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Author Topic: [ANN][WEBD][CPU][POW&POS] 🌍 WebDollar - Currency of the Internet | in browser  (Read 42897 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (5 posts by 3 users deleted.)
AlexandruPanait
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September 01, 2018, 11:15:44 AM
 #921

It looks very interesting but you have to list on exchanges as soon as posible. Anyway, I will follow this thread and Discord channel as well. Btw, do you have a twitter account, guys?

Because exchange listings require many resources and we didn't had ICO we did an ecosystem exchange, here is the testnet link http://webdollar-vps5.hopto.org:8080/
After publishing the exchange we will look forward to list on other exchanges too.
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TakeItEasy
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September 01, 2018, 11:19:47 AM
 #922

Because we noticed there are few big farms mining webd instead every single person owning a pc or laptop, we are thinking now to switch from POW to a hybrid between POW and POS
Hey!
And what PoS % will we have annually ?
Don't make it too high please. 3-5% annually enough. Otherwise, the price will be very low.

I don't understand what are you meaning. The mining will be in a cycle of 2 rounds. POW round with 10 blocks and POS round with 20 blocks. That means 33,(3)% POW and 66,(6)% POS

Hm.
May be I don't understand you.
PoW - Proof of work is a mining process in which a user installs a powerful computer or mining rig to solve complex mathematical puzzles (known as proof of work problems). Once several calculations are successfully performed for various transactions, the verified transactions are bundled together and stored on a new ‘block’ on a distributed ledger or public blockchain. Mining verifies the legitimacy of a transaction and creates new currency units.

PoS - Unlike the proof of work system, in which the user validates transactions and creates new blocks by performing a certain amount of computational work, a proof of stake system requires the user to show ownership of a certain number of cryptocurrency units.
The creator of a new block is chosen in a pseudo-random way, depending on the user’s wealth, also defined as ‘stake’. In the proof of stake system, blocks are said to be ‘forged’ or ‘minted’, not mined. Users who validate transactions and create new blocks in this system are referred to as forgers.

So I mean - if I will buy 1 000 000 Webdollars, sent them to my wallet, how many WD will I have through the year ?

Also, how much is 1 000 000 WD in Telegram ?


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...
.PIRATE (ARRR)......Invisible......Anonymous......Private.
.......................................KOMODO dPoW. zk-SNARKS technology. Z-transactions only......................................
..........................WEBSITE  ⚓  DISCORDMEDIUMANNTWITTERTELEGRAMGITHUB...........................
AlexandruPanait
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September 01, 2018, 11:32:22 AM
 #923

Because we noticed there are few big farms mining webd instead every single person owning a pc or laptop, we are thinking now to switch from POW to a hybrid between POW and POS
Hey!
And what PoS % will we have annually ?
Don't make it too high please. 3-5% annually enough. Otherwise, the price will be very low.

I don't understand what are you meaning. The mining will be in a cycle of 2 rounds. POW round with 10 blocks and POS round with 20 blocks. That means 33,(3)% POW and 66,(6)% POS

Hm.
May be I don't understand you.
PoW - Proof of work is a mining process in which a user installs a powerful computer or mining rig to solve complex mathematical puzzles (known as proof of work problems). Once several calculations are successfully performed for various transactions, the verified transactions are bundled together and stored on a new ‘block’ on a distributed ledger or public blockchain. Mining verifies the legitimacy of a transaction and creates new currency units.

PoS - Unlike the proof of work system, in which the user validates transactions and creates new blocks by performing a certain amount of computational work, a proof of stake system requires the user to show ownership of a certain number of cryptocurrency units.
The creator of a new block is chosen in a pseudo-random way, depending on the user’s wealth, also defined as ‘stake’. In the proof of stake system, blocks are said to be ‘forged’ or ‘minted’, not mined. Users who validate transactions and create new blocks in this system are referred to as forgers.

So I mean - if I will buy 1 000 000 Webdollars, sent them to my wallet, how many WD will I have through the year ?

Also, how much is 1 000 000 WD in Telegram ?

