[ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread

[cryptoholic11]

Alright guys, I have to apologize for going "dark" again for the last week or two.  I had a problem with the provider for the pool server, I secured the server and in the process their monitoring tools can't connect - so what did it do?  It rebooted the server repeatedly.  So I have been working on repairing it and will get it up and going again shortly.  I have done some payouts over the past week but there are still a lot in the backlog, those will go out tonight.  Thank you for your exceptional patience! (and remember, I do these entirely manually by cutting and pasting from a bunch of Excel spreadsheets!)

In bigger news...

We are going to reinvent Particle as a Proof-of-Stake coin called Particle X.  This time I want to have the background and supporting materials ready to go before we pull the trigger, but here are some details:

Particle X will be a Proof of Stake coin with X11.  There will be a 2 week period of PoW mining before it becomes pure PoS.

I am leaning towards 250M total coins.  The coins will be split.  175M of Particle X coins will be mined and reserved for a coin swap for PRT (just like Saturncoin did, with an Exodus address that we can track and a script to automatically do the swap), at a 4:1 ratio.  The remainder will be PoW mined on the pool.    We could also consider doing half and half, with 350M total coins.

I think having another PoW phase is important to generate some publicity and community interest again and get the miner's more active.

Particle X will have a 5 minute PoS modifier interval and the same fast transaction processing that we enjoy with PRT today.

I am leaning towards 3%/year proof of stake but I am open to suggestions from you.

I'm working on a lot of stuff and it is a little overwhelming for one person, I will give it a few days before I finalize the code for PRTX and am happy to consider suggestions for the parameters.  What we want is a coin that is fast, attractive, with a good long term economic model, that builds value for the investors and doesn't erode it, and that I can use as a platform to build all of these great things on top of it like Particle Shares (yes, that site is complete and will go live with PRTX).

What does PRTX mean for the android wallet?  Proof of stake coins are hard to make android wallets for, I don't know of anyone who has completed one yet.  For mobile payments and integration with the payment service/Proof-of-Sale system I think we will have to go the online wallet route.  This is something we can leverage the exchange infrastructure, payment site, and PRT .Net code altogether to accelerate building it.  There are a couple of sites out there that provide this service as well that we can look into getting added to.

For the PRTX Qt wallet I have taken Snotty's design from the .Net wallet and tried to implement that look and feel as best as I could.  It will be very nice.

There is something else out of left field I think we should look into - a high end casino for PRTX.  Not a rinky dink script, but a really nice one with international translations.  If anyone knows of any resources for this please pass the info along.

So let me get the pool server sorted out and the payouts out.  Mine as many PRT as you can, you're going to want to be holding onto them to swap out.  And then I will get all of the materials together and published for PRTX.

I am open to any suggestions on the PRTX parameters.  China is our biggest market and userbase, so any feedback on what configuration would be most attractive would be very helpful.

moonmoon , i think PRTX is really a good idea , exellent work !
i think 250M is fine and the ratio is OK ,but as you know there must be some coins disappeared and some holders dont do the swap , then what happen to the rest of PRTXs after the swap ? i suggest we make a deadline to the swap , and do the swap in ratio which depends on the amount of the swap PRT .
also , what will happen to those swapped PRT ? destroyed or still keep alive ?
finally IMO the 3% POS is too low , how about make it 5%? just my opion 
cascorp from China 

Hi, cascorp , I don't agree with you "make a deadline to the swap" .
 "make a deadline to swap" will hurt it's previous investors , some investors just bought PRT and save them in wallet , they believe the long time development , They doesn't open their PC to check news frequently. If they miss swaping for PRTX within deadline , all their PRT will be worthless . That's not fair for them .
" make a deadline to swap"  is very dangerous and complicated .
People hold PRT have the right to swap PRTX at any time , that's their right . and that doesn't affect the PRTX .

+ 100

I have quite a few PRT on various exchanges and my wallet, and I don't check these forums all too often. I guess I would be one of those recreational investors. In fact I just made a bitcointalk account today, and I randomly decided to read this thread. So as an investor I could have easily missed this announcement and all my coins would have gone to waste. I am a huge fan of this coin and wallet, and perhaps upgrading to PRT X is a nice idea, but it sure is unfair to give investors a deadline to swap coins. I am sure many more investors are in my shoes (not very active in these forums and don't stay tuned to crypto news on a daily basis or weekly basis) and would just feel screwed over in the end. Also, how would we swap our coins? Through exchanges? Excuse my newbness.

