[ANN] [CHC] Chaincoin - Network Upgrade 16.3 - SegWit Activated

[cryptoninjapanda]

Thoughts on Random's Video Last Night

If you have the time, please see Random's video:

https://www.youtube.com/watch?v=bYRhkdOCWWg

In this video, Random explain the CHC movement as succinctly as can be.

What is at stake is bigger than CHC.  If this movement fails, it means that the model of pump-and-dump, the law of the jungle, the race to the bottom, will be the law. However, if CHC turns out to be a success, we can repeat this same approach with other low-cap coins.  

What Random is describing is a total disruption of crypto: collective action of pump-and-HODL replacing the outmoded pump-and-dump.  I strongly support this movement, not so much because I want to be rich, but rather I want to see this disruption happen.

Caveat emptor: I love Random, it is hard not to. However, I think Random is being a little melodramatic by describing this as an epic battle between the little guy and the whales.

Random believes that this is war and that the price of CHC is being pushed down by forces that are threatened by this movement.  I suspect something simpler is in play: CHC movement doesn't (yet) have control of enough CHC to influence the price. The market cap is (was) too big. and there weren't enough of us to lock up enough CHC to control the price.

However, now that CHC is down sharply, we have the opportunity to get control of a lot more CHC and get the coin locked up master nodes.

As Random suggested, now is a great time for everyone to get at least one node.  It is reasonable right now (the price seems to be stabilizing) at about $1,000/node.  

Except what you are talking about is exactly what the pump and dumpers do.   They manipulate the price until they want to make their money.   Masternodes don't print money they print chaincoins which means you're just taking out a dividend from the money that has been invested into the coin.  None of the coins actually produce any value to anyone they just create a new little pool that value collects in until it doesn't anymore.  The value comes from the fiat currency that has been invested in it either through another Crypto or if the coin is big enough directly from Fiat.   The value is still created by all the countries of the world that print the money and trade it for real world goods.  The only thing that is being attempted here is to try and attract as much value to the coin and then act like you have that value locked up in masternodes.  The problem is the money can flow back out just as quickly and easily as it flowed back into the coin.   A masternode can be tore down faster than it can be created and even if it is left to run the value is just slowly being drained from the pool.  Unless there is some value to the coin there is no reason for money to flow back in.

Bitcoin is as big as it is because it has been building for years and has been used as an actual currency for real world goods.  Millions and probably billions of dollars for goods have traded hands using BTC.  The blackmarkets traded HUGE amounts of capital for things that would never have been able to be transferred without it.  If Chaincoin could be positioned where it was used for something like that then yes value could be sustained, but without it then it is just a place to store some value and very unstable, unproven one at that.  I mean if the only thing you are trying to do is control supply then hard fork and trade 10:1 coins and boom you accomplished your task.  At least then the supply would actually be constrained.  With masternodes it is no different than PoS honestly.  Anyone can empty their masternode at any time and dump it on the market.

Before coin has a real life use like payment and similar its value is primarily determined by the number of people that support it and are actively using it. Chaincoin has grown incredibly over the past two weeks from 500 to 2100 people in official slack Hodl movement has additional 2000+ people on discord. Coin has 2070 masternodes and the number is growing by approx 100 nodes daily. Reason is that they are much more profitable then nodes of coins where 50% of the coins has been locked in nodes already.

Masternodes are not staking and they can't be even compared with staking. Over 2 million coins are currently locked in masternodes and the number is growing because it is so profitable. No one is going to take coins out of his masternode because it generates passive income. It just can't be compared with staking I am not sure how you even got the idea that these things are even comparable.    

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[sotarules]

Thoughts on Random's Video Last Night

If you have the time, please see Random's video:

https://www.youtube.com/watch?v=bYRhkdOCWWg

In this video, Random explain the CHC movement as succinctly as can be.

What is at stake is bigger than CHC.  If this movement fails, it means that the model of pump-and-dump, the law of the jungle, the race to the bottom, will be the law. However, if CHC turns out to be a success, we can repeat this same approach with other low-cap coins.  

What Random is describing is a total disruption of crypto: collective action of pump-and-HODL replacing the outmoded pump-and-dump.  I strongly support this movement, not so much because I want to be rich, but rather I want to see this disruption happen.

Caveat emptor: I love Random, it is hard not to. However, I think Random is being a little melodramatic by describing this as an epic battle between the little guy and the whales.

