[ANN] LGSPool - Fully managed staking pool - Monthly Dividends

[rdyoung]

Letsgetstaking.com the place for everything POS is proud to announce the launch of its staking pool.

Backed by a carefully selected basket of POS=Proof Of Stake coins. LGS is available on Colored Coins (Coinprism) and Counterparty (XCP)

To purchase via the crowdsale send a minimum of ฿0.001 per 0.10LGS to akMvHJb8NTjSV9LLucZxX9aMxnFQXhXQshc, we will pickup the tx fee. Those who use the NXT Asset Exchange can find us by adding the ticker "lgspool" to their asset list. LGS is divisible by 10, 1LGS is ฿0.01 0.10LGS is ฿0.001

BTC must be sent from a color aware wallet, we are not responsible for funds or assets lost due to not sending funds from a wallet that is color aware.

For more info on colored coins checkout https://coloredcoin.io/what-are-colored-coins/
You can setup a color aware with either coinprism or ghcloud

Dividends: Dividends for open assets/colored coins will paid once a month, 50% of earnings will be paid out and 50% will remain to compound.

Management Fees/Operation Costs: 2% of the total issued coins will be set aside in a dedicated asset address to cover any fees such as server upkeep, website hosting, etc. Any excess funds will be reinvested into POS coins at managements discretion.

Cashouts/Buybacks: A 5% fee will be applied for anyone contacting management for a full or partial buy back, this is to help counter the drop in dividends that will be felt by everyone still invested. It is suggested that you find a buyer either in the forums or on the GHXchange or use the direct cashout as a last resort.

More information as well as the addresses for the coins we are staking can be found on the site http://letsgetstaking.com/pool

The coins we currently list on the site are just the beginning, we also are open to suggestions as to what coins we should be supporting on both the site in the form of bootstraps as well as for the staking pool.

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[8-bit]

I like the concept of POS based coins. Nice site

[ranlo]

All I'm getting is "ERR_CONNECTION_REFUSED" when trying to load your site. Trying to see what it's all about but can't due to the error.

[Emerge]

All I'm getting is "ERR_CONNECTION_REFUSED" when trying to load your site. Trying to see what it's all about but can't due to the error.

I'm getting this as well..
Might want to fix this before asking for investors

[rdyoung]

All I'm getting is "ERR_CONNECTION_REFUSED" when trying to load your site. Trying to see what it's all about but can't due to the error.

I'm getting this as well..
Might want to fix this before asking for investors

The website is back up and running. My server guy tells me we may have a bad disk that he is going to get replaced.

I have also updated the site to reflect the addition of a few more coins to the pool. I will be updating the OP shortly with some new info as well as a small give away to get things started.

[ranlo]

All I'm getting is "ERR_CONNECTION_REFUSED" when trying to load your site. Trying to see what it's all about but can't due to the error.

I'm getting this as well..
Might want to fix this before asking for investors

The website is back up and running. My server guy tells me we may have a bad disk that he is going to get replaced.

I have also updated the site to reflect the addition of a few more coins to the pool. I will be updating the OP shortly with some new info as well as a small give away to get things started.

Can you please explain what makes this opportunity worth going after? I get that you're staking coins but why wouldn't someone just buy coins and let them stake? I'm not seeing what's new here.

[rdyoung]

All I'm getting is "ERR_CONNECTION_REFUSED" when trying to load your site. Trying to see what it's all about but can't due to the error.

I'm getting this as well..
Might want to fix this before asking for investors

The website is back up and running. My server guy tells me we may have a bad disk that he is going to get replaced.

I have also updated the site to reflect the addition of a few more coins to the pool. I will be updating the OP shortly with some new info as well as a small give away to get things started.

Can you please explain what makes this opportunity worth going after? I get that you're staking coins but why wouldn't someone just buy coins and let them stake? I'm not seeing what's new here.

