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

[LEOcoin Foundation]

greetings! can I ask why suddenly this project was considered unprofitable?

The LEOcoin project is alive and profitable; LEOcoin staking in your wallet is bringing in profits: 20% when over 50,000 LEOcoin, 15% when over 5,000 LEOcoins and 10% when over 1,000 LEOcoins.

[Joan of Arc]

@LEOcoin Foundation can you help me out?

An old wallet that I was mining in 2015 has some LEOcoins. First I backed up the wallet not to mess up something.

I tried with small amount to UPGRADE coins step by step as instructions say on www.upgrade.eocoin.org

The wallet is 3years old so it did not confirm transaction to UPGRADE address I received on your site. I have tx file but it has 0 confirmations and I am afraid this is not getting confirm  in 24h (after that upgrade wallet will expire)


So on another comupter I installed new version of Wallet v3 and sync in few hours

PROBLEM:
In new wallet I have 0 balance in OVERVIEW but I can see LEOcoin transactions under RECENT TRANSCACTIONS.

I am stuck 

[LEOcoin Foundation]

@LEOcoin Foundation can you help me out?

An old wallet that I was mining in 2015 has some LEOcoins. First I backed up the wallet not to mess up something.

I tried with small amount to UPGRADE coins step by step as instructions say on www.upgrade.eocoin.org

The wallet is 3years old so it did not confirm transaction to UPGRADE address I received on your site. I have tx file but it has 0 confirmations and I am afraid this is not getting confirm  in 24h (after that upgrade wallet will expire)


So on another comupter I installed new version of Wallet v3 and sync in few hours

PROBLEM:
In new wallet I have 0 balance in OVERVIEW but I can see LEOcoin transactions under RECENT TRANSCACTIONS.

I am stuck 

It seems you are stuck. Since 2015 there have been major changes to the blockchain, first the move to POS in 2016 and then the upgrade in 2017. This means that the wallet.dat files are not compatible between the V1/V2 and V3 versions. Please contact LEOcoin support in order to see if they still can convert your coins. But honestly, I would not have big hopes.

[Joan of Arc]

THANKS for the advice. Will do that and update community how it went.

[ehas]

Can you please explain from where did 74 000 000 LEO came from?? In Beginning of April there were only 9 000 000 LEO staking and than suddenly 83 000 000 LEO... From where?? What I know is aprox 1 400 000 bloks were mined with POW reward 20LEO (with every N-factor change halving reward???). Thats 28 000 000 LEO distributed and from what i know is that LEO foundation is not allowed to stake, as they have enormous 5% premine vs distribution!!! So i ask you again from where did those 74 000 000 LEO came from!!!???

[LEOcoin Foundation]

Can you please explain from where did 74 000 000 LEO came from?? In Beggining of April there were only 9 000 000 LEO staking and than suddenly 83 000 000 LEO... From where?? What I know is aprox 1 400 000 bloks were mined with POW reward 20LEO (with every N-fator change halving reward???). Thats 28 000 000 LEO distributed and from what i know is that LEO foundation is not allowed to stake, as they have enormus 20% premine vs distribution!!! So i ask you again from where did those 74 000 000 LEO came from!!!???

According to the Coin Market Cap website the supplies are:

Circulating Supply = 101,743,211 LEO
Total Supply = 110,100,629 LEO

Both is even higher as the figures you see for stake in the wallet. Apparently some larger wallets are now online and staking. I assume this could mean, that these wallets had previously not staked, but now do.

I have not heard about your utterance, that the LEOcoin Foundations is not allowed to stake, as far as I know, they voluntarily refrained from staking. And, refraining is something else as not being allowed.

Yet, in fact, as the LEOcoin Foundation is a not-for-profit community interest company, they depend on gifts and stake to provide for their income to cover the costs of running the foundation. So, it might be, that they stake, if their budget is running low and then refrain from staking again, so more stake would go to the other wallets.

[yyz13857180757]

I think LEOcoin's vision is really good, but the reality is really very helpless, because to achieve such a lofty goal, we need to overcome too many difficulties. Come on! LEOcoin's team.

[LEOcoin Foundation]

We have the policy of deleting posts when they are not serious or attacks or the question has already been answered. Reposting deleted post will lead to further deleting and result in a negative attitude towards this poster by the moderating team.

