Superblocks ~ first blocks?  some blocks will pay 20k BBC. the rest 200 bbc "Some"? Are they random or fixed height? every 360 blocks So block 360, 720, 1080, etc.? |
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We knew this would happen...it was just a matter of time.
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4300 now Only about 1 BTC away from 5,000 Okay, 5,000 met. Now only 1 BTC away from 6,000! 6,000 met...only 1 BTC away from 7,500! |
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4300 now Only about 1 BTC away from 5,000 Okay, 5,000 met. Now only 1 BTC away from 6,000! |
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4300 now Only about 1 BTC away from 5,000 |
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Pseud just surpassed 4000 satoshis. Here we gooooooooo...
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Why does any dev delete posts? Because they want to cover up their scam.
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actual marketcap if all coins were mined, 66btc?
At 2000 satoshis the market cap for all current coins in existence would be about 44 BTC (under $25,000). This coins is RIDICULOUSLY undervalued! |
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This idea won't happen. For one moment I want you all to put yourself in the shoes of a dev. You take time to create the coin. You want that coin to go far. You then give control of your working capital the premine to a third party. That third party runs off with all your funds. Or that third party decides your reasoning for withdrawing funds from escrow isn't good enough and it adversely affects the coin and it dies. These are just a few reasons why no dev on earth is going to willing give up control of a premine. I am guessing there are 100s of other reasons.
I disagree, it's really no different than the IPO guidelines set forth by Poloniex. It will not hinder the developer, but will mean a great deal to investors. Looking forward to seeing the first new coin listed with "[Escrowed Premine]" in the title. |
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what about hidden premine ...
That issue is being addressed by the code checkers. It is everyone's responsibility to always check the code and make sure it is clean. I am attempting to solve the problem of investors fearful of investing in coins with premines even though the premines may be necessary for development. This solution does not hinder the dev, but at the same time gives investors peace of mind. |
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Hey guys
We've given it some thought and decided that we will be cutting PoW to 31000 blocks due to ASICS and multipools hitting ShadowCoin hard. This change will be made when we release the new EM wallets later today.
Smart move dev. This is a great way to protect your investors as well as the integrity of your coin. |
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Dev, Earlier you stated: A premine is the small amount a dev gets out of his hard work for a coin This insinuates that you feel the premine is payment for your work. If that is the case, the only way you can get that "payment" from the premine is by dumping your coins. Therefore, by your own admission, you will be dumping the premine. If the premine is not payment for your work and you do not intend on dumping the premine, then there is no reason not to have the premine in escrow with a trusted member. What am I missing? I wish people would give up on this idea of escrow with a trusted person. I wouldn't trust anyone with a premine like this no matter who they were because they could dump it off just as easy as the dev can. Yes, but the dev is a no name, a nobody, a newbie with no history or reputation. A hero member with years of posts and reputation has a lot more to lose by dumping the premine. The dev can disappear into the night with his pockets lined with cash. The hero member would tarnish their reputation forever. the vast majority of hero members with years of positive reputation would not take that risk, whereas the dev has nothing to lose. |
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Dev, Earlier you stated: A premine is the small amount a dev gets out of his hard work for a coin This insinuates that you feel the premine is payment for your work. If that is the case, the only way you can get that "payment" from the premine is by dumping your coins. Therefore, by your own admission, you will be dumping the premine. If the premine is not payment for your work and you do not intend on dumping the premine, then there is no reason not to have the premine in escrow with a trusted member. What am I missing? |
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Love how you can now see details of your referrals. One of my referrals has earned 843 coins!  |
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Really nice unlock.mk!  If no one else participates by Friday, we'll use your logo and pay the bounty to you! UPDATES:
A lot of members have been telling us via PM that IPO is a bit expensive. We have decided to double the amount of CRYSTAL you will receive for each share.
IPO: 900000 CRYSTALS
300 Shares – 0.1 BTC each
[1 Share – 3000 CRYSTALS]That's reasonable. |
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It's really just about accountability. Devs have been given far too much freedom to screw investors over and over again. There is absolutely nothing wrong with a dev having a premine, but it needs to be used properly. If a dev is looking to earn off the coin then they can ask for donations based on performance. The premine should NOT be used as payment to the dev for their services.