Random believes that this is war and that the price of CHC is being pushed down by forces that are threatened by this movement.  I suspect something simpler is in play: CHC movement doesn't (yet) have control of enough CHC to influence the price. The market cap is (was) too big. and there weren't enough of us to lock up enough CHC to control the price.

However, now that CHC is down sharply, we have the opportunity to get control of a lot more CHC and get the coin locked up master nodes.

As Random suggested, now is a great time for everyone to get at least one node.  It is reasonable right now (the price seems to be stabilizing) at about $1,000/node.  

Except what you are talking about is exactly what the pump and dumpers do.   They manipulate the price until they want to make their money.   Masternodes don't print money they print chaincoins which means you're just taking out a dividend from the money that has been invested into the coin.  None of the coins actually produce any value to anyone they just create a new little pool that value collects in until it doesn't anymore.  The value comes from the fiat currency that has been invested in it either through another Crypto or if the coin is big enough directly from Fiat.   The value is still created by all the countries of the world that print the money and trade it for real world goods.  The only thing that is being attempted here is to try and attract as much value to the coin and then act like you have that value locked up in masternodes.  The problem is the money can flow back out just as quickly and easily as it flowed back into the coin.   A masternode can be tore down faster than it can be created and even if it is left to run the value is just slowly being drained from the pool.  Unless there is some value to the coin there is no reason for money to flow back in.

Bitcoin is as big as it is because it has been building for years and has been used as an actual currency for real world goods.  Millions and probably billions of dollars for goods have traded hands using BTC.  The blackmarkets traded HUGE amounts of capital for things that would never have been able to be transferred without it.  If Chaincoin could be positioned where it was used for something like that then yes value could be sustained, but without it then it is just a place to store some value and very unstable, unproven one at that.  I mean if the only thing you are trying to do is control supply then hard fork and trade 10:1 coins and boom you accomplished your task.  At least then the supply would actually be constrained.  With masternodes it is no different than PoS honestly.  Anyone can empty their masternode at any time and dump it on the market.

You know I've been thinking about this a lot: when a masternode mines a new CHC, what happens?  As you mentioned, it isn't like "value" just gets created out of nowhere.  But this is very similar to what happens in fiat with fractional reserve banking (when people borrow from banks, it creates more cash out of nothing). What is important is the psychological effects: it is necessary for enough people to believe that the new CHC has value.  So long as CHC aren't being created willy-nilly, then the new CHC has value because there isn't price inflation.  But ironically, everything boils down to belief.

This means that the success or failure of CHC is really more a matter of what goes on in our heads than we would like to admit.  Max has been stressing this point: we have to stay strong in our own minds and visualize the future that we want.  This is the key to most endeavors (Max mentioned golf is very much about visualization).  We have more power than we think.

[cryptoninjapanda]

hi,
had the masternode setup correctly with max's tutorial for vps via putty.
returns successfully started etc with correct 1000 balance.
after 3 days i didn't receive any reward.
decided to send it back to my pc wallet that did work with the masternode just meant 24/7 on time i don't mind.

''chaincoind sendtoaddress '''' 1000''
command returned insufficient funds which i thought was odd.
so i decided to get help and asked online. someone suggested
''chaincoind masternode stop''
once i entered that the the program stopped responding to any commands,
shut it down then restarted putty with my user and password.
returns :
''Last failed login: Fri Jul 21 14:39:28 UTC 2017 from 61.177.172.14 on ssh:notty
There were 1097 failed login attempts since the last successful login.
Last login: Fri Jul 21 13:37:59 2017 from 134.226.124.52''
after this if i try any command to check balance etc nothing happens.

question is now what did :
''chaincoind masternode stop''
do to my server if it even is a proper command.
also is there anything i czn do or have i lost 1000 chc?


100 chc reward for successfully retrieval of the coins.
thanks

Roli  explained the procedure of retrieving the coins to someone on slack few hours ago. Here is copy/paste

Code:

roli 
[6:31 PM] 
Withdrawing funds from a Linux masternode:

1. Stop the master node

  Type:

  chaincoind masternode stop

  (It might take a while, if it doesn't come back to your prompt, press Ctrl+C to get your prompt back)

2. Stop the daemon

  Type:

  chaincoind stop

  (It might take a while, if it doesn't come back to your prompt, press Ctrl+C to get your prompt back)

3. Ensure daemon is not running in the background

  Type:

  top

  (Find chaincoind in the column on the right and make a note of the number under the PID column)

4. If your chaincoind was in the top list, you will need to kill the process.

  Type:

  kill -9 <PID>

  where you replaced <PID> with the PID number you noted from step 3.

