[ANN]SummerCoin|POS|10% per day in 5 days|New wallet

[Amph]

27 April... Summer is coming much earlier than I thought...

two months early not bad

probably he wanted to be the first to create the coin

[honghaisea]

i like it , but can not get it free,gaga

[Sircoss]

• PREMINE: NO, each block sends 300 200 coin for foundation support

Uh.... you need to get rid of the bold.  If you are going to try and back door coins to yourself you might as well just pre-mine because you are basically doing the same thing.

Its a little better than a premine IMO. Its basically like a 1.3% tax In a way its fair coz the dev needs something for his efforts right. Most coins have the same amount premined for bounties and bribes and other shit. By saying no premine and no IPO, you are essentially saying to the devs to code and spend their time for free. I think a dev of a coin needs a little more incentive to be there for the coin if something gets broken. You can't have that if the dev is in the same level as the miners.

It's the same thing as a pre-mine your just trying to call it something else so by him saying no pre-mine it makes this kind of suspect.  All this does is insures the dev wont dump all the coins he gets from the "tax" at one time while its still in the mining phase.  Roughly 6,666,666 coins will be given to the dev on this "tax", I would just prefer that this goes away in general and I'm sure the majority of people here would too.  A lot of the bounties this "tax" is for could be done free if you help build a good community with people wanting this coin to flourish or the bounties usually get paid by donations from the community.  I have seen this plenty of times before.

[SummerCoin]

It's the same thing as a pre-mine your just trying to call it something else so by him saying no pre-mine it makes this kind of suspect.  All this does is insures the dev wont dump all the coins he gets from the "tax" at one time while its still in the mining phase.  Roughly 6,666,666 coins will be given to the dev on this "tax", I would just prefer that this goes away in general and I'm sure the majority of people here would too.  A lot of the bounties this "tax" is for could be done free if you help build a good community with people wanting this coin to flourish or the bounties usually get paid by donations from the community.  I have seen this plenty of times before.

Are you kidding me?

[zuyfg888]

It's the same thing as a pre-mine your just trying to call it something else so by him saying no pre-mine it makes this kind of suspect.  All this does is insures the dev wont dump all the coins he gets from the "tax" at one time while its still in the mining phase.  Roughly 6,666,666 coins will be given to the dev on this "tax", I would just prefer that this goes away in general and I'm sure the majority of people here would too.  A lot of the bounties this "tax" is for could be done free if you help build a good community with people wanting this coin to flourish or the bounties usually get paid by donations from the community.  I have seen this plenty of times before.

Are you kidding me?

Can change the 500 million to 50 million?

[SummerCoin]

Can change the 500 million to 50 million?

why?

[zuyfg888]

Can change the 500 million to 50 million?

why?

50 million is a very good figure
Everyone will like it.

[Thrash]

It's the same thing as a pre-mine your just trying to call it something else so by him saying no pre-mine it makes this kind of suspect.  All this does is insures the dev wont dump all the coins he gets from the "tax" at one time while its still in the mining phase.  Roughly 6,666,666 coins will be given to the dev on this "tax", I would just prefer that this goes away in general and I'm sure the majority of people here would too.  A lot of the bounties this "tax" is for could be done free if you help build a good community with people wanting this coin to flourish or the bounties usually get paid by donations from the community.  I have seen this plenty of times before.

Are you kidding me?

I think your distribution may need some explaining. People see 500,000,000 total coins and 15,000 per POW block. And they think:

500,000,000 divided by 15,000 = 33,333 blocks  
33,333 times 200 = 6,666,666 coins

I believe this is wrong as it says POW height (height is misspelled by the way) is capped at 10,000. So I believe the calc should be:

15,000 time 10,000 = 150,000,000 total POW mined
10,000 times 200 = 2,000,000 tax to the dev in the first 5 days

Please correct me if I am wrong or verify it if the above is correct.

[LionOfNarnia]

Greetings, Mr Dev

Hello, future miners

I'm going to be turning my solitary HD7990 to this innovative coin on Sunday. Since the effective end of the PoW phase of ZeitCoin (Yes I am on the staff, but I'm NOT 'technical') I've mined Vert, Hiro & for the last couple of weeks, GiveCoin.

I will never go back to scrypt again!

It was bad enough having to put a large extractor fan (1000 cubic meters/hour) on my rig to keep the GPU temps below 90 degrees in the winter (it heated the whole cottage better than 5 radiators!) but now that scrypt-ASIC farms are erupting like zits on a teenager as well, the game is basically over for "little guys" like me for ALL the scrypt coins.

Even if this coin does have some 'question marks' at least I'm competing on a reasonably-even playing field with X-11. At least all the other 'hobbyists' will have the chance for a reasonable share of the pot, and the 'day-traders' will have SOME incentive to hang on to the coin for a good while instead of just auto-selling for a few cents profit & moving on.

