[PRE-ANN][HVC] Heavycoin - Ultra-secure, Decentralized Block Reward Voting, Fast

[keccak512]

eh, one more coin to be devoured by botnets. such a pity

Valid issue. Way to counter this?

I don't think any coin can counter this (unless it was somehow GPU only I guess).


However I'll be looking into getting in on this. Registered an account just for this coin.

Couldn't you counter this with having a different way of authentication when you want to start mining? A CAPTCHA for example?

To be honest, we think the botnet posts are just baseless FUD.  We have given our viewpoint here https://bitcointalk.org/index.php?topic=470391.msg5209228#msg5209228 and here https://bitcointalk.org/index.php?topic=470391.msg5199700#msg5199700

There have been plenty of CPU-resistant crypto-currencies without memory-hard algorithms that have been very successful.   Probably the most well-known is Quarkcoin, but there are tons of others.

[Jonesd]

eh, one more coin to be devoured by botnets. such a pity

Valid issue. Way to counter this?

I don't think any coin can counter this (unless it was somehow GPU only I guess).


However I'll be looking into getting in on this. Registered an account just for this coin.

Couldn't you counter this with having a different way of authentication when you want to start mining? A CAPTCHA for example?

To be honest, we think the botnet posts are just baseless FUD.  We have given our viewpoint here https://bitcointalk.org/index.php?topic=470391.msg5209228#msg5209228 and here https://bitcointalk.org/index.php?topic=470391.msg5199700#msg5199700

There have been plenty of CPU-resistant crypto-currencies without memory-hard algorithms that have been very successful.   Probably the most well-known is Quarkcoin, but there are tons of others.

Fair point

[bcd]

Coin looks interesting except the unfair IPO distribution logic. If you guys can re-plan the IPO in 2 stages ( #1 stage - fixed coins/btc, #2 stage - distribution with respect to % of high investor), I will be in.

[PuYang]

Great, i'm interested.

[Jonesd]

Coin looks interesting except the unfair IPO distribution logic. If you guys can re-plan the IPO in 2 stages ( #1 stage - fixed coins/btc, #2 stage - distribution with respect to % of high investor), I will be in.

I agree with this. Why not do it like Reddcoin? Have a clear calculation on a website with investor numbers and add a second stage for extra investments. Paying out the coins slowly will also help to prevent pumps.

[demon5858]

I am interested , count me

[Fatih87SK]

Coin looks interesting except the unfair IPO distribution logic. If you guys can re-plan the IPO in 2 stages ( #1 stage - fixed coins/btc, #2 stage - distribution with respect to % of high investor), I will be in.

I agree with this. Why not do it like Reddcoin? Have a clear calculation on a website with investor numbers and add a second stage for extra investments. Paying out the coins slowly will also help to prevent pumps.

Or like NEM. They will give everyone an equal share.

That's the most fair IPO I have ever seen.

And that's why NEM got approximately 2500 - 3000 stakeholders. Great distribution.

[xiaoshen]

 

[xiaocong]

hi,below is Chinese translation of the ANN post.
下面是发布帖的汉语翻译

https://bitcointalk.org/index.php?topic=478429.0

[keccak512]

Coin looks interesting except the unfair IPO distribution logic. If you guys can re-plan the IPO in 2 stages ( #1 stage - fixed coins/btc, #2 stage - distribution with respect to % of high investor), I will be in.

I agree with this. Why not do it like Reddcoin? Have a clear calculation on a website with investor numbers and add a second stage for extra investments. Paying out the coins slowly will also help to prevent pumps.

Or like NEM. They will give everyone an equal share.

That's the most fair IPO I have ever seen.

And that's why NEM got approximately 2500 - 3000 stakeholders. Great distribution.

While I agree that the NEM IPO has a cool vibe to it, this sense of fairness and equal distribution is unfortunately pretend and misleading.

There is no way to stop NEM investors from using several bitcointalk accounts to obtain a higher stake, and many users are absolutely certain to be doing this.  You would be fooling yourself (and others) if you do not believe this.  Thus, we strongly believe the distribution of NEM to its stakeholders is not what it appears on the surface.

It's highly likely that many individuals are even using 10 or more accounts.  At the end of the day, the investors with more BTC will have a higher percentage of NEM.  If you are in doubt, then note that a significant fraction of the accounts claiming NEM IPO stakes are actually newbie accounts, created around the time of their IPO, and not used for anything else after claiming.

We feel that such artificial limitations are not helpful and are, in fact, misleading to investors.  This is why the Heavycoin IPO does not impose any limitation on the amount of BTC invested per account.  We hope this will improve transparency, so that other Heavycoin investors can see are more realistic representation of what the distribution is--- even if that is comes at a cost for us in term of how much IPO capital we can raise.

[keccak512]

hi,below is Chinese translation of the ANN post.
下面是发布帖的汉语翻译

https://bitcointalk.org/index.php?topic=478429.0

Excellent!  Thanks for your contribution.  We are happy to award you with a 1,000 HVC bounty.  This will be paid to you after the mining launch.  We've updated the PRE-ANN post to reflect your completed bounty.

[neilyu]

I am interested

[kevchev]

Heavycoin Public Key:   04a35ab81c5aa75e4fcd5e4afac20eb5821cad14f78085eb92ef9c0ff416ca838d31f727750ce82 daf5412e4b08b9c4f1916cdac7aac0cffe20cb84639ee7da633
Bitcoin Transaction ID: 22bf4cacdf2007ce791cc46b1996c3bbfd49dcc9727b1103b6584a85f7aa6ab1
Amount sent: 0.02 BTC

[delusiona1]

Sent some more, finally something different!!!!!!!!!!!!!!!!!!

This is looking great, just needs some more marketing!

[keccak512]

Heavycoin Public Key:   04a35ab81c5aa75e4fcd5e4afac20eb5821cad14f78085eb92ef9c0ff416ca838d31f727750ce82 daf5412e4b08b9c4f1916cdac7aac0cffe20cb84639ee7da633
Bitcoin Transaction ID: 22bf4cacdf2007ce791cc46b1996c3bbfd49dcc9727b1103b6584a85f7aa6ab1
Amount sent: 0.02 BTC

Investment confirmed.  Welcome aboard!

[keccak512]

Sent some more, finally something different!!!!!!!!!!!!!!!!!!

This is looking great, just needs some more marketing!

Thanx!!  I'm fairly sure I know which TX is yours, but please post the TX id for confirmation.

We've got a few things lined up, but more is needed.  Anyone interested in helping out with marketing, please give us a shout!

[Robert Lewandowski]

So basically all the IPO reserved now will be taken from the main 20 BTC investor unless someone puts up anything higher, which would still mean for people investing single digit BTCs that they would barely get anything. It would also set up the possibility of a negative ROI and someone just dumping their millions of coins after a month.

[atc1]

Looks good. Reserved.

[keccak512]

Currently a 1BTC investment gives you 207,114.81989 HVC, which is about 4.14% of the IPO, a good size chunk.

This will decrease depending on how much more investment is received.  Given the rate of investment over the past couple days, it is currently decreasing slowly.

[Jonesd]

Currently a 1BTC investment gives you 207,114.81989 HVC, which is about 4.14% of the IPO, a good size chunk.

This will decrease depending on how much more investment is received.  Given the rate of investment over the past couple days, it is currently decreasing slowly.

Like most people I'll wait till the last day. Would be different if you would give an early bird advantage like 5000/btc for the first hundred  > 0.1 btc investors.