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Author Topic: ANN - LEOcoin - Official LEOcoin thread (moderated by LEOcoin Foundation)  (Read 51126 times)
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May 17, 2017, 02:08:38 PM
 #641

Where to download a new wallet
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May 17, 2017, 03:24:17 PM
 #642

What is the reason for ? on coinmarketcap? Will it remain forever?

I certainly hope not, but that is mostly up to CMC. As far as I understand, it has to do with our explanation of the premine and network distribution. As has been explained in 2015 and 2016, and as can be read on the LEOcoin official website this has in fact been distributed among the LEOcoin Foundation, crypto-miners, coin-traders and other LEOcoin owners, most of whom belong to the LEO organisation. These LEOcoin owners probably represent the major chunk of LEOcoin supporters. Many LEO members engage in trading and/or let their wallets stake for them (see: http://www.leocoin.org/LEODistribution.aspx.

Over the last 3 years, LEOcoin has been accused of whatever, but we simply have been a rather normal digital currency, with a Foundation, a blockchain, block-explorers, wallets for most common OS and smartphones, we are listed on at least 6-8 different exchanges and our market cap can be seen on WorldCoinIndex. Soon we will have a huge update, with improved and faster technology which we hope will add more benefits to our project.

This said, I hope and trust that the day will come, that LEOcoin Market Cap is listed on CMC, but it is not my call to make.

But there is a lot of coins with a huge premined. What is a main reasons?

Back in 2014, pre-mine was common. The founders of LEOcoin thought 5% of total supply not to be that much. Moreover, already 10m from the 50m were donated to the LEOcoin Foundation. In case you have not read all contributions on this and the former unmoderated thread, I will repeat the relevant part of the interview that the LEOcoin Foundation had with Dan Andersson in 2016 prior to moving to a sole PoS mechanism:

Quote
LF: LEOcoin has a premine of 50 million LEOcoins. Many people, like cryptominers, journalists and investors fear that LEO will dump all of them once the price goes up. Is this worry justified?

DA: No, not at all. Actually, a 5% premine is not that much and we had several good reasons for it.
Firstly, from the start we have been keen on establishing a foundation to support LEOcoin and we wanted to reserve a considerable amount for that. This summer we have donated 10 million LEOcoins to the LEOcoin Foundation. As a social enterprise, registered as a Community Interest Company, the LEOcoin Foundation is not allowed to make a profit and must invest its resources in pursuing its objectives. It is barred from activities that would undermine those objectives to support and expand understanding and interest in digital currencies.
Secondly, we, in this case LEO Ltd., used most of the remaining LEOcoins to promote the LEOcoin and let our members benefit from future developments; both for use as a payment mechanism and for capital building. The overwhelming majority of LEOcoin are in member wallets and with the mining community, not with LEO Ltd. or LEO employees.
The amount of LEOcoins still owned by LEO Ltd only forms a very small part of the total supply. We will of course always support LEOcoin. We will never ‘dump’ any LEOcoins or disturb the price – which is set by the market supply and demand mechanism. I should mention, here, that the UK direct selling regulations that we subscribe to prohibit us from participating in professional currency trading activities. The core business of LEO is education and skills development. We want to unleash human potential through delivering knowledge and give everyone who wants it, the means to become an entrepreneur. LEOcoin perfectly fits in this mission.


LF: Some miners complain that so many LEOcoins were allegedly sold to members and that the mining world was not informed from the start and thus missed the good mining opportunities that arise at the start of a new coin.

DA: Let me first make clear that LEO Ltd. has not sold any LEOcoins for cash to anyone. We did however use LEOcoin as an extra reward for our members and enabled our members to trade LEOcoin amongst themselves. This is part of introducing new audiences to digital currency.
Also quite a few miners got involved from the early stages, but greed and financial gain overrides sharing news with your potential competitors, so yes, it took a couple of weeks before the first mining pools did arise and even longer before it was generally known in the mining community.
Aside from that, we took great care that LEOcoin could be publically mined from the start, just like many other digital currencies. We never made any restrictions or demands in this regard, as we do understand that in order for LEOcoin to be accepted by the crypto world and beyond, you cannot work with a closed system. And up to today, we encourage people to keep on mining and staking.

Roel N. de Leeuw B.ec
LEOcoin Foundation Community Manager
Account for donations in LEOcoin: LWddTAj1UkJxZPyobBrmuQZFCQN9VS8jq7
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May 17, 2017, 03:26:57 PM
 #643

Where to download a new wallet

You find all available end-user wallets on the LEOcoin website: http://www.leocoin.org/. Exchanges can compile a version from GitHub.

Roel N. de Leeuw B.ec
LEOcoin Foundation Community Manager
Account for donations in LEOcoin: LWddTAj1UkJxZPyobBrmuQZFCQN9VS8jq7
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May 17, 2017, 03:53:46 PM
 #644

What is the reason for ? on coinmarketcap? Will it remain forever?

