[ANN][SEM] Semux - Official Thread

[c0mrade4chan]

Who is aware of when they add to the stock exchange?
And where is the startup road map?

[borderline]

the last day, but what's on for how long a break? 5-6 months? That with a reward it will be cut to 2 sem or not yet clear?

last day first the final release... it's clear.. rc test only fee not reward for block

[Mavis]

the last day, but what's on for how long a break? 5-6 months? That with a reward it will be cut to 2 sem or not yet clear?

last day first the final release... it's clear.. rc test only fee not reward for block

too sad ,i just burning 1000 sem for mining block last day ,now i only forge 30 block .

[Matilda]

the last day, but what's on for how long a break? 5-6 months? That with a reward it will be cut to 2 sem or not yet clear?

last day first the final release... it's clear.. rc test only fee not reward for block

i have a question ,while rc test ,because there is not reward for block so how should we earn Semux coin and any campaign?

[TheCryptoPope]

Any one selling SEM?

[jamesJhonHero]

it's cool.so many posts now.i want to buy 10K sem at 1000 stats.
if you want to sell, please pm me.waiting for your message.

[lda1000]

the last day, but what's on for how long a break? 5-6 months? That with a reward it will be cut to 2 sem or not yet clear?

last day first the final release... it's clear.. rc test only fee not reward for block

too sad ,i just burning 1000 sem for mining block last day ,now i only forge 30 block .

The delegate creation fee will be refunded when we (soon) go to the main net with RC1.

[Matilda]

it's cool.so many posts now.i want to buy 10K sem at 1000 stats.
if you want to sell, please pm me.waiting for your message.

you can go to OTC thread buy SEM ,but i think 1000 is so low price ,no one will sell you .

[CosaNostra]

Thanks.

Q1: Will the main chain start from height 1?

Q2: What do you mean transferring of balance to the RC1? Will the dev be sending from his account to the addresses from the snapshot?

Q3: What about block rewards?
       i.e: 0-499k 0 SEM,  500k-N 5 SEM, etc...

1. RC1 will start at block zero.

2. All balance from beta block #86400 will be transferred to RC1 network. This will come from dev account. See Ann page 1 for dev fund allocation.

3. RC1 block#0 to #500,000 -> 0 block rewards, only tx fees

RC1 block#500,001 onwards -> 2 sems for block rewards

Do I read this right? We gonna have 0 block rewards for almost half a year? 
Also it would be needed to burn another 1000 SEM to become a validator again?

[xibeijan]

Thanks.

Q1: Will the main chain start from height 1?

Q2: What do you mean transferring of balance to the RC1? Will the dev be sending from his account to the addresses from the snapshot?

Q3: What about block rewards?
       i.e: 0-499k 0 SEM,  500k-N 5 SEM, etc...

1. RC1 will start at block zero.

2. All balance from beta block #86400 will be transferred to RC1 network. This will come from dev account. See Ann page 1 for dev fund allocation.

3. RC1 block#0 to #500,000 -> 0 block rewards, only tx fees

RC1 block#500,001 onwards -> 2 sems for block rewards

Do I read this right? We gonna have 0 block rewards for almost half a year?  
Also it would be needed to burn another 1000 SEM to become a validator again?

Yes that's 1/2 a year.

Having no block reward for 1/2 a year seems very odd.  There really won't be any incentive to run the wallet and mine.  Transaction fees won't be enough, just look at what a disaster NXT was (despite having awesome developers and software).

What is the reasoning behind the no block reward decision?

When and how is the next round of distribution happening?

[lda1000]

Basically there will be no block rewards while the dev keeps 10M SEM ..... 

[semux]

Yes that's 1/2 a year.

Having no block reward for 1/2 a year seems very odd.  There really won't be any incentive to run the wallet and mine.  Transaction fees won't be enough, just look at what a disaster NXT was (despite having awesome developers and software).

What is the reasoning behind the no block reward decision?

When and how is the next round of distribution happening?

Basically there will be no block rewards while the dev keeps 10M SEM .....  

As described on the OP, the first 500,000 blocks is used for community distribution and RC test. The founder only owns 2.5M in the 1st year and the community own 10M.

Many validators have already earned 10k-100K from the alpha and beta test block rewards. It would be more fair for everyone to start minting when the community distribution is complete.

The next round of distribution is BTC airdrop; details will be announced when the RC net gets stable.

[liotmaan]

Thanks.

Q1: Will the main chain start from height 1?

Q2: What do you mean transferring of balance to the RC1? Will the dev be sending from his account to the addresses from the snapshot?

