[ANN][ParkByte][PKB][Electrum] Pure POS

[tyz]

I suggest to do the following two steps in order to let the coin survive:

1) change the algorithm from sha256 to X11, X13, etc.

2) increase the amount of coins. 20% premine is not acceptable for most miners. increase the total amount to 100 mln or 1 bln and you have 2% / 0.2% premine.

[1714937119]

1714937119

[1714937119]

1714937119

[ParkByte]

I suggest to do the following two steps in order to let the coin survive:

1) change the algorithm from sha256 to X11, X13, etc.

2) increase the amount of coins. 20% premine is not acceptable for most miners. increase the total amount to 100 mln or 1 bln and you have 2% / 0.2% premine.

Suggestions taken onboard but I don't see the benefit of changing the algorithm nor do I wish to decrease the premine percentage, it is 25m Max coins/10m POW and 2million/20% of the POW/8% premine for a reason

Decreasing the premine %age for the short term benefit to keep day traders happy would be damaging to the long term plan of this coin, a plan which will become clear later down the road.

[stormia]

Escrowing the premine although sounds a good idea, the only person I trust with 2m PKB is myself (like most people would)

There is no reason for anybody to trust you with 20% of the coin supply. Good luck...

Crypto is full of great ideas that are destroyed by greed.

[stormia]

If you think every coin that has a premine is a scam then I do believe you are wasting your time here in the altcoin announcement section, especially in a thread that clearly states a premine in OP and PRE-ANN.

I never said that, so don't put words in my mouth. How about you go back and actually read what I said. A 20% premine is a lot more than, for example, the 0.5% premine that Geocoin has and is doing amazing developments with. Funny thing is, that 0.5% will probably end up being worth more than your 20% because you having a 20% premine will prevent this coin from gaining the value it otherwise could. Name one successful coin with a 20% premine. I'll be waiting.

[ParkByte]

Escrowing the premine although sounds a good idea, the only person I trust with 2m PKB is myself (like most people would)

There is no reason for anybody to trust you with 20% of the coin supply. Good luck...

Crypto is full of great ideas that are destroyed by greed.

Agreed, there is no reason for anybody to trust me with 20% of the coin supply, never said there was, I will rephrase it to as most people would only trust themselves with 20% of the coin supply.

If you think every coin that has a premine is a scam then I do believe you are wasting your time here in the altcoin announcement section, especially in a thread that clearly states a premine in OP and PRE-ANN.

I never said that, so don't put words in my mouth. How about you go back and actually read what I said. A 20% premine is a lot more than, for example, the 0.5% premine that Geocoin has and is doing amazing developments with. Name one successful coin with a 20% premine. I'll be waiting.

I am sure Geocoin doesn't have the same plan as me, and therefore doesn't need such a big premine.

Come back in say 6 months and I will show you a successful coin with a 20% premine, it will be called ParkByte and you will probably use it to pay for parking.

[stormia]

I am sure Geocoin doesn't have the same plan as me, and therefore doesn't need such a big premine.

Come back in say 6 months and I will show you a successful coin with a 20% premine, it will be called ParkByte and you will probably use it to pay for parking.

"Please note, there are no partnerships/contracts/support at this present moment from any parking related company and I do not intend to build a $100k backend system; that will be for the marketplace/parking companies to build."

If you aren't building the backend, can you at least elaborate as to why you "need such a big premine"?

[ParkByte]

I am sure Geocoin doesn't have the same plan as me, and therefore doesn't need such a big premine.

Come back in say 6 months and I will show you a successful coin with a 20% premine, it will be called ParkByte and you will probably use it to pay for parking.

"Please note, there are no partnerships/contracts/support at this present moment from any parking related company and I do not intend to build a $100k backend system; that will be for the marketplace/parking companies to build."

That was put there because in the Pre-Ann someone kept asking about seeing signed contracts and how do I intend to build a system that would cost $100k to build an alpha version

It is true, there is no need to build a $100k backend system when current parking operators have systems already in place, and the idea of the ParkByte app is so they can integrate it into their existing webservices.

However, there will be a basic system built, it just won't cost $100k.

If you aren't building the backend, can you at least elaborate as to why you "need such a big premine"?

That information will come later on when I have actual information to give.

[subseaguru]

Op, about your wallet. does it stake automatically upon opening? how many coins need to be in the wallet for staking to start?

[kryptologist]

ridiculous premine, goodbye

[ParkByte]

Op, about your wallet. does it stake automatically upon opening? how many coins need to be in the wallet for staking to start?

1 coin is the minimum, If the wallet is unencrypted it will stake automatically, if its encrypted you need to unlock it for staking first.

[subseaguru]

Op, about your wallet. does it stake automatically upon opening? how many coins need to be in the wallet for staking to start?