The 'big boys' will be upset, of course. It's been REASONABLY peaceful here so far (Yep, I'm one of those weirdos who reads every single post in a thread before speaking) but that won't last. If the whales can't grab 60% of a coin by mining it, they scare the miners into panicking & selling cheap.

I'll be totally honest with you all - as this coin has no 'grand purpose' behind it, I will be using it as a tool to enable me to do other things, just like all of you.

But I'll never act in an unethical, untruthful or indeed unintelligent manner. I've learned the hard way that with only a single GPU (albeit a decent one ) I have to mine & trade SMART in order to survive. I've got quite good at it, especially with PoS. If you've never had the pleasure of seeing coin just roll into your wallet yet, stand by it's GREAT!

So, I'll leave you with one VERY pertinent question for the Dev...

Does the wallet incorporate 'coin control'?

If you lot don't know WHY that question is so vital, best do some research, huh?

[Sircoss]

It's the same thing as a pre-mine your just trying to call it something else so by him saying no pre-mine it makes this kind of suspect.  All this does is insures the dev wont dump all the coins he gets from the "tax" at one time while its still in the mining phase.  Roughly 6,666,666 coins will be given to the dev on this "tax", I would just prefer that this goes away in general and I'm sure the majority of people here would too.  A lot of the bounties this "tax" is for could be done free if you help build a good community with people wanting this coin to flourish or the bounties usually get paid by donations from the community.  I have seen this plenty of times before.

Are you kidding me?

I think your distribution may need some explaining. People see 500,000,000 total coins and 15,000 per POW block. And they think:

500,000,000 divided by 15,000 = 33,333 blocks  
33,333 times 200 = 6,666,666 coins

I believe this is wrong as it says POW height (height is misspelled by the way) is capped at 10,000. So I believe the calc should be:

15,000 time 10,000 = 150,000,000 total POW mined
10,000 times 200 = 2,000,000 tax to the dev in the first 5 days

Please correct me if I am wrong or verify it if the above is correct.

The bold is how I got my figure too.  I personally would prefer the 150,000,000 coin cap or less.  500,000,000 just seems too excessive.  Last thing you would want is to eventually be put on the LTC trade market because the coin cap was too high.  Also dev I'm not telling you how to make your coin, I'm just wanting it to be better than all the other trash that's been released.  This is the first x11 POS coin so it wont get raped by multipools like the others have been and I believe if this is done right it could be one of the better POS coins.  Just try and make it to were the next one that is done after yours wont be better.

[fartbags]

Does the wallet incorporate 'coin control'?

Can the dev please respond to this question.

[hashuniverse]

Is x-11 superior to N-scrypt?

[SummerCoin]

Does the wallet incorporate 'coin control'?

Can the dev please respond to this question.

Curently not, will update soon.

The bold is how I got my figure too.  I personally would prefer the 150,000,000 coin cap or less.  500,000,000 just seems too excessive.  Last thing you would want is to eventually be put on the LTC trade market because the coin cap was too high.  Also dev I'm not telling you how to make your coin, I'm just wanting it to be better than all the other trash that's been released.  This is the first x11 POS coin so it wont get raped by multipools like the others have been and I believe if this is done right it could be one of the better POS coins.  Just try and make it to were the next one that is done after yours wont be better.

You're wrong. Did you read the specifications? Only 10000 blocks to miner. I think you understand what i want to say.

And about coinmarketcap, we think about decrease everything 10 times such as: total coin 50 MIL, block RW 1500, foundation support: 20, and all bounty will decrease 10 times so. Just thinking and will have the answer soon.

Is x-11 superior to N-scrypt?

It's cooler and use less energy.

[techflag]

cool,less money on mining!

[fartbags]

This coin looks amazing

[greatwolf]

I recommend lowering the coin count somewhat to increase its perceived rarity. Other suggestion is why not make it a combination of PoW algorithms like myriad? I'm thinking something like sha3-keccek + X11 -- I think this will help with distribution.

[AltcoinAuthority]

Haha I knew it was only a matter of time before someone released SummerCoin!

[SummerCoin]

I recommend lowering the coin count somewhat to increase its perceived rarity. Other suggestion is why not make it a combination of PoW algorithms like myriad? I'm thinking something like sha3-keccek + X11 -- I think this will help with distribution.

That doesn't need. In my opinion, X11 is enough for Summer coin, easy mining with high hash rate, cooler enough with low power consumption.
We still thinking about decreasing total coin  

[hokus_pokus]

Ima mine this all summer long

How the fuck are you going to do that?  5 days of mining this chitty wok coin

[kingimg]

If you dont want to dump,
you can get your dev coins and tx coins at the POS stage,
eg:get your coins at day 15 to 45 stage.
I think this is much better,people wouldnt worry about the dump.