think I’m doing OK so far, but I do have to change a lot of things around. I’d really love to see the various websites which deal with cryptos, particularly the investment sites, actually stick around for a long time, actually do what they claim to do, and help people create and build wealth in a sustainable way. I’m thinking along the lines of a real economy, where you can make a real living. It’s that part which seems to be in short supply. It’s not that a lot of sites are scams, although there are certainly plenty of those. It’s just that it’s so easy to lose momentum, and that loss of momentum can hurt the users. Bitcoins and the other cryptos are really neat concepts, but they suffer from some of the pitfalls of the Internet–incredibly short attention spans and incredibly short memories. Things can change on a dime, and that leads to instability, which makes it tough to develop a real economy.
And then there are the technical difficulties…
On the bright side, there is never any shortage of material to write about.