★★★★ [CAIx] ★ First 100% PoS At Launch ★ PSP ★★★★

[cryptoNerd]

Do you even read the announcements before you spew your bullshit onto this forum? https://bitcointalk.org/index.php?topic=513613.msg6296433#msg6296433

As soon as they decided that they were going to move CAI from PoW to PoS they said that they were leaning towards destroying "most" of the premine of CAI, they then announced further details of how CAI will become CAIx and stated that CAIx will have a premine of 2%.

TLDR = cryptonerd = fool
CAI premine to be deleted
CAIx premine to be 2% of total CAIx coins

If I miss one of the many updates about the destroying the premine, then my apologies.
the update I read did not address the premine. And if it was determined what was to be done with the premine, then why couldn't we get a straight answer. Clearly a break down in communication because I wasn't the ONLY ONE having this concern. It doesn't matter now at this point.

[TheStuhlman]

Announcement made on the transition. If you have any questions or concerns please post on this thread and I will answer them in the FAQ on announcement.

[kryptologist]

Out of the current premine we will pay the 8 devs 4k CAI each to a total of 32k CAI which they will exchange with the rest of CAI owners. the rest of the premine will be transfered to an escrow trusted in this community and will act as a third party to insure this premine will never be exchanged to CAIx.
The original premine was 560k of which 68k went to the IPO owners and 92k were paid for services bounties and giveaways. The original developers in this project have not received any payments so far, although we did say we will get 8% of biweekly payments, this never materialized. All the devs will be getting from the premine is the 32k CAI.


Okay so assume we believe what the Devs are telling us:

There will be a total of 1,600,000 million CAIx.

68,000 (to IPO) + 92,000 (to bounties) = 160,000 premined and spent coins

Question: does the remaining 400,000 CAI form the original premine go into escrow?

If this is the case then the original 28% is correct.

If this is not the case then: 160,000 premined and spent coins / 1,600,000 total coins = 10% premine

Either way this seems terrible, please correct me if I'm wrong.

[sakr]

CAI official p2pool

Please point your miners (ScryptN) here :

http://thepool.pw:2888

and use your CAI address as username

for example:

vertminer --scrypt-vert -o thepool.pw:2888 -u YourCAIPayoutAddress  -p x


you will receive payments directly to your wallet!

Why use P2Pool:

• You will get better rewards: P2Pools award transaction fees from black rewards to the miners
• Your mined coins will be deposited directly into your wallet, they are never held by any pool "operator" and cannot be lost due to incompetence or fraudulent behaviour.
• P2Pool is DDoS resistant, it is impossible to DDoS the entire peer-to-peer P2Pool network, at best all someone can do is knock a node offline, in which case your client will just switch to one of your failover nodes
• You do not have to register on any pool sites, etc. all you need is a CAI address which you will use as your username, and your rewards will be paid directly into your wallet.
• Even if the node you are using goes down, you will not lose a single microCAI of payment, as the network itself stores your pending rewards, and will distribute them to you as normal.

[kryptologist]

DCgirl I am sad you said had respect, but I will answer this as well. You have not stated a fact, but I will restate them for you.
With the success of CAI so far we have noticed that our premine has grown in value to over 300 BTC. This would have been a great thing
to any scammer dev, but not for me. I decided to destroy the premine, and remove any future doubts as to the purpose of CAI. We wanted to prove that with modest funds we can create a success. So when we discussed the best way to destroy a premine, we also wanted to add a an extra benefit to our investors at the same time by removing the miner dumping aspect that been plaguing UTC for example. SO a move to full PoS would enable us to implement many changes at once.

• Destroy Premine
• Remove Miner dumping
• lower Max coin cap
• secure our network 100% from ASICS/Multipools
• Move CAI to the next stage by making it a community project

We have a lot of ideas and to have that accomplished we needed to remove the weight of a premine that has become of huge value from the CAI market cap. Some people will think why? because at one point in the near future that might raise questions as to our motives. So if we stayed where we are would you feel safer investing in CAI knowing I have access to 100's of Thousand that I can dump on the market or would you feel safer if I don't? The fact that some people question our decision to destroy premine makes me wonder as to the validity of the question. This should be a no brainer to see  how much CAI will benefit from this action that I am taking with the full knowledge that the premine I am destroying is worth more than 300 BTC. I am sorry If I offended you, but I hope you can see these facts and argue anything with me that makes you feel I am doing anything wrong. As far as these changes are concerned, I have met with some of our biggest investors in CAI and they were delighted with the steps we are taking. I did not do this out of personal interest as it is obvious from the facts it's the opposite.

Was the decision to destroy the premine from the start OR after you're called out on it? In the initial announcement of going to PoS, destroying the premine was not mentioned.

And when the community brought it up we couldn’t get a straight answer, and you got defensive. So I assumed (like many others) that you were trying to pull a fast one. The lost of trust started from there. I am looking forward to reading a clear and precise announcement today.

@TheStuhlman: The way you handle questions/criticism destroys more trust than you would by keeping quiet imho.

Yup

Do you even read the announcements before you spew your bullshit onto this forum? https://bitcointalk.org/index.php?topic=513613.msg6296433#msg6296433

As soon as they decided that they were going to move CAI from PoW to PoS they said that they were leaning towards destroying "most" of the premine of CAI, they then announced further details of how CAI will become CAIx and stated that CAIx will have a premine of 2%.

TLDR = cryptonerd = fool
CAI premine to be deleted
CAIx premine to be 2% of total CAIx coins

ROFL I called them out on this. They would have taken the 28% premine and still might be doing so. Ppl calling this a scam just saved CAI investors a ton of money. Be thankful.