[moonmoon]

+ 100

I have quite a few PRT on various exchanges and my wallet, and I don't check these forums all too often. I guess I would be one of those recreational investors. In fact I just made a bitcointalk account today, and I randomly decided to read this thread. So as an investor I could have easily missed this announcement and all my coins would have gone to waste. I am a huge fan of this coin and wallet, and perhaps upgrading to PRT X is a nice idea, but it sure is unfair to give investors a deadline to swap coins. I am sure many more investors are in my shoes (not very active in these forums and don't stay tuned to crypto news on a daily basis or weekly basis) and would just feel screwed over in the end. Also, how would we swap our coins? Through exchanges? Excuse my newbness.

I think the concern was over how open ended it would be.  The swap is done by sending your PRT to a special PRT exodus address.  A script then sends PRTX back to your PRTX address.  Have to write up all the details, but essentially your address stays the same, you export/import your private key from old to new and we run a bot that does the swap.  On the one hand having a deadline would make sure unclaimed coins aren't just sitting out there forever, on the other it is an issue for folks who are long term holding and don't check up on news or run the wallet very often so they might miss a broadcast message.  The Exodus addresses will be public and trackable so I don't think we have to worry about unclaimed coins disappearing into the ether.  I think we will be able to do this pretty smoothly.

[cryptoholic11]

thanks for the heads up. Looking forward to the release.

[make91526]

Alright guys, I have to apologize for going "dark" again for the last week or two.  I had a problem with the provider for the pool server, I secured the server and in the process their monitoring tools can't connect - so what did it do?  It rebooted the server repeatedly.  So I have been working on repairing it and will get it up and going again shortly.  I have done some payouts over the past week but there are still a lot in the backlog, those will go out tonight.  Thank you for your exceptional patience! (and remember, I do these entirely manually by cutting and pasting from a bunch of Excel spreadsheets!)

In bigger news...

We are going to reinvent Particle as a Proof-of-Stake coin called Particle X.  This time I want to have the background and supporting materials ready to go before we pull the trigger, but here are some details:

Particle X will be a Proof of Stake coin with X11.  There will be a 2 week period of PoW mining before it becomes pure PoS.

I am leaning towards 250M total coins.  The coins will be split.  175M of Particle X coins will be mined and reserved for a coin swap for PRT (just like Saturncoin did, with an Exodus address that we can track and a script to automatically do the swap), at a 4:1 ratio.  The remainder will be PoW mined on the pool.    We could also consider doing half and half, with 350M total coins.

I think having another PoW phase is important to generate some publicity and community interest again and get the miner's more active.

Particle X will have a 5 minute PoS modifier interval and the same fast transaction processing that we enjoy with PRT today.

I am leaning towards 3%/year proof of stake but I am open to suggestions from you.

I'm working on a lot of stuff and it is a little overwhelming for one person, I will give it a few days before I finalize the code for PRTX and am happy to consider suggestions for the parameters.  What we want is a coin that is fast, attractive, with a good long term economic model, that builds value for the investors and doesn't erode it, and that I can use as a platform to build all of these great things on top of it like Particle Shares (yes, that site is complete and will go live with PRTX).

What does PRTX mean for the android wallet?  Proof of stake coins are hard to make android wallets for, I don't know of anyone who has completed one yet.  For mobile payments and integration with the payment service/Proof-of-Sale system I think we will have to go the online wallet route.  This is something we can leverage the exchange infrastructure, payment site, and PRT .Net code altogether to accelerate building it.  There are a couple of sites out there that provide this service as well that we can look into getting added to.

For the PRTX Qt wallet I have taken Snotty's design from the .Net wallet and tried to implement that look and feel as best as I could.  It will be very nice.

There is something else out of left field I think we should look into - a high end casino for PRTX.  Not a rinky dink script, but a really nice one with international translations.  If anyone knows of any resources for this please pass the info along.

So let me get the pool server sorted out and the payouts out.  Mine as many PRT as you can, you're going to want to be holding onto them to swap out.  And then I will get all of the materials together and published for PRTX.

