How will the coins be converted from SAT to SAT2?
It depends, if you have it in mintpal it will be automatic, if you have in wallet just sent to an adress and get back the SAT2, more details will be explained as it comes closer, meanwhile for more details about the conversion you can read PDF Roadmap at: http://t.co/w9IKz71kxb |
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How can you say that SAT2 has 0 premine when SAT and SAT2 are directly related. This is a lie. There is an auto transition to SAT2. 1 SAT2 = 1000 SAT. Since this is a direct swap, you are really just rebranding. You can't just call it something new and change a few things and then claim 0% premine. It is based off a coin that was premined. Do you think we are stupid? What I am sensing here is that there was a huge premine in the past from some sketchy developer and you want nothing to do with that. If that is the case then why not make a new better coin? Are you trying to cover up something?
If you read carefully the announcement, you will notice the premine addresses have been blocked from the chain making imposible to spend those coins, they wont be able even to be converted, so yes SAT2 = 0 Premine and only 7.7 mill coins, prise rise is only investors wise gathering all the SAT they can before the change. |
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 ANNOUNCEMENTSummarized versionThe moment we all have been waiting for is here! We can finaly release the news about what we have been working on  Since many of you don't like to read through large chunks of text, we will start off with a summary, followed by a separate post with the full version (and we highly encourage reading it, as it's pretty awesome). - SAT˛ supply: in May the total supply of SAT was reduced to 7.77bil, without major announcements or development plans. SAT˛ is a completely new project, by a new development team wanting to introduce new technologies in the blockchain using SAT˛ as the core. To make the coin more suitable for trading by not being a ‘penny-alt’, total supply of SAT˛ will be reduced to 7.77 mil, so 1/1000 of the current total supply.
- Automatic Transition to SAT˛: after explaining our future plans to Mintpal and Cryptsy, they agreed with us to do the move to SAT˛ as simple as possible, giving everyone the time to be ready. On Monday 30th June 2014 (exact time to be specified) all the SAT coins on Mintpal and Cryptsy will be moved to SAT˛ at the same rate of new supply (1 SAT˛ will be worth 1000 SAT), instantly ready for the completely new SAT˛ / BTC market. New blockchain will be released on Friday 27th of June to guarantee a working chain on Monday 30th June.
- Community controlled development fund: as a development team, SAT˛ is the technological base we’ll use for the future developments. To make it happen and grant a future to the coin, we’ll avoid any premine and use a development fund instead, which starts out empty and gets funded by minting rewards. The proposed development fund payout is 1% per year. This mechanism will work the same way as staking. For staking, a certain interest % gets paid based on the amount of coins that are held in the wallet in question. For the development fund for every minted block a small amount gets paid to the development fund, which will equal 1% after a year. This will grant future developments forever, not just first months, and interest to keep the projects interesting for the market, and no dumps will be possible.
- Future developments: The codebase for Saturn˛Coin is completely ready to go, developers have finished it completely. Most of the steps we are taking today, are mainly focused on creating a new, stronger foundation based on a new codebase and new team. This safeguards the future of Saturncoin, and the new codebase enables us to build new features and innovation on top of it. But there’s more, because we have not only been focusing on the switch to the PoS blockchain. We have also been actively working on new unique features. The features that are being worked on are strongly geared towards real-world adoption, for usage by anyone online (including those who don’t use crypto directly at all).
- Original SAT premine: old dev is not involved at all in SAT˛ and actually left months ago, with all the premine. We first released new wallets with a block in the code to lock the two wallets with the original premine, it worked out but then with the help of Cryptsy and Mintpal (our main exchanges) we discovered that premine was already sold on markets back in March. That means that our block worked out but was not needed anymore because the coins were back on the market. New SAT˛ will have no premine (see Point 3).
- New website: Today we are also launching the new website for Saturn˛Coin http://saturn2.co.in . The new website is based on the new branding and design of SAT˛, to underline once again that this is a completely new coin.
