[ANN] [RNS] Renos - A community Based Cryptocurrency

[DynamQ]

-

great news! Many were waiting for the white paper, I hope that the course is good for the impact!
Will there be a Signature campaign? This can attract more attention to the coin.

[1714211480]

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[Daffadile]

Still waiting for airdrop and bounty pay for twitter...

[seven.71]

Twitter Bounties

I have sent out all the twitter bounties finally. if you think I've missed you out or are yet to take part, the email the relevant details to renosbounty@gmail.com

I do not get paid,, heLOO dev
repeatedly I sent an email to her that there is no clarity 

[Menaxerius]

Twitter Bounties

I have sent out all the twitter bounties finally. if you think I've missed you out or are yet to take part, the email the relevant details to renosbounty@gmail.com

I do not get paid,, heLOO dev
repeatedly I sent an email to her that there is no clarity 

same here, never got paid

[scambust]

Smart Contract Orientated Chain
One of the main developments we will be pursuing during this time is a move to a Smart Contract orientated chain. Most likely this will be based off of the Ethereum codebase however we will be exploring other options. It gives us the opportunity to build applications and services on the blockchain rather than building external applications that are designed to accept Renos. This is where we estimate that most of our development resources will go as once it has been created it will provide a number of possibilities for us to generate an income which will make development self sustainable.

Why ETH? Crypto is  already saturated with so many ETH-based tokens and coins.


Dev, I suggest looking into tangle tech. This is the new innovation for 2018.

https://bitcointalk.org/index.php?topic=1216479.0 (Source of text below)

or

https://bitcointalk.org/index.php?topic=1381323.0


A Tangle is a Directed Acyclic Graph (DAG).



Tangle vs Blockchain

Tangle/Lattice blockchain solves the following problems of its blockchain cousin:

Centralization of control
As history shows, small miners form big groups to reduce variation of the reward. This leads to concentration of power (computational and political) in hands of few pool operators and gives them ability to apply wide spectrum of policies (filtering, postponing) on certain transactions. Although there are no known cases where pool operators abused their power, there have been several instances where the opportunity were present. This possibility in a monetary system powering a multibillion (in USD) industry is completely unacceptable.

“Obsolete” cryptography
Although large scale quantum computers do not exist yet, future oriented companies have already begun initiating the steps towards quantum-resistant cryptography. From a security point of view it makes perfect sense to assume that hardware capable of cracking classical cryptoalgorithms may appear in the very near future, so preparation is the only defense.

Inability to conduct micropayments
Transaction fees are used to cover miner expenses and mitigate spam-attacks. They also set a threshold on the minimum amount of a payment below which money transfers become inexpedient.

Partition intolerance
Blockchain-based currencies are unable to survive long-sustained partitioning of the network because this may lead to reversal of a large number of transactions. It is also impossible to initiate an intentional partitioning in cases when it is required.

Discrimination of participants
Existing cryptocurrencies are heterogeneous systems with clear separation of roles (transaction issuers, transaction approvers). Such systems create unavoidable discrimination of some of their elements which in turn creates conflicts and makes all elements spend resources on conflict resolution.

Scalability limits
Some cryptocurrencies have hard limits on the maximum transaction rate and this limits cannot be removed in a decentralized manner. A magic number of a limit set before the launch cannot satisfy requirements of a system unless it is set by a person with extraordinary prediction skill. A too low value may hinder growth of the userbase, a too high value may open system to different kinds of attacks.

High requirements for hardware
Bitcoin-derived cryptocurrencies use its original script-based approach which allows implementation of a wide range of use-cases. Other currencies use an approach similar to one used by banks but add extra features. They both substantially raise requirements for hardware because of complex transaction processing logic.

Unlimited data growth
Storing of all state transitions leads to fast growth of data while does not increase stored balance information significantly. This inefficiency cannot be removed even with data pruning technique and high popularity of the currency may lead to its collapse.

[sri.bima]

What's up Renoscoin? When price RNS will be going up again?

[RenosCoin]

We are proud to announce a new partnership between the Renos and Drac development teams.

Renos will be offering 1,000,000 DRAC via their telegram crowdfunding tool with the following agreed terms:

- For every 4 RNS sent, 1 DRAC will be given.

