ElephantCoin - ELP | PoW with Superblocks | Please Upgrade to Version 1.2

[flyingcat]

Accumulate ok...but if this coin have a futur...
For the moment the demand on Coins-E isn't very good.

Hope for Cryptsy 

yes price always up when going to cryptsy. It is on their list, just have to wait.

This coin, IMO, is similar to Fastcoin and Alphacoin, both are doing great on cryptsy. I am sure ELP will do great once on the cryptsy

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[SistaFista]

website: ElephantCoin.tk

[thisnewcoin]

website: ElephantCoin.tk

thanks. bounty sent.

Unfortunately this website is of very low quality, I decided no to use it. A better website is created and serve as our official website:
http://elephantcoin.wordpress.com/

[bholzer]

It's unfortunate that this coin is almost toast. The key components of a successful new coin are now the PoW/PoS combo and no premine. In the end, the massive premine is probably what did ELP in. There was a shred of hope when it went to Coins-E...and I had a project in the works designed exclusively around ELP. After speaking with some of the major players (including BitJohn@Cryptsy) it was pretty clear none of them took ELP seriously after a (nearly) 1.5 million coin premine.

FYI, while ELP is technically "on the list" at Cryptsy, it will likely be leapfrogged into obscurity by new fair-launch coins and never truly make the cut. According to BitJohn, the days of premined coins succeeding are essentially over. Obviously the devs want to make some cash for their hard work...and it's not unreasonable to have coins to dish out for bounties/etc...but currently nearly 50% of ELP in existence was premined! Nowhere near that amount has been given away to my knowledge.

If something clever isn't done with the premined coins (or if they aren't at least voided out a la Nova) ELP is dead. It's already in a coma on life-support -- the premined coins will be worthless anyway if the currency dies. Maybe reward the people that have put their time, effort, and hash power into ELP by making a move to save Elephantcoin?

This is a fun coin to solo mine...and I think pools could do a lot to spice things up utilizing bonus payouts on superblocks (for example, giving the entire block to the blockfinder/etc to attract some high-hash players or even something as simple as keeping a superblock score worth some type of monthly bonus.)

Hopefully my time wasn't completely wasted. If things don't turn around, at least we all learned a lesson: lets officially quit supporting premined coins by greedy devs. The coins aren't all going back into the community -- lets be honest. It's enough of an advantage that the devs are among the first to begin mining...and they can accept donations/etc for community use.

This is particularly frustrating for me, as I began building this new project around ELP before truly understanding what makes up a quality coin. I found it cool and fun and didn't really realize how ridiculously massive the premine was -- we're essentially talking about nearly 30,000 blocks worth!

I hope for the best...but I am expecting the worst here.

[bholzer]

Just to clarify (don't want to spread false information) I believe the premine was ROUGHLY 1.5 million coins -- I have not verified this data but it is based off a rough calculation I did. It could be higher...although I believe it's (slightly) lower. Regardless, there was a large premine significant enough that the major exchanges are not interested in adding it.

This is unfortunate for me -- I have nothing to gain from the death of this coin as I have mined a total of around 250,000 ELP. Next to the dev, who accumulated their total via the premine, this likely makes me one of the largest ELP shareholders. I'm very disappointed in the direction here.

It's just so strange to me that devs that premine are willing to handicap their coin just for the remote possibility that they might make some easy money when it hits the exchange. Maybe I'm totally off-base here (especially considering they were upfront about the premine) but I'm definitely irritated.

[monocolor]

Just to clarify (don't want to spread false information) I believe the premine was ROUGHLY 1.5 million coins -- I have not verified this data but it is based off a rough calculation I did. It could be higher...although I believe it's (slightly) lower. Regardless, there was a large premine significant enough that the major exchanges are not interested in adding it.

This is unfortunate for me -- I have nothing to gain from the death of this coin as I have mined a total of around 250,000 ELP. Next to the dev, who accumulated their total via the premine, this likely makes me one of the largest ELP shareholders. I'm very disappointed in the direction here.

It's just so strange to me that devs that premine are willing to handicap their coin just for the remote possibility that they might make some easy money when it hits the exchange. Maybe I'm totally off-base here (especially considering they were upfront about the premine) but I'm definitely irritated.

this coin is not dead at all, I've been mining it and it goes great. This is a great coin and I support it!

There are many coins that have premined, but still doing quite OK in exchange, stablecoin was premined 1.2 mil, alphacoin was premined 1.0 mil, goldcoin 7 mil, your favorite megacoin premined a 3.8+ mil (what a shame! and of course you are not irratated), see here:
http://cryptometer.org/megacoin_96_hour_charts.html

[sam53]

Just to clarify (don't want to spread false information) I believe the premine was ROUGHLY 1.5 million coins -- I have not verified this data but it is based off a rough calculation I did. It could be higher...although I believe it's (slightly) lower. Regardless, there was a large premine significant enough that the major exchanges are not interested in adding it.

