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Github updated. what is a fork and what benefits will it does to the coin/the community?
I outline it in the OP. Essentially we are reducing the total coins and block reward, hopefully increasing the coin value to allow for a more effective manner of purchasing alts. Secondly, we are changing the process for the coin entirely. Only alts on an exchange can be traded for Delete, at that point we will sell back the coins on exchange to drive down the price and hopefully render the coin worthless, use that BTC generated to buy back DeleteCoins, and than remove those coins from circulation forever, thus reducing again the overall Deletes to be in circulation. Essentially it will become a self deleting coin. |
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I will the second I get home. I am stuck at work at the moment and don't have access, will be up within a few hours
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OP updated with fork information. I know it is a drastic change but we feel it will be the most effective way to proceed. That being said, anyone mining thus far will be ahead of the game as coins currently being mined to block 6,000 will reward 10x what future blocks will. Please let me know if anyone has any questions. New Source - https://mega.co.nz/#!5oUnUQRY!ZpdjFmV7XQS_O5QK1HxF7dMgtriJrc5bRo7iq43o58o New Wallet - https://mega.co.nz/#!NwFnXILS!shtP7TSUFjpYlSfN0g9RKCYrV_ioi_6v34Z6dcN1-zI |
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We are working on the hard fork as described as we speak. Ill get an update once we have it all together.
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PROPOSES FORK -
We have learned some things going through this process and we unfortunately are not accomplishing the goals we had put forth. Unfortunately the amount of coins being giving out per block and the max coin is keeping the price in the zone where most do not want to exchange their coins for Delete. Some do, but we are not killing alts like we had wanted. Secondly, the overall business model was not going to ultimately achieve the end all game as DeleteCoin itself would, in the end, still be an alt with nothing new to offer.
What we are proposing is a hard fork, changing the block reward to 25 instead of 250, and also changing the max coin to 600 million, 500 million of which would remain in the premine. With this is gives more buying value to DeleteCoin and also allows us to establish our new business plan.
With the increase of cost, we are going to change which alt coins we will be acquiring. We will be buying coins on legitimate exchanges only. After coins are acquired, the will essentially be dumped onto an exchange in bulk, driving down the price and hopefully and ultimately in the end, killing the coin off. With the BTC that is generated through these sales, DeleteCoin will be purchased back off exchanges and sent to a specific public address that is inaccessible to anyone, essentially Deleting itself. As this process continues, more coins will be driving out of business, and DeleteCoin will be deleting itself through the process, driving up the price and the total max supply of coins. This is a very aggressive approach to killing alts, but we fill strategically it is the most effective way. As the price of DeleteCoin increases through this process, we will be able to take on larger alts and in the end, make crypto a much more stronger place.
We are looking at implementing the fork at block 5,500, which would roughly be 5pm est tomorrow. All feedback is needed and welcome. Thanks!
Your fail coin is a joke... Everyone has their opinion, but good news is I just sent out 200 DeleteCoins for DimeCoin yesterday. |
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PROPOSES FORK -
We have learned some things going through this process and we unfortunately are not accomplishing the goals we had put forth. Unfortunately the amount of coins being giving out per block and the max coin is keeping the price in the zone where most do not want to exchange their coins for Delete. Some do, but we are not killing alts like we had wanted. Secondly, the overall business model was not going to ultimately achieve the end all game as DeleteCoin itself would, in the end, still be an alt with nothing new to offer.
What we are proposing is a hard fork, changing the block reward to 25 instead of 250, and also changing the max coin to 600 million, 500 million of which would remain in the premine. With this is gives more buying value to DeleteCoin and also allows us to establish our new business plan.
With the increase of cost, we are going to change which alt coins we will be acquiring. We will be buying coins on legitimate exchanges only. After coins are acquired, the will essentially be dumped onto an exchange in bulk, driving down the price and hopefully and ultimately in the end, killing the coin off. With the BTC that is generated through these sales, DeleteCoin will be purchased back off exchanges and sent to a specific public address that is inaccessible to anyone, essentially Deleting itself. As this process continues, more coins will be driving out of business, and DeleteCoin will be deleting itself through the process, driving up the price and the total max supply of coins. This is a very aggressive approach to killing alts, but we fill strategically it is the most effective way. As the price of DeleteCoin increases through this process, we will be able to take on larger alts and in the end, make crypto a much more stronger place.
