Bitcoin Forum

Innovations and Contributions

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Based primarily on peercoin and with a few ideas borrowed from mintcoin, preminecoin and heavycoin (mostly for the IPO structure).
Our plan is to instamine all the coins from the genesis block and distribute them proportionatly to our investors on launch day.

Total number of coins will be 15,482,880 with 1% inflation per year paid to each wallet containing coins which meet the PoS criteria being 20 or more coin days held in the same wallet.
There will be a fixed block reward of 0.1 OSMO for the life of the coin.


Goals

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Create a sustainable and environmentally friendly medium of exchange freely available to be used by all.
Provide long-term open source development, support and maintenance.
Build a great community of stakeholders.


Specification

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Proof Of Stake (mostly).
Algorithm: Scrypt
Block time: 2 Min
Retarget up: Every 5 blocks (max 100%)
Retarget down: Every block (max 200%)
Block reward: 0.1 OSM
Total supply: 15,482,880 + 1% PA
Premine: 100%


Dates and Info

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IPO dates: March 6th - March 13th, 2014
Mining launch: March 15th 05:00 UTC (forum time).
Wallets: Windows, Ubuntu, and Debian available at launch.
Mac OSX wallet will be finished before Monday, bit more testing.


IPO Details

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To invest simply send Bitcoin to the IPO address using one of the procedures outlined below.
As with all investing, investments are final and not refundable.
Investments must be received before 00:00 UTC March 13th, 2014.
Funds received after this time will be returned to sender, with the possible loss of minimum Bitcoin transaction fees.


Key Info

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Start date: Thu Mar 6th 05:00 UTC.
Cut-off date: Thu Mar 13th 05:00 UTC.
Osmosis IPO address BTC: 1LFGEmdZtdjukfUbR69DTL4KTwiD5ymwDL
http://s3.postimg.org/pl2j8gotv/osmosis_IPO.png
Total IPO investment received so far: 0 BTC.

The 15,482,880 OSMO will be distributed among the IPO investors proportional to how much BTC they have invested.
There is no limit on the amount of BTC investment.
The free market will determine the OSMO exchange rate, for example:

Osmosis IPO investors will be paid their OSMO stakes instantly the moment the Osmosis genesis block is released on March 15th, as soon as the network is launched and mining starts.
There will be no lengthy waiting period nor will there be a manual, error-prone disbursement of funds.
It will be an automatic process leveraging the genesis block. Investors who want to take part in the IPO must follow one of the two official IPO procedures below.


IPO Procedure 1 (preferred)

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1. Download Osmosis Keypair and Address Tool (https://mega.co.nz/#F!qVRRFQ7L!qTa_j5OrCqmiaWoTNNyJhQ) for your platform.
2. Unzip to your Dekstop.
3. Generate an Osmosis keypair, for example:
Warning: In Windows there will be an annoying line-wrap splitting your public key over two lines (see above)
4. Save your Osmosis Private Key, Public Key and Address in a very safe place.
Warning: Keep your private key secret.
Warning: You will not be able to claim your OSMO without these details!
5. Send any amount of BTC to the IPO address.
Record the Bitcoin Transaction ID of your payment.
6. Post a message to this thread with your Osmosis Public key, Bitcoin Transaction ID and Amount sent, for example:
Warning: Be careful when copying and pasting the Osmosis Public Key. In Windows line-wrap splits the key in half and you need to make sure to paste it together without any mistakes. If you make a mistake you will be unable to receive your OSMO.
Note: If you desire confidentiality, then send a PM instead.


IPO Procedure 2 (even easier option)

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For users who find the osmohashgen procedure above too difficult or technically complex, you can make your OSMO IPO investment with the following procedure.
1. Send any amount of BTC to the IPO address and include the md5sum of your username along with your payment as a message. Using the blockchain.info website is by far the easiest method of achieving this.
If you're not very familiar with performing this operation using the command line, you can simply visit a website like 'http://www.miraclesalad.com/webtools/md5.php' and it will generate the md5sum for you.
Please be aware that it is not insecure to use a website service as nobody other than you would want to include the has of your username in their payment (unless they were feeling very generous).
Record the Bitcoin Transaction ID of your payment.
2. Post a message to this thread with your Bitcoin Transaction ID and the Amount sent, for example:
Note: If you desire confidentiality, then send a PM instead.
3. We will perform the keygen procedure for you and send you bitcointalk.org PM confirming your investment and giving you your Osmosis Address. We will hold the private key on cold storage for you.
4. When the Osmosis genesis block is released, you will install the Osmosis wallet and generate a receiving address.
5. You will then send us a bitcointalk.org PM with the details about your stake and your Osmosis receiving address.
6. We will perform a security check and send your OSMO stake to the supplied Osmosis address.


IPO Security

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We will send you a bitcointalk.org PM confirming your IPO payment has been received.
Please be aware we will only be checking the forum inbox one or two times per day so please be patient if you dont receive confirmation immediately.
If we encounter any conflicts where multiple bitcointalk.org handles are claiming the same Bitcoin transaction Id, then we will contact the respective users and the legitimate key holder will be able to prove she owns the sending Bitcoin address by sending us a message signed by the corresponding Bitcoin private key(s). Thus, any attempts to cheat will be completely futile.
Advanced users who want to to sign their forum posts from the start are encouraged to do so. In this case you must send your IPO payment from a single address and then sign their IPO forum post with the corresponding private key. We can then verify that the Osmosis Public Key does indeed correspond to that particular BTC payment. Sending payments from a specific address can be achieved from the Bitcoin RPC interface OR using blockchain.info.