5. Edit your configuration file to disable the masternode

  nano ~/.chaincoin/chaincoin.conf

  (Change masternode=1 to masternode=0)
  (Save file with Ctrl+O then Ctrl+X to exit)

6. Start your daemon

  Type:

  chaincoind --daemon

  (Wait for it to start up by typeing "chaincoind getinfo" until you get a response)
  (You can see your balance from the getinfo command output)

7. Send your coins

  Type:

  chaincoind sendtoaddress <address> <amount>

  (Confirm on the receiving size that you got your coins)

You really should join slack for support now there are so many people someone will help you in no time.

[cryptoninjapanda]

...

...

If you look closer at the release, you will see what I and others have said above.  Its extremely minimal code changes, if anything its full of swaping DASH/Darkcoin for Chaincoin text and images.

Those 7 commits consisted of fixing typos, changing the build numbers, adding more seeds, and 3 very small bug fixes where the developer only changed the sequence of events.

These changes could be completed in 10 minutes by any competent developer.  Before this so called 'release' the code development has been practically non-existent.


You said that they are preparing for Bittrex? I hope you realize that the Bitrrex goal was in their Q2 goals.  They have not met any of the Q2 goals, now the end of Q3 is approaching and progress still has not been made.

The 3-4 Devs you talk about also arent pushing much code... They promised the Masternode update V. 0.12 to be released in Q2.  Again, Q3 is almost over and the update is still not complete.

----------------

You talk about the team being busy? What are they doing?

- They have no white paper (WHAT??!)

- They have no backup to their website

- Their twitter has been dead (Until they JUST created a new one this past week)

- Their blog has been dead (and probably still is)

- Their 'lead dev' @Roli has been silent

- They rarely release any announcements, the only announcements i have seen is to stand by for more announcements...

Where is the progress???  What has been accomplished in 2017 for CHC development?  Practically and virtually nothing


This coin appears to be mostly dead, with some random new-recruits from the community who will attempt to revive it.
 

Chaincoin works and it is very stable transactions are almost instant. There are no major bugs with the coin or wallet. With all the hype with masternode coins I bought into many of them and many of them have major bugs. Their wallets crash or have some other major network issues. Chaincoin is solid and maintained.

You are making a mistake of not acknowledging that HODL movement happened. CHC before and after HODL movement is not the same coin. It now has a huge community of masternode owners and HODLers behind it. Number of masternode owners is probably only second to Dash. Yes it has the potential of becoming masternode coin number 2 easily. It actually was no2 mn coin for a while it had bigger market cap than PIVX.

And for devs they are very active they chat to people on slack even Roli is very active. And there are new people in the core team like brakmic who is a huge addition to the team and very active on both slack and discord. Look at his portfolio https://stackoverflow.com/story/brakmic he is a serious dev with 20+ years of experience in software development. Simply put CHC before HODL movement and CHC after the hodl  movement is not the same coin. People have now seen where it can go and nothing will be the same ever again.

With 2100 people on slack and 2000+ people on discord coin is more alive then 95% of other coins on coinmarketcap. Frankly you sound like someone who sold at 0.05$ only to wake up next week and see that the price has gone up 100x times. I know it is hard to accept that but chaincoin has over night become a serious masternode coin. With 100 new nodes / day it will soon have more masternodes than PIVX. Price wise it has enourmous potential and if devs implement the dev fund they will have more than $30000 $ every month to put into development. Investors love the dev fund because it warrants that coin will have active development so it means even more investments. Future is very bright for this coin.

[silvermetal]

Jeez..Are you all brainwashed?
This whole story about Chaincoins and masternodes reminds me of an other scam from this same developer...

Let me think.... which coin was it...I remember!!
Zetacoin! Created by Giskard (Giskard=Rolihlahla)

Somebody wrote a whole book about this scamcoin! check it here:
https://issuu.com/zetacoinjustice/docs/zetacoin_review_web

I will quote:



Ok read it...and think what is happening in the chaincoin thread...

[cryptoninjapanda]

Jeez..Are you all brainwashed?
This whole story about Chaincoins and masternodes reminds me of an other scam from this same developer...

Let me think.... which coin was it...I remember!!
Zetacoin! Created by Giskard (Giskard=Rolihlahla)

Somebody wrote a whole book about this scamcoin! check it here:
https://issuu.com/zetacoinjustice/docs/zetacoin_review_web

I will quote:



Ok read it...and think what is happening in the chaincoin thread...

