So let me get this right. 25% interest per year? So I'll get .0685% free coins per day based on number of coins in wallet? or 68.5 free coins per day per 1000 coins?
Stake comes in 42-day batches. When the coin is 42 days old in the wallet, your computer qualifies to mine/mint stake on that. Leave the wallet open, and that will be mined , probably within a day. Then that batch of coins has to age 42 days again before more stake can be minted from it. 25% x42/365 , ~2.87% , so 28.7 coins per 1000, every 42 days. |
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On poloniex trollbox :
disecelmaitare: BrooklynGuy u know if ECC/BTC market will be here ?
BrooklynGuy: disecelmaitare, There's been talk of it recently; Busoni knows that ECC traders want the BTC market added.
disecelmaitare: ok , thx for the info
Poloniex probably made an error in adding ECC to to LTC market. They underestimated it's potential. That often happens with a new coin. ECC is on plenty of other exchanges, and it may help to have the LTC market as well. |
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I believe the main purpose of PoS is to use the open wallets to maintain the network. With minting possible from paperwallets, there would be a risk that the network could die. I would not myself support that, unless someone can show me what the benefit would be.
There are proposals to solve this problem. In the Peercoin (PPC) community we have discussed some, but none has been implemented so far. The trick would be that you have two wallets, a hot wallet and a cold wallet, and that you prove cryptographically the ownership of both of them so you can mint with the coin-age of both wallets combined when only one of them is online. That means: You can only mint with the coin-age of the "cold wallet" when you have the "hot wallet" open. But there is no need that he "hot wallet" would have any coins in it. So the incentive to let the client open and mint is not affected, but the private keys of the wallet containing most of the coins can be held offline. wouldn't be there a risk to have non existing coin minting (or coin which have been removed from the cold storage to some other place continuing minting ) ? or hack like that ? If it's well implemented, no. As data for both wallets are stored in the blockchain, the PoS algorithm can check at any time that the coins are there. If you move coins from the cold wallet, you will set coin-age also for the "minting" wallet to zero again. There is another proposal that the coins are virtually "transferred" from cold to hot wallet, you can search it at this forum by the name "cold-locked transaction". So they form part of the balance of hot wallet but can be moved only with the consent of the "cold-wallet" owner. It would not be a "quick fix", that's true. But it would be a real game-changer, because it makes true cold-storage possible. Imagine you have COMM worth 100.000 USD in your wallet. If not in cold storage, they would be at risk. The "mintonly" unlock, for example, can be tricked with a keylogger. With a "cold-locked minting" solution you can contribute with such large wallets to the security of the coin using PoS. I see. So a wallet would have to be open, just not necessarily containing all the coins owned. |
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Hello
Is it still possible to be part of this community without buying in?
Yes of course...everyone welcome, but if you want coin, you will need to buy on exchanges.. Get involved, contribute something: there will be other forms of giveaway in future as well. |
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Who in the world thought it would be good for 'community' to devise a bizarre draconian process for deciding who gets 'let in' and who gets 'rejected'. This causes a lot of discontent and drives many people away from the coin. It is weird. I understand the people who are very upset and may be acting out in this thread. I am not part of this, as I am a new member and would never qualify, but I still feel compelled to get involved. You guys should be ashamed of yourselfs. This is not what a good 'community' looks like.
You do understand that society as a whole works exactly like this? There is no actual universal acceptance... birds of a feather flock together and all that. This may indeed be what a Great Community looks like. Time will tell, and everyone is free to buy COMM on exchanges (also to sell)..Critics are often hypocrites anyway (but they think they know best) There are hundreds of currencies , many of which have tried novel forms of 'Distribution'... this is just another experiment: it has a good chance of working. |
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I have received 1 million so far and not applied for the second million.
If I get the second million, I would publish the address and use 100% of it for development bounties.
I have some code enhancements in mind that could be a milestone not only for COMM but for "Proof-of-stake coins" as a whole. If they would be developed by the COMM community, they would sure make this coin one of the most popular. Unfortunately I have not the programming skills to implement them myself.
I will give the details in the Communitycointalk forums. The most important of my ideas would be a mechanism to allow people mint while have most of the coins in cold storage (paperwallet/offline usb sticks etc.). That would deserve at least 600-700k COMM.
If the dev means that I was inactive and don't "deserve" the second million, I would also be glad if he commits to use 1 million for my proposals.
Interesting proposal.. I believe the main purpose of PoS is to use the open wallets to maintain the network. With minting possible from paperwallets, there would be a risk that the network could die. I would not myself support that, unless someone can show me what the benefit would be. |
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16041 votes on Mintpal. Good job guys. Keep voting until we get on top.
