Sorry that i am so slow in replying to all of you.

I have to wait 360 seconds every time, and then this springs up all the time:

An Error Has Occurred!
You have exceeded the limit of 5 personal messages per hour.

Located in Canada (though i am not natively from there, as you might have guessed by my poor English)
I can post a screenshot of the client, once it is finished.

No, they dont contradict. It means, that the demand for investment will be way higher after the release of the WP. So if in the first week 10 BTC are invested and 20 BTC in the second, and 60 in the third. That means that per BTC you will be getting the least amount of NEONs in the third week.


We all have at least the masters degree and two of us work at the university right now. It is a very good university but unfortunately not MIT.


Normally i will convert at the end of the day but dgex is having major problems. So i will delay that. Hopefully for you the reates will rise in the next days. Do you think the end of the investment week will be a good point to convert? It is up to you.


We will provide details starting with the third week, we dont want to rush anything. At this moment we want to stay anonymous.


You can send 0.001 BTC at the end of week two and participate in the beta testing an then decide if you want to invest.

Thank you sir!

quote author=Anon136 link=topic=400356.msg4335869#msg4335869 date=1388970010]

if they are qualified, talented and writing all new code from the ground up, i dont see any reason not to support more competition. now just to figure out if they are qualified and talented.
[/quote]

 


Damn. This leaves us 7 generations behind  


Just a simple explanation now, the details will be in the Whitepaper.

Basically the node will create a history that saves the blockheight the node had at each moment. After X blocks of the network reaching a consensus on right chain, it gets checked how many % of the time you were on the right chain. Thats why it doesnt matter if you are on a fork for a couple of block, because you will be on the right chain for a high percentage of the time. This involves some kind of luck, but as noone can influence this, it doenst matter.


I have discussed this with my peers. If the volume of the IPO stays that balanced and high, we will not use this variant.


If you want to upload a 100 GB file, you need someone to find that is willing to distribute the file. As this system though to be used for smaller files, i doubt you will be able to afford that kind of space
This is will be not like bittorrent, the file will be online to be downloaded from the network.
BUT you will be able to send a file directly to a client too!


The first few months will be paid by the IPO funds. We have enough time to do that. But from the launch on , we will be searching for additional devs to join our team.


We did decide not to regulate the IPO. If someone wants to get a huge stake, he can game the restrictions anyway, so thats that.

If this gets out of hand and someone tries to get 50% of the presale, than we will have to intervene and send back part of his investment, but this will only happen in rare cases.


@filestorage. The system works in groups. Basically the file will be uploaded to a group and everone can join the group and get fees once files get added to it. A group can decide to post an offer to keep the files for ever, or just 10 days. Totally free market there. If the group fails to deliver uptime, the fee gets reimbursed in parts. (this was actually pretty tough to solve, but we came up with a good solution for this)

@messenging. You can have your client post a notification to your screen, or even send an email to you. Oh and it is fully encrypted and can only be decrpted by the private key!

If the IPO goes well and we stick to his designs i will gladly pay him more! In the opening post i advertised 0.05 BTC for the logo...
Also if i need Icons, business cards, or other material, i will pay for those as well.

Good morning everyone!

We received a very neat design suggestion and decided to go with it. The creator will be awarded 0.2 BTC or 0.1 BTC and 0.1 BTC worth of NEONs. His choice.

Which one of those do you guys perfer?








I also updated the investor list and will now answer the questions asked per PM and in the forum, but this takes time because of the 360 second newbie jail!!!
Also i am currently in the university, so cant answer 24/7 now.

I will leave this one also to the programmer Nr2 for tomorrow if you will prefer a advanced explanation.


@ money, Do we need it? Not really. Up to now we just coded in our free time after work and university. Would it be nice to get some reward for the hard work and some funds to keep working on the code? Yes, definitely.

@XCP dev (counterparty protocol) I honestly have not read anything about this until now,but I will look into this. But don't get your hopes up, the distribution system and its implications are pretty much set in stone, as we believe that it is working astonishing well.

