[ANN] Terracoin (TRC) - Est 2012

[johnwhitestar]

I really think we should establish the development fund and promise that bounty for upcoming skilled developers (not just a modest donation jar). I'm dev myself (but I have incompatible programming language preferences (java-scala)) and I can tell you that I will never really care about any crypto if I haven't my share in it. It's easier to code from scratch rather than revive the dead. If we are able to collect significant part of TRC to the development fund we might find someone interested.
 And I guess its time to set up slack.

I think that not only we have to pay well our developers but we have to overpay them.
The strategy might be those of Telegram service.
They offers prizes for the best chunk of the program each time and dozens of programmers try to create most elegant, light, sure and basically the best code for them.
The prize is much more than the money the developer can get for the same work usually, but the code the Telegram owners receive is the best one each time.

[IconFirm]

3. make it a simple and clear design, current one is really complicated and people don't know what is it......keep it in mind, the simplest , the best, this is apple's experiences

I agree that TRC logo design should be changed as soon as possible.

I don't - it was only recently done & looks great. Leave it alone.

What's with the sudden influx of people who want to change everything for no reason? If it ain't broke......

[myhoho]

I think that not only we have to pay well our developers but we have to overpay them.
The strategy might be those of Telegram service.

 exactly, we just shouldn't wait and hope that a Satoshi himself will fall from the SHA-256 coded sky and fix the Terracoin code for good.

[clockuniverse]

I think that not only we have to pay well our developers but we have to overpay them.
The strategy might be those of Telegram service.

 exactly, we just shouldn't wait and hope that a Satoshi himself will fall from the SHA-256 coded sky and fix the Terracoin code for good.

I am glad you guys are on board!!

Here are the addresses to send your donations for the developers.

¤ Terracoin General Donation Address ¤

12bTKJL3UiypnVQMyFXg7eCJudAyAtgh6p

¤ Bitcoin General Donation Address ¤

14LW52k8vhHvHaGfmgx48d3su4RcKPyKcc

The BTC donations are at .02060000 BTC!  Which is awesome since we rarely get BTC donations.

The TRC donations are at 34,042 TRC.

Thanks for everyone who has donated so far!

[clockuniverse]

My first proposal when we get decentralized governance implemented for Terracoin

** This does not take into account the reward halving that happens in about 4 months.

I think we should take 50% of the budgeted funds for the first 6 months

45% miners, 45% masternodes, 10% budgeted funds

432,000 TRC a month generated by masternodes and mining.
43,200 a month goes to budgeting. (10%)
21,600   a month to core team for 6 months. (50%)

4 different levels of pay: 1 - very part time, 2 - part time, 3 - almost full time, 4 - full time.

I haven’t decided on if this will be a set amount each month or a total split between everyone who is working on it.

An example of each idea.

Example 1 – All paid out.

We have 3 very part time, 1 part time, and 1 full time core members.
3x1+1x2+1x4=9 total payment slots

21,600 TRC/9=2400 per payment slot
A very part time core member gets 2400 TRC
A part time core member gets 4800 TRC
While the full time member gets 9600 TRC

Example 2 – Payment slots are predetermined

We want 5 people who are full time and each full time person gets 4 slots of the pay. This means there are 20 total slots. Since most people can’t work full time we break them down into the four different pay ranks (same as above - very part time, part time, almost full time, full time)  This will allow us to hire more people to cover the different types and amounts of work.

21,600/20 = 1080 TRC per pay slot
Using the same number of core members as above, 3 very part time, 1 part time, and 1 full time core members, we still have 9 total payment slots.
3x1+1x2+1x4=9 total payments

A very part time core member gets 1080 TRC
A part time core member gets 2160 TRC
The full time member gets 4320 TRC

Left overs are held for special bonuses, extra people during some months, etc.

Tell me what you think!

[IconFirm]

As a miner, I am completely against having my mining reward reduced by 65%.

[SixOfFive]

As a miner, I am completely against having my mining reward reduced by 65%.

