[ANN] (WC) | WhiteCoin | BIG NEWS: Foundation, investors & more ☯ whitecoin.info

[*Sakura*]

I feel like you are putting words in my mouth...

"Especially when you are saying it would not be a one-to-one buy in."

I never said this.  I will also be clear that I'm not on the dev team...I've made a couple suggestions as to how I think it might make sense to move forward.  I am anxious to hear what the official proposal will be, and I'm hoping we hear that soon so that we can focus our discussions on what is actually possible.

I don't think adding a coin like WOC to the WCF that has additional features says anything about WC.  I am hoping that both can be managed with the same wallet.  Again my personal opinion is that we swap some of the WC for WOC...kind of like what Caishen did.  A few less WC (50 million or so) will make WC slightly more valuable, and allow for a solid kick off/IPO for WOC.  Again, bringing new attention and investment to the new Dev team through the WCF.   

I think the slight reducition in WC supply for the IPO of WOC is a the way to go.

staking directly into WOC instead of WC would increase value of WC simply by not increasing WC supply anymore. mining WOC with WC staking

This is the same idea I brought up a few days ago. Who do we need to get in contact with to find out if this is possible to create.

I liked this idea too!

+100500
This will help to development of both coins - WC and WOC.

[WhiteNotWright]

I feel like you are putting words in my mouth...

"Especially when you are saying it would not be a one-to-one buy in."

I never said this.  I will also be clear that I'm not on the dev team...I've made a couple suggestions as to how I think it might make sense to move forward.  I am anxious to hear what the official proposal will be, and I'm hoping we hear that soon so that we can focus our discussions on what is actually possible.

I don't think adding a coin like WOC to the WCF that has additional features says anything about WC.  I am hoping that both can be managed with the same wallet.  Again my personal opinion is that we swap some of the WC for WOC...kind of like what Caishen did.  A few less WC (50 million or so) will make WC slightly more valuable, and allow for a solid kick off/IPO for WOC.  Again, bringing new attention and investment to the new Dev team through the WCF.  

I think the slight reducition in WC supply for the IPO of WOC is a the way to go.

staking directly into WOC instead of WC would increase value of WC simply by not increasing WC supply anymore. mining WOC with WC staking

This is the same idea I brought up a few days ago. Who do we need to get in contact with to find out if this is possible to create.

Help me understand this concept a little more. Generally, I keep a few million in the wallet and stake and get a few coins at about 2% with WC. This rest of the coins (as with many others) I trade on the open market to make profit or obtain more coins (on a good day). In comparison, my return is a lot more with trading although a little more risky than keeping it safe with the stake. Having said that, and based on this WOC stake suggestion, how many coins could you expect to stake of to WOC. Would the interest rate be different? Would you still need to on-ramp through WC or would you also be able to purchase WOC on the open market like any other ALT coin out there?

[waligu]

I really don't understand the discussion for Whiteout and what it can help..... or better if it will help for the future.
If i read everything right (english isn't my motherlanguage) you want ano and also to get registered in canada. Ok if WC for itself gets "fully" ano its bad for staking and problems. That's for sure. I think also it is bad
for official registering. So a second coin. Which somehow nobody knows at the moment is connected to wc. (the staking idea is the best idea i heard so far)

maybe i am not smart enough but help me out

if i can't buy it on the market there won't be any interesst, so far i am right?
if there is no interesst so it wouldn't help.
If i can buy it on the market it is only another crappy coin...... with another price which can easily die out after weeks.

the only funny thing is that no other coin has the idea to integret a second coin at the moment. but somethingelse i don't know.

[Jacques de Molay]

I really wish you guys never ever got tf2honeybadger to ever help you.  He will lie hard (in poloniex chat mind you) about how he was fucked over by whitecoin, but when I read the pastebins I understand he was the problem.

Anyway, I just seen it said again and this time I was like nah fuck you.

[Khelgaar]

Hey Everyone,

So here is my thought process on how we'd work the IPO. This is of course just an informal proposed course of action, anything is open for discussion or change at this point.

I would propose we carry out a 5% premine, which would translate to 1.5 Million WOC if there were a total of 30 million to be mined.

WOC would have an extended mining period similar to bitcoin's, many years, taking place using a bell curve block reward system.

By using the bell curve block reward, it encourages a fair launch, and also in the initial stages makes mining the coin difficult, which means that the IPO could continue after mining begins. Using this, we could offer the IPO for a month before the coin's launch, and then continue to offer it for approximately two weeks before block rewards would begin to ramp up. We could also extend this period if we wanted.

This would ensure that the majority of the coins in circulation in the first few months are largely the result of the IPO, and therefore of direct benefit to WC prime. With slow release of new coins mined over time would we can also offer stability to those who wish to buy in.

