How much of IPO shares been given out?
50% for preinvestors. 33% for ROOTcoin-holders. No. no. I think some of rootcoin investor has not get their coins. thats correct. we re still transfering coins to the investors. so far +80% have been transfered to the investors. |
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Is nobody else concerned about some of the strange problems so far with this coin?
The "official" pool is just an IP address.. and it seems nobody (or very few people) have received payouts from it so far. What's going on with that?
There's a few things that just seem a little "off" so far. Hope everything can be sorted out quickly.
hey MineP.it. any issues with your pool? the official pool is just an IP-address because we haven't set up a subdomain on rootcoin.co. why is that strange? We could easily add a subdomain with A-record to our server. would end up in the same. As for the official pool. As long as somebody has mined & gotten successfull shares, there is no issue and payouts are working. Please join IRC, we have a lot of users, also still mining there and getting payouts. I had an issue with couple of rentals. they started mining at the preset diff of 64. but after some time (due to too many stale shares, the worker got banned). and in another case we tested a 0.5GH/s rig on the official pool and it disconnected due to "too low diff". So the issue is not in the coin itself. like already posted before: feel free to check the sourcecodes if you re concerned. P.S. if the community wants the official POOL to be shut down we ll do that. no worries about that. |
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How much of IPO shares been given out?
50% for preinvestors. 33% for ROOTcoin-holders. |
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@bista I have a question of profit model of rootEX If rootEX is a popular exchange has a daily volume about 100BTC.(Mintpal is ~300BTC now) with trade fee ~0.2%, exchange can earn about 6BTC per month. If I buy 10BTC, 1% shares of root-share, I can get distribution 0.06 BTC/month. That means it spends me 160 month to break even?  exactly rootex is not profitable. i wouldn't invest in rootex. it s not only the dividends. rootEX is going to have an ad-system for altcoins just to name one additional "profit-generator". and every income from the exchange will be split upon shareholders. I also adapted the rootEX-share amount per BTC due to investors request. and please keep in mind that the users is ALWAYS free to switch back to ROOTCOIN or anyother currency within the rootEX-share market. regards, bitsta but how much revenue are you expecting to generate from this. you would need atleast more than 1000 people for this to work as the basic plan is CPM which people buy per 1000 views or CPC per click which are more profitable. what things would be advertised would you allow other coins to advertise, or is it for the marketplace. im sure everyone who uses the internet ads are not the way to go when your new. people don't like ads even on websites. its annoying. wouldn't it put people off. no it wouldn't. users will have the chance to choose between different modes. There will also be a pro-membership with ads deactivated. We re only going to allow very few and rare ads-sections on the exchange. It will mostly be available for other altcoins and adSense. |
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@bista I have a question of profit model of rootEX If rootEX is a popular exchange has a daily volume about 100BTC.(Mintpal is ~300BTC now) with trade fee ~0.2%, exchange can earn about 6BTC per month. If I buy 10BTC, 1% shares of root-share, I can get distribution 0.06 BTC/month. That means it spends me 160 month to break even? exactly rootex is not profitable. i wouldn't invest in rootex. it s not only the dividends. rootEX is going to have an ad-system for altcoins just to name one additional "profit-generator". and every income from the exchange will be split upon shareholders. I also adapted the rootEX-share amount per BTC due to investors request. and please keep in mind that the users is ALWAYS free to switch back to ROOTCOIN or anyother currency within the rootEX-share market. regards, bitsta |
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When will pos start works?
PoS will kick in at block 7k. mmm... and when the trade is up? trading on exchanges will be available within 48h. |
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rootEX-shares have been adapted due to investors-request. (-50% of initial price)the new specs are stated below: ANNOUNCEMENT  It's a pleasure to announce rootEX, a new, austrian-based, cryptocurrency exchange, with dedicated/self-owned hardware and a professionally designed backend-framework and security-architecture.  is a 100% share-based cryptoexchange with a unique distribution and dividend-payout system. We will launch two independent investmentrounds offering a total of 50% of the rootEX-shares. 17% will be held for the development-team and future fundings. And 33% of the rootEX-shares will be claimable(swap)
by ROOTcoin-holders valueing 3.000.000 ROOT with 33% of the rootEXchange.rootEX-shares will secure an monthly dividend-payout to the holder in form of the equivalent %-holdings of the rootEX-profit + giving the investor the chance to always swap back to pure ROOT-coins. The public rootEX betastage will launch mid-end october. A closed beta-stage will launch end september. Every rootEX-investor will get an exclusive access to the closed beta. A total of 1.000.000 rootEX-shares (=100% of rootEX) is available. 10.000 rootEX-shares = 1% of rootEX. PM me if you want to become a rootEX share-holder. Please don't post any tx-id's and or investment-related informations in the thread as this is against the forum-rules. SHARES:1st investment-round: 30% of the rootEXchange are available for 1 BTC per 1500 rootEX-shares (0.15%) minimal investment amount = 0.1 BTC available: 283.500 rootEX-shares | already sold: 16.500 rootEX-sharespublic investment BTC address: 1M1Ei3BvW7WmRA1CmQeWS1Lwo7HdKBVd2V paid shares: check OP thread
2nd investment-round: 20% of the rootEX-shares are available for 1 BTC per 750 rootEX-shares (0.075%) will start after 1st investment-round. Layout-TEASER:  P.S. the values (i.e. trading prices, etc.) are just pseudo-values.
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When will pos start works?
