[ANN] • [LC] • Lutetium Coin • POS/Premined share Pool • energy free cloudmining

[Lutetium]

This ANN is currently getting reformed. We will sort out unimportant/old stuff and add new informations.
For the original ANN please check: https://bitcointalk.org/index.php?topic=1414368.msg14928310#msg14928310




Lutetium Coin

link to the pool:Pool is still in development.
www.lutetium.pw/public/

FAQ:
Q.1: How do you get your free shares on the mining pool?
- 1. Please register on www.lutetium.pw/public
- 2. Send us a PM with your pool username and/or pool emailaddress
- 3. We will manually add your free shares
Free shares according to forum rank:

Brand New - 1 share
Newbie - 1 share
Jr. Member - 2 shares
Member - 3 shares
Full Member - 4 shares
Sr. Member - 5 shares
Hero Member - 6 shares
Legendary - 7 shares

Q.2: What is the x2 feature on the signature campaign?
On the pool launch we have had some problems with the payout runs. We had to delay the launch.
As a bonus for early participants we have enabled the free x2 feature on free mining shares based on forum rank. This feature is permanent.

Q.3: How much is the premined amound for dev team?
There is no real premined amount for the dev team. We have registered on the pool like every other community member and added free shares according to our forum rank. We didn't add any further shares to our accounts.
On the stake testing phase (for 48h) we will test if stakeing is working correctly. After the succesfull testing we will deactivate the premined wallets for stakeing.
The staked amount is the dev team premined amount.

Q.4: When is the wallet comeing?
After the old coindev disapeared, we have hired a new coindev. He has created the windows wallet and the source for it.
Currently (May 22, 2016, 12:07:00 PM) we have some problems with the nodes not connecting correctly. The coindev will have a look at this with us together.
After the wallet is working, we will test the payouts on the pool. The test wont last longer than 48h and will happen with stake testing of the wallet (See Q.3

Q.5: I want to mine LC, how is this possible?
Regular mining for LC isn't possible. The coin distribution will happen via our premined pool www.lutetium.pw/public and is running since 04/13/2016 for 365days.
During the cloud mining distribution and for ever, LC is a PoS coin.

Q.6: What are share packages and how to obtain them?
Share packages will be added to your account on the mining pool.
There are 4 different sizes of the packages:

Small: 10 shares - 0.03 BTC
Normal: 25 shares - 0.0725 BTC
Large:  50 shares - 0.145 BTC
Big: 80 shares - 0.225 BTC

Timeline/Roadmap

Timeline:
2016-03-27 Announcement
2016-04-13 Pool created
2016-04-13 Pool opened for registrations
2016-04-14 First payout run
2016-04-19 Log contest announcement - Reward: permanent shares on the mining pool
2016-05-14 Wallet bounty announcement - Reward: 15 permanent shares on the mining pool
2016-05-22 Reached 63 active users on the pool 3.55 LC per share - Total of 351 shares
2016-05-22 Redesign of the ANN
2016-05-23 Share Package price added

Future:
2016-05-XX Public realease of the wallet
2016-05-XX+7days Logo contest will be over, Winner will receive shares as announced
2016-05/06 Public release of the website
2016-06-XX Starting of hardware giveaways (if enough BTC from share packages)

General informations:
Lutetium is a new POS based scryptcoin X11 with a new innovative mining concept. Instead of wasting so much energy and producing CO2 we simply premined all the coins (PoS).
100% of the premined coins will get destributed in the first year to all the users who entered signature "quest" or bought cloudmining (centralized) shares. We think this is a nice new way of mining because you don't have to pay energy costs. Most of the premined coins (more than 99%) are stored on cold storage for anty theft protection and we will only transfer small amounts of LC to the mining pool for the payouts.
After the first year, the pool wont havy any more coins to payout and 100% of the premined coins have been distributed to the community.
With the BTC from the pool we will have some nice events for the community.
The Premined cold storage address will get revealed after launch.

Explanation pool shares:
1 share = x% of a Block, lets say there are 100 Shares and you own 10, you receive 10/100=10% of 1,250 LC = 125 LC

Original launch date:
Launch 2016/06/04 (EU: 06.04.2016)



Specifications:

Lutetium Coin

Ticker: LC
Algorithm: Scrypt X11
Supply: 657,000,000
Premine: 100%
POS Rate: 10% pa
Number Of Blocks for energy friendly mining: 525,600
Bounty per Block: 1,250
60 Seconds Per Block
10 Blocks to Confirm
Min. Staking Age: 1 hour


