bottlecapper
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January 25, 2018, 08:30:43 PM |
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So do things start to look up come February for this coin? I read some of the recent posts and despite the argue about eggs and chickens is there light at the end of this tunnel?
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Magic32
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January 25, 2018, 08:50:21 PM |
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Each masternode requires 500 million old PACcoins. 500m x $0.00007=$350 000  Are you serious!? You may redeem multiple masternodes if you wish  |
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DeKingCrypto
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January 25, 2018, 09:43:19 PM |
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I want to ask one question concerning the swap. What ratio will this swap be? Because we have 3.4trillion coin and if swapped 1/100 that will give us 34billion. Now the current price is around 0.00005$ with market cap of about 170million. My question now is "after the swap, assuming it is swapped 1/100 giving us around 34billion, will the price be up to 0.005$/PAC to give us the 170million which is our current market cap?
Lets say I own 10 million PAC and the price of PAC is 1 dollar, this means I own 10 million dollars worth of PAC. After the fork the total supply of PACcoin will be reduced by 1000x this means I only have 10,000 new PACcoins.
THE PRICE OF A COIN = Total market cap / the amount of PACcoins in supply. Therefore assuming that the market cap remains the same at the time of the fork then the price of each PACcoin will increase by 1000x to 1,000 dollars to match the new supply/demand.
I will own the same slice of the pie and even though I have a reduced amount of coins. They hold the same USD value. My 10,000 new PACcoins are still worth 10 million dollars. Did this help?The question raised by @MOProgress is a very nice question. So if you say 1000:1 it mean we will have only 3.4billion then for us to get 170million market cap it means the price of PAC will be 0.05$ right? But what is the possibility that the price will start from 0.05$? |
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Santibanes
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January 25, 2018, 09:46:26 PM
Last edit: January 25, 2018, 09:59:35 PM by Santibanes |
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Thanks for the kind words, and I don't have the final say, the exchange has the final say. I don't think the patch solves anything, unless you want to mine paccoins without getting orphans.
See what these people don't understand is the point of proof of stake. (Read Peercoins whitepaper on this.) The idea of proof of stake makes so much sense.
If you own a lot of paccoin, you have a stake in it. If you don't have paccoin not so much.
Another point is Proof of Work PoW networks are subject to 51% attacks. Proof of stake (PoS) aren't. Their idea is to give miners a way to override proof of stake users. So if you implement their code, you can forget ever getting any proof of stake because the miners will overrule you, and you get nothing but orphans. They're turning paccoin on its head.
Another benefit of the current design is there is less incentive to mine paccoin, and more incentive to buy it on the exchanges. This drives up the value.
Their idea is pump and dump.
My idea is buy and HODL.
I'll leave it to the rest of you to decide which is best.
Bill, I on personal experience will help people understand what is best.
When POS coins come, confirmed by the network have more than 600 confirmations at one point become orphans, and this has been going on for a long time.
My opinion is that the code is specially registered so that coins are received by someone one and not by investors. This coin will not give you the opportunity to earn interest on POS because its code is broken and earns only those under whom the code is written.
I'm not talking about investing in a few million, I have more than 11 milliards and even I get only orphans.
And if it were not for a new team, I would not spend a cent on this coin. Proceeding from all told I will translate all in new $ PAC and I will fairly receive the percentages from master-nodes.
And your coin depreciates as it is broken and the price will depend only on the repurchase policy for the new $ PAC, I remind you that this is:
Mar 1st 2018 - Public coin redemption begins 1000: 1 PAC -> $ PAC
June 1st 2018 - 1st redemption window closes 2000: 1 ratio
Sept 1st 2018 - 2nd redemption window closes 4000: 1 ratio
Dec 1st 2018 - 3rd redemption window closes 8000: 1 ratio
photo with screenshots attachedhttps://www.imjpg.com/18/20180125134047333-p.htmlhttps://www.imjpg.com/18/20180125134325410-p.htmlhttps://www.imjpg.com/18/20180125134434015-p.html |
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erhanstein
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January 25, 2018, 09:59:31 PM |
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how do i mine this coin ?
Where can I buy it? which exchange website ?
How can I download wallet? i need link.