I am open to any suggestions on the PRTX parameters.  China is our biggest market and userbase, so any feedback on what configuration would be most attractive would be very helpful.

moonmoon , i think PRTX is really a good idea , exellent work !
i think 250M is fine and the ratio is OK ,but as you know there must be some coins disappeared and some holders dont do the swap , then what happen to the rest of PRTXs after the swap ? i suggest we make a deadline to the swap , and do the swap in ratio which depends on the amount of the swap PRT .
also , what will happen to those swapped PRT ? destroyed or still keep alive ?
finally IMO the 3% POS is too low , how about make it 5%? just my opion 
cascorp from China 

I feel great

[SuperBaby]

what about the launch time guys? When could we go to the NEW age?

[make91526]

I think the concern was over how open ended it would be.  The swap is done by sending your PRT to a special PRT exodus address.  A script then sends PRTX back to your PRTX address.  Have to write up all the details, but essentially your address stays the same, you export/import your private key from old to new and we run a bot that does the swap.  On the one hand having a deadline would make sure unclaimed coins aren't just sitting out there forever, on the other it is an issue for folks who are long term holding and don't check up on news or run the wallet very often so they might miss a broadcast message.  The Exodus addresses will be public and trackable so I don't think we have to worry about unclaimed coins disappearing into the ether.  I think we will be able to do this pretty smoothly.

  i think 250M is fine  (250M total coins).   2% POS,Looking forward to the release.

[SuperBaby]

So if I hold PRTX in my pretty wallet, I will get POS Interest and PRT Shares Dividend

And I can also manage trading and mining issue in my wallet, am I right?

[moonmoon]

So if I hold PRTX in my pretty wallet, I will get POS Interest and PRT Shares Dividend

And I can also manage trading and mining issue in my wallet, am I right?

Yes, you are right

[Hilux74]

moonmoon, If you mean 350M is 175M PRT swap and 175M pow+pos, I don't think it's a good idea, because that means the total vol of PRTX has increased which is a very sensitive issue.

Agree 100%  That would be hurting the existing long term supporters with essentially a share dilution.  Please stick to 250M with 175M (4:1) swap + 75M POW+POS.  3-5% Annual POS rate.

*And can we please think of keeping the name Particle, not ParticleX...that sounds kind of cheesy like in 1999 when everything was suffixed with 2000.  The name ParticleX also does not pluralize very well, which I think is important for a unit of currency (ie 10 particles is nicer than 10 particleX's).

[make91526]

moonmoon, If you mean 350M is 175M PRT swap and 175M pow+pos, I don't think it's a good idea, because that means the total vol of PRTX has increased which is a very sensitive issue.

Agree 100%  That would be hurting the existing long term supporters with essentially a share dilution.  Please stick to 250M with 175M (4:1) swap + 75M POW+POS.  3-5% Annual POS rate.

*And can we please think of keeping the name Particle, not ParticleX...that sounds kind of cheesy like in 1999 when everything was suffixed with 2000.  The name ParticleX also does not pluralize very well, which I think is important for a unit of currency (ie 10 particles is nicer than 10 particleX's).

   I agree with you.

[SuperBaby]

moonmoon, If you mean 350M is 175M PRT swap and 175M pow+pos, I don't think it's a good idea, because that means the total vol of PRTX has increased which is a very sensitive issue.

Agree 100%  That would be hurting the existing long term supporters with essentially a share dilution.  Please stick to 250M with 175M (4:1) swap + 75M POW+POS.  3-5% Annual POS rate.

*And can we please think of keeping the name Particle, not ParticleX...that sounds kind of cheesy like in 1999 when everything was suffixed with 2000.  The name ParticleX also does not pluralize very well, which I think is important for a unit of currency (ie 10 particles is nicer than 10 particleX's).

But I think it's necessary to make some difference between name of old one and new one, or it would be promiscuous

[cascorp]

moonmoon, If you mean 350M is 175M PRT swap and 175M pow+pos, I don't think it's a good idea, because that means the total vol of PRTX has increased which is a very sensitive issue.

Agree 100%  That would be hurting the existing long term supporters with essentially a share dilution.  Please stick to 250M with 175M (4:1) swap + 75M POW+POS.  3-5% Annual POS rate.

