CampusCoin AMA #1 (Via Telegram)
Question 1: Is it possibility that you may increase the total supply in the future again?
Max sup. I meant
Answer 1:The maximum supply was determined based on student projections and economic factors. We are setting this right for the long term. There are not plans for increases to the total supply to occur ever again in the future. What guarantees that is increasing a supply and adding additional mining methods (PoS and MN) require a hard fork of the token. For this update to work, nodes will need to approve of the switch in essence by running the new blockchain. There will be a direct 1-1 swap of the tokens, ensuring no one loses value. If, in theory as you are proposing, we attempt to create additional tokens in the future, nodes would once again have to approve of the change for it to occur, as another fork would be required.
Thus, if we went to increase the supply again, the community could easily reject the fork by not running the changed blockchain.
Question 2:Are u in negotiations with universities about using campuscoin? And are there universities that are seriously planning to implement campuscoin in their system or campus ?
Answer 2:We have had talks with a handful of universities within the continental United States to gauge their level of interest. Official engagements with universities need to occur through the PBC (Public Benefits Corporation). The path for formal and meaningful talks through the business can take place at that level. Filing of the PBC is almost complete through Nevada.
Question 3:When are planning to have fork or hybridized Campus coin ? And will we be able to run masternode on our cell phone or is it just for staking ?
Answer 3:Plans are in motion for early September. Once the testnet is ready, the community will be allowed to participate in the process. In regards to staking on your mobile phone, this is something we are looking closely into as Apple store and Google play released statements recently stating they will no longer allow mining apps om their platform. We will make a determination on this within the next week.
Question 4:why is so much coins needed for a masternode?
when price from cmpco is 10 cent the smallest masternode coast 50k
Answer 4:Unfortunately this is one of the areas where we cannot please everyone. We have received comments in support of an increase, some for a decrease, and some think this is a good number. It is hard to please everyone but we believe this is a good direction for the longevity of the project. Like the max supply, the number was chosen based on student projections and economic factors
Question 5: Can you give a more in depth response on why book stores on campus would want to recieve CampusCoin when it is so volatile? I thought Bryan Dube's answer on the interview video of "Liquidity in the market stabalizing the currency" was rather weak. Bitcoin has billions of $s in volume and is hardly stable.
If you want my personal opinion, I think CampusCoin should derive a stablecoin from the currently volatile coin and hold its value at 1$ using some stablecoin methods in the market today (personal favorite is the "Aztec Method" used by CarbonUSD). Would allow you to have your coin adopted by universities as a payment rail
Answer 5: With over 20 thousand universities worldwide, adoption with a crypto friendly university is statistically imminent. Volatility of crypto is always in respect to fiat, and we have long discussed the devaluation of FIAT within this forum and discord. Pegging to USD is not a long term approach for stability, since the dollar continues to drop in value.
Question 6:What is the update with CPN Debit cards? Are we considering other payment networks like Pundi X to list CPMCO?
Answer 6:Yes. There are other partnership the team is looking into. The team is looking for alignment of purpose and vision in any future collaborations.
Questions 7 (from Lars via reddit)
I am not a telegram user but I have question on the masternodes and available nodes per tier. How many nodes are available at each level? I suspected 512 at T3, 1024 at T2 and 2048 at T1 but maybe you can clarify?
Answer 7:The MN slots is something we have thought long and hard about. Some believe this should be exclusive and open for a short period of time only. At this point you are right. We plan to maintain and accept as many as we can which will be estimated at the numbers you have stated. We want students to have the opportunity to be MN and make passive income while also helping us sustain a good stable coin.
Question 8:When does the app come out that’s showed in the campus coin-students cryptocoin YouTube video?
Answer 8:Our CampusCoin Mobile App and Mobile Wallet is scheduled for Q3 of 2018. It is built for maximum adoption with support for multiple languages targeting the largest demographics.
Question 9:What do you say about 51% attack on pow coins?
It it also possible after the update?
Answer 9:The beauty of adding PoS/MN is that it reduces the probability for one entity to become that powerful to achieve. If thousands of students are mining all around the globe, the idea of a coordinated attack is minimized.
Question 10:Have you thought about running adds in University newspapers or talkshows?
Answer 10:Our target demographic, collegiate students ages 18-24, are more likely to be reached using digital marketing platforms rather than traditional marketing methods. That being the case, we do plan to leverage strategic marketing outlets to continue to gain adoption. With school merely 4 weeks away, we are ready.
Expect our advertising strategy to be impactful and non traditional. We have incorporated advisors to help in obtaining decisive market penetration with academia and the student population.
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