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wmcorless (OP)
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paccoin
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January 25, 2018, 10:02:33 PM |
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hey man, per your experience, have you heard of exchange perform this kind of "coin redemption" before? I'm digging through the web, can't find any event similar like this one
Apparently Nova Exchange offered this service before. The idea is that if a developer has a new coin and wants to end his old coin, he asks the exchange to perform the swap. As the swap goes the old coin is ended, and the new coin proceeds. The difference here is the old coin Paccoin is not going to end because I'm not letting that happen. I was told that Paccoin wasn't going to die, but when I go to the paccoin redemption site, it appears that they want to go from old pac to new pac. This is troubling because that is not what Saul told me. If Saul wants to simply offer a RCO a redemption coin offering as he calls it, so that people buy paccoin and use it to buy another altcoin such as paccoin cash, thats fine by me. But I didn't agree to him using the Paccoin name for a new coin. If he wants to call it paccoin cash and use the name $PAC again I have no problem with this. I just cant have him calling his new coin paccoin. |
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wmcorless (OP)
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January 25, 2018, 10:07:37 PM |
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how do i mine this coin ?
Where can I buy it? which exchange website ?
How can I download wallet? i need link.
You can mine by mining your own wallet. However it is difficult to get a mined block now, so we recommend you buy them. Yobit.net and Cryptopia are not up yet. I recommend tradesatoshi for now. You can download a wallet at paccoinofficial.com |
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erhanstein
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January 25, 2018, 10:14:11 PM |
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how do i mine this coin ?
Where can I buy it? which exchange website ?
How can I download wallet? i need link.
You can mine by mining your own wallet. However it is difficult to get a mined block now, so we recommend you buy them. Yobit.net and Cryptopia are not up yet. I recommend tradesatoshi for now. You can download a wallet at paccoinofficial.comI downloaded it before from paccoin.net . can i cancel it? https://wallets.paccoin.net/#windows https://www.imjpg.com/a/uploads/2018/01/25/20180125141322998.jpg |
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wmcorless (OP)
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January 25, 2018, 10:14:19 PM |
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The question raised by @MOProgress is a very nice question. So if you say 1000:1 it mean we will have only 3.4billion then for us to get 170million market cap it means the price of PAC will be 0.05$ right? But what is the possibility that the price will start from 0.05$?
These questions are for the paccoin cash redemption site. but to try to help you understand what is going on, imagine a stock split. When the price of stock goes up too high like maybe amazons stock for example that is almost 1400 per share. They could do a split and make it two shares at 700. The idea is the value cuts in half, but you get two shares instead of 1, so the cash value is the same. This I think is what saul is offering, but the opposite way. instead of taking a high priced stock and cutting it in half, he is taking a low priced coin and reducing the quantity to make the value worth more. so in theory the value would be the same, just the number of coins would be divided by 1000. that's the theory anyway. hope that helps. |
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GimoIng
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January 25, 2018, 10:15:19 PM |
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how do i mine this coin ?
Where can I buy it? which exchange website ?
How can I download wallet? i need link.
I suggest you to read some pages of this thread before buying any coin  |
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wmcorless (OP)
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January 25, 2018, 10:16:24 PM |
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Its the same thing. It takes a while to download the blockchain. |
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erhanstein
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January 25, 2018, 10:21:36 PM |
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Their file is big, it could be taking a while to download. I have the very basic files up so the download should be quick. paccoin.net is it official website ? or paccoinofficial.com ? |
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GimoIng
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January 25, 2018, 10:22:27 PM |
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GimoIng
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January 25, 2018, 10:30:30 PM |
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Each masternode requires 500 million old PACcoins. 500m x $0.00007=$350 000 Are you serious!? You may redeem multiple masternodes if you wish This coin was much more cheaper some weeks ago, it made 10000x since october 2017, now a masternode is very expensive Anyway is 35 000$ |
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wmcorless (OP)
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January 25, 2018, 10:53:26 PM |
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Bill, I on personal experience will help people understand what is best.
When POS coins come, confirmed by the network have more than 600 confirmations at one point become orphans, and this has been going on for a long time.
My opinion is that the code is specially registered so that coins are received by someone one and not by investors. This coin will not give you the opportunity to earn interest on POS because its code is broken and earns only those under whom the code is written.
I'm not talking about investing in a few million, I have more than 11 milliards and even I get only orphans.
