{ANN} Cloudcoin CDC Release Announcement - POS/POW Scheme| NEWS - UPDATE V1.1

[markm]

If you can give "generous" rewards without a "generous" pre-mine why bother to pre-mine at all since you evidently have other ways to obtain coin to reward people?

(Like you have a miner maybe and a low latency link, so will get most of the instamined coins? Which reminds me, what is the starting difficulty?)

Other scammers who felt they "deserved" or "needed" a pre-mine have been advised to simply make sure to start a pool first before even launching the coin, as that way you can charge 2% fee on the pool, most users will use the pool from the start if difficulty starts at a reasonable level instead of being an instamining orphan-fest, and presto you thus get a percentage of almost all miners' coins...

-MarkM-

[elambert]

I like the logo and I like Ahmed! Good luck guys! Let me know if I can help in any way!

[nawazish1]

This is like: so why is the new mercedes innovative?
It is not. There are small changes to make it better but that is it. The important thing is the team behind the coin. Look at phenixcoin. They have such a good team and their coin is getting stronger and stronger. We will try everything to back up our coin and to make it worldwide.

+1 I like your attitude. I am PXC supporter and closely watching your coin. Cloud is a very good name. I also don't understand people who say where is the Innovation. If they are really innovation hungry then why do they use cell phones other then Iphone. And I am sure lots of people here who ask about innovation don't use Iphone.

[Kujmandosz]

If you can give "generous" rewards without a "generous" pre-mine why bother to pre-mine at all since you evidently have other ways to obtain coin to reward people?

(Like you have a miner maybe and a low latency link, so will get most of the instamined coins? Which reminds me, what is the starting difficulty?)

Other scammers who felt they "deserved" or "needed" a pre-mine have been advised to simply make sure to start a pool first before even launching the coin, as that way you can charge 2% fee on the pool, most users will use the pool from the start if difficulty starts at a reasonable level instead of being an instamining orphan-fest, and presto you thus get a percentage of almost all miners' coins...

-MarkM-

We are not gonna have an instamine, since we set the starting difficulty high. The pools is also under development which will be released with the coin, and (the pool is not gonna be mine)

[Kujmandosz]

This is like: so why is the new mercedes innovative?
It is not. There are small changes to make it better but that is it. The important thing is the team behind the coin. Look at phenixcoin. They have such a good team and their coin is getting stronger and stronger. We will try everything to back up our coin and to make it worldwide.

+1 I like your attitude. I am PXC supporter and closely watching your coin. Cloud is a very good name. I also don't understand people who say where is the Innovation. If they are really innovation hungry then why do they use cell phones other then Iphone. And I am sure lots of people here who ask about innovation don't use Iphone.

Hi nawazish1,

Thank you for your support. You have been doing an unreal job supporting phenixcoin, so good job.

[fluffypony]

Thank you for your answer. You have good thinking and thought. In my opinion early adoption bonus is not fair either, since the ones who are online and catch the start, will have an advantages against those who start mining later. We are planning to have a really small amount of premined coins. So we can support the ones who deserve it and the ones who make pools, faucets and more services for us. I would like to support this coin 100% and award the ones who use it, so In my opinion a small amount of premine is inevitable in order to improve the coin. I think that we can help our miners in more ways like that.
I decided to use the 20 second block times to get a 1 minute transaction time, which is just in the middle. Not too slow and not that ridiculously fast like fastcoin. But we will consider changing it a little bit, since you mentioned it.

Again thank you for your suggestions. Keep this up and you will get rewarded for you support. We have a user activeness list, and the most active users will get generous rewards.

With a pre-announcement (as you have done) and a solid launch date you don't need to worry about it only being the ones who are online:)

[Kujmandosz]

I like the logo and I like Ahmed! Good luck guys! Let me know if I can help in any way!

Thank you elambert. Yes we are so lucky to have ahmed in our team. Sure you can help. Because we will need more pools ( I would like to optimize the number of pools too, we are planning to have up to 5-6 quality pools) for the start and 1-2 faucets too. So if you can make a faucet or a pool we would really appreciate it. (with bounty of course)

also spread the world that Cloudcoin is on the way!!!!!