If your capable of managing your own wallets then by all means, its better for the coins to be under your control. Where a staking pool like LGS is beneficial is when you want to get a piece of more than just a few coins. Most if not all POS coins have a high enough difficulty that to stake on a regular basis you need to own a sizable amount of that coin, with a pool like LGS however, you can begin earning an equal share of ALL coins that the pool supports currently and in the future, you also leave the management and maintenance of the wallets and servers up to the pool management. A staking pool also smooths out the variations in stake earnings by diversifying across a basket of coins. And as this is a fully managed pool profits from coins that see a rise in value will be split between being shared with asset holders in the form of dividends and being used to increase the holdings of other coins in the basket.

If you can handle keeping a server up and running and 10,20,30+ wallets up to date and staking 24/7, as well as have the funds to invest across the board to make a profit after overhead, then this type of service is not for you. However, if you would rather see weekly dividends that hopefully increase over time with no micromanagement or time spent on your part, then this is for you.

[ranlo]

All I'm getting is "ERR_CONNECTION_REFUSED" when trying to load your site. Trying to see what it's all about but can't due to the error.

I'm getting this as well..
Might want to fix this before asking for investors

The website is back up and running. My server guy tells me we may have a bad disk that he is going to get replaced.

I have also updated the site to reflect the addition of a few more coins to the pool. I will be updating the OP shortly with some new info as well as a small give away to get things started.

Can you please explain what makes this opportunity worth going after? I get that you're staking coins but why wouldn't someone just buy coins and let them stake? I'm not seeing what's new here.

If your capable of managing your own wallets then by all means, its better for the coins to be under your control. Where a staking pool like LGS is beneficial is when you want to get a piece of more than just a few coins. Most if not all POS coins have a high enough difficulty that to stake on a regular basis you need to own a sizable amount of that coin, with a pool like LGS however, you can begin earning an equal share of ALL coins that the pool supports currently and in the future, you also leave the management and maintenance of the wallets and servers up to the pool management. A staking pool also smooths out the variations in stake earnings by diversifying across a basket of coins. And as this is a fully managed pool profits from coins that see a rise in value will be split between being shared with asset holders in the form of dividends and being used to increase the holdings of other coins in the basket.

If you can handle keeping a server up and running and 10,20,30+ wallets up to date and staking 24/7, as well as have the funds to invest across the board to make a profit after overhead, then this type of service is not for you. However, if you would rather see weekly dividends that hopefully increase over time with no micromanagement or time spent on your part, then this is for you.

Hmm, good answer. Thanks for that!

To another question... so if we buy in through NXT (lgspool asset), how are dividends paid? Via NXT itself or through an increaes in lgspool assets?

[rdyoung]

All I'm getting is "ERR_CONNECTION_REFUSED" when trying to load your site. Trying to see what it's all about but can't due to the error.

I'm getting this as well..
Might want to fix this before asking for investors

The website is back up and running. My server guy tells me we may have a bad disk that he is going to get replaced.

I have also updated the site to reflect the addition of a few more coins to the pool. I will be updating the OP shortly with some new info as well as a small give away to get things started.

Can you please explain what makes this opportunity worth going after? I get that you're staking coins but why wouldn't someone just buy coins and let them stake? I'm not seeing what's new here.

If your capable of managing your own wallets then by all means, its better for the coins to be under your control. Where a staking pool like LGS is beneficial is when you want to get a piece of more than just a few coins. Most if not all POS coins have a high enough difficulty that to stake on a regular basis you need to own a sizable amount of that coin, with a pool like LGS however, you can begin earning an equal share of ALL coins that the pool supports currently and in the future, you also leave the management and maintenance of the wallets and servers up to the pool management. A staking pool also smooths out the variations in stake earnings by diversifying across a basket of coins. And as this is a fully managed pool profits from coins that see a rise in value will be split between being shared with asset holders in the form of dividends and being used to increase the holdings of other coins in the basket.