Mining Launch

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Wallet downloads:
Mining parameters:
Seed nodes:
Offical Website
Exchanges
Articles

A great FAQ on PoS from the mintcointeam:

In this situation a faucet would be impossible sorry.

pool-

The scumbag team generated another scumbag coin, congrats.

1st post and creating a 100% IPO...

Watch out everyone.

THIS IS FUCKING RIDICULOUS, ITS MADNESS, ITS ABSURD, This is going to happen?

No escrow?

Please, enough.
How about we support the coins we already have?
Oh yea, then you wouldn't be able to get rich quick. I forgot. Silly me.

pool

As previously noted, this is required on every page of every IPO. If you don't know why then you should not be investing into a supposed IPO.

No escrow ???

fuck off. bs scammer's is your coin symbol OJ cause your gonna murder everyone by stealing their btc you greedy bitch! ipo's are for sucker's

lmao, that's too easy, just premine 100% and sell for bitcoin? everyone can create such coins and get free bitcoins. Ridiculous.

As crypto becomes more accessible to people we will seen and exponential increase in new coins, this is the nature of the free market and it's a good thing :)

The reason for this is to set an initial market value for the coin as outlined in the announcement.

Sorry for the slow responses everybody but am currently limited to one post every six minutes since the launch account is new.

As pointed out to Mylo above, as crypto becomes more accessible to people we will seen and exponential increase in new coins, this is the nature of the free market. This is a good thing though.

You are free to build a pool if you wish but please be aware you will have no special access to the source code. It shall be released to the community as a whole the moment the coin is launched.

we already have Coin2/C2 that fair and transparent distribution to 1000 users with free..your IPO is obviously a SCAM..so fuck off!

can I call it asscoin?

i downloaded the binary and it generated an address for me like heavycoin

Premine (PMC) is one of the only coins that is successfully 100% Premine, and you didn't even have to pay to get any. Now look at the price of it.

Forget these scamcoins and invest in PMC.

Brand new account + IPO. Do not send BTC.

This scam tries to trick you by ripping off the Heavycoin IPO model in order to gain trust.

hahahha another ipo scandal!  :o :o :o :o :o :o :o :o :o

look at heavycoin thread... its the same description so.. its most probably a scam

Yup crazy shit that people throw their money away on this.  ???

.1 block reward with a 2 minute target time ... that is crap, I'm out

Yup crazy shit that people throw their money away on this.  Huh Be careful when copying and pasting the Osmosis Public Key. In Windows line-wrap splits the key in half and you need to make sure to paste it together without any mistakes. If you make a mistake you will be unable to receive your OSMO.
Note: If you desire confidentiality, then send a PM instead.

Osmosis was added to AltCoinCalendar.info (http://www.altcoincalendar.info/coins/223-OSMO).

 Check Coin Countdown (http://www.altcoincalendar.info/coins/223-OSMO)

if you like our work donations are welcome.

here let me help you:

SCAM!

look at format of op post.

looks familiar?

btc should lock the altcoin announcement thread.

this is absurd

funny.

just a normal coin , with no feature ,lol


forget it

>80% of new launches are scam.

It's not a normal coin. It's a real scam coin , with a fake IPO.

A 100% premined coin from an account with 1 post which stole name and logo from a iOS videogame doing an IPO? No thanks.

here let me help you:

SCAM!

look at format of op post.

looks familiar?

btc should lock the altcoin announcement thread.

this is absurd

looks very scammy!!!  >:(

This has written scam all over it

http://media.giphy.com/media/s2qXK8wAvkHTO/giphy.gif


 Nuff said.

Edit: Oh wait... there's this:
http://i566.photobucket.com/albums/ss105/DougInNewYork/ATT00000.gif

(For those who must get in...)

WHAT IS WRONG WITH YOU PEOPLE? With so many junk copy coins being released to the market for a profit, it is not only giving this industry a bad reputation but also diluting and destroying the value of all coins. There is already enough bad press as it is. We need coins with character and a community of honorable people in order for crypto currencies to have a chance of survival. These dev’s have gotten so lazy that they premine them all now. Don’t destroy what you love.

scam,oh

No reason to participate to the IPO of this coin, there's no added value. Next had something, Emunie seems promising, but here, pure speculation and nothing that makes you want to buy it, except from finding a greater fool.

You do realize this is just the beginning, right? It's about to get much much worse.

+100

lmao these fully premined coins are, well, yes they are so, well, nope that's impossible.

Lots of people are doing their part to fuck the whole thing up.  I guess the market will decide if crypto keeps getting an influx of money or not.

It's been like this for years, it'll just continue to get worse. While there's a bit of innovation (Nxt, Mastercoin, Etherium etc..), most of it continues to be an embarrassment.  Setting an IPO for copy/paste tech is just one example.

I'm starting to think it's banks that are doing this...releasing all these shitty coins -.-

For years?
This means for more than two actually .. so please enlighten me and tell how many coins were released in early 2011?
The madness started in April /May 2013 and went nuts in December.

And about the thing of getting worse... no , it won't.
There is actually a limit to it. There are simply not enough money involved to keep this going exponentially.

Another Preminecoin Copy/IPO Scam, Yet the Official Preminecoin is actually a Good Coin & Great Community !