- Any RNS raised by the crowdfund will enter escrow in which the DRAC team can request withdrawals for development. Withdrawal requests have to be publicly announced 24 hours prior to the withdrawal either by DRAC team or Escrow.  This is to inform the community of development actions and prevent potential misuse as the escrow reserves the right to postpone the withdrawal if there is a strong community backlash against it.

- Renos team will receive 250,000 DRAC to enter the same escrow rules as above. In return they will provide support setting up an ICO for the remaining supply at a later date, Promotion, Announcement page & website.

- If the ICO for the remaining supply occurs in the month (30 days) after the starting date of the Renos crowdfunding campaign, the price must be above the 1:4 swap ratio to ensure that the Renos coins sell out first.

- Both teams are encouraged to arrange development expenses in either the Renos or Drac received rather than liquidating for bitcoin or other currencies on the market although it is acknowledged that sometimes this wont be possible. It will be specified in the withdrawal request whether the expense will remain in Renos or Drac or be sold on the market.

Official launch date and instructions on how to take part will follow shortly.

DRAC Bitcointalk page: https://bitcointalk.org/index.php?topic=1806593.0
Renos Bitcointalk page: https://bitcointalk.org/index.php?topic=1809933.0

[Bl4ckw00d]

Smart Contract Orientated Chain
One of the main developments we will be pursuing during this time is a move to a Smart Contract orientated chain. Most likely this will be based off of the Ethereum codebase however we will be exploring other options. It gives us the opportunity to build applications and services on the blockchain rather than building external applications that are designed to accept Renos. This is where we estimate that most of our development resources will go as once it has been created it will provide a number of possibilities for us to generate an income which will make development self sustainable.

Why ETH? Crypto is  already saturated with so many ETH-based tokens and coins.


Dev, I suggest looking into tangle tech. This is the new innovation for 2018.

https://bitcointalk.org/index.php?topic=1216479.0

or

https://bitcointalk.org/index.php?topic=1381323.0


A Tangle is a Directed Acyclic Graph (DAG).



Tangle vs Blockchain

Tangle/Lattice blockchain solves the following problems of its blockchain cousin:

Centralization of control
As history shows, small miners form big groups to reduce variation of the reward. This leads to concentration of power (computational and political) in hands of few pool operators and gives them ability to apply wide spectrum of policies (filtering, postponing) on certain transactions. Although there are no known cases where pool operators abused their power, there have been several instances where the opportunity were present. This possibility in a monetary system powering a multibillion (in USD) industry is completely unacceptable.

“Obsolete” cryptography
Although large scale quantum computers do not exist yet, future oriented companies have already begun initiating the steps towards quantum-resistant cryptography. From a security point of view it makes perfect sense to assume that hardware capable of cracking classical cryptoalgorithms may appear in the very near future, so preparation is the only defense.

Inability to conduct micropayments
Transaction fees are used to cover miner expenses and mitigate spam-attacks. They also set a threshold on the minimum amount of a payment below which money transfers become inexpedient.

Partition intolerance
Blockchain-based currencies are unable to survive long-sustained partitioning of the network because this may lead to reversal of a large number of transactions. It is also impossible to initiate an intentional partitioning in cases when it is required.

Discrimination of participants
Existing cryptocurrencies are heterogeneous systems with clear separation of roles (transaction issuers, transaction approvers). Such systems create unavoidable discrimination of some of their elements which in turn creates conflicts and makes all elements spend resources on conflict resolution.

Scalability limits
Some cryptocurrencies have hard limits on the maximum transaction rate and this limits cannot be removed in a decentralized manner. A magic number of a limit set before the launch cannot satisfy requirements of a system unless it is set by a person with extraordinary prediction skill. A too low value may hinder growth of the userbase, a too high value may open system to different kinds of attacks.

High requirements for hardware
Bitcoin-derived cryptocurrencies use its original script-based approach which allows implementation of a wide range of use-cases. Other currencies use an approach similar to one used by banks but add extra features. They both substantially raise requirements for hardware because of complex transaction processing logic.

Unlimited data growth
Storing of all state transitions leads to fast growth of data while does not increase stored balance information significantly. This inefficiency cannot be removed even with data pruning technique and high popularity of the currency may lead to its collapse.