@4 cryptos. Wow, people will find everything to complain about. Who gets hurt by more choices??? I dont get it.

@ Forging. No, i never said 1 million NEONs are needed to start forging. You can start forging with as little as 1 NEON. But in the first year IN ADDITION to the normal forging, the simple running of a master or normal node is rewarded. So basically you can open an account and just run the server. Now every 24 hours you will get a reward for that. If you also have NEONs on this account you have a chance to forge a block and receive additional NEONs.

@Spam on the network. We have a very nice system for that. To start a chat you will have to pay the minfee from then on if you stay at a given rate of traffic per minute, the chatting is free.  If you want to upload or transfer files, you will pay per siye, and this rate per kb or mb is set on a traffic marketplace. This works nicely in the testnet and is discussed greatly in the WP.

@ priority messages. Well as the start of a message always costs the minfee, (but that fee goes to the forger) you wont get spammed anyways. We have not talked about paid messages, but you can always send someone NEONs and add a private comment to the transaction. The length of this comment depends on the fee size and is only decrypted by the person who has the key to the account.

@ idea, we will have to discuss this. Sounds intresting nonetheless

At all, i will go to sleep now and i will answer all questions after the post of panonym tomorrow. Sry guys, need some beautysleep.

@2 http://nautilus.fis.uc.pt/st2.5/scenes-e/elem/e01000.html

@1 Right now we are. Well basically, this system will be very powerful. There will be a distributed filestorage and feature to send a file directly using the chat connection to another alias. We can not and do not want to control what that is being used for. And in the end we dont want to be the ones that get fucked by the law because we enabled people...


see above. You can ask all the questions you want and we will try to find time to answer all.
I will tell programmer Nr2 to write something about that tomorrow. He wrote that part (also in the WP)


That was a joke. I was hoping someone finds it. Everything is superior (well we try) so we decided to even put 2 times the :: into the header. hahaha


When what? The IPO for the first week is already running.

@NXT well, atleast now they arent

@nodes If you read the OP carefully you will find the word MASTER NODE. The reward scheme will be altered that a master node will earn a substantially higher reward. When you fire up your node or master node the server will check if your system is capable of running that software up to the requirements. We have actually found a pretty clever system to detect if the nodes where running in a hostile mode or not.


2nd gen in our opinion is just the description for a newly coded currency and not a BTC or LTC clone.



@distribution. This system will make the network way more stable and resistant against attacks then the NXT network, that had a pretty hard fight because there was simply no incentive to deploy nodes BEFORE the attack.


@scrypt sucks. There is so much wrong with POW....




@NXT coding. I am not mocking their idea. It is great basically and was an inspiration. I was mocking how unprofessional their source code is structured...


@perfekt. By no means is our code perfect, also our solutions might be superior to all the existing currencies, but the crypto world is changing so fast that we might have to fundamentally change something very soon. We will see.

But yeah the features will be awesome

@POS, yes the stakeholders will forge the majority of the fees distributed, but this will motivate them to help the network. If they dont want to get diluted they have to forge. Thus leading to more nodes and a better network security.

@mocking NXT. It was a LOL just from the viewpoint of how the code was constructed. If you look at the code of a regular programmer you will see a constant structure with many comments  ect. BCNext just wrote one big WOT so to say. It works for sure, but isnt pretty  Also i personally dislike Java, but that is personal.

@ investing in the first week. Well, lets put out example numbers: In the first week 5 BTC are invested. In the second 10 BTC. And after the code release suddenly 50 BTC are invested, you can clearly see that the number of NEONs per BTC is extremely different.



@aliases. Well you can do that. But i dont see the point really. You only have to pay the minfee to create these aliases on one account. That is 0.01 NEONs at start, so basically an investment of a couple USD to register 10.000s of aliases...


Edit: im gonna answer all questions and accusations, but the forum is forcing the newbie jail on me (360s)

This is actually pretty clever. If the initial stakeholder dont want to get diluted, they HAVE to setup nodes with their NEONs. This helps the network a great deal. Also there is a huge chapter on this in the whitepaper.


