[AC] AsiaCoin | Pure PoS | 100% Interest

[Dyna]

Dear Community (Important):

We need to finalize our decision on PoS staking rate of the coin. We put this up for debate many pages ago and a lot of you shared your ideas. I will try to summarize:

• The majority of you invested in the coin mainly of its high stake rate in the first year and named it as its main feature: therefore we will honour it.
• However, a lot of you raised concerns about the future and sustainability of the coin with a very high interest rate, which is a valid point. The original developer did not think about the future of the coin, and we don't think his decisions were in the interest of long term survival of the coin
• Sudden change in the staking rate is NOT good for the coin as it creates a sudden change of its most significant specitication.

What I proposed a few pages ago:

I personally think a swift change PoS rate from 70-100% to 2-5% is not a good idea, it's a very big change for a coin and its specification. I very much prefer a more slow gradual decrease on shorter intervals (e.g. instead of jumping from 100% in year 1 to 2% in year 2, we can do a slow decrease every 1-2 months until we get to 2% within 2-3 years).

I don't think the original developer thought about the long-term PoS issues of the coin, this is evident from the code he wrote but this is something that we need to decide.

And you guys mostly seemed to agree.

Details will be like this:

Coins now: 171,000,000

• Year 1, Month 1-2 : 100% - 199,500,000 AC
• Year 1, Month 3-4 : 80%  -  226,100,000 AC
• Year 1, Month 5-6 : 60%  -  248,710,000 AC
• Year 1, Month 7-8 : 40%  -  265,290,666.6 AC
• Year 1, Month 8-10: 30%  - 278,555,200 AC
• Year 1, Month 10-12: 20% - 287,840,373.3 AC. This is end of Year 1
• Year 2, Month 1-2 : 15% -   295,036,382 AC
• Year 2, Month 3-4 : 10%  - 299,953,655 AC
• Year 2, Month 5-6 : 8%  -  303,953,037 AC
• Year 2, Month 7-8 : 6%  -  306,992,568 AC
• Year 2, Month 8-10: 4%  -  309,039,185 AC
• Year 2, Month 10-12: 3% - 310,584,381 AC. This is the end of Year 2
• Year 3: 2% - 316,796,068
• Year 4: 2%
• ...
• Year 10: 2% - 363,899,103 AC
• Year 100: 2% - 2,162,700,201 AC

Note: These numbers are the maximum, if 100% of the coins stake all the time. This will not be the case obviously. So the actual total coin numbers will be significantly less but there is no way to know as we don't know what percentage will stake. This new staking system will be unique to our coin too, adding innovation to our investments!

I ask to postpone other discussions now to when we agreed to PoS staking rate, as this is what we need to decide on urgently. We can't do a poll as the thread is not self-moderated. That was essential for building trust.

Please let us know if you agree with this, and of course (even more importantly), if you disagree.

It's a good idea! But it is too elaborate, confusing (to the vast majority of people), and even more complicated to implement for you!
I would go for something more simple and effective

I agree. Keep it as simple as you can to get the best impact. For the first two years, adjust every six months. After that keep it constant.
The first period of six months should be the most attractive to attract the largest number of investors. Interest rate of 60% to 100% is a great selling point. Make it very simple and easy to understand. Avoid potential confussion as much as possible.

This community has been doing an outstanding job. Our industry needs a lot more people like you. There is nothing wrong for the community to join force to save their investment and that of others who innocently invested their hard earned dollars in Asiacoin. You are an inspiration to all of us. I will do what I can to support your efforts. For full disclosure I own bitcoin and various altcoins including Asiacoin.  I am also the cofounder of DNotes and Cryptomoms.

[1714035979]

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[Kazulya]

When a new wallet will be available to all?

[cassius69]

The amount of troll in this thread shows that revived Ac will be a great success. The only people now panic are the trolls, so please don't feed these trolls.

some days ago you were one of the loudest, accusing everybody presenting proof of the asiacoin scam of "spreading fud" and only "planning to buy cheap coins."

does not look like you've learned anything. you should be ashamed.

he wants to get his three rupees out before the shit hits the fan.

can you imagine a coin with all sellers and no buyers? i can. its this piece of shit scamcoin.

[Kazulya]

The amount of troll in this thread shows that revived Ac will be a great success. The only people now panic are the trolls, so please don't feed these trolls.

some days ago you were one of the loudest, accusing everybody presenting proof of the asiacoin scam of "spreading fud" and only "planning to buy cheap coins."

does not look like you've learned anything. you should be ashamed.

he wants to get his three rupees out before the shit hits the fan.

can you imagine a coin with all sellers and no buyers? i can. its this piece of shit scamcoin.

and I will buy and sell as many here

[Maestro1]

When a new wallet will be available to all?

Our ETA is tonight but only if we receive confirmation from exchanges that they have upgraded their wallets (all of them have been informed). The work on the fix is finished, but we can't release it to the public while exchanges could still be on the old wallet, that could cause big problems.