Interesting..  I will read up on this later.  Thanks for the input scambust. 

[RenosCoin]

Smart Contract Orientated Chain
One of the main developments we will be pursuing during this time is a move to a Smart Contract orientated chain. Most likely this will be based off of the Ethereum codebase however we will be exploring other options. It gives us the opportunity to build applications and services on the blockchain rather than building external applications that are designed to accept Renos. This is where we estimate that most of our development resources will go as once it has been created it will provide a number of possibilities for us to generate an income which will make development self sustainable.

Why ETH? Crypto is  already saturated with so many ETH-based tokens and coins.


Dev, I suggest looking into tangle tech. This is the new innovation for 2018.

https://bitcointalk.org/index.php?topic=1216479.0

or

https://bitcointalk.org/index.php?topic=1381323.0


A Tangle is a Directed Acyclic Graph (DAG).



Tangle vs Blockchain

Tangle/Lattice blockchain solves the following problems of its blockchain cousin:

Centralization of control
As history shows, small miners form big groups to reduce variation of the reward. This leads to concentration of power (computational and political) in hands of few pool operators and gives them ability to apply wide spectrum of policies (filtering, postponing) on certain transactions. Although there are no known cases where pool operators abused their power, there have been several instances where the opportunity were present. This possibility in a monetary system powering a multibillion (in USD) industry is completely unacceptable.

“Obsolete” cryptography
Although large scale quantum computers do not exist yet, future oriented companies have already begun initiating the steps towards quantum-resistant cryptography. From a security point of view it makes perfect sense to assume that hardware capable of cracking classical cryptoalgorithms may appear in the very near future, so preparation is the only defense.

Inability to conduct micropayments
Transaction fees are used to cover miner expenses and mitigate spam-attacks. They also set a threshold on the minimum amount of a payment below which money transfers become inexpedient.

Partition intolerance
Blockchain-based currencies are unable to survive long-sustained partitioning of the network because this may lead to reversal of a large number of transactions. It is also impossible to initiate an intentional partitioning in cases when it is required.

Discrimination of participants
Existing cryptocurrencies are heterogeneous systems with clear separation of roles (transaction issuers, transaction approvers). Such systems create unavoidable discrimination of some of their elements which in turn creates conflicts and makes all elements spend resources on conflict resolution.

Scalability limits
Some cryptocurrencies have hard limits on the maximum transaction rate and this limits cannot be removed in a decentralized manner. A magic number of a limit set before the launch cannot satisfy requirements of a system unless it is set by a person with extraordinary prediction skill. A too low value may hinder growth of the userbase, a too high value may open system to different kinds of attacks.

High requirements for hardware
Bitcoin-derived cryptocurrencies use its original script-based approach which allows implementation of a wide range of use-cases. Other currencies use an approach similar to one used by banks but add extra features. They both substantially raise requirements for hardware because of complex transaction processing logic.

Unlimited data growth
Storing of all state transitions leads to fast growth of data while does not increase stored balance information significantly. This inefficiency cannot be removed even with data pruning technique and high popularity of the currency may lead to its collapse.

Interesting..  I will read up on this later.  Thanks for the input scambust. 

Yes i also was meaning to say i will read into this, thanks for this and also to those who have suggested ideas via pm and on the roadmap comments document

[Daffadile]

Twitter Bounties

I have sent out all the twitter bounties finally. if you think I've missed you out or are yet to take part, the email the relevant details to renosbounty@gmail.com

I do not get paid,, heLOO dev
repeatedly I sent an email to her that there is no clarity 

Twitter Bounties

I have sent out all the twitter bounties finally. if you think I've missed you out or are yet to take part, the email the relevant details to renosbounty@gmail.com

I do not get paid,, heLOO dev
repeatedly I sent an email to her that there is no clarity 

I have asked more then twice about pay and get the whole "he is staff he is trusted blah blah blah" still I get ignored and not paid. Not good. Peopletell me he won't ruin his rep over a small payment but untill I get paid I don't believe this. He just has replied under our posts and didn't even answer us. Why support this coin ?