If you can handle keeping a server up and running and 10,20,30+ wallets up to date and staking 24/7, as well as have the funds to invest across the board to make a profit after overhead, then this type of service is not for you. However, if you would rather see weekly dividends that hopefully increase over time with no micromanagement or time spent on your part, then this is for you.

Hmm, good answer. Thanks for that!

To another question... so if we buy in through NXT (lgspool asset), how are dividends paid? Via NXT itself or through an increaes in lgspool assets?

I updated the OP to help explain how we will be tracking the various asset exchanges. I will try and sum it up as best I can here, please let me know if I need to clarify anything.
The "mother" asset so to speak will be the coinprism colored coin asset, I will be creating a dedicated asset address to correspond with NXT/XCP/whatever future asset exchange we branch into, dividends received by these addresses will then be converted into NXT for the NXT AE and distributed via the NXT platform. Right now I am scheduling the dividends for NXT/XCP/etc for monthly issuance, when the total dividends as well as per LGS are large enough I will look to process them biweekly or even weekly.
I am also planning on offering liquidity and movement between the asset exchanges, however I have a few things to work out before I can do so, not to mention we haven't paid our first dividends yet, which of course will be next sunday.

Again, please let me know if I need to clarify things.

[ranlo]

All I'm getting is "ERR_CONNECTION_REFUSED" when trying to load your site. Trying to see what it's all about but can't due to the error.

I'm getting this as well..
Might want to fix this before asking for investors

The website is back up and running. My server guy tells me we may have a bad disk that he is going to get replaced.

I have also updated the site to reflect the addition of a few more coins to the pool. I will be updating the OP shortly with some new info as well as a small give away to get things started.

Can you please explain what makes this opportunity worth going after? I get that you're staking coins but why wouldn't someone just buy coins and let them stake? I'm not seeing what's new here.

If your capable of managing your own wallets then by all means, its better for the coins to be under your control. Where a staking pool like LGS is beneficial is when you want to get a piece of more than just a few coins. Most if not all POS coins have a high enough difficulty that to stake on a regular basis you need to own a sizable amount of that coin, with a pool like LGS however, you can begin earning an equal share of ALL coins that the pool supports currently and in the future, you also leave the management and maintenance of the wallets and servers up to the pool management. A staking pool also smooths out the variations in stake earnings by diversifying across a basket of coins. And as this is a fully managed pool profits from coins that see a rise in value will be split between being shared with asset holders in the form of dividends and being used to increase the holdings of other coins in the basket.

If you can handle keeping a server up and running and 10,20,30+ wallets up to date and staking 24/7, as well as have the funds to invest across the board to make a profit after overhead, then this type of service is not for you. However, if you would rather see weekly dividends that hopefully increase over time with no micromanagement or time spent on your part, then this is for you.

Hmm, good answer. Thanks for that!

To another question... so if we buy in through NXT (lgspool asset), how are dividends paid? Via NXT itself or through an increaes in lgspool assets?

I updated the OP to help explain how we will be tracking the various asset exchanges. I will try and sum it up as best I can here, please let me know if I need to clarify anything.
The "mother" asset so to speak will be the coinprism colored coin asset, I will be creating a dedicated asset address to correspond with NXT/XCP/whatever future asset exchange we branch into, dividends received by these addresses will then be converted into NXT for the NXT AE and distributed via the NXT platform. Right now I am scheduling the dividends for NXT/XCP/etc for monthly issuance, when the total dividends as well as per LGS are large enough I will look to process them biweekly or even weekly.
I am also planning on offering liquidity and movement between the asset exchanges, however I have a few things to work out before I can do so, not to mention we haven't paid our first dividends yet, which of course will be next sunday.

Again, please let me know if I need to clarify things.

This is all really interesting to me. Time to start learning about Colored Coins. I know the basics, but back when I was really reading into them they were still just a theory, . I'll report back if i have any questions! It looks like I'll take part in this investment, to help learn about the system and such, so it's a great start.

