[ANN] Sprouts🌱(SPRTS) - Revival Cryptocurrency with Hardfork [PoW/PoS]

[lordgoth]

Hello,

I have read the whitepaper. And although you have redirected questions to the Discord I am going to send them here, because our communication started on here.

To keep everything open and transparant I think it is good to have all answers out in the open.

I think the following questions will be similar to those of other members of the Sprouts community and therefore important to have answered with most detail.

1) You mention that you will first have a round of questions and then will have a community vote. Where will this community vote be held? Is this community vote open/accessible for all people of the Sprouts Community? Is the vote binding (so, if the community says "no" will the hard fork be cancelled)?

2) An hard fork means you will be forcing everyone holding Sprouts to get onto the new chain. Otherwise they will lose connection and will not be able to trade their Sprouts. How will you make certain this information is wide spread? How will you make certain that there will not be confusion on which Sprouts are on the hard fork chain and which are not? Worst case scenario people will buy old Sprouts on one exchange, that is not affected by hard fork implementation. Conclusion: buying a coin that is not officially tradeable as Sprouts.

3) I do not think the new reward is fair.
Scenario: someone sets up 1 million accounts with each 1000 Sprouts. This would mean someone will have more accounts trying to win the reward. However someone with 1 account with 1 billion Sprouts has the higher probability you could ask yourself if there is enough certainty to say the network will stay as fair. I do not feel it is fair that someone with 1 dollar investment can reach the same amount of reward as someone with 1 million dollar investment. I understand the probability is higher, but PoS (proof of stake) originally works: the more you hold, the higher the stake, the higher the rewards.

4) From the whitepaper I still do not have a clear idea how Sprouts dev team is going to create this high of a demand to pump 8 trillion Sprouts around. It is already hard enough for coins with 100 billion supply to increase value. And these coins normally have millions of funds allocated to marketing, research, etc.. How is Sprouts going to accomplish their goals with this big of a disadvantage?

5) You even state in you whitepaper that Sprouts will be worth more. I do not see this happening, not significantly anyways, without significantly lowering the supply. Supply and demand. There is far to much supply and far to little demand. In line with question 4, from an economical standpoint how does the team approach such matter?

Thanks for your reply.

All the best with the project.

dude... why you dont work on your project and leave sprouts why you keep making questions ? are you the original dev ? and if you are, why you havent done a single thing about sprouts in those years ? fuck jesus!

Dude ... Calm down. I think nothing wrongs with the questions here. Beside this team or that team, we are all investors right? We all need as much information as possible. I hope we won't have a fight again here.

Anyway WP looks good. For now, let focus on HF. Stop the high POS rate first, everything can be fixed later.

[lordgoth]

If we keep the current supply, forget about trading with btc or list in many markets as possible. It doesn't matter here. Think sprouts as the grass coin. I think it's perfect cheap enough to use in the event. Let focus on it, we can make the rain with 1k sprouts but I don't think you will do that with 1 btc right?  

[Megumi143]

Has anyone read the white paper what is the wallet farm on Discord they talk about ? 

[Crypto_Man1212]

Are you getting good results from your bounty campaign?

[lordgoth]

@Megumi143 Read the discord channel here, you will have the better ideal over it
https://discordapp.com/channels/398855724089868298/411880666792329216

[cryptomob]

What is proposed new APR? And, zeitcoin is at ultralow inflation APR of 0.0005% which did not bump price of it at all. Zeit is not in satoshi market.  High APR is a plus, the excessive supply is a minus. I am no programmer, and don't know if this is possible, but why not making a fork that will autoburn 90%(or some reasonable %) of supply once a year on a set date? And leave APR alone

[ducgm]

And when do you plan to get to the exchange of tokens?

[Megumi143]

My understanding the APR will not change but be capped at 10,000,00.0 million per day at Hard fork,

2 weeks later after Hardfork 5,000,000 million cap per day and on and on (read white paper.)

8 months later, the cap will be 156,250 thousand, no matter wallet balance.



But the bigger deal is they have or are creating functions like shipping and rain function

that will burn the coin .9 billion sprouts a day through the use of the functions. 

[roadhog]

If people don't get a reasonable interest rate they will just sell and move on.

If there are more coins than demand the price will drop?

We pay to sell coins we pay to post a letter why not charge a small transfer fee and burn that to reduce the total amount?

Reduce the interest rate by 50% yearly till it gets to a sustainable amount?

just a thought.

[The_Trader]

I hold some of these and loved this coin.

I have to say though I am unimpressed with the plans to fork this off, yes something needs to happen I agree but talks of forks, coin swaps etc is not the way forward for this coin.

Having read through all this it seems there are some that want to keep SPRTS as it is and others that welcome the new direction.

Why can there not be two SPRTS coins get the people in the "leave it alone" camp to take up the running of the original SPRTS and the people happy with the forks and swaps to clone out the original make the changes they feel appropriate and start the new chain as SPRTSv2 or something.