Our exchange will go live BEFORE the launch date! We will also write a guide on how to setup an exchange for everyone, because we think that a monopoly like dgex.com had is really bad longterm!


After this the forging reward will only be from the transaction fees. If everything takes off, there will be enough transaction so that it will be desirable to keep the nodes running!

The hash is also called the transaction ID. For every coin i posted the link below it, where you can find it. But you can just send me the amount you sent and the time, and i will find it out for sure.

@logo: well, I know that marketing is an important thing, but I dont think that the success of the currency is only depending on this. We try now to focus soley on the code and the client and not too much on design. But we offered a bounty nominated in BTC in the first post, if someone is good at designing!!!!

After someone requested NXT and XPM as payment options, I added them to the first post!

You can indeed get a free alias for each account you create, and AFTER 1 month you will be able to transfer them for the minimum fee. So tell me exactly how you profit from moving the free alias instead of just buying one for minimum fee

@source argument. The new nodes will work coexisting with the old ones. Only critical updates will post a need to be implemented by all network participants. If that situation arises we will obviously post the source with the release!
Also after we reach a good amount of traction, we will be completely open source!

@IPO, in just 2 weeks the whitepaper will be downloadable. And we are running tests with very big data to stresstest everything. And everything is documented and will be in the attachement of the WP!

Once again, if you want to wait for the whitepaper to invest that is fine. There is one whole week left to understand the paper after the publishing to invest.

If you like NXT, you will love NEON.

It incorporates all its good features, and offers many improvements and a far superior distribution or the units.

Also the whitepaper is coming along well and many of the features are already mathematically proven. (12 pages and counting atm)

if you read the announcement carefully, you will find that this currency is NOT only intresting if you invest, but you can also participate if you deploy nodes, just like mining. So to participate, NO investment is needed.

We are proud to announce this epic new crypto currency that will drastically change the way ecommerce payments will be processed.



Neon: the Greek analogue of “novum”(new)
Like Neon being a noble gas, Neon the currency will be a noble currency!

We are a team of 3 programmers and came together 2 months ago to discuss the creation of this new currency. We looked at all the existing and announced coins and currencies and identified their biggest flaws and advantages. Within this currency we tried/try to combine the best of their features, eliminate the bad ones and add some totally new features.

POW or POS?

The problem with 100% POS like ripple, NXT and co is, that the distribution happens only at the start, after this the company/stakeholders are the ones responsible for this. This cannot be the best solution for this problem. But we also have to admit that the POS has enormous improvements over the POW resource hungry processes.
We thought for a long time and came up with an awesome solution to this fundamental problem. Along the way to finding a suitable solution we had very big obstacles to clear, but we are confident that our solution is superior to all existing ones.
Solution
In the genesis block all ever existing NEONs will be created. We split up the total existing units into 4 parts. 2 parts will be distributed within this IPO. One part will be sent into an account that will spend 16(16 first year,12 second year,8 third year,4 fourth year) NEONs per minute as fees. (Every full minute, the account will make a transaction, where it sends 0 NEONs to the genesis block using 16 (12,8,4) NEONs as fee). This will go on for about 4 years and 21.024.000 NEONs will be distributed to the nodes this way. The fourth part will be distributed the following way: Every 1440 minutes the network will check how many nodes where online and supporting the network and reward 57600 NEONs proportional to the uptime of the nodes. This will go on for one year.
Part 1+2: Will reward early adopters that will help to spread the word.
Part 3: Will be an extra incentive to setup nodes in the first 4 years, as the transaction fees will not be as high as later on.
Part 4: Will be help to secure the network against DDOS in the first year, as the past showed that the network is the most fragile in that time.

Total units of NEONs: 84.096.000

Technical:

Written from scratch, in C. Not the Java crap that NXT uses (with all the code in one file lol)
Blocktime is 60 seconds, leading to 1440 blocks per day on average.
The units will have 4 decimal points at the start. This can be shifted back unlimitedly. (0.0001 smallest unit at the start)
The initial fee will be set at 0.01 NEONs.
The network will be able to handle 1000tps (transactions per second) at the start.
The nodes can be used with anonymous networks like TOR.