I certainly hope not, but that is mostly up to CMC. As far as I understand, it has to do with our explanation of the premine and network distribution. As has been explained in 2015 and 2016, and as can be read on the LEOcoin official website this has in fact been distributed among the LEOcoin Foundation, crypto-miners, coin-traders and other LEOcoin owners, most of whom belong to the LEO organisation. These LEOcoin owners probably represent the major chunk of LEOcoin supporters. Many LEO members engage in trading and/or let their wallets stake for them (see: http://www.leocoin.org/LEODistribution.aspx.

Over the last 3 years, LEOcoin has been accused of whatever, but we simply have been a rather normal digital currency, with a Foundation, a blockchain, block-explorers, wallets for most common OS and smartphones, we are listed on at least 6-8 different exchanges and our market cap can be seen on WorldCoinIndex. Soon we will have a huge update, with improved and faster technology which we hope will add more benefits to our project.

This said, I hope and trust that the day will come, that LEOcoin Market Cap is listed on CMC, but it is not my call to make.

But there is a lot of coins with a huge premined. What is a main reasons?

Back in 2014, pre-mine was common. The founders of LEOcoin thought 5% of total supply not to be that much. Moreover, already 10m from the 50m were donated to the LEOcoin Foundation. In case you have not read all contributions on this and the former unmoderated thread, I will repeat the relevant part of the interview that the LEOcoin Foundation had with Dan Andersson in 2016 prior to moving to a sole PoS mechanism:

Quote
LF: LEOcoin has a premine of 50 million LEOcoins. Many people, like cryptominers, journalists and investors fear that LEO will dump all of them once the price goes up. Is this worry justified?

DA: No, not at all. Actually, a 5% premine is not that much and we had several good reasons for it.
Firstly, from the start we have been keen on establishing a foundation to support LEOcoin and we wanted to reserve a considerable amount for that. This summer we have donated 10 million LEOcoins to the LEOcoin Foundation. As a social enterprise, registered as a Community Interest Company, the LEOcoin Foundation is not allowed to make a profit and must invest its resources in pursuing its objectives. It is barred from activities that would undermine those objectives to support and expand understanding and interest in digital currencies.
Secondly, we, in this case LEO Ltd., used most of the remaining LEOcoins to promote the LEOcoin and let our members benefit from future developments; both for use as a payment mechanism and for capital building. The overwhelming majority of LEOcoin are in member wallets and with the mining community, not with LEO Ltd. or LEO employees.
The amount of LEOcoins still owned by LEO Ltd only forms a very small part of the total supply. We will of course always support LEOcoin. We will never ‘dump’ any LEOcoins or disturb the price – which is set by the market supply and demand mechanism. I should mention, here, that the UK direct selling regulations that we subscribe to prohibit us from participating in professional currency trading activities. The core business of LEO is education and skills development. We want to unleash human potential through delivering knowledge and give everyone who wants it, the means to become an entrepreneur. LEOcoin perfectly fits in this mission.


LF: Some miners complain that so many LEOcoins were allegedly sold to members and that the mining world was not informed from the start and thus missed the good mining opportunities that arise at the start of a new coin.

DA: Let me first make clear that LEO Ltd. has not sold any LEOcoins for cash to anyone. We did however use LEOcoin as an extra reward for our members and enabled our members to trade LEOcoin amongst themselves. This is part of introducing new audiences to digital currency.
Also quite a few miners got involved from the early stages, but greed and financial gain overrides sharing news with your potential competitors, so yes, it took a couple of weeks before the first mining pools did arise and even longer before it was generally known in the mining community.
Aside from that, we took great care that LEOcoin could be publically mined from the start, just like many other digital currencies. We never made any restrictions or demands in this regard, as we do understand that in order for LEOcoin to be accepted by the crypto world and beyond, you cannot work with a closed system. And up to today, we encourage people to keep on mining and staking.


Sorry for my bad question.. I thought that a lot of altcoins are premined and are on cmc with marketcap..
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May 17, 2017, 05:14:09 PM
 #645

Sorry for my bad question.. I thought that a lot of altcoins are premined and are on cmc with marketcap..

That is not a bad question, not at all.

Building a new currency, a user base and ecology is not easy and requires a good 'cash' position. LEOcoin has opted for pre-mine solution, today many new coins prefer ICO, but it is all about finding support and means to create something that will last and unleash the disruptive powers of digital currencies.

The Foundation e.g. uses from their funds to pay for the UPDATE development that will add exiting new technology to LEOcoin, like adding privacy to both transaction (ring signatures with non-interactive zero knowledge proofs) as to a chat module, which will be p2p encrypted. And many other new functions. Around the time that we implement the UPDATE an improved White Paper will explain in more detail, what is new and what will be added in 2017/2018. As LEOcoin is here to stay ...



Roel N. de Leeuw B.ec
LEOcoin Foundation Community Manager
Account for donations in LEOcoin: LWddTAj1UkJxZPyobBrmuQZFCQN9VS8jq7
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May 22, 2017, 07:24:27 AM
 #646

Recent interview with the chairman of the LEOcoin Foundation:

http://www.huffingtonpost.co.uk/dan-andersson-/digital-currency_b_16683394.html

Roel N. de Leeuw B.ec
LEOcoin Foundation Community Manager
Account for donations in LEOcoin: LWddTAj1UkJxZPyobBrmuQZFCQN9VS8jq7
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