Amazing you have created a whole book just to troll the forums. Man you really got lots of free time... Copy pasting the same message just changing the name of the lead developer

 https://bitcointalk.org/index.php?topic=260031.msg20291085#msg20291085

Do you do this with every coin that you want to buy?

[amishpancake]

Jeez..Are you all brainwashed?
This whole story about Chaincoins and masternodes reminds me of an other scam from this same developer...

Let me think.... which coin was it...I remember!!
Zetacoin! Created by Giskard (Giskard=Rolihlahla)

Somebody wrote a whole book about this scamcoin! check it here:
https://issuu.com/zetacoinjustice/docs/zetacoin_review_web

I will quote:



Ok read it...and think what is happening in the chaincoin thread...

Amazing you have created a whole book just to troll the forums. Man you really got lots of free time... Copy pasting the same message just changing the name of the lead developer

 https://bitcointalk.org/index.php?topic=260031.msg20291085#msg20291085

Do you do this with every coin that you want to buy?

He wants to buy some cheap CHC Haha! My protip: Its cheap now

[tkon3]

Stockholm syndrome.

[sotarules]

Idea for CHC: Small Purchases and Dollar Cost Averaging

I don't know whether this is consistent with Max's and Random's overall plans, but I had an idea for accumulating CHC that made sense to me, and I've already started doing it.  

My idea is simple: from this point forward, I'm going to slowly and methodically accumulate CHC using some extra cash that I'm going to pull from a small inheritance that I recently received (RIP mom).  I'm definitely going to keep it small, for example I just bought 100 CHC.  My idea is to save up over time to build another masternode.

There are two key points: (1) no one knows whether CHC might be a complete failure so to protect against that I'm keeping the purchases small in the near term (2) buying over time regardless of ups-and-downs means that over the long term, I'll get the CHC at a lower average cost than if I purchased it all in a big block.

Once CHC establishes a good technical base price, I'll ratchet up my purchases to a higher level, but for now caution is in order so I'm starting slow.

I think that all HODLers might want to consider doing something like this.  The idea is to put continuous low-level pressure on the price of CHC by leeching out the coins over time.  If we all do this, calmly and without a lot of hand-waving, we'll eventually get the coin to a critical mass where the price will form a hockey stick, a sudden dramatic upswing that occurs when demand outstrips supply.  

Mean time, this continuous low-level buying pressure will support the price, hopefully enough to at least keep it steady.  Ideally, this pressure would result in steady price improvement over a long period.  Consistent price growth, even if very small, would do wonders for the HODLers morale and also attract more HODLers with long-term perspective.

[CryptoXMan]

Actually, I really want to know what is the difference between CHC masternode vs just a wallet staking coin like using PoS?  What service does the masternode provide?

[Mendeleev]

Stockholm syndrome.

I wonder if Max is still "hodling"...

 

[TimC]

Stockholm syndrome.

I wonder if Max is still "hodling"...

 

Of course he is still holding and he may have also cashed out some when it went high to recover BTC paid so you work with free CHC. Is that like the rule of crypto to buy low and then sell high getting all your BTC back plus a bit of profit and keeping a few so you can still be in the game.  If you are not playing with 'free' coins then you are doing it wrong. So then you get your 'free' coins lock them into a master node and get income for as long as you run your masternode.

CHC LOCKED IN MASTERNODES
2,078,000 (13.78%)

[Mendeleev]

Stockholm syndrome.

I wonder if Max is still "hodling"...

 

Of course he is still holding and he may have also cashed out some when it went high to recover BTC paid so you work with free CHC. Is that like the rule of crypto to buy low and then sell high getting all your BTC back plus a bit of profit and keeping a few so you can still be in the game.  If you are not playing with 'free' coins then you are doing it wrong. So then you get your 'free' coins lock them into a master node and get income for as long as you run your masternode.

CHC LOCKED IN MASTERNODES
2,078,000 (13.78%)

True.

Once he's taken his profits, he can hold the rest and not really worry if it goes back to 10 cents a piece.

That's a good point you made there.

[notbatman]

So Dash is a clone of this coin and it's worth $186 per coin?

[jhood2880]

Stockholm syndrome.

I wonder if Max is still "hodling"...

 

I guess he has shared his wallet address a few times in some videos. If that is true wouldnt be hard to find out if he is still hodling

[TimC]

So Dash is a clone of this coin and it's worth $186 per coin?