[rdyoung]

All I'm getting is "ERR_CONNECTION_REFUSED" when trying to load your site. Trying to see what it's all about but can't due to the error.

I'm getting this as well..
Might want to fix this before asking for investors

The website is back up and running. My server guy tells me we may have a bad disk that he is going to get replaced.

I have also updated the site to reflect the addition of a few more coins to the pool. I will be updating the OP shortly with some new info as well as a small give away to get things started.

Can you please explain what makes this opportunity worth going after? I get that you're staking coins but why wouldn't someone just buy coins and let them stake? I'm not seeing what's new here.

If your capable of managing your own wallets then by all means, its better for the coins to be under your control. Where a staking pool like LGS is beneficial is when you want to get a piece of more than just a few coins. Most if not all POS coins have a high enough difficulty that to stake on a regular basis you need to own a sizable amount of that coin, with a pool like LGS however, you can begin earning an equal share of ALL coins that the pool supports currently and in the future, you also leave the management and maintenance of the wallets and servers up to the pool management. A staking pool also smooths out the variations in stake earnings by diversifying across a basket of coins. And as this is a fully managed pool profits from coins that see a rise in value will be split between being shared with asset holders in the form of dividends and being used to increase the holdings of other coins in the basket.

If you can handle keeping a server up and running and 10,20,30+ wallets up to date and staking 24/7, as well as have the funds to invest across the board to make a profit after overhead, then this type of service is not for you. However, if you would rather see weekly dividends that hopefully increase over time with no micromanagement or time spent on your part, then this is for you.

Hmm, good answer. Thanks for that!

To another question... so if we buy in through NXT (lgspool asset), how are dividends paid? Via NXT itself or through an increaes in lgspool assets?

I updated the OP to help explain how we will be tracking the various asset exchanges. I will try and sum it up as best I can here, please let me know if I need to clarify anything.
The "mother" asset so to speak will be the coinprism colored coin asset, I will be creating a dedicated asset address to correspond with NXT/XCP/whatever future asset exchange we branch into, dividends received by these addresses will then be converted into NXT for the NXT AE and distributed via the NXT platform. Right now I am scheduling the dividends for NXT/XCP/etc for monthly issuance, when the total dividends as well as per LGS are large enough I will look to process them biweekly or even weekly.
I am also planning on offering liquidity and movement between the asset exchanges, however I have a few things to work out before I can do so, not to mention we haven't paid our first dividends yet, which of course will be next sunday.

Again, please let me know if I need to clarify things.

This is all really interesting to me. Time to start learning about Colored Coins. I know the basics, but back when I was really reading into them they were still just a theory, . I'll report back if i have any questions! It looks like I'll take part in this investment, to help learn about the system and such, so it's a great start.

Great. I have a slack for coloredcoin.io that you can join to get some help or just discuss, you can get an invite from https://coloredcoin.io/join-us-on-slack/
Feel free to hit me or my business partner up with any questions about colored coins in general, he goes by lothendriel2 on our slack channel.

[ktfutura]

This is a scam and if you send coins they will be dumped.

[rdyoung]

This is a scam and if you send coins they will be dumped.

Not true at all. Why do you think its a scam?
If you look at some of the first coins I have added to the pool those coins have been staking for a very long time.
I am also willing to sign any message with the addresses of the pool to prove ownership and control.

Again, please provide a reason why you think this is a scam or kindly leave.

[rdyoung]

Our first dividends have been processed.
0.00008/LGS for colored coins/open assets.
https://www.coinprism.info/tx/98cacde80262f8ad87eb5685b255a2d96c402c8b6955d8f297c16b5b3f43d1a5

I have reduced the reinvest % to 50 and it will stay there for the time being. I have also added the BTC address and link to a bot to purchase LGSPOOL on counterparty automagically.

I will be updating the site shortly to reflect the changes in reinvest and the swap bot.