LEOcoin has been X11 POS without POW since the upgrade last year. This has been published, so there is nothing new about the move from the old algo to the new one. Before that, since the summer of 2016, LEOcoin was already a full PoS coin, so that is almost 2 years now.

The LEOcoin Foundation is a community interest company. The capital of the LEOcoin Foundation was donated by a third party as part of building the LEOcoin community. As such the LEOcoin Foundations has no investors and thus has not and cannot have made promises to investors. For details see the website of the LEOcoin Foundation.

[Travis726]

"result in a negative attitude towards this poster by the moderating team."

I wont lie... I lol'd..

[LEOcoin Foundation]

"result in a negative attitude towards this poster by the moderating team."

I wont lie... I lol'd..

Well, laughing is healthy ... 

[LEOcoin Foundation]

Update from LEOcoin Foundation Chairman Dan Andersson (09-07-2018)

Stage 3

LEOcoin Foundation is a ‘not-for-profit’ organisation that was established to ensure that LEOcoin remains a key part of the LEO infrastructure. It is responsible for the technical roadmap and the on-going activities to promote LEOcoin and educate and inform on the whole subject of digital currencies. We have seen its work in establishing a Digital Currency Day and in informing and influencing legislators, not least in the formation of the All Party Parliamentary Group (APPG) of digital currencies in the UK where it sits on the committee that advises and educates legislators and politicians. Its remit is world-wide. Mihir Magudia often gets asked ‘what makes LEOcoin different?’ Apart from its longevity and widely availability on independent exchanges around the world (proving that it is not a ‘pump and dump’ scheme) the obvious difference is the LEOcoin Foundation. LEOcoin Foundation in its role as custodian of the roadmap make sure that the technical platform, the innovation and the marketing of LEOcoin remain a focus of LEO. LEOcoin Foundation sets the direction for innovation such as the use of the blockchain to add privacy and security to LEOcoin wallets and now, in the next stage of its development. Stage 3 will focus on supporting Merchants such as deploying blockchain technology in relation to the support of digital contracts and for global payment mechanisms. We are in some ways going back to our roots and the technology underlying LEOcoin in these exciting new development. More will be revealed over the next months.

[LEOcoin Foundation]

From Twitter:

"We are attending the APPG Meeting for digitalcurrencies today. Mihir Magudia will sit down with MPs, academics, journalists and other industry experts to discuss the impact, risks and benefits of digitalcurrency in the UK"

LEOcoin Foundation was represented by Mihir Magudia and further introduced digital currency and LEOcoin to policy makers and other interested parties.

[LEOcoin Foundation]

From Twitter:

First LEOcoin store opened: https://twitter.com/LEOcoinORG/status/1019549850180829185

[LEOcoin Foundation]

Will LEOCoin go back to levels of the past? The volume is over 1 million dollars, but apparently not convenient yet for some to see LEO above $1, right? I'll be watching, why not reduce the circulating? Is this TOPBTC exchange Chinese?

For as far as I know, TOPBTC is a Chinese exchange. As many LEOcoin HODL'ers are located in China or Chinese in origin, it is encouraging to see such volumes. The LEOcoin Foundation is not involved in trading and thus cannot give advice with regard to future trading prices, but on a personal level, I of course do hope, that increasing interest in LEOcoin will result in price stability or even a rise in price. Again, this is dependent on external market forces.

Historically seen, 1$ is on average less than the mining costs for a LEOcoin, so as such, this is not an unimaginable figure, but my estimation is, that it will take time to create more demand. As the LEOcoin Foundation is mainly active in promoting LEOcoin and other legitimate digital currencies, we hope and strive that our actions will support such a rise in demand.

[LEOcoin Foundation]

Update from LEOcoin Foundation Chairman Dan Andersson (23-07-2018)

LEOcoin Stage 3

“This is a big announcement of a major change in the LEOcoin technical environment. When we launched LEOcoin it was based on the Bitcoin blockchain which was the best in the industry. LEOcoin2 was a development to add new facilities like security, Proof of Stake and privacy.

What has been strong about LEOcoin since 2014 was our agility. LEOcoin Foundation looks after the interests of LEOcoin and they have decided that it is time to go to the next level. We are going to move to the Ethereum blockchain.
What does this mean?

It means that we will be able to take advantage of the latest functions and features of their blockchain. Bitcoin is the founder of this idea and over the years since its launch it has tended to focus on the store of value in bitcoin and as it has grown, so has its community, to the point where it is so large it is suffering from decision paralysis. There have been questions asked about its speed and cost of transactions. There comes a point where legacy issues get in the way, preventing it from scaling up and introducing new applications. Decision making is slow.

