Our big problem is a
lack of trust among investors and traders (that is, anyone fears to be dumped by others). We have to solve it.
I propose to build up a mailing list of investors. To subscribe, one have to declare an address (or multiple ones) with a minimum number of coins in total (ie 1m). The system can validate the address(es) by asking to move a random number of coin between 0 and 1 to a donation address in a specific time frame. The subscription is valid until the coins remain untouched in the declared address(es). Each member can freely talk with others in order to build up confidence. Declared addresses, number of members and so on can be publicly available (something like
http://www.richlist.eu/whitecoin).
Without a minimum of confidence among "big" investors we don't go anywhere.
What do you think?
Would we accomplish the same thing if we (community members, large holders) identified ourselves on the richlist? Several people already have like Banger and Surfguy...
Identifying yourself on the richlist does not give you any warranty this people arent going to sell some or all of the coins they own.
That is the point of a mailing list: talk with other investors with a certain level of privacy to build trust. Richlist says nothing about the investors' intentions, actually it says nothing about how one person is rich (one can use multiple addresses as I do).
I'm open to hear different ideas and opinions. Thanks.
Hi everyone!
First the wallet looks awesome, great job to the Whitecoin Developers!
Second, Shair.com would like to propose a service that we believe will accomplish the above (and more):
--> Shair.com PoS Mining Pool
1. We would seed the initial PoS mining pool with +8M WC which would add to the overall stake available for shairing
2. Anyone can join however there would be a minimum WC deposit required of 150,000 WC
3. For all whom participate, there is a minimum hold period of 4 weeks from initial deposit to become eligible for shair in the staking amount
4. Staking coins would be distributed every 2 weeks or perhaps a monthly basis (this is still under discussion)
5. The Staking amount/distribution proposed could be as follows:
* 20% donated to WCF
* 20% retained by Shair + reinvested for increased overall amount available to stake
* 60% distributed to 3 participants (this may be extended to more than this amount, still to be completely determined by our PoS minin algo) based upon an algorithm we would deploy - 60% #1, 25% #2, 15% #3 (the amounts of payouts is used as an example)
[EDIT] Example:
if you were to stake 150,000 WC = 2% = 3000 WC
if you were to stake 8M + WC = 2% = 160,000 WC which 60% (96,000) would be paid out to participants
If you were to stake 20M+ WC = 2% = 400,000 WC which 60% (240,000) would be paid out to participants
==> the amount to be paid out, will be determined by the eligible participants
==> There would also be a steady donation stream to WCF for operations and development
Therefore, if you had 150k WC the max you could realize would be approx 3000WC but if you participated in the PoS mining pool, you would realize much more than that (as above)
NOTE: any deposit of 150k+ would be eligible, therefore if you had multiple deposits, in theory you could secure #1, #2 and #3 spot in the same payout period.
Additionally, we could facilitate the purchase "Shairs" through our systems (shairs due to B-c31) which could then be exchanged for WC:
Purchase "shairs", exchange it to WC - manually send to your address. There would be a fee for this service however we have recently cleared a process with our lawyers which could accommodate this type of process (with refinement required)....
So whats currently on the table by Shair as it relates to the above discussions:
1. Shair.com PoS mining pool with payout structure to participants + donation % to WCF development fund
2. Ability to facilitate the purchase of WC through shair's (purchasing shairs is allowed by law, WC not as it would go against B C 31), which can then be converted to WC with a small transaction %
Shair would be foregoing 80% of its staking on 8M +WC, therefore you could consider this not only a donation to the WCF but a contribution back to participating community members of Whitecoin!
We are ready to have a final review/modifications by our lawyers prior to beginning developing this system however you need to show us that you want us to invest our WC, Development and Energies in making this process!
PS - this is to help the community, WCF and assist in increasing incentive's for people to stake WC (the payout to be more than if they were to stake their own WC.)
Jason Arnold
COO Shair.com
VP WCF
EDIT - adding questions/clarifications from PM's received
1. Can you clarify how the PoS will work?
* Shair would be providing over 8 Million Whitecoins in a staking wallet and will be awarding up to 80% for a minimum of the next 4 months of the staked Whitecoin. All participants deposited Whitecoin would be added to this amount which will increase the total amount and the amount of staking Whitecoin available therefore instead of paying interest to shairholders, this is combined for a total payout at the appropriate times.
For example:
10 participants = 1,500,000 Whitecoin
Shair initial amount = 8M+ Whitecoin
Total amount eligible to stake (total wallet amount) 9,500,000 WC
Staking amount = total wallet staking amount between payout periods
2. Why do you mention shairs?
*shairs is a virtual means of exchange for social sharing in our social exchange, these can be purchased for use in our social exchange, therefore we could offer these for purchase which then could be exchanged for Whitecoin. This would then be offered to people outside of the current crytposphere introducing Whitecoin to them. We would revamp this process so that 1 shair = 150k WC, therefore new users could purchase this amount, we would hold the WC for them and they would also become eligible for staking after the eligibility time had passed.
3. So you would hold Whitecoin, when could we get them back?
* you could request withdraw of your Whitecoin at any time, if you withdrew your Whitecoin before they became eligible, you would not be eligible for the payout period that you withdrew your Whitecoin.
4. Sounds like a cold storage service as well?
* you bet, we would be storing the deposited Whitecoin offline/in a backed up wallet. All deposits, payouts and withdraws would be manually processed.
5. so you mean that during this time, I wouldn't receive any staking?
*Correct, staking of any deposits goes into the main PoS pool for payout based upon an algorythm much like a traditional mining pool.
6. Would you be guaranteeing payout?
* all staked WC from the Shair.com wallet (8m+) would be paid out for the specified time period(s). 20% of this staked WC would be held for shair.com and reinvested, 20% would be donated to WCF, 60% would be paid out to participating members.
7. How do you become eligible for payout of the PoS mining staked amount?
* you will need to have deposited a minimum of 150k WC to our wallet address, 30 days maturity will need to happen (we hold the WC for 30 days) upon day 31, you would then become eligible for payout.
==> hope these answers help to clarify the proposal for you all
