I'm sure many are awaiting an announcement concerning the Re-Branding or KORECoin and info on the Wallet developments.
We should have this together late this evening.


Cheers,

MikeMike

Hiya BitWhat,
Now that is a fitting nic in this circumstance!
MNWhat? is more like it and I too have been learning much... so no worries...
There is no stupid question but the one not asked, and this is deeper info.

The Obfuscation and network fees for the Masternodes will be burnt.
It is small amounts but still decreases the supply.


The "Masternodes" are for the Obfuscation and Governance only.
The "Servicenodes" are for services and we are not disclosing them at this time.

MikeMike

Here is some info from the OP page:

Pure Tor Masternodes/Servicenodes a World First:
Tor Service nodes  are currently in testing and will provide services to users.
Tor was chosen to increase privacy of users as it obscures your IP enabling use of services without fear for privacy.

Obfuscating your coins from being tracked by a unique mixing feature by traditional Masternodes:
Masternodes use this function to automatically break up private transactions into indistinguishable
multiple identical transactions, this adds complexity to the original transaction and obfuscates
the proof of any particular amount and hides the IP of those who mix the coins with you through their Masternodes.

Decentralized Governanc by traditional Masternodes:
To guarantee the long term sustainability of the blockchain, the network keeps a portion of the block rewards,
network subsidizes approved proposals, the Masternode operators are tasked to act as stewards and invest in the maintenance
and expansion of the network. This results in faster development and promotion, creating a cycle that benefits all involved.
Most importantly, this gives the blockchain itself a self-preservation mechanism that is beyond the control of any individual.

The system works as a decentralized voting mechanism,
where budgets for specific projects are proposed, then the Masternodes as a whole vote on them.
Each project, if approved, is added to the total budget and paid directly from the blockchain to the person(s) doing the work.
With this, we can hire more core developers, marketers and other essential personnel
paying them directly after approval of the work in a decentralized fashion.

Not "very few" because they scale.
Meaning if there are less Masternodes they get a higher %.
They will balance out.
 

MikeMike

Awesome.
Thanks for posting!

I personally like this one too on "telling it like it is"
medium.com/@blairerickson/how-is-a-corrupt-criminal-like-jamie-dimon-not-in-prison-for-fraud-f3a1e7eb4cf6

Thanks for your posts and link.
We were actually in meeting just now once again going over the "math" doing % on PoS/Masternodes.
There is much to consider and the algo, tech computations do not work as simply as most coins state
which means there are PoS coins and Masternode coins posting a % and it could vary huge up and down.
The difference is KORE/The Team will tell you that. Most others won't.
The Wallet dev even found flaws in PoSv3 that he has corrected.
We are doing our best to have KORE be attractive for PoS miners as well as Masternode operators.
Then you have to consider amount of total coins, barrier to entry, price and how many coins will be staking.
None of which you can with any definitive degree of accuracy.

MikeMike


EXAMPLE:

PIVX Masternode costs at current 10,000 coins 43,200 USD.
Payout per year at todays price is   1,620 USD per year.
This means the PIVX masternode brings in 4.8% per year and will take 21.11 years for ROI.
The Team believes the ROI should be around 8-12 years.

Im sure the price fluctuations could make these computations null and void.
But it makes my point.

DASH is around 8% per year.

The GUI is still not dressed out but it does look better in Ubuntu than MINT.
I am happy they both compile with the same command.


MikeMike

lol, We'd be finished with the calculations in 5 minutes if we only knew how many KORE coins will be PoS staking.
 

MikeMike

Hi,

We are still crunching the numbers but we do have a minimum of 8% in mind and do want to keep it near 10%.
KORE is not a gimmick coin. We want to make the proper decision here for long term sustainability.
We should have something posted in the next day or so.
It is not as easy as saying: PoS will be 9% and Masternodes will be 9%.
The Masernodes payouts will be taken from the PoS amount and if there are not enough coins in PoS
the MNs will not be sustainable and visa-versa. It is a careful balance between enough incentive on both ends
while taking into consideration inflation, distribution based upon an impossible to know amount of PoS coins that will stake.


MikeMike

All or most of your questions will be answered in the next 6 to 48 hours.
 

MikeMike

Sure. Best to DM me in Discord.
Looking forward to speaking with you.
https://discord.gg/VD2kytE

MikeMike

I'm including it in the OP page now...


MikeMike

Please Watch This!
Excellent video on the Importance of Privacy.
Thanks for sharing!
 

https://www.youtube.com/watch?v=AW7aU3zv-4M


MikeMike

In a perfect world without bureaucracy, special interests and if people collaborated for the greater good it is clearly
amazing what could be accomplished in most every area. In this instance if there is not enough capacity for the public then
mining could be considered a bit selfish in relation to your neighbor not being able to keep their food cold or
run their well pump so all things are relative...
But if there is the capacity then why not allow the public to better themselves financially as it could only spur
economic spending driving jobs and possibly better the mean earnings for everyone.
But there in turn is the caveat, Is there the electrical capacity to handle that and what would be
the cost to the public to have the GOV increase that capacity.


MikeMike

Same rumors went around about Bittrex about 8-10 months ago. when their volume was getting very low.
I also hear the same about Yobit.
Lets face it. Keeping your coins on an exchange is risky.
I lost in three defunct exchanges, MtGox, MintPal and Cryptsy
and believe it or not so far the most reasonable customer service came from Yobit.
This is why we need some alternative either we can trust
or that are decentralized.

KORE will have Clocktimeverify so swaps will be possible.
Setting up the infrastructure making it simpler will take some time.

My main concern was getting the notice out asap in case we release early.

MikeMke

Once the wallet comes out we can try to get KORE listed on Poloniex.


MikeMike

Australia is in evaluations, but please still apply.

Thanks.
Please look them up. We will need them for testing.

MikeMike

We want to cater to the Chinese as well
and we think we have a decent platform to do that.
KORE not being an ICO means they dont have to worry...

MikeMike