[ANN] [QRK] Quark | Core 0.10 upgrade

[coinerer]

What does it mean rewarding investors:



4 Rewarding network maintenance on every level

Investors: people who provide funds and support the value by holding to it


Do you plan to reward biggest investors?     Why? For what? For this dumping?


                                             AGAINST!


It looks good this big font size.


Investors are already "rewarded" buying up to 30000 sat.

You have my wallet address from earlier, so you can reward me in front of this PoB.

[georgem]

Investors are already "rewarded" buying up to 3000 sat.

+1

Exactly.

I am happy about the low price now, and I know that this opportunity will soon disappear, and prices will soon rise again.

Why are some crypto people so impatient? And make all kinds of strange manipulative plans and intrusive demands?

This baby is about a year old, for crying out loud!!!

Let it grow!

There is no better indicator of a coins value than the free market.
Quark has a low value because it deserves it.
That's what you call price discovery, that is the exact price that quark deserves now.
Quark's price will grow when people use it for serious business. (I have some plans myself)
And only then.

So help create serious business, NOT this kind of shady protocol manipulation that would make the FED proud of you.

I'm impressed with the draft, what i like about Peter is that he as an ambitious dev (or one of the devs) of this coin who is connected to the community and is a strong favour of transparency, this alone build trust.

I invest in cryptocurrencies so I DON'T NEED to trust other people IN THE FIRST PLACE.
Seriously, can someone summarize in a few words or sentences what this whole Proof of Burn is all about?
And why we should need it, instead of just building serious business around quark?

[coinerer]

mistake, 30 ksat

I agree with you.

[georgem]

mistake, 30 ksat

I agree with you.

Oh, you mean the all time high? lol

It really depends, but I think we will see Quark go to 1$ soon.

(next few years, I am patient)

[Vlad2Vlad]

Anybody know if Max Keiser sold his entire quark position?  Would be good to know cause I heard last year that he owned quite a good chunk. 

Guess the next alt Max pumps and become a millionaire.  Or perhaps we'll get a quark 2.0.  Quark is worth a buy just for that chance.

[Vlad2Vlad]

mistake, 30 ksat

I agree with you.

Quark will go to 1$ soon. (next few years, I am patient)

If quark hits $1 it's gonna be in the next few months not next few years.  The next crypto boom should start by the latest September and if not, then nov should see a massive ETF fueled run for Bitcoin which should drive all alts.

Cheers!

[Netnox]

For those who are interested in the Proof of Burn proposal that I made: You can find the Alpha Draft of the concept on Reddit.

http://www.reddit.com/r/QuarkCoin/comments/2d5521/proof_of_burn_concept_alpha_draft/

I'm impressed with the draft, what i like about Peter is that he as an ambitious dev (or one of the devs) of this coin who is connected to the community and is a strong favour of transparency, this alone build trust.

About the slowly maturing coins aka initial phase, if i understood right 50% will be paid back monthly spread into 5 years. Lets say someone needs his 50% or a major part of it, is it possible to request? Adding community fund of 20% makes 70% of the fund stored away. Wouldn't this 70% hold some off from investing/burning despite the issues it can solve?

Well yes, this is a deterrent to speculants and that is fully intended because while it reduces liquidity for a certain period it allows long term planning: as i wrote in the draft, this has zo be understood like a contract between all participants to not dump their holdings. If it could be hedged as proposed by Josh the sense would be undermined in a way and give way to speculation. Just my opinion on it.

I see, fair explanation. Overal looking forward to this

I could imagine those who burn would want to know if their investment is safe hands. I know this is legit but would appreciate if you could explain on that? and also if someone would want to request funds for personal reasons how would that go?

Yeah, I am by no means advocating the hedge...I was just exploring the implications. QuarkFx is correct it will cause way too much volatility compared to the benefits.

Basically, burners just have to trust the reputation of the people creating the new coin...same as any other coin that does PoB or IPO. Hopefully, with Quark veterans behind the project, people will trust us. After the Genesis block is mined, it will all be transparent because all the new coins will show up in your wallet, although some of them will be immature until predetermined block numbers in the future.

What do you mean by your statement "if someone would want to request funds for personal reasons how would that go?"

By the new coins showing in the wallet you mean both the slowly maturing coins of 50% + the 30%? Will the slow maturing coin be in my wallet or hold elsewhere?

By the last statement i mean, lets say i would like to have my slowly maturing coins back all at once because of personal reasons, is this possible?