[seven.71]

Twitter Bounties

I have sent out all the twitter bounties finally. if you think I've missed you out or are yet to take part, the email the relevant details to renosbounty@gmail.com

I do not get paid,, heLOO dev
repeatedly I sent an email to her that there is no clarity 

Twitter Bounties

I have sent out all the twitter bounties finally. if you think I've missed you out or are yet to take part, the email the relevant details to renosbounty@gmail.com

I do not get paid,, heLOO dev
repeatedly I sent an email to her that there is no clarity 

I have asked more then twice about pay and get the whole "he is staff he is trusted blah blah blah" still I get ignored and not paid. Not good. Peopletell me he won't ruin his rep over a small payment but untill I get paid I don't believe this. He just has replied under our posts and didn't even answer us. Why support this coin ?

True what you say
do not believe in this project
Developers do not pay for what we do and I will make this coin is a coin die
see now he collaborated with developers XDRAC because this coin is dead
Don't buy this Coin all

[jovan85]

There are 33,333,333 coins created.

We have successfully given away 30,000,000 RNS to community members in 3 days. 3,000,000 has been allocated to our development and 333,333 to promotion campaigns.
See the initial airdrop thread here...

I send PM

[jooj]

We are proud to announce a new partnership between the Renos and Drac development teams.

Renos will be offering 1,000,000 DRAC via their telegram crowdfunding tool with the following agreed terms:

- For every 4 RNS sent, 1 DRAC will be given.

- Any RNS raised by the crowdfund will enter escrow in which the DRAC team can request withdrawals for development. Withdrawal requests have to be publicly announced 24 hours prior to the withdrawal either by DRAC team or Escrow.  This is to inform the community of development actions and prevent potential misuse as the escrow reserves the right to postpone the withdrawal if there is a strong community backlash against it.

- Renos team will receive 250,000 DRAC to enter the same escrow rules as above. In return they will provide support setting up an ICO for the remaining supply at a later date, Promotion, Announcement page & website.

- If the ICO for the remaining supply occurs in the month (30 days) after the starting date of the Renos crowdfunding campaign, the price must be above the 1:4 swap ratio to ensure that the Renos coins sell out first.

- Both teams are encouraged to arrange development expenses in either the Renos or Drac received rather than liquidating for bitcoin or other currencies on the market although it is acknowledged that sometimes this wont be possible. It will be specified in the withdrawal request whether the expense will remain in Renos or Drac or be sold on the market.

Official launch date and instructions on how to take part will follow shortly.

DRAC Bitcointalk page: https://bitcointalk.org/index.php?topic=1806593.0
Renos Bitcointalk page: https://bitcointalk.org/index.php?topic=1809933.0

I don't get it! ICO for what exactly? Renos already lunched.

[freemind1]

We are proud to announce a new partnership between the Renos and Drac development teams.

Renos will be offering 1,000,000 DRAC via their telegram crowdfunding tool with the following agreed terms:

- For every 4 RNS sent, 1 DRAC will be given.

- Any RNS raised by the crowdfund will enter escrow in which the DRAC team can request withdrawals for development. Withdrawal requests have to be publicly announced 24 hours prior to the withdrawal either by DRAC team or Escrow.  This is to inform the community of development actions and prevent potential misuse as the escrow reserves the right to postpone the withdrawal if there is a strong community backlash against it.

- Renos team will receive 250,000 DRAC to enter the same escrow rules as above. In return they will provide support setting up an ICO for the remaining supply at a later date, Promotion, Announcement page & website.

- If the ICO for the remaining supply occurs in the month (30 days) after the starting date of the Renos crowdfunding campaign, the price must be above the 1:4 swap ratio to ensure that the Renos coins sell out first.

- Both teams are encouraged to arrange development expenses in either the Renos or Drac received rather than liquidating for bitcoin or other currencies on the market although it is acknowledged that sometimes this wont be possible. It will be specified in the withdrawal request whether the expense will remain in Renos or Drac or be sold on the market.

Official launch date and instructions on how to take part will follow shortly.

DRAC Bitcointalk page: https://bitcointalk.org/index.php?topic=1806593.0
Renos Bitcointalk page: https://bitcointalk.org/index.php?topic=1809933.0

I don't get it! ICO for what exactly? Renos already lunched.