[zmhaha]

Dear Community (Important):

We need to finalize our decision on PoS staking rate of the coin. We put this up for debate many pages ago and a lot of you shared your ideas. I will try to summarize:

• The majority of you invested in the coin mainly of its high stake rate in the first year and named it as its main feature: therefore we will honour it.
• However, a lot of you raised concerns about the future and sustainability of the coin with a very high interest rate, which is a valid point. The original developer did not think about the future of the coin, and we don't think his decisions were in the interest of long term survival of the coin
• Sudden change in the staking rate is NOT good for the coin as it creates a sudden change of its most significant specitication.

What I proposed a few pages ago:

I personally think a swift change PoS rate from 70-100% to 2-5% is not a good idea, it's a very big change for a coin and its specification. I very much prefer a more slow gradual decrease on shorter intervals (e.g. instead of jumping from 100% in year 1 to 2% in year 2, we can do a slow decrease every 1-2 months until we get to 2% within 2-3 years).

I don't think the original developer thought about the long-term PoS issues of the coin, this is evident from the code he wrote but this is something that we need to decide.

And you guys mostly seemed to agree.

Details will be like this:

Coins now: 171,000,000

• Year 1, Month 1-2 : 100% - 199,500,000 AC
• Year 1, Month 3-4 : 80%  -  226,100,000 AC
• Year 1, Month 5-6 : 60%  -  248,710,000 AC
• Year 1, Month 7-8 : 40%  -  265,290,666.6 AC
• Year 1, Month 8-10: 30%  - 278,555,200 AC
• Year 1, Month 10-12: 20% - 287,840,373.3 AC. This is end of Year 1
• Year 2, Month 1-2 : 15% -   295,036,382 AC
• Year 2, Month 3-4 : 10%  - 299,953,655 AC
• Year 2, Month 5-6 : 8%  -  303,953,037 AC
• Year 2, Month 7-8 : 6%  -  306,992,568 AC
• Year 2, Month 8-10: 4%  -  309,039,185 AC
• Year 2, Month 10-12: 3% - 310,584,381 AC. This is the end of Year 2
• Year 3: 2% - 316,796,068
• Year 4: 2%
• ...
• Year 10: 2% - 363,899,103 AC
• Year 100: 2% - 2,162,700,201 AC

Note: These numbers are the maximum, if 100% of the coins stake all the time. This will not be the case obviously. So the actual total coin numbers will be significantly less but there is no way to know as we don't know what percentage will stake. This new staking system will be unique to our coin too, adding innovation to our investments!

I ask to postpone other discussions now to when we agreed to PoS staking rate, as this is what we need to decide on urgently. We can't do a poll as the thread is not self-moderated. That was essential for building trust.

Please let us know if you agree with this, and of course (even more importantly), if you disagree.

It's a good idea! But it is too elaborate, confusing (to the vast majority of people), and even more complicated to implement for you!
I would go for something more simple and effective

I agree. Keep it as simple as you can to get the best impact. For the first two years, adjust every six months. After that keep it constant.
The first period of six months should be the most attractive to attract the largest number of investors. Interest rate of 60% to 100% is a great selling point. Make it very simple and easy to understand. Avoid potential confussion as much as possible.

This community has been doing an outstanding job. Our industry needs a lot more people like you. There is nothing wrong for the community to join force to save their investment and that of others who innocently invested their hard earned dollars in Asiacoin. You are an inspiration to all of us. I will do what I can to support your efforts. For full disclosure I own bitcoin and various altcoins including Asiacoin.  I am also the cofounder of DNotes and Cryptomoms.

I respectfully disagree.
General population does not react well to any sudden changes especially in crypto world.
A gradual, more frequent, but equivalent to the original rate, would be much better.
Although the only advantage of this is to mollify the effect of sudden changes caused by the original 100% to 2% adjustment yearly, I think it is a big big advantage that outweighs the downsides, i.e "too elaborate" for average people to grasp.
People use banks, deal with APR all the time. I am sure any average person can just take like 2 mins to read the PoS rate schedule and will grasp the most of it.

[Dyna]

I think we need more asian language representation here..

AsiaCoin guys.. needs to market to asians right?

I am a Chinese Malaysian American who was given a great deal of world wide news coverage in the 1990s when I was in the mobile computer business. Would the community think if it could be helpful for me to see if we can get some positive press using that angle?  I am aware that there is already some negative and unfair press on your efforts so far. That was most unfortunate and should be neutralized with a positive and inspiring story. Let me know if you feel that I can be helpful.

[CryptoSteam]

Guys, please be patient. The new wallet will be released when we get confirmations from the exchanges to make this roll out as smooth as possible.

For those who do not understand the new POS schedule, it will go like this:

Coins now: 171,000,000

Year 1, Month 1-2 : 100% - 199,500,000 AC
Year 1, Month 3-4 : 80%  -  226,100,000 AC
Year 1, Month 5-6 : 60%  -  248,710,000 AC
Year 1, Month 7-8 : 40%  -  265,290,666.6 AC
Year 1, Month 8-10: 30%  - 278,555,200 AC
Year 1, Month 10-12: 20% - 287,840,373.3 AC. This is end of Year 1
Year 2, Month 1-2 : 15% -   295,036,382 AC
Year 2, Month 3-4 : 10%  - 299,953,655 AC
Year 2, Month 5-6 : 8%  -  303,953,037 AC
Year 2, Month 7-8 : 6%  -  306,992,568 AC
Year 2, Month 8-10: 4%  -  309,039,185 AC
Year 2, Month 10-12: 3% - 310,584,381 AC. This is the end of Year 2
Year 3: 2% - 316,796,068
Year 4: 1%
Year 5: 1%
Year 6: 1%
...
Year 10: 1%
Year 100: 1%

The estimated amount of AC listed next to the percentages are if all AC coin supply gets staked, which will obviously not happen as AC will constantly be moving around between exchanges and wallets.