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for example, the premine could be given in different steps but within one/two months
Right, as necessary. You could even have the community vote on what to use the premine for and how much. For example, the dev could say he wants to use 10,000 coins for a website, and the community could vote yes or no. There are so many different ways to implement the premine escrow, and they are all beneficial to investors. |
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Your solution is another excellent alternative to premines as we know them. My only critique is that developers may need more funds upfront to help with development,
so your suggestion may hinder the early growth of a coin.
I think at this point new coins don't deserve premine unless they have something unique to contribute to the crypto scene like a groundbreaking new feature. Otherwise it's obvious why people launch new coins with premine. Either way, devs would be guaranteed to have the coins which means they could pay for bounties, just not instantly. With a block explorer (which I think should be a standard like wallets at launch) people could track the devs royalty address. Considering how incredibly generous the community can be if they like what they see I'm sure it's possible to have the amount of the per block percentage which goes to the devs up to the community by voting in the wallet similarily it's possible to vote for the block reward amount for certain coins. I'm pretty sure if a dev is active, rolling out new features, etc. people will vote up the percentage and conversely if the dev is not delivering or not giving enough attention to a coin the cummunity will vote their reward accordingly to 0. Awesome suggestion. If the community gets behind this, they could make it happen. Let's hope we are able to raise awareness and that potential investors demand a change in the way premines are implemented. |
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Exchanges should make a new rule that if a dev makes a modded post they wont list them. If your coin can't stand up to people on a forum it doesn't need to exist.
It can stand up just fine, the useless FUDing and trolling though is stupid. It will be deleted. you premined 15,000 blocks?
Pass
Launch seems fair - I had it compiled and running by block 74. Its at 124 now, and rewards are only 1 until block 250. What I mean is the equivalent of 15,000 blocks 10 coins per block * 15,000 = 150,000(the 1% premine) = about 10 days worth of mining Yes you are correct, but if you look at the big picture. 10 days compared to 2.8 years of POW....That is a very small amount of possible mining. yes but you have the 150 000 coin right NOW and you can dump RIGHT NOW. The coins won't be dumped. Please check the OP for the premine address for transparency and monitoring. Here is your solution https://bitcointalk.org/index.php?topic=717402.0Hi Dev, The only major concern people have about your coin is the premine. If the premine were not a factor, then I don't think you would be receiving the negativity that you have seen in the thread. That said, above is a link to a thread I made about premine escrow. Would you be willing to keep your premine with a trusted member in escrow with transparency as to when and how much of the premine you would need at a time? If so, I think your coin could be successful. If not, I think you are a scammer. The ball is in your court. People shouldn't have a concern. A premine is the small amount a dev gets out of his hard work for a coin. ONYX will have a lot more features in the future and do plan to actively develop ONYX. I am sorry you feel that way that you think I am a scammer if I won't hand over our premine to you. Sorry, tough luck. If you don't like ONYX then feel free to go mine all the shitcoins that only offer you 4 days of PoW and then they dump once PoS starts. Onyxcoin is here for the longhaul. The premine won't be dumped and the address is listed in the OP for full transparency. The first thing the premine will be used for is bounties. People obviously DO have a concern with the premine whether you think they should or not. Not touching this one. |
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I've been quietly sitting on side lines and been intrested in this coin
Everything so far has been done right
Good launch regular updates etc
Right now I have a major concern
80 giga hash is coming from outside the pools
It can only be Chinese ASIC farms probably a cartel of 2 or 3 major manufacturers
Thier only instinct is to sell whatever they mine for instant profit to pay off thier ROI
They have no long term view as they have overheads to pay staff etc
Within a few days they will have the majority of the coins or create a dump as they offload thier coins
In this game one fuck up no matter how small or big it's game over , you can the best innovation crypto has seen but the name is tarnished and the dev goes to make another coin
With 80% of the power within the hands of a few People hard forks and scam pump and dump is not inconceivable and with that shadowcoin is becomes a shitcoin over night
The POW needs to be cut to 10 million so it ends sooner and coins distributed fairer
Then the market can dictate its own price with a long term goal
Dev cutting the POW means you can carry on innovating without people moaning, taking up your precious time and become a legend in crypto land
Your fate is in your own hands
Remeber you can become rich quick but to become wealthy takes time and hard work
Interesting perspective. One thing is sure, decreased POW means increase is price! |
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