*And can we please think of keeping the name Particle, not ParticleX...that sounds kind of cheesy like in 1999 when everything was suffixed with 2000.  The name ParticleX also does not pluralize very well, which I think is important for a unit of currency (ie 10 particles is nicer than 10 particleX's).

well it's true ,PRTX is too long to pronounce

[illodin]

Don't worry momooomoon will make us verry rich! 

[make91526]

hi moonmoon.I change my mind.POS 2% Best.  2%  There are about 5000000(PRTX).Too much is not conducive to price stability.  And you still have the interest system.      POS 2%   Best.Best.Best.

[jimmy1986]

hey all,

i only registered today to post on this topic.

i have quite a few particlecoin, but they are sitting on exchanges, will i need to download a wallet for the swap?

i only have a mac and the mac wallet download link doesn't work.

thanks Jimmy

[Zebedee23]

hey all,

i only registered today to post on this topic.

i have quite a few particlecoin, but they are sitting on exchanges, will i need to download a wallet for the swap?

i only have a mac and the mac wallet download link doesn't work.

thanks Jimmy

mac wallet link works from particle site, but yeah thread link needs fixing!!!!  http://www.bitparticle.com/get-a-wallet/

I support the change to X11 POS but agree The ratios must be kept fair, ie: 4:1 250 mill coins. I understand the reason for not having a deadline but leaving it openended wld mean we r never sure of the total amount of coins out there!! What will happen to coins that are not swapped to the remaining balance??

[Hilux74]

I am fine with teh choice to switch to X11 but here is a bit to think about:

1) Quark vs X11 - I assume you chose X11 because there are some other coins out there that are X11 & POS to use as a guide.  Something to think about though is that the Quark algorithm is superior to the X11 algorithm in 2 ways.  The random hashing rounds of the Quark algo (as opposed to the linear X11 algo) has the benefits of increased security and provides far more asic resistance.

2) Market Differentiation - It could be beneficial to thus think of differentiating Particle(X) by being a Quark based POS currency.  As far as I know only one other coin attempted a Quark/POS design and it didn't end well as some early issues led to the developer abandoning it quite early.  That coin was Probe.  As mentioned in an earlier thread not sure why the coin had so many issues so if any of that existing Quark/POS code was borrowed it would have to be gone over with a fine tooth comb to make sure it is quality.  If ParticleX could pull off a Quark/POS hybrid it would be one more thing that separates it from the crowd.

As usual...always impressed by your hard work Moonmoon.  Looking forward to the future.

GO PRT!

[readysalted89]

hey all,

i only registered today to post on this topic.

i have quite a few particlecoin, but they are sitting on exchanges, will i need to download a wallet for the swap?

i only have a mac and the mac wallet download link doesn't work.

thanks Jimmy

I'm a long term holder too.

Can we just leave our coins on an exchange and let them take care of the swap?

I assume any long term holders who leave their coins in a wallet lose all their coins.

[Beezy_Z]

hey all,

i only registered today to post on this topic.

i have quite a few particlecoin, but they are sitting on exchanges, will i need to download a wallet for the swap?

i only have a mac and the mac wallet download link doesn't work.

thanks Jimmy

I'm a long term holder too.

Can we just leave our coins on an exchange and let them take care of the swap?

I assume any long term holders who leave their coins in a wallet lose all their coins.

I dont think that the exchanges will do the work for you.
They didnt do that when Cai swapped to CaiX - So we will have to take action by ourselfes.

You got one Vote everyhour on Mintpal. Lets get Particle up.
https://www.mintpal.com/voting#PRT

[Zebedee23]

hey all,

i only registered today to post on this topic.

i have quite a few particlecoin, but they are sitting on exchanges, will i need to download a wallet for the swap?

i only have a mac and the mac wallet download link doesn't work.

thanks Jimmy

I'm a long term holder too.

Can we just leave our coins on an exchange and let them take care of the swap?

I assume any long term holders who leave their coins in a wallet lose all their coins.

I dont think that the exchanges will do the work for you.
They didnt do that when Cai swapped to CaiX - So we will have to take action by ourselfes.

You got one Vote everyhour on Mintpal. Lets get Particle up.
https://www.mintpal.com/voting#PRT

It is a possibility, im 99% sure allcoin did it with beecoin when they swapped to V2