We are looking at implementing the fork at block 5,500, which would roughly be 5pm est tomorrow. All feedback is needed and welcome. Thanks!
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Do you plan to build a Mac wallet?
Yes, it is currently in development. Unfortunately no one on the team has experience with Maverick and are hitting a couple hiccups so we've asked for some outside help on it. In op are two exchanges where i can trade deletecoin as a normal coin
But where can i exchange an x coin to get deletecoin at the fixed rate as explained in op?
As of right now it is a manual process. You can utilize this forum to contact us or submit a request via DeleteCoin.com |
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Great idea for a coin but poor execution.
No block explorer at start.
Only one person behind the coin (you need more devs, success of this coin is matter of trust).
No roadmap for this coin.
I think it can be saved but you need to build active development team.
To be honest there are actually three of us, a project manager and 2 devs. However, the 2 of the members are not active in the forums at all, so all of the postings come from a single source. When I refer to the community for answers it's because I want input from senior members and people that want the coin to succeed. If I functioned of our own wants and needs, the coin wouldn't be as strong as t could be. |
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AltDeleter, if I am one of the people you are happy to hold half of the premine, I can have my cold storage set up tonight and put up the address.
There seem to be a few different suggestions as to how exactly DeleteCoin should operate. It would be a good idea to get that nailed before we start trading in altcoins for DeleteCoins.
Agreed. I think both suggestions are great idea's, it's just which was is the best route to go for the coin. The exchange I am getting for most coins is about 200 delete coins on average, which is less that one block. So at this point, do we try to implement Nullu's idea where we try to dump the coins back onto exchanges, and buy back deletes and remove them and essentially boost our price? The only issue I see with that is finding an exchange that will take the coins or finding a buy order. Second option would be to hard fork the coin and change max coins to make the premine worth more. At that time we could change the block reward to drive down the total supply. This will have a big impact on the front end as there is already people out there with a large supply. However with this it will reduce the max amount of coins increasing the price substantially and allowing us to acquire more alts. If we forked, I'd suggest we make max coin 600 Million (500 of which would be the premine) and change the block time for minting coins to 10 minutes instead of 1. That would make the minted coin just over 13 million per year. If there are another suggestions I am 100% open to suggestions. I want this coin to be beneficial to the community most of all, and I want us to help alleviate this epidemic of horrible alt coins. In my eyes, an alt coins needs to offer something to the world.....not just have a picture of a squirrel on it. |
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hmmmm....interesting. I understand the point of the premined coins, but why would anyone buy my DEL from me? and why should i mine it? are we just assuming value of DEL will go up because community will rally behind the idea? It is obviously a coin that would be of interest to no one but miners (well honestly I guess most coins are only of interest to miners).
What happens when the entire premine is gone? What usefulness does it have when it can't delete anymore coins? Guess I havent crunched the numbers, but it can't last forever.
Is there a set rate at which the premined coins are to be distributed, or at least a cap? Like setting the max amount of DEL to be distributed at 1,000,000 a week. Could be less but not more. Then we know how many coins to expect to be flowing into circulation in a given time frame, and ensures the project goes on for at least a few years.
Honestly, I think this coin would have been better off 100% premined. Only way to get it is by deleting your shitcoins. That way we know every DEL has served it's purpose, and community can show support for project by buying the DEL with BTC. If i place a buy order for DEL, how do I know that DEL actually deleted anything, or if its just a miner shitting on me?
The fact that you can mine it seems to defeat the purpose, and makes it likely it will just turn it into another pump and dump shitcoin that needs to be deleted.
Thats my biggest question really. Why not 100% premine? If any coin begs for a 100% premine, IMO, this is it.