This is unfortunate for me -- I have nothing to gain from the death of this coin as I have mined a total of around 250,000 ELP. Next to the dev, who accumulated their total via the premine, this likely makes me one of the largest ELP shareholders. I'm very disappointed in the direction here.

It's just so strange to me that devs that premine are willing to handicap their coin just for the remote possibility that they might make some easy money when it hits the exchange. Maybe I'm totally off-base here (especially considering they were upfront about the premine) but I'm definitely irritated.

this coin is not dead at all, I've been mining it and it goes great. This is a great coin and I support it!

There are many coins that have premined, but still doing quite OK in exchange, stablecoin was premined 1.2 mil, alphacoin was premined 1.0 mil, goldcoin 7 mil, your favorite megacoin premined a 3.8+ mil (what a shame! and of course you are not irratated), see here:
http://cryptometer.org/megacoin_96_hour_charts.html

Of course this megacoin is a joke, and is boosted by the chinese gangs.

[jlong187]

MEC is a crap

[bholzer]

The difference is that MegaCoin is being actively traded and has been establishing itself for a while...and after this difficulty formula is adjusted it will likely cruise forward as it was. I'm not trying to hate on ElephantCoin -- I have mined a ton of them! The problem is that it's just another premined coin that was a bit late to the party. I've talked to the people running the show at the major exchanges/etc and they all said that ElephantCoin likely won't make the cut due to the large premine. Some coins can overcome a premine...but ElephantCoin hasn't (at least not yet.) There are new PoW/PoS coins rolling out almost daily with no premine and decent launches -- lets get ElephantCoin into the spotlight somehow. I'm willing to help...but we need the dev to cooperate.

Basically, unless those premined blocks are voided, a public ledger is opened (a la CGB,) or something along those lines and the premined coins start flowing into some cool projects...it's going to be difficult for ElephantCoin to grow. My guess is the dev has already dumped a pile of ElephantCoins onto the open market when they hit Coins-E (I haven't looked into this -- just a guess, though.)

I realize a ton of other currencies have been premined...and sometimes it makes sense if utilized properly...but when 1.5 million coins were premined, and less than 10% of them have been paid out as bounties/etc, how does ElephantCoin stand out from the giant pack of alt-coins that are more progressive?

I'd love to see the coin survive and grow -- I'm invested in ElephantCoin. I'm not opposed to devs making some money off their coin either...but they need to be reasonable about it too. This coin is struggling (and has been struggling basically since launch) -- why isn't the dev making a move to improve the situation?

I want ElephantCoin to survive but we need to work together on it.

[bholzer]

Here is a direct quote from an Email I received from BitJohn@Cryptsy less than a week ago:

"We recently changed our strategy in picking coins research wise and how a premine affects the value. With the recent rush of new fair release coins many have jumped to the front of the pack. Proof of Stake is also a bonus due to the 51% resistance inherent in their design. An active Dev team is also a big plus. Elephantcoin is on the list but is suffering from its premine. I am a fan of super blocks myself because I find them fun to mine solo but regardless the newer fair release coins have won out."

Don't kill the messenger -- I'm just trying to pump some life into this situation.

[sam53]

There's nothing to depend yourself, you are just a shameless promoter of another coin, trying to bush this one. MEC your favorite pre mined 3.8 million, you want to defend it? just look at the block chain chart, it's all there. Is ELP better than it? Definitely it is. Is ELP premined? Yes, dev never hide it. Go to MEC thread to see if dev of the MEC try to hide the premine or not?

If you don't like ELP, just go away, no one asked you to mine this coin. Go mining your favorite one that has 3.8 mil premine in it. I'd be more happy if you do that.

[bholzer]

The reactions here are ridiculous -- MegaCoin is in a serious funk right now after the reward halving and I'm definitely not promoting it anywhere in this thread (nor in any other, actually.) A ton of coins have massive premines -- I never claimed Elephantcoin was the only one nor claimed it was the worst offender. My entire point was that the rules of the game have changed. I didn't make the rules and I'm not even saying I agree with them 100%...but the fact is that new coins simply don't have it as easy as they used to. Don't just take my word for it: I urge you guys to contact the major exchanges and major developers/etc.

I mined a mountain of Elephantcoins and I don't want them to remain worthless. My point was that unless the dev caves and lets go of some of those premined coins, Elephantcoin is doomed. I've had numerous conversations with major players in the altcoin community and none of them will touch Elephantcoin solely because of the premine. I think it's completely fine to premine a reasonable amount for bounties/etc and I'm not even opposed to the developer(s) keeping a few for all of their efforts...but beyond that why not just accept donations? Right now, 1/3 of the total ELP out there was premined.

Jumping all over me about it is ridiculous -- I'm trying to save Elephantcoin. If more of the premined ELP isn't parted with and some type of publc ledger isn't put out there or something this coin will die. There isn't enough to set it apart from the countless other premined altcoins. Perhaps if Elephantcoin beat MegaCoin/etc to market it would have a chance...but something needs to be done. MegaCoin could easily be toast soon too.