Deppends. Only 66% of the coins will be mined with POS. From those with 1M webd you will have 1000000/5500000000*100 which is 0.02% chance to catch every single next block
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September 01, 2018, 12:14:04 PM
 #924

interesting project,im try to mined  cpu
TakeItEasy
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September 01, 2018, 02:36:40 PM
 #925

Because we noticed there are few big farms mining webd instead every single person owning a pc or laptop, we are thinking now to switch from POW to a hybrid between POW and POS
Hey!
And what PoS % will we have annually ?
Don't make it too high please. 3-5% annually enough. Otherwise, the price will be very low.

I don't understand what are you meaning. The mining will be in a cycle of 2 rounds. POW round with 10 blocks and POS round with 20 blocks. That means 33,(3)% POW and 66,(6)% POS

Hm.
May be I don't understand you.
PoW - Proof of work is a mining process in which a user installs a powerful computer or mining rig to solve complex mathematical puzzles (known as proof of work problems). Once several calculations are successfully performed for various transactions, the verified transactions are bundled together and stored on a new ‘block’ on a distributed ledger or public blockchain. Mining verifies the legitimacy of a transaction and creates new currency units.

PoS - Unlike the proof of work system, in which the user validates transactions and creates new blocks by performing a certain amount of computational work, a proof of stake system requires the user to show ownership of a certain number of cryptocurrency units.
The creator of a new block is chosen in a pseudo-random way, depending on the user’s wealth, also defined as ‘stake’. In the proof of stake system, blocks are said to be ‘forged’ or ‘minted’, not mined. Users who validate transactions and create new blocks in this system are referred to as forgers.

So I mean - if I will buy 1 000 000 Webdollars, sent them to my wallet, how many WD will I have through the year ?

Also, how much is 1 000 000 WD in Telegram ?

Deppends. Only 66% of the coins will be mined with POS. From those with 1M webd you will have 1000000/5500000000*100 which is 0.02% chance to catch every single next block
It's a mint probability, 0.02%. The more coins in wallet => the higher chance to get reward for the next stake block.
But I'm asking about annually stake reward, like in other Hybrid PoW/PoS coins. For example NAVcoin, it has 5% stake reward per year. It is not a 5% chance to find next PoS block.
Or it will be like in Whitecoin - "users who keep their wallet open to secure the network via staking will receive 5 XWC for each stake found as reward."
Can you give more technical details: PoS block reward, maturity for stake, etc.


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...
.PIRATE (ARRR)......Invisible......Anonymous......Private.
.......................................KOMODO dPoW. zk-SNARKS technology. Z-transactions only......................................
..........................WEBSITE  ⚓  DISCORDMEDIUMANNTWITTERTELEGRAMGITHUB...........................
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September 01, 2018, 03:23:30 PM
Last edit: September 01, 2018, 03:39:21 PM by EvlMiner
 #926

If you mint a block you get 6k WEBD. At least that's what was said on telegram.
So a lot like solo mining, but instead of hash power determining your chance to find a block, the amount of WEBD in your staking wallet will.
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September 01, 2018, 04:11:49 PM
 #927

Indeed, and the staking can also be done in Pools, so it won't necessarily be like solo if you have a small amount. You just add it with other POS miners and mine in the Pool the POS blocks together. (and you don;t need to actually transfer the WEBDs , you just join the pool with your wallet and that's it)
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September 01, 2018, 04:51:30 PM
 #928

use for a while the genesis to mine with POS (which will be ~30% from all coins mined every day) and all mined webds to be used in very big bounties campaigns using our automatic bounty system, which will lead to mass adoption.

So you want to use PREMINED coins in a POS system? This is a real theft.
This will lead to centralization (rich get richer) as currently the devs have the most WEBD.

Adding POS to a PREMINED cryptocurrency is the end of it. The devs have 1 year worth on mining funds, no one has even close to that. They want to use premined coins to mine even more (through stake).

Man, this is extremely shady.

Quote
We truly belive this is the best solution in order to reach mass adoption

LOL. Do not insult our intelligence, please.
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September 01, 2018, 08:14:05 PM
 #929

I don't like it either. The premine alone is bad enough. Staking it is even worse.
If you really need to secure the network, ok, stake it for a limited time, but make a transparent system where the coins gained from staking the premine are immediately burned.
The premine should be used for bounties, as was promised, not for creating additional coins or increasing the staking difficulty for everyone else who actually bought or mined their coins.
If you keep breaking your promises, no one will be able to trust you in the end.
And I'm saying this because I really like this project.
TakeItEasy
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September 02, 2018, 12:30:47 AM
Last edit: September 02, 2018, 01:06:20 AM by TakeItEasy
 #930

use for a while the genesis to mine with POS (which will be ~30% from all coins mined every day) and all mined webds to be used in very big bounties campaigns using our automatic bounty system, which will lead to mass adoption.

