[ANN][NYAN] NyanCoin - ★★★V1.2 Released! Now Listed on Cryptsy! ★★★

[tyson187]

Please make your final votes on the algorithm changes.

The options have been narrowed down based on the previous votes. Because of points brought up by atheistftwins, we feel it is not productive to try to implement a hybrid model. Therefore, the choices will be split between X11 and pure POS. Additionally, the the community should vote on whether to decrease supply of the coin going forward, thus making the current amount of NYAN the bulk of the expected coins. If this is done, then only POS is feasible as POW would not be able to sustain a high enough hash rate.

Poll will close in 48 hours and then implementation will begin.

a few hours left to vote and it looks like it`s going to be a tie , what happens then , are we going to vote again or will you choose a winner for us

[1713454605]

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[Anubite]

Without mining, there will be no way for people with little or no Nyan to get any without spending money. Without lower rewards and/or PoS, there is just too much supply.

The vote is pretty much tied, and honestly extra accounts could have been created or used to get it to swing a few votes one way or the next.

Thinking of one other notable point of PoS, people could earn Nyan while mining other coins. This could be a good thing, or a bad thing, depending on how much they get into their other coins and how much PoS pays out.

I think hybrid is the right way to go it seems, imo. It may be more work, but ensures Nyan will have staying power. After that, it's only a matter of building a marketplace.

[Ivan195]

Without mining, there will be no way for people with little or no Nyan to get any without spending money. Without lower rewards and/or PoS, there is just too much supply.

The vote is pretty much tied, and honestly extra accounts could have been created or used to get it to swing a few votes one way or the next.

Thinking of one other notable point of PoS, people could earn Nyan while mining other coins. This could be a good thing, or a bad thing, depending on how much they get into their other coins and how much PoS pays out.

I think hybrid is the right way to go it seems, imo. It may be more work, but ensures Nyan will have staying power. After that, it's only a matter of building a marketplace.

Read about blackcoin. This is very simple and geniusly. +1% of your coins for the year and multipul for other coin with exchange on blackcoin.
http://www.blackcoin.co/
Sorry for bad translation.

[Anubite]

Without mining, there will be no way for people with little or no Nyan to get any without spending money. Without lower rewards and/or PoS, there is just too much supply.

The vote is pretty much tied, and honestly extra accounts could have been created or used to get it to swing a few votes one way or the next.

Thinking of one other notable point of PoS, people could earn Nyan while mining other coins. This could be a good thing, or a bad thing, depending on how much they get into their other coins and how much PoS pays out.

I think hybrid is the right way to go it seems, imo. It may be more work, but ensures Nyan will have staying power. After that, it's only a matter of building a marketplace.

Read about blackcoin. This is very simple and geniusly. +1% of your coins for the year and multipul for other coin with exchange on blackcoin.
http://www.blackcoin.co/
Sorry for bad translation.

Blackcoin is a shitcoin. +1% over 1 year, what is this? If this is Nyan I am gone. All it did was benefit those who mined it early on, with no benefit for anyone getting into it now. The whole system they set up is rigged.

Either we have a novel coin via X11 and getting rid of the KGW for Digishield, or we clone BC, that is what I have seen. If we clone BC, might as well go with the original.

[slasherzx]

I don't like POS since it will heavily reward early miners. I mined it early too but it will not attract new miners...

X-11, digishield, gradual block rewards..

If we stick to POS only, with the low income of coins especially on scrypt based coins we need to compensate by reducing power cost and X11 is necessary to get ROI easier for miners.. There are only 2 X11 coins Dark and Hiro. Hiro bypassed us in marketcap with only 2 weeks old.. We need to get back on the game fast..

[Armando]

I don't like POS since it will heavily reward early miners. I mined it early too but it will not attract new miners...

If the PoW will be closed, we can attract miners without suffering from the negative effect caused by mined coins dumping. Take a look at Blackcoin, when the PoW phase was over, the multipool has come that allowed miners to "mine" BC this way: miners are actually mining some coins from coinwarz top, that is exchanging into bitcoins, and then bitcoins are used to purchasing BC.

So, multipool purchased much BC every day, and the price went to the moon. Of course, part of miners were dumping BCs after getting the payouts, but multipool soon purchased them back  It was a nice ride, and even now when the hype around it is over, the price is still high!

https://www.mintpal.com/market/BC/BTC

Why not to make the same with Nyan? It will work! And everyone will like it - holders will have havier bags, miners will make good profits mining coin with increasing value, and the speculators will enjoy rollercoaster ride. Much more new people will be into Nyan, so this will be huge win for every one in the community I believe.

[Ivan195]

I don't like POS since it will heavily reward early miners. I mined it early too but it will not attract new miners...

If the PoW will be closed, we can attract miners without suffering from the negative effect caused by mined coins dumping. Take a look at Blackcoin, when the PoW phase was over, the multipool has come that allowed miners to "mine" BC this way: miners are actually mining some coins from coinwarz top, that is exchanging into bitcoins, and then bitcoins are used to purchasing BC.

So, multipool purchased much BC every day, and the price went to the moon. Of course, part of miners were dumping BCs after getting the payouts, but multipool soon purchased them back  It was a nice ride, and even now when the hype around it is over, the price is still high!

https://www.mintpal.com/market/BC/BTC

Why not to make the same with Nyan? It will work! And everyone will like it - holders will have havier bags, miners will make good profits mining coin with increasing value, and the speculators will enjoy rollercoaster ride. Much more new people will be into Nyan, so this will be huge win for every one in the community I believe.

