[ANNOUNCE] paccoin a new SHA256D coin is being introduced

[Rocky23]

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

[Rocky23]

Bill - you have got this coin to where it is today.  Almost exactly 4 years ago! 

We appreciate your work and contributions.  We will be in touch as move forward.

We will relaunch a new PacCoin [ANN] thread Dec 1st with the new campaign relaunch. 

The PacCoin redemption will be March 1st and the new fork's specifications will be outlined as well as the three month plan to the RCO.

visit:  http://www.paccoin.net in the meantime if you need any help with this coin.

Rock'n'Roll,

-saul

[Rocky23]

Using POS/Minting to get more PacCoins:

PacCoin has the “normal” Proof of Work (PoW) blocks of 500 coins but PacCoin also has the capability to generate new coins using what’s called Proof of Stake (PoS). Many crypto-enthusiasts don’t know what this is and how it works, so we’ll try to explain in simple terms.

Proof of stake’s real purpose was meant to secure the network. PoS is a system that rewards the coin holders for helping to secure the network. PacCoin does this by minting PoS blocks. PoS blocks are very similar to PoW blocks. The big advantage to PoS blocks is that there are no ASIC miners needed to earn them! Just secure the network and this makes a 51% attack almost impossible to achieve. You would need to have a huge amount of PacCoins at 51% as well as 51% of the hashpower to invalidate both the PoS and PoW blocks making a 51% attack VERY expensive!

Now, how do we suggest you get more PacCoins? Easy! All users with a wallet running with coins older that 30 days are able to generate new blocks. The network will generate a new block using some coins of your wallet. After the confirmations, you get your coins back plus a reward for having your coins locked to generate a new block!

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My PacCoin Address
AwnKsbyAnemNGhC6w5MEsHZdidk7iQrNtn

My BTC Address
1PWA4h9B378MX3Y3cBrkRmkL9sSedBBKYB

My Dogecoin Address
DJZmQcuPMbQuhan4ayUEdeKDnYY9FXavaJ

 

[rhasan]

Seems like I have lost a big amount of money. I wil quit Cryptopia.

[Seng Mangan]

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

I believe everything will be beautiful in time, I buy some this coins at 1 sat

[Jaycee_nl]

status update

While Cryptopia is still down with LTC and DOGE trading to any other coin including PAC, Yobit opened PAC-DOGE trading.

Please keep in mind that, due to the low price of a single PACcoin, it is not a good idea to trade PAC/BTC (as mentioned on the PACcoin website). With the current PACcoin, you can only trade against entire satoshi's, so 1 or 2 or 3 and so on. But you need to be able to trade with more accuracy (example: 1,89576).

With the new PAC coin that will be released on Feb 1, this will be possible very well since 3 zero's will dissapear.
Keep in mind that the price information on CoinMarketCap is inaccurate due to the fact that Cryptopia paused.

The PAC future insights can be found here, take a close look at page 8, this document looks very good:
https://www.docdroid.net/0PtkXDK/paccoin-future-insights.pdf

The new PAC website will be released soon.
On Jan 19, there will be a live streamed Q&A with the DEVs.
   
   

[Jcga]

Let's see how things turn in the coming weeks for this 2013 coin, interesting.


All my best to the team and supporters.

[Rocky23]

The PacCoin wallet
https://paccoin.net/paccoin-windows-wallet-installation
Using POS/Minting to get more PacCoins:
https://paccoin.net/paccoin-windows-wallet-installation
The PacCoin wallet has been designed to be user friendly for PoS minting rewards. PacCoin wallet versions 5.0 and beyond require no additional steps to mint coins, you simply generate an unencrypted wallet that you intend to leave untouched for 30 days, send the coins to the wallet, and wait with the wallet on or offline during the aging process. Once the blocks have successfully aged, connect back to the network and you will now be competing for stake.
...



Using POS/Minting to get more PacCoins:

PacCoin has the “normal” Proof of Work (PoW) blocks of 500 coins but PacCoin also has the capability to generate new coins using what’s called Proof of Stake (PoS). Many crypto-enthusiasts don’t know what this is and how it works, so we’ll try to explain in simple terms.

Proof of stake’s real purpose was meant to secure the network. PoS is a system that rewards the coin holders for helping to secure the network. PacCoin does this by minting PoS blocks. PoS blocks are very similar to PoW blocks. The big advantage to PoS blocks is that there are no ASIC miners needed to earn them! Just secure the network and this makes a 51% attack almost impossible to achieve. You would need to have a huge amount of PacCoins at 51% as well as 51% of the hashpower to invalidate both the PoS and PoW blocks making a 51% attack VERY expensive!

Now, how do we suggest you get more PacCoins? Easy! All users with a wallet running with coins older that 30 days are able to generate new blocks. The network will generate a new block using some coins of your wallet. After the confirmations, you get your coins back plus a reward for having your coins locked to generate a new block!

[Rocky23]

PacCoin POS FAQs

Frequently Asked Questions.
Here are some of the questions about the PacCoin and the POS functions in the coin’s design.

POS allows all PAC wallets to earn interest or more coins by holding them in their PacCoin wallet.

https://paccoin.net/paccoin-pos-faqs

How long before I get a POS reward?