Coin concept
- New mining concept
- No burned energy for mining Lutetium
- "mining" possible in the first year for everyone, even without the need of buying shares
- No powerfull computer or ASICS needed, a computer with a running internet connection and Linux/Windows/Mac will be fine
- With earned BTC from shares from the pool we will have giveaways for everyone (in the beginning) registered on Bitcointalk and active on this thread. We are thinking about hardware for computers, like SSDs, HDDs, GPUs, ... and other nice stuff
- Connection to shops accepting cryptocurrencies so you can actually buy items on the internet with LC


Sharelist forum signature campaign:


***update April 08, 2016, 04:53:48 PM***
we decided to introduce a share system based on the forum rank.

Brand New - 1 share
Newbie - 1 share
Jr. Member - 2 shares
Member - 3 shares
Full Member - 4 shares
Sr. Member - 5 shares
Hero Member - 6 shares
Legendary - 7 shares

Signature musst be visible on the forum for 1 2 weeks after adding it.
Please get a signature like this:

[ANN] [LC] Lutetium - Get free mining pool shares

please remove the * and you have working signature
[url*=https://bitcointalk.org/index.php?topic=1414368.msg14331883#msg14331883][ANN] [LC] Lutetium - Get free mining pool shares[/url]

After adding this signature line please post here for getting your nickname on the list.

For being a part of the campaign you will receive shares according your bitcointalk forum rank.

New registrations/Newbies (we will try to check for multiple registrations) please use that signature:

[ANN][LC] Lutetium - Get free mining pool shares

Sharelist:

Updated:   March 30, 2016, 05:40:56 PM
vingaard Sr. Member https://bitcointalk.org/index.php?action=profile;u=129969
sxafir Member https://bitcointalk.org/index.php?action=profile;u=696416
loutchano Full Member https://bitcointalk.org/index.php?action=profile;u=125967

March 31, 2016, 09:26:40 PM
ydrogios Full Member https://bitcointalk.org/index.php?action=profile;u=245909
ioncanon Sr. Member https://bitcointalk.org/index.php?action=profile;u=374822
daveolake Sr. Member https://bitcointalk.org/index.php?action=profile;u=339890
wersd Member https://bitcointalk.org/index.php?action=profile;u=756487

April 03, 2016, 07:54:54 PM
mm2543363580 Member https://bitcointalk.org/index.php?action=profile;u=155420
KJMZNine Full Member https://bitcointalk.org/index.php?action=profile;u=650173
Bradfrogger2 Member https://bitcointalk.org/index.php?action=profile;u=496495

April 05, 2016, 05:13:30 PM
kiffner Full Member https://bitcointalk.org/index.php?action=profile;u=293321
mnamshares Newbie https://bitcointalk.org/index.php?action=profile;u=753063
Breadpudding Jr. Member https://bitcointalk.org/index.php?action=profile;u=322343

April 06, 2016, 01:16:47 AM
johnnysof Full Member https://bitcointalk.org/index.php?action=profile;u=380056
Inves Jr. Member https://bitcointalk.org/index.php?action=profile;u=635802

April 08, 2016, 04:35:51 PM
casper77 Sr. Member https://bitcointalk.org/index.php?action=profile;u=73499
steveds Hero Member https://bitcointalk.org/index.php?action=profile;u=116984
Isolani Newbie 159 https://bitcointalk.org/index.php?action=profile;u=745892
neonil Newbie https://bitcointalk.org/index.php?action=profile;u=817882
zugvogel21 Sr. Member https://bitcointalk.org/index.php?action=profile;u=224844

April 09, 2016, 10:09:46 AM
papasmurph Full Member https://bitcointalk.org/index.php?action=profile;u=147106

April 11, 2016, 12:45:47 AM
John0811 Full Member https://bitcointalk.org/index.php?action=profile;u=457118
Papajager Jr. Member https://bitcointalk.org/index.php?action=profile;u=764413
eabz Newbie https://bitcointalk.org/index.php?action=profile;u=811264
angelus68 Newbie https://bitcointalk.org/index.php?action=profile;u=822029
sunce33 Newbie https://bitcointalk.org/index.php?action=profile;u=245285
lucky80 Newbie https://bitcointalk.org/index.php?action=profile;u=816417

April 12, 2016, 05:40:34 AM
adamgud Newbie https://bitcointalk.org/index.php?action=profile;u=387213
lind82 Full Member https://bitcointalk.org/index.php?action=profile;u=552363
wantwin Jr. Member https://bitcointalk.org/index.php?action=profile;u=559655
my luck Full Member https://bitcointalk.org/index.php?action=profile;u=567446
Vitamin_52 Newbie https://bitcointalk.org/index.php?action=profile;u=817365

