[ANN] TagCoin - Multi Token Wallet and Trading Platform

[jjj0923]

root@ns500637:~/.TagCoin# tagcoind getinfo
{
    "version" : "v1.0.5",
    "protocolversion" : 1000500,
    "walletversion" : 60000,
    "balance" : 0.00000000,
    "newmint" : 0.00000000,
    "stake" : 0.00000000,
    "blocks" : 58500,
    "moneysupply" : 1065165.57709200,
    "connections" : 8,
    "proxy" : "",
    "ip" : "198.27.69.59",
    "difficulty" : 74.70105259,
    "testnet" : false,
    "keypoololdest" : 1407505132,
    "keypoolsize" : 102,
    "paytxfee" : 0.00100000,
    "errors" : ""

[1714986558]

1714986558

[tagbond]

looks like you are using the current source yes...

that last getinfo you posted does not look right...it must still be updating the data, and has not fully downloaded the blockchain..

mark

[jjj0923]

looks like you are using the current source yes...

that last getinfo you posted does not look right...it must still be updating the data, and has not fully downloaded the blockchain..

mark

mark - I used 6 of the node you had listed....

ugh!

addnode=64.251.188.18:52585
addnode=58.106.39.237:53029
addnode=99.113.26.253:2190
addnode=54.210.120.31:57757
addnode=94.23.235.201:8623
addnode=23.232.196.144:59912

[jjj0923]

root@ns500637:~/.TagCoin# tail -f debug.log
SetBestChain: new best=d23b33b6827991846e7e  height=107985  trust=833465764281  date=08/29/14 00:58:29
ProcessBlock: ACCEPTED
getblocks -1 to 00000000000000000000 limit 500
Flushing wallet.dat
Flushed wallet.dat 3ms
Flushed 9542 addresses to peers.dat  16ms
IRC got join
Added 67.187.227.171:8623 from 2604:3400:dc1:41:216:3eff:fecc:2bb3: 8 tried, 9534 new
IRC got new address: 67.187.227.171:8623
Flushed 9542 addresses to peers.dat  20ms

[tagbond]

yes, looks like the same chain i am on...height=107985, so all should be fine. Seems that it is taking a while before a PoW block is found with current diff tho...lots of PoS blocks..

[jjj0923]

yes, looks like the same chain i am on...height=107985, so all should be fine. Seems that it is taking a while before a PoW block is found with current diff tho...lots of PoS blocks..

great thanks

[ny2cafuse]

Tagmining is having issues.  Wallet wont sync.  I've got numerous connections, but it won't update the block height.

Still working on it.  Hopefully it will be running again soon.

-Fuse

[ny2cafuse]

Tagmining is having issues.  Wallet wont sync.  I've got numerous connections, but it won't update the block height.

Still working on it.  Hopefully it will be running again soon.

-Fuse

HEYO... recompiled the wallet and it's pulling blocks again.  Not sure how long until complete, but it's syncing now.

-Fuse

[tagbond]

We are just working on the Tagcoin.org website to enable direct purchases of Tagcoin for BTC (and cash if it is legal to operate wallets in your country, so this does not include USA for now), as well as buying BTC for cash via Tagcash accounts. We take the rates from vskype.com, less 5%. Should be up next week

Looking at the explorer and it seems for the last couple of days PoS Mining has won out over PoW, so all new blocks have been created that way...even more reason why we should move to 5%, so that enough coins are produced every month...

[tagbond]

Trying to work out what happened today with the blockchain - at block 108259, the PoW diff was 154, and the next block the diff dropped down to 4 and then worked it's way back up to 100+ very rapidly...however, my wallet is on the same chain, and it's still making PoS. I transferred from Cryptsy and had no problems either so they are on the same chain. I haven't restarted the tagcoin explorer for months, and that is on the same chain. So I don't think it was a fork, it just seemed that the diff just fell away to nothing and built back up almost as quickly.