1 coin is the minimum, If the wallet is unencrypted it will stake automatically, if its encrypted you need to unlock it for staking first.

thanks

[ParkByte]

Well, here is an update before I head to bed,

Hopefully this will prove those app screen shots in the OP aren't just to make it look pretty and there is actually an app being developed.

API server is setup, you can see me changing the SQL database the app is accessing.

I have added in the ANPR and QR scanner modules and tested they activate on call, but I need to get a Android phone for Dev purposes or a webcam before I can enable and test their full functionality.

** Video updated http://youtu.be/rpOS8Ye5rqk

Comments on the design would be appreciated as I am not 100% happy with it, but will work on functionality rather than attractiveness at the moment.

[donnyespo]

Well, here is an update before I head to bed,

Hopefully this will prove those app screen shots in the OP aren't just to make it look pretty and there is actually an app being developed.

API server is setup, you can see me changing the SQL database the app is accessing.

I have added in the ANPR and QR scanner modules and tested they activate on call, but I need to get a Android phone for Dev purposes or a webcam before I can enable and test their full functionality.

https://youtu.be/uU3YbzeJZpM

Comments on the design would be appreciated as I am not 100% happy with it, but will work on functionality rather than attractiveness at the moment.

Wow looks good id say this one is definitely overlooked at the moment.  In the meantime ill be buying/mining.

[ParkByte]

Well, here is an update before I head to bed,

Hopefully this will prove those app screen shots in the OP aren't just to make it look pretty and there is actually an app being developed.

API server is setup, you can see me changing the SQL database the app is accessing.

I have added in the ANPR and QR scanner modules and tested they activate on call, but I need to get a Android phone for Dev purposes or a webcam before I can enable and test their full functionality.

https://youtu.be/uU3YbzeJZpM

Comments on the design would be appreciated as I am not 100% happy with it, but will work on functionality rather than attractiveness at the moment.

Wow looks good id say this one is definitely overlooked at the moment.  In the meantime ill be buying/mining.

Thanks, here is another quick one (last one for a while): ** Video updated http://youtu.be/rpOS8Ye5rqk

QR Code sets server and ID which then makes a call to the server and gets car park information then the tariff.

tariff is then displayed as buttons and Car Park name is displayed, pretty simple from there, afterall the app is only going to receive "dumb" json strings

Getting the server to issue the correct json strings at the correct times and the wallet integration will be abit more complex

[donnyespo]

whats the max number of pow blocks?

[ParkByte]

whats the max number of pow blocks?

88900

[notsofast]

I suggest to do the following two steps in order to let the coin survive:

1) change the algorithm from sha256 to X11, X13, etc.

2) increase the amount of coins. 20% premine is not acceptable for most miners. increase the total amount to 100 mln or 1 bln and you have 2% / 0.2% premine.

Suggestions taken onboard but I don't see the benefit of changing the algorithm nor do I wish to decrease the premine percentage, it is 25m Max coins/10m POW and 2million/20% of the POW/8% premine for a reason

Decreasing the premine %age for the short term benefit to keep day traders happy would be damaging to the long term plan of this coin, a plan which will become clear later down the road.

Dev, if I were you, I would discard both those suggestions. Though it seems like you're only entertaining them out of politeness.

There is never a reason to change a coin's mining algorithm if it will eventually be a PoS-only coin.

Causing orders of magnitude of inflation like tyz suggested is guaranteed to destroy the delicate economic value of a PKB.

In a sea of garbage/scam altcoin releases of late, I'm just trying to protect potentially decent ones like PKB from a base of inept mine-early-and-dump "strategists" nakedly petitioning any coindev who speaks in-thread to entertain poor mining-related ideas that would obviously only benefit unskilled miners.

[ParkByte]

I suggest to do the following two steps in order to let the coin survive:

1) change the algorithm from sha256 to X11, X13, etc.

2) increase the amount of coins. 20% premine is not acceptable for most miners. increase the total amount to 100 mln or 1 bln and you have 2% / 0.2% premine.

Suggestions taken onboard but I don't see the benefit of changing the algorithm nor do I wish to decrease the premine percentage, it is 25m Max coins/10m POW and 2million/20% of the POW/8% premine for a reason

Decreasing the premine %age for the short term benefit to keep day traders happy would be damaging to the long term plan of this coin, a plan which will become clear later down the road.

Dev, if I were you, I would discard both those suggestions. Though it seems like you're only entertaining them out of politeness.

There is never a reason to change a coin's mining algorithm if it will eventually be a PoS-only coin.

Causing orders of magnitude of inflation like tyz suggested is guaranteed to destroy the delicate economic value of a PKB.

