ANN - LEOcoin - Official announcement regarding LEOcoin from LEOcoin Foundation

[ivocoins]

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

but it has POS now, correct?

[1715255498]

1715255498

[1715255498]

1715255498

[Criptotrader]

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

[LEOcoin Foundation]

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

but it has POS now, correct?

Yes, currently LEOcoin is a POW and POS hybrid.

[LEOcoin Foundation]

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

[ivocoins]

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

This means that the premined coins will generate 70% of the new coins, and everybody else 30%. I think this is the SCAM everybody is talking about

http://explorer.leocoin.org/address/LTBeEWqwzJXAogczHXugrryNVkHCR96h4f
This is where they first gathered the premined coins, then they keep shuffling them around every week.

Now looks like the plan is to switch to POS only and keep everything from themselves. BTW, holding 50 million out of 70 million, they would have 70% of the minting power, they would be able to make a 51% attack, basically leo premine will have FULL control over the network.

[LEOcoin Foundation]

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

This means that the premined coins will generate 70% of the new coins, and everybody else 30%. I think this is the SCAM everybody is talking about

You seem to be mistaken. Please read the interview. The large majority of the premine is not longer owned by the party that premined the LEOcoins, but by members of the LEO community (and of course the LEOcoin Foundation). These members are just as much "everybody else" as those who are not a member of the LEO community.

[ivocoins]

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

This means that the premined coins will generate 70% of the new coins, and everybody else 30%. I think this is the SCAM everybody is talking about

You seem to be mistaken. Please read the interview. The large majority of the premine is not longer owned by the party that premined the LEOcoins, but by members of the LEO community (and of course the LEOcoin Foundation). These members are just as much "everybody else" as those who are not a member of the LEO community.

Or in other words you split it between multiple addresses. And now you claim it's different people holding it.
And also you claim that LEO foundation is a different entity, yet even the website uses the same template.

You have promised to emit 1 billion coins, now you change your plan or what? 5% premine turns into 70% premine? or what exactly are you saying?

Even if we did believe you, the fact remains, if you switch to POS only right now, it will be a 70% premine coin. It is a fact that only 30% of the coins in circulation are actually mined right now.
I believe a 70% premine coin is called a SCAMCOIN, especially after you launched as a 5% premine coin. That's what people bought, coins in a 5% premine. By turning it into a 70% premine you break your contract.

[LEOcoin Foundation]

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

This means that the premined coins will generate 70% of the new coins, and everybody else 30%. I think this is the SCAM everybody is talking about

You seem to be mistaken. Please read the interview. The large majority of the premine is not longer owned by the party that premined the LEOcoins, but by members of the LEO community (and of course the LEOcoin Foundation). These members are just as much "everybody else" as those who are not a member of the LEO community.

Or in other words you split it between multiple addresses. And now you claim it's different people holding it.
And also you claim that LEO foundation is a different entity, yet even the website uses the same template.

You have promised to emit 1 billion coins, now you change your plan or what? 5% premine turns into 70% premine? or what exactly are you saying?

Even if we did believe you, the fact remains, if you switch to POS only right now, it will be a 70% premine coin. I believe that's called a SCAMCOIN

You are fully entitled to you opinion, even when you err on most premises.

[ivocoins]

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

This means that the premined coins will generate 70% of the new coins, and everybody else 30%. I think this is the SCAM everybody is talking about

You seem to be mistaken. Please read the interview. The large majority of the premine is not longer owned by the party that premined the LEOcoins, but by members of the LEO community (and of course the LEOcoin Foundation). These members are just as much "everybody else" as those who are not a member of the LEO community.

Or in other words you split it between multiple addresses. And now you claim it's different people holding it.
And also you claim that LEO foundation is a different entity, yet even the website uses the same template.

You have promised to emit 1 billion coins, now you change your plan or what? 5% premine turns into 70% premine? or what exactly are you saying?

Even if we did believe you, the fact remains, if you switch to POS only right now, it will be a 70% premine coin. I believe that's called a SCAMCOIN

You are fully entitled to you opinion, even when you err on most premises.

I am indeed entitled to my opinon.
However if you switch to POS only right now, it is a FACT that this turns into a 70% premine, not merely an opinion.

[LEOcoin Foundation]

I am indeed entitled to my opinon.
However if you switch to POS only right now, it is a FACT that this turns into a 70% premine, not merely an opinion.

First, it is not me that changes to a POS only system, but LEOcoin developers are changing LEOcoin's algo.

Second, the premine is spread between a large number of persons, third parties and very many individuals who are not the ones that did the pre-mine. When you would say that there is a large group of LEOcoin owners who is also a part of the LEO community, you are right. But imo, you err in your assertion that it is a fact that LEOcoin would turn into a 70% premine. The fact is that Dan Andersson stated in this thread that the 50m. premine is distributed mostly amongst members of the LEO community. 10m. have been donated to the LEOcoin Foundation, so yes, we will have a decent stake interest.

[ivocoins]

I am indeed entitled to my opinon.
However if you switch to POS only right now, it is a FACT that this turns into a 70% premine, not merely an opinion.

