Bitcoin Forum

Annoucing Transactcoin


WHAT IS TRANSACTCOIN

TransactCoin is a peer to peer digitial currency, and is intended as a replacement credit and debit cards, even cold hard cash, designed to be easy to use, and fast to spend, TransactCoin will set the standard for Merchants with the ability to cash out in under 15mins, from trasaction to money in the bank in just 15mins, no other coin can match that, and its faster still if the network is moving faster.

TransactCoin is more secure than good old visa and mastercard, its also 100% transparant, our payment network is faster, more agile and more responsive, not to mention its cheaper, transactions take just seconds to arrive and are fully spendable in a within a few minuets. When compaired to conventional mastercard or visa services where merchant funds can take upto 3 days to arrive, transactcoin is a breath of fresh air, you can move much much faster, with funds to your bank within 15mins of your customers purchase.

TransactCoin has no end to mining, with blocks constantly moved by miners and a base reward of 4 coins, but unlike other coins, transactcoin enforces a trasaction fee, every 10 transactions in a given block will add 1 coin to that blocks reward, the more transactions carried out by the network the bigger the reward for mining and securing the block chain, and whilst combating pool abuse is a key area of concern we think we have it covered.

So in summary, TransactCoin, is just like the US Dollars, or British Pounds or Indian Rupiees, its cash, its just like your debit cards, fast and secure, and it combines all this into one functional payment network, TransactCoin is designed to one day totally replace cash and cards, and totally destroy the control of banks control over OUR money.

WHY WE CREATED TXC

TransactCoin is built by a few private individuals who had nothing better to do than complain about the on slught of new coins within the crypto market space, many bring nothing to the table, others are outright scams and others still are just poor, then theres the devs out there who dont release and manage one coin, oh no they have ADHD or something, they have to release coin after coin after coin, all as bad as the last and either then left to die, or merged into oblivion. There ANN Threads make promises of riches and wealth this that and everything else. Crypto is not designed to make you money, crypto is designed to replace money one day, the quicker people grasp this simple concept the better

• 2.5 Min Block Time
• 71 Block Retarget
• Scrypt Algo
• Port 9000
• Built on Bitcoin and Litecoin Base Code
• Designed to Favor Solo Mining

Distribution Fund
For a coin like ours where we DEPEND on there being transactions, a typical launch with subsequent free for all, a slow burner, it would take a long time for the network to generate a meaningful amount of transactions each day, not to mention the headache of a new coin and hundreds of Gh/s dumped on it. We talked for a long time about how you could really do a truly fair launch, as we came up with ideas someone else shot them down, it took us ages to work it out, then it hit us there are already millions of users for crypto currency's worldwide, there all using a vast range of online services, exchanges, pools, stores and the likes, so why dont we have them to distribute the coins? Thats exactly what were doing! And the exchanges


So weve already contacted a huge range of service providers, some seem interested others do not, we dont blame the doubters but as the launch nears and the excitement grows they may end up taking part. The whole objective is for Exchanges, Pools and other service providers, to give us 1 simple peace of information, On September 28th 2015 How many REGISTERED (yes registered) users were on the platform, thats it. We will then total up the numbers provided from all the providers, we divide it with the total coins for distribution, and hey presto, everyone now has X Coins.


you can find much more information on our website at https://www.transactcoin.uk

The official Forums are at https://forums.transctcoin.uk.

We will not monitor this ANN Post, please feel free to contact us on our official forums

Scrypt Algo, Designed to favour solo mining...

How are you going to stop ASIC exploiting this Algo ?

Oh thats almost cool, why redesign the wheel.


mammix2 you might understand if you read on there site, there not trying to stop asic miners, they think they have a novel solution this could actually prove interesting.

Theres a fair bit of info on there site.

Congrats to the dev team, but if this is bad ILL BE BACK

Yeah just reading it now...

