Hi, everyone
I am part of the Colossuscoin Development Team and I am hosting a Giveaway to help expand our Marketing and Promotion Team.
Post your COL address here and get 500 COL for freeTo receive 500 COL post your ColossusCoin address here (sent within ~12-36 hours)/ First 500 members.
To be eligible for the Giveaway, your Bitcoin Forum account must have been created before January 20, 2014.
One COL address per user, please (All but the first valid address you post will be ignored)
Would you like to be part of the Colossosuscoin Marketing and Promotion Team? We have several large updates over the next few weeks and will need the help of everyone to get the word out.
We will be holding many contests with prizes of who can promote Colossuscoin the most, bonuses if it makes headlines.
If you or friends of yours would like to be paid to promote sign up on
http://colossuscointalk.org/index.php?topic=301.0
By signing up, you will receive notices of all contents through private messages so you don't miss out. BONUS: I believe in the future of Colossuscoin so I am offering 50,000 COL to the first 40 people who sign up AND become added to the Marketing and Development Team
Make sure you sign up on the forums at
http://colossuscointalk.org and sign up to be a Promoter at
http://colossuscointalk.org/index.php?topic=305.0A little about me and my Goals with ColossuscoinColossuscoin is 100% Proof of Stake meaning you can only buy Col and stake your coins (prove your balance) for interest. Colossuscoin originated as a Proof of Work/Proof of Stake hybrid and in early December became 100% Proof of Stake.
Why does Proof of Stake matter? It eliminates outside miners selling the currency without actually owning it in the first place and large mining power pushing out the average investor. Proof of Stake is the future because the coins become the same as shares in a company, investors receive dividends based upon the amount of investment in the Foundation.
I became involved in Colossuscoin shortly after the original developer left in early December because it offered me an opportunity to lead and develop an entire foundation. The foundation had wallet issues and no developer, yet there was a group of individuals so dedicated that they would stick it out through the hardest times. Everyone is off chasing new highs so large amounts could (and still can be) bought for cheap.
The Development Team was created on the basis that all investors are equal, those that have a genuine interest in making the Foundation better for everyone become the core that drives it’s future regardless of how much investment they own. Those that contribute to the foundation should be rewarded so we are focusing on many ways we will reward all investors and those who are part of Colossuscoin.
In early December, Sudo23 created the Donation Fund which is a group of wallets which are slated specifically for the Development of Colossuscoin. Donations ended up being small, and only funded by people managing the foundation, those that are working to make the the foundation better for everyone are punished by always having to foot the bill.
Problems are in fact blessings in disguise.
We have worked together in the planning of the future of Colossuscoin, forging connections with other foundations and coming up with solutions that will benefit everyone involved.
The wallet issues were because the blockchain was so large it was creating syncing issues. To resolve these issues, the developer hardforked the blockchain multiple times which created a larger blockchain and people lost coins by sending during times of these hardforks. Without these hardforks happening, the blockchain stabilized and all transactions work well and actually much faster than BTC, transactions are received in under 2 minutes. The only issue now is that the blockchain is bloated so some people are having trouble syncing the downloaded Col wallet but even that may go away as more people use the wallet (more connections = faster syncing)
I am not the one who will just sit around and hope things get better so I sought out Zackclark70 who was working on more severe problems with ADT and Mullick, the best Proof of Stake coder in the business.
What I want to do
First I want to get the wallet fixed to stop the syncing issues but in the wallet fix we also have the opportunity to update the Development Fund. We change the fees on transactions from a destruction of 0.1 Col per transaction to 0.05% which pays directly to the Development Fund. If you are a longterm holder like I am, you will likely only ever pay this fee once or twice but frequent traders would pay the bulk of it. This takes all the funding pressure off the people who manage the foundation and spreads the cost of development equally across the entire foundation.
Along with the Development Fund, also comes an improved open ledger which is public and better organizes all transactions and balances of the Development Fund.
With a self funding structure we can design a whole new Blockchain with the development fund coded in which would give us the ability to readjust fees so that a portion is paid to investors so long-term holders generate coins from staking and from fees. By swapping over all the coins with the same float, it recovers all coins ever lost (whatever can’t be swapped over are lost coins) and can be be paid to investors, development team and the development fund. The actual swap would likely take months to complete which in that time we can settle all legitimate claims before the swap is finished.
The big benefit to a successful swap means the blockchain can updated and changed regularly as we evolve the platform, the problem with Bitcoin is that people are too heavily invested in the way it is now for it to change.
I think developing a foundation is fairly straightforward, you just make it easy to use, secure and increase rewards along the way. The Wallet and blockchain are yet just a small piece, the possibilities are endless.
Join our newly designed ColossusCoin Forum today on Colossuscointalk.org500 COL welcome bonus for newbies:
http://colossuscointalk.org/index.php?topic=296.0
Colossuscoin – Welcome to the Future
