ANN - LEOcoin - Official LEOcoin thread (moderated by LEOcoin Foundation)

[leocoinexpert]

Thank you very much for your prompt reply.

It will be interesting to see how you will implement POS with Ethereum.
I am looking forward to new annoucements.

Another question:
Will the recent sale of LeoXchange by Leo Ltd to Mr Atif Kamran change something for the work of the Foundation or for the development of Leocoin ?

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[LEOcoin Foundation]

Thank you very much for your prompt reply.

It will be interesting to see how you will implement POS with Ethereum.
I am looking forward to new annoucements.

Another question:
Will the recent sale of LeoXchange by Leo Ltd to Mr Atif Kamran change something for the work of the Foundation or for the development of Leocoin ?

Again, as ETH chain currently does not offer POS, we cannot implement this mechanism, we are looking for alternative reward mechanisms and evaluating what is already implemented by other tokens.

As LEOxChange and LEO Ltd. are third parties, the LEOcoin Foundation cannot comment on their policies, nor confirm or deny any changes in ownership. For this, please contact Mr. Kamran's office and/or LEO support.

[turn2flush]

What will be different between LEOcoin and another 1000 tokens on ethereum chain?

[LEOcoin Foundation]

What will be different between LEOcoin and another 1000 tokens on ethereum chain?

We currently cannot go into all specifications, but as an ETH token, we can join the many advantages that the ETH platform is already offering, both when it comes to the smart contract technology, as with regard to wallets, cold storage devices and web integration for merchants and online business. From the start, LEOcoin was not thought as a hype or speculative coin, but has it been the vision of the founders to be used as currency for payments and between the members of the LEO network. We see no harm in joining a successful platform like the Ethereum network, and from there we will work on more distinctive features.

As foundation, we have not been overly active, but had many opportunities to present LEOcoin and digital currencies in general to a broad audience. Unlike many ETH tokens that hardly have 2500 addresses used, LEOcoin has a much wider user base and it is the community behind LEOcoin that will make the difference on the long run. Many who first met with crypto because of LEOcoin, are now well introduced to the general crypto market and now trade and invest with considerable success. Every week, I hear stories in this regard.

But you are right, in principle, we will need to find a way to set LEOcoin apart and gain momentum and that is what we intend to do.

[turn2flush]

Thanks for your reply. Maybi is too early to ask this question but still, have you as a LEOcoin Foundation any plans in future to move/create its own blockchain with same advantages like ethereum, but with some improvements? I think that ethereum is much better than bitcoin, but still slow and expensive, not for mass market, which is LEO vision for LEOcoin.

[LEOcoin Foundation]

Thanks for your reply. Maybi is too early to ask this question but still, have you as a LEOcoin Foundation any plans in future to move/create its own blockchain with same advantages like ethereum, but with some improvements? I think that ethereum is much better than bitcoin, but still slow and expensive, not for mass market, which is LEO vision for LEOcoin.

The plan for now is to move LEOcoin to the Ethereum chain. From there we will see further.

With your view, that Ethereum is better than Bitcoin, one can agree or differ. BTC being the older crypto currency and ETH being a smart contract platform that hosts many tokens, it is certain that both have earned their dominant position on the market. And, as the entire crypto-market is far from being ready for, or near adoption by, the mass market, it is indeed too premature to ask when or how LEOcoin will realize its goals and objectives on the long term. This said, it was obvious from the start in 2014 that we had a long way to go, just like all coins and tokens had. Yet, considering that many alt-coin have lost up to 90% of their value (both in BTC as in fiat) we can only be happy how relatively well LEOcoin did perform and when we add the 10-20% stake reward to that, I trust that also our HODL'ers will be fine with what was achieved during the turbulent crypto-times of the last half year.

[LEOcoin Foundation]

LEOcoin3 - Update from Dan Andersson - LEOcoin Foundation Chairman - 20th August 2018

We estimate that we will be in a position to launch in October or November 2018. We have spoken about the immense step forward this represents for LEOcoin in terms of its technical base and the opportunity it offers for Merchants and holders of LEOcoin – the whole LEOcoin community will be invigorated by this launch. There will be an upgraded website to exchange LEOcoins and there will be rapid rewards for LEO Members.
 