- Last 24h price of SAT: many asked about the price increase of the last 24h of SAT. An important factor to keep in mind is the fact that last month the total supply of Saturncoin was heavily reduced (from 50 billion coins originally, to 7.77 billion coins currently). Until now, it did not affect the price, since at the time we had not yet made these publications about our developments. Essentially that means that the price per Saturncoin has been heavily undervalued lately. And now that we get to release this news and publically display our commitment, the price increase is simply a correction based on the fact that on the one hand the supply was heavily reduced, and on the other hand because we are reestablishing faith with all the developments we are making.
- Saturn˛Coin Secifications:
- PoW/PoS hybrid
- Initial supply: 7,777,777 coins
- Initial supply will be used to exchange SAT to SAT˛ (at a rate of 1000 SAT = 1 SAT˛)
- NO premine
- NO IPO
PoS:
- First year: 10% interest per year
- Second year: 5% interest per year
- Third year onwards: 2.5% interest per year - Minimum stake age: 10 days
- Maximum stake age: 20 days
- Block target: 20 seconds
- Development fund: 1% per year
PoW:
- 10 SAT˛ per block
- Reward halving every week
- Block target: 80 seconds
- PoW gets cut off at block 21600 (which should take about 20 days)
Note: this will only be a very short PoW stage, which has a minimal impact on the total supply. The reason we need a PoW phase is because the minimum stake age is 10 days, so no staking will occur during the initial 10 days. During that time we need PoW to keep the blockchain moving. We have decided to let the PoW last for approximately 20 days, to ensure it covers the (theoretical) maximum stake age. After 20 days there is 100% certainty that staking will be taking place, and at that stage PoW will simply no longer be necessary.
With these new specifications we will be holding true to the original values of Saturncoin: speed.
lets show to the cryptoworld a Real Cryptocurrency ! ill be huge  |
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fresh from mintpal IRC :
<@MintPal-Jay> Just wanted to inform that tomorrow we will be converting the ECC, MRC, SAT, TOP and ZEIT markets to LTC pairings. The BTC markets will be closed once the LTC markets are running tomorrow.
SAT will not be moved to LTC at MintPal, in light of the upcoming transition which will be taking place soon. Previously Mintpal had not yet been briefed about the specifics of our plans, mainly because we felt like it would be unfair if specific parties would be informed before the public announcements. Mintpal has now been informed about the general outline of our plans, and they have therefore agreed to not change the existing SAT/BTC trading pair. We will release the detailed announcement of our plans, as well as the timeline, within 24 hours. A lot of good things to come Real congratulations to the Saturncoin2 Team, the hard work involved in this coin will be apretiated soon by the markets |
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Announcement!
As promised, the encrypted messaging update will be released within ten to fourteen days. Included in this release is a one of a kind robust encrypted messaging system that is a first in crypto-currency. This system is a framework or protocol within the wallet that allows applications to be built upon it as needed by users. The release will have applications already built upon this framework, these applications will position CINNI as the leading crypto-currency in point of sale systems for both eCommerce and brick and mortar stores. (screen shots of the updated GUI will be available this week)
Included in this release are essential tools to conduct secure encrypted point of sale commerce and are all a first in crypto currency:
1) Encrypted messaging system in client with wallet to wallet messaging platform.
2) Encrypted order form sent wallet to wallet.
3) Encrypted invoice generation sent wallet to wallet.
4) Encrypted receipt delivery sent wallet to wallet.
Future release...est 3-6 weeks.
1) Combined wallet for both BTC and CINNI with multiple currency exchange rate support. (this will be the first ever in crypto-currency and will assist point of sale)
2) In wallet chat room.
Future release...est 4-14 weeks. (With this release we will become the best option in crypto-currency as a point of sale solution)
1) A second wallet designed as a "retail wallet" in addition to the "consumer wallet". This wallet is designed specifically for retail eCommerce businesses and is built on the encrypted messaging platform. (this will be the first "retail wallet" ever in crypto-currency and will lead to rapid merchant adoption of CINNI as a form of payment.)