The cloned SPRTSv2 could offer a swap for those wanting to move from original version to the new version so no one will lose out and everyone remains happy.

I would personally stay on the original chain with the original SPRTS.

This is all my personal opinion of coarse and I shall watch this thread closely

TT

[m4ever]

"Sprouts had been released by former development team 3 years before. And the very high Proof-of-Stake reward rate became famous and spreaded its community."


What you read above...is what I copied and pasted from the "English" version of your website....Just the first two "sentences"  - if that is what you are going to call it.....come on...I am NOT a professional in proof reading but this is beyond the pail....YOU DO WANT ENGLISH speaking investors right?

[m4ever]

Sprouts Will Be Reborn

Sprouts had been released by former development team 3 years before. And the very high Proof-of-Stake reward rate became famous and spreaded its community. However, the value of the currency continued to be diluted during three years. Now it is called dead coin.

In January of 2018, we started an unofficial community of Sprouts in Japan with volunteers who saw a great potential in Sprouts. Even though it was a totally new community, many new holders who feel a massive potential in Sprouts are gathering in our community.

Former Team had seen our community's activity. And expecting us to get Sprouts better, they gave us the rights to administer and develop Sprouts. We are tackling the revival of Sprouts every day.

The number of the people in the community of Sprouts holder in Japan was about 10, but so far we made it over 5600 in this 3 months.

We continue to incorporate new specifications based on Peercoin, and it is under test operation. We have decided our policy on the specification of PoS reward which we plan to change within the hard fork operation. For details please read WP and check. We will decide whether to implement or not after the voting of confidence in the community.




Rather than just being a pain in the ass....I've decided to RE-WRITE the English version of the front page of the Sprouts webpage at https://sprouts-coin.org/en/ ------------------ What you see in italics above is the English version as presented by the Sprouts team to Americans and other English speakers.....to me...it simply reads horribly...indeed...what I'd like is for the Bitcointalk community to choose which version of information you would like to see presented to english speakers. I have tried to include every point made by the new team in easy to understand english...here goes.


(this would be my version of the English webpage)



Sprouts Has Been Reborn

Welcome to the new Sprouts Coin and Community - When a person thinks of sprouts, one often thinks of emergence - much like how the Sprouts Coin is in a new emergence, with a new development community based in the very active crypto community of Japan. Indeed, while the crypto coin Sprouts is not new - and is over 3 years old - the original team who lacked new development skills and vision,  has given our team in Japan the rights to administer and develop the Sprouts coin.

We are proud to do so and have grown the Japan community from just 10 individuals to over 5,600 since January of 2018. This unofficial community of Sprouts in Japan began with volunteers who saw a great potential in the usage of Sprouts, despite a very high proof of stake reward rate which has made Sprouts - literally - "the crypto coin with the most supply at over 8 Trillion" giving it a unique potential (which some saw as a burden). You can read in the White Paper how Sprouts has great usage potential because of it's greater numbers.

The new development team will continue to incorporate new specifications for Sprouts based on Peercoin - and it is already under test operation. The new development team will change the specification of the POS reward within the upcoming hard fork operation. Details are in the White Paper.




That's it...I think it reads better...open for improvements.

[The_Trader]

I might be steering towards this camp now. So far coinexchange price has not increased.

Zeitcoin did not increase in price as the research shows and they lowered the apr. A coin swap would be devastating.

I propose we change the rewards to like 100% apr or 50%, make it percentage based.

Then we increase burn functions for the coin

I've told my stream already that there's at least a 25% chance that I will dump this coin and have to move on. Less minted profits and price keeps going down? Yeah, I can't be bothered with the coin at that point.

People forget sprouts was doing fine before the proposed hardfork. My own high pos coin will not make this same mistake.

If people don't get a reasonable interest rate they will just sell and move on.

If there are more coins than demand the price will drop?

We pay to sell coins we pay to post a letter why not charge a small transfer fee and burn that to reduce the total amount?

Reduce the interest rate by 50% yearly till it gets to a sustainable amount?

just a thought.

If you dump and depending on which way this goes I may take your SPRTS from you.

TT

[m4ever]

Call it cost averaging - But...I bought today and thought I got a bargain.

[Alpa96]

Hi guys, I've downloaded the new wallet, but it won't sync up, can anyone help me?

Thanks

Make sure you give it the appropriate internet settings it needs to connect to the Internet too sync.

Hey Megumi, do I need to get nodes into a config file? I'm connected to internet all my other wallets work fine, but this one won't sync up. I'm missing something.

[Megumi143]

I might be steering towards this camp now. So far coinexchange price has not increased.

Zeitcoin did not increase in price as the research shows and they lowered the apr. A coin swap would be
devastating.

I propose we change the rewards to like 100% apr or 50%, make it percentage based.

Then we increase burn functions for the coin

I've told my stream already that there's at least a 25% chance that I will dump this coin and have to move on.