ChainCoin was first to mix 11 algos with a fair launch and then a couple of weeks later XCoin (DASH) mixed 11 algos but in a different order. XCoin and ChainCoin both faded away. Xcoin got a large instant mine. Those with that instaminded XCoin took over with a re-brand to DARK and then it got re branded again into DASH. So now ChainCoin has gotten picked up by a large community so there is no reason it can not do the same. Both were created around the same time. CRAVE was the first master node coin. Then both CHC and DASH switched over to master node around the same time. ChainCoin just took longer for it's 'take over'.


CHC LOCKED IN MASTERNODES
2,082,000 (13.81%)

[Jaerin]

Masternodes are not staking and they can't be even compared with staking. Over 2 million coins are currently locked in masternodes and the number is growing because it is so profitable. No one is going to take coins out of his masternode because it generates passive income. It just can't be compared with staking I am not sure how you even got the idea that these things are even comparable.    

It's not generating passive income!  It is generating chaincoin just like a PoS coin would do.  To get your "passive" income you have to sell the newly generated coins thereby diluting the price.  There is no money being created by the masternode process.   The only difference between PoS and masternode is you require a specific number of coins to be setup in a wallet to create the mature coins for staking in PoS it is the number of coins in any wallet that are left there long enough to mature.  Nothing is locked in and nothing is generating passive income.

[oldcoinguru]

Masternodes are not staking and they can't be even compared with staking. Over 2 million coins are currently locked in masternodes and the number is growing because it is so profitable. No one is going to take coins out of his masternode because it generates passive income. It just can't be compared with staking I am not sure how you even got the idea that these things are even comparable.    

It's not generating passive income!  It is generating chaincoin just like a PoS coin would do.  To get your "passive" income you have to sell the newly generated coins thereby diluting the price.  There is no money being created by the masternode process.   The only difference between PoS and masternode is you require a specific number of coins to be setup in a wallet to create the mature coins for staking in PoS it is the number of coins in any wallet that are left there long enough to mature.  Nothing is locked in and nothing is generating passive income.

   

It's not generating like a POS coin.  Masternodes receive a percentage of every block mined.  They don't generate coins like POS coins do.  When a miner solves a block part of that block goes to the masternodes. 

[Jaerin]

Masternodes are not staking and they can't be even compared with staking. Over 2 million coins are currently locked in masternodes and the number is growing because it is so profitable. No one is going to take coins out of his masternode because it generates passive income. It just can't be compared with staking I am not sure how you even got the idea that these things are even comparable.    

It's not generating passive income!  It is generating chaincoin just like a PoS coin would do.  To get your "passive" income you have to sell the newly generated coins thereby diluting the price.  There is no money being created by the masternode process.   The only difference between PoS and masternode is you require a specific number of coins to be setup in a wallet to create the mature coins for staking in PoS it is the number of coins in any wallet that are left there long enough to mature.  Nothing is locked in and nothing is generating passive income.

   

It's not generating like a POS coin.  Masternodes receive a percentage of every block mined.  They don't generate coins like POS coins do.  When a miner solves a block part of that block goes to the masternodes. 

So instead of actually saving the energy it requires the same energy to inflate the coins and instead of the miner getting the coins some person who had the coins before gets them.  It's the same but actually worse.  It has all the disadvantages of PoW and all the disadvantages of PoS.  It's like a hybrid that selects all the negative features of both....

[oldcoinguru]

Masternodes are not staking and they can't be even compared with staking. Over 2 million coins are currently locked in masternodes and the number is growing because it is so profitable. No one is going to take coins out of his masternode because it generates passive income. It just can't be compared with staking I am not sure how you even got the idea that these things are even comparable.    

It's not generating passive income!  It is generating chaincoin just like a PoS coin would do.  To get your "passive" income you have to sell the newly generated coins thereby diluting the price.  There is no money being created by the masternode process.   The only difference between PoS and masternode is you require a specific number of coins to be setup in a wallet to create the mature coins for staking in PoS it is the number of coins in any wallet that are left there long enough to mature.  Nothing is locked in and nothing is generating passive income.

 

It's not generating like a POS coin.  Masternodes receive a percentage of every block mined.  They don't generate coins like POS coins do.  When a miner solves a block part of that block goes to the masternodes.  

So instead of actually saving the energy it requires the same energy to inflate the coins and instead of the miner getting the coins some person who had the coins before gets them.  It's the same but actually worse.  It has all the disadvantages of PoW and all the disadvantages of PoS.  It's like a hybrid that selects all the negative features of both....

Well DASH the #6 coin has masternodes.  In fact it's developer invented the masternode concept.  Go post your  opinion in that thread.  Have fun.