2) Inventory management system for tracking supply in wallet client.
3) SKU number assignment with SKU pricing in wallet client.
4) Full receivables and reporting features in wallet client.
5) QR code generation in wallet client.
6) Export option into accounting software (i.e. Quickbooks, ect.)
Future release...est 12-18 weeks. (This will be an update on the routing of encrypted messages)
1) Optional anonymity features for "consumer wallet". This would allow for anonymity or (dark) send features similar to DRK coin or XC coin system.
2) Optional anonymization of data and messages. This system will use "messagenodes" combined with "masternodes" in the dark send feature. The "messagenodes" and "masternodes" will be paid in transaction fees and will be required to provide "proof of stake" by holding CINNI in wallets developing coin age (more details will follow).
Darkcoin and XC coin only anonymize half of the transaction (the actual transfer of payment). The communication between buyer and seller is left wide open and can be intercepted by a third party. There are ways to mitigate the communication risk however the communication risk to anonymity remains more significant than the payment risk to anonymity. The system being developed at CINNI will use the encrypted messaging system to allow CINNI to become the first ever completely anonymous transaction system.
interesting, keeping a close eye |
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Bookmarked and changed signature to get the coins.
cool address: CdxWPS31WRgGRdR9vWuQjF2D5chbYzPSmY
thanks.
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We are continuing our test to discover the best solution for the POS update,
Saturncoin project is community driven, open source code,
With the help of a team of experienced altcoin devs, we are looking into it.
Every coin you now have will become a POS Saturn coin one way or another,
Devs are looking into the best way to proceed, bright future ahead.
Thank you for the news Any updates on the PoS changeover or MP status? We are waiting for Bob and Kryptic update, i see altoutlet changing their page design and working on the site, hopefully saturncoin is already accepted as direct payment as soon as they're back i want to share directly with a charity and buy stuff. we need a reedit moderator, please pm me |
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CRYPTOCURRENCY "THE ALT-ERNATIVE" REFERENCE BOOK I have written the two preliminary pages for Saturncoin SAT. I need help from the Saturncoin Community in order fully complete it. I want important points included. Any further suggestions are welcome. Please consider donating towards the future publication of the book. I expect it to be published in the summer. Donation address: Sakz565wSkTjimCk3MdzCwBvPpoJRZnnKP  Nice, please update saturncoin site to : http://saturncoinfoundation.org Coinmarket link updated already as well 3 more days to be accepted as a valid payment sytem at https://altoutlet.com/alt/currenciesLets keep up with voting, great job everyone! |
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Whilst waiting for the major move-over come May 1st, for the fun of it I just Linux-compiled my Sat wallet from source. So I've some info to share. Sync is very OK and blocks are moving.
protocolversion : 2000000, walletversion : 60000,
Hard coded nodes if you need them;
addnode=107.2.184.151:10017
addnode=31.128.130.2:10017
addnode=72.24.164.159:10017
addnode=23.252.113.113:10017
addnode=95.95.171.218:10017
addnode=54.201.183.106:10017
addnode=84.27.142.184:10017
addnode=50.154.163.162:10017
addnode=79.2.196.206:10017
+1! ive had to go out of the city coz a family issue, im coming back tomorrow wednesday to continue as is hard to get internet working in here. Cheers! |
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Hello, I saw on coinmarketcap.com when you click on "saturncoin" the website is saturncoin.net but it seems to be an old website and not updated, instead of saturncoinfoundation.org
We will look into it just sent them a message asking for an update of the link to the www.saturncoinfoundation.org |
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MINTPAL is going crazy !! already 10 satoshis  EDIT : 11 by the time i wrote my message it's only natural, with sat scarcity the multipool could take it way high, and devs releasing the wallet sooner than the announced date its even better |
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The First Saturncoin Multipool http://sat.multipool.linkFees: 1% shared to the top 10 richest Saturncoin Wallets and Pool Dev. Donation Fees: (Voluntary) shared with a selected Charity. Status: Closed Beta. Estimated Release: Immediately After the Saturncoin POS Update. |
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Status Update:
Ads campaign: ON
Giveaways: ON (for 2 months non stop now)
Facebook Network: Active and growing
Twitter Network: Active and fast growing
Reddit Network: Active with slower growth.