[ranlo]

Our first dividends have been processed.
0.00008/LGS for colored coins/open assets.
https://www.coinprism.info/tx/98cacde80262f8ad87eb5685b255a2d96c402c8b6955d8f297c16b5b3f43d1a5

I have reduced the reinvest % to 50 and it will stay there for the time being. I have also added the BTC address and link to a bot to purchase LGSPOOL on counterparty automagically.

I will be updating the site shortly to reflect the changes in reinvest and the swap bot.

If I'm reading this right, it means ~40% ROI/yr? If so, that's awesome, .

[crazyivan]

Our first dividends have been processed.
0.00008/LGS for colored coins/open assets.
https://www.coinprism.info/tx/98cacde80262f8ad87eb5685b255a2d96c402c8b6955d8f297c16b5b3f43d1a5

I have reduced the reinvest % to 50 and it will stay there for the time being. I have also added the BTC address and link to a bot to purchase LGSPOOL on counterparty automagically.

I will be updating the site shortly to reflect the changes in reinvest and the swap bot.

How do you plan to deal with decreasing PoS price? Almost all PoS coins have been dropping for the last couple of weeks.

[ranlo]

Our first dividends have been processed.
0.00008/LGS for colored coins/open assets.
https://www.coinprism.info/tx/98cacde80262f8ad87eb5685b255a2d96c402c8b6955d8f297c16b5b3f43d1a5

I have reduced the reinvest % to 50 and it will stay there for the time being. I have also added the BTC address and link to a bot to purchase LGSPOOL on counterparty automagically.

I will be updating the site shortly to reflect the changes in reinvest and the swap bot.

How do you plan to deal with decreasing PoS price? Almost all PoS coins have been dropping for the last couple of weeks.

Good question. Also, they didn't update about last week's payout (should have been yesterday).

[rdyoung]

Our first dividends have been processed.
0.00008/LGS for colored coins/open assets.
https://www.coinprism.info/tx/98cacde80262f8ad87eb5685b255a2d96c402c8b6955d8f297c16b5b3f43d1a5

I have reduced the reinvest % to 50 and it will stay there for the time being. I have also added the BTC address and link to a bot to purchase LGSPOOL on counterparty automagically.

I will be updating the site shortly to reflect the changes in reinvest and the swap bot.

How do you plan to deal with decreasing PoS price? Almost all PoS coins have been dropping for the last couple of weeks.

This is not something to be dealt with, instead its something to take advantage of. My strategy would be to look to those coins which are able to hold a steady USD price despite their drop in BTC with the increase in BTC/USD. You might also keep in mind that everything I do is based on a longer term view of the markets as a whole. This is why LGS is carefully choosing which coins it stakes, if/when the NAV and/or the weight is thrown off by 1 or more coins having a really nice bull run we may consider taking a risk on some other coins that look like they may be underpriced or who's vision and plan isn't clear.

[rdyoung]

Our first dividends have been processed.
0.00008/LGS for colored coins/open assets.
https://www.coinprism.info/tx/98cacde80262f8ad87eb5685b255a2d96c402c8b6955d8f297c16b5b3f43d1a5

I have reduced the reinvest % to 50 and it will stay there for the time being. I have also added the BTC address and link to a bot to purchase LGSPOOL on counterparty automagically.

I will be updating the site shortly to reflect the changes in reinvest and the swap bot.

How do you plan to deal with decreasing PoS price? Almost all PoS coins have been dropping for the last couple of weeks.

Good question. Also, they didn't update about last week's payout (should have been yesterday).

Starting with the payouts for 11-30 which were paid yesterday you can keep an eye on the latest payouts at https://forum.gethashing.com/t/coloredcoin-io-assets-payout-thread/4771/148
or https://coloredcoin.io/category/payouts/

I will also be updating the OP at some point to reflect a temporary change to when dividends are processed. Due to some weird and long hours I have been working as of late I have been unable to keep LGS and my other assets up to date with the current dividend schedule. I will be moving it to either once or twice a month, until things settle down.