[ANN] Terracoin (TRC) - Est 2012

[elelegzet]

2 million in TRC which appeared 21 days ago (right after the first update that I did).  It looks like someone consolidating their addresses into one lump.  There is no way that they bought that recently because there has only been like 500,000 for sale in a long time.  (There is only 300,000 TRC available right now)

 Isn't it Cryptopia's cold storage? This exchange have to have at least 2,5M+ stored somewhere.

I don't know.  There is only 200,000 for sale.

 Check the distrib. tab. You can find a few bagholders there).

[1715036200]

1715036200

[Coin_trader]

a crypto coin that once abandoned by the original developer but keep itself alive by the new dev and the team voluntarily formed to keep the coin on track and strengthen it's marketing, endured the pressure and still gaining in it's spot at the cryptoworld.

[clockuniverse]

2 million in TRC which appeared 21 days ago (right after the first update that I did).  It looks like someone consolidating their addresses into one lump.  There is no way that they bought that recently because there has only been like 500,000 for sale in a long time.  (There is only 300,000 TRC available right now)

 Isn't it Cryptopia's cold storage? This exchange have to have at least 2,5M+ stored somewhere.

I don't know.  There is only 200,000 for sale.

 Check the distrib. tab. You can find a few bagholders there).

Whoah.  I didn't know that reported balances of people on there.  That is some good info.  I wish I could export that data to an excel file.

[clockuniverse]

Update on my first proposal when we get decentralized governance implemented for Terracoin.

** This does not take into account the reward halving that happens in about 3 months.

I think we should take 50% of the budgeted funds for the first 6 months.  After 5 months I will submit a new proposal (we will have a month of voting on the proposal) adjusted by the data that we now have in regards to price of TRC/pay for the core team. 

We want to get close to market price for each core team member.  We won’t go above 50% of budgeting funds ever.

45% miners, 45% masternodes, 10% budgeting 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% of total budgeting)

Payment slots will be 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: 1 - very part time, 2 - part time, 3 - almost full time, 4 - 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

Let’s say we have 3 very part time, 1 part time, and 1 full time core members, we 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, volunteer of the month, extra people during some months, etc.

This is an update to the previous proposal idea I had.

All payments will be posted not only to the blockchain (obviously), but also to a public ledger showing who is payed what.

[crackfoo]

When are you thinking the fork will happen to have masternodes?

[clockuniverse]

When are you thinking the fork will happen to have masternodes?

I am not sure.  I know that I want to run the testnet for a long while before we set the hard fork date.  I didn't test the code last time and it turned into a major issue.  I also am still pushing for Segwit implementation, though everyone else says it is too much work for right now.

I have a list of everyone to email and warn before it happens, so don't worry about a sudden hard fork.

We have no plan of changing merge mining, DGW, or SHA256, or any of the other Terracoin specs for that matter.  We are just adding to Terracoin.

You should PM me and join the team.  We could always use someone with your expertise.

[johnwhitestar]

I began this thread here: https://bitcointalk.org/index.php?topic=1893009 and I'd like to see TRC in the list, would please someone contribute?

[clockuniverse]

I began this thread here: https://bitcointalk.org/index.php?topic=1893009 and I'd like to see TRC in the list, would please someone contribute?

I posted on there. If other people believe that TRC is undervalued they should probably post on there too.

[crackfoo]

When are you thinking the fork will happen to have masternodes?

I am not sure.  I know that I want to run the testnet for a long while before we set the hard fork date.  I didn't test the code last time and it turned into a major issue.  I also am still pushing for Segwit implementation, though everyone else says it is too much work for right now.

I have a list of everyone to email and warn before it happens, so don't worry about a sudden hard fork.

We have no plan of changing merge mining, DGW, or SHA256, or any of the other Terracoin specs for that matter.  We are just adding to Terracoin.

You should PM me and join the team.  We could always use someone with your expertise.

is there a slack or anything?

[clockuniverse]

When are you thinking the fork will happen to have masternodes?

I am not sure.  I know that I want to run the testnet for a long while before we set the hard fork date.  I didn't test the code last time and it turned into a major issue.  I also am still pushing for Segwit implementation, though everyone else says it is too much work for right now.

I have a list of everyone to email and warn before it happens, so don't worry about a sudden hard fork.

We have no plan of changing merge mining, DGW, or SHA256, or any of the other Terracoin specs for that matter.  We are just adding to Terracoin.

You should PM me and join the team.  We could always use someone with your expertise.

is there a slack or anything?

We have a slack for team members.

[skytaper]

We have a slack for team members.

 Should you really lock it? Make it more public. I don't think more people may harm it 

[clockuniverse]

We have a slack for team members.

 Should you really lock it? Make it more public. I don't think more people may harm it 

I like having the real conversations here in the public so everyone can see it and join in.

[clockuniverse]

5.4.17 Update – Vision

We are still hard at work on the code, and everything else.

One of the team asked me to write the vision for Terracoin so that we are all on the same page.

Vision Statement

The Terracoin Foundation is dedicated to improving Terracoin by making it a secure, innovative, fast, decentralized alternative to fiat currencies.  We will do this by implementing cutting edge technology developed by our own team and developed by others.

We want Terracoin to be a cryptocoin that is easily accessible and accountable to everyone on the planet regardless of their income or computing power.  We also want to use Terracoin to help improve the planet.

To start this will include having a scaled masternode collateral model, decentralized governance, easy to use guides, instant transactions, robust support, and donations to not for profit organizations.

In the future there will be many changes to Terracoin because as the world and currencies change, Terracoin will change with it.

Always innovating. 

Always improving.

Terracoin.