[georgem]

mistake, 30 ksat

I agree with you.

Quark will go to 1$ soon. (next few years, I am patient)

If quark hits $1 it's gonna be in the next few months not next few years.  The next crypto boom should start by the latest September and if not, then nov should see a massive ETF fueled run for Bitcoin which should drive all alts.

Cheers!

If it happens this september or 2016... I don't care. Because I am patient.

[Vlad2Vlad]

If it happens this september or 2016... I don't care. Because I am patient.

I hear ya, but I'm hoping for this year simply cause until Bitcoin pops all alts will continue to go much lower.  I like the idea of buying lower but I said that last month and now I'm down another 75% nearly across the board which is a massive loss.

One more month or two of being able to buy this low would be great, though.

[georgem]

If it happens this september or 2016... I don't care. Because I am patient.

I hear ya, but I'm hoping for this year simply cause until Bitcoin pops all alts will continue to go much lower.  I like the idea of buying lower but I said that last month and now I'm down another 75% nearly across the board which is a massive loss.

One more month or two of being able to buy this low would be great, though.

So obviously the reason why all altcoins continue to go lower is because of impatient people who are in it for the quick buck and are now continuously selling and selling, and therefor creating a negative feedback loop.
But cryptocurrencies are here to stay, and even with a reduced hashrate and not so big community a coin can survive and succeed in the end.

So, I look at low prices as some form of punishment for the impatient people and reward for the patient ones.

Keep stacking quarkcoins.

[Vlad2Vlad]

If it happens this september or 2016... I don't care. Because I am patient.

I hear ya, but I'm hoping for this year simply cause until Bitcoin pops all alts will continue to go much lower.  I like the idea of buying lower but I said that last month and now I'm down another 75% nearly across the board which is a massive loss.

One more month or two of being able to buy this low would be great, though.

So obviously the reason why all altcoins continue to go lower is because of impatient people who are in it for the quick buck and are now continuously selling and selling, and therefor creating a negative feedback loop.
But cryptocurrencies are here to stay, and even with a reduced hashrate and not so big community a coin can survive and succeed in the end.

So, I look at low prices as some form of punishment for the impatient people and reward for the patient ones.

Keep stacking quarkcoins.

I agree with you in part but I think there's more going on.  Miners are having a hard time so they have to sell more and more of the coins they're mining which creates a selling begets selling environment.

Then Bitcoin looks like it's about to take off so more and more people are dumping alts to get on that train ride.

All of this, plus the impatience you mention, adds massive sell pressure.  This is why it's a good idea to drop the subsidy and max coin supply if it's possible - it will minimize the selling pressure.  

I also agree this is the time you stack as many quark and alts that you can afford.  I think one can easily make 10-100 fold more off the right alts than if they bought straight BTC.

Cheers!

[georgem]

I agree with you in part but I think there's more going on.  Miners are having a hard time so they have to sell more and more of the coins they're mining which creates a selling begets selling environment.

Then Bitcoin looks like it's about to take off so more and more people are dumping alts to get on that train ride.

All of this, plus the impatience you mention, adds massive sell pressure.  This is why it's a good idea to drop the subsidy and max coin supply if it's possible - it will minimize the selling pressure.  

I also agree this is the time you stack as many quark and alts that you can afford.  I think one can easily make 10-100 fold more off the right alts than if they bought straight BTC.

Cheers!

If you are a miner and somehow believe in the LIE that you have to sell all mined coins IMMEDIATELY then you will not be in the mining business for a long time anyway.

Imagine a world where every miner kept their coins for atleast a month before selling, and they would always ONLY sell at slightly higher prices than what the market says,... well we would see a completely different price picture.

I mine all the coins that I own, not because mining is profitable (hasn't been in a long time)... but because this is the reason why my wallets have value IN THE FIRST PLACE!

[Vlad2Vlad]

I don't mine but I can see why miners are selling right away.  They see the value keeps dropping so each one hurries to unload. 

If they were united they could stop the bleeding but they're not and there's no miners union [yet].  Just like if all the Bitcoin holders would hold and not sell on every little spike, the price would keep going up because there's a serious shortage of BTC but unfortunate the masses don't think long term and neither to they think about anyone else.

This makes them very predicable and those with lots of money to invest use it to their advantage to get even richer. On the bright side, they do greater huge buying opportunities like right now and then create huge selling opportunities when buying into a coin at a much greater price than they should. 