As a miner I am completely FOR having a reduction of 55% (its not 65% unless my caffiene infused math is incorrect) with the implementation of masternodes (as I will also be running masternodes) ... I can see this could become an awesome debate

[IconFirm]

As a miner, I am completely against having my mining reward reduced by 65%.

As a miner I am completely FOR having a reduction of 55% (its not 65% unless my caffiene infused math is incorrect) with the implementation of masternodes (as I will also be running masternodes) ... I can see this could become an awesome debate

oops. typo......

[SixOfFive]

oops. typo......

For all I know you could have included the reward halving in 4 months and I didn't include that math.

My basis for being for the reduction is because masternode profits have to come from somewhere. I also believe that implementing masternodes would potentially increase the value of TRC significantly, thus, profits from mining would also potentially increase.

[clockuniverse]

oops. typo......

For all I know you could have included the reward halving in 4 months and I didn't include that math.

My basis for being for the reduction is because masternode profits have to come from somewhere. I also believe that implementing masternodes would potentially increase the value of TRC significantly, thus, profits from mining would also potentially increase.

It isn't a potential.  Since we have started talking about implementing DASH's decentralized governance the price of TRC has almost doubled, so that should cover your worries IconFirm.

[cynixali]

Is there a working testnet for this coin?

[clockuniverse]

Is there a working testnet for this coin?

There isn't.  We plan to set one up when we test out the new features.  That is a little ways off though.

[clockuniverse]

We got a bunch more donations in the past couple of days!  Thanks everyone!

These donations will go to implementing DASH's decentralized governance and instant send.  I also updated the OP to show how much we have so far.

Please donate to the addresses below so that we can get this show on the road!

¤ Terracoin General Donation Address ¤


⇗  12bTKJL3UiypnVQMyFXg7eCJudAyAtgh6p


¤ Bitcoin General Donation Address ¤


⇗  14LW52k8vhHvHaGfmgx48d3su4RcKPyKcc

¤ DASH Decentralized Management Donation Totals ¤


⇗  39042.20799540 Terracoin (TRC)
⇗  .16494391 Bitcoin (BTC)

[snowyNNN]

I like the masternode idea for this coin. I might join if it happens.

[clockuniverse]

I like the masternode idea for this coin. I might join if it happens.

It is going to happen.

[elelegzet]

 Russian translation: https://bitcointalk.org/index.php?topic=1856691.0
 I put extended comment covering my own experience with TRC.
 Russian crypto-community even used to have a nickname for Terracoin back in 2013   ('TaRaCan' - cockroach)

[clockuniverse]

Russian translation: https://bitcointalk.org/index.php?topic=1856691.0
 I put extended comment covering my own experience with TRC.
 Russian crypto-community even used to have a nickname for Terracoin back in 2013   ('TaRaCan' - cockroach)

I'll update the OP & website when I have time!  Thanks!

[cynixali]

Russian translation: https://bitcointalk.org/index.php?topic=1856691.0
 I put extended comment covering my own experience with TRC.
 Russian crypto-community even used to have a nickname for Terracoin back in 2013   ('TaRaCan' - cockroach)

I'll update the OP & website when I have time!  Thanks!

website says "Office Terracoin Foundation Mining Pool" and "Office Terracoin Foundation Block Explorer". Should these say Official?

[clockuniverse]

Russian translation: https://bitcointalk.org/index.php?topic=1856691.0
 I put extended comment covering my own experience with TRC.
 Russian crypto-community even used to have a nickname for Terracoin back in 2013   ('TaRaCan' - cockroach)

I'll update the OP & website when I have time!  Thanks!

website says "Office Terracoin Foundation Mining Pool" and "Office Terracoin Foundation Block Explorer". Should these say Official?

Fixed!  Sorry.  I guess this is an example of not typing while exhausted.

[clockuniverse]

I also missed a post from a few weeks ago announcing a new mining pool.

I have added it the the OP, Reddit and the website.

https://www.Mining-Dutch.nl

Please post all mining pools and block chain explorers on here so that I can add them to everything.

Thanks!