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I wanted to provide some details on the original design and code in regards to POW and POS. The original intent was that POS would provide a reduction in POW blocks, reducing the total POW mined coins.. as stake weight increases - POW blocks decrease thus reducing daily POW coins..... the concept was that by staking, your protecting your investment and also making POW less profitable by up to 50%... none of the "profit" calculators take this into consideration...
so for everybody who wants less POW coins - start staking NOW.. coins on exchanges don't stake...but I specifically chose an 8hour stake time so you could pull coins into wallet nightly for staking
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hope everybody has wallet in stake mode.. I Noticed yesterday we didn't have very many POS blocks..
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Also did a bit of googling. OP's twitter: https://twitter.com/delta_ace_usaRecent name change of account from Dan Metcalf to Matrixguru99 on twitter account. matrixguru99 @delta_ace_usa May 16 @X11COIN - Finally a no-scam, no-ipo coin with a vision. Promotes his own coin acting as independent. you remind me of googling. if you are smart enough to google further, you will find yourself shocked by the dev resume. i think i do find out his identity. sorry. dev Hey mate, you made me do some googling when you used the word shocked. After what I found it only makes me believe in this project more! Can't wait to see what Atcsecure has made, with his background this coin should be everything he says and more! Ah the power of google.... I'm an old school programer from back in the day http://software.bbsdocumentary.com/IBM/DOS/RAT/Yeah thats me... So how is the wallet progressing, will you be able to deliver the wallet tommorow? Yes we are still on target for tomorrow nights wallet release... |
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Also did a bit of googling. OP's twitter: https://twitter.com/delta_ace_usaRecent name change of account from Dan Metcalf to Matrixguru99 on twitter account. matrixguru99 @delta_ace_usa May 16 @X11COIN - Finally a no-scam, no-ipo coin with a vision. Promotes his own coin acting as independent. you remind me of googling. if you are smart enough to google further, you will find yourself shocked by the dev resume. i think i do find out his identity. sorry. dev Hey mate, you made me do some googling when you used the word shocked. After what I found it only makes me believe in this project more! Can't wait to see what Atcsecure has made, with his background this coin should be everything he says and more! Ah the power of google.... I'm an old school programer from back in the day http://software.bbsdocumentary.com/IBM/DOS/RAT/Yeah thats me... |
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We need to seize the opportunity the dev has built...I am currently the largest known coin holder in six different alt coins in the top 30 on coimmarketcap. I have reinvested 100's of btc in the coins I hold through donations to the cause. I would like to take a long term position here but the situation I laid will happen here. I am in xc now for trading the anon news, weather or not i stay depends on if the change is made. I would like us all to make money together, but if you are not willing to build this coin into a powerhouse and in doing so make a killing...i will make a my money and leave.
i can not agree with veritasBS anymore. more anon coins are coming! we have to seize the opportunity! on the flip side, all the FAST distro POW' and then POS coins have failed too |
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I appreciate that. I just wish more focus would be put on the future development of the coin and not how to manipulate it's exchange rate good or bad.
For the record I'm burning 99.9% of my bandwidth working with the other dev's and eating/sleeping when possible |
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So what would happen if it was released with it? Should devs hold back new features until the end of pow?
Sacskate -- clearly we are talking about maximizing success here. Of course, the coin will be successful with anon tech no matter what the dev decides to do, no one is arguing against that. We are trying to offer sound advice to maximize its success and longevity. That is all. regardless of the POW question/debate, development is going to continue and new features are going to be added... a lot of new features over the next several months and then the Mobile/Android Wallet and Point of Sale integration, 3rd party payment networks.... |
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Changing the specs is fine. Just call it what it is then. I do not care what the specs are honestly. It's just that changing them for this reason is showing the world that this coin is only worried about the short term price and making a profit. If the dev really has this great anon code then it would be a shame to waste it on a coin where the community only cares about its current price. How many bitcoin get dumped daily? People continue to buy bitcoin because it is useful and has an obvious future, so they know the coin will out last the current dump. These people see dumps as a chance to get cheap coins that in a few years will most likely be worth much more. If an alt coin is only only relying on the current price it is by definition nothing but a pump and dump coin. Go ahead and change the specs, if the the anon wallet is legit it won't matter. I'm simply pointing out that by doing so the community is admitting they do not believe the innovation in this coin can survive dumps. If you think your model is the best then you should be supported some pos only coin that was distributed through an ipo.