{
"blocks" : 3675,
"currentblocksize" : 0,
"currentblocktx" : 0,
"difficulty" : 3.35947712,
"errors" : "",
"genproclimit" : -1,
"networkhashps" : 201648417,
"pooledtx" : 0,
"testnet" : false,
"chain" : "main",
"generate" : false,
"hashespersec" : 0
}

Every one join with their webwallet to get the share of Distribution Fund.

kudo's to the devs for putting so much work and thought into this coin - I really like it.

however with such a huge giveaway coming up do you think it's worthwhile to even mine?

and can you guys explain this? "and whilst combating pool abuse is a key area of concern we think we have it covered."

great site, i will join to your web wallet

Nice website at https://www.transactcoin.uk I will try it out tomorrow  :)

Interestingly enough, I'll try and later I will give feedback after registering and transacting. wait me dev

The block reward is low on purpose, since it is subsidised with transacion fees, where each transaction will add 0.10 to the block reward, during the test phase, blocks with 50 coins in them was easy enough to obtain and process transactions.

In an attempt to generate more transactions for the network, were lining up a nice collection of launch services, hopefully this along with the distribution and availability of new servers will strike a nice balance between mining base rewards and mining actual rewards, of course we could be totally wrong, in which case we might have wasted peoples time.


At the very least other projects POW will benifit from what were trying here, with most coins halfing there way down to nothing and then relying on TX Fees for miners, will it work wont it work, this could provide valuable insight into miners, what they want and how they want it etc.


In releation to the Giveaway, yes there is the potential for a Huge ammount of coins issued to each user, but based on the first 24hours performance this wont happen.

With a target of 2 million people in the give away, i think (its early) the maths suggested approx 3500 coins per User,  with a little over 2000 coins per day available from mining, so mining even now COULD allow you to mine mroe than you would be issued with so its upto you he users to make an informed decision.

As always, we make no promises of riches to anyone, crypto markets and trading are investments and you shouldnt invest more than you could afford to loose, crypto is ment to be fun, so lets have some shall we.

Thanks All.



PS Please join us on our forums, BTCTalk will go mostly unmoderated for a few weeks untill distribution nears, youll all find much more infomation on https://forums.transactcoin.uk

2 million people in the giveaway - seriously - where do you expect to find 2 million people?

I think you'll be extremely lucky if you could find 500 people to register for your web wallet.

We think 2 million addresses in the distribution is entirely reasonable and very achievable given the right tools, and support, launch partners could make it very easy to reach that kind of number, just watch this space, we shall see what happens. Nothing wrong with some goals and targets :-)


BITDV, yes we will add 2FA to the platform today

How mine it?
Poll http://pool.transactcoin.uk/index.php?page=dashboard.
Where stratum info???

http://pool.transactcoin.uk/index.php?page=gettingstarted

You can find the stratum details there, i will add the getting started page to the menu's

Really? I registered services today, but I did not see the information about it on the forum

Added :)

Enjoy

Somebody could create many wallets himself.... This fact:   Doesn`t matter?

The only valid service at this point in time accepting registrations for distribution is our own, and we will be monitoring and closing accounts that appear to be spam, these account holders will be contacted before there accounts pulled.


With the announcements of the launch partners in the comming days, you will discover everyone has a chance of being registered in more than one place and a payout tied to that fact. And everything will probably make more sense then.

We want to reach 2 million addresses at launch, it would be nice if those were 2 million people, but i think that could be a little ambitious.

More than 500 people are already registered for the distribution on September 28th, all you have to loose by signing up is a throw away email address, a perhaps 5 mins of your time.

WOW i just found this coin and it looks exciting. I am waiting for the site to come back to read the rest.  :)

o.k i joining tonight and will open a web wallet..

So the distribution  is announced to September 28th. Any news?

Any explanation?  Is it dead?

Somebody else is using a name very similar: https://bitcointalk.org/index.php?topic=1205224.0

the only reason to premine for a 2million people giveaway is because u know never 2 million will claim

so always the risc what happens with unclaimed premine is damokles sword over this coins

in my opinion the risc of dev sells premine is to high to get burned

Right,

And they sometimes they can  only looking to get emails information like to this case, About that you had mentioned that seems to be the trend:
https://bitcointalk.org/index.php?topic=1190162.0
https://bitcointalk.org/index.php?topic=1189614.0

Curiously launched a day apart.