If you disagree, you're simply disagreeing with facts. I have no hidden agenda here and I'm not pushing MegaCoin - I'm trying to save my investment in ELP. Unfortunately, if the responses thus far are any indication of the Elephantcoin community, it's looking like ELP is doomed.

I will move on - you guys are a lost cause.

[flyingcat]

lol, no need to fight, guys we are here for fun. I like this coin, just because I like elephant. Who cares how much it will worth. It will worth something in the end. I am having fun mining it.

[bholzer]

lol, no need to fight, guys we are here for fun. I like this coin, just because I like elephant. Who cares how much it will worth. It will worth something in the end. I am having fun mining it.

I'd have more fun mining it if I knew it has the potential to be worth something. When I feel like I'm wasting time, power, and money...it sucks the fun out of it for me. I like the theme, I like the superblocks -- I just wish the pre-mine would have been smaller so the currency had a chance to be valuable and taken seriously. Greed will likely kill this coin...even if similar coins succeeded in the past with greedy devs. No matter what ELP ultimately ends up being worth, it would have been worth a lot more with a smaller pre-mine. I just don't understand the advantage of these massive pre-mines -- the pre-mining makes the very thing you're trying to profit from worthless. If the dev would have pre-mined 1/4 as much ELP, it would already be trading on Cryptsy/etc for 0.0001 or higher and there would be 10 times as much hash power going into the network. A couple days ago I saw the difficulty was down to 0.019 -- that's not a good sign this far into the launch. Nobody wants the dev to do something to keep Elephantcoin alive? If not, then you don't really care about this coin.

[monocolor]

don't waste your time here, if your goal is to bush the coin. Go to your favorite coins and mine them, I don't care if they are pre mined 3.8 mil or 5 mil, as long as you like it. Just don't have double standards and dump your shits here, we are a good community here. People like this coin and mine it. If you don't like, just go away, no one cares about you.

[bholzer]

don't waste your time here, if your goal is to bush the coin. Go to your favorite coins and mine them, I don't care if they are pre miit.ed 3.8 mil or 5 mil, as long as you like it. Just don't have double standards and dump your shits here, we are a good community here. People like this coin and mine it. If you don't like, just go away, no one cares about you.

I'm not here to "bush" the coin - this is the most insane community I have ever seen! I mined a ton of ELP - I'm hoping for a return on my investment! I'm telling you what the exchange operators, devs, and major players are saying! Obviously the pre-mine didn't deter me personally or I wouldn't have mined it. What the hell is wrong with you people? If you want the coin to be worthless, do nothing. I'm telling you that it will be worthless and die if something isn't done. If that happens, we all lose.

It's like a bunch of angry 6th graders in here - this is crazy! I relay information in an attempt to save this currency and you guys have a meltdown? I have 250k ELP here - somebody make me an offer for a portion of it. I'll trade for anything that is currently traded at Cryptsy. After these reactions, I don't feel secure holding this amount any longer.

Talk about shooting the messenger...

[bholzer]

don't waste your time here, if your goal is to bush the coin. Go to your favorite coins and mine them, I don't care if they are pre mined 3.8 mil or 5 mil, as long as you like it. Just don't have double standards and dump your shits here, we are a good community here. People like this coin and mine it. If you don't like, just go away, no one cares about you.

By the way, I urge every logical person or anybody with even a shred of financial knowledge or simply common sense to read this guy's response again. It's so amazing that I'm starting to wonder if this is Ashton Kutcher and I'm being PUNKED! Is Ashton Kutcher the Elephantcoin dev?

[bronan]

Well its very silent for some time now around the coin one pool not working anymore and i do not see the coin being accepted by the crowd or being traded on the exchanges
I am not even sure if someone is still mining and how much power they use for hashing

But some events made me stop spend any time and hash power on the coin

Since the new version was released on solo mining i could not get a single block anymore even though i was hashing with near 1 Mh/s power
In 6 hours no blocks at all with this speed is impossible.

If i switch to the p2pool which still is avaliable it suddenly seems to have each and every 3 to 10 minutes a new block

I do not understand why people allways need to be instant aggessive if someone posts his concerns or ideas, i hardly see anyone respond respectfull on normal conversations these days without swearing a lot. Yes english is not main language and yes i did learn english only from tv before someone say this.

But being try to keep this forum civil as much as possible

[dulinxu]

will it come to btcltc to exchange??   

[bholzer]

will it come to btcltc to exchange??   

No - I spoke to the operator there and he explained the reasons behind it. It also wont make it to Cryptsy anytime soon (hasnt been ruled out forever, though. If people keep mining it could happen eventually.) I came here to inform the ELP crowd of my conversations with exchange owners and major devs, but apparently they don't care about exchanges or reach. They jumped all over me in multiple threads and repeated over and over, "don't mine ELP!"

If you are looking to keep your sanity, I wouldn't ask too many questions in this thread (logic is the enemy in here.)