So the reason this happened is you were staking on a fork. To understand what a fork is think of a tree. It starts as one trunk, then branches go off from the trunk. This is what a fork is. If you mine coins and your coins are on a fork, they will eventually disappear as orphans because the the wallet works its way back to the trunk. The problem is that there is a "patch" that eliminates this problem as the person says. However the reality this "patch" makes this problem worse for honest wallets. The way blockchains are supposed to work, is they start with a genesis block and every new block is added is connected to the previous one. The block height starts at 1 then 2, and so on. Every new block that is generated by Proof of Work is either accepted by the network, or it is rejected. So when two computers find a block, they submit it to the network. The network evaluates the two blocks and decides which one is correct and which one should be rejected. When a block is rejected it is orphaned. This is how even bitcoin works. However with paccoin you have the added Proof of Stake block. Miners make Proof of Work blocks (PoW), and holders of the coin make proof of Stake (PoS) blocks. Now if a miner sumbits a Proof of Work Block at a block height of 254328 for example and a Stake holder produces a Proof of Stake block at the same height of 254328, the network will decide which block is correct. With Proof of Work on Bitcoin, it is the fastest hash an the longest chain the prevails, with Proof of Stake it is determined by Coin Age. This is important. If you own a coin that has not staked and is 30 days old, and another person owns a coin that is 60 days old, if they both try to stake it will be the one with the 60 days that wins. When a proof of stake block comes through the difficulty to mine drops. Because the network's security model is not based on Proof of Work like bitcoin, you never have to worry about buying more and more powerful asic miners. Now the patch I referred to before that breakcrypto strongly endorses because it doesn't cause his mined blocks to get orphaned prevents the system above from working. What it does is it accepts both blocks, at the same height. that means there are two or more blocks with the same blockheight in his block chain. that means a new block can start growing on either one, therefore causing forks. Although there is no rewind issue for him, he may feel good that his blocks are not orphaning, the problem is it causes the rest of us to have wallets dropping out of sync. So when your wallet is in sync and suddenly it drops out of sync by 420 blocks now you know why. This did not happen until he started using his modified version. |
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GimoIng
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January 25, 2018, 10:56:36 PM |
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hey man, per your experience, have you heard of exchange perform this kind of "coin redemption" before? I'm digging through the web, can't find any event similar like this one
Apparently Nova Exchange offered this service before. The idea is that if a developer has a new coin and wants to end his old coin, he asks the exchange to perform the swap. As the swap goes the old coin is ended, and the new coin proceeds. The difference here is the old coin Paccoin is not going to end because I'm not letting that happen. I was told that Paccoin wasn't going to die, but when I go to the paccoin redemption site, it appears that they want to go from old pac to new pac. This is troubling because that is not what Saul told me. If Saul wants to simply offer a RCO a redemption coin offering as he calls it, so that people buy paccoin and use it to buy another altcoin such as paccoin cash, thats fine by me. But I didn't agree to him using the Paccoin name for a new coin. If he wants to call it paccoin cash and use the name $PAC again I have no problem with this. I just cant have him calling his new coin paccoin. Let me understand...how can Paccoin survive the swap if Cryptopia will do it for us and Yobit does not allow any withdraw? |
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Aktarus
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January 25, 2018, 11:20:06 PM |
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wmcorless (OP)
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January 25, 2018, 11:20:54 PM |
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The question I have hearing a lot lately is their coins are not staking, or that they do, and then get orphaned.
First point, Proof of Stake takes 30 days to occur .
Second Point an older coin stakes before a newer coin.
Lets say someone hasn't used their paccoin wallet in a long time, like a year.
They turn on their wallet, and it starts staking like crazy. Its because their coins have a greater coin age, they stake first.
Now you may see your wallet having nothing but orphans. This may be concerning to you, but its normal. If a coin orphans, it simply will try to stake again. Once it stakes it will take another 30 days before it will stake again.
Another way of looking at it is total deposits. You might deposit a million paccoins in your wallet on the first of the month. For all intents and purposes, I call this a coin, although it is a million coins. After 30 days you will receive a proof of stake based on the million coins. so it could be around 100,000 coins or so. and then the coin age is destroyed and you now have 1.1 million coins starting all over. After another month you'll receive about 110,000 coins and so on.
The concept of decentralization is that the network decides who gets the block reward and who doesn't. No one including me has any say on how the proof of stake reward is given.
So if you see your proof of stake orphan, don't worry, it will attempt to stake again.
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wmcorless (OP)
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January 25, 2018, 11:23:22 PM |
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If you guys keep this up, theres going to be a lawsuit, quit pretending you are paccoin. |
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Aktarus
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January 25, 2018, 11:31:19 PM |
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If you guys keep this up, theres going to be a lawsuit, quit pretending you are paccoin. Lawsuit while you said a few month ago: I've been talking with the new developers. I believe they have some great ideas, and can improve the value of the coin. So I'm going to Pass the Baton if you will and let them take the coin over. I think they can do a great job.
Bill
You will lose. You have 2 options: - You leave the project by supporting the new team, and then you will stay in the history as a hero, a pioneer - You keep raging and trying to make mess, then you will finish as a rubish in the bin of history. |
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