ICO for XDRAC, not for RNS.

[jooj]

We are proud to announce a new partnership between the Renos and Drac development teams.

Renos will be offering 1,000,000 DRAC via their telegram crowdfunding tool with the following agreed terms:

- For every 4 RNS sent, 1 DRAC will be given.

- Any RNS raised by the crowdfund will enter escrow in which the DRAC team can request withdrawals for development. Withdrawal requests have to be publicly announced 24 hours prior to the withdrawal either by DRAC team or Escrow.  This is to inform the community of development actions and prevent potential misuse as the escrow reserves the right to postpone the withdrawal if there is a strong community backlash against it.

- Renos team will receive 250,000 DRAC to enter the same escrow rules as above. In return they will provide support setting up an ICO for the remaining supply at a later date, Promotion, Announcement page & website.

- If the ICO for the remaining supply occurs in the month (30 days) after the starting date of the Renos crowdfunding campaign, the price must be above the 1:4 swap ratio to ensure that the Renos coins sell out first.

- Both teams are encouraged to arrange development expenses in either the Renos or Drac received rather than liquidating for bitcoin or other currencies on the market although it is acknowledged that sometimes this wont be possible. It will be specified in the withdrawal request whether the expense will remain in Renos or Drac or be sold on the market.

Official launch date and instructions on how to take part will follow shortly.

DRAC Bitcointalk page: https://bitcointalk.org/index.php?topic=1806593.0
Renos Bitcointalk page: https://bitcointalk.org/index.php?topic=1809933.0

I don't get it! ICO for what exactly? Renos already lunched.

ICO for XDRAC, not for RNS.

I know that the ICO for XDRAC. but what will bring this to RNS community ? what is XDRAC future!!

[nyteo]

We are proud to announce a new partnership between the Renos and Drac development teams.

Renos will be offering 1,000,000 DRAC via their telegram crowdfunding tool with the following agreed terms:

- For every 4 RNS sent, 1 DRAC will be given.

- Any RNS raised by the crowdfund will enter escrow in which the DRAC team can request withdrawals for development. Withdrawal requests have to be publicly announced 24 hours prior to the withdrawal either by DRAC team or Escrow.  This is to inform the community of development actions and prevent potential misuse as the escrow reserves the right to postpone the withdrawal if there is a strong community backlash against it.

- Renos team will receive 250,000 DRAC to enter the same escrow rules as above. In return they will provide support setting up an ICO for the remaining supply at a later date, Promotion, Announcement page & website.

- If the ICO for the remaining supply occurs in the month (30 days) after the starting date of the Renos crowdfunding campaign, the price must be above the 1:4 swap ratio to ensure that the Renos coins sell out first.

- Both teams are encouraged to arrange development expenses in either the Renos or Drac received rather than liquidating for bitcoin or other currencies on the market although it is acknowledged that sometimes this wont be possible. It will be specified in the withdrawal request whether the expense will remain in Renos or Drac or be sold on the market.

Official launch date and instructions on how to take part will follow shortly.

DRAC Bitcointalk page: https://bitcointalk.org/index.php?topic=1806593.0
Renos Bitcointalk page: https://bitcointalk.org/index.php?topic=1809933.0

1 DRAC 16k satoshi price ICO and renos only 61 satoshi  what do you mean - For every 4 RNS sent, 1 DRAC will be given.?

[Bl4ckw00d]

Daffodil, I am unsure about the airdrop, I am not the dev and did not handle the PMs. The airdrop has been over for sometime now.  If you are owed for the twitter bounty however please PM me and I will look after you. 

[kaduwall2]

We are proud to announce a new partnership between the Renos and Drac development teams.

Renos will be offering 1,000,000 DRAC via their telegram crowdfunding tool with the following agreed terms:

- For every 4 RNS sent, 1 DRAC will be given.

- Any RNS raised by the crowdfund will enter escrow in which the DRAC team can request withdrawals for development. Withdrawal requests have to be publicly announced 24 hours prior to the withdrawal either by DRAC team or Escrow.  This is to inform the community of development actions and prevent potential misuse as the escrow reserves the right to postpone the withdrawal if there is a strong community backlash against it.

