[PRE-ANN] [CAN] CannabisCoin | Scrypt-N | PoW | KGW | Launch Beginning of March

[hypes]

Update

We've decided to alter the spec and thus changing the reward structure. We've put a lot of effort into coding our own script which produces a visual table of the control of supply. It is now as follows

Specifications

Algorithm:	Scrypt-N
Initial Block Reward:	500 CAN
Block Target Spacing:	60 seconds
Block Halving every:	500,000 Blocks (just under a year @ 1440 blocks/day)
Difficulty Retargetting:	Every block Multi-pool resistant with Kimoto's Gravity Well
Max Supply:	500,000,000 (500 Million)
Premine:	1%
.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.

Reward Structure

Block	Reward Era	CAN/block	Date (approx)	Start of Era CAN	CAN Added	End of Era CAN
0	1	500.00000000	2014-03-02	0	250000000	250000000
500000	2	250.00000000	2015-02-12	250000000	125000000	375000000
1000000	3	125.00000000	2016-01-25	375000000	62500000	437500000
1500000	4	62.50000000	2017-01-06	437500000	31250000	468750000
2000000	5	31.25000000	2017-12-19	468750000	15625000	484375000
2500000	6	15.62500000	2018-12-01	484375000	7812500	492187500
3000000	7	7.81250000	2019-11-13	492187500	3906250	496093750
3500000	8	3.90625000	2020-10-25	496093750	1953125	498046875
4000000	9	1.95312500	2021-10-07	498046875	976562.5	499023437.5
4500000	10	0.97656250	2022-09-19	499023437.5	488281.25	499511718.75
5000000	11	0.48828125	2023-09-01	499511718.75	244140.625	499755859.375
5500000	12	0.24414062	2024-08-13	499755859.375	122070.3125	499877929.6875
6000000	13	0.12207031	2025-07-26	499877929.6875	61035.15625	499938964.84375
6500000	14	0.06103516	2026-07-08	499938964.84375	30517.578125	499969482.42188
7000000	15	0.03051758	2027-06-20	499969482.42188	15258.7890625	499984741.21094
7500000	16	0.01525879	2028-06-01	499984741.21094	7629.39453125	499992370.60547
8000000	17	0.00762939	2029-05-14	499992370.60547	3814.697265625	499996185.30273
8500000	18	0.00381470	2030-04-26	499996185.30273	1907.3486328125	499998092.65137
9000000	19	0.00190735	2031-04-08	499998092.65137	953.67431640625	499999046.32568
9500000	20	0.00095367	2032-03-20	499999046.32568	476.83715820312	499999523.16284
10000000	21	0.00047684	2033-03-02	499999523.16284	238.41857910156	499999761.58142
10500000	22	0.00023842	2034-02-12	499999761.58142	119.20928955078	499999880.79071
11000000	23	0.00011921	2035-01-25	499999880.79071	59.604644775391	499999940.39536
11500000	24	0.00005960	2036-01-07	499999940.39536	29.802322387695	499999970.19768
12000000	25	0.00002980	2036-12-19	499999970.19768	14.901161193848	499999985.09884
12500000	26	0.00001490	2037-12-01	499999985.09884	7.4505805969238	499999992.54942
19000000	39	0.00000000	Out of 32bit range	499999999.99818	0.00090949470177293	499999999.99909

We feel this will work well, with a sensible number of total coins. Feedback is appreciated.

Thanks

[supaH]

By "Beginning of March", do you mean like the 1st or 2nd? or 7th or 8th?

Thanks, looking to get in on this early.

[hypes]

Could be any day now, we would rather not say the exact date until we're confident everything is in place for a successful launch

[hypes]

We've updated the reward structure again, we wanted the halving to be a little longer,  year. We feel this will give more scope for adoption over a longer period, as mining is becoming more mainstream everyday.

[hypes]

Another update:

We've also decided to make the coin Scrypt-N.

This is due to the influx of ASICs making Scrypt coins require much more power to make a decent profit for the casual miner (you may have noticed in the last 2 weeks). We feel that it's important not to segregate the new miners that are discovering cryptocurrency mining. We hope you also agree.

We will make a concerted effort to provide information on how to mine Scrypt-N.

Thanks

[ekrem]

where the canabis wallet 

[Amph]

you premined 5M with a block value of 500

TOPLEL

[hypes]

you premined 5M with a block value of 500

TOPLEL

We have not premined anything yet, this is just a pre-accouncement. If you feel 1% is too much, please state that. We need assets for bounties, getting it onto exchanges and fiat>CAN (we've already been contacted about this) and also getting it into retailers.

There's 1440 blocks per day (60 second blocks), which works out to 720,000 CAN per day, you cannot base your negative assumptions on block value alone.

I also do not understand TOPLEL, maybe this is some kind of newskool term?

[Amph]

toplel is just like having the best laugh
TOP + LOL

anyway we will see how this will turn out...

[hypes]

where the canabis wallet 

Not long now

[jamo4000]

Nice ! 

[jootn2kx]

so its launching immediatly?

[tazcatlicoatlus]

Wow loved everything and thought it was the best cannabis coin so far, then seen the 1% Premine 5,000,000 

I love the 2 dog plant, everything about this coin looks nice, but nowadays the premines get a lot of resistance.  This coin has a lot of potential without it imo.

[hypes]

Wow loved everything and thought it was the best cannabis coin so far, then seen the 1% Premine 5,000,000  

I love the 2 dog plant, everything about this coin looks nice, but nowadays the premines get a lot of resistance.  This coin has a lot of potential without it imo.

Thanks for the comments.

While I do understand, the benefits of the developers having assets (if they care about the coin and not to just dump) means development can move quicker by delivering bounties. Without this, the coins growth could be stunted as more services want a cut for them to add a coin.

This may not be the case without a premine, but we would rather have the option to be able to pay for services if we need to.

[hypes]

so its launching immediatly?

We're still making sure everything is in place for a successful launch. We do not want a failed launch!

[8-bit]

What are your thoughts on Scrypt-N people?

I am new to Scrypt-N and love the fact that powerful asic machines cannot mine the coin, however, right now its difficult for me to swallow the lower hashing speeds. can someone help me see the potential.

my r9 280 saphire gets 730kh on scrypt, but only 335 on scrypt-N

btw, cool coin!

[8-bit]

any update on the release of this coin>?

thanks

[teamlottowin]

did this just get added to TREX or is there another Cannabiscoin ??

[SimonBaker]

I really wanna know more about these coins. POtcoin, Dopecoin, etc. Are their others? It sounds like these are going to great in cannabis community.