[ANN] Expanse (EXP) - 1st Stable fork of Ethereum (New Algo + PirlGuard)

[losmilos]

Can someone answer my question about the 10 million premined coins? Who owns them, why are those idle, and what are the plans to do with them?

If those coins will be brought to market, it will have a big influence on the price compared to the 1 million coins which are available for trading at the moment.

They have not been touched, they are in cold storage. There will be a smart contract that will lock them up implemented soon. (The contract code is already made)

The way the smart contract works is that it makes them impossible to move for 90 days, and that is 90 days from when the contract is unlocked, and the unlocking is public. This will give us time to get the DAO coded, and make people feel more safe.

Homestead is coded and being updated at a certain block, and I believe after that the test contract goes in, we test that a couple days, and then the time lock contract for the 10 million goes in and then people can feel extra safe. Although the team is public and clearly we are in this for the long run, I think it is crucial that smart contracts are implemented to make people feel even more secure.

Thank you for your answer.

I have no problem with coins being premined for compensating the devs. But it should be communicated openly who owns how many coins. Now it raises doubts. In example it's public knowledge Vitalik owns +600K ETH. No problem, it's well deserved. But if he would have kept it a secret, it could have been a problem when someone found out about it. So it would be wise to communicate who owns those coins and what will happen to them and in which time frame.

It would also be smarter to lock them up in smaller parts. If a contract for 10 million coins is unlocked, the price will plumbed instantly. Those 90 days will have no effect on that. When the announcement is made that the contract for the release of 10 million EXP will be unlocked, all investors will drop the coin and the coin is dead. As long as this is not sorted out it is also a big reason for investors not to invest in EXP. I'm already regretting my investment, because I didn't know this upfront...

I agree.
Perhaps set up in 100x 100k EXP blocks locked in individual time locked contracts. This way, they can be unlocked in 100k tranches, used sparingly, and it wont cause the same level of panic.

The way the DAO works is that about 1% max could be used per month, so there would always be some of the community fund left even if people are voting to use it every month. After the time lock contact is over, it would be replaced with DAO contracts right away, at the same time. We have been working on this for 7 months, and we have around 30k followers combined on social media, we are not anonymous at all, and this is a very serious project. If people want to get in early this might still be the time, if they want to wait that is also an option. If does take time to develop, but I think we have shown that we are very capable of growing the project, and so far I think most people have been pretty happy with the results.

It may be helpful to those new to expanse if this were more obvious - is there some ELI5, in particular on the coin issuance from the 10M,  the structure of the 10M contract, and what will be happening to the 770k - is this covered by contract also?
Thanks again.

Also, regarding PoS can I go and grab 1250 EXP and stake it like I will be able to with

The 770k remaining is the team fund that we use sparingly, if you compare to some other projects they use far more than us and run out of funding quickly. We had no ICO and the only payment any devs get is from building up the value. We started at the bottom literally, and have been building it up. To be frank, we want to spend as little as possible so we can stake our coins in the future as we believe in the project, and ideally, I think we can potentially build to a marketcap in the millions. The announcement does detail that the 1 million for the team would be used over 1 year, and it has been around 7 months, so we are under budget if anything. We also never dump coins and we care greatly about building up the value.

The 10 million community fund will be totally controlled with smart contracts and only used as desired by the community at large. If you check the white paper we go into detail about the safeguards and limits. The short version is that the smart contracts will greatly limit the amount that can be released, and this means that even if the community votes poorly, it is possible to correct as there would be time to notice poor spending votes.

http://www.expanse.tech/docs/whitepaper-draft.pdf

As for Proof of Stake, that will come either after ETH goes POS and we will use the same implementation, we might go hybrid, and I know another coder with an option that might compete with Casper and that could be very revolutionary. We are still in talks and discussion about this. I am in favor of it as it could give us a huge competitive edge that might surprise many, but regardless, some form of proof of stake will happen in time.

A new website is coming by the way, and an announcement for the new team members joining. New videos. Much is in progress. I also think as we actually used less funding that we said we would that shows that we are very committed to the project long term. This is something we really love doing, and I am confident in time we will win over most people with any doubts.

Thanks a lot for your detailed reaction.

I thought someone found a wallet with 10M coins and nobody knew who owned it...

But if I understand it correctly, the the 10M coins are no secret and will be distributed in the future by the community using smart contracts? And 1 million coins for the organisation/dev team?

If so, you made me happy about my EXP again:)

[peterepeat]

So 230k of EXP has been sold so far to fund the development team + 770k + a voted on amount capped at 1% of the residual 10M monthly over time as they need it + the 8 EXP per block that are mined.
"out there" are presently only 230k EXP + whatever has been mined so far.
Happy with that.

[Daveeoff]

I'm not sure what i need to do to run a wallet for Expanse .I'm running  windows 10 pro and able to mine using Ethminer-opencl-0.9.41 on supernova's pool .I just can't figure out how to set up and run the wallet I downloaded "Gexp.exe" not to sure what it is that i need to do from there. So for now iv been sending all of the my mined EXP to my wallet on Bettrex are there any good links how how to set it up

[techbytes]

I'm not sure what i need to do to run a wallet for Expanse .I'm running  windows 10 pro and able to mine using Ethminer-opencl-0.9.41 on supernova's pool .I just can't figure out how to set up and run the wallet I downloaded "Gexp.exe" not to sure what it is that i need to do from there. So for now iv been sending all of the my mined EXP to my wallet on Bettrex are there any good links how how to set it up

There is a version for Windows at the Expanse official website.  Just click on my signature.   


