Due to the understandable lack of interest in an IPO from all the IPO scams around here lately, I've decided to take the advice of one of the pool owners and rework the coin without an IPO premine and launch it as a non-ipo coin.

The block time was chosen for stability.  Remember there are only 12.6 million of these as opposed to a billion like other coins, its designed to hold its value with good branding and a nice wallet to boot.

Anyway, I will check out the alt coin calendars and find a good slot to launch this around next weekend.

Only 2 days left to participate in the IPO.  Launch is Monday the 31st at 9pm EST.

Only a few days away.  We put up a page on our website with the details as well.

Happy hump day!

Given what I've been reading in some other IPO threads and and the way things have been going lately, I have to say I completely understand the initial reaction to my thread here.

The IPO is offered simply as an opportunity to get in early, if it funds great, if not thats ok too but it will mean a little more muscle from the community will be needed to help out with grassroots marketing and promotion.

EYEN is not simply a copy/paste clone, but brings together some nice stuff and had some effort put in to the QT interface to make it very nice.  Hopefully folks will read the specs with a discerning eye.

Follow us on Twitter for the latest updates: @ElectronicYen

I guess right now its 2 or 3am over in Iceland right?  So maybe we'll start seeing more feedback and news picking up more in another 6 hours.  Bought a little AUR just in case there's a surprise massive breakout to the upside.

You should have the coin up and going on testnet and fully run through your launch ahead of time, before committing to dates and times, especially if you have a dependency on other people hitting their deliverables.  You don't want to be throwing it together at the last minute.  And you want to catch any oversights before you are live - e.g., did the dev remember to update the alert key?  Hex addresses for dns seeds?  etc.  The actual launch/go-live should be relatively anti-climactic if you have done it right, because you've already shaken it out and you are simply publishing links and source.

I agree with a previous poster - you should've started with a soft launch of a fun coin to learn first and pick up some experience.

Now you're in the unenviable position where you are not only dealing with launch issues, but damage to your brand that you have been working at building up for awhile now on Twitter etc.

Here's my unsolicited launch and business advice:

• Give yourself plenty of time
• Get everything running on testnet and run through a rehearsal of your launch procedure
• Get another dev to put a second set of eyes on the code and just do a quick check for the common issues - there are a number of things that are not widely publicized in "make your own coin" guides but that experienced devs will immediately know to look for.
• Keep your back-of-the-house issues back-of-the-house.  Protect your brand.  Put your game face on for front-of-the-house presentation and be clear and confident.

I now fully understand the reaction I got after posting my own IPO, I was a little puzzled at first, but if this is how its been going lately then it is no wonder.  I mean holy shit dude, how do you manage this after all the build up with your brand and pulling a nice chunk of IPO funds, it is astonishing for someone claiming to be a business man.  Well, I suppose on the bright side you'll come out of this with some experience from the school of hard knocks and be better prepared for your next launch.

You need to regroup and push your launch out another week or two.  For an experienced team I would say you need a couple of hours to fix your coin, some time to do your builds, and a day to run it through tests and doublecheck your infrastructure.  Multiply by, well, a lot since you are not yet clueful.

+1 agreed.  I let the multipool dumpers sell me their coins over the weekend and glad I did :-)  I'm just really bullish on SPA and think it has a future.  I won't sell until x100, and I believe it will happen.

That's a cool data visualization.  I am mining some Mazacoins now, and picked up some cheapies this weekend.  I think it will continue to slowly drift down until more news arrives and/or the next pump.  But long term, if some of the original ideals are realized this will hold some value.  I know there was some negative news and its been quiet but I'm just not convinced that means it is abandoned, willing to be patient with this one and wait for tangible progress.  Its been a good coin to trade through the last pump.

No FUD Pls
Do you have some sort of argument to backup why your opinion?  Otherwise its just more trolling and FUD.  This is not some junk scam coin with 1111eleventy billion coins.

Electronic Yen will have only 12,600,000 EYEN, which helps to preserve the value, and pays out 3% interest per year on staked EYEN.  It also has an initial ramp up period before the block reward starts at 50 EYEN, so it is a fair launch for miners.

DigiShield is a more robust adjustment algorithm than KGW.  And X11 is an excellent alternative to the endless stream of Scrypt clones.

Additionally we put a lot of effort into Qt in the wallet to clean it up and make it a nicer experience to use.



Folks are free to choose whether the IPO opportunity makes sense for them or not.  If not, that is perfectly ok and they can get pre-registered at the pools and be ready to mine at launch and acquire EYEN through mining.  I will add more information on X11 mining in the OP this week as launch time gets closer.

EYen is a good coin with a good coin design.  A fully functional testnet version of the wallet and daemon were provided to tales from the scrypt for testing their pool.  Eyen is real.

Nope.  There is no other coin out like this.

Thanks hankrules!  Added your pool info to the main post.

I did too.  I think it was a good idea... the change to Scrypt-N should bring different miners onboard and alleviate the selling pressure... then it is wait for news.  I think Spaincoin is a sleeping giant right now and will wake up in a week or two.  Doing good volume so I don't think I'm alone in that assessment.  I guess we just have to wait and see.

Baseless accusation and pure trolling.

There is no scam coin here.  There are a thousand other scam coins and coins that have gone to the sub-satoshi level soon after launch.

This is not that type of coin.  This is not wolong's PandaCoin.  Actually reading the original post and the coin specifications would illustrate that fact.