Your coins have to be in your wallet for at least 30 days before the stake and get a reward.

Do I earn rewards when my PC is offline?

No, you need to be online for POS rewards.

What happens after the 30 days?

Every 720 hours you will receive a 7-9% reward.

Do I need to decrypt my wallet for staking ?

Yes, go to help —> Console and type walletpassphrase yourpassphrase 999999

Do I need coins in my wallet to stake ?

Yes you will need 100 coins at least for staking.

If my computer updates or reboots will I have to start over?

No, your coins age is tied to your wallet ID as long as your coins are over 30 days old they are eligible to stake or earn rewards.

Why does my computer sound so busy when staking?

PacCoin POS uses a lot of CPU when staking as it is actually creating blocks when it stakes.

How much will I get for rewards staking?

You will get around 7-9% rewards on each transaction ID in your wallet.  The more transaction ID’s you have the more your computer has to work to generate your rewards.

What if I am mining PAC? Will POS still work?

Yes, POS is a higher priority than POW so it will still work.  We don’t recommend that you mine or gen=1 PacCoin as it creates many, many small blocks of coins and transaction IDs.  Each one of these ID’s or blocks needs to be POS’d and staked just like a larger block.  The coin design lends itself to an efficiency problem where most of the work by the PAC network is wasted processing small unnecessary blocks.

When will the POS stop?

If you lock your wallet but also it stops if you make a transaction FROM your wallet to another, in which case your stake timer will reset and you need to wait again 30 days before you are eligible to receive a stake for rewards.


..
https://paccoin.net/paccoin-pos-faqs

[syauqialbaana]

guy made 1million USD off $200 from buying Verge in January and selling at 5 cents

[kondou]

guy made 1million USD off $200 from buying Verge in January and selling at 5 cents

that's huge profit

[oleksii777]

Good fellow. The main thing is to invest your money into the currency in time and then just wait for the wait. But many sell early and do not get anything.
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guy made 1million USD off $200 from buying Verge in January and selling at 5 cents

[GimoIng]

In PacCoin site there is a big warning on buying Pac on BTC/PAC market, because a little change between 1 and 2 sat on BTC market make you loose a half of your money!
In the last three days I sold my Pac for 2 sat and I buy back 1.5x coins for 1 sat, after 12-14 hours in queue list, so it is not impossible!

[GimoIng]

Here's the thing. None of you know anything about this coin. You're all just claiming it to be the "next big thing" without giving any reasoning or concrete examples as to why.

"The dev is making a fork of DASH." - Bullshit. The coin started as SHA-256 PoW and at some point was changed to PoS. DASH uses X11 PoW. You can't clone DASH's anonymity features using PoS.

There's no whitepaper for this coin.

The website is terribly written and uninformative.

The PDF contains an image of Dorian Nakomoto next to a quote by Satoshi Nakamoto. You can't get any dumber than that.

They "new community" obviously hired an inexperienced freelancer who knew nothing about crypto to rebrand the coin.

And with over 3 trillion coins in circulation, it's a total pile of horseshit. But go ahead and lose your money, if you insist.

Here there are a lot of people unqualified...I only know that in cryptoworld high volumes means money, also if it is a project without future, or a scam as you said. XVG made 100x because of a tweet!

[GimoIng]

I Second that! I placed some orders at 1sat on Cryptopia and then I was in queue. 24 hours later all my orders were filled and since "people" just bought as crazy at 2sat I just placed a sell order for that price.
36 hours later, orders still in progress and the queue for 2sat just down even to 0 or dissapeared, and then after reload again 60/70btc in queue.
Pure scam, and I believe Cryptopia is involved. I dont think an external bot is doing this, It was internally coded. For this reason they closed alt markets and "the official Paccoin page" warned about Yobit, so you trade Pac only in cryptopia.
I lost a few bucks, because of course now price is 1sat and there is a 65btc queue for sell them and "recover" my small investment.

Trade with caution, I believe this is a big scam.

Cryptopia has a lot of problems with his exchange software due to high volumes. You have to refresh page two or three times and it displays true BTC queue list.

[resinball]

wow cryptopia making the new wave of top 100 on coinmarketcap!!!  congrats PAC

[chrisbfrpky]

http://paccoinexplorer.com/richlist

And Congrats to the #1 PAC wallet for a massive ongoing reduction since PAC hit Cryptopia..........Doesn't that strike anyone else as a bit odd?

[GimoIng]

http://paccoinexplorer.com/richlist

And Congrats to the #1 PAC wallet for a massive ongoing reduction since PAC hit Cryptopia..........Doesn't that strike anyone else as a bit odd?

If you look yesterday, on Jan 7th around 14.00 you can see massive purchase.
In my opinion top 10 sold at 2 sat to buy back at 1 sat, with a huge reduction of coins on the market....I don't know who is behind that but is very interesting...we will see next days!

[MBielsa]

Markets are completely stuck right now. Any plans to have the coin listed on another exchanges?

[LEILO]

Be patient and reap the benefits soon.   🚀🚀🚀🚀🚀🚀🚀🚀🚀 $$$$$$$$$$$$$$