-tb-

[peterepeat]

I'm not sure what i need to do to run a wallet for Expanse .I'm running  windows 10 pro and able to mine using Ethminer-opencl-0.9.41 on supernova's pool .I just can't figure out how to set up and run the wallet I downloaded "Gexp.exe" not to sure what it is that i need to do from there. So for now iv been sending all of the my mined EXP to my wallet on Bettrex are there any good links how how to set it up

There is a version for Windows at the Expanse official website.  Just click on my signature.  


-tb-

To others who are trying to run the wallet - note you need to first run gexp.exe, and accept the terms and conditions.
then run the wallet and click new account. (took me a few attempts to work this out) 

[defaced]

Upgrade to Network Hotfix v1.3.5

• https://github.com/expanse-project/go-expanse/releases/tag/v1.3.5
• https://github.com/expanse-org/gexp-builds/tree/master/gexp1.3.5

[ocminer]

Upgrade to Network Hotfix v1.3.5

• https://github.com/expanse-project/go-expanse/releases/tag/v1.3.5
• https://github.com/expanse-org/gexp-builds/tree/master/gexp1.3.5

Suprnova is updated

[solid12345]

"Vitalik owns +600K ETH"

He owns far far more than that m8.

What I always found suspicious is that polo which is the market mover for ETH has generally never had more than 300-500k ETH for sale out of a supply of 70 million. I mean I know there are surely some strong hodlers out there but really, only .5% of the supply is being actively traded? Kraken has only 18% of the daily trade volume so it can't be much more either.

[DestinyTeam]

https://i.imgur.com/MSvLXWo.jpg
https://i.imgur.com/xD0c2Uo.jpg
https://i.imgur.com/S3M16ls.jpg

https://bitcointalk.org/index.php?topic=1370260.msg14126745#msg14126745

[losmilos]

"Vitalik owns +600K ETH"

He owns far far more than that m8. The distribution and how they spent all their funding was so opaque, whenever they run out the first time, Vitalik created a special blog post to say "we are now returning to transparency" lol wtf. Conveniently NOW they are returning to transparency. Vitalik is a terrible liar and uses specific language in his blogs and such if you catch it. He slips alot when he is doing dishonest shit. For instance when talking about the premine he repeatedly said "there is no more than 0.1% in a single account" However he NEVER says no one got more than that, because the simple fact of the matter is THEY DID get WAY more than that about 90% of the entire supply of the IPO is theirs ( 12 of which they put into a smart contract and already depleted). They frontrun EVERY rally. The last last rally when it started to dip they post "we now have funding for the next 4 years!" Thats great lol. Before this rally to 0.03 they were front running the microsoft news and sent over 1.2 MILLION eth from presale wallets, all in even increments. Nearly 80% of the ethereum presale wallets go untouched. But how can this be?!?! There is no way for hundreds of people to coordinate enough to keep 90% of the supply off the market. Id say nearly all of that is owned by the eth devs, a small portion people dont know how to deem, and another small portion people are locked out because their passwords are wrong. Dont get me wrong, I love the ethereum technology which is why I support expanse so much, however ethereum devs have profit first and foremost on their minds and the science comes second. Ether is for the eth devs and banking private networks and expanse is for everyone.

Thanks for sharing the info! I didn't know this, but I already had the feeling the ETH market is manipulated. The volumes are crazy and sometimes buy or sell walls appear which are over 1,000 btc. Once I even saw a sell wall of 1,700 btc. I thought there had to be some really big whales who bought in, now I know where they are coming from.

At the moment the ETH market is also behaving strange, the buy volume is huge, but there are not so many big trades anymore as there used to be when the volume was much lower...

[leigh2k14]

https://bitcointalk.org/index.php?topic=1370260.msg14126745#msg14126745

Nice, glad I bought some.

[kahir]

https://twitter.com/ActualAdviceBTC/status/706923443795537920

prepare your suits for moon

[Haunebu81]

https://twitter.com/ActualAdviceBTC/status/706923443795537920

prepare your suits for moon

Because that guy said so? Damn, I'm buying all I can.

[dream7000]

Waiting for a sign that the summer sky 

[MikroTik]

IBecause that guy said so i`m buying his last call was about fct and was excellent.

[leigh2k14]

https://twitter.com/ActualAdviceBTC/status/706923443795537920

prepare your suits for moon

He's riding the eth train instead: https://twitter.com/ActualAdviceBTC/status/707181329801093120

[solid12345]

https://twitter.com/ActualAdviceBTC/status/706923443795537920

prepare your suits for moon

He's riding the eth train instead: https://twitter.com/ActualAdviceBTC/status/707181329801093120

He's a big-time manipulator anyway, probably dumped on everyone who bought after his tweet, better without him.

[dream7000]

Expanse price consolidation and now going up. 

[CryptoClub]

https://twitter.com/ActualAdviceBTC/status/706923443795537920

prepare your suits for moon

He's riding the eth train instead: https://twitter.com/ActualAdviceBTC/status/707181329801093120

He's a big-time manipulator anyway, probably dumped on everyone who bought after his tweet, better without him.

Who knows. Sometimes people say they are selling when they are trying to buy more, I mostly ignore advice like that. I find it it is better to trust my own research than trolls or twitter personalities.

[FeelTheBern]

Ok I'm here, I read up on some Expanse stuff and seeing as Ethereum itself is hugely complex, whats Expanser offer that Expanse offers that Ethereum does not?

SELL ME! might pick some up on payday already, just looking for some more feedback.