[apbyte]

Instead of a premine, do the early adoption bonus that seems to be working (ie. day 1, 2 and 3 rewards start off high and taper off to normality from day 3 or 4 onwards).

+1

This is the best way - everybody will be happy that there is no premine, and you and people who want to risk jumping in new coin will have nice reward for their effort.

Also it will be easier to promote with making people understand that they need to jump in now not wait and forget about it.

[Kujmandosz]

Thank you for your answer. You have good thinking and thought. In my opinion early adoption bonus is not fair either, since the ones who are online and catch the start, will have an advantages against those who start mining later. We are planning to have a really small amount of premined coins. So we can support the ones who deserve it and the ones who make pools, faucets and more services for us. I would like to support this coin 100% and award the ones who use it, so In my opinion a small amount of premine is inevitable in order to improve the coin. I think that we can help our miners in more ways like that.
I decided to use the 20 second block times to get a 1 minute transaction time, which is just in the middle. Not too slow and not that ridiculously fast like fastcoin. But we will consider changing it a little bit, since you mentioned it.

Again thank you for your suggestions. Keep this up and you will get rewarded for you support. We have a user activeness list, and the most active users will get generous rewards.

With a pre-announcement (as you have done) and a solid launch date you don't need to worry about it only being the ones who are online:)

Yes, I know. But I wil make sure to please the most people with the release and I will "warn everybody in time". So everybody can be prepared to start mining Cloudcoin.

[markm]

That doesn't make it any better, it really just amounts to "we are about to pull a big ponzi scam, get in at the start or be one of the screwed later".

That is only going to attract more scammers, anyone with integrity is going to refuse to be one of the scammers profiting from that "get in at the start" scam that is the common hallmark of pyramids and ponzis.

If the thing is actually good, there will be plenty of profit for early adopters without any need to artificially "sweeten the pot" like pyramids and ponzis, scamcoins and crapcoins do, because the value of the coins will tend upward over time instead of the usual crapcoin pump and dump crap happening.

Adding extras for early adopters really just adds ammo to the pump and dump people's pockets.

-MarkM-

[Kujmandosz]

Instead of a premine, do the early adoption bonus that seems to be working (ie. day 1, 2 and 3 rewards start off high and taper off to normality from day 3 or 4 onwards).

+1

This is the best way - everybody will be happy that there is no premine, and you and people who want to risk jumping in new coin will have nice reward for their effort.

Also it will be easier to promote with making people understand that they need to jump in now not wait and forget about it.

I know it is a good point. But you know, you have to jump on the train fast either in order to benefit well. Difficulty will rise exponentially and block rewards will be halved too after a while. But we will consider the suggestion.

PS: We have been putting so much work and effort into this coin and you would not want us to hold a small amount of coins. That will go into development, support and rewarding. Please... If I wanted to get rich quick I would just work in my father's company. But instead i am investing into Cloudcoin and I am trying to create a strong exchange currency. Long term - not short term

[Kujmandosz]

That doesn't make it any better, it really just amounts to "we are about to pull a big ponzi scam, get in at the start or be one of the screwed later".

That is only going to attract more scammers, anyone with integrity is going to refuse to be one of the scammers profiting from that "get in at the start" scam that is the common hallmark of pyramids and ponzis.

If the thing is actually good, there will be plenty of profit for early adopters without any need to artificially "sweeten the pot" like pyramids and ponzis, scamcoins and crapcoins do, because the value of the coins will tend upward over time instead of the usual crapcoin pump and dump crap happening.

Adding extras for early adopters really just adds ammo to the pump and dump people's pockets.

-MarkM-

Just to clerify thng here:
We are going to have a fair start. Everybody will know. We are not gonna give extras to early adopters. We will support the ones who put work into the coin. Ones who make pools, sites, faucets and really active in the community

[TheSwede75]

There is absolutely no need what so ever for another SCRYPT altcoin. I wish GPU miners would just fucking get over it and stop releasing crap just to make a buck. Are we past the magic 50 when it comes to pointless copy paste shitprojects yet?