Less minted profits and price keeps going down? Yeah, I can't be bothered with the coin at that point.

People forget sprouts was doing fine before the proposed hardfork. My own high pos coin will not make this
same mistake.

If people don't get a reasonable interest rate they will just sell and move on.

If there are more coins than demand the price will drop?

We pay to sell coins we pay to post a letter why not charge a small transfer fee and burn that to reduce the total amount?

Reduce the interest rate by 50% yearly till it gets to a sustainable amount?

just a thought.

They are getting a reasonable interest rate ! If people sell they're will most likely be people who buy them.

The change should discourage dumping by people who have huge stakes ! And push the price down.

I don't think most people will be affected. It just means this will most likely be the last month you will be able

to get Sprouts at these low prices. The Dev team is creating Demand for the coin. Through discord they are

creating functions that when users use them it burns the coin. My understanding is the Demand from the coin

comes from Discord wallets according to the white paper not from people speaking high stake rates even

though the coin will still offer competive stake rates. My understanding of the white paper is they believe they

can add 20,000 new users who have wallets on  average of 100 dollars worth of sprouts. That  creates a

demand for 4trillion sprouts.

[Kingdat907]

I might be steering towards this camp now. So far coinexchange price has not increased.

Zeitcoin did not increase in price as the research shows and they lowered the apr. A coin swap would be devastating.

I propose we change the rewards to like 100% apr or 50%, make it percentage based.

Then we increase burn functions for the coin

I've told my stream already that there's at least a 25% chance that I will dump this coin and have to move on. Less minted profits and price keeps going down? Yeah, I can't be bothered with the coin at that point.

People forget sprouts was doing fine before the proposed hardfork. My own high pos coin will not make this same mistake.

If people don't get a reasonable interest rate they will just sell and move on.

If there are more coins than demand the price will drop?

We pay to sell coins we pay to post a letter why not charge a small transfer fee and burn that to reduce the total amount?

Reduce the interest rate by 50% yearly till it gets to a sustainable amount?

just a thought.


As apart of a big holder of sprouts we as a community need to help steer the dev team away from a swap as to many big holders will dumb the coin we all want the price of sprouts to jump up but we need as a community need to let the dev team know we do not think a swap is in the best interest of the sprouts coin and community and I think we can help turn the project into a great boost for the sprouts coin

[Megumi143]

I might be steering towards this camp now. So far coinexchange price has not increased.

Zeitcoin did not increase in price as the research shows and they lowered the apr. A coin swap would be devastating.

I propose we change the rewards to like 100% apr or 50%, make it percentage based.

Then we increase burn functions for the coin

I've told my stream already that there's at least a 25% chance that I will dump this coin and have to move on. Less minted profits and price keeps going down? Yeah, I can't be bothered with the coin at that point.

People forget sprouts was doing fine before the proposed hardfork. My own high pos coin will not make this same mistake.

If people don't get a reasonable interest rate they will just sell and move on.

If there are more coins than demand the price will drop?

We pay to sell coins we pay to post a letter why not charge a small transfer fee and burn that to reduce the total amount?

Reduce the interest rate by 50% yearly till it gets to a sustainable amount?

just a thought.


As apart of a big holder of sprouts we as a community need to help steer the dev team away from a swap as to many big holders will dumb the coin we all want the price of sprouts to jump up but we need as a community need to let the dev team know we do not think a swap is in the best interest of the sprouts coin and community and I think we can help turn the project into a great boost for the sprouts coin

The Dev team is not swapping the coin it's a Hardfork ! They're capping the APR not lowering it to something reasonable so that large holders stop dumping on little people who think they are going to have a huge stake because because they buy a billion or half a million.


In a month hopefully the people with large stakes will not npbe dumping on the people with smaller stakes because they're stakes will be capped !!!!!

So The dumping will stop. And know the coin was not ok before. It was being dumped on by large stake holders that have run below Zero !! It was about to become wothless and probably taken off the exchange because of greedy large wallet holders,dumping huge amounts !!!

This will stop in a few months most likely causing an increase in the price.

This will probably be the last month to buy the coin at these low prices !

For a lot of the wallets thier APR will not be a decrease. Only big wallets because of the APR cap.

So if you're staking billions a day and trillions a month thar wote  happen any more.

People will only be able to stake millions !!!! So no more dumping.

The price will most likely increase and your millions in stakeing will be worth something.

[Megumi143]

Hi guys, I've downloaded the new wallet, but it won't sync up, can anyone help me?

Thanks

Make sure you give it the appropriate internet settings it needs to connect to the Internet too sync.

Hey Megumi, do I need to get nodes into a config file? I'm connected to internet all my other wallets work fine, but this one won't sync up. I'm missing something.

You can. You can find a list of nodes on coinexchange.io

[roadhog]

Wouldn't they just reduce the stake into smaller lots and still dump.

or even just dump the lot and kill the coin,
not sure if what you are proposing will work but who knows will just have to wait and see.