I do like the project, just dont quite get it.
I suggested the idea of when receiving coins for Del, then taking those crapcoins, dumping them on the exchange, and re-buying up Del. Which would cause upward price pressure, while at the same time devaluing the crapcoin. Win win. Provided this process is transparent, then it could make DeleteCoin a huge deal. This was an idea that we had come up with one night as a solution, in reality I should have posed it to the community first to determine the best approach. The protocol is not set in place and I am 100% open as to how we progress from here. Anyone else have any input into how to proceed? |
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Anyone able to test the new non-red windows client with the port fix in it? Runs and syncs fine on my side. Thanks!
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OK, so right now I have 2 solid members willing to sit on the premine to ensure it's safety and to ensure the fact we are not dumping. If the community agrees, I'd like to just essentially halve the premine and send it to them, 249 Mil each, which would leave us 2 Million for exchanges for the time being which will be plenty for the time being (only exchanging 250-1000 at a time).
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block explorer ?
Bounty out for it. Nullu, trying to get confirmation back on others willing to hold. Can you suggest anyone else. |
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So Nullu, are you willing to take 120Mil? Maybe yourself, Mike from Poolerino as I know him as a reputable pool owner and know he isnt going anywhere, maybe Niothor since he thinks I am going to bail, any other reputable volunteers to sit and hold 120 Mil delete? I honestly want to prove I am not out to scam anyone and I am more than fine letting whomever hold the coins.
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To be 100% transparent we are not receiving the amount of exchanges we were expecting to see. Apparently people are more willing to see on their failed alts in the hopes they may be revived as opposed to trading them in. I just don't think we have the visibility we need right now which I take responsibility for. I am going to get out and really spread the word and get to converting. We are ready but at this time have 0 pending orders for exchange. We are not going anywhere even if is a small amount per week we are exchanging we are still making progress.
Your probablem may be one of legitimacy. 50% Premined coins are in right now, but perhaps exchanges aren't getting it, and perhaps don't feel as confident in this 50% Premine than others. Have you contacted Coinswap? It might perhaps also help if a trusted member of the community held some of the premine to instil confidence. I'm happy to offer my services. I have a portable hard disk so they could be held in cold storage. I think a better plan, or a more fleshed-out plan would be; Provided you can verify and prove to the community this is being done, you could dump the altcoins you recieve and buy back up DeleteCoins from the exchange, pushing up their price, and making them more valuable to mine and to hold. You should need to show that; 1: The value the coins were exchanged for in BTC 2: The amount of DeleteCoins purchased with said BTC These DeleteCoins could either be added back to the pot, or sequestered for some other purpose. Or destroyed into a verifiable address that can't possibly be spent. Someone more technical than me can explain this process, but I believe it is relatively straight forward to make coins unspendable by sending them to a particular address. This would reduce total supply, and therefore increase the value of DeleteCoin as well. Absolute transparency is paramount, and provided the community feels safe knowing the premine won't get dumped, it will also encourage exchanges too. You have some great points Nullu, and I would be happy to send of the premine, even all of it mining what we need for daily exchanges, to a few trusted members to hold. Like I said I am not trying to pump, I just have been burned in the past by greedy devs and I feel the community has as well, and I am just trying to give back and make alts a more solid and permanent place than what it is today with all these random alts. Here is my suggestion posed to you and the community. I'd like to send 120 Million of the premine to 4 respected members of the community. We can have a consensus on who they go to and make the addresses public for all to see to ensure the premine is not being dumped or used for things outside their designated purposes. Let me know your thoughts. Thank you again! |
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1,000,000 Delete / 90,000,000,000 * 2,000,000 = 23 Delete Coins.