April 12, 2016, 04:19:25 PM
sandan2002 Newbie https://bitcointalk.org/index.php?action=profile;u=434933
cassavachips Jr. Member https://bitcointalk.org/index.php?action=profile;u=636114
davide72 Full Member https://bitcointalk.org/index.php?action=profile;u=539767
wahyu5 Jr. Member https://bitcointalk.org/index.php?action=profile;u=801970
James_H  Jr. Member https://bitcointalk.org/index.php?action=profile;u=805676
poelling92 Hero Member https://bitcointalk.org/index.php?action=profile;u=87216
_Lucky_  Newbie https://bitcointalk.org/index.php?action=profile;u=821756
coinsocieties Full Member https://bitcointalk.org/index.php?action=profile;u=171285

April 13, 2016, 04:33:53 PM
rajeshgarnaik Newbie https://bitcointalk.org/index.php?action=profile;u=532151
Caesar7 Newbie https://bitcointalk.org/index.php?action=profile;u=805271
ifrit2 Newbie https://bitcointalk.org/index.php?action=profile;u=823897
Isolani159 Newbie https://bitcointalk.org/index.php?action=profile;u=745892
sunce33 Newbie https://bitcointalk.org/index.php?action=profile;u=245285
anehh Jr. Member  https://bitcointalk.org/index.php?action=profile;u=807878
testbug Sr. Member https://bitcointalk.org/index.php?action=profile;u=197661
soulistyce Sr. Member https://bitcointalk.org/index.php?action=profile;u=159022


April 17, 2016, 02:53:31 PM
krysta11 Full Member=4shares https://bitcointalk.org/index.php?action=profile;u=111020

April 19, 2016, 07:52:00 PM
jovan85 Newbie https://bitcointalk.org/index.php?action=profile;u=823842
ranggawulung Newbie https://bitcointalk.org/index.php?action=profile;u=381611
bspus Sr. Member https://bitcointalk.org/index.php?action=profile;u=175505
janna_kiss Newbie https://bitcointalk.org/index.php?action=profile;u=827743
aqris Sr. Member https://bitcointalk.org/index.php?action=profile;u=467122

April 21, 2016, 07:46:22 PM
Crypto$$$$ Jr. Member https://bitcointalk.org/index.php?action=profile;u=552959
lhinglhung Jr. Member https://bitcointalk.org/index.php?action=profile;u=376479

April 23, 2016, 01:46:26 PM
alexxynn Member https://bitcointalk.org/index.php?action=profile;u=412319
gtzanap Newbe https://bitcointalk.org/index.php?action=profile;u=827740

April 27, 2016, 06:30:38 AM
valtin Newbie https://bitcointalk.org/index.php?action=profile;u=819267
umop-apisdn  Newbie https://bitcointalk.org/index.php?action=profile;u=808733
bison Jr. Member https://bitcointalk.org/index.php?action=profile;u=425444

April 28, 2016, 07:05:11 PM
umop-apisdn  Newbiew https://bitcointalk.org/index.php?action=profile;u=808733

April 29, 2016, 05:03:56 PM
rolik2001 Newbie https://bitcointalk.org/index.php?action=profile;u=830112

May 03, 2016, 08:46:00 PM
zdeni82 Full Member https://bitcointalk.org/index.php?action=profile;u=727572
adjiadjo Sr. Member https://bitcointalk.org/index.php?action=profile;u=231127

May 06, 2016, 05:38:46 AM
coinmenace Newbie https://bitcointalk.org/index.php?action=profile;u=818934

May 14, 2016, 09:42:42 AM
menace.bit  Newbie https://bitcointalk.org/index.php?action=profile;u=840458
Kisleav Member https://bitcointalk.org/index.php?action=profile;u=247399
Celendion Full Member https://bitcointalk.org/index.php?action=profile;u=662687

May 15, 2016, 08:52:40 AM
No coNnecT Newbie https://bitcointalk.org/index.php?action=profile;u=837806
Anatoliyb50 Jr. Member https://bitcointalk.org/index.php?action=profile;u=399972

May 20, 2016, 08:54:25 AM
ostrogoto2012 Newbie https://bitcointalk.org/index.php?action=profile;u=837410
kamrulhasan001 Member https://bitcointalk.org/index.php?action=profile;u=155192
venit4u Newbie https://bitcointalk.org/index.php?action=profile;u=341508

May 24, 2016, 10:10:15 PM
dfinc Member https://bitcointalk.org/index.php?action=profile;u=809158


