You know that SatoshiDice was fined 30k USD earlier this year for running an unregulated IPO?

This is much different since it's hosting multiple IPO's in connection with a pump and dump group for the sole purpose of fraud. I never heard of any of these Coins or Dan Metcalf before this Blocknet thing, just not into chasing IPO's. I know the majority are scams so when people started saying its this Dan guy is doing "code reviews" for unknown coins, and linked to a pump and dump group and intense "supporters", I am more likely to believe them because if he wasn't, he could have proven all of it false on his own, without needing the help of others. He even admitted it now so how long until the feds come knocking?

Being accused of running multiple unregulated IPO's, market manipulation and fraudulent schemes totaling more than 1 million USD, that's some pretty serious charges.

I'm not really worried, if it doesn't sell before I go I'll just remove my order but I wouldn't go any lower than that.

Bump

You also need to account for oscillating block difficulties, you might wanna add in some KGW in there to level it out, sprinkle in some seed nodes while gazing out the windows... Then you know your getting somewhere, getting into the hard stuff. You pray to Genesis and the great Merkle and Nonce? Maybe you need someone to guide you, a fellow Shibe perhaps? Your journey is long.

I think Bob's lost a little support there but then again, aren't we allowed to change our minds?

I have 400k for sale on Bittrex @ 298 only large order on there and I would hold on to it but I'm going to Vegas next week for my 30th Birthday so I would prefer the extra cash.

I'm down to see how this goes, hopefully it doesn't get out of hand but definitely a step in the right direction. Do you really want to see people coming into Crypto only to lose their paycheck, college fund, pension? These people are good, hardworking people and need some guidance so the options are to do nothing, or let Spoetnik step up and form his Council.

I do have a question though, what if the Developers just outright reject the idea of being Spoetnik Approved? That doesn't mean the project is a scam but will happen as many would not want to pay for Spoetniks approval.

Hilarious, I love the logo!

Go get em' Spoetnik

If you would like to see an update on all the discussion we have had on all aspects of rebuilding the coin from scratch you can view the entire thread at http://colossuscointalk.org/index.php?topic=545.75

Here is a picture of a previous Prototype based on WhiteCoin (bug in Staking)





I have been working on a final adaption of HoboNickels as Proof of Stake Only, the problem I am having is the change from destruction of fees in Stake to the addition of fees along with making sure that it is only Proof of Stake Blocks being signed and the initial mining.

You can view the Github respository here and full changes against the original code https://www.github.com/Crestington/ColossusCoin2

Here is a picture after creating a new Genesis Block, I'm not sure the reason/reasons for this

IxCoin has done quite well over this time techwise, it's a tough ecosystem.

Maybe you understand why I have been pushing you guys a bit? Small and constant updates are probably much better than large ones every once in a while.

Have you considered a name change? MultiWalletCoin is fairly unubiquitous

Branding, color scheme and graphics tends to do much better than just the underlying tech. Look at DogeCoin, it was based off of JunkCoin with very basic code but it did very well because the idea was cute and fun and they built a large community around it through Reddit, etc.

Would you also reconsider my proposal about the Fees being increased (but not destroyed) and changes to the thresholds to improve efficiency/reduce longterm Bloat? It would add extra incentive to Stake as you would get 5% a year minimum plus extra rewards depending on the amount of volume from wallet to wallet transactions. As long as the Fees aren't a ridiculous amount it would be much better because the amount of inflation is steady and predictable at 5% a year but your reward for actively Staking and promoting use of the network could be 10-20% a year.

add multiwalletcoin to that list, hard working Dev's that deserve some recognition.

Because you never have to worry about the Coin being delisted due to lack of volume. Ever hear of MultiWalletCoin? Probably not because the Dev's openly stated they bought 25% of the Coins on the Market and their trades and are working hard on their own exchange and don't pump the Coin, yet both C-Cex (delisted) and Bittrex are going to delist them because of lack of volume.

You need full self-reliance if you want to survive.

Also, I am very proud of all the work that has been done on the forums and website so far which is a huge plus for those who want to help.

I helped setup the forums alongside Sudo23 and Heat007 as a type of 3 step forums with Public, Members, and Development Team sections along with Shoutbox and newsletters. It could easily house a few thousand members the way it's setup and makes it far easier to do all kinds of work without the noise of Bitcointalk. Further on what I'd like to include would be an open chat system such as Comet/Apex Chat along with 2FA and a higher emphasis on Security/Community.

This place is the epitome of Chicken and the Egg.

You don't want to pump the Coin because you don't want to create false interest and Exchanges want to delist because of lack of volume.

I need help with the coding, looking for people who want to help but all this Blocknet Stuff is drowning out the thread. I don't have the money to pay for it all myself, I did spend about 1-1.5 BTC earlier this year on getting a POS coin made but it was based off of CommunityCoin but the Coin Control didn't work plus extra work was needed. When trying to do further work on it with the coder, he said he suffers from massive migraines and then was hospitalized and he hasn't been active on the forums since.

I don't really want to do an ICO/IPO and hold onto people's funds without a tangible product.

A custom Coin would be best so it can be adequately scaled, we could work with the entire float with a high emphasis on Fee's.

A few points that have been discussed.

ColossusCoin is known for a large Float but 313 Billion is a very large float and can restrict trade.

