[ANN][ROI] ROI Coin | CPU Only Solo Mining | 15% POS | 18.07% Term Deposit

[CryptoMarv]

The new fork will happen at what time?

There is no fix date yet. But dev said it will happen in the next 1-2 weeks.

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[RinceWind84]

I am under the impression that the fork is roughly planned to happen at block 20000.
And that long term deposits that has been set for later blocks than 20000 will be corrected by the fork, so that the increased rates will only have an effect up until the block of the fork.

[HodlOrava]

I am under the impression that the fork is roughly planned to happen at block 20000.
And that long term deposits that has been set for later blocks than 20000 will be corrected by the fork, so that the increased rates will only have an effect up until the block of the fork.

If I extrapolate to block 20 000 rate will be over 1900% (20x). 100% => 2x, 200% => 3x, 1900% => 20x. The earlier to made your deposits the lower the relative value will be.



If the fork will happet at block 20 000 ATM you should make deposits which will mature before block 20 00 so can deposit your coins second time before the fork.

[RinceWind84]

I am under the impression that the fork is roughly planned to happen at block 20000.
And that long term deposits that has been set for later blocks than 20000 will be corrected by the fork, so that the increased rates will only have an effect up until the block of the fork.

If I extrapolate to block 20 000 rate will be over 1900% (20x). 100% => 2x, 200% => 3x, 1900% => 20x. The earlier to made your deposits the lower the relative value will be.



If the fork will happet at block 20 000 ATM you should make deposits which will mature before block 20 00 so can deposit your coins second time before the fork.

I think you are misunderstanding what the fork is supposed to do.

If I am right, the main purpose of the fork is to correct this error where the long-term deposits become increasingly lucrative. And thereby correcting the estimated interest-rates.

This would mean that for whatever length of term you deposit before the fork. The period of your chosen term that happens after the fork, will only accrue the value that corresponds with the originally intended interest.

So whatever you have in you wallet right now, you should deposit with a maturation block of block 20000.

God I hope I am correct here...

 

[CryptoMarv]

I am under the impression that the fork is roughly planned to happen at block 20000.
And that long term deposits that has been set for later blocks than 20000 will be corrected by the fork, so that the increased rates will only have an effect up until the block of the fork.

If I extrapolate to block 20 000 rate will be over 1900% (20x). 100% => 2x, 200% => 3x, 1900% => 20x. The earlier to made your deposits the lower the relative value will be.

If the fork will happet at block 20 000 ATM you should make deposits which will mature before block 20 00 so can deposit your coins second time before the fork.

I think you are misunderstanding what the fork is supposed to do.

If I am right, the main purpose of the fork is to correct this error where the long-term deposits become increasingly lucrative. And thereby correcting the estimated interest-rates.

This would mean that for whatever length of term you deposit before the fork. The period of your chosen term that happens after the fork, will only accrue the value that corresponds with the originally intended interest.

So whatever you have in you wallet right now, you should deposit with a maturation block of block 20000.

God I hope I am correct here...

Nobody knows exactly when the fork will be done. Are you a member of the dev team or why do you recommend to deposit to block 20000? Perhaps the fork will be earlier or later...

[RinceWind84]

I am under the impression that the fork is roughly planned to happen at block 20000.
And that long term deposits that has been set for later blocks than 20000 will be corrected by the fork, so that the increased rates will only have an effect up until the block of the fork.

If I extrapolate to block 20 000 rate will be over 1900% (20x). 100% => 2x, 200% => 3x, 1900% => 20x. The earlier to made your deposits the lower the relative value will be.



If the fork will happet at block 20 000 ATM you should make deposits which will mature before block 20 00 so can deposit your coins second time before the fork.

I think you are misunderstanding what the fork is supposed to do.

If I am right, the main purpose of the fork is to correct this error where the long-term deposits become increasingly lucrative. And thereby correcting the estimated interest-rates.

This would mean that for whatever length of term you deposit before the fork. The period of your chosen term that happens after the fork, will only accrue the value that corresponds with the originally intended interest.

So whatever you have in you wallet right now, you should deposit with a maturation block of block 20000.

God I hope I am correct here...

Nobody knows exactly when the fork will be done. Are you a member of the dev team or why do you recommend to deposit to block 20000? Perhaps the fork will be earlier or later...

I am not a member of the dev team. I just seem to remember that block 20000 was set for a supposed goal for the fork to be made. I searched for that post but couldn't find it.
As I recall it wasn't a sure thing, just a best bet at the time.