G+ Network: Active with slower growth.
Causes: 3 Actives, 1 petition fully filled. (gettup has been named facebook moderator and keeps inviting people to support our great causes) (will add new cause this coming week)
Projects: MovieJump starting to work on the new Saturncoin video Today (Friday), Devs are working on the POS wallet update (maybe will be ready before the release date for the feedback ive had so far), Kryptic already working in the multipool (new info in 1 - 2 hrs), Altoutlet.com voting continues (Top 3, more than 1000 votes) so soon we will open our first market where you can buy with your Saturncoins.
Coin Advantages: 2 Confirmations required for transaction, after the POS it will become the fastest POS coin, No errors in Network nor wallet or resources at all, quality, scarcity (10 billion cap only vs 50 billion cap average of other POS), aims to become the Bitcoin Bronze.
Extra Updates: Allcrypt.com exchange added us yesterday without being in the voting list, swiccex should have Saturncoin added real soon, coinedup votes keep getting higher, coinano votes keep getting higher, petitions sent to some merchants.
Charts: Saturncoin Suprised the market making a 1500% growth and consolidating around the 5-7 (500 - 700%) growth over the week, sitting at a 5 floor (mintpal) and at 6 floor (cryptsy) at the moment of this writing, with previous month dancing between the 1-2-3, making the Saturncoin Charts one of the healthiest in the Alt Currencies World.
Congratulations for all the hard work!
P.S: adding the update to the foundation timeline.
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Im in talks with Kryptic, we should have more info about the multipool soon, keep up the votes at altoutlet.com we have remained in the top 3 and keep growing, we should be accepted there and soon will be able to buy a lot of stuff with our Saturncoins, Yay!
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We are very excited about the renewed interest in Saturncoin. With over 150 BTC trade volume in the last 24 hours, the community has stepped up behind this coin.
We have started testing of the new code base and have set a preliminary release date of 5/1/2014.
This change will lower the max money supply to 10 billion.
Implement a 1% POS inflation
Update Graphics in all releases.
We will update once the new code base has been thoroughly tested.
Please share any thoughts or concerns you may have with this new update.
Once everything is ready the dev team will contact the exchange, pools etc to verify they have updated.
I like the idea of a 1% POS inflation rate. Kudos!!!! i like the POS for being friendly with the enviroment too! +1 Edit: 290 btc volume atm, and just checked and Saturncoin has remained as top coin at coinwarz too +1 cant wait! way to go I am working with a friend in making a distribution webpage, we will be able to rank for top wallets or richest Saturnians Maybe we should think of making a multipool to have it ready for when the POS update comes alive, this way we will be able to mine any other profitable cryptocurrency, sell it and buy saturncoin from the market to pay miners when it becomes only POS, creating a constant buy support by the pool, we could use the fees from the pool to give half of them to the ones that develop and top 10 or 20 Saturnian wallets (as incentive for their work and to hold) and the other half of the fees could go to the causes we support or the new ones or charities what do you think? |
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Remember to send some donations to the Foundation Fund: SRW2dgjcTJu328G2cDZGhpmAasgAAZbDsY
This may be the last time we have cheap SAT to buy up.
Sent §1'000,000 Saturncoins to the Foundation tx id: 9a934d4041b95ef4b63cabbbb793d952f9f9096c82fed8f7d2a6e667a2eddd33 Remember to keep voting for wider adoption: https://altoutlet.com/vote/SAT+1 on the Pos change! |
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Community call!  Soon we will be able to buy cameras, computers, cell phones, electronics, video games and more! with Saturncoins! Altoutlet.com added Saturncoin on their voting list, thanks to our continued efforts. Let's vote for wider adoption!  https://altoutlet.com/alt/currenciesThanks Altoutlet and Saturncoin Community! |
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