The World.

Numbers!

Let’s look at our current donations.  These donations are for attracting developers to join the team.  SixofFive is working hard on the code, but the more people who work on the code the better.  The donations will be split between all of the developers depending on the work they put in.  Once decentralize governance is approved everyone will be paid by the time they put in, which is reflected by the first proposal I will submit. (https://bitcointalk.org/index.php?topic=1364146.msg18845810#msg18845810)

Terracoin Donations

32,258.09725820 TRC

Bitcoin Donations

.17194391 BTC

Thank you everyone for the donations and please donate to help get decentralized governance implemented.

And now for the fun numbers.

30 days ago we were at 0.00000789 BTC (.0089 USD) and today we are at 0.00001269 BTC (.0182 USD.) In the past 7 days we have gone over the 2 cent price many times.
We are ranked 245 on coinmarketcap with a market cap of $368,098 USD.  Last week our market cap was $342,366 USD.

Source: http://coinmarketcap.com/currencies/terracoin/

[jchi18]

I downloaded the wallet and it says that no block source is available.  Can someone help?  Do I need to create a conf file?

[clockuniverse]

I downloaded the wallet and it says that no block source is available.  Can someone help?  Do I need to create a conf file?

We are having an issue with the seed nodes.  This will be fixed with the next release of the TRC wallet.

In the meantime you can manually add these nodes which cynixali provided.

Some current nodes if you are having trouble connecting:
addnode 62.138.3.214:13333 add
addnode 23.152.0.149:13333 add
addnode 108.61.10.90:13333 add
addnode 82.200.205.30:13333 add
addnode 93.113.101.229:13333 add

Just copy and paste each of those into the debug console and it should find peers pretty quick.

Tell me if you have any troubles after that.  Thanks!

[moki2]

I downloaded the wallet and it says that no block source is available.  Can someone help?  Do I need to create a conf file?

We are having an issue with the seed nodes.  This will be fixed with the next release of the TRC wallet.

In the meantime you can manually add these nodes which cynixali provided.

Some current nodes if you are having trouble connecting:
addnode 62.138.3.214:13333 add
addnode 23.152.0.149:13333 add
addnode 108.61.10.90:13333 add
addnode 82.200.205.30:13333 add
addnode 93.113.101.229:13333 add

Just copy and paste each of those into the debug console and it should find peers pretty quick.

Tell me if you have any troubles after that.  Thanks!

thank you ,I create the conf file,and work well now.

[jchi18]

I downloaded the wallet and it says that no block source is available.  Can someone help?  Do I need to create a conf file?

We are having an issue with the seed nodes.  This will be fixed with the next release of the TRC wallet.

In the meantime you can manually add these nodes which cynixali provided.

Some current nodes if you are having trouble connecting:
addnode 62.138.3.214:13333 add
addnode 23.152.0.149:13333 add
addnode 108.61.10.90:13333 add
addnode 82.200.205.30:13333 add
addnode 93.113.101.229:13333 add

Just copy and paste each of those into the debug console and it should find peers pretty quick.

Tell me if you have any troubles after that.  Thanks!

That worked, thanks!

[clockuniverse]

Since C-Cex's API has been regularly failing for long periods of time I have decided to start submitting Terracoin to other exchanges before the planned hard fork.

We are only listed on 4 exchanges, and if one goes down it hurts Terracoin in the long run.

We need sturdy exchanges that can handle the up coming changes.  The fork that we plan should be easily implemented.

I just submitted Terracoin to Livecoin, and I will submit Terracoin to any other exchanges you guys recommends.  I will also email Poloniex, Bittrex, and Bter to see if they are willing to reconsider adding TRC.

If you have any ideas for exchanges that you would like Terracoin added to, then feel free to post on here.

Thanks!

[Bee Cho Chen]

Since C-Cex's API has been regularly failing for long periods of time I have decided to start submitting Terracoin to other exchanges before the planned hard fork.

We are only listed on 4 exchanges, and if one goes down it hurts Terracoin in the long run.

We need sturdy exchanges that can handle the up coming changes.  The fork that we plan should be easily implemented.

I just submitted Terracoin to Livecoin, and I will submit Terracoin to any other exchanges you guys recommends.  I will also email Poloniex, Bittrex, and Bter to see if they are willing to reconsider adding TRC.

If you have any ideas for exchanges that you would like Terracoin added to, then feel free to post on here.

Thanks!

I think Bittrex makes the most sense right now. Thanks for playing a big part of this great community

[clockuniverse]

Since C-Cex's API has been regularly failing for long periods of time I have decided to start submitting Terracoin to other exchanges before the planned hard fork.

We are only listed on 4 exchanges, and if one goes down it hurts Terracoin in the long run.

We need sturdy exchanges that can handle the up coming changes.  The fork that we plan should be easily implemented.

I just submitted Terracoin to Livecoin, and I will submit Terracoin to any other exchanges you guys recommends.  I will also email Poloniex, Bittrex, and Bter to see if they are willing to reconsider adding TRC.

If you have any ideas for exchanges that you would like Terracoin added to, then feel free to post on here.

Thanks!

I think Bittrex makes the most sense right now. Thanks for playing a big part of this great community

No problem! That is what I am here for, and with this community it is easy!

Remember we are always looking for more members of the team to work on a variety of things.  Mostly right now we need more developers, and marketing people.

I will definitely email Bittrex and see how they feel about it.  I decided last night that we are going to throw up a couple of seed nodes and fix the seed node code first.  I don't want the exchanges to have any problems setting up the wallet.  Besides the code change won't effect anyone who already has an active wallet and it will make it easier for new people to join.