Whoever mined those coins then sold them very quickly on cryptsy to someone who had a buy in for 10,000 coins at 0.000068...:-) I suspect that someone is applying a lot of hashpower to do it - it makes no difference really, as the coins need be created, but it's a bit unfair on the mining pools out there who suddenly may not be on the right chain...as I mentioned before, best thing to do is increase the PoS to 5% which will reduce the amount available for PoW. This would benefit anyone holding coins at the moment and stimulate the market somewhat. Whatever we do, eventually I need a fairly stable coin I can use to pay out rewards and affiliate fees instead of cash. I would prefer that to be Tagcoin as the branding is there...

[ny2cafuse]

Trying to work out what happened today with the blockchain - at block 108259, the PoW diff was 154, and the next block the diff dropped down to 4 and then worked it's way back up to 100+ very rapidly...however, my wallet is on the same chain, and it's still making PoS. I transferred from Cryptsy and had no problems either so they are on the same chain. I haven't restarted the tagcoin explorer for months, and that is on the same chain. So I don't think it was a fork, it just seemed that the diff just fell away to nothing and built back up almost as quickly.

Whoever mined those coins then sold them very quickly on cryptsy to someone who had a buy in for 10,000 coins at 0.000068...:-) I suspect that someone is applying a lot of hashpower to do it - it makes no difference really, as the coins need be created, but it's a bit unfair on the mining pools out there who suddenly may not be on the right chain...as I mentioned before, best thing to do is increase the PoS to 5% which will reduce the amount available for PoW. This would benefit anyone holding coins at the moment and stimulate the market somewhat. Whatever we do, eventually I need a fairly stable coin I can use to pay out rewards and affiliate fees instead of cash. I would prefer that to be Tagcoin as the branding is there...

Well I'm pretty sure it was deliberate.  As soon as tagmining forked, a miner hopped on to start hitting blocks.  He hopped off as soon as soon as he knew I was watching.  The logs show some interesting things right before he hopped on as well.  Fun times.

I'm fine with the POS change... might liven things up a bit for the old timers who are still holding.

-Fuse

[tagbond]

Well..someone out there is mining PoW to keep the diff above 100, just not via the mining pools that I know of...I think it might be worth it for me to buy a G -Black Mining Unit for $499 - 46Mhs and 1000W

http://zoomhash.com/collections/top-sellers/products/plug-and-play-46mh-s-1000w-scrypt-asic-package-door-to-door-within-5-business-days

Then at least I can dip in now and again..

[digit]

hi, i get alot of error pages on tagcash site. the new design looks good but what happen to the coins? i see add wallet but it only shows FIAT currencies now, no crypto. 

Is BTC and altcoin wallets removed now?

[tagbond]

Yes, we removed altcoins from the site as a request from the Central Bank, while we go through the process of getting our license. We will at some point add them back, just not sure when exactly. We've had our site visit from the Bano Sentral (visits by 2 people every day for 8 days straight who go though everything with a fine toothcomb) and now just awaiting the final decision. We've been pursuing this for a year now, so we are doing everything we need to do, to make it happen. We want a slice of the $20 billion of remittances per year coming into the Philippines, and to cater to the 50% of Filipinos who do not have a bank account, or the 70% that do not hold credit cards and make online shopping there grow more than it has done, due to lack of trust in payments online.

Tagcash is targeting the digital wallet (Philippine Peso mostly), merchants payments and remittance market in the Philippines and for the rest of the world where we don't have banking or money licenses, the emphasis will be slightly different, in that the front pages will be pushing the Loyalty points and referral/affiliate system, for which we charge.

Tagcoin will be used as a method to pay out referrals and affiliates, who can exchange Tagcash points earned from advertisers and from us, into cryptocurrency. It solves a problem for us and for advertisers, especially those located outside the USA, either from the advertisers who have no banking facilities, or for the users who have no bank. To that effect, Tagcash will be buying Tagcoin on tagcoin.org, as well as exchanges. The more we pay out, the more Tagcoin we have to purchase.

[digit]

Yes, we removed altcoins from the site as a request from the Central Bank, while we go through the process of getting our license. We will at some point add them back, just not sure when exactly.