I would suggest that the coins bought via the IPO be released in 3 stages over the period of a 30-60 days to prevent flooding the market, and each person that bought in via WC would be paid out according to a "first come first serve" basis on a set schedule to ensure that there is not a radical shift in available coins on the markets.

I believe the price of the IPO package (let's say we sold them in bundles of 1000 coins) should be fixed according the ratio difference of total coins between WC and WOC, and sold in fixed numbers daily over the course of the 60 days to prevent one whale buying them all up on day 1, defeating the ongoing purpose of this. So 1000 WOC would cost 10000 WC. Factoring this out, 1.5 million WOC offered in the IPO would translate to 15 million WC, which is a large percentage of the WC currently held on major exchanges. According to my calculations, if we carried it out this way, approximately 30% of the coins used for active day trading now would be essentially put into cold storage for years.

I would suggest that a small but respectable fraction of what's accumulated via the IPO be split up among the operations team to provide incentive and fair pay for their work. The remainder would be reserved for future development of specific items by the foundation, and in my opinion should be released in stages over a period of years, to provide an extended period where there are less WC on the market.

The financial plan for the funds gained via the IPO in the form of WC could only be changed via an act of the General Assembly of the Foundation with agreement from the Operations team (acting as a senate and parliament, if you'd want a real world example). The funds would of course be managed in a transparent manner similar (if not more transparent) to how they are managed currently by the foundation.

Finally, to ensure the momentum stays with WC prime, I believe we would need to time the release of a hot new feature for WC for around the time of the end of the IPO. One suggestion I've heard is to implement changes to speed up WC's transfer and confirmations times, so that we could market it as the ultimate arbitrage coin.

Factoring in economics, democratic inclusion, transparency, and accountability, I think that this project could show the larger markets what we're really capable of.

I look forward to everyone's thoughts! It's Canada Day here tomorrow, so I probably won't be online too much. But I'll be reading where I can and it's hard at work with press engagement as soon as the holiday is done.

All the best, and happy Canada Day!

Chris

well implementing WOC had to be done carefully and be well thought out. Good ideas there and sounds like you've factored in as many possible outcomes as there are foreseeable ones.

just to bump this bit from before

Mogonzo, in your latest post you say you see the future of Cryptos being focused on companion coins. Could you flesh out why you think this is the case?

I don't really see the benefit of another coin, I understand that its better for WC itself as you state about the blockchain and inherent weaknesses in anon, but if you could justify why you think companion is the future and how WOC will be a benefit, as you say anon is something people 'currently' want, which you allude to the potential of it being a current fad.

thanks

Hey, I'm going to take our conversation from IRC and expand for your answer here so others can see. Blitz and I had a chat about this in #chunky earlier.

basically, I think it's going that way because most of the 700 coins that have been made, are the product of only a handful of groups and coders. Most of these coins, they make, pump them up, and then ditch out onto the next project, but the market is getting wise to this and wc is the perfect example, because even though the devs may change personas, they can't change their code. So in WC's case for example we were able to figure out a path of coins the previous dev had made.

so I think that very soon most of those "coins of the week" devs are going to be forced to either withdraw from the crypto dev scene, or change their tactics. Because I do think that while part of the development of these new coins is only profit based, the reality is there is another factor too, and that is innovation. Alot of coinse currently available have limits as to what can be done to improve them, which requires creating new blockchains.

We're already seeing dead coins resurrected as sequels, so I think that very soon we're going to see these groups move towards offering different coins, at different total coin count and mining time intervals, with linked devlopment and marketing. The rest, has to do with flexbility in offering unique features, WC can have a certain set of improvements made to it but we can only divert so far from the original without having to do something wild with the blockchain.

I'm starting to think of cryptocoins as no different than any other online service. And if you think of it in those terms, you could look at social media and get a feel for how it should factor out of a large period of time. Generally, users migrate from one big platform they like of a service only when something new becomes available that takes many services they had to use previously and combines them into one.

So like ICQ took IRC to the next level, and facebook did the same with myspace, taking the primary features of the previous big platform and then integrating all the niche platform features that had cropped up in the meantime.

I think crypto one day has to go the same way, and companion coins are the only real answer. Coding is only half the battle on the innovation front, coins have to have a purpose to exist. WC's can be very, very flexible in that regard if we always maintain it as our top priority and focus, even if new features have to be developped on the side. Is WhiteOutCoin the first step in this? Maybe we're not ready, maybe the market isn't ready. But one day someone is going to do this and I think I'd prefer WC to be the innovator even if privacy features aren't on my personal priority list as a user of WC.

Hope that explains it.

