[ANN][HLM] HELIUM

[SockPuppetAccount]

We already made the Spreadcoin community know about the intentions to do an economic fork. The escrow process is coming along and we have a very trusted BCT member that is open to helping out on that.

It won't be some five minute process either. People that pop in once a year will still find they can redeem their HLM's.

HLM is going to be a DASH fork. So it's easier to use an escrow to redeem coins than try to create some fancy automated process. Only you and the escrow will know your coin holdings - so please take into account an escrow fee. We will need to cover off people that fancy chancing their luck and claiming and claiming and claiming using the same set of coins.

To be honest, I haven't paid any attention to Spreadcoin in ages but was thinking about picking some up to get in on this.  Before I do so however, I want to be sure the swap is going to be handled properly.  I can't see how using an escrow to manually send out coins is a workable method of distribution.

Are you going to continue offering HLM to all newly mined Spreadcoin?  If people can still claim HLM even if they only "pop in once a year", you are basically saying all Spreadcoin mined for the next year will be honored as well.

How exactly are you going to be able to ensure that people aren't using the same coins to continue claiming more HLM over and over again?  This WILL be abused.

What's to stop someone from buying Spreadcoin, using it to get their free HLM, then dumping their Spreadcoin?  Then someone else comes along and does the same thing.  And someone else comes along and does the same thing.  See where I am going with this?  Not only can a single person easily abuse the system to continually redeem the same coins, but MANY MANY people will end up buying, redeeming, and selling the same coins.  This will NOT be a rare occurrence.  Most of the HLM will end up in the hands of people abusing the system, and you will end up running out of HLM long before all the honest holders have redeemed their coins.  I GUARANTEE this is what will happen.

[KarmaShark]

We already made the Spreadcoin community know about the intentions to do an economic fork. The escrow process is coming along and we have a very trusted BCT member that is open to helping out on that.

It won't be some five minute process either. People that pop in once a year will still find they can redeem their HLM's.

HLM is going to be a DASH fork. So it's easier to use an escrow to redeem coins than try to create some fancy automated process. Only you and the escrow will know your coin holdings - so please take into account an escrow fee. We will need to cover off people that fancy chancing their luck and claiming and claiming and claiming using the same set of coins.

To be honest, I haven't paid any attention to Spreadcoin in ages but was thinking about picking some up to get in on this.  Before I do so however, I want to be sure the swap is going to be handled properly.  I can't see how using an escrow to manually send out coins is a workable method of distribution.

Are you going to continue offering HLM to all newly mined Spreadcoin?  If people can still claim HLM even if they only "pop in once a year", you are basically saying all Spreadcoin mined for the next year will be honored as well.

How exactly are you going to be able to ensure that people aren't using the same coins to continue claiming more HLM over and over again?  This WILL be abused.

What's to stop someone from buying Spreadcoin, using it to get their free HLM, then dumping their Spreadcoin?  Then someone else comes along and does the same thing.  And someone else comes along and does the same thing.  See where I am going with this?  Not only can a single person easily abuse the system to continually redeem the same coins, but MANY MANY people will end up buying, redeeming, and selling the same coins.  This will NOT be a rare occurrence.  Most of the HLM will end up in the hands of people abusing the system, and you will end up running out of HLM long before all the honest holders have redeemed their coins.  I GUARANTEE this is what will happen.

There are some valid concerns here and the development team is aware of the sensitivity of such a matter. Rest assured, the final details of the distribution will be well thought out, not overly burdensome from an admin perspective, secure and relatively easy to follow (some of this is achieved by giving prior notice and ensuring security of the process is empathised). Appreciate the time you took to put some thought into this and I do hope you continue to follow both the Spreadcoin and the HLM project as it progresses.