What we could do is create the initial Float of 19 Billion and Swap the Coins at a 1:20 ratio which would leave approximately 25% of the Coins left over if everyone swapped over. The possible issue with this is that there may be a very small amount of people who swap over and alot of Coins left over. To do it where it is an equal swap and trade with Cryptsy and the other exchanges is that it would be likely that people would never withdraw their Coins from the Exchanges which is also bad for the network and may possibly leave no room for future funding.

Do you have a link or example you can provide? I like this idea but it is easier to visualize in practice. I also know the guy that did the ADT swap but he wanted 3k which is what he charged Zack way back in Jan when all the Alts were hitting their peak.

A new trend is coming in the Altcoin scene, why make a new Coin when you can build equity onto an existing coin?

ColossusCoin



The issues:

Multiple errors in the code, several hardforks, missing balances from BTCLTC, missing balances to Cryptsy (holds approximately 30-40% of the Coins and halted withdrawls)

The Benefits

The name ColossusCoin

Website http://www.colossuscoin.org/

Forums http://www.colossuscointalk.org (Mod)

Facebook https://www.facebook.com/Colossuscoin (Mod)

Twitter https://twitter.com/Colossuscoin

reddit http://www.reddit.com/r/ColossusCoin/


Possible solution?

I am thinking a full swap for a new Blockchain would be best, off the exchanges for a period of 3-4 months but that would involve extra coding. I'm not confident in myself that I could do it all on my own since I also work full time and less than a years worth of coding experience but I do have a few prototypes to work with along with a lot of ideas, resources and guides, contact with several exchanges.

What do you guys think? there is more available than just this bit and how would the Coins be handled? What to do about exchanges so that it can remain Proof of Stake only without Exchanges becoming a risk (eg. Moolah)


UPDATE FEB 3, 2014

I am closing this thread since I don't want to have multiple threads cluttering up the forums and confusing everyone as we progress into the final version. All further discussion will be moved to our launch thread at https://bitcointalk.org/index.php?topic=941433.0 but keeping this thread as reference to the active progression of the project.


UPDATE NOV 6, 2014

I will be away from Nov. 10th to Nov 20th, heading to Vegas for 30th birthday celebrations. The source here is provided for final improvements. I have added 350k Multiwalletcoin to the development fund and also have another 150k to add as well along with some Mary Jane coin that was given to me. I have contacted a couple people for quotes and will also try to provide a more comprehensive list of funds available for the bounty plus a teaser video which is one of many promotional videos we have ready.


UPDATE NOV 9, 2014

fire rabbit provided a few promotional videos for me and said it was alright if I hosted them here, he does great video work for Crypto and did some work for LiteCoinDark as well.

Here is part 1 of a mini-series to help get people more interested in the ColossusCoin project.

https://www.youtube.com/watch?v=fRHpZcIqb6I&feature=youtu.be

UPDATE JAN 3, 2015

ColossusCoin 2.0 is now LIVE and Staking

Proof of Work has ended and is now Proof of Stake only

Sourcecode: https://github.com/Crestington/Colossuscoin2test

The Specs

Algorithm: X11

2 minute Blocktime

Proof of Work

190 Million per Block the first 100 Blocks
1000 Coins per Block from Block 100 to 7200 (10 days)
0 Coins per Block after Block 7200

POW ends after Block 7200 (approx. 10 days)

Proof of Stake

7 day minimum age
28 day maximum age
8% a year inflation halving down to 4% every 64 times difficulty (8%, 6%, 5%, 4.5% etc...)
Maximum Stake reward is 25,000 (max block size 4-16 million)
Fee is 20 Coins per 1 kb transaction (sending one transaction up to 6-7 combined inputs)

The reward is Stake Reward (up to 25,000), plus Fees included in the Block

Stake Split threshold is 10 days
Stake Combine threshold is 200,000 Coins

This means that if your Coins Stake before 10 days, it will split your reward into 2 equal sized Blocks regardless of size. If a Block of Coins Stake after 10 days and are less than 200,000, it will combine the Coins and Stake reward into one Block.

Coin Control

Coin control lets you view your transactions and the amount of Coins in each Block you have along with it's confirmations.

You can enable it by going into "settings" then "options" and under the "display" tab, choose "display Coin control" and apply the changes.



Then you go back to the Wallet and go to "Send Coins" and you can now view a list of all your Blocks and can sort it by size, confirmations or addresses.



[/quote]


Staking reward changes and planning a hardfork

I am looking for some help with reward changes and creating a hardfork. There are two bugs here in which need to be resolved.

Bug #1 Actual reward for Staking is almost always the subsidy limit of 25,000 Coins which would lead to an actual amount of inflation of approximately 6 Billion a year.

Bug # 2 Fees are doubled in the Proof of Stake reward. When a fee is collected as part of the transaction, the Proof of Stake Block that confirmed the Block receives the Fee reward twice.

ColossusCoin 2.0 is currently in Private Beta, we can offer Bounties for upgrades and final tweaks to the rewards

I think Dan being Shakezulu is very unlikely, Shake seemed more into it just for the interest of coding and was generally a nice guy. The question is how many of these accounts that are posting are really just the developers going out and trolling on other accounts and pretending it isn't them. The writing style of all these accounts are nearly identical and all posting at the same time so it would be just 1-2 people that are managing all these accounts and if you use servers, you can log into 5-6 accounts or more at the same time through Tor so you would post on one, switch to another and post right after and so on. Buy or build a bunch of accounts and Wa-La you have your own manufactured group of *trusted* people defending your cause.

Good luck trying to sue someone over their opinion, it makes it appear WAAYY more credible where people representing Blocknet troll with a secondary account because of allegations of severe market manipulation and insider trading.