[kjesser]

ROFL I called them out on this. They would have taken the 28% premine and still might be doing so. Ppl calling this a scam just saved CAI investors a ton of money. Be thankful.

.... You are an idiot.

[Jubelo25]

Announcement made on the transition. If you have any questions or concerns please post on this thread and I will answer them in the FAQ on announcement.

SINCE YOUARE A SMART ASS YOU CAN ANSWER ME THIS YOU WILL DESTROY THE 2% IPO MINE  ALREADY PAID BITCOIN    GOING TO RETURN THE MONEY PEOPLE NOT RIGHT ,INSTEAD THAT GO MINE ANOTHER 2% SCAM ALL PEOPLE WITH BULLSHITDO NOT BELIEVE THAT PEOPLE ARE STUPID TO BELIEVE IN YOUR STUFF 

[burningzoul]

Wish you the best of luck in your transition...

[kryptologist]

Out of the current premine we will pay the 8 devs 4k CAI each to a total of 32k CAI which they will exchange with the rest of CAI owners. the rest of the premine will be transfered to an escrow trusted in this community and will act as a third party to insure this premine will never be exchanged to CAIx.
The original premine was 560k of which 68k went to the IPO owners and 92k were paid for services bounties and giveaways. The original developers in this project have not received any payments so far, although we did say we will get 8% of biweekly payments, this never materialized. All the devs will be getting from the premine is the 32k CAI.


Okay so assume we believe what the Devs are telling us:

There will be a total of 1,600,000 million CAIx.

68,000 (to IPO) + 92,000 (to bounties) = 160,000 premined and spent coins

Question: does the remaining 400,000 CAI form the original premine go into escrow?

If this is the case then the original 28% is correct.

If this is not the case then: 160,000 premined and spent coins / 1,600,000 total coins = 10% premine

Either way this seems terrible, please correct me if I'm wrong.

This message is specifically directed at the developer(s). It is a huge problem. How do you think is is okay? How is it not a problem that you spent minimum 160,000 which is way over the 2% premine (160,000 = 10% premine). How can you decrease the total number of coins to 1.6 million without this being a scam? Make no sense. Please clarify.

[cryptoNerd]

So now the premine are going into ESCROW, and not being destroyed.
story keeps flip-flopping. 

[cooniac]

So now the premine are going into ESCROW, and not being destroyed.
story keeps flip-flopping. 

yeah lol, that story keeps flip-flopping ....

from a 2% premine to an 28% premine, then to a "we destroy the premine" back to 2% premine and now its 2% premine to the devs and 23% premine to the "escrow", makes 25% premine at the moment.

i wonder how much premine the coin has tomorrow, it could be anything ^^

[kryptologist]

So now the premine are going into ESCROW, and not being destroyed.
story keeps flip-flopping. 

yeah lol, that story keeps flip-flopping ....

from a 2% premine to an 28% premine, then to a "we destroy the premine" back to 2% premine and now its 2% premine to the devs and 23% premine to the "escrow", makes 25% premine at the moment.

i wonder how much premine the coin has tomorrow, it could be anything ^^

One thing we know for sure is that 160,000 CAI have already been spent from original premine. Bringing the total supply down to 1.6 million means minimum 10% premine @@

[DARKANGEL6415]

so when is the switch to the caix coin ?

[Jacques21]

so when is the switch to the caix coin ?

Probably early to middle of next week.

[thdillin]

Out of the current premine we will pay the 8 devs 4k CAI each to a total of 32k CAI which they will exchange with the rest of CAI owners. the rest of the premine will be transfered to an escrow trusted in this community and will act as a third party to insure this premine will never be exchanged to CAIx.
The original premine was 560k of which 68k went to the IPO owners and 92k were paid for services bounties and giveaways. The original developers in this project have not received any payments so far, although we did say we will get 8% of biweekly payments, this never materialized. All the devs will be getting from the premine is the 32k CAI.


Okay so assume we believe what the Devs are telling us:

There will be a total of 1,600,000 million CAIx.

68,000 (to IPO) + 92,000 (to bounties) = 160,000 premined and spent coins

Question: does the remaining 400,000 CAI form the original premine go into escrow?

If this is the case then the original 28% is correct.

If this is not the case then: 160,000 premined and spent coins / 1,600,000 total coins = 10% premine

Either way this seems terrible, please correct me if I'm wrong.

http://1.bp.blogspot.com/-ZpkIs_bHwK8/UrCsecFCZAI/AAAAAAAAA78/9TS_IOpSgic/s1600/WW-Hell-No-84353749801.jpeg


This message is specifically directed at the developer(s). It is a huge problem. How do you think is is okay? How is it not a problem that you spent minimum 160,000 which is way over the 2% premine (160,000 = 10% premine). How can you decrease the total number of coins to 1.6 million without this being a scam? Make no sense. Please clarify.

[TheStuhlman]

CAI in news article on Coindesk: http://www.coindesk.com/things-alt-crypto-congress-birthday-feathercoin/

[DARKANGEL6415]

CAI in news article on Coindesk: http://www.coindesk.com/things-alt-crypto-congress-birthday-feathercoin/

cool will read it soon

[jdebunt]

And the new article is up, really love Tiny Elementals

http://www.cryptoarticles.com/crypto-news/2014/4/27/caishens-first-game-tiny-elementals-available-now-for-ios-android

[Jacques21]

Yes the game is awesome, most of the time i want to play though there are no other players online.

[kro55]

Another one article about Caishen and Tiny Elementals:
http://thebitcoinnews.co.uk/2014/04/27/caishens-first-game-tiny-elementals-available-now-for-ios-android/

And another one:
http://cryptonewz.com/all-things-alt-a-crypto-congress-and-a-birthday-for-feathercoin/