So you want to use PREMINED coins in a POS system? This is a real theft.
This will lead to centralization (rich get richer) as currently the devs have the most WEBD.

Adding POS to a PREMINED cryptocurrency is the end of it. The devs have 1 year worth on mining funds, no one has even close to that. They want to use premined coins to mine even more (through stake).

Man, this is extremely shady.

Quote
We truly belive this is the best solution in order to reach mass adoption

LOL. Do not insult our intelligence, please.

I don't like it either. The premine alone is bad enough. Staking it is even worse.
If you really need to secure the network, ok, stake it for a limited time, but make a transparent system where the coins gained from staking the premine are immediately burned.
The premine should be used for bounties, as was promised, not for creating additional coins or increasing the staking difficulty for everyone else who actually bought or mined their coins.
If you keep breaking your promises, no one will be able to trust you in the end.
And I'm saying this because I really like this project.

Agree with you. Wallet with premine should not be used for staking.
First of all, this wallet will have the highest mint probability, "rich get richer", yeah.
And if you will use this stake coins for bounties, airdrops, so on, there will be too many "free" coins and price will be 1 satoshi.

Premine was created for this purpose by itself. All stake coins from premine wallet must be burned.


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...
.PIRATE (ARRR)......Invisible......Anonymous......Private.
.......................................KOMODO dPoW. zk-SNARKS technology. Z-transactions only......................................
..........................WEBSITE  ⚓  DISCORDMEDIUMANNTWITTERTELEGRAMGITHUB...........................
Hespnakindra
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September 02, 2018, 12:33:22 AM
 #931

What kinds of marketing and promotions are you planning to do to attract merchants and customers to your platform and increase adoption? Do you think about this?
Zeneize
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September 02, 2018, 09:59:10 AM
 #932

I don't like it either. The premine alone is bad enough. Staking it is even worse.
If you really need to secure the network, ok, stake it for a limited time, but make a transparent system where the coins gained from staking the premine are immediately burned.
The premine should be used for bounties, as was promised, not for creating additional coins or increasing the staking difficulty for everyone else who actually bought or mined their coins.
If you keep breaking your promises, no one will be able to trust you in the end.
And I'm saying this because I really like this project.

It was clear a lot of time ago that those few big computer farms were mining all the coins and this would lead to a lack of decentralization, the consequence was obvious with just a bit of extrapolation, and it had been told as a warning on this thread by someone. It should have been taken care then, now it's a mess. But of course, not taking care of that could end into a much bigger damage. Great devolepers you are, for sure, but bad planners and stubborn in never listening to those who had told you about this problem time ago on this very thread, as I perfectly remember.
And I'm saying this because I too really like this project.

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AlexandruPanait
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September 02, 2018, 01:57:15 PM
 #933

use for a while the genesis to mine with POS (which will be ~30% from all coins mined every day) and all mined webds to be used in very big bounties campaigns using our automatic bounty system, which will lead to mass adoption.

So you want to use PREMINED coins in a POS system? This is a real theft.
This will lead to centralization (rich get richer) as currently the devs have the most WEBD.

Adding POS to a PREMINED cryptocurrency is the end of it. The devs have 1 year worth on mining funds, no one has even close to that. They want to use premined coins to mine even more (through stake).

Man, this is extremely shady.

Quote
We truly belive this is the best solution in order to reach mass adoption

LOL. Do not insult our intelligence, please.

It is not a theft, it is a way to put the coins in the hands of as many people as possible which don't have let say farms for POW or money to invest for POS. This is the best approach in order to reach mass adoption because POW will centralize inflation to big farms, POS will centralize inflation to big holders (which is good but can lead to centralization) And for this we're thinking to use the genesis wallets to increase bounties reward for being more attractive and profitable for influences to help us to reach mass adoption.