No, it is the opposite. We are not worrying about the short term price -- but the long term price!! Veritas just explained this above. The main problem is that over 75% of the coins are going to be minted AFTER the biggest selling feature (anon tech) is released. This is going to kill the coin in the long term. People buy on news, and they sell on facts. Why can't you guys understand this? Also -- it is taking an unnecessary risk to assume that the anon feature will defy the normal patterns of alt coins. You cannot compare an alt coin's market patterns to BTC. Why not heed our advice to ensure the highest probability of sustaining a healthy coin, long term? 100% agree with this --> the biggest problem here is that the main selling feature (anon) will be released and then 75% of the supply will be mined after that. I can only see this hurting the coin long term. Or, to put it positively -- it will grow the coin SIGNIFICANTLY less than the coin would grow if total supply / block reward were reduced. I actually agree with this too This is a complex issue with no simple answer, I understand the concerns of massive mining farms dumping coins but at the same time there is a cost to produce the coin, and if they dump at a loss then it is gain for the buyer... also any change at that layer would require a HARD FORK that carries some risk to the stability of the network. It is possible a dynamic algorithm could be used on the block reward, reducing as difficulty increase's... I'd be interested in getting productive feed back - please email me at atcsecure@x11coin.org as I simply can't keep up with the thread, I'm looking for people on both sides to provide valuable info... don't email me with "to da moon" reduce the coins... |
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ATTENTION!
blackcoin is developing some stealth anonymity feature.
we have to forestall them.
no, we just need to code faster, our stealth mode will be rock solid and impressive... but it is several rev's out from the first wallet release which is still on track for Sunday Night! |
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If it weren't for our videocards mining this from the start before most people even knew the coin existed, we would not be here. I'm not sure if you guys see what happens to Pow/Pos coins after the PoW is done, but from what I see most are dead or dying except for a few. I am a miner but I hold my coins, to say every miner dumps is wrong, and to say investors don't dump is wrong. If anything is going to change I would say block reduction and longer block times if necessary.
Nonsense...the pools all dump xc for btc. You are trying to protect your mining profits on the backs of investors. Whatever...other than a few miners, I believe the community has a singular voice. The PoW should end soon. Problem is we need miners to secure the blockchain. No POS secures block chain with POW and after POW ends |
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A lot of debate for something that was just supposed to be a question, I was hoping for more productive feedback.
This coin was developed as an extended POW, that was stated from the get-go. I'd like to come up with a more productive way to weigh out the pro's and con's of reducing POW.
A hard fork will be required and as it stands now - the anonymous mode (xmode) won't require a hard fork to work. I'm looking for information feedback based on real information this change. There are so many variables at stake. XMODE will require users hold back coins if they are running xnodes, which will reduce supply as well.. its at least a 1000XC if not more for a xnode...
lets build a master list/google doc of pro's & con's.... my current thoughts are that it should not be changed
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This board, and all alts, are hopeless. Alts, and this forum, have been overrun by blatant scam artists and spoiled impatient children.
Dev specifically stated he did NOT want this coin to be yet another pump and dump scam.
Now CINNI dev seems to be poking his head in for whatever reason, red flags go off on that one.
Now there is talk of PoW reward reduction, because god forbid anyone needs to wait 3 WHOLE MONTHS for their coin to go to the moon. 3 days is an acceptable amount of time to allow for fair and even distribution of coins these days.