The roadmap is: New merchant programme; New proof of stake mechanism; New exchanges; New wallets; New smart contracts; KYC wallets; and New rewards.

The launch is referring to the move from LEOcoin to the ETH-chain, as mentioned in the previous updates. This is currently all that Dan wishes to disclose, so stay tuned for further updates ...

[leocoinexpert]

Dear Leocoin Foundation,

thank you for all the information you provide.

Where I am confused:

Who is leading the project?
The Foundation or another third party like Leo Corporate ?

[LEOcoin Foundation]

Dear Leocoin Foundation,

thank you for all the information you provide.

Where I am confused:

Who is leading the project?
The Foundation or another third party like Leo Corporate ?

The project was initiated by people within the LEO community, hence the name 'LEOcoin'. However, as a crypto-coin LEOcoin is owned by the holder and from the start it was the goal to establish a foundation that would look after the common interest that all holders of LEOcoin have. Third parties, like LEO Ltd. and others, can and have made contributions to the development of LEOcoin, and as it is open source, this is a natural development. With regard to leadership, it boils down to the question of who is doing what. When community members or third parties help in supporting LEOcoin development, we welcome that, but when it comes to the development of wallets and the blockchain, it is obvious that the LEOcoin Foundation is involved in setting out the course and leading our development team.

Fact remains, that the pre-mine has been distributed among the LEO community, which results in seeing the LEO community and the LEOcoin community overlap. Yet, from the start there have been crypto guys and galls involved too, first with mining, then with offering mining pools, exchanges, block-explorers and mobile apps and now in the support of trading and staking LEOcoin. So, as you see, several third parties in multiple disciplines have been and will probably always will be part of the LEOcoin community. And, whenever they employ activities beneficial to LEOcoin, we welcome that, as it is not about leadership, but about creating a good, stable and solid coin (and soon token) for our community members aka LEOcoin HODLers.

Please do not worry about who precisely is doing what, but enjoy our good stake and the relatively stable prices. Many newbie ICO tokens have decreased in price and volume up to 90% this year, LEOcoin was at 1,666 satoshi at January first of this year. Today we stand at 2,721 sat, which is not a bad situation at all. If we e.g. compare Ether, we see that this coin was valued at 0,0566 BTC and today is at 0,04131 BTC. So seen, we are relatively happy with LEOcoin performance, but we wish to move on and scale up, so we are now working on getting LEOcoin on the ETH-chain, in order to get smart contracting and other advantages that can be used to bring further benefits to our community and LEOcoin.

[leocoinexpert]

Thank you for your response.

I was not talking about the Leocoin projet in general.

But about the upgrade to move to the ETH Blockchain.

Is this upgrade led by the Leocoin Foundation ?
Or does a third party (also) decide on new features and details ?

[LEOcoin Foundation]

Thank you for your response.

I was not talking about the Leocoin projet in general.

But about the upgrade to move to the ETH Blockchain.

Is this upgrade led by the Leocoin Foundation ?
Or does a third party (also) decide on new features and details ?

The LEOcoin Foundation of course works with third parties, like external programmers and advisers, with regard to blockchain technology and solidity.

[leocoinexpert]

Thank you.

Another question: Did I understand correctly what Dan and Mihir said:

The Leocoin Foundation will - for a short time - give out Leocoins to Leo members that purchase a special Leo pack ?

[LEOcoin Foundation]

Thank you.

Another question: Did I understand correctly what Dan and Mihir said:

The Leocoin Foundation will - for a short time - give out Leocoins to Leo members that purchase a special Leo pack ?

Not that I am aware of, so your impression seems to be false. Dan recently revealed the plan for LEOcoin³ which will launch by November 2018 with an upgraded website to exchange LEOcoin.

As you state that both, Dan and Mihir said something - viz. the thing that you seemingly did not understand correct - it would be fair to provide sources and evidence for your utterance. Otherwise it looks like you are putting words into their mouths and run the risk that you are thus - by accident or deliberately - lying.

Valuing clear statements, I have started an inquiry to find out more about this issue and will respond accordingly when I can.

Meanwhile, what the LEOcoin Foundation, the LEOcoin community and readers of this forum do not need, is another round of frustrated ex-LEO members that come trolling and spreading FUD over here. We are heading towards a new step in the LEOcoin ecosystem and many new and exciting changes lie ahead of us. As said in a previous post, it is my view, that LEOcoin is doing remarkably well considering the bear market and the falling prices of most coins and tokens, so let's keep the positive energy flowing, so at the end, all HODLers will be the winners.