In 2015 Ethereum launched as a platform designed to support business application development and they encouraged developers to join their community and help it grow and that included smart contracts. This has made it attractive as our next strategic step. How good is the underlying technology? How modern is it? How useful will it be to LEOcoin?

Studies by the Chinese Government, reported recently on CCN, show it to be the ‘best blockchain network in the world’. LEOcoin Foundation want LEOcoin to be on the best platform but it does not want to take risks. LEOcoin Foundation have decided that now is the time to migrate to the Ethereum blockchain as it represents a low risk opportunity that will bring many benefits for LEOcoin and the LEOcoin community, especially Merchants.

We are probably 2 months away from making that migration. Being on the Ethereum blockchain will have enormous benefits, not least of which is the opportunity to be represented on every major exchange around the world, which can only help increase the size and reach of the LEOcoin community. We will be able to access a raft of business applications, ready for us to integrate with, built by experts, including smart contracts.

… when we migrate to Ethereum, we will reward everyone who has a LEOcoin with a bonus into their wallet for every LEOcoin they hold. We will be working on the Merchant programme with the smart contract and on incentives and on PR to make everyone aware of what we are doing, which will help you get the message where it needs to be for your business and allow you to take advantage of the incentives. More will be revealed over the coming weeks …”

[mannaart]

Nederlands project Roel?

[LEOcoin Foundation]

Update from LEOcoin Foundation Chairman Dan Andersson (30-07-2018)

LEOcoin Stage 3

Mihir is also Executive Director of LEOcoin Foundation. LEOcoin Foundation is a ‘not for profit’ organization charged with overseeing the strategy of LEOcoin and driving understanding of the digital currency environment.
This includes promoting LEOcoin and digital currencies with government and journalists around the world to discover new advancements and to educate, promote and be part of the debate, and influencing where it is needed and delivering its community objectives.
As part of this remit to ensure that LEOcoin grows and competes in this environment it is driving the strategy that includes:

• A major change in the LEOcoin technical environment. We are going to move to the Ethereum blockchain. What does this mean? It means that we will be able to take advantage of the latest functions and features of their blockchain. Benefit from the technical advances that its platform has made, including the design to support business application development and the pool of developers that are part of that community
• The opportunity to be represented on every major exchange around the world, which can only help increase the size and reach of the LEOcoin community
• Access a raft of business applications, ready for us to integrate with, built by experts, including smart contracts that will allow us to add exciting new features to the LEOcoin environment and to provide reward programmes better targeted at rewarding the ‘positive behaviour’ we want to promote
• An upgrade to the Merchant programme with the smart contract including incentives
• POS will be enhanced
• Launch plans are in place: the details will be with us soon to show how we will deliver a better, faster, more functional LEOcoin
• Initial response in the LEOcoin community and in the marketplace in general has been positive as you can see from the price performance graph that is available through CoinMarketCap, an independent digital markets information source  
• More will be revealed over the coming weeks …

[LEOcoin Foundation]

Nederlands project Roel?

No, the LEOcoin Foundation is from the UK and LEOcoin is regarded as one of the first 'British' digital currencies.

[leocoinexpert]

Hello,

Will coin migrate to ethereum in upcoming upgrade?

No. ETH currently has no staking mechanism.

with the annouced migration to Ethereum, how will this work ?
Will there be changes to the POS rewards and mechanism ?

[LEOcoin Foundation]

Hello,

Will coin migrate to ethereum in upcoming upgrade?

No. ETH currently has no staking mechanism.

with the annouced migration to Ethereum, how will this work ?
Will there be changes to the POS rewards and mechanism ?

LOL, the quote was referring to last years upgrade to our current chain, not to this years upgrade in becoming an Ethereum token. For now, I have disclosed all information available in the recent updates. I expect to post additional information at Tuesday or Wednesday this week. With regard to your specific questions, with regard to the current POS mechanism, I can repeat the comment of last year, as for today, Ethereum has no staking mechanism.

However, with help of the smart contract technology, it is possible to create similar reward mechanisms, yet not identical to our current POS mechanism. We are still in the process of going through all available options and we will inform this forum's readers in due time. For now, LEOcoin is staking as it should. Please check the forum regularly for new updates. Thanks for you questions and interest in LEOcoin.