[CryptoMarv]

I am under the impression that the fork is roughly planned to happen at block 20000.
And that long term deposits that has been set for later blocks than 20000 will be corrected by the fork, so that the increased rates will only have an effect up until the block of the fork.

If I extrapolate to block 20 000 rate will be over 1900% (20x). 100% => 2x, 200% => 3x, 1900% => 20x. The earlier to made your deposits the lower the relative value will be.

If the fork will happet at block 20 000 ATM you should make deposits which will mature before block 20 00 so can deposit your coins second time before the fork.

I think you are misunderstanding what the fork is supposed to do.

If I am right, the main purpose of the fork is to correct this error where the long-term deposits become increasingly lucrative. And thereby correcting the estimated interest-rates.

This would mean that for whatever length of term you deposit before the fork. The period of your chosen term that happens after the fork, will only accrue the value that corresponds with the originally intended interest.

So whatever you have in you wallet right now, you should deposit with a maturation block of block 20000.

God I hope I am correct here...

Nobody knows exactly when the fork will be done. Are you a member of the dev team or why do you recommend to deposit to block 20000? Perhaps the fork will be earlier or later...

I am not a member of the dev team. I just seem to remember that block 20000 was set for a supposed goal for the fork to be made. I searched for that post but couldn't find it.
As I recall it wasn't a sure thing, just a best bet at the time.

OK, perhaps the devs could bring light into the darkness later, about the planned block hight of the fork. :-)

[RinceWind84]

It was on the slack channel that I saw this mentioned. the 22nd of November.

"   

Gary Hobson 4:25 PM

its currently set to block 20000, 2 weeks from now on, but it will depend on test results. obviously right now Thanksgiving is more important "

So I don't know if this is still the plan.

[HodlOrava]

I think you are misunderstanding what the fork is supposed to do.

If I am right, the main purpose of the fork is to correct this error where the long-term deposits become increasingly lucrative. And thereby correcting the estimated interest-rates.

This would mean that for whatever length of term you deposit before the fork. The period of your chosen term that happens after the fork, will only accrue the value that corresponds with the originally intended interest.

So whatever you have in you wallet right now, you should deposit with a maturation block of block 20000.

God I hope I am correct here...

OK. I thought that what happens before the fork is not altered.

So after the fork your earned balance in the wallet will be decreased. If I send some coins to my friend and made 6 months deposit, my friends earned balance shows eg 5 000 coin earned, he will notice that suddenly he has only 3 000 coins. Quite confusing it you paid something with ROIcoins

[CryptoMarv]

It was on the slack channel that I saw this mentioned. the 22nd of November.

"   

Gary Hobson 4:25 PM

its currently set to block 20000, 2 weeks from now on, but it will depend on test results. obviously right now Thanksgiving is more important "

So I don't know if this is still the plan.

OK, thanks a lot.   I am not on the slack channel, so I was wondering about the block height of 20000 you mentioned.  

[CryptoMarv]

I think you are misunderstanding what the fork is supposed to do.

If I am right, the main purpose of the fork is to correct this error where the long-term deposits become increasingly lucrative. And thereby correcting the estimated interest-rates.

This would mean that for whatever length of term you deposit before the fork. The period of your chosen term that happens after the fork, will only accrue the value that corresponds with the originally intended interest.

So whatever you have in you wallet right now, you should deposit with a maturation block of block 20000.

God I hope I am correct here...

OK. I thought that what happens before the fork is not altered.

So after the fork your earned balance in the wallet will be decreased. If I send some coins to my friend and made 6 months deposit, my friends earned balance shows eg 5 000 coin earned, he will notice that suddenly he has only 3 000 coins. Quite confusing it you paid something with ROIcoins

All my deposits are between 10-12 month. So I will be very sad after the fork when I will see the decreased balance.  For my part it would be nice if the balance would not change with the fork. 

[Immanuel10]

Do you think your project is succeful ?

[RinceWind84]

I just wanted to give a quick update on the upcoming fork:


The problem:
We worked very hard to produce flawless code but frankly we missed the mark. We did extensive beta testing prior to launch and were unable to discover any issues with the coin. However, after monitoring ROI Coin since launch it has been determined that we had a bit of code that was causing an unintended result and that is that term deposit interest is not holding flat but ever increasing block by block.

The solution:
We have already modified the code and done preliminary testing and everything looks great.