The min coin age will be 2 weeks to encourage people to be committed to staking their coins for maximum return.

Again, the wallet will get released to the general public as soon as the exchanges confirm.

[CryptoSteam]

I am a Chinese Malaysian American who was given a great deal of world wide news coverage in the 1990s when I was in the mobile computer business. Would the community think if it could be helpful for me to see if we can get some positive press using that angle?  I am aware that there is already some negative and unfair press on your efforts so far. That was most unfortunate and should be neutralized with a positive and inspiring story. Let me know if you feel that I can be helpful.

+1. We welcome you as part of the community. Let's get some positive press rolling out.

[avw1982]

AsiaCoin Reverse-Scam

The aim of the project is to remove the premined coins. We have developers onboard to do this and work is already underway.

Background: AsiaCoin was launched as a coin with high potential, but the developer had hidden a code inside that hid a significant amount of pre-mine. This was made public earlier, and now the community is trying to revive AsiaCoin, with the support of its members and those who invested in AsiaCoin, to fix the issue, and relaunch the coin with a hard fork. Cryptsy has already risen voice that they are willing to list AC again, if the premine issue is fixed.

You can visit http://cryptosteam.com/ for a list of people who lost their AC, there are a significant amount of money and investment at stake. If you want to be added to the list, send a PM to CryptoSteam.

http://www.thecoin.asia

As the developers are working on the issue, we welcome new developers who are interested (we need you), but also we need help with other aspects of the revival, such as:

• New Website (design and hosting): Many thanks volunteers!
  
• New Logo: We have one! [link], new ideas/logos also welcome
• Social Media Activity: I created a new Twitter account for now but we need a couple of people who can be active besides myself
• Creating a video: We need a volunteer
• Pool developer/manager: We need a volunteer

Timeframe:

We aim to release the fix by 7th of May.

Official Twitter: Asia Coin Community

Follow, Retweet, spread the word that AC is not dead.

Official Facebook: Asia Coin

Like and Share! Let's spread the word!

Official Sub-Reddit[

------

Donations (BTC): 152yiX71NJpvQPQJ41Z9ZYt4WnYGvbAfJc Goal: 5 BTC for development, 5 BTC for marketing
Status: 0.14 of 10 BTC
Note: only micryon has access to the coins.

Donations (AC): We will enable AC donations after we fixed the issue.

-----

This thread is NOT self-moderated. We need transparency and trust, but please do not spam as I won't be able to delete them!

Btc send. Come on. They doesnt even got 10%

i think a lot of people don't have access to their AC coins. Thats maby the reason....

Everyone got some BTC left for this .

Will donate when the wallet is live.

[crazycoin798]

scam scam go to hell

[CryptoSteam]

scam scam go to hell

We have been very transparent from the beginning. We have been working very hard to help everyone save their investments. A great community has come together to make this possible.

Now if you have nothing positive to say, can you please kindly leave.

[D05GTO]

Did anyone contact ByronP on the Atomic-Trade exchange??

[tobi69]

hi is anyone here willing to buy my asia coin? in 1ac : 0.00000950btc
i have 110924.86503200 ac i bought it @ 0.00001367

[drmadcat]

Is there a chance there is more hidden code?

No, not the code.. I diff'd the code line by line against other coins already and found all the deltas.  All the bad code has been removed and reverted with the fixed client.

However I didn't look through all the blockchain, I relied on block explorers to look at the key places in the blockchain that relates to the premine... of course there are thousands other transactions that I didn't look at.. I just traced the premine from the original block, and looked at all blocks where it traversed to.

Thats great

[slavo]

Good luck micryon and maestro; will we see AC on exchanges today ?  

I'll donate some AC when fix is here.

Cheers

[ozrep]

I read
*Creating a video: We need a volunteer

Wasn't here someone who was doing it? I'm confused.

@Maestro1
count me in if you want italian translations

[slavo]

hi is anyone here willing to buy my asia coin? in 1ac : 0.00000950btc
i have 110924.86503200 ac i bought it @ 0.00001367

Can I buy 1AC ? i have 0.0000944btc maybe can i have a discount?

cheers

[CryptoSteam]

I read
*Creating a video: We need a volunteer

Wasn't here someone who was doing it? I'm confused.

@Maestro1
count me in if you want italian translations

Yes, Dmann is working on the video. Maestro1 will count you in for the italian translations. BTW, I'm Italian.

[chiznitz]

I see there is suppose to be a new source, However,  I was not contacted.  If i had been contacted with the source I'd have it ready to go :-/