Just a reminder about WOC for those who have not read the previous posts... 

Do we need some innovation, definitely yes... So let's wait for an official announcement from the Dev Team. A lot of the ideas proposed, and in a sea of ​​them, do not know which way to look and what to look for... 

I just hope that we will soon have some news from Mindfox and Mogonzo


Cheers
B.

[Khelgaar]

I really wish you guys never ever got tf2honeybadger to ever help you.  He will lie hard (in poloniex chat mind you) about how he was fucked over by whitecoin, but when I read the pastebins I understand he was the problem.

Anyway, I just seen it said again and this time I was like nah fuck you.

Ahhh, ghosts from the past 

He still talk about WC? Let him talk, how would people say, any commercial is good commercial. Even if you talk dirty.   

[Khelgaar]

Guys, any news on a new wallet?
Guys, any news on a new wallet?
Guys, any news on a new wallet?
Guys, any news on a new wallet?

 

cheers
B.

Edit: seriously, any news would be great 

[neoxxx]

| WhiteCoin PRIVACY features POLL | VOTE NOW! |
                   

[leonar76]

good move, i believe wc.

[cryptohunter]

anything happening in the last few days? come on dev team announce something worth getting excited over.

WOC - 36 million coins - you can only buy for WC ....10 WC = 1WOC (i prefer just whiteout really over whiteout coin)

6 million dev pot held in  public transparent wallets

all un purchased WOC coins also held in pubic transparet wallets.

Let's use the WC people pay with for the WOC coins for development and marketing. Same for the 6 million WOC pot.

These pots can be monitored with alerts so if the coins are moved with out community consultation the markets for wc and woc can be shut down.

Let's get on with it. WOC must be an amazing coin or don't even bother since it is not amazing in every way with a great anon whitepaper, sms wallets all the bells a whistles then it is not worth starting.
However if it looks great people will buy it and we will have the development funds to push out something amazing.

[WhiteNotWright]

Let us stick with WC, the original coin. I voted no to WOC as it seems like just another shitcoin idea

anything happening in the last few days? come on dev team announce something worth getting excited over.

WOC - 36 million coins - you can only buy for WC ....10 WC = 1WOC (i prefer just whiteout really over whiteout coin)

6 million dev pot held in  public transparent wallets

all un purchased WOC coins also held in pubic transparet wallets.

Let's use the WC people pay with for the WOC coins for development and marketing. Same for the 6 million WOC pot.

These pots can be monitored with alerts so if the coins are moved with out community consultation the markets for wc and woc can be shut down.

Let's get on with it. WOC must be an amazing coin or don't even bother since it is not amazing in every way with a great anon whitepaper, sms wallets all the bells a whistles then it is not worth starting.
However if it looks great people will buy it and we will have the development funds to push out something amazing.

Yes, WOC sounds like a great new ALT coin that should be totally separated from WC.

[cryptohunter]

Let us stick with WC, the original coin. I voted no to WOC as it seems like just another shitcoin idea

anything happening in the last few days? come on dev team announce something worth getting excited over.

WOC - 36 million coins - you can only buy for WC ....10 WC = 1WOC (i prefer just whiteout really over whiteout coin)

6 million dev pot held in  public transparent wallets

all un purchased WOC coins also held in pubic transparet wallets.

Let's use the WC people pay with for the WOC coins for development and marketing. Same for the 6 million WOC pot.

These pots can be monitored with alerts so if the coins are moved with out community consultation the markets for wc and woc can be shut down.

Let's get on with it. WOC must be an amazing coin or don't even bother since it is not amazing in every way with a great anon whitepaper, sms wallets all the bells a whistles then it is not worth starting.
However if it looks great people will buy it and we will have the development funds to push out something amazing.

Yes, WOC sounds like a great new ALT coin that should be totally separated from WC.

WOC is an anon version of WC. WC  needs to be bound to it. The funds to push development of WOC will be generated from WC.  

It could work against WC to have anon implementation, also funding needs to come from somewhere.

[tw0rak]

Copy from few weeks ago post:

Timeline & Roadmap

June 25th-29th: Commmunity discussion and planning
June 30th - July 3rd: Target window for Pre-Ann thread and website launches
July 5th - 8th: Target window for the launch of our IPO and official Ann thread
July 25th - 31st: Target window for launch of WhiteOutCoin

So where are we now in this roadmap?

[WhiteNotWright]

Let us stick with WC, the original coin. I voted no to WOC as it seems like just another shitcoin idea

anything happening in the last few days? come on dev team announce something worth getting excited over.

WOC - 36 million coins - you can only buy for WC ....10 WC = 1WOC (i prefer just whiteout really over whiteout coin)

6 million dev pot held in  public transparent wallets

all un purchased WOC coins also held in pubic transparet wallets.