Still on that mintpal bandwagon? Like I have already stated. This coin is toxic until the 20% coin issue is resolved. What do you think getting on mintpal is going to do for this coin? No serious trader is going to touch this coin wondering if he's going to get dumped on by a 200 million surprise. People already know where to buy this coin and they're staying away. Why do you think the price is so low? It's not because of posts I made. It's because nobody's buying the story about the hard drive and the 200 million coins. Mintpal won't help this coin at all. Start demanding answers about the status of those 200 million coins. Don't worry the dev can't do anything to you and they won't be giving out anymore coins so you have nothing to lose. Hey mate, go look at Zetacoin, the top holder has 1/3 of the supply nearly, and that coin is doing just fine. The 20% issue is surprising to me but honestly it's not going to stop investors who see potential. We just have to keep this thing moving, get the word out, and YES, vote on Mintpal. I'm staking full on and even bought some on the exchanges myself to increase my stake potential, this is *such* low risk right now to buy into for the potential reward. This is the epitome of a low risk/high reward speculative play. Just hold, grow your stake, support the coin, buy some if you can't get it because it is CHEAP right now, and enjoy the coming weeks as this thing picks up. Don't expect miracles overnight, just invest when it's dirt cheap and support it - with the community behind it, everyone will be rewarded. +1 The attention is actually quite useful for publicity, plus I am grateful for the opportunity to build on my stake without the price getting away from me... no rush now as the overhang of the lost coins will hold the price down for some time. COMM is an interesting and , surprisingly unique model, and I will look to switch some investments from other coins in the coming weeks. |
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Someone should start thinking about creating a multipool for this coin. BlackCoin, ECCoin and ZeitCoin and probably others are doing it as well and people are taking notice. It will only work once the reward is down to it's minimum value I reckon, but if some willing pool operator is able to set this up in beta I am sure it will renew interest in this coin and bring it out of litoshi land.
It seems like a good coin to me with a neat name.
Thor has a good genetic basis, yes. It has been overlooked in the storm of issued coins over the last couple months. Let the community gain a little more numbers organically. Do we have anyone with the skills to create a multipool ? |
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if only we had this solution at the beginning of the attack and better when we've been DDOS a few days after launch, for sure we'll have been one of the biggest EC pool.
thank you anyway!!!
Ok enjoy, If you buy 20 dollars plan you can update full cached page every 20 minutes (more often) so it'll be more live page... [/quote] Good job done ! This solution works well and is the most widely used by websites. |
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Oh woe. Buy some and make some money. |
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The dev has done an incredibly hard job in distributing the coin.
If he had to cheat the community, he didnt have to do this hard work for distribution.
He could have distributed just to the first 800 applied and kept the 200M.
At this moment I am trusting the dev as he is actively working with the community for the right fix.
My only request to the dev is, please publish the blacklist of people who applied and didnt get any stakes
so that the community can form a pool and start distributing some coins to them, so that no one will feel left out.
Lets grow this community and ignore the trolls and dumpers.
agree an well said i'll support him and the commiunity, anyway that i can +1 good Thats a fine idea. I always contribute to giveaway schemes that are well crafted... I believe that is a good distribution model for phase 2. |
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Maybe I'll be banned, but I need to post this. I received a PM quoted below: A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted. ONCE AGAIN I KINDLY ASK TO EVERY COMMUNITY MEMBER NOT TO RESPOND TO PROVOCATIONS OF eight**** AND scam_ex***! JUST DON'T QUOTE, ANSWER OR TRY TO PROVE ANYTHING! THIS IS RIDICULOUS AND NEEDLESS AND VERY THREATENING TO THIS THREAD!!! THERE ARE NO SMOKES WITHOUT BARRELS! So I don't believe anymore in this forum fairness. Those, who are scamming on this forum are able to post anything they have in mind, but my trials to make the thread more healthier are assumed as something threatening. So many hours and efforts involved to COMM, but those two guys are ruining every effort of us. Don't worry about that. There were some posts deleted, not all were in support of COMM, it was just a bit chaotic. I have experienced this sort of situation in other coins last year, and I can tell you that it is better than having a quiet thread. When calmness returns, COMM will be all the stronger. |
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I just sent the update on github. I did tests but anyone is invited to check it, test it and improve if it is required.
It is important now to have as many nodes (specially exchanges) updated so it will do its job.
Someone need to compile again the wallets for windows, linux and osx.
The only change was made in the src/main.cpp
Adriano
merged, let me compile and test Will that mean a mandatory wallet upgrade ? |
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COMM is out there in the community, and things are quietly going forward.
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Here's one vote for self moderated thread!  +1 Ah, I guess the originator slipped-up there....or maybe it was deliberate... I smell a conspiracy to acquire at lower prices: when the 196m coins are 'recovered' they can be distributed to influential people. Every coin needs a reserve to bribe the real movers and media stars who are needed later. Very plausible scenario. What about the long term prospects then ? I am thinking about buying when prices get low enough. |
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I have never seen any thread growing this way, 5 pages in a hours  but we shouldn't focus on the price. why care about it right now? +1. Don't focus on price... Obviously at this stage it is meaningless. This 'loss' thing is attracting so much attention.. the distribution could be even more clever than I first thought... what a superb publicity stunt. The long term viability of the coin is enhanced by weeding out the weak hands at an early stage. |
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It is interesting to see the bumping of the thread. it does provide some entertainment !
COMM will get back on track in due course, but first a lot of coins need to change hands : The weak holders are being shaken out , prices are being lowered in order for bigger stakes to be built. When the shakeout is over, only strong experienced hands will be left.
When the community settles down to building the real infrastructure for COMM , things will look a bit boring !
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wow 182 pages thread  this will be the next attraction coin...will keep voting at mintpal hopefully this will be the next BlackCoin 229 pages. Catching up !! |
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