- Renos team will receive 250,000 DRAC to enter the same escrow rules as above. In return they will provide support setting up an ICO for the remaining supply at a later date, Promotion, Announcement page & website.

- If the ICO for the remaining supply occurs in the month (30 days) after the starting date of the Renos crowdfunding campaign, the price must be above the 1:4 swap ratio to ensure that the Renos coins sell out first.

- Both teams are encouraged to arrange development expenses in either the Renos or Drac received rather than liquidating for bitcoin or other currencies on the market although it is acknowledged that sometimes this wont be possible. It will be specified in the withdrawal request whether the expense will remain in Renos or Drac or be sold on the market.

Official launch date and instructions on how to take part will follow shortly.

DRAC Bitcointalk page: https://bitcointalk.org/index.php?topic=1806593.0
Renos Bitcointalk page: https://bitcointalk.org/index.php?topic=1809933.0

1 DRAC 16k satoshi price ICO and renos only 61 satoshi  what do you mean - For every 4 RNS sent, 1 DRAC will be given.?

I don't quite understand this. Is it a first-come, first-served basis? Because 1,000,000 DRAC x 4 RNS = 4M RNS and we have over 30M RNS. Meaning a lot of people would be left out.

[RenosCoin]

Morning everyone,

Just a few updates for today and clarifying some thread comments:

Renosbot

Renosbot has been upgraded so is back to full functionality and should respond quicker than before, thanks Alaniz.

Comments

I don't quite understand this. Is it a first-come, first-served basis? Because 1,000,000 DRAC x 4 RNS = 4M RNS and we have over 30M RNS. Meaning a lot of people would be left out.

We have been allocated 1,000,000 DRAC to sell via our crowdfunding tool on telegram. For every 4 Renos sent this way you recieve 1 DRAC meaning its a 4:1 swap ratio. That means maximum that can be given is 4m RNS as you say but if it sells out quick then we could discuss with the DRAC team about allowing more to be sold this way.

1 DRAC 16k satoshi price ICO and renos only 61 satoshi   what do you mean - For every 4 RNS sent, 1 DRAC will be given.?

I know prior to our discussions they were unsure about ICO offering price however they expect DRAC price to be about 1000 sats. Our deal is to provide them with some starting funds so they can begin developing things before the main ICO, create a long term partnership and to promote our crowdfunding tools.

"what do you mean - For every 4 RNS sent, 1 DRAC will be given.?"
it basically means you can buy 1 DRAC for 4 RNS via our crowdfunding tool

I know that the ICO for XDRAC. but what will bring this to RNS community ? what is XDRAC future!!

The deal brings a lot of benefits to us and also to the DRAC team. We get to support a new coin which is something we want to do more of in the future, we get to use our crowdfunding tool for a good cause and we also get a small amount of the supply which we can use for more development. Our partnership means that if there are opportunities for both currencies to be included in a project that we are developing then we will explore them and hopefully implement it, meaning we can add value and use case to both currencies

I have sent out all the twitter bounties finally. if you think I've missed you out or are yet to take part, the email the relevant details to renosbounty@gmail.com

I do not get paid,, heLOO dev
repeatedly I sent an email to her that there is no clarity 

I have asked more then twice about pay and get the whole "he is staff he is trusted blah blah blah" still I get ignored and not paid. Not good. Peopletell me he won't ruin his rep over a small payment but untill I get paid I don't believe this. He just has replied under our posts and didn't even answer us. Why support this coin ?

Ironically, your quote holds the answer to what you should do

I have sent out all the twitter bounties finally. if you think I've missed you out or are yet to take part, then email the relevant details to renosbounty@gmail.com

We recieved a lot of requests so it is possible mistakes could have been made. Although I'd suggest you double check your transaction logs because some peoples twitter bounty rewards were low amounts so might not be an obvious change to your balance and be hid in amongst all the stake transactions.

great news! Many were waiting for the white paper, I hope that the course is good for the impact!
Will there be a Signature campaign? This can attract more attention to the coin.

There is a signature campaign (can be found in front page of ann) and the twitter bounty is still open with a maximum of 5 tweets per person.

[Adykingcity]

nice apdate dev, I will buy 5000 drac for 20000 renos, waiting exchange RNS/DRAC