The mined coins with POS won't be kept by dev team. All mined coins using genesis will be distributed to our community via bounty system in order to make it more attractive. This will help even POS & POW miners because will lead to reaching mass adoption and the project will start to have more and more community devs, evangelists talking about the project which will lead to a faster growth.

I don't like it either. The premine alone is bad enough. Staking it is even worse.
If you really need to secure the network, ok, stake it for a limited time, but make a transparent system where the coins gained from staking the premine are immediately burned.
The premine should be used for bounties, as was promised, not for creating additional coins or increasing the staking difficulty for everyone else who actually bought or mined their coins.
If you keep breaking your promises, no one will be able to trust you in the end.
And I'm saying this because I really like this project.

The whole project was developed in less than one year without any funds. This is why we chose to not do ICO for let people to join due to their trust and believe in the project's target. In order to reward the main devs and community devs we decided in beginning to premine 9.9% for paying all those which helps the project to growth. Without a motivation for community devs it can be hard to grow.

For sure we will make a transparent system. It is better to use those coins from POS to reward influencers which are promoting our tech instead burning them.

The premine will be used as was promised for bounties and paying community devs. POS has a problem, and that is the richer every time gets richer. In order to obtain mass adoption we have to avoid this happening, this is why we want to use genesis to mine and the mined coins to be added to increase the bounties rewards.

We promised reaching of mass adoption and this is our main purpose. In this world there is not any single perfect system. We have to adapt on every new think which can drive away the project from mass adoption.

Thank you for your feedback and appreciations.

use for a while the genesis to mine with POS (which will be ~30% from all coins mined every day) and all mined webds to be used in very big bounties campaigns using our automatic bounty system, which will lead to mass adoption.

So you want to use PREMINED coins in a POS system? This is a real theft.
This will lead to centralization (rich get richer) as currently the devs have the most WEBD.

Adding POS to a PREMINED cryptocurrency is the end of it. The devs have 1 year worth on mining funds, no one has even close to that. They want to use premined coins to mine even more (through stake).

Man, this is extremely shady.

Quote
We truly belive this is the best solution in order to reach mass adoption

LOL. Do not insult our intelligence, please.

I don't like it either. The premine alone is bad enough. Staking it is even worse.
If you really need to secure the network, ok, stake it for a limited time, but make a transparent system where the coins gained from staking the premine are immediately burned.
The premine should be used for bounties, as was promised, not for creating additional coins or increasing the staking difficulty for everyone else who actually bought or mined their coins.
If you keep breaking your promises, no one will be able to trust you in the end.
And I'm saying this because I really like this project.

Agree with you. Wallet with premine should not be used for staking.
First of all, this wallet will have the highest mint probability, "rich get richer", yeah.
And if you will use this stake coins for bounties, airdrops, so on, there will be too many "free" coins and price will be 1 satoshi.

Premine was created for this purpose by itself. All stake coins from premine wallet must be burned.

If someone will share the project to let say 10 mil persons in his social media channel, according to bounties formula, this person will have let say 90% from the reward due to his huge impact comparing with others. Let say he will win 10 mil webd for sharing the project with 10 mil people. Do you think he will sell those coins at 1 satoshi? And if he will, there will be let say 100k new users from his posts, which will lead faster to mass adoption.

What kinds of marketing and promotions are you planning to do to attract merchants and customers to your platform and increase adoption? Do you think about this?

We have referral system and bounties campaigns which we're planning to start when everything will be ready. We want to collaborate with anyone which can help on this side because we have funds in the genesis for this.

I don't like it either. The premine alone is bad enough. Staking it is even worse.
If you really need to secure the network, ok, stake it for a limited time, but make a transparent system where the coins gained from staking the premine are immediately burned.
The premine should be used for bounties, as was promised, not for creating additional coins or increasing the staking difficulty for everyone else who actually bought or mined their coins.
If you keep breaking your promises, no one will be able to trust you in the end.
And I'm saying this because I really like this project.

It was clear a lot of time ago that those few big computer farms were mining all the coins and this would lead to a lack of decentralization, the consequence was obvious with just a bit of extrapolation, and it had been told as a warning on this thread by someone. It should have been taken care then, now it's a mess. But of course, not taking care of that could end into a much bigger damage. Great devolepers you are, for sure, but bad planners and stubborn in never listening to those who had told you about this problem time ago on this very thread, as I perfectly remember.
And I'm saying this because I too really like this project.