In a sea of garbage/scam altcoin releases of late, I'm just trying to protect potentially decent ones like PKB from a base of inept mine-early-and-dump "strategists" nakedly petitioning any coindev who speaks in-thread to entertain poor mining-related ideas that would obviously only benefit unskilled miners.

I couldn't agree more, and yes I was just entertaining them out of politeness

There are no plans, and will be no plans to change the coin in this way, or infact at all (yes there will be wallet updates but no big changes)

The only development needed at the moment is to get the APP ready so the concept can be demonstrated to parking companies, when this happens the plan for the premine will become clear.

Thanks for the support guys (that also goes for those who won't mine it/support it because of the premine, you just give me more motivation to prove you wrong )

[minerjoen]

I suggest to do the following two steps in order to let the coin survive:

1) change the algorithm from sha256 to X11, X13, etc.

2) increase the amount of coins. 20% premine is not acceptable for most miners. increase the total amount to 100 mln or 1 bln and you have 2% / 0.2% premine.

Suggestions taken onboard but I don't see the benefit of changing the algorithm nor do I wish to decrease the premine percentage, it is 25m Max coins/10m POW and 2million/20% of the POW/8% premine for a reason

Decreasing the premine %age for the short term benefit to keep day traders happy would be damaging to the long term plan of this coin, a plan which will become clear later down the road.

Dev, if I were you, I would discard both those suggestions. Though it seems like you're only entertaining them out of politeness.

There is never a reason to change a coin's mining algorithm if it will eventually be a PoS-only coin.

Causing orders of magnitude of inflation like tyz suggested is guaranteed to destroy the delicate economic value of a PKB.

In a sea of garbage/scam altcoin releases of late, I'm just trying to protect potentially decent ones like PKB from a base of inept mine-early-and-dump "strategists" nakedly petitioning any coindev who speaks in-thread to entertain poor mining-related ideas that would obviously only benefit unskilled miners.

I couldn't agree more, and yes I was just entertaining them out of politeness

There are no plans, and will be no plans to change the coin in this way, or infact at all (yes there will be wallet updates but no big changes)

The only development needed at the moment is to get the APP ready so the concept can be demonstrated to parking companies, when this happens the plan for the premine will become clear.

Thanks for the support guys (that also goes for those who won't mine it/support it because of the premine, you just give me more motivation to prove you wrong )

First of all, i dont want to spam / fud or whatever, i want to discuse some serious things in here (because the first and last time i was trying to get more info my message get deleted) :

In what country you want people/companies to accept this coin to pay the parking?

How do you know a company will accept this way of payments? Bitcoin have a change because of the good and stable price, but why should a company work with ParkByte?
Do you have contacts with parking companies? Can u show something about that? Do you have a website from those companies what will accept ParkByte?

I hope i / we all get finally some answers ( stopped mining after i readed the first serious bad posts on this topic, so i am not in for this coin, but i am just wondering, and i think other people also wanne read the answers on my questions, if you delete it, i will post again )

[ParkByte]

First of all, i dont want to spam / fud or whatever, i want to discuse some serious things in here (because the first and last time i was trying to get more info my message get deleted) :

In what country you want people/companies to accept this coin to pay the parking?

How do you know a company will accept this way of payments? Bitcoin have a change because of the good and stable price, but why should a company work with ParkByte?
Do you have contacts with parking companies? Can u show something about that? Do you have a website from those companies what will accept ParkByte?

I hope i / we all get finally some answers ( stopped mining after i readed the first serious bad posts on this topic, so i am not in for this coin, but i am just wondering, and i think other people also wanne read the answers on my questions, if you delete it, i will post again )

I think I did answer your posts in the PRE-ANN thread, not sure how they could be deleted by anyone other than yourself/a mod, but anyway...

I would like people in all countries to use PKB to pay for parking, the APP itself will be translated into multiple languages.

I do not know if a company will accept PKB as payment, there are no contracts with any companies at this moment (as stated in bold on the OP)

I do see a few benefits to using an alt coin rather than bitcoin.

TX Fee BTC its 0.0001BTC, PKB is 0.00001PKB (a generous saving for 1000's of daily micro payments.)
Block times, PKB is 1minute compared to bitcoins 30minute block
Users can stake their coins and earn 5%-3% annual interest on their parking change
Bitcoin doesn't have a specific target market, even though it will probably always be the leader of crypto it does have a bad image for its uses. ParkByte is specifically targeted at parking, not drugs, not anonymity and not to avoid the alphabet agencies' eyes.

ParkByte will provide and maintain a iOS and Android Apps that the parking company can control with a QR code and json strings. Making accepting crypto alot easier to integrate into their current systems while reducing their development costs.

And again, I cannot delete posts from other users on neither the PRE-ANN thread nor this thread.