Rozu stated a while back that he was not involved with the creators of ox-trade.com.

Here's an excerpt from when I asked him about it:


I did send about 500 million Pennies to their site and everything transferred smoothly, so at least their wallet is functioning. But whether those CENTSQW remaining numbers are faked or not still needs to be verified.

The POS/POW part is correct. Pennies is based on YACoin, just with the decimal places removed. Originally, this was just done as an experiment, but it caught on a bit more than expected.

However TEKcoin does actually have a higher interest rate than Pennies. While the massive stake part was at one time true, it became a major issue and so was fixed at the start of the year. Basically, there was a misplaced decimal place in the code determining stake, and so the money supply was compounding exponentially by orders of magnitude above anything reasonble, until Pennies ran the very real danger of being completely unmanageable. The stake issue was fixed with about 40 trillion coins already minted, and if nothing had been done, there could easily be hundreds of trillions is not more Pennies in existence now. The size of transactions presents a problem for exchanges as well, all the more reason why the stake needed fixing. Now, stake rewards are as follows:

At 9 days*: Original transaction amount * 1.0009 = approximate returned amount.
At 10 days: Original transaction amount * 1.001 = approximate returned amount.
At 11 days: Original transaction amount * 1.0011 = approximate returned amount.
At 12 days: Original transaction amount * 1.0012 = approximate returned amount.
At 13 days: Original transaction amount * 1.0013 = approximate returned amount.
At 14+ days: Original transaction amount * 1.0014 = approximate returned amount.

*Inputs become available for stake after 9 days.

Also, as a consequence of the massive stake, the POW part has sort of disappeared as a significant feature of the currency. The total amount of coins able to be generated by POW mining is 1 billion. When compared to the total number of coins in circulation, this is almost nothing. So, nobody really mines Pennies anymore.

So, it looks like the devs over at cent-help.com finally got their CENT-based market online. It's a little confusing as the English is hardly readable, so if anybody could accurately translate the Chinese, that would be really helpful. Here's kind of the gist from their explanation:

It seems they created local currency called CENTSQW which is used as the medium of CENT exchange. In order to trade Pennies, you must first purchase CENTSQW (each worth 100.000.000 Pennies), with some external curreny (BTC, LTC, XPM, DOGE). There are 60000 shares of CENTSQW that can be purchased, which equals something around 3x the Pennies market cap. These can be purchased up until May 30th (5-30-2014). I think the point of all of this is to boost the value of Pennies by injecting real worth in the system (in the form of other these other currencies). In other words, if the investment round for CENTSQW works as planned, there will be an floor (albeit very synthetic) below which none of the investors will be willing to sell their Pennies. They say they are trying to hold each share of CENTSQW at a value of 1 LTC. So the price rises, people buy CENSQW from initial investors, and the price rises more. The whole exchange idea seems somewhat Ponzi-ish to me, though they said if the exchange was profitable, they would try to buy back the shares from the investors. Also, they said they will try at the same time to create real value by developing a CENT-based store and ad network, which if done properly, would be amazing for Pennies!

Anyway, that's what I understood. Any thoughts about this platform? Also, if you want to sign up for their site, feel free to use my referral link Ox-Trade. Thanks!

It failed on me initially as well. Try rebroadcasting the transaction (resendtx txid in Command Line Banking). My transaction went through after I resent it. Now my Pennies are resting safely at SwissCex, so it looks like the wallet upgrade worked!

Still, the failure to send seems like a problem if it happens consistently. Is anybody else having this problem?

I'm in complete agreement with the comments above. We need some verification both of your credentials and the code before we can even think about switching to the new client. If the whole community is not fully trusting and willing to move in this direction, we'll just be forking it yet again, which is the problem we've had all along.

It is absolutely necessary that first we get either The Catman or Petr1fied to verify the quality of the changes made, as they are really the only authorities around to instill confidence in the changes. Furthermore, The Catman should officially hand over the reins to make this seem more legitimate, though if he is unavailable for contact, then this might need to be discussed more in depth.

Also, just a couple of questions:
1.) Are you associated with the group over at http://user.cent-help.com/? If not, and they roll out their code changes tomorrow, we'll have an interesting time sorting through all the code 
2.) Do you have the time and ability to actually manage the code if given that responsibility?

Sorry for the skepticism; I really appreciate your time and effort in support of Pennies, and I think you have some great ideas. Just trying to make sure those changes won't run us into the ground any further 

Since there seems to be a lot of information floating around about CENT, and several exchanges are considering adding it, I went ahead and compiled a list of existing Pennies services available on the web. Let me know if there's anything useful I missed. Hope it helps!  