First, it is not me that changes to a POS only system, but LEOcoin developers are changing LEOcoin's algo.

Second, the premine is spread between a large number of persons, third parties and very many individuals who are not the ones that did the pre-mine. When you would say that there is a large group of LEOcoin owners who is also a part of the LEO community, you are right. But imo, you err in your assertion that it is a fact that LEOcoin would turn into a 70% premine. The fact is that Dan Andersson stated in this thread that the 50m. premine is distributed mostly amongst members of the LEO community. 10m. have been donated to the LEOcoin Foundation, so yes, we will have a decent stake interest.

Of course, you can keep pretending you don't understand the concept.

50 million premine, is still 50 million premine, no matter between how many addresses you split it, or even - for the sake of argument - independent entities.

50 million premined out of 70 million total coins means 71.42% premine. This is no opinion, just simple arithmetic.

[LEOcoin Foundation]

I am indeed entitled to my opinon.
However if you switch to POS only right now, it is a FACT that this turns into a 70% premine, not merely an opinion.

First, it is not me that changes to a POS only system, but LEOcoin developers are changing LEOcoin's algo.

Second, the premine is spread between a large number of persons, third parties and very many individuals who are not the ones that did the pre-mine. When you would say that there is a large group of LEOcoin owners who is also a part of the LEO community, you are right. But imo, you err in your assertion that it is a fact that LEOcoin would turn into a 70% premine. The fact is that Dan Andersson stated in this thread that the 50m. premine is distributed mostly amongst members of the LEO community. 10m. have been donated to the LEOcoin Foundation, so yes, we will have a decent stake interest.

Of course, you can keep pretending you don't understand the concept.

50 million premine, is still 50 million premine, no matter between how many addresses you split it, or even - for the sake of argument - independent entities.

50 million premined out of 70 million total coins means 71.42% premine. This is no opinion, just simple arithmetic.

Yes, the 50 million premine has been know fact from the start. And the current percentage will indeed go down with every new generated block of LEOcoins. What matters to me is not the amount of premine a such, but how it is distributed amongst the owners of LEOcoin. There are also miners with large volumes in their wallets and probably many with a few.

[ivocoins]

I am indeed entitled to my opinon.
However if you switch to POS only right now, it is a FACT that this turns into a 70% premine, not merely an opinion.

First, it is not me that changes to a POS only system, but LEOcoin developers are changing LEOcoin's algo.

Second, the premine is spread between a large number of persons, third parties and very many individuals who are not the ones that did the pre-mine. When you would say that there is a large group of LEOcoin owners who is also a part of the LEO community, you are right. But imo, you err in your assertion that it is a fact that LEOcoin would turn into a 70% premine. The fact is that Dan Andersson stated in this thread that the 50m. premine is distributed mostly amongst members of the LEO community. 10m. have been donated to the LEOcoin Foundation, so yes, we will have a decent stake interest.

Of course, you can keep pretending you don't understand the concept.

50 million premine, is still 50 million premine, no matter between how many addresses you split it, or even - for the sake of argument - independent entities.

50 million premined out of 70 million total coins means 71.42% premine. This is no opinion, just simple arithmetic.

Yes, the 50 million premine has been know fact from the start. And the current percentage will indeed go down with every new generated block of LEOcoins. What matters to me is not the amount of premine a such, but how it is distributed amongst the owners of LEOcoin. There are also miners with large volumes in their wallets and probably many with a few.

There are only 20m mined coins, no matter who owns them. And 50m is premine. Now if you discontinue mining, 71% will be premine, instead of the promised figure of 5%. Thats 14x more premine than you originally claimed.

Yes, more coins will be generated through POS, but this is proportional to the coins held, hence, if mining is discontinued the 71% premine will be unchangeable. It will never be 5% premine as you initially claimed.

You own the exchanges, 71% of the coins. And you figured you want to freeze it here.
If leocoin is as transparent as you claim, please allow it to be traded on the major independent exchanges.

[LEOcoin Foundation]

There are only 20m mined coins, no matter who owns them. And 50m is premine. Now if you discontinue mining, 71% will be premine, instead of the promised figure of 5%. Thats 14x more premine than you originally claimed.

Yes, more coins will be generated through POS, but this is proportional to the coins held, hence, if mining is discontinued the 71% premine will be unchangeable. It will never be 5% premine as you initially claimed.

You own the exchanges, 71% of the coins. And you figured you want to freeze it here.
If leocoin is as transparent as you claim, please allow it to be traded on the major independent exchanges.

I see no reason why other exchanges could not trade or start trading LEOcoin. The LEOxChange was started to create liquidity so that owners of LEOcoin could buy and sell if they wanted to.

[Cryptotraider16]

Yeah leocoin need huge exchanges but right now dimon isnot goid! Hope it team now will make electrum wallet znd spi,etc like all legit coins!
Today leocoin rise for 39%! 👍🏼
Lets go leocoin! Make game changer

[Cryptotraider16]

There are only 20m mined coins, no matter who owns them. And 50m is premine. Now if you discontinue mining, 71% will be premine, instead of the promised figure of 5%. Thats 14x more premine than you originally claimed.