More details forthcoming 

[SockPuppetAccount]

There are some valid concerns here and the development team is aware of the sensitivity of such a matter. Rest assured, the final details of the distribution will be well thought out, not overly burdensome from an admin perspective, secure and relatively easy to follow (some of this is achieved by giving prior notice and ensuring security of the process is empathised). Appreciate the time you took to put some thought into this and I do hope you continue to follow both the Spreadcoin and the HLM project as it progresses.

More details forthcoming  

I hope so, because I just bought 7500 Spreadcoin  

Just saying, don't be so eager to get the ball rolling on HLM that the fundamentals of a proper distribution are ignored.  A bad distribution can haunt a coin for it's whole life.

Manual coinswaps where the original coins are NOT kept by the original owner are sub-optimal, as they open up possibilities for abuse by the developer/escrow/exchange that is doing the swap.  This is generally not a big deal if the developer/escrow/exchange is well-trusted however.

But a manual coinswap where the original coins ARE kept by the original owner?  That opens up endless possibilities for abuse by every two-bit altcoin trader under the sun!

In situations such as this, I can't imagine anything other than taking a blockchain snapshot at a pre-determined block and distributing the coins automatically to be viable.  CLAMS and a handful of other alts have done this in the past.  My recommendation would be to follow their lead on this one.

[coins101]

This is why I'm so **** with DASH Evolution and also waiting for so long to see it come into production. HLM is not a new project, it's an existing project that needs to deliver what was conceived two years ago:

-snip-
long term? ... seriously? ... one can plan and plan and plan then make inroads to implement these plans - only to be stopped short because the ruling bodies ( yes - government mainly ) has placed a piece of legislation doing one thing or another ... or has china not taught us anything at all? ...

plans and long term optimism is great ... REALITY and the functionality of what spr brings to the table is another ...
-snip-
#crysx

"Long term? Seriously?"

Yes. 100%.

Short-termism is shitcoinsim.

I have previously defined shitcoinism as:

noun, devoted love, support, and pack hunting for one's shitcoin. technology development zero.

If you think you  can build something sustainable in a few months, or a year, then you've never worked on a real project before.  As you say, look at Bitcoin: that is still in beta since 2008/09.

I do, however, like miners like you (unfair sweeping assumption coming, for illustrative purposes only). You provide liquidity when others mine and hodl or people invest and hodl.

Miners on projects such as SPR are very, very welcome. Why? Well, unlike the Nr.1 loser, Litecoin (I could never understand why aspiring to being Nr.2 was held up as an aspiration), we won't have thousands and thousands of coins spewing out every day and being dumped on the markets by miners to pay for costs.

At some point miners will get their rewards cut, or they should, in order to give extra incentives to servicenode holders - to start with.  Sir Crouton will tell you that he thinks miners should get zero rewards and be cut out of the equation altogether - all the rewards should go to servicenodes who will end up supporting the network. I have disagreed with this view since it was first aired as miners are still needed in the background to provide a second tier of network security, as well as liquidity. But the solo mining emphasis brings an extra dimension to the future plans and prospects of SPR.

Plans and future optimism (i.e. not shitcoinism)

There is no point competing with Bitcoin. And there is no point competing with DASH, which is competing with bitcoin.

In the pursuit of a valuation equalling bitcoin, I think you have to come up with an alternative plan to direct competition. I think you have to create an eco-system that itself is in demand rather than producing a simple currency that will never be used as a currency without an inherent reason.

For that to become clearer, I have been informed we will have to wait until mid next week.

Later today I will provide a mini update, as we thought the new ANN was going to be up by this weekend.

Bold and size increase emphasis added.

[AnotherNode]

Let's go for it!



$170k to $300m  

[entropycoin]

I'm excited at the prospect of a vehicle that finally has the potential to realize coin's vision for servicenodes, especially because I still own some spr. Though not nearly as much as I once did in the pre patronage/cockroach days. I too question the methods for initial distribution. I think a better approach would be a blockchain snapshot, though you would need to provide sufficient notice of a designated snapshot date so folks have ample time to move their spr from bittrex to an wallet address in their possession. Regardless of the method for distribution, I eagerly look forward to hearing more details as they emerge.