May 14, 2016, 06:56:05 PM
Russian Translation Shares: (thank you Vadi2323 for translation): https://bitcointalk.org/index.php?topic=1434584.0
-> Doens't want his shares, told us to pass the shares to someone else. We will add them to very active ppl on the community/bitcointalk forum soon
hananl1styo Full Member https://bitcointalk.org/index.php?action=profile;u=670321
Total: 68 participants

May 15, 2016, 08:52:40 AM
Current LCpB value: 3.68



Shares from bounties (like translation of the ANN):
Russian translation: https://bitcointalk.org/index.php?topic=1434584.0
Vadi2323  https://bitcointalk.org/index.php?action=profile;u=399366

Total shares from bounties: 1 share

Updates / General informations from the thread:

currenty Bountys
Logo contest:
We think the current Logo isn't to bad but there can/could be a better one :-)
If you are a talented photoshop master maybe you can create a nice Logo for Lutetium.
This is actually very nice because YOU can give LC a face. The wallet will get recompiled (didn't release it yet, read above statement) and your logo will get included in the wallet!
Reward: Shares on the mining pool, permanent on the total "share PoW"
Simply upload your logo and your logo will get linked on the ANN below.

Current Logo, which is real physical Lutetium:


***Last update on submitted Logos: April 21, 2016, 08:03:46 PM***

sunce33: -  3 new logos submitted: May 23, 2016, 10:39:59 AM

 




ydrogios:


Caesar7


Isolani159


jovan85

[cryptoheadd]

Premine much?

[notsofast]

Centralized = why should I trust you = pass.

[Godson_Mansa]

This is basically an ICO

[Lutetium]

This is basically an ICO

It isn't an ICO.
Instead of passing all coins out on an airdrop we want to generate the feeling of mining.
This is also good for a small continous generation/free coins not held by the master wallet.

You don't have to buy shares, you can also promote LC with a forum signature (we will update this later), setting up a blockexplorer/node or other services.

This is a coin for the community and we think this a new way to "farm" coins without bunring energy. This will also help vs 51% attacks on POW coins because it is 100% POS with POW from premined coins which will all be distributed.

If the community dislikes this way of coin distrubution we could also change from 100% Premine to 10% Premine with mentioned distrubution and 90% PoW, we also thought about that way but in this case again much energy would be burned. Consider farming scrypt on 1GH/S, you have to pay continous energy costs (except you are lucky and don't have to pay for energy). With cloudmining you only need to aquire some shares for receiving continous payouts depending on how many shares there are in total (we are not sure about maximum share count yet) for one year.

[lin0sspice]

like POST

[noobwhosuckatlife]

This is basically an ICO

It isn't an ICO.
Instead of passing all coins out on an airdrop we want to generate the feeling of mining.
This is also good for a small continous generation/free coins not held by the master wallet.

You don't have to buy shares, you can also promote LC with a forum signature (we will update this later), setting up a blockexplorer/node or other services.

This is a coin for the community and we think this a new way to "farm" coins without bunring energy. This will also help vs 51% attacks on POW coins because it is 100% POS with POW from premined coins which will all be distributed.

If the community dislikes this way of coin distrubution we could also change from 100% Premine to 10% Premine with mentioned distrubution and 90% PoW, we also thought about that way but in this case again much energy would be burned. Consider farming scrypt on 1GH/S, you have to pay continous energy costs (except you are lucky and don't have to pay for energy). With cloudmining you only need to aquire some shares for receiving continous payouts depending on how many shares there are in total (we are not sure about maximum share count yet) for one year.

Wait, I'm asking seriously now...whats the point?
Can you make it clear for me?

[Lutetium]

This is basically an ICO

It isn't an ICO.
Instead of passing all coins out on an airdrop we want to generate the feeling of mining.
This is also good for a small continous generation/free coins not held by the master wallet.

You don't have to buy shares, you can also promote LC with a forum signature (we will update this later), setting up a blockexplorer/node or other services.

This is a coin for the community and we think this a new way to "farm" coins without bunring energy. This will also help vs 51% attacks on POW coins because it is 100% POS with POW from premined coins which will all be distributed.

If the community dislikes this way of coin distrubution we could also change from 100% Premine to 10% Premine with mentioned distrubution and 90% PoW, we also thought about that way but in this case again much energy would be burned. Consider farming scrypt on 1GH/S, you have to pay continous energy costs (except you are lucky and don't have to pay for energy). With cloudmining you only need to aquire some shares for receiving continous payouts depending on how many shares there are in total (we are not sure about maximum share count yet) for one year.

Wait, I'm asking seriously now...whats the point?
Can you make it clear for me?