Security:

In the first step it will be possible to anonymize your actions using TOR and the built-in mixing service.
Once our truly anonymized protocol is finished, there will be no need for this, as the transactions will not be associated with a given account anymore. More on that in the whitepaper.

Progress:

Network code: 100% done
Nodes: 100% done
Client: 70% done
Testing: Testnet is running for 2 weeks now. Only some minor bugs found until now.

Features: (all of them are already working in the testnet!)
Unlike Bitcoin and many others, we split up the client and the nodes. This is much more user friendly and will lead to less end-user problems.
The node with all features will be published on release on Windows, Linux and Mac.
The nodes will have all client features(see below) plus this features:
-   Distributed storage
-   Advanced DDoS protection (you can read details on this in the white paper that will follow)
-   Blockchain purging, with bootstrapping. (Master nodes will keep the whole blockchain)
-   Secret killer feature, that will be revealed in the whitepaper!
The lightweight client can be used on Android, iOS, Windows, Linux, Mac and as browser plugins on Firefox and Chrome.
The client will have the following features(all can be dis/enabled):
-   Encrypted chat/messaging
-   Alias System (Every account can create one free alias, everyone after that will cost the minfee. Alias can be traded freely on our decentralized marketplace. But the free alias is blocked from trading for 1 month.
-   Send to aliases (no need to remember the account address)
-   Decentralized marketplace where you can trade any asset/alias
-   Voting system
-   News distribution from devs or any other alias you follow.
-   Mixing service
-   Wallet files if wanted (you can use brainwallet and wallet files both, but this is client side)

Can you mine this coin?

Even though it is not mining, you can run software to receive a reward. As mentioned above the postgenesis accounts will distribute a fixed number of fees to the forging nodes that help to protect the network. So even though you don’t own any NEONs, you can run the full node and receive a part of the 57600 NEONs each day. At the start this will be a huge reward, as more people participate the reward per node will diminish. Obviously everyone can run multiple nodes, this is wanted as this stabilizes the network even more.
Once you own NEONs, you can let your node run to forge blocks and receive the fees of those blocks. Example:
If there are 15.000.000 NEONs forging and you own 1 Million NEONs, then you will forge four blocks per hour. This will give you 16*4 + X fees per hour = 64.

When will the Whitepaper be released?

Due to the rush of the other coins we decided to start our IPO before everything is finished fully, because we don’t want to give others too much of an start advantage.
Whitepaper ETA: 19.01.2014

When will the source code be released?

This is a point we talked about much. On the one hand we want to grant our users as much inside as possible, on the other hand we hate to see our concept cloned on the first day. But obviously we have to release it somehow. That’s why we decided to release the source for the nodes every 2 weeks after the upgrade. So the first source will be released 2 weeks after the launch.

What about the Website, Forum, Faucet, Exchange, Block explorer?

We have registered all the necessary domains and one of our developers is using 100% of his time to finish those right now. We will lauch the sites 1 week before the official launch. So on the 25.01.2014.

How do we participate in the IPO?

The IPO will run until the 26.01.2014. This is one week before the official launch and the genesis block distribution. The nodes and clients will be downloadable 2 days before that.
The IPO will distribute the 50% of all coins to early stakeholders. This is a total of 42.030.000 Units of NEONs that will be distributed.
Due to the whitepaper only being released on the 19.01.2014 we will split the 42048000 into 3 parts and distribute one part of 14.016.000 units per week. So investors that decide to invest before reading the whitepaper will get more coins per investment. We are sure that after the release of the Whitepaper, the interest in this coin will skyrocket.
We accept BTC and LTC only! The LTC to BTC conversion will be made on the day they are transferred at 11:59 PM.
These funds will be used to finance this project and set bounties for sites/programs and promotion. No NEONs will be kept for this purpose as we find that to be a unfair part of other problems, as this distribution is never clear to the users.