[Netnox]

Seriously, can someone summarize in a few words or sentences what this whole Proof of Burn is all about?
And why we should need it, instead of just building serious business around quark?

http://www.reddit.com/r/QuarkCoin/comments/2d5521/proof_of_burn_concept_alpha_draft/

[georgem]

Seriously, can someone summarize in a few words or sentences what this whole Proof of Burn is all about?
And why we should need it, instead of just building serious business around quark?

It's a new coin allowing Quarkers to leave the community without losing their share. Parts of the community have no interest on working on quark anymore due to issues with lack of dev support, lack of professionalism from kolin and some quark flaws which are hard to fix. I myself will lose $140k on quark if i would sell now and the mentality of "don't worry guys price will go up next Bitcoin bubble" is just wrong and not guaranteed at all. It could happen but it goes for all alts including the coin these guys working on.

I think max is now much more active than before, so "lack of dev support" shouldn't be a problem anymore, yes?

Lack of professionalism from kolin? Who cares about his antics. Last time I checked the quarkcoin logo, his face isn't on it.

What are those "quark flaws" you are talking about? Can you be more specific. Low hashrate is NOT a problem of the protocol. Low price isn't either.

Other than that, I agree with you... just hoping that QRK will rise in an eventual next bitcoin boom is wrong. It is possible that we have no boom at all, it is also possible we have a boom without positive effect for quark too... there are many possibilites.

Ofcourse, people have to get active themselves and stop believing that they will become rich without reason. They must create a reason.
(e.g. I am working on an idea to use quark as a means of funding for software creation (I am a programmer that would take QRK)... will tell more soon, in the meantime enjoy my GIFS)

[digitalindustry]

Investors are already "rewarded" buying up to 3000 sat.

+1

Exactly.

I am happy about the low price now, and I know that this opportunity will soon disappear, and prices will soon rise again.

Why are some crypto people so impatient? And make all kinds of strange manipulative plans and intrusive demands?

This baby is about a year old, for crying out loud!!!

Let it grow!

There is no better indicator of a coins value than the free market.
Quark has a low value because it deserves it.
That's what you call price discovery, that is the exact price that quark deserves now.
Quark's price will grow when people use it for serious business. (I have some plans myself)
And only then.

So help create serious business, NOT this kind of shady protocol manipulation that would make the FED proud of you.

I'm impressed with the draft, what i like about Peter is that he as an ambitious dev (or one of the devs) of this coin who is connected to the community and is a strong favour of transparency, this alone build trust.

I invest in cryptocurrencies so I DON'T NEED to trust other people IN THE FIRST PLACE.
Seriously, can someone summarize in a few words or sentences what this whole Proof of Burn is all about?
And why we should need it, instead of just building serious business around quark?

the voice of sanity, (will be subsequently ignored)

To be fair Georgem, it is their job , they failed Uni and have huge debts, so now they troll the internet and get thrown a trinket from their masters every now an again, (kind of like the winged monkeys Vermin Supreme talked of) (forget the phoney vote for the pony)

patience is not a virtue when your house is on fire.

[digitalindustry]

I don't mine but I can see why miners are selling right away.  They see the value keeps dropping so each one hurries to unload. 

If they were united they could stop the bleeding but they're not and there's no miners union [yet].  Just like if all the Bitcoin holders would hold and not sell on every little spike, the price would keep going up because there's a serious shortage of BTC but unfortunate the masses don't think long term and neither to they think about anyone else.

This makes them very predicable and those with lots of money to invest use it to their advantage to get even richer. On the bright side, they do greater huge buying opportunities like right now and then create huge selling opportunities when buying into a coin at a much greater price than they should. 

i will be personally happy if more than 10 million are unloaded at this price because it will never go back to the original owners, lets not forget the key markets in China and Russia, this is effective distribution.

there are information tiers - the mining tier the 6 month tier ( which have both now past)

then we move on to the first information tier level, that's us and we are definitely not the same group as the mining + 6  months tier.

1st Tier (you are here now) - is chaos and development, the "extreme insiders" and the future market pioneers.

2nd Teir will come with hardware wallets - (this should also accompany trending) (and will be the longest by far) (the fiat economy "collapses" here)

3rd tier is - "normalization" then "competition" (this is the tier when Quark has real competition with possible "sovereign" crypto)  Volatility will come back here to a degree.

