[GLC] Globalcoin | 4 Year Anniversary 1.5.4! | NO IPO, NO PREMINE | [SCRYPT]

[DigitalHoldings]

I'm not that keen on further reducing coin supply but there is a way to do it regardless of how many coins are already minted, a conversion with a trusted exchange partner.

This would require a rewrite of the code base, a fresh start with a new genesis block and adjustment of the current mining rewards to fit in.

1. Find trusted exchange to convert old coins to new coins. (bittrex.com has provided this service before)
2. Give notice to community they have 7 days to deposit their coins into said exchange (user balance, user controlled). Any coins not deposited within this period will not be included in new chain.
3. After 7 days exchange shows their wallet balance of old coins and conversion is calculated.
4. Modify new GLC code base so block 1 includes x amount of coins for conversion. Devs mine first block.
5. Devs release new daemon and client code to pools, exchanges etc.
5. Devs send mined coins from block 1 to exchange, with proof of transaction. Exchange then distributes new coins to each user per their old coin balance.
6. Coin supply is now completely different with users still holding coins at the same ratio. Old coins are no longer valid on the Globalcoin block chain.

A further example:

Say we have 50 million GLC currently mined out of the 70 million and we want to change the total supply from 70 to 20 million coins.

20 million coins is a 3.5x reduction from 70 million.

Say only 35 million coins are deposited into the exchange after the 7 days. People who don't deposit their old coins will effectively lose them.

Deposited coins are now treated as the current mined supply, disregard the 50 million. So 35 million coins of 70 million coins are now "mined".

Convert these 35 million deposited coins retaining the same ratio for new 20 million coin supply.

35,000,000 / 3.5 = 10,000,000

Devs implement block 1 to have 10,000,000 reward and once they mine it send to exchange.

Devs publicly release new client.

Exchange now converts each users balances to the new coins and users can now withdraw to their new wallets or trade on the exchange.

For instance if I held 100,000 GLC before the conversion I have ~0.14% of the 70 million total supply. The above method means after the conversion I would hold ~28,571 GLC which again is ~0.14% of the new 20 million total supply.

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[venlo]

Why don't you guys do what dark coin did.  They cut the max coins from 88 million to 22 million.  It added instant value to Their coin.


70 million coins ain't that bad, but if you dropped that down to sub 20 million, this coin would jump 10 fold in value overnight on at least a value play.

Good luck!

Lol what an idea To be honest.. why not?

how would you do that with 44million minted already?

Cut the cap to say 50 million then drop the subsidy to a nominal inflation rate like 1% or 2% per year.

Look at i0Coin. 99% of the coins are mined, there's like 1 or 2 coins per block now and it still has lots of merge miners.

Granted this wouldn't be as effective as it would have been a few months ago.

Just a thought to help increase the scarcity and thus, the value right away.


Cheers!

that would need merged mining but probably the best method to make it more scarce to bring down number of coins available to newly mint.

I'm not that keen on further reducing coin supply but there is a way to do it regardless of how many coins are already minted, a conversion with a trusted exchange partner.

This would require a rewrite of the code base, a fresh start with a new genesis block and adjustment of the current mining rewards to fit in.

1. Find trusted exchange to convert old coins to new coins. (bittrex.com has provided this service before)
2. Give notice to community they have 7 days to deposit their coins into said exchange (user balance, user controlled). Any coins not deposited within this period will not be included in new chain.
3. After 7 days exchange shows their wallet balance of old coins and conversion is calculated.
4. Modify new GLC code base so block 1 includes x amount of coins for conversion. Devs mine first block.
5. Devs release new daemon and client code to pools, exchanges etc.
5. Devs send mined coins from block 1 to exchange, with proof of transaction. Exchange then distributes new coins to each user per their old coin balance.
6. Coin supply is now completely different with users still holding coins at the same ratio. Old coins are no longer valid on the Globalcoin block chain.

A further example:

Say we have 50 million GLC currently mined out of the 70 million and we want to change the total supply from 70 to 20 million coins.

20 million coins is a 3.5x reduction from 70 million.

Say only 35 million coins are deposited into the exchange after the 7 days. People who don't deposit their old coins will effectively lose them.

Deposited coins are now treated as the current mined supply, disregard the 50 million. So 35 million coins of 70 million coins are now "mined".

Convert these 35 million deposited coins retaining the same ratio for new 20 million coin supply.

35,000,000 / 3.5 = 10,000,000

Devs implement block 1 to have 10,000,000 reward and once they mine it send to exchange.

