Thanks everyone for the patience. You might have noticed a delay with respect to our original launch plan. Unfortunately, we had received some DDoS attack threats, and some of our servers even faced specific hack attempts. Even though our team believes none of those were successful, we concluded it would be wise to postpone the launch and use the extra time to design a better network infrastructure to ensure a smooth start.

Anyway, there is also a good news. Our marketing staff were not slacking off in the meantime, so we have started cooperating with another dozen of influential people interested in the idea of the new Ukrainian. We expect things to get pretty serious, and we are looking forward to this great opportunity in cryptocurrencies. It is pleasing for us to see you all share the passion.

The updated launch date is now set to be 19 June 2014. The wallet application will become available a short time in advance. Kozakcoin is PoS-only, which means there will be no issues with early adopters mining unfair amount of coins for themselves. However, to motivate people to support the network, we will offer a tiny starting amount of coins for the forum users trying out the wallet and posting their address to this thread. Stay tuned to get some free money!

I bring some more details regarding the investment stages. Following the Kozakcoin launch, investors will receive a chance to purchase a fixed percentage of Kozakcoin. The first FIPO stage will last up to seven days with the total amount of 0.75% coins being availible for redistribution among investors. The FIPO system utilized during this stage ensures that the amount of coins to receive per BTC invested is known in advance.

The first FIPO stage will have a 50% bonus for the amount of BTC invested. After the initial FIPO stage, there will be two subsequent FIPO stages with 30% and 10% bonuses, respectively. The fourth and fifth investment stages will be standard IPO stages. What we call standard IPO means that the total number of coins reserved for these stages will be distributed proportionally after each stage ends, i.e. the amount of coins to receive by an investor is dependant on the total BTC amount raised.

Because of the fair amount of trafic to our website in the last few days, we fear that the FIPO stage might be over soon after it starts. To ensure equal conditions for all participants, we decided to make the wallet application available a day in advance and set an exact starting time for the FIPO. The updated starting time is now 7 May 2014, 18:00 GMT (with a countdown to be published on the website).

Stay tuned for our next update concerning the wallet release and perhaps some information about current situation in Ukraine (provided there is any demand for such kind of info, that is).

Thanks for the input! PoS seems to be perfectly suited for a national coin, provided that the project gets enough media coverage. We are working to get advertized on the radio, and we also try hard to design the Airdrop system as simple as possible, so that enough people actually claim their coins. Let's see next week how that works out.

We are happy to announce Kozakcoin, the first national proof-of-stake cryptocurrency. Kozakcoin is a long-term project that aims to help stabilize the current situation in Ukraine and create an alternative payment method for the Ukrainians.

The Ukrainian currency hryvnia is becoming more and more unstable. The value decrease of 25% in matter of months is a reality. For an average person living in Ukraine, this is a horrible scenario. As people are becoming rebellious and want to change the system, there has never been a better opportunity for the Ukrainians to accept a new currency. We have the right, expirienced people to make this possible.

The largest part of all coins will be airdropped to the Ukrainians. Kozakcoin will also feature its own Blackcoin-like multipool to mine other currencies and purchase Kozakcoin every day. This is a way for later adopters to gain coins, plus the multipool will also help stabilize the price. We plan to help set the initial price using an improved IPO-like system, which will prevent wasteful burning of electricity and hopefully provide us with funds to extensively promote the coin.

Specifications:

• Algorithm: Proof of Stake (PoS)
• Nominal stake interest: 1% per year
• Coin distribution: FIPO, IPO, Airdrop

We are launching 7 May 2014. Don't miss the opportunity to get some coins in the FIPO stage starting on the same date.

Please visit http://kozakcoin.org/ for detailed information and follow us on Twitter or Facebook to stay updated.

Thank you for all your input so far! I am glad so many of you are concerned about the issue.


You are very welcome! Only, in other participants' defense, let me admit there is not much to discuss yet.


Some of us have already participated on the forums before, yet their account is weakly linked to their name. As you can probably understand, at least for now, it might be unsafe to reveal our true identity. I hope we can put out at least a few details about ourselves when we launch the website.

I believe it's smart of you not to trust random people on the Internet. We will try to be open and build your trust by small steps as the project goes on and you see we keep our word. In the beginning, we will be able to cover most of the expenses ourselves, so you won't be forced to put your money into anything dubious.


Please be patient, they are both on the way. I know it looks suspicious when there is no detailed info, but after noticing several scams, we felt the need to make this pre-announcement and reserve a place on the forums for a serious project.

After noticing several attempts to announce a new altcoin for Ukraine, we'd like to make a public disclaimer regarding an unrelated (read on for an explanation) project we have been working on since January 2014.

What do I mean by “we”? We are a small team of volunteers (mostly Ukraine-based) with the goal to design, promote and distribute a new alternative cryptocurrency targeted at the Ukrainians. Even though we can't disclose many details as of yet, we are devoted to make the best of the principles that have been proven to work in the digital world, while also proposing new mechanisms to help the currency actually spread and become useful.

Unfortunately, as our work progresses, we start to see a great deal of “projects” starting off under the excuse to help Ukraine, while their sole purpose mostly is stealing people's money. We hate to see someone damaging people's trust in real (and potentially promising) projects.

For us, the idea of making a new Ukrainian currency does not end with the short-term plan to quickly help a country in need. We are willing to continue supporting the project as long as needed in order to enhance the reputation of cryptocurrencies in general. We have the right, experienced people to make this possible.

We decided to speed up the work and start the currency sooner than planned (perhaps before the word Ukraine gets completely blocked on the forums). We kindly ask you to stay in touch with this thread, where we will post more details in the next few days. We value your support, and we will need your help for the project to succeed.

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Помітивши кілька спроб оголосити нову грошову розрахункову одиницю для України, ми хотіли б зробити публічну заяву про непричетність щодо неповязаного з нами проекту (читайте далі для розяснення) над яким ми працювали з січня 2014 року.

Що я маю на увазі вказуючи "ми"? Ми- невелика команда волонтерів (в основному з України) мета яких розробка, просування і поширення нової альтернативної криптовалюти для українців. Навіть якщо наразі ми не можемо розкрити багато подробиць, ми віддано працюємо, щоб найкращі перевірені принципи діяли в цифровому світі, одночасно пропонуючи нові механізми, щоб допомогти валюті фактично поширитися і стати корисною.

На жаль, поки наша робота просувається вперед, ми бачимо багато "проектів", які виникають під приводом допомоги Україні в той час як їх єдина мета в основному викрадення коштів людей. Нам прикро бачити що хтось підриває довіру людей до реальних (потенційно перспективних) проектів. Для нас ідея зробити нову українську валюту не закінчується короткостроковим планом швидкої допомоги країні при потребі.

Ми готові продовжувати підтримувати проект стільки, скільки необхідно для того, щоб підвищити репутацію криптовалюти в цілому. У нас є потрібні, досвідчені люди, щоб зробити це можливим. Ми вирішили прискорити роботу і запустити валюту раніше, ніж планувалося (можливо до того як слово Україна стане повністю заблокованим на форумах). Ми просимо вас, щоб ви не втрачали звязок з цим посиланням, де ми розмістимо більш детальну інформацію в найближчі дні. Ми цінуємо вашу підтримку, і нам знадобиться ваша допомога для проекту, щоб домогтися успіху.

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March 6: I added the Ukrainian translation.