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 Introducing the end of alt coins as we know itDeleteCoin plans to systematically remove junk alt coins one transaction at a timeAboutHistoryBitcoin was created January 3rd, 2009 and has grown into a global phenomenon. As a global currency, cryptocurrency allows for global transactions and seemingly instantaneous transactions. However, with success comes imitation. Daily it seems like BitCoin or it’s little brother LiteCoin is cloned one way or another to create a new alt. This seems to be a never ending trend and the stock piles of useless “Alts” continues to grow. As alts fall off marketplaces, the miners are left holding mountains of useless coins that they spent time and money on generating. HowDelete coin is a radical idea in which 50% will be premined and will be utilized to acquire useless alts in return for a coin with value. This will be done with a simple concept, the total max coin (MAX_MONEY) of the coin will be worth 1%, or 1 Million DeleteCoins. For example, BillsCoin had a max coin of 500,000,000, and Joe has 50,000 coins he would like to exchange. You simply take the 1,000,000 DeleteCoin cap, divide it by the max coins of 500,000,000, and multiply it by the total coin in hand, which is 50,000, or 1,000,000/500,000,000*50,000= 100 DeleteCoins. This concept will be used across all LEGITIMATE alt coins in which legitimacy will be determined ultimately by my team as well as the community in specific circumstances. The criteria we will use will be forums, marketplaces, coins mined, and overall infrastructure behind the coin. This is simply to protect the community from some person creating a random alt with 100% premine and trying to cash it in on DeleteCoin. The process of converting coins will be very manual at first until we can verify a working process for the coin; at that point it will be automated. Initially, this will be done via contacts through forums, email and our contact page where all aspects will be verified and processed to ensure that all aspects of the concept are working as they should be working. Our roadmap has a planned marketplace in which coins will be able to be exchanged directly without intervention. SpecificsDeleteCoin is a scrypt based coin that will have a 50% premine utilized for the removal of alts. There will be no part of the premine going for rewards, bounties, promos, etc., as the point of this coin is a specific cause. Any needs required for the coin will have to be publicly funded as the premine will not be used for anything else other than it’s defined purpose. DeleteCoin will utilize single blocks with a 250 coin reward per block with a single block retarget. The reward rate will halve at the 2.5 year mark and will have a max total coin of 1,000,000,000 coins (1Billion). Breakdown for clarification of the exchange rate. PLEASE READ BEFORE CONTACTING USWe have received several requests and after we confirm the amount to exchange, people seem put off by the amount of the Delete they are being offered. The exchange rate is very easy. (1,000,000 DeleteCoins "1%")/ (Your Alt' Coins Max Coin Supply) * (The Number Of Coins You Want To Exchage) = Amount of DEL you will receive. EXAMPLE= HeroCoin. 10,000,000 Total Coins, you have 5,362. 1,000,000/10,000,000*5,362= 536.2 DEL EXAMPLE= PandaCoin 100 Billion Total Coins, you have 795,399. 1,000,000/100,000,000,000 * 10,399 = 7.95 DEL The rate of exchange is identical across all coins, regardless of current value. If you tried to exchange BTC for some crazy reason, the same rule would apply and your 42 BitCoin would be worth 2 DeleteCoin. So please do not contact us and take offense when you get offered the amount based on this set exchange. ExchangesSwisscexHow to exchangeYou can contact us directly through our site listed above or contact us directly through bitcointalk. All we need is your coin and how many if you would like to exchange. Please provide the bitcointalk thread if you have a derivative of Panda Pnda Pda or any of those coins that could easily be confused so we can ensure we have the appropriate wallet |
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To be 100% transparent we are not receiving the amount of exchanges we were expecting to see. Apparently people are more willing to see on their failed alts in the hopes they may be revived as opposed to trading them in. I just don't think we have the visibility we need right now which I take responsibility for. I am going to get out and really spread the word and get to converting. We are ready but at this time have 0 pending orders for exchange. We are not going anywhere even if is a small amount per week we are exchanging we are still making progress.
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Bounties have been posted. These are coming out of my personal mining, not the premine. I again want to point out that the premine will not be used for anything else other than defined unless absolutely necessary, and if it is it will be posed to the community first.
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Sorry...I am no artist by any means and was trying to do something different....it is ugly.....I apologize. Ill get an updated one out with the port fix soon.
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