Yeah, we have to take care of that now, this is why we're thinking at this option. The more difficulties we will experience, the more the project becomes stronger.

For this we added to the updated roadmap the voting system for taking decisions together.

Thank you for your appreciations!
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September 03, 2018, 12:20:21 PM
 #934

where can we find the bounties, please?
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September 03, 2018, 12:40:48 PM
 #935

where can we find the bounties, please?

Here is the link http://webdollar.io/bounties but the last bounty program was only for test the software. When we will be ready to start bounty campaigns we will announce in social media.
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September 03, 2018, 01:10:54 PM
 #936

The owner of Infiniti mining pool has announced that he will be closing the pool. Please move you miners from the pool by the end of today!

Coffee Pool is accepting all new miners: https://webd.pool.coffee/pool/1/Balanel_si%20Miaunel/0.02/cd7217ad76118df5357ae7a094aa48096daae8a67767bd3acbc8638dc68955ac/https:$$webd.pool.coffee:8443
It also has optimized code for more fair payment to small miners.
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September 04, 2018, 11:57:07 AM
 #937

Seems to be perspective project. i will follow
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September 04, 2018, 12:01:02 PM
 #938

The team of this plan is very experienced I think, now when i look at them on the website.Do you plan to hire more people in the future for a full-time job? Thanks

WebDollar is not a company which is hiring people. Is an open source project. Everyone can contribute to the project and will be rewarded for that. Right now we're preparing to send 15M to the community developers and evangelists because we finished Offline transactions earlier that we planned according to our road map in order to have a high secure access to the genesis cold storage for paying Ecosystem contributors.
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September 04, 2018, 12:11:32 PM
Last edit: September 04, 2018, 12:46:51 PM by alexandru.b
 #939

De ieri seara si pana azi-dimineata la 6-7, cei de pe Webdollar Experimental Pool au minat in fork.
Mai e cel putin un pool care mineaza in fork, complet desincronizat. Infinity Pool
se desfiinteaza (erau si-asa prea multe, nu?). Si ca din PoW, algoritmul va trece la PoW + PoS in speranta
ca se va mai diminua reward-ul pe ferme. Minez webd de trei luni si vad ca INCA e cam vraiste proiectul...
Cred ca e un efort care depaseste puterile echipei. In fine, ar trebui acordata mai multa atentie minerilor,
pentru ca ei sunt cei care vor da valoare si monedelor pre-minate. Dar PR-ul lasa mult de dorit. "Anuntam in
social-media" spun membrii echipei. Care din ele? FB / Twitter / Telegram / Forum / ...? Bai baieti, stabiliti
odata un canal unic de comunicatie! Pentru ca informatiile reale de care avem nevoie practic le aflam unii de
la altii noi, minerii. Apropo de forumul webdollar.io, are bug-uri mari. Si echipa nici nu prea raspunde la
postari.

Sunt doar cateva din problemele care umbresc reusita webd...


We are one of a couple international projects which developed an entire blockchain technology from scratch. The entire source code was developed from scratch. Moreover, we developed everything with 0 funding. As Satoshi, we are holding our coins not selling them for the next XX years. PoW vs PoS. PoW is spending a lot of electricity to reward a random miner with the coins giving him the chance to mine the next block. That's all what PoW does. Nothing else. We didn't choose Proof of Work for security, but for marketing reasons. We aimed that if we do a CPU based mining coin, more and more miners will be interested to promote the project, but it looks like only a handful of people actually promoted the project for many reasons like trying to mine much for themselves and specifically not sharing with others because the competition would grow and not promoting it and many more like this.  I don't think Satoshi Nakamoto or Hal Finney (real Satoshi Nakamoto) did marketing, did talk etc. but rather the community. Even more, Bitcoin had many screw ups including an exploit that generated on main blockchain 91 billion coins read here https://www.coindesk.com/9-biggest-screwups-bitcoin-history/
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September 04, 2018, 12:20:53 PM
 #940

Yeah it's hard to make a discernable difference in today crazy competitive market. I guess its all about making the right steps regarding this idea
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