Devs publicly release new client.

Exchange now converts each users balances to the new coins and users can now withdraw to their new wallets or trade on the exchange.

For instance if I held 100,000 GLC before the conversion I have ~0.14% of the 70 million total supply. The above method means after the conversion I would hold ~28,571 GLC which again is ~0.14% of the new 20 million total supply.

bad idea for two reasons: people not paying attention now will be screwed in the process and bad publicity will come from that. And 2nd it only changes the numbers and doesn't help increase value.
Better do some marketing, updates and integrate new features to increase value.

[DigitalHoldings]

bad idea for two reasons: people not paying attention now will be screwed in the process and bad publicity will come from that. And 2nd it only changes the numbers and doesn't help increase value.
Better do some marketing, updates and integrate new features to increase value.

1. We could always expand the window of exchange time. I would assume anyone with substantial amounts of GLC would be paying attention anyway.

2. Changing the numbers (reducing the coin supply) makes it more scarce and in theory should demand higher price no?

but yes I heavily agree that marketing, updates and new features is the BEST approach.

[DigitalHoldings]

Some exciting news!

Globalcoin will have a new feature packed blockchain explorer soon!

Blocks and transactions in real-time
Balance checking for wallet addresses
QR codes for public addresses
Pool hashrate distribution data
Latest GLC/BTC and GLC/USD prices
Market cap value and live coin supply numbers
Top 100 rich list by address and wealth distribution data
Simple and elegant bootstrap interface
Hosted on a blazing fast server

Pretty much just waiting on the database to sync, it'll be live by tomorrow hopefully

[venlo]

2. Changing the numbers (reducing the coin supply) makes it more scarce and in theory should demand higher price no?

but yes I heavily agree that marketing, updates and new features is the BEST approach.

less number of coins do not by default raise marketcap. Less inflation (less new coins in the future) probably does help more over time. If less new coins come out the old ones will have more value. -> less for miners to dump. I think it is a good idea to bring inflation down as much as possible. (like Vlad2Vlad said)

we should primarily think of ways how to attract new money into the coin, i guess. That's mainly what it'll be about (raising marketcap). Right now it looks pretty easy to pump tbh. Doesn't need much capital to raise prices significantly from what i see.

[stevetrac]

 
CONGRATULATIONS! DEDICATEDPOOL.COM HOSTING THIS COIN!
 
Mining Information
 

• SSO (single sign-on) - one account for all our pools on Dedicated v2.0
  
• Custom stratum/mpos environment
• Vardiff enabled
• PPNLS payout system
• Everything is transparent - blocks, donations, fees.

Server Infrastructure
 

• SIX(6) SERVERS IN CLUSTER
• DDoS level 7 cloudflare, 5 and 3 stratum, and level at 1 switch level
• 8 Core servers, 256GB DDR3 RAM, RAID 10 SSD
• Ramdisks, memcaches, to make things go extremely quick

http://dedicatedpool.com
admin@dedicatedpool.com / IRC on freenode ##dedicatedpool

why spam us when the new site does not even have globalcoin listed and the old one you have not been able to mine on since the 5th , tosser

[DigitalHoldings]

GLC was the coin that pretty much bought dedicatedpool.com into existence so I'm sure Ryan will be supporting it with V2 soon.

Dedicatedpool is updating to the new client rirght now.  Globalcoin was our first coin.  I stand by it.

IT IS SO EXCITING TO SEE GLC BACK

[DigitalHoldings]

Just a reminder for everyone to please vote on MintPal for GLC

https://www.mintpal.com/voting#GLC

[IMCHANGEW.IN]

Hello, why wallet does not sync?

[DigitalHoldings]

Hello, why wallet does not sync?

You will need to create a globalcoin.conf file and add some nodes. This is the globalcoin.conf file taken from the main post:

Code:

rpcuser=**username**
rpcpassword=**strongpassword!**
rpcallowip=localhost
rpcport=55788
port=55789
server=1
gen=0
maxconnections=100
addnode=212.83.191.197
addnode=24.137.85.148
addnode=162.243.239.107
addnode=162.243.106.159
addnode=24.122.8.30
addnode=98.251.13.2
addnode=144.76.64.123
addnode=64.34.49.151
addnode=162.243.208.154
addnode=91.229.20.63
addnode=100.42.224.37
addnode=85.25.194.85
addnode=67.210.249.29
addnode=68.194.211.44
addnode=86.164.196.230
addnode=193.77.237.36
addnode=204.11.237.246
addnode=222.187.222.55
addnode=37.187.28.68
addnode=67.184.80.241
addnode=46.105.118.226
addnode=195.195.217.140
addnode=142.4.219.23
addnode=76.179.106.219
addnode=162.243.63.239
addnode=72.78.100.13
addnode=80.235.7.253
addnode=50.7.135.34
addnode=162.243.231.130
addnode=192.99.13.205
addnode=54.83.3.49
addnode=46.234.101.56
addnode=86.19.223.245
addnode=144.76.25.176
addnode=93.57.10.97
addnode=144.76.93.110
addnode=192.99.13.126
addnode=193.242.159.253
addnode=65.102.225.189
addnode=88.190.42.116
addnode=188.165.194.96
addnode=76.7.208.37
addnode=27.118.30.26
addnode=94.23.241.56
addnode=99.251.57.79
addnode=192.3.8.163
addnode=211.58.44.49
addnode=95.42.230.224

If you are on windows click start then run and type %appdata% then browse to the globalcoin folder and create a new text document fill it with the above then save as globalcoin.conf

Restart your wallet and you should get some connections.

[DigitalHoldings]

https://i.imgur.com/yc9qQRm.png


It's here everyone! The new and improved Globalcoin Blockchain Explorer

Featuring:
★ Blocks and transactions in real-time ★
★ Balance checking for wallet addresses ★
★ QR codes for public addresses ★
★ Pool hashrate distribution data ★
★ Latest GLC/BTC and GLC/USD prices ★
★ Market cap value and live coin supply numbers ★
★ Top 100 rich list by address and wealth distribution data ★
★ Simple and elegant bootstrap interface ★
★ Hosted on a blazing fast server ★

We also have historical mining difficulty and transaction number charts too: http://coinz.cryptoid.info/diff/?glc

Big thanks to fairglu for coding everything.

p.s I paid to have this developed and hosted out of my own pocket, so any GLC donations would be appreciated

[DigitalHoldings]

The wealth distribution of GLC is quite interesting! There's almost 18,000 addresses seen on the network and don't forget some of the richest addresses are likely cold wallets of exchanges.

There's also addresses in the top 20 rich list that haven't seen change for hundreds of days, hope those aren't lost coins

Comparing Globalcoins wealth distribution to other coins, especially the big market cap players, it's about on par or even more diverse.

https://i.imgur.com/DDApfjC.png

[Cryptocoinrank.com]

█ ★Globalcoin (GLC) █→ Now Live on: http://www.cryptocoinrank.com/Globalcoin




Hope you and the community like it. For a brief description about www.cryptocoinrank.com see: https://bitcointalk.org/index.php?topic=579901.0

Enjoy 

[DigitalHoldings]

So Globalcoin is nearly a year old and distributed quite well... with IMO a ridiculously undervalued trading price purely because it's now lacking in services and development.

I've got the ball rolling with the new block explorer, let's get some other things done!

We shouldn't rely on the original developers to do absolutely everything, the community can surely chip in. Let's get Globalcoin back on top!!!

[pabloangello]

So Globalcoin is nearly a year old and distributed quite well... with IMO a ridiculously undervalued trading price purely because it's now lacking in services and development.

I've got the ball rolling with the new block explorer, let's get some other things done!

We shouldn't rely on the original developers to do absolutely everything, the community can surely chip in. Let's get Globalcoin back on top!!!

Yep this is a sleeping monster that could be push very high if further development and marketing will be done well and with a strong kick.

Reminds me quark and zetacoin last year due to undervalue and lack of attention.

[DigitalHoldings]

With Globalcoin celebrating its one year anniversary this month I think it deserves a shiny new logo. Here's a few concepts I designed today, what does everyone think?

https://i.imgur.com/RncNxdx.png

Number 3 takes my fancy

[pabloangello]

All look nice

[SistaFista]

With Globalcoin celebrating its one year anniversary this month I think it deserves a shiny new logo. Here's a few concepts I designed today, what does everyone think?



Number 3 takes my fancy

I like number 7

[stevetrac]

With Globalcoin celebrating its one year anniversary this month I think it deserves a shiny new logo. Here's a few concepts I designed today, what does everyone think?



Number 3 takes my fancy

I like number 7

none of them it shows disrespect , only 1/5 of the globe so only the america's count  do they

[DigitalHoldings]

none of them it shows disrespect , only 1/5 of the globe so only the america's count  do they

Ouch.. well how about this quick edit then lol.

https://i.imgur.com/X7Tt6Gv.png