What to expect:

• The new wallet release will still have the original target payout interest amounts for term deposits.
• The POS standard APR will be increased
• Term deposits completed before the fork will pay out at the incorrect increased rates
• Term deposits in process after the fork will adjust to the new corrected rates
• The new wallet will be available prior to the fork and will provide a seamless move to the new code
• No other changes are being implemented at the fork to reduce the possibility of issues

When will the fork happen:
Obviously we are going to do extensive testing on a test-net before release. Currently we anticipate the fork to occur within the next two weeks assuming we don't discover any issues.

Feedback:
We desire to be completely transparent and are also happy to address any questions or concerns that you might have. Just quote this post and we will do our best to respond quickly.


EDIT>> Power User Hint:
Term deposit your coins for less than two weeks and capture these increased term deposit rates while you can. Very soon they will go away and never be available again!

Awesome! Thanks for keeping us posted and for sharing that tip!!

Thanks for your hard work

Btw will these affect my already 1 year deposited coins ? and what about this two week term deposit thing ?

Yes your 1 year deposit that is still in process at the fork will not yield the incorrect increased rate but rather will revert to the correct rate...

So as I read it from this post from @DisasterFaster your long term deposits will be corrected/decreased after the fork.

[CryptoMarv]

I just wanted to give a quick update on the upcoming fork:


The problem:
We worked very hard to produce flawless code but frankly we missed the mark. We did extensive beta testing prior to launch and were unable to discover any issues with the coin. However, after monitoring ROI Coin since launch it has been determined that we had a bit of code that was causing an unintended result and that is that term deposit interest is not holding flat but ever increasing block by block.

The solution:
We have already modified the code and done preliminary testing and everything looks great.

What to expect:

• The new wallet release will still have the original target payout interest amounts for term deposits.
• The POS standard APR will be increased
• Term deposits completed before the fork will pay out at the incorrect increased rates
• Term deposits in process after the fork will adjust to the new corrected rates
• The new wallet will be available prior to the fork and will provide a seamless move to the new code
• No other changes are being implemented at the fork to reduce the possibility of issues

When will the fork happen:
Obviously we are going to do extensive testing on a test-net before release. Currently we anticipate the fork to occur within the next two weeks assuming we don't discover any issues.

Feedback:
We desire to be completely transparent and are also happy to address any questions or concerns that you might have. Just quote this post and we will do our best to respond quickly.


EDIT>> Power User Hint:
Term deposit your coins for less than two weeks and capture these increased term deposit rates while you can. Very soon they will go away and never be available again!

Awesome! Thanks for keeping us posted and for sharing that tip!!

Thanks for your hard work

Btw will these affect my already 1 year deposited coins ? and what about this two week term deposit thing ?

Yes your 1 year deposit that is still in process at the fork will not yield the incorrect increased rate but rather will revert to the correct rate...

So as I read it from this post from @DisasterFaster your long term deposits will be corrected/decreased after the fork.

Unfortunately yes.   

[RinceWind84]

Unfortunately yes.   

Well I guess this is ultimately in the coins best interest. Not giving a huge advantage to the first movers because of an error. Just my opinion.

[DisasterFaster]

Unfortunately yes.   

Well I guess this is ultimately in the coins best interest. Not giving a huge advantage to the first movers because of an error. Just my opinion.

We are still doing testing on testnet trying to make sure the release is smooth.

It is our intent that term deposits in process prior to the fork will continue unchanged. Term deposits after the fork will be on the new corrected interest rates.

It gets complicated because we have code giving standard POS and we have code giving term deposit interest and of course these stack and move block by block. We already have term deposits in motion and have to fork the coin and the fork must deal with numerous things...

No worries at all this will be smooth as butter

[Immanuel10]

What is the point of investing in innovative technologies?

[rohitm]

What is the point of investing in innovative technologies?

To have fun?

[cryptoRX]

Unfortunately yes.   

Well I guess this is ultimately in the coins best interest. Not giving a huge advantage to the first movers because of an error. Just my opinion.

We are still doing testing on testnet trying to make sure the release is smooth.

It is our intent that term deposits in process prior to the fork will continue unchanged. Term deposits after the fork will be on the new corrected interest rates.

It gets complicated because we have code giving standard POS and we have code giving term deposit interest and of course these stack and move block by block. We already have term deposits in motion and have to fork the coin and the fork must deal with numerous things...

No worries at all this will be smooth as butter

That would be nice... Esp since I placed everything in a yr's term deposit.

[Resar]

What is the point of investing in innovative technologies?

To have fun?

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