Let's use the WC people pay with for the WOC coins for development and marketing. Same for the 6 million WOC pot.

These pots can be monitored with alerts so if the coins are moved with out community consultation the markets for wc and woc can be shut down.

Let's get on with it. WOC must be an amazing coin or don't even bother since it is not amazing in every way with a great anon whitepaper, sms wallets all the bells a whistles then it is not worth starting.
However if it looks great people will buy it and we will have the development funds to push out something amazing.

Yes, WOC sounds like a great new ALT coin that should be totally separated from WC.

WOC is an anon version of WC. WC  needs to be bound to it. The funds to push development of WOC will be generated from WC.  

It could work against WC to have anon implementation, also funding needs to come from somewhere.

My point exactly. You are robbing Peter to pay Paul.

[surfguy72]

| WhiteCoin PRIVACY features POLL | VOTE NOW! |
                   

Wow, was not expecting to see practically the same amount of votes on all 3 choices.

[malbee]

Copy from few weeks ago post:

Timeline & Roadmap

June 25th-29th: Commmunity discussion and planning
June 30th - July 3rd: Target window for Pre-Ann thread and website launches
July 5th - 8th: Target window for the launch of our IPO and official Ann thread
July 25th - 31st: Target window for launch of WhiteOutCoin

So where are we now in this roadmap?

I think we are all pretty interested in getting an update regarding this....

[dusan]

| WhiteCoin PRIVACY features POLL | VOTE NOW! |
http://en.clipart-fr.com/data/webmaster/arrows/arrow_036.gif          http://en.clipart-fr.com/data/webmaster/arrows/arrow_036.gif          http://en.clipart-fr.com/data/webmaster/arrows/arrow_036.gif
https://i.imgur.com/3jTXCqW.jpg

Wow, was not expecting to see practically the same amount of votes on all 3 choices.

so ideally it should be:
integrated privacy feature in WC, but as separate option, thus pleasing everyone

a plugin system:
so its up to individual user to download and use "whiteout" plugin.
this plugin would only work with WC

and then you could use this plugin framework to add more downloadable features

I support this idea, i think it is best option.

[Prototyp]

anything happening in the last few days? come on dev team announce something worth getting excited over.

WOC - 36 million coins - you can only buy for WC ....10 WC = 1WOC (i prefer just whiteout really over whiteout coin)

6 million dev pot held in  public transparent wallets

all un purchased WOC coins also held in pubic transparet wallets.

Let's use the WC people pay with for the WOC coins for development and marketing. Same for the 6 million WOC pot.

These pots can be monitored with alerts so if the coins are moved with out community consultation the markets for wc and woc can be shut down.

Let's get on with it. WOC must be an amazing coin or don't even bother since it is not amazing in every way with a great anon whitepaper, sms wallets all the bells a whistles then it is not worth starting.
However if it looks great people will buy it and we will have the development funds to push out something amazing.

Yes, i think this ist the best way. A new coin also brings new attention and a new chance. With good features, a fair and transparent start, I see a better future.
The whitecoin community was very strong but the negative past discourages new investors.
WOC is a great chance when behind a good concept and team standing. The community of whitecoin we have already.

[malbee]

anything happening in the last few days? come on dev team announce something worth getting excited over.

WOC - 36 million coins - you can only buy for WC ....10 WC = 1WOC (i prefer just whiteout really over whiteout coin)

6 million dev pot held in  public transparent wallets

all un purchased WOC coins also held in pubic transparet wallets.

Let's use the WC people pay with for the WOC coins for development and marketing. Same for the 6 million WOC pot.

These pots can be monitored with alerts so if the coins are moved with out community consultation the markets for wc and woc can be shut down.

Let's get on with it. WOC must be an amazing coin or don't even bother since it is not amazing in every way with a great anon whitepaper, sms wallets all the bells a whistles then it is not worth starting.
However if it looks great people will buy it and we will have the development funds to push out something amazing.

Yes, i think this ist the best way. A new coin also brings new attention and a new chance. With good features, a fair and transparent start, I see a better future.
The whitecoin community was very strong but the negative past discourages new investors.
WOC is a great chance when behind a good concept and team standing. The community of whitecoin we have already.

+1

[tevayo]

WOC brings nothing to WC unless it is created as a tool WC and accessible only through it.
Its launch if it is not subject to that link with WC, is similar to dozens of coins continuously born and ever more implementations and development and I see no reason that it should "inherit" the community WC community. I think we should focus on improving what we have (and we've invested) to improve their marketing, and their adoption by the general public which is what will really give a value to WC.