[ANN][ScryptAdaptive] KMC KimoCoin - KimotoCoin [5 EXCHANGES!]

[ciocgun]

but money still be there?

[jacob019]

Of course, money would still be there.  There would be a mandatory wallet update.  Premine was only 150M and I did not ask for it from forgetme.  He did send 10M.  Considering the circulation is now over 3 billion, the pre-mine is nothing to worry about.

Regarding gambling features.  I have neither the time nor the skill and since you are not offering to develop it that's out.  If you want this feature you need to find someone who can code it.

Regarding POS, that's beyond my abilities and I don't have the time to invest to learn it.  I'm sure I could modify the block reward, even the algo switch will be difficult, but I'll give it a shot.  Really need help with all of it.  I'm not very fond of POS coins, they're prone to forking and there's no built in incentive in the network to prefer one main chain.  I think pure POW is better, but this is our community coin now, so we will go with the majority decision.  The main blocker is that we need the code.

[ltcnim]

so the pre-mine is nearly 5% of all coins in circulation? Noone would join that ship ^^
I also see that bringing that coin back to life with the mentioned features is a lot of hard work, and it's most likely not possible to do that alone.
That's why I still suggest, to get the pre-mine and look for some help. With the pre-mine, we could pay another dev which could help you a lot.

I think pure PoW coins are not attracting people anymore, but PoS could help, and it would help to secure the blockchain after the block reward is too low.
I'm not sure if this coin is reviveable, but there might be a chance. But not with just lowered block rewards etc. (look at all the coins that tried that).

[cell.md]

jacob019: After block 100 000 I would like to propose the following scheme:

Every 2 000 block block reward drop by 10 000, so:
block 100 000  -- 100 000
block 102 000  -- 90 000
block 104 000  -- 80 000
block 106 000  -- 70 000
block 108 000  -- 60 000
block 110 000  -- 50 000
block 112 000  -- 40 000
block 114 000  -- 30 000
block 116 000  -- 20 000
block 118 000  -- 10 000
block 120 000  -- 5 000

What do you think?

The logic here is that for every range will be little more than a day.

[birdonwheels5]

We have the kimocoin.com domain, but have not yet gotten access to the vps and github repo.  Forgetme has agreed to give me access to both, but it's unclear how long it will take.  Anyway, we should start planning for the future of the coin.  I believe it would be a good idea to do a hard fork at block 100,000.

I believe that we should adjust the block reward and maybe the algorithm:
1.  After block 100,000 jump immediately to 50,000 with a longer tail.  I'm very worried about moving quickly down to only 5,000.  Who amongst us will continue to mine with only 5,000 block reward?  Here we are at 80,000 and < 0.1 diff.
2.  Switch algorithm to X11, I actually like Scrypt-N but X11 does seem to be more popular and we might pick up more users that way.

What are your thoughts on these points?

If you are really going to do this, I'd suggest the following:

1. change algo to x11 or similar (in terms of power consumption and heat)
2. implement PoS to secure the blockchain after PoW phase
3. make sure that you get the complete pre-mine and put it into different addresses, visible for everyone!

I'm not fond of PoS coins, either. It encourages hording and makes it so you need to have a large stake in order to make any money by "mining".

[GraberKGD]

Stop!!!

Here's what to do.

Official Growth Plan:


- KMC Launched on 1st April at 18 GMT.

- First week from 1st to 7th April 2014

     - Kimocoin post launch marketing via twitter and social channels of giveaway and promotion. DONE and progressing everyday more. Today @CryptoSandwich is starting the promotions of KMC! Check that out and tell everyone about!

     - KimoCoin pre-contact of many pointed Exchanges. We actually are contacting with Mintpal, Cryptsy and Poloniex. As you can see KMC is         been added to two exchanges already and crycurex asked in the thread for us. However Our Entering on the exchanges MArket would be subsequential to the release of KIMOSHOP, so we suggest you to not to dump your coins now. DONE!

     - "just some rumors", really rumors, says that KIMOCOIN it's going to be involved with a worldwide Altcoin cryptocurrency Documentary...

- Second Week from 8 to 14 April 2014:

      - Launch of KimoCoin Shop: WOW that's such a nice thing, in my POW. KMC based custom module, real time connected when exchange price will be rated later, and conversion to eur/usd.

      - Android wallet development maybe finished or this could happen in the third week! we'll update about this later.

      - Online Wallet development start.

      - Continue Massive campaign of information and promotion of KMC

- Third Week from 15 to 22 April 2014: 

      - Entering the exchanges could strongly happen in this week. So help us to achieve this task.

      - Android Wallet should be finished.

      - Online wallet development maybe finished too.

      - Mass Media Announcement and special GIVEAWAY!

- Fourth Week from 23 al 29 April 2014:

      - Anti Exchange Dump Action Mode On.

      - Spreading the KimoCOin to the whole World.

      - Expand the usability of KMC between also many other shops other than KimoShop.

      - Big Giveaway for One month birthday!

More to come soon.

[jacob019]

jacob019: After block 100 000 I would like to propose the following scheme:

Every 2 000 block block reward drop by 10 000, so:
block 100 000  -- 100 000
block 102 000  -- 90 000
block 104 000  -- 80 000
block 106 000  -- 70 000
block 108 000  -- 60 000
block 110 000  -- 50 000
block 112 000  -- 40 000
block 114 000  -- 30 000
block 116 000  -- 20 000
block 118 000  -- 10 000
block 120 000  -- 5 000

What do you think?