If for whatever reason NEON will not be launched, the BTC will be returned to the investors.
ALSO: EVERYONE CAN REVOKE HIS INVESTMENT ANYTIME UP TO THE DEADLINE. BUT IN DOING SO, HE WILL FORFEIT HIS PLACE IN THE GIVEN WEEK HE INVESTED! Just shoot me a pm!


TLDR:

There are a total of 84.096.000 NEONs ever in existence.
Of those, 50% will be distributed within the IPO. A third of those per week of the IPO.
25% will be distributed as fees over the span of 4 Years.
The last 25% will be used to stabilize the network within the first year by rewarding nodes.

First week investments:  05.01.2014-12.01.2014 11:59 AM      14.016.000 NEONs
The BTC address for investments is: 183yYZAaeLJ5WkmM7U5N71X7QgEM4dNPNQ
Link https://blockchain.info/address/183yYZAaeLJ5WkmM7U5N71X7QgEM4dNPNQ
The LTC address for investments is: LPCyLtXTNvqqS4pMEHdHXvUKU57GGi4ZrL
Link http://block-explorer.com/address/LPCyLtXTNvqqS4pMEHdHXvUKU57GGi4ZrL
EDIT: someone asked me if we can offer NXT and XPM as payment options too. And yes we have wallets of both, and will use the rates at 11:59 PM to convert to BTC.
The NXT address for investments is: 1429831591139539134
Link http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=1429831591139539134
The XPM address for investments is: ARcv6gzbDZ6eNsp3XhHJ64bwiaLUjrrzzk
Link https://coinplorer.com/XPM/Addresses/ARcv6gzbDZ6eNsp3XhHJ64bwiaLUjrrzzk

Sent the BTC or LTC to theses addresses and send me a PM with the hash of the transaction and how you would like to be contacted.

List of Investors and BTC Amount: (will be updated twice daily at least)
DAY: 1
1 f****y 0.0121 BTC (0.41920721 LTC)
2 r****r 0.2 BTC
3 w****8 0.058 (2 LTC)
4 w****m 0.5 BTC
5 b****r 0.2 BTC
6 l****8 0.05 BTC

DAY 2:
7 c****5 0.23 BTC
8 z****0 2.00 BTC
9 c****h 3.33 LTC
10 MR000 0.1 BTC + 6800 NXT
11 k****o 0.05 BTC
12 N****c 0.1994 BTC
13 o****r 1 BTC
14 M****S 7.00 LTC
15 e****1 0.6 BTC
16 t****1 1.1 BTC
17 b****1 1.5 BTC
18 f****y 0.2 BTC
19 T****a 10000 NXT
20 i****v 100 NXT
21 w****e 0.5 BTC
22 l****e 0.0416
23 M****t 0.471
24 D****o 6000 NXT
25 g****g 2.0 BTC
26 h****m 20000 NXT
27 q****h 1.12 BTC
28 Z****n 0.01 BTC
29 w****8 3 LTC
30 t****s 0.07 BTC
31 s****o 0.3254 BTC
32 n****r 0.1 BTC
33 b****b 0.1 BTC
34 k****3 0.02 BTC
35 o****r 500 NXT
36 d****e 100 LTC
37 m****g 0.444 BTC
38 j****3 0.13 BTC




12.01.2014-19.01.2014 11:59 AM      14.016.000 NEONs
Investor – BTC Amount
19.01.2014-26.01.2014 11:59 PM      14.016.000 NEONs
Investor – BTC Amount


Announcement!!

We have decided that we will run a one week long closed BETA test. This will start simultaneously with the launch of the whitepaper. To participate you will have to send ANY amount in the first or the second week. 0.001 BTC is enough to participate!!

This beta will give access to the two types of nodes and the client (on all platforms). All the features will be available, the deyentralized exchange and the filestorage too!

Regards,
NEON Team!

I will post an ANN once i am out of newbie jail