[bathrobehero]

Interesting.

Will this be mineable? If so, what algo?

[Amph]

Interesting.

Will this be mineable? If so, what algo?

yes they said pow algo is undecided yet, not x11 for sure even this si a fork of dash, i hope for a new algo, but with fair launch

[kurbeks]

Long time no Scrypt coins

[KarmaShark]

OP has been updated with more technical specifications of the HLM project, take a peek.


Reminder: If you are interested in getting involved with HLM, please contact Coins101 or myself directly. We will have more information coming out soon on how you can actively get involved in what will be one of the most talked about blockchain projects in 2017 (and beyond).

[bathrobehero]

Interesting.

Will this be mineable? If so, what algo?

yes they said pow algo is undecided yet, not x11 for sure even this si a fork of dash, i hope for a new algo, but with fair launch

I'm hoping it will be SpreadX11 but I'm skeptical. It might not be that easy to implement into Dash codebase?

[coins101]

Just so everyone is aware, I am not buying or selling any SPR during this transition period.

[kokokoin]

Any ETA for this project?

[rhinomonkey]

I am happily going to be supporting this project. Looking forward to a bright future.

[coma1013]

I am happily going to be supporting this project. Looking forward to a bright future.

[chrysophylax]

helium ...

me likey ...

seednodes can be setup - as long as coins are set in them so they have stake weight to keep them in a valid / continuous consensus state ( and hardcoded - which is the usual practice ) - as we have with those coins we have for our own and those we support ... this makes for a seamless and simple sync system for those that want to simply and easily sync without fiddling with conf files / addnode searching ... simplifying the backend and infrastructure - its what we do at cwi ...

when our website is completed - we will have a LOT more for those coins that we support available ...

if you like to have this done - just pm me and we will get that started when the code is available to compile ...

our support of helium ( hlm ) will begin on that note ...

#crysx

[coins101]

helium ...

me likey ...

seednodes can be setup - as long as coins are set in them so they have stake weight to keep them in a valid / continuous consensus state ( and hardcoded - which is the usual practice ) - as we have with those coins we have for our own and those we support ... this makes for a seamless and simple sync system for those that want to simply and easily sync without fiddling with conf files / addnode searching ... simplifying the backend and infrastructure - its what we do at cwi ...

when our website is completed - we will have a LOT more for those coins that we support available ...

if you like to have this done - just pm me and we will get that started when the code is available to compile ...

our support of helium ( hlm ) will begin on that note ...

#crysx

Looking forward to working with CWI.

It's been a while since I've visited Australia 

[szafa]

How you support another coin,buying?

[chrysophylax]

helium ...

me likey ...

seednodes can be setup - as long as coins are set in them so they have stake weight to keep them in a valid / continuous consensus state ( and hardcoded - which is the usual practice ) - as we have with those coins we have for our own and those we support ... this makes for a seamless and simple sync system for those that want to simply and easily sync without fiddling with conf files / addnode searching ... simplifying the backend and infrastructure - its what we do at cwi ...

when our website is completed - we will have a LOT more for those coins that we support available ...

if you like to have this done - just pm me and we will get that started when the code is available to compile ...

our support of helium ( hlm ) will begin on that note ...

#crysx

Looking forward to working with CWI.

It's been a while since I've visited Australia 

australia is an awesome place to visit and live ...

tho dont setup mining here unless you can have something else in place to offset one of the most expensive electricity prices in the world ( and yes - we have ) ...

when you do visit though - stay in touch - as a coffee is not far off ...

you know how to find me mate ... and we can discuss when you are ready ...

#crysx

[coins101]

..when you do visit though - stay in touch - as a coffee is not far off ...
.

Coffee?

Are you the only Aussie bloke who doesn't drink beer?

Thanks for the offer, coffee would be good, I guess