PoS will kick in at block 7k. |
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@bista
how about bitKEY?
when can we get this feature, which will certainly increase intrinsic value of rootcoin and RootEX
we re still working on bitkey. the non-gui version is good-to-go. beta-release planned for this month. do we have some screen shots?  if not, will just waiting for the beta test now. i ll release a GUI-teaser mid next week. |
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How about start shares selling after rootEX debut? giving investors more credibility is seriously a matter to be considered. and bitKey is also a value-added feature to rootcoin and rootEX.
the cheap price is thought to be a benefit for early pre-investors. Like RootCoin and the implementations in its technology, also rootEX, espescially the infrastructure like dedicated HP servers and fibre-net connection at the vienna backbone are prerequirements which are going to be funded with the project fundings from the preinvestment-stage. and like rootcoin, also rootEX-shares will at least be valued with the double - triple of the introduction price as soon as they re sold out. |
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@bista
if rootcoin holders "swap" for shares, are they free to swap it back?
how about drop 33% to all rootcoin holders at certain point of time and allow them free-trading on rootEX.
hey cyberhacker, the swap will be realized on the exchange. swaping back will be depending on the marketsituation and the price @ the time of "backswap". all ROOT-preinvestors (COIN and rootEX-share) will benefit from their support in this project. and to just drop the shares to rootcoin holders would undervalue the exchange & coin. swaped coins need to be frozen to not undervaluate the market. |
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is a 100% share-based cryptoexchange with a unique distribution and dividend-payout system. We will launch two independent investmentrounds offering a total of 50% of the rootEX-shares. 17% will be held for the development-team and future fundings. And 33% of the rootEX-shares will be claimable(swap)
by ROOTcoin-holders valueing 3.000.000 ROOT with 33% of the rootEXchange.Hi, What will be done with remaining shares if not every ROOT holder will swap their coins for rootEX-shares? well with swap i mean putting the coins into a "frozen" (not staking) mode and transfering the rootEX-shares to the ROOT-holder. therefore the unused shares will stay untouched and will always be reserved for the "unswapped" ROOT. the dividends will be collected in a public ROOT-share ledger which will be split upon to the l8r appearing "swappers" (ROOT-holders). So every ROOT-holder is free to decide when he/she wants to become a rootEX-shareholder. i think this time-factor is unique. It will bring some benefits and hopefully motivates ROOT-users to hold their coins and not only see a BTC-investment in ROOT. And most of all: to think outside the box... P.S. i ll release more detailed informations and technical specs in the next days. |
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@bista
how about bitKEY?
when can we get this feature, which will certainly increase intrinsic value of rootcoin and RootEX
we re still working on bitkey. the non-gui version is good-to-go. beta-release planned for this month. |
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Can anyone confirm payout from the official pool? Ive had 30mh on it since launch and still no payout  whats the ROOT-ADDR you used? yes i can confirm it working and others in IRC confirm it too. Dear Bista, will you control the listing of alt coins on our exchanges? i am fucking sick of thousands of altcoins listed on exchanges. especially when they are so obviously bullshit. no. it will be a multi-voting system. 1st: rootEX-shareholder 2nd: rootEX coin-analysis 3rd: click-votes |
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Can anyone confirm payout from the official pool? Ive had 30mh on it since launch and still no payout whats the ROOT-ADDR you used? yes i can confirm it working and others in IRC confirm it too. |
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WTB ROOT @ Honest price, 8500 . pm.
Ops, sry man. no problem. i ve set up a thread: https://bitcointalk.org/index.php?topic=753706if anyone of you wants to trade with another user you can always contact me for escrow. AND PLEASE BE CAREFULL . there are a lot of scammers out. regards, bitsta |
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Hi folks,
use this thread for ROOT/BTC trades between users.
i can do escrow if needed.
regards,
bitsta
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WTB ROOT @ Honest price, 8500 . pm.
please post sell/buy offerings into the trading-thread. i will set up another official trading-thread if you want. cause otherwise we ll end up in chaos. regards, bitsta |
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bitsta, I've been mining on the official pool for over 13 hrs with 40MH and have received no coins, there is definitely something wrong. Am I wasting my hash?
yeah. you re wasting you re hash there cause that pool is not finding any blocks with that lil hashpower. join the official pool or suprnova-pool. they are finding a lot of pools too. Did you read my post? I've been on the 'official' pool for 14 hours now. I'm out... sorry AlexAtom, i ve mixed stuff. i thought you re talking about minerspool.. the official pool is finding blocks and payouts are working. Can you pm me your rootADDR you used for mining? i ll look it up manually. Similar issue, I started mining on the 'official' pool almost as soon at it went up, I got my first payment of root at 02:09 UTC and my last payment at 03:33 UTC 8 payments in total during the time but continued mining on the pool all night, until about 10 or 11 UTC but haven't had any other payments. Did the official pool not find a single block during all that time? And thus all my shares completely worthless. I know I continued to contribute shares, my miner would have failed over to another pool if that one had continued to go down and I can see from statistics that it never worked on any of my other pools during that time. A lot of people are saying they haven't received anything from the official pool at all, I suspect they joined later than I did, so it with seem that there's some kind of fault or backlog in sending out payments. It definitely is not all fine. Edit: Unless the difficulty suddenly jumped up sooooo much that my last 7 - 8 hours of mining earned vastly less than my first 2 hours, and all earning from that time are under some (unpublished) minimum payout threshold. hey geekeh, i ve checked a couple of mining-ADDR and seems like therir balances are under the min. payout. i ll adapt it tonight so that all users get more regular payouts. at the moment the min payout is 10 ROOT. i ll set it to 5 ROOT. Hey Bitsta, Could you plz check my message, I had a few 40mh/s rigs running all night on the official pool and also received no payout. Cheers, bastro hey bastro, i ll check it for you. |
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