Tagcash is targeting the digital wallet (Philippine Peso mostly), merchants payments and remittance market in the Philippines and for the rest of the world where we don't have a license, the emphasis will be slightly different, in that the front pages will be pushing the Loyalty points and referral/affiliate system. We charge for that service.

Tagcoin will be used as a method to pay out referrals and affiliates, who can exchange Tagcash points earned from advertisers and from us, into cryptocurrency. It solves a problem for us and for advertisers, especially those located outside the USA, either from the advertisers who have no banking facilities, or for the users who have no bank. To that effect, Tagcash will be buying Tagcoin on tagcoin.org, as well as exchanges. The more we pay out, the more Tagcoin we have to purchase.

will i get my altcoin balances back when its reenabled?  I have some peso but not much i can do with them :\

[tagbond]

There are no more altcoin balances at the moment, at least not for residents of USA and Philippines - although all the history has been stored. If you have Pesos, I will convert them to Tagcoin for you and send to your wallet address at the rate shown on vskype.com

[Dabs]

Hi Mark,

It's been awhile, but I used to have a small amount of TAG here. I can't see now, but if you could, kindly send it to TDabswayYGFP9EwKuHughmyT55mrogWqe1

Thanks.

*edit* Site says I'm not KYC verified, but I think I should be. Can you fix that?

[beitris.dwlul]

Only one has a manual payout option. This sucks for smaller miners like me.

[Dabs]

Yes, we removed altcoins from the site as a request from the Central Bank, while we go through the process of getting our license.

The requested that? And what's up with the obscene difficulty (and thus network hash rate)?

[tagbond]

@Dabs - The BSP suggested that we remove it while we go through the process, but the BSP license has become less of an issue now, as we are doing bank to bank transfers (like Paypal) and (subject to BSP rules) for cash in we will use EC Pay for 4500 merchants including 7 11, where users can add cash in to their wallets. There won't be an option for cashout as cash unless we have the EMI License, but users and merchants can transfer Pesos direct to their bank account with no fees. We will add back the crypto wallets, but for certain countries like USA, we cannot allow those wallets to be used to transfer crypto to each other or spent in anyway, only to be withdrawn directly to a wallet. Same for any cash that appears in a Fiat wallet.

As for the high diff rate, well.. you know how it goes. Prices rise, miners jump in and mine it, and the diff also rises. Unless the price drops then the diff is not going to drop. I suspect quite a few individual miners are mining TAG now, especially in China.

As an aside, just wanted to update what we are doing with Tagbond etc..

We split the original tagbond website into 3 sites:

tagcash.com - digital wallets for cash and closed loop points in Philippines, and outside Philippines only for points based loyalty or microtransactions.

tagbond.com - our original platform for merchants to create and manage membership and rewards for their users. This also includes digital loyalty stamps which can also be used for entry stamps for clubs and gyms etc, and will have its own mobile app on iOS and Android ( I have the beta of that today if anyone wants to play with it)

tagrewards.com - this will only feature merchants and their tagverts who buy and offer TAGs (credit points, not crypto) for sharing coupons, offers, etc on social media and websites. This is a purely affiliate marketing site for promoting products and services, where users in Philippines can cash out their TAGs for real money transferred to their wallets, or outside of the Philippines will be paid in Tagcoin cryptocurrency to their external wallet. The TAGs are priced at 1 US cent for merchants to buy and can be purchased using credit cards, paypal etc, and users will be paid out at 70% of the value (tagrewards takes a 30% cut).

Our business model for Tagcash and Tagbond is based on number of transactions a merchant makes each month. Less than 100 a month, no fees - < 2,000 transactions a month, $20 per month, < 10,000 transactions per month, $50 and > 10,000 transactions is $100 per month. Transactions can be in points, cash or actions within Tagverts (like adding stamps to the loyalty stamp tagverts)


The main use of Tagcoin cryptocurrency is for us to pay out rewards where we have no banking facilities or where for legal reasons we cannot offer cash wallets (like USA and India). Other merchants can opt to the same thing if they want. As we pay out rewards in this way, we and other merchants will need to buy more and the price of Tagcoin may rise accordingly.