Lutetium coin is designed to be 100% POS.
Instead or dropping/distributing all coins premined to the community we will have sth like a pool.
It is paying out 1250 LC every 60s and the users will, depending on aquired shares, receive LC like on normal POW coin. This service will be running for 1 year,after 1year all premined coins will have been payed out and it is 100% POS. In this way we generate the feeling of mining without the huge amount of energy needed for mining coins like BTC or DOGE. In addition there wont be all coins available in the beginning and the price can stabilize🙂

[noobwhosuckatlife]

This is basically an ICO

It isn't an ICO.
Instead of passing all coins out on an airdrop we want to generate the feeling of mining.
This is also good for a small continous generation/free coins not held by the master wallet.

You don't have to buy shares, you can also promote LC with a forum signature (we will update this later), setting up a blockexplorer/node or other services.

This is a coin for the community and we think this a new way to "farm" coins without bunring energy. This will also help vs 51% attacks on POW coins because it is 100% POS with POW from premined coins which will all be distributed.

If the community dislikes this way of coin distrubution we could also change from 100% Premine to 10% Premine with mentioned distrubution and 90% PoW, we also thought about that way but in this case again much energy would be burned. Consider farming scrypt on 1GH/S, you have to pay continous energy costs (except you are lucky and don't have to pay for energy). With cloudmining you only need to aquire some shares for receiving continous payouts depending on how many shares there are in total (we are not sure about maximum share count yet) for one year.

Wait, I'm asking seriously now...whats the point?
Can you make it clear for me?

Lutetium coin is designed to be 100% POS.
Instead or dropping/distributing all coins premined to the community we will have sth like a pool.
It is paying out 1250 LC every 60s and the users will, depending on aquired shares, receive LC like on normal POW coin. This service will be running for 1 year,after 1year all premined coins will have been payed out and it is 100% POS. In this way we generate the feeling of mining without the huge amount of energy needed for mining coins like BTC or DOGE. In addition there wont be all coins available in the beginning and the price can stabilize🙂

NEATO!

[Devesh]

How many total supply of this coin? Its like Postcoin wheres the wallet?

[Kushedout]

Where is the info on the coins purpose? Don't you think thats more important to include that info in the announcement than the distribution?
Why should I waste my time on this?

[Lutetium]

How many total supply of this coin? Its like Postcoin wheres the wallet?

Total supply after the 1year premined pool paying out the coins: 657,000,000 LC
After the first year, you will only be able to buy Lutetium on exchanges.

Where is the info on the coins purpose? Don't you think thats more important to include in the announcement than the distribution?
Why should I waste my time on this?

This is a good point, thank you for mentioning this. We will update the first post today.
Here some basics:
- New mining concept
- No burned energy for mining Lutetium
- "mining" possible in the first year for everyone, even without the need of buying shares
- No powerfull computer or ASICS needed, a computer with a running internet connection and Linux/Windows/Mac will be fine
- With earned BTC from shares from the pool we will have giveaways for everyone (in the beginning) registered on Bitcointalk. We are thinking about hardware for computers, like SSDs, HDDs, GPUs, ... and other nice stuff
- Connection to shops accepting cryptocurrencies so you can actually buy items on the internet with LC

Future plans:
- Direct conversion from Lutetium to BTC, LTC and ETH
- ETH connection

We don't think, that every coin will stay alone. We believe, that something like ETH is doing is the future for cryptocurrencies. We are thinking about, in some way, to connect the wallets of 3 coins in total for takeing the best features of everycoin, like faster transaction times, additional nodes, ...
Well this will take some time ofcourse, but we will see what future is holding for cryptocurrencies.


We are also open for ideas from the community. If you have any good ideas feel free to PM or post here.

[Lutetium]

Share forum signature compaign:

Signature musst be visible on the forum for 1 week after launch.
Please get a signature like this:

[ANN] [LC] Lutetium - Get free mining pool shares

link to Lutetium bitcointalk forum attached

please remove the * and you have working signature
[url*=https://bitcointalk.org/index.php?topic=1414368.msg14331883#msg14331883][ANN] [LC] Lutetium - Get free mining pool shares[/url]

After adding this signature line please post here for getting your nickname on the list.

For being a part of the campaign you will receive one share from the pool.

Total shares will be calculated like:
bought shares + x users with signature=total shares

Shares are valid for the whole time of cloudmining

[Inves]

ready mining  

I can not add a link , Max 50 characters

[vingaard]

Ok... I'm ready 

[loutchano]

Ready 

[sxafir]

Ready.

[Lutetium]

We added sharelist on the bottom of the starting post.
We will update shares atleast twice a day and we will also check your signatures from time to time

Wallets will be available on launch.

[ydrogios]

Ready from me too

[ioncanon]

Ready