[Y3llowb1ackbird]

For those who are interested in the Proof of Burn proposal that I made: You can find the Alpha Draft of the concept on Reddit.

http://www.reddit.com/r/QuarkCoin/comments/2d5521/proof_of_burn_concept_alpha_draft/

I'm impressed with the draft, what i like about Peter is that he as an ambitious dev (or one of the devs) of this coin who is connected to the community and is a strong favour of transparency, this alone build trust.

About the slowly maturing coins aka initial phase, if i understood right 50% will be paid back monthly spread into 5 years. Lets say someone needs his 50% or a major part of it, is it possible to request? Adding community fund of 20% makes 70% of the fund stored away. Wouldn't this 70% hold some off from investing/burning despite the issues it can solve?

Well yes, this is a deterrent to speculants and that is fully intended because while it reduces liquidity for a certain period it allows long term planning: as i wrote in the draft, this has zo be understood like a contract between all participants to not dump their holdings. If it could be hedged as proposed by Josh the sense would be undermined in a way and give way to speculation. Just my opinion on it.

I see, fair explanation. Overal looking forward to this

I could imagine those who burn would want to know if their investment is safe hands. I know this is legit but would appreciate if you could explain on that? and also if someone would want to request funds for personal reasons how would that go?

Yeah, I am by no means advocating the hedge...I was just exploring the implications. QuarkFx is correct it will cause way too much volatility compared to the benefits.

Basically, burners just have to trust the reputation of the people creating the new coin...same as any other coin that does PoB or IPO. Hopefully, with Quark veterans behind the project, people will trust us. After the Genesis block is mined, it will all be transparent because all the new coins will show up in your wallet, although some of them will be immature until predetermined block numbers in the future.

What do you mean by your statement "if someone would want to request funds for personal reasons how would that go?"

By the new coins showing in the wallet you mean both the slowly maturing coins of 50% + the 30%? Will the slow maturing coin be in my wallet or hold elsewhere?

By the last statement i mean, lets say i would like to have my slowly maturing coins back all at once because of personal reasons, is this possible?

No, it would be written into the code and unalterable except by a developer fork. The reason they mature slowly is to stabilize the coin supply and prevent massive dumping. Additionally, slow coin maturation encourages investors to stay involved with the coin for the long haul, rather than just looking for a quick pump & dump. However, you should also remember that your percentage of total coin supply will not change during the initial phase of coin distribution, so your relative Core wealth remains the same no matter how many coins have matured.

[coinerer]

No, it would be written into the code and unalterable except by a developer fork. The reason they mature slowly is to stabilize the coin supply and prevent massive dumping. Additionally, slow coin maturation encourages investors to stay involved with the coin for the long haul, rather than just looking for a quick pump & dump. However, you should also remember that your percentage of total coin supply will not change during the initial phase of coin distribution, so your relative Core wealth remains the same no matter how many coins have matured.

So, nothing will be changed, we will have 2 coins with mostly the same relations, % of supply, between owners. And we have to prevent dumping. 

We can't prevent dumping of one coin. We will have another chance to fulfill our holy duty.

Fun is here.

[georgem]

No, it would be written into the code and unalterable except by a developer fork. The reason they mature slowly is to stabilize the coin supply and prevent massive dumping. Additionally, slow coin maturation encourages investors to stay involved with the coin for the long haul, rather than just looking for a quick pump & dump. However, you should also remember that your percentage of total coin supply will not change during the initial phase of coin distribution, so your relative Core wealth remains the same no matter how many coins have matured.

But why would you want to prevent people from doing whatever the hell they want to do with their money?

This is already where you lose me.

Let the people dump, they can't dump forever... let the coins go from weak hands to strong hands.

Again: why should anyone want to prevent people from doing with THEIR money what THEY choose to do, voluntarily.

It's everybodies "god given" right to dump their money or throw it out of the window or give it away for free.

a)Why do you have a problem with this?
b)Why do you want to implement solutions that will restrict voluntary actions of people?

Seriously, from a free market perspective, this whole maneuver is horrible.

It's also not the protocols job to "encourage investors" to do anything.
This should be outside of the coin protocol NOT inside.
(Meaning: you can encourage investors anyway you like, as long as its on your free time and effort, and not some new feature of the protocol that forces us to participate if we want to or not)

Also this here...

...so your relative Core wealth remains the same no matter how many coins have matured....

... sounds like protectionism. Again... WHY should your relative core wealth stay the same... That's NOT natural.

Your wealth should be exposed to market forces and not "protected" by anybody.

Seriously, stop thinking in this statist government way.