If a coin cannot stand more than a week of PoW (so that it is easy for a small group of people to hoard the majority of the coins and fix the price), then it stands to reason that coin has no real value or else it wouldn't need to resort to such tactics to see price rise.
Now guess what, XC is becoming exactly what atcsecure said it wasn't supposed to be, a pump and dump scam.
Fuck XC, fuck alts and their "communities" (ie, shills waiting to pass their bag along to the next guy at a higher price), I'm out.
Hope the pump and dump goes well for y'all.
this is why we are having a discussion... I'm listening to everybody's viewpoint and feedback |
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Keep in mind, we need coins set aside for the anon pool's.. which will take away available coins as well... anywhere from 100 to 10,000 per pool... first release won't require pools though
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It's hilarious what anyone want reduce block reward and coin supply. BECAUSE PRICE GOES DOWN.  Price goes down because where is no any real value in this coins, you can't buy anything real for this coins. Block reduction mean only what miners (only one type of people who make decision put some recourse in this coin) will have much less reason to do it. Without miners no one (except you who hold this numbers in wallets an waiting 'the MOON') will be interested in higher prices. Interesting discussion... one of the reasons around the original total # of coins was to provide a base of liquidity to the system because of phase ][ we need coins in the marketplace... so its a mix of too much/too little or just right :-) |
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No one would loose any coins,i'm no tech expert but i presume there would be a hard fork with the wallet release,correct me if i am wrong ofc  Yes, it would hard fork at a certain block # |
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--------------- IMPORTANT --------------- I spoke with the Dev around 30 mins ago regarding the reduction of PoW coins, and he basically said that the decision to do so would be left with the community, so it is up to us whether he goes ahead or not. DEV:I'm open to anything, but can't think about that now, too much anon work to do - if the community agree's to reduce POW them I will do MY VOTE:Reduce PoW Blocks to about 10M coins (Remaining coins still need to 8-15 weeks mining until PoS) After 10 to 33 Just PoS. The Dev is willing to do so if us, as a community, really wants this, but the decision must be taken before the wallet release.I'm in as long as it means that I don't loose any of my coins. NO coins would be lost, it will actually reduce the total # of POW blocks and switch directly to POS, the mining period would be drastically reduce to what ever block# is coded... I'd said maybe we could down to 10million max coins.... , and POS blocks will still eat some of those coins |
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I'm excited for today's progress, each day/night we move closer to the goal and as we do I'd like to get ideas on some of the BlockChain v2.0 stuff.. the nature of blockchain technology leads itself to so many options, ideas and potential distributed applications ideas are endless(encrypted [anonymous] messaging, DAC's, Proof of Ownership, gambling,etc).... Also in other news, the Phase ][ XC -> USD project is starting to take shape somewhat, with meetings being schedule with various 3rd party vendors...
great! the linux wallet will be ok this weekend? The goal is for Sunday ! |
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I'm excited for today's progress, each day/night we move closer to the goal and as we do I'd like to get ideas on some of the BlockChain v2.0 stuff.. the nature of blockchain technology leads itself to so many options, ideas and potential distributed applications ideas are endless(encrypted [anonymous] messaging, DAC's, Proof of Ownership, gambling,etc).... Also in other news, the Phase ][ XC -> USD project is starting to take shape somewhat, with meetings being schedule with various 3rd party vendors...
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who else saw teamview, would be good if we could have a few different people confirm it, not just one, im not skeptical but the rest of the troll box is, would be good to just have 3 or 4 people verify it and then we can move on
I'm willing to schedule another teamviewer session with more people at some point in the future say tomorrow night if we are still waiting on the release... again FULL TRANSPARENCY... |
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For those looking for more technical details, the linux wallet is able to accept the anon transaction and get the hash back for that transaction.. but we still have some bugs to work out to validate that transaction... once that is done we will have a working linux wallet...
Can you tell us if this is being done using nodes or without nodes? the first release will require nodes, however that will be changed in a future release |
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