Q3: What about block rewards?
       i.e: 0-499k 0 SEM,  500k-N 5 SEM, etc...

1. RC1 will start at block zero.

2. All balance from beta block #86400 will be transferred to RC1 network. This will come from dev account. See Ann page 1 for dev fund allocation.

3. RC1 block#0 to #500,000 -> 0 block rewards, only tx fees

RC1 block#500,001 onwards -> 2 sems for block rewards

Do I read this right? We gonna have 0 block rewards for almost half a year?  
Also it would be needed to burn another 1000 SEM to become a validator again?

Yes that's 1/2 a year.

Having no block reward for 1/2 a year seems very odd.  There really won't be any incentive to run the wallet and mine.  Transaction fees won't be enough, just look at what a disaster NXT was (despite having awesome developers and software).

What is the reasoning behind the no block reward decision?

When and how is the next round of distribution happening?

I'm still running this and I'd imagine a lot of others are going to as well.

[CosaNostra]

Yes that's 1/2 a year.

Having no block reward for 1/2 a year seems very odd.  There really won't be any incentive to run the wallet and mine.  Transaction fees won't be enough, just look at what a disaster NXT was (despite having awesome developers and software).

What is the reasoning behind the no block reward decision?

When and how is the next round of distribution happening?

Basically there will be no block rewards while the dev keeps 10M SEM .....  

As described on the OP, the first 500,000 blocks is used for community distribution and RC test. The founder only owns 2.5M in the 1st year and the community own 10M.

Many validators have already earned 10k-100K from the alpha and beta test block rewards. It would be more fair for everyone to start minting when the community distribution is complete.

The next round of distribution is BTC airdrop; details will be announced when the RC net gets stable.

I understand your reasoning about fair distribution and such, but 6 months of empty blocks? This is like ages in crypto!
People had two month already to participate in the project. To become a validator one has to have a dedicated 24/7 server, running which just for the sake of a fair distribution doesn't make much sense... 700 bct accounts were getting much more for free than validators that were securing the network all that time.
Now again some random people will be getting tons of SEM for free, while others (delegates) will be forging blocks for them? 6 months of empty blocks and then 20k SEM per year at most for one validator sounds too wrong for me, sorry...

[xibeijan]

Yes that's 1/2 a year.

Having no block reward for 1/2 a year seems very odd.  There really won't be any incentive to run the wallet and mine.  Transaction fees won't be enough, just look at what a disaster NXT was (despite having awesome developers and software).

What is the reasoning behind the no block reward decision?

When and how is the next round of distribution happening?

Basically there will be no block rewards while the dev keeps 10M SEM .....  

As described on the OP, the first 500,000 blocks is used for community distribution and RC test. The founder only owns 2.5M in the 1st year and the community own 10M.

Many validators have already earned 10k-100K from the alpha and beta test block rewards. It would be more fair for everyone to start minting when the community distribution is complete.

The next round of distribution is BTC airdrop; details will be announced when the RC net gets stable.

I understand your reasoning about fair distribution and such, but 6 months of empty blocks? This is like ages in crypto!
People had two month already to participate in the project. To become a validator one has to have a dedicated 24/7 server, running which just for the sake of a fair distribution doesn't make much sense... 700 bct accounts were getting much more for free than validators that were securing the network all that time.
Now again some random people will be getting tons of SEM for free, while others (delegates) will be forging blocks for them? 6 months of empty blocks and then 20k SEM per year at most for one validator sounds too wrong for me, sorry...

Actually I think this is a good idea.  They are going to do the community distribution during the 500,000 blocks (1/2 year).  So instead of block rewards to existing holders they will bring in waves of new people.  Clever I think.

What is the community distribution and how will it work?

What is the BTC airdrop?

Where to read about theze?

[semux]

Yes that's 1/2 a year.

Having no block reward for 1/2 a year seems very odd.  There really won't be any incentive to run the wallet and mine.  Transaction fees won't be enough, just look at what a disaster NXT was (despite having awesome developers and software).

What is the reasoning behind the no block reward decision?

When and how is the next round of distribution happening?

Basically there will be no block rewards while the dev keeps 10M SEM .....  

As described on the OP, the first 500,000 blocks is used for community distribution and RC test. The founder only owns 2.5M in the 1st year and the community own 10M.

Many validators have already earned 10k-100K from the alpha and beta test block rewards. It would be more fair for everyone to start minting when the community distribution is complete.

The next round of distribution is BTC airdrop; details will be announced when the RC net gets stable.