+1 Multipool is very important point.

May be we have +10-20% coins per year and 5% later.

[slasherzx]

I don't like POS since it will heavily reward early miners. I mined it early too but it will not attract new miners...

If the PoW will be closed, we can attract miners without suffering from the negative effect caused by mined coins dumping. Take a look at Blackcoin, when the PoW phase was over, the multipool has come that allowed miners to "mine" BC this way: miners are actually mining some coins from coinwarz top, that is exchanging into bitcoins, and then bitcoins are used to purchasing BC.

So, multipool purchased much BC every day, and the price went to the moon. Of course, part of miners were dumping BCs after getting the payouts, but multipool soon purchased them back  It was a nice ride, and even now when the hype around it is over, the price is still high!

https://www.mintpal.com/market/BC/BTC

Why not to make the same with Nyan? It will work! And everyone will like it - holders will have havier bags, miners will make good profits mining coin with increasing value, and the speculators will enjoy rollercoaster ride. Much more new people will be into Nyan, so this will be huge win for every one in the community I believe.

+1 Multipool is very important point.


May be we have +10-20% coins per year and 5% later.

Thats too exaggerated looking at Clean Water Coin Specifications:

Algorithm: Scrypt
Type: POW + POS
Symbol: WATER
Max Coins: 1,000,000,000
Block time: 120 seconds
Difficulty Re-Target Time:  Every block

Block Rewards: From block 51-250 payout will be 0 to ensure a fair launch
1,000 from block 251-7000
(20,000)(1/√(Difficulty+500)) from block 7001-250,000
(15,000)(1/√(Difficulty+500)) from block 250,001-500,000
(10,000)(1/√(Difficulty+500)) from block 500,001+

POS Rewards: Fixed 8% beginning at block 7001-500,000
Fixed 7% beginning at block 500,000-1,000,000
Fixed 6% at 1,000,000-2,000,000
Fixed 2% at 2,000,000+

POS Schedule: Coins mature after 20 days
Charity Wallet Donation: 0.1% of transaction*
Confirmations for mined blocks: 50
Confirmations for minted blocks: 50
Confirmations for transactions: 4

[Ivan195]

I don't like POS since it will heavily reward early miners. I mined it early too but it will not attract new miners...

If the PoW will be closed, we can attract miners without suffering from the negative effect caused by mined coins dumping. Take a look at Blackcoin, when the PoW phase was over, the multipool has come that allowed miners to "mine" BC this way: miners are actually mining some coins from coinwarz top, that is exchanging into bitcoins, and then bitcoins are used to purchasing BC.

So, multipool purchased much BC every day, and the price went to the moon. Of course, part of miners were dumping BCs after getting the payouts, but multipool soon purchased them back  It was a nice ride, and even now when the hype around it is over, the price is still high!

https://www.mintpal.com/market/BC/BTC

Why not to make the same with Nyan? It will work! And everyone will like it - holders will have havier bags, miners will make good profits mining coin with increasing value, and the speculators will enjoy rollercoaster ride. Much more new people will be into Nyan, so this will be huge win for every one in the community I believe.

+1 Multipool is very important point.


May be we have +10-20% coins per year and 5% later.

Max Coins: 1,000,000,000

(20,000)(1/√(Difficulty+500)) from block 7001-250,000
(15,000)(1/√(Difficulty+500)) from block 250,001-500,000
(10,000)(1/√(Difficulty+500)) from block 500,001+

WTF?

Many miners is dumpers. They sell coins at once.

[uiunavie]

What can we get in the future?

[mrjoker]

 X-11+ POS+POW??

[Ivan195]

X-11+ POS+POW??

Inefficiently. Only x11 or pure POS.

[lzr1900]

dear devs,any progress?

[forzendiablo]

soon to be on cryptsy!!

[lzr1900]

soon to be on cryptsy!!

Really??

[Simcom]

So POS w/ decreased rewards looks like it won.

[muhhentuhhen]

POS "won"... Look at the vote results. More like nyancoin community divided into half. IMO, these results are bad. Feels like people who own a big hunk of nyancoins are voting for POS. I'm giving up on this coins if it goes POS.

[Ivan195]

POS "won"... Look at the vote results. More like nyancoin community divided into half. IMO, these results are bad. Feels like people who own a big hunk of nyancoins are voting for POS. I'm giving up on this coins if it goes POS.

Why? I have 60000 nyan and i vote POS because "mine, sell, price down" is not good model.

[braxx]

devs... any news about algo?
looks like vote is seriously divided

maybe a consensus is pow+pos hybrid.
just a thought...

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[nrhs05]

Well  as far as i can tell ultimately they want to do what will get the coin on crytpsy and increase the trade volume, price, and price stability, which will allow for this coin to be used by merchants if the price is stable and not .0001 cents.
 
With the coin being POS it should help stabilize the price (better for merchants as well) as there will be not near as many new NYANs coiming in and thus need left investors to keep the price stable. Although that doesnt mean more trade volume either i suppose.

The unfortunate thing about changing an algo now is a lot of people still will not notice, as they will when a brand new coin is out. People like new coins as there is always the chance it will be a 1 week wonder like some other have been.

It is hard to use a pool such as this to determine what will attract new investors, as you are asking current investors their opinion.  Either way i hold ~ 115,000 nyan which i plan to hold as i am with all my other coins since everything is rock bottom. I do not see the price going tooooo much lower than it is now but you never know!