Wow, we won an award already!  Sweet!

Thanks!  No airdrop/maildrop/shipdrop/whateverdrop

The Electronic Yen Difference

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EYEN is designed as an antithesis or counterpoint to the many hyped up and dumped "meme" coins and other coins-of-the-week that have plagued the market in recent times.  With EYEN we have brought together a great complex proof of work algorithm, proof of stake, DigiShield, and a reasonable currency cap.

X11 Proof of Work Algorithm

EYEN uses the X11 hashing algorithm for proof of work.  X11 was originated with DarkCoin and is a combination of 11 hashing functions.  It is primarily CPU minable with GPU miners now available.  It makes an excellent alternative to Scrypt mining and is particularly attractive in light of the upcoming widespread availability of Scrypt ASIC mining units.

DigiShield Difficulty Adjustment Algorithm

EYEN uses the DigiShield algorithm, originated with DigiByte, for difficulty adjustment and protection from multipools and hashrate fluctuation, attempts at strip mining, etc.  We believe DigiShield is a more viable algorithm than the Kimoto Gravity Well, especially in light of recently exposed flaws in KGW.

Proof of Stake

EYEN includes Proof of Stake that pays a 3% annual interest rate on your staked coins.  Proof of Stake achieves both a reward to the user for holding EYEN and a better distribution of power on the transaction network, making a 51% attack much more difficult.

Fair Launch

The first 360 blocks have a block reward of 1 coin, to allow the difficulty to lift and stabilize and prevent instamining.

Block Reward Schedule

Block reward starts at 50 coins and halves every 128,000 blocks (about 1 year).  It will take 5 years for all coins to be mined.

Tech Specs

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Maximum Currency Supply:  12.6 Million EYEN + 3%/year PoS interest payments
Block Target Spacing: 240 seconds (4 minutes)
Difficulty Readjustment: Every 1 block
Block Maturity Time:  12 Blocks
Transaction Confirmations: 4

Proof of Stake Minimum Stake Age:  30 days
Proof of Stake Maturity Age: 90 days
Proof of Stake Block Target Spacing: 10 minutes
Proof of Stake Difficulty Retarget: 3 days

P2P Port: 9126
P2P Port (testnet): 19126
RPC Port: 8126
RPC Port (testnet): 18126
PCH Message Start: 0xe5, 0xe9, 0xe3, 0xe8
PCH Message Start (testnet): 0xc0, 0xcd, 0xf3, 0xef

Pubkey Prefix: 78 (starts with Y)
Script Prefix: 5 (starts with 3)
Pubkey Prefix (testnet): 140 (starts with little y)
Script Prefix (testnet): 196 (starts with 2)

IPO

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The EYEN IPO runs for one week from March 23, 2014 to March 30, 2014 11:59:59 PM EST.  A total of 1.5%, or 189,000 EYEN are in the IPO pool.  The IPO pool is offered at 0.00095 BTC/EYEN.

The purpose of an IPO is to fund the ongoing development and promotional support of the coin.  In today's market, few will step up to do the heavy lifting behind the true success of a coin.  IPO funding will ensure that firepower can be brought to bear to push EYEN's awareness and momentum.

To invest in the Electronic Yen IPO, simply send Bitcoin to the Electronic Yen IPO address using the procedure outlined below.  As with all investing, investments are final and not refundable.  Investments must be received before 11:59:59 PM EST March 30, 2014. Funds received after this time will be returned to sender, with the possible loss of minimum Bitcoin transaction fees.

Example IPO investment ratios:


IPO Procedure

Send BTC to this address:  BTC 1Er3Dos1gwtikYk6JsajUdq7w5VbhZY67u


Then, sign a message from your Bitcoin wallet stating your username, email address, the transaction Id and investment amount and email the message and signature to ipo@electronicyen.com.  Message template:

After launch and release of the wallet, you will then generate your receive address and send another signed message from your Bitcoin client with your transaction id and your EYEN receive address.  We will then distribute your share of the IPO funds to you.

You MUST use the same Bitcoin wallet that YOU control to sign both of the messages.  Do not send funds directly from an exchange.

Bounties

0.5% or 63,000 coins have been reserved for EYEN bounty incentives for pools, exchanges, and promotions.  This is a reasonable amount and is necessary to ensure the proper ongoing support of the ecosystem.

Please visit our website and follow us on Twitter for the latest bounty information.

Website

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http://www.electronicyen.com

Social Media

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https://twitter.com/ElectronicYen

Block Explorer

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tbd

Paper Wallet

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tbd

Mining Pools

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eyen.talesfromthescrypt.org - PROP - 1% Fee
Support:  scryptkeeper666@gmail.com or use the pool contact form

Exchanges

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<tbd>

News, Articles, Press Releases

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<tbd>
Wallet Downloads and Source Code

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Posted at launch.

Thank you for your interest in Electronic Yen.  The IPO will close at 11:59:59 PM EST on March 30, 2014.

Ethereum is closer to Open Transactions in concept than to Bitcoin.  Bitcoin is a currency and speculative commodity, whereas Ethereum is a platform that allows you to design digital financial products encoded in a blockchain - futures contracts, bonds, that sort of thing.  It is a cool idea and they have a slick website and a super smart team...but I'm also rooting for Open Transactions, its a little more in line with the principles of Bitcoin IMHO.