I understand your reasoning about fair distribution and such, but 6 months of empty blocks? This is like ages in crypto!
People had two month already to participate in the project. To become a validator one has to have a dedicated 24/7 server, running which just for the sake of a fair distribution doesn't make much sense... 700 bct accounts were getting much more for free than validators that were securing the network all that time.
Now again some random people will be getting tons of SEM for free, while others (delegates) will be forging blocks for them? 6 months of empty blocks and then 20k SEM per year at most for one validator sounds too wrong for me, sorry...

This is a several year project. We value long term vision rather than short term profits. 20k is more than you had imagined. I believe many of us will continue contributing to the network regardless of the initial zero block rewards.

We've already made a good first step, ~3 million of coins has been distributed to ~700 ppl, but this is not enough. We have to distribute semux to more people, at whatever cost.

[semux]

Yes that's 1/2 a year.

Having no block reward for 1/2 a year seems very odd.  There really won't be any incentive to run the wallet and mine.  Transaction fees won't be enough, just look at what a disaster NXT was (despite having awesome developers and software).

What is the reasoning behind the no block reward decision?

When and how is the next round of distribution happening?

Basically there will be no block rewards while the dev keeps 10M SEM .....  

As described on the OP, the first 500,000 blocks is used for community distribution and RC test. The founder only owns 2.5M in the 1st year and the community own 10M.

Many validators have already earned 10k-100K from the alpha and beta test block rewards. It would be more fair for everyone to start minting when the community distribution is complete.

The next round of distribution is BTC airdrop; details will be announced when the RC net gets stable.

I understand your reasoning about fair distribution and such, but 6 months of empty blocks? This is like ages in crypto!
People had two month already to participate in the project. To become a validator one has to have a dedicated 24/7 server, running which just for the sake of a fair distribution doesn't make much sense... 700 bct accounts were getting much more for free than validators that were securing the network all that time.
Now again some random people will be getting tons of SEM for free, while others (delegates) will be forging blocks for them? 6 months of empty blocks and then 20k SEM per year at most for one validator sounds too wrong for me, sorry...

Actually I think this is a good idea.  They are going to do the community distribution during the 500,000 blocks (1/2 year).  So instead of block rewards to existing holders they will bring in waves of new people.  Clever I think.

What is the community distribution and how will it work?

What is the BTC airdrop?

Where to read about theze?

Details will be announced when the rc1 gets released

[Eddyc]

Unfortunately I could not participate in the airdrop of this project! Is it true that soon there will be another distribution? Is it in what way? What is RC?

[CosaNostra]

Yes that's 1/2 a year.

Having no block reward for 1/2 a year seems very odd.  There really won't be any incentive to run the wallet and mine.  Transaction fees won't be enough, just look at what a disaster NXT was (despite having awesome developers and software).

What is the reasoning behind the no block reward decision?

When and how is the next round of distribution happening?

Basically there will be no block rewards while the dev keeps 10M SEM .....  

As described on the OP, the first 500,000 blocks is used for community distribution and RC test. The founder only owns 2.5M in the 1st year and the community own 10M.

Many validators have already earned 10k-100K from the alpha and beta test block rewards. It would be more fair for everyone to start minting when the community distribution is complete.

The next round of distribution is BTC airdrop; details will be announced when the RC net gets stable.

I understand your reasoning about fair distribution and such, but 6 months of empty blocks? This is like ages in crypto!
People had two month already to participate in the project. To become a validator one has to have a dedicated 24/7 server, running which just for the sake of a fair distribution doesn't make much sense... 700 bct accounts were getting much more for free than validators that were securing the network all that time.
Now again some random people will be getting tons of SEM for free, while others (delegates) will be forging blocks for them? 6 months of empty blocks and then 20k SEM per year at most for one validator sounds too wrong for me, sorry...

This is a several year project. We value long term vision rather than short term profits. 20k is more than you had imagined. I believe many of us will continue contributing to the network regardless of the initial zero block rewards.

We've already made a good first step, ~3 million of coins has been distributed to ~700 ppl, but this is not enough. We have to distribute semux to more people, at whatever cost.

Several years? I thought it's a forever project  
I love this project and will be running my delegate for sure. I'm just saying that delegates securing the network deserve not less than folks who created tons of bct accounts to get free coins... Why zero block rewards???

[HmmMAA]

I will continue to support the network as a delegate , i have paid for a server to do this regardless of the reward . I really like this project and i think it will become great in the near future . As for the zero blocks that mentioned above , there is the fees reward , small but not zero . Waiting for info about the next round of airdrop so i can update my local thread , you can count in my support .