[ ANN ] SAT² - A new dawn - PoS - No Premine

[HunterS]

200 blocks before decent reward sucks diff will be to high for this little miner to solo after block 200

That's the definition of a fair launch.

not really fair actually cause all the little miners cant solo but the big miners with bighashes and asics can still get blocks solo after block 200 where as the little guys chances are very slim

Actually, that is fair. People with large hashing capacities have also paid big bucks for that. So it's only fair that someone with a lot of hashes also catches more blocks. At the other hand it would be unfair if someone with little hashing capacity would catch a lot of blocks.

If you are implying that everyone should be able to get the same number of blocks, regardless of hashing volume, that just doesn't make sense. The only fair way of looking at this, is: more hashes = more reward.

im saying that the little miners loses his chance to get a few blocks early .of cource the guys that pay for big asics deserve to get more but u take away the  chance for little miners to get a few early before having to go to pool

Correct. But if someone with big asics would be mining right from the start, while the difficulty is still low, that would result in that person getting *all* the blocks. The whole point of the lower reward for the first 200 blocks is to make sure that everyone has a bit of time to set up their mining while the difficulty stabilizes, and that anyone who gets up and running earlier than the rest (including ourselves) do not get an unfair benefit.

no worries bro.is cryptsy handling the change from old to new coins or just mintpal

[Saturncoins]

is cryptsy going to exchange old sats to new sats or just mintpal

Yes, Cryptsy has confirmed again (today) that they will take part in the transition. The specifics will be announced shortly. As you can imagine it is quite an operation to streamline this with the various exchanges and we have to make sure this simply gets done right. Once we have the specifics we will share the info rightaway.

[HunterS]

is cryptsy going to exchange old sats to new sats or just mintpal

Yes, Cryptsy has confirmed again (today) that they will take part in the transition. The specifics will be announced shortly. As you can imagine it is quite an operation to streamline this with the various exchanges and we have to make sure this simply gets done right. Once we have the specifics we will share the info rightaway.

sweet.cheers mate.

[hrshak462]

is cryptsy going to exchange old sats to new sats or just mintpal

Yes, Cryptsy has confirmed again (today) that they will take part in the transition. The specifics will be announced shortly. As you can imagine it is quite an operation to streamline this with the various exchanges and we have to make sure this simply gets done right. Once we have the specifics we will share the info rightaway.

Yeah, like at some point we should possibly cancel our sell orders?  Or they might do that for us.  They have to stop trading at some point I guess.

[defaced]

On to the big blocks!

[dogeberet]

On to the big blocks!

I think I found the last of the little ones   
onward and upward.

[defaced]

On to the big blocks!

I think I found the last of the little ones   
onward and upward.

Haha Well now you get the good ones

[albertdros]

whats conversion rate for sat1 -> sat2?

[Saturncoins]

whats conversion rate for sat1 -> sat2?

1000 : 1

[defaced]

up to 120 MH on DirtyDiggers.org!

[hrshak462]

Anybody wanna send me a SAT2 (or part of one) to get my wallet wet?  Is this wrong?

*address removed*

edit: nevermind, my bad

[albertdros]

wallet in startpost is still old one?

[Saturncoins]

wallet in startpost is still old one?

Correct, the TS has not yet been updated. At the moment we're all very busy monitoring to ensure that everything runs smoothly (so far so good). We'll get it updated shortly.

[hrshak462]

why does it look like the block reward for the first block was 7,777,777 coins?

edit: ignore me if I'm being dummy noob

[HunterS]

why does it look like the block reward for the first block was 7,777,777 coins?

those are they coins that will be used to change the old sats people have to the new sats

[HunterS]

Anybody wanna send me a SAT2 (or part of one) to get my wallet wet?  Is this wrong?

i dont think u should be posting your wallet address in here . could get threat banned.have u read site forum rules

[hrshak462]

why does it look like the block reward for the first block was 7,777,777 coins?

those are they coins that will be used to change the old sats people have to the new sats

duh, my bad, but what will be done with the leftovers as all of the old ones will surely not be transitioned since they won't be up on the exchanges?

[hrshak462]

Anybody wanna send me a SAT2 (or part of one) to get my wallet wet?  Is this wrong?

*address removed*

i dont think u should be posting your wallet address in here . could get threat banned.have u read site forum rules

good call. my bad.  even if it's just for testing?  please edit it out of your reply if you could.

[Saturncoins]

why does it look like the block reward for the first block was 7,777,777 coins?

those are they coins that will be used to change the old sats people have to the new sats

duh, my bad, but what will be done with the leftovers as all of the old ones will surely not be transitioned since they won't be up on the exchanges?

We will review after the first transition how many coins of the old blockchain have been included. We're expecting to see a considerable %, considering that we have deliberately announced these plans a long time in advance. If need be, we will possibly run a second transition for those who missed the first one (we will either handle that with the exchanges, or possibly case-by-case). We will of course need to cut this off at some point since we can't keep on supporting the old blockchain forever.

All coins that are remaining after the transition phase is considered complete, will be destroyed. We have deliberately posted the block explorer right after the launch, to take care of complete transparency (in other words you will be able to follow the coins at all times, to rule out foul play). We are doing everything we can to provide complete transparency.

[hrshak462]

why does it look like the block reward for the first block was 7,777,777 coins?

those are they coins that will be used to change the old sats people have to the new sats

duh, my bad, but what will be done with the leftovers as all of the old ones will surely not be transitioned since they won't be up on the exchanges?

We will review after the first transition how many coins of the old blockchain have been included. We're expecting to see a considerable %, considering that we have deliberately announced these plans a long time in advance. If need be, we will possibly run a second transition for those who missed the first one (we will either handle that with the exchanges, or possibly case-by-case). We will of course need to cut this off at some point since we can't keep on supporting the old blockchain forever.

All coins that are remaining after the transition phase is considered complete, will be destroyed. We have deliberately posted the block explorer right after the launch, to take care of complete transparency (in other words you will be able to follow the coins at all times, to rule out foul play). We are doing everything we can to provide complete transparency.

Great, thanks for the response!