Yes, more coins will be generated through POS, but this is proportional to the coins held, hence, if mining is discontinued the 71% premine will be unchangeable. It will never be 5% premine as you initially claimed.

You own the exchanges, 71% of the coins. And you figured you want to freeze it here.
If leocoin is as transparent as you claim, please allow it to be traded on the major independent exchanges.

I see no reason why other exchanges could not trade or start trading LEOcoin. The LEOxChange was started to create liquidity so that owners of LEOcoin could buy and sell if they wanted to.

Leocoin need electrum wallet,dimon so exchanges will add ! Www.bloombit.net will add fight after dimon is done

[ivocoins]

There are only 20m mined coins, no matter who owns them. And 50m is premine. Now if you discontinue mining, 71% will be premine, instead of the promised figure of 5%. Thats 14x more premine than you originally claimed.

Yes, more coins will be generated through POS, but this is proportional to the coins held, hence, if mining is discontinued the 71% premine will be unchangeable. It will never be 5% premine as you initially claimed.

You own the exchanges, 71% of the coins. And you figured you want to freeze it here.
If leocoin is as transparent as you claim, please allow it to be traded on the major independent exchanges.

I see no reason why other exchanges could not trade or start trading LEOcoin. The LEOxChange was started to create liquidity so that owners of LEOcoin could buy and sell if they wanted to.

Wrong again! There's a very good reason. It is their policy to have the developer's support before listing it on their site.
Of course the elusive development team, that will not bother to speak here directly, and with whom only you are supposedly in contact, will never cooperate with the exchanges. Given your alleged volume, I'm sure the exchanges would list you, if you requested it.

But let me break it to you. You made a big mistake by finally posting here (2 years after launch), now its public and OUT OF YOUR CONTROL. You DO NOT control bitcointalk. This is actually a legitimate forum.

Should you turn the coin into 71% premine, I think that's a good enough reason to get banned off this forum. And then good luck selling your 50m premine. It will be worth ZERO.

Oh, I'm sure you'll then go mad with posting on all your websites, making up some story as to why this happened, make 20 tweets a day and what not.

So, I'm done. You got about 6 more posts to make before you get on the next page, and hope nobody noticed our discussion.
Good luck!

[BarrioFInito]

WoW great post and points from @ivocoins but like said many times before @LeoCoinFundation does not use math, logic, plans, only words....No matter how you try, you will almost never get a straight answer from or any Leo "entity" and if by some weird chance they do answer, is full of bullshit stories. 

hey Leo, them questions from Izy still 2 hard ha? Wait wait, i know! no time to answer 10 simple questions....

Or is it; "I choose who to answer, how and when" story again?

But it dont matter, your bullshit castle is cracking hard and fast, lets see how you try an fix it

Now we gonna get some other LEO members up in here, just to ask some more questions, since LeoCoin is the bait for MLM LEO business...

"Lucy u got some explaining to do!" 

Oh and the development team, or IT team, or what ever you wanna call em, why aint they here? Or that "top 5 bitcoin" dev guy? where he at? Or whats his name? Dev team name? can you answer that?

Ok ok, SIMPLE QUESTION;
Who is dev team for Leo? in this moment?

Couse we all know who started it (not Dan), who it was passed on.....who is in a jail cell and so on...BUT...again...SIMPLE QUESTION;

Names of the dev team behind Leo?

[ivocoins]

re: Barrio.... Yes I obviously realize this LEOcoin foundation dude is a broken record. But I was just making my case.

Hypothesis (not fact):
What if Leo Team were in fact the ones with the botnet, which somehow went down. Notice the difficulty drop.
Now they don't have it anymore so they figured POS would be good for them in this case.

Now they yell BOTNET, and try to maneuver everyone into 71% premine POS.

I would advise not to go along with any changes they wish to make. Then they will have to pump it and soon enough it will be profitable to mine it again. They do seem to be pumping, so it's all good, problem solved.

While only a hypothesis, I think it sort of makes sense.

[BarrioFInito]

re: Barrio.... Yes I obviously realize this LEOcoin foundation dude is a broken record. But I was making my case.

Hypothesis (not fact):
What if Leo Team were in fact the ones with the botnet, which somehow went down. Notice the difficulty drop.
Now they don't have it anymore so they figured POS would be good for them in this case.

Now they yell BOTNET, and try to maneuver everyone into 71% premine POS.

I would advise not to go along with any changes they wish to make. Then they will have to pump it and soon enough it will be profitable to mine it again. They do seem to be pumping, so it's all good, problem solved.

While only a hypothesis, I think it sort of makes sense.

Very much so, sadly. You cant fight math and logic, well not unless you are LeoCoinFundation 

I just hate that scams like this one, scam / scheme, what ever you call it, is  giving the "coins" in general, a bad name....Couse there are good coins out there, but they will have trouble finding support, in a larger spectrum, due to some assholes giving cryptocurrency a bad name. Oh well, there will always be people trying to make easy money on people