[AC] AsiaCoin | Pure PoS | 100% Interest

[johntseng]

For anyone that wants to help me test "the happy path", you can send me a coin to this client using your existing client.  Address: AT1hm5R4JSjkHsDcscsLb6co3oJ2JZft6Z

test coin sent

1 also

+1 sent

send back add:
ALmM4QaxVQf6LAdTS1JaFQnx2Y3eBZVKdu

[CapSER2.0]

With the original specifications so far AC worked very well with much acceptance in your community. That's what matters most!
Perhaps one should not deviate too much from the original specifications, beyond that I like it or not
There will even be a long time in the future to make another change for a better update! hahaha

No man this is best because discussion has been going for too long as i say this is the elixer we need to move forward.

I accept what you say the DEV team and most of the community!

[CapSER2.0]

I ask only that:
Min stake age: 8 hours, no max age

[crypto_bull]

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.

Agree.

[micryon]

hey who all sent me test coins again?

I got:
  4 1's
  1 100
  1 10

[CapSER2.0]

once this is back up I promise to make AC donation to the dev team..  and everyone who is granted a second chance to recover $$ should be grateful to this group of DEV's and do the same thing.

I agree!

[Collegestudent]

I repeat come to IRC #ACRevival

[johntseng]

For anyone that wants to help me test "the happy path", you can send me a coin to this client using your existing client.  Address: AT1hm5R4JSjkHsDcscsLb6co3oJ2JZft6Z

test coin sent

1 also

+1 sent

send back add:
ALmM4QaxVQf6LAdTS1JaFQnx2Y3eBZVKdu

Received Successfully.

[fpmk]

i hope people will not dump coin, when it released on exchanges

[Collegestudent]

i hope people will not dump coin, when it released on exchanges

thats what im talking about on the irc. to not dump and help support for the long term and why.

[Ting1989]

i hope people will not dump coin, when it released on exchanges

thats what im talking about on the irc. to not dump and help support for the long term and why.

What is your nicname in IRC? Can you tell us? I must have seen you in the IRC, i think.

[Collegestudent]

i hope people will not dump coin, when it released on exchanges

thats what im talking about on the irc. to not dump and help support for the long term and why.

What is your nicname in IRC? Can you tell us? I must have seen you in the IRC, i think.

CollegeGuy

[CryptoSteam]

I ask only that:
Min stake age: 8 hours, no max age

Interesting, although longer min age (2 weeks) would force people to be more committed to generate stake in their wallets.

[Maestro1]

I ask only that:
Min stake age: 8 hours, no max age

I think one thing that the original developer got right is the min stake age. When PoS is at such a high rate, there should also be a high minimum stage age, so that it would take committment (not day trading) to stake at a high rate. It adds value to keeping AC for long periods. That's something we need.

[CryptoSteam]

I think one thing that the original developer got right is the min stake age. When PoS is at such a high rate, there should also be a high minimum stage age, so that it would take committment (not day trading) to stake at a high rate. It adds value to keeping AC for long periods. That's something we need.

+1

[CapSER2.0]

I ask only that:
Min stake age: 8 hours, no max age

I think one thing that the original developer got right is the min stake age. When PoS is at such a high rate, there should also be a high minimum stage age, so that it would take committment (not day trading) to stake at a high rate. It adds value to keeping AC for long periods. That's something we need.

It's annoying, but it's a very good point! And I fully agree

[johntseng]

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.

I am happy with this. 

[reesev]

i hope people will not dump coin, when it released on exchanges

they will but there will be people waiting to gobble them up

[GroundRod]

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

Just another small investors POV here, sounds like a good plan Maestro1, much better than the original coin code.  Without your proposed changes IMO the price will crash hard & the coin abandoned in less that a year otherwise.  However, with these changes a much better long term investment vehicle is created, one I'm looking forward to enjoying a share of.  Still that appeal of creating an early adopter frenzy is in place for months to come, time will tell thanks to the team effort here.

As to the stake age, its an interesting question, pretty much in agreement with the original development there too.

[3xk0pt3r]

Dev team, CryptoSteam,

Once all is working, please update list of AC shareholders site with wallet address for AC donation. DEV team and all people working on this so hard must be rewarded for their hard work.

Thanks