The logic here is that for every range will be little more than a day.

Seems okay, but I'm worried that after block 120000 we won't have any miners.  Seems like we might be better dropping only to 20,000 then take a year or so to drop all the way to 5,000.

[birdonwheels5]

jacob019: After block 100 000 I would like to propose the following scheme:

Every 2 000 block block reward drop by 10 000, so:
block 100 000  -- 100 000
block 102 000  -- 90 000
block 104 000  -- 80 000
block 106 000  -- 70 000
block 108 000  -- 60 000
block 110 000  -- 50 000
block 112 000  -- 40 000
block 114 000  -- 30 000
block 116 000  -- 20 000
block 118 000  -- 10 000
block 120 000  -- 5 000

What do you think?

The logic here is that for every range will be little more than a day.

Seems okay, but I'm worried that after block 120000 we won't have any miners.  Seems like we might be better dropping only to 20,000 then take a year or so to drop all the way to 5,000.

Sounds good, that way we won't have THAT much in proportion to everyone else. (hopefully)

[cell.md]

jacob019: After block 100 000 I would like to propose the following scheme:

Every 2 000 block block reward drop by 10 000, so:
block 100 000  -- 100 000
block 102 000  -- 90 000
block 104 000  -- 80 000
block 106 000  -- 70 000
block 108 000  -- 60 000
block 110 000  -- 50 000
block 112 000  -- 40 000
block 114 000  -- 30 000
block 116 000  -- 20 000
block 118 000  -- 10 000
block 120 000  -- 5 000

What do you think?

The logic here is that for every range will be little more than a day.

Seems okay, but I'm worried that after block 120000 we won't have any miners.  Seems like we might be better dropping only to 20,000 then take a year or so to drop all the way to 5,000.

We, KMC community, already have a lot of coins, and after stabilization we will have over 6 BILLION of coin. I fear that with too high block reward for a long time, KMC will never out from the price of 1-2 litoshi. After such big injection, KMC need as fast as possible stabilization.

[cell.md]

Sounds good, that way we won't have THAT much in proportion to everyone else. (hopefully)

Don't forget that a LOT of people have KMC up to 100 000, and then their coins costs nothing. And these people are far more than "millionaires".
I think, would be right to leave the market to distribute already mined coins.

[dari88]

I have stopped to mine.

It's only a joke "Forget Me!".

I will go to FujiCoin! 

[GraberKGD]

I have stopped to mine.

It's only a joke "Forget Me!".

I will go to FujiCoin! 

+1

I will go to Announcing Spots 2.0

[jacob019]

I'm not so concerned with the fairness as much as the security of the blockchain.  If the reward drops to 5k and the miners bail (I know I would), then our coin will be dead.  If we cannot agree on the changes, then we'll just leave it alone.

[cell.md]

I'm not so concerned with the fairness as much as the security of the blockchain.  If the reward drops to 5k and the miners bail (I know I would), then our coin will be dead.  If we cannot agree on the changes, then we'll just leave it alone.

But reward will drop anyway to 5k, and a lot of miners probably will stop mining KMC. The idea was to finish "inflation" as soon as possible, to pump the price of kimocoin, which now is lowest. Would be preferable to see opinion of big-miners here.

[RobFordWotWot]

I don't know if I'm right here but...

Isn't Kim Dotcom's son named Kimo?

I might be grasping at straws here but

[jacob019]

I don't know if I'm right here but...

Isn't Kim Dotcom's son named Kimo?

I might be grasping at straws here but

This coin was started by an Italian university student, not Kim Dotcom.

[JDS1000]

Hey Folks - I placed an order at http://shop.kimocoin.com/ last week...

I haven't received a confirmation for my order.  Your store accepted my KMC, so I believe by international law, we have a contract...

Is anyone minding the store?

[RobFordWotWot]

I don't know if I'm right here but...

Isn't Kim Dotcom's son named Kimo?

I might be grasping at straws here but

This coin was started by an Italian university student, not Kim Dotcom.

That's what they want you to think.

[jacob019]

Hey Folks - I placed an order at http://shop.kimocoin.com/ last week...

I haven't received a confirmation for my order.  Your store accepted my KMC, so I believe by international law, we have a contract...

Is anyone minding the store?

Sorry friend but the store is closed.  Forgetme, the creator of the coin, has abandoned the project, but he has transfered the domain and VPS to me.  I'll be hosting it from now on, so the coin will not die.  We'll start a new thread soon.  You should PM forgetme to ask for a refund.

[CHMinePeeR]

Hey Folks - I placed an order at http://shop.kimocoin.com/ last week...

I haven't received a confirmation for my order.  Your store accepted my KMC, so I believe by international law, we have a contract...

Is anyone minding the store?

Sorry friend but the store is closed.  Forgetme, the creator of the coin, has abandoned the project, but he has transfered the domain and VPS to me.  I'll be hosting it from now on, so the coin will not die.  We'll start a new thread soon.  You should PM forgetme to ask for a refund.

hey guys,

1st @JDS1000, yes PM him nd ask for the refund, he will give it for sure!

@jacob019 nice you took over the project on your VPS/Domain...I already said i will support you on your work and will help as much as I can...If you like PM me and we can get in  contact on skype...
btw i'm on the top 5 KMC top rich list

I'm very busy at my full time job at moment and expecting to get father 2nd time in the next couple days, so you know how busy i am and will be  but i'm here