[leocoinexpert]

Dear Leocoin Foundation,

here it is
https://www.learnearnown.com/leo/LeoBusiness/VideoDetail/16074251/Recorded-webinars/Global-Associate-Meeting-20-August-2018

starts at 46m:00 approx.


This might be a  big step forward to get more people into Leocoin.

Does the Foundation use its POS rewards to give out these coins?

[LEOcoin Foundation]

Dear Leocoin Foundation,

here it is
https://www.learnearnown.com/leo/LeoBusiness/VideoDetail/16074251/Recorded-webinars/Global-Associate-Meeting-20-August-2018

starts at 46m:00 approx.


This might be a  big step forward to get more people into Leocoin.

Does the Foundation use its POS rewards to give out these coins?

Dear forum readers,

As the LEOcoin Foundation has up to now made no official statements that I could use to answer your questions, I will give my personal opinion on this.

As indeed, some of the LEOcoin Foundation leaders are involved in LEO Ltd., the LEOcoin Foundation's support for the LEO network might easily be misrepresented or dramatized by trolls and FUDers, but hey, they will do their jobs at whatever happens to LEOcoin … so …

But FUD and trolls aside – there are perhaps sensible reasons for incentivising current and new LEO members. One of these reasons that comes to my mind would be, that the LEOcoin community to a large extent is made up by LEO members in the first place and keeping them connected with their own coin is generally a good thing. Another reason might be, that - unlike many ICO that raised millions, but now are below ICO prices - LEOcoin has been a remarkably stable coin and spreading a well performing coin, is sound praxis.

The supporting and incentivising done by the LEOcoin Foundation is part of the Foundations’ tasks while building the LEOcoin community. The LEOcoin Foundations capital was granted to the Foundation specifically for such purposes and as the factual LEO member base is large and still growing, joining in on that growth, will also secure growth of the LEOcoin community itself. Then, unlike many ICO tokens that are far below 50,000 unique addresses on the ETH-chain, the LEOcoin community has far more holders and growing that number is important, as the more people are involved with LEOcoin in a positive way, the better it is for the LEOcoin community as a whole – a clear case of the Wikonomics principle.

As LEOcoin will move to the ETH-chain, the functionality and chain-development of the Ethereum blockchain will add many benefits and opportunities to LEOcoin itself and for its holders. To attract extra attention from new holders and users of LEOcoin at this moment, is strategically sound, I think, then, if we double the community, and double it again, everyone wins.

As mentioned earlier, this is my personal private opinion on the case and NOT an official statement of the LEOcoin Foundation, which may - or may not - be given later on. And, being a LEOcoin community member myself, I just as anyone here, am entitled to ventilate my own thoughts, some now and then. Nevertheless, I hope to have presented you readers with some arguments, that, although not officially stated, are likely to have played some kind of role in the decisions at LEOcoin Foundation headquarters.

If someone wishes to discuss with me about my private opinion, please contact me with a PM. As this is not an official statement, I see no reason to discuss this broadly on the forum. For more information, about the why and how and from what ‘account’ it is financed, we shall have to wait for an official and binding statement.

[turn2flush]

Will pos reward stay the same as now when we migrate to ethereum?

[LEOcoin Foundation]

Will pos reward stay the same as now when we migrate to ethereum?

I cannot tell you at the moment. As the Ethereum platform does not offer a PoS-mechanism on the mainchain, we need to work on another form of reward system. As we are still in the development phase, it is not yet all fixed, but as soon as I can tell more, I will share it here on the forum.

[turn2flush]

What will Foundation do for more liqudity? Cus 1000 dollars per day is funny for serious project.

[leocoinexpert]

What will Foundation do for more liqudity? Cus 1000 dollars per day is funny for serious project.

According to CoinmarketCap, there is a 24h volume of 1 million $ !

That is 10% of the market capitalisation.

If you compare that to Bitcoin, it is 30 time more than the corresponding value for bitcoin !

So it is actually an extremely liquid market !

[turn2flush]

Yes, but volume on topbtc is fake. Everyone knows that.