EDIT: Added Pennies addition request from the CoinedUp subreddit. Please go comment and upvote if you are able. Based on the precedent of other coins, if we can get in the range of ~50 upvotes, we should be able to get Pennies added.

---

According to JimmyS here, the Cryptsy 24-hour API tops out at 1 trillion.

The number did go up to 50,000 earlier, I think when the price was at 5, though I don't know why the price would affect cumulative volume.

At the current price, Pennies would be number 17 at http://coinmarketcap.com!!
Let's keep this going. We'll be ahead of Novacoin in no time!

On the blockchain that you are currently on, I really don't think there's much you can do to get them back (assuming the transactions have been confirmed). That's just the irreversible nature of cryptocurrency.

The way I see it, there's three ways this whole situation could be resolved:

1.) Cryptsy starts working with The_Catman to get us all on their blockchain, in which case all missing CENT sent since the fork will be recovered.

2.) We stick with the current block chain, as everything aside from transactions to Cryptsy seems to function very normally. Unfortunately, for Cryptsy,there will be a considerable mess to clean up on their end, since the CENT/XPM market has been open for more than two weeks on a forked blockchain. There's going to be plenty of people extremely happy that they got XPM for free, and just as many wondering what happened to their Pennies (basically, I go and trade my pennies for XPM on this blockchain, the blockchain switches, and I have all my pennies back and they guy I traded with has nothing and no way of recovering his money).

3.) We end up on yet another blockchain separate from Cryptsy's and the one you are on. Considering the amount of confusion as to who is on what chain, this might be a possibility if you are not at present synced with the standard chain in use, say a month from now. In this case, you will also recover you Pennies.



Yesterday, The_Catman sounded rather confident that we are not on the same chain as Cryptsy. This would seem reasonable, since a fork would most definitely cause a distinct break in the system, and prevent transactions from going through. I'm not saying there aren't code issues (idk if it's even relevant, but The_Catman has not addressed dragon695's question about it), just that I don't think we're synced with Cryptsy. Please correct me if I'm misinterpreting something.

I'm really interested to see this coin get off the ground. If the whole rarity gimmick works like it did for 42, there's going to be a lot of excitement surrounding the launch. Everything appears primed and ready for blastoff, so I'm looking forward to some cosmic results! (apologies for the puns)

9asPjK6UpcTs5DQg431sdpMRAuBZQz8vmi

Thanks a bunch!

XVvea63qxHt5ry8rUbvtki3aWh4hBKgvFn

Thank you for the giveaway! 

Did you check your spam? That's where my activation email ended up.

This is what I came up with. I am not a designer and so it might be a little rough around the edges, but I still thought the idea had some merit. If selected, I would be happy to donate most or all of the bounty to someone who would be able to make it a workable design (because this is as far as my design abilities extend  )

Anyway, when creating the design, my three main goals were to make something simple & recognizable, to include the quark element of the original design, and to present it as a currency. I think it turned out alright. Hope you all enjoy!

*Also, I have been having some problems connecting to the quark forums recently like several others have already mentioned. Hopefully posting in this thread will suffice for the time being.

http://imgur.com/qvZFt9R

I think that's a really great start for the website - clean, simple and attractive. The only complaint I have is the whole "Cent coin" thing. I don't really like the sound of that. I would suggest keeping just Pennies or Cent (maybe something like the CryptoPenny). We don't really have to follow the syntax of every other coin in existence, especially as "Penny" and "Cent" are already well-known references to currency/coinage.

Also, I think we as a community need to come up with a definitive logo design and stick with it. I like what you did with it (much better than the straight-up penny imho) but we need to have something that is consistent for Cent to be recognized by.

Eq7S1QCtAAy7y7Hatrpn63eJaLFbo46oEU

Thanks for the giveaway! These nickels are more valuable than the real ones

DD3i3sJkfTR4WoUwpLd7vN2QjfgZMPGNF7

Completed all three tasks as instructed (@Emerov1)

Thanks so much for the giveaway!

DD3i3sJkfTR4WoUwpLd7vN2QjfgZMPGNF7

Liked, followed, and Tweeted as requested (@Emerov1)

Thanks for Doge!

DD3i3sJkfTR4WoUwpLd7vN2QjfgZMPGNF7

Much thanks

In case the Doge hasn't run out, here's my address. Thanks!

DD3i3sJkfTR4WoUwpLd7vN2QjfgZMPGNF7