[ANN] Elite [MANDATORY UPDATE] 1.337% APR | POS ONLY

[Babidi]

Nice thanks for the info 

[kellog9000]

Come on guys buy buy buy    


Nice of the RoadMap!

https://www.1337coin.net/roadmap

[xenonflux]

F@H payout details for this week, https://www.reddit.com/r/1337Foundation/comments/7do5sk/fh_payout_update_1111201711172017/

[xenonflux]

19 hours left for 1337 final APR voting https://twitter.com/1337CoinUpdates/status/929404710745989124

[pwpwpw]

1.337% is just simply too low, people would not consider this as a PoS coin with such low returns. Also burning would help a lot but what would help the most is a better richlist, the nr.1 wallet should be locked for the future, funding or promotion, it doesn't look good for new buyers..

[AltScope]

1.337% is just simply too low, people would not consider this as a PoS coin with such low returns. Also burning would help a lot but what would help the most is a better richlist, the nr.1 wallet should be locked for the future, funding or promotion, it doesn't look good for new buyers..

with the low cost and large supply i think 1.337% is better both decreasing daily coin creation and encouraging holding larger amounts both of which should help with the price

[Tortoise75]

It's a bit of a problem. 1.337% sounds a bit low, the real APR would be higher because of compounding, and 13.37% sounds about good but generates a lot of new coins, too many quite probably. Maybe a compromise. Go for 1.337% but add a fixed block reward of 133.7 on top. With the current weight it should roughly double the rewards of an APR of 1.337%. With more weight/coins on the network the rewards would be less because your amount of coins would stake less blocks and only the APR half calculates the higher coin age into the rewards. Causes the lowered APR that less people or coins are staking the reward raises due to more blocks staked the fixed amount becomes dominant, plus some compounding effects on the APR part.

[kellog9000]

When will price rise? 

[xenonflux]

1337 Final APR - 1.337% (I will add this to the main post as soon as i get a chance)

[vella85]

1.337% is just simply too low, people would not consider this as a PoS coin with such low returns. Also burning would help a lot but what would help the most is a better richlist, the nr.1 wallet should be locked for the future, funding or promotion, it doesn't look good for new buyers..

with the low cost and large supply i think 1.337% is better both decreasing daily coin creation and encouraging holding larger amounts both of which should help with the price

I agree mate, I'm happy to see that most people voted for the 1.337% as we really needed to start lowering the daily coin creation and I think this will help. It has and currently is working well for ZEIT coin which has an even lower APR then 1337 coin. A lot of the big holders are holding and still supporting the coin and I can't see why the same can happen in 1337 coin. Maybe 1337 coin can have an elite group of people who hold 100M 1337 coins have a say in upcoming developments? ZEIT has something similar to this with their Knights where people need to hold 100M ZEIT.

[xenonflux]

hi.
i got 46mio coins. what s the best tutorial for staking?
and how much is the reward for that amount?

Please follow this tutorial video on how to stake https://www.youtube.com/watch?v=w1RLDQN-ENA

Current reward APR is 20.89% which will change to 1.337% early next year.

[JustMe22]

So people voted for 1.337 APR this in my opinion is good for the inflation but people will just loose interest on holding and staking the coin because ROI is very low, without POW or masternodes implementation is just not worth to invest in a such low POS coin. Indeed there are others POS coins with 1-2% APR out there, but they have additionally ROI such as term deposit, masternodes or any other feature like this to make the coin interesting. My 2 cents!

[kellog9000]

8 million 1337 coin Stake = 7.000 - 10.000 coin /day     Good or bad

[crypt0kid]

I've been trying to download and install a new wallet for quite some time. It keeps getting stuck around the 8400 block. It's showing 9 connections, but after 2 days of being stuck I closed the file. When will this wallet get working again? Should have just left it the way it was before. There was a lot of inflation, but at least things worked. Now it's all broken and no one seems to know how to get it working again.

[riskthebiscuit]

So people voted for 1.337 APR this in my opinion is good for the inflation but people will just loose interest on holding and staking the coin because ROI is very low, without POW or masternodes implementation is just not worth to invest in a such low POS coin. Indeed there are others POS coins with 1-2% APR out there, but they have additionally ROI such as term deposit, masternodes or any other feature like this to make the coin interesting. My 2 cents!

Yeah maybe we could find an in between ground for the final APR. 13% seems too high long term and 1.3% does seem a little small long term. I did vote for the 1.3% APR myself but now am rethinking

that a mixed solution would work best. Not sure if it has to begin with 1% or not maybe we could do final APR of 5%? That seems like a nice compromise but again thinking out loud here not sure.

[xenonflux]

I've been trying to download and install a new wallet for quite some time. It keeps getting stuck around the 8400 block. It's showing 9 connections, but after 2 days of being stuck I closed the file. When will this wallet get working again? Should have just left it the way it was before. There was a lot of inflation, but at least things worked. Now it's all broken and no one seems to know how to get it working again.

Hi, please download the latest snapshot from github https://github.com/xenonflux/1337/releases/tag/v1.9.0.0 to get your wallet synced.

[xenonflux]

So people voted for 1.337 APR this in my opinion is good for the inflation but people will just loose interest on holding and staking the coin because ROI is very low, without POW or masternodes implementation is just not worth to invest in a such low POS coin. Indeed there are others POS coins with 1-2% APR out there, but they have additionally ROI such as term deposit, masternodes or any other feature like this to make the coin interesting. My 2 cents!

Hi, i see your point and yes 1.337% is low but the main goal is to control the supply overflow which is already at 26B. Also, the idea is to encourage people to hold and improve coin's value. I am also looking into master node implementation which could be a while but i think once 1.337% APR goes into efffect, we ll get an idea of where we stand. I will keep you all posted. Thank you.

[xenonflux]

@Everyone, i am glad to let you all know that I have finished implementing DNS seeds in to 1337 wallet. This should significantly improve 1337 connections without the need to manually add nodes to 1337.conf file. To better support users all over the world, these DNS seeds are running on US, Europe and Asia servers. If you are experiencing connection issues, please update your wallet to the latest version v1.9.0.1 from Github https://github.com/xenonflux/1337/releases/tag/v1.9.0.1
This is not a mandatory update but highly recommended. Thank you.

[vella85]

Everyone, i am glad to let you all know that I have finished implementing DNS seeds in to 1337 wallet. This should significantly improve 1337 connections without the need to manually add nodes to 1337.conf file. To better support users all over the world, these DNS seed are running on US, Europe and Asia servers. If you are experiencing connection issues, please update your wallet to the latest version v1.9.0.1 from Github https://github.com/xenonflux/1337/releases/tag/v1.9.0.1
This is not a mandatory update but highly recommended. Thank you.

Thank you dev for this update, right now I'm not experiencing any issues or have any issues with active connections so I'll stick with the current wallet for now. I like the sounds of you being interested in implementing masternodes down the road which I think will help the coin even more as people will be holding their coins to earn the masternodes rewards. Maybe the masternode rewards could be 1337 coins per day or 133.7 coins per day, this might give people incentive to hold their coins for masternodes?

[Digging]

Updated to latest wallet even though I was having no connection problems, works well, as soon as I remembered to delete my peers.dat  and conf file   was sat with zero connections till I deleted those and relaunched wallet.