[apbyte]

There is a point in not giving bonus for early miners, I can understand that.


I myself don't have anything against premine, but many people have problem with that and it creates a lot of bad words floating around.

Probably the best you can do is to do some premine but be very precise about how much you did and from very beginning state clearly with list and numbers where it will be spent.

Smart people don't like premine if there is no information where it will go, but they are fine if they see where it will be spent and have updates when you do that spending.

[Kujmandosz]

There is absolutely no need what so ever for another SCRYPT altcoin. I wish GPU miners would just fucking get over it and stop releasing crap just to make a buck. Are we past the magic 50 when it comes to pointless copy paste shitprojects yet?

Sometimes I wish that after the creation of the first ford car, no other car companies had developed. It would have been much better for everybody.

[Buffer Overflow]

There is absolutely no need what so ever for another SCRYPT altcoin. I wish GPU miners would just fucking get over it and stop releasing crap just to make a buck. Are we past the magic 50 when it comes to pointless copy paste shitprojects yet?

Sometimes I wish that after the creation of the first ford car, no other car companies had developed. It would have been much better for everybody.

Would be less cars on the road.

Also future car companies are supposed to fix the flaws of the previous ones. I fail to see what niche your coin will fill or flaws it will fix.

[nawazish1]

There is absolutely no need what so ever for another SCRYPT altcoin. I wish GPU miners would just fucking get over it and stop releasing crap just to make a buck. Are we past the magic 50 when it comes to pointless copy paste shitprojects yet?

Sometimes I wish that after the creation of the first ford car, no other car companies had developed. It would have been much better for everybody.

Would be less cars on the road.

Also future car companies are supposed to fix the flaws of the previous ones. I fail to see what niche your coin will fill or flaws it will fix.

In the case of cryptos the coins themselves are nothing and they can provide nothing new for a normal user like you and me. The services are the differences which these coins will have. Open your eyes guys don't stick with BTC and LTC only.

[Buffer Overflow]

There is absolutely no need what so ever for another SCRYPT altcoin. I wish GPU miners would just fucking get over it and stop releasing crap just to make a buck. Are we past the magic 50 when it comes to pointless copy paste shitprojects yet?

Sometimes I wish that after the creation of the first ford car, no other car companies had developed. It would have been much better for everybody.

Would be less cars on the road.

Also future car companies are supposed to fix the flaws of the previous ones. I fail to see what niche your coin will fill or flaws it will fix.

In the case of cryptos the coins themselves are nothing and they can provide nothing new for a normal user like you and me. The services are the differences which these coins will have. Open your eyes guys don't stick with BTC and LTC only.

Please provide an example of a service that cannot be ported to BTC and/or LTC?

[Kujmandosz]

I think both of you are right. Obviously btc and ltc have the most value so far since they started earlier. On the other hand I think that other newer coins have more potential. They just need time to develop. Just how btc needed more than 3 years to get to a noticeable position. We are talking about a few months old coins here. Don't compare them to btc now.

[AgentME]

If you can give "generous" rewards without a "generous" pre-mine why bother to pre-mine at all since you evidently have other ways to obtain coin to reward people?

(Like you have a miner maybe and a low latency link, so will get most of the instamined coins? Which reminds me, what is the starting difficulty?)

Other scammers who felt they "deserved" or "needed" a pre-mine have been advised to simply make sure to start a pool first before even launching the coin, as that way you can charge 2% fee on the pool, most users will use the pool from the start if difficulty starts at a reasonable level instead of being an instamining orphan-fest, and presto you thus get a percentage of almost all miners' coins...

-MarkM-

Agreement.

Also, what is possibly the justification for 3 confirmations for a transaction? The original bitcoin paper itself calculates that at 3 confirmations, an attacker with only 10% of the network mining rate can double-spend 1% of his transactions.