[ANN] SilkCoin | New Wallet | NOW on MintPal / Cryptsy | FULL POS

[nzminer]

There he dumped them. Exactly 1mil. Time is also right...look at the wallet what time it was that he moved them.

That graph looks like someone pulling the fingers! lol

[socal]

I wouldn't be surprised if Fontas or Blackhand or whatever fucking P&D group that thinks they are hot shit is what set off this shit storm and they are probably reading the utter confusion on here and cracking up while grabbing massive amounts of coins, only hitch to that is where exactly are the Devs, and what if badass.sx's post is showing the Dev dumping I dunno but like I said I am goin for broke and holding

[BohemianStalker]

I am OUT.

Developers got enough time to adress the price drops etc. But they did nothing. I donť care if the price will go up 10X now magically when the developers appear because that will just proove they are the ones actually pulling the strings. Guess I was wrong, another loss to my list.

[Wulfcastle]

I'm not currently 100% sure of what's going on with the developers, but please everyone be cautious right now. There was a post late last night saying that there is supposed to be an update today at around 8PM GMT. If you look at the GitHub repo, there were commits for the Trading functions : https://github.com/shnurf/silkcoin

As Quantum and cryptomaik posted above me, I'm in the same boat as everyone here. The developer has delivered before, I'm hoping that he will deliver again.

[dandruff1138]

Just wanted to make a statement

As you all know i am not a dev, i was recruited as part of the team to help with promotions as i have 20 years in sales and marketing,

I know nothing more than you guys, i am here but do not know what to say to you, i am in the same boat if this tanks i will have lost a lot, + 5 weeks hard work for nothing


1. I cannot believe someone would go to all the effort for an elaborate scam , I mean why not keep the first wallet it was innovative enough? without working hard with constant updates and new features ON TIME 5 in a row, why not dump at 7k or 4k or 3k , why wait until 1k ? sounds strange to me.

2. the whois info could have been changed to protect identity , i do know we have been harassed left right and center and he has personally been threatened on numerous occasions.

3. we have kept this information secret but i am going to break it , i don't care anymore............

We have proof that we were targeted by a pump and dump group ( BLKHAND GROUP) they are known to fud for a long time (megaman, gorrilajam etc) , buy lots of cheap coins , then pump ASHDRAKE, MOUSETU, WIZ .. i am looking at you .. this could very well be happening right now and probably is.

4. The head dev has not replied to any of us since Saturday morning, but this is not unusual as just before an update their can be 3 days in a row were he is very quiet as he is busy coding.

5. The pre-mine I am unsure if it is a mintpal or not , I don't know much about block explorers, i thought the coins were sitting there for all to view but i have taken onboard what some members have said.

6. I want everyone to know that I am above board, I tried honestly to promote something I thought would change crypto forever due to the wallet features and the current situation has me pulling my hair out also.

7, I hope the update hits tonight and everything is good if so grab cheap coins

And finally

I would like to apologize to you all , not for my behavior, I have always tried my best , but to any of you that  supported us and kept the faith and is now like me having to deal with the situation.

I still think the DEV deserves a chance after so many updates on time , after all its only like 1 day overdue .. but you must all do what u feel is right , sell if you must , hold with me if u like , but good luck to you all no matter what you do.

This is all the information I have and thought it fair to share with you all what i know

yours Sincerely

QUANTUM

The voice of reason is refreshing, but also spoken among unreasonable conditions. Good luck in your future endeavors QUANTUM, this forum may very well not deserve your maturity.

[judgecrypto]

I'm not currently 100% sure of what's going on with the developers, but please everyone be cautious right now. There was a post late last night saying that there is supposed to be an update today at around 8PM GMT. If you look at the GitHub repo, there were commits for the Trading functions : https://github.com/shnurf/silkcoin

come to my chat please http://www.judgecrypto.com/chat-room.html

[bluepixie]

I am going to go out on a limb and say that he moved the coins to the new wallet with trade abilities and it shows as a mintpal address. maybe this is why it is showing mintpal and still stakeing? we will see at 8 tonight. Also it makes more sense to follow through and deliver a great wallet. he would make way more money. Just saying

just for the record silk has hit 600 sat before

[vcoinminer0938]

I'm not currently 100% sure of what's going on with the developers, but please everyone be cautious right now. There was a post late last night saying that there is supposed to be an update today at around 8PM GMT. If you look at the GitHub repo, there were commits for the Trading functions : https://github.com/shnurf/silkcoin

As Quantum and cryptomaik posted above me, I'm in the same boat as everyone here. The developer has delivered before, I'm hoping that he will deliver again.

there has only 1 branch, and the last commit was 7 days ago..

[zhizhi321]

big dump

[lonely@thetop]

Looks like the dumps have stopped for now. If I wasn't so heavily invested I'd grab some more right now, ah decisions decisions...

[BadAss.Sx]

As Quantum and cryptomaik posted above me, I'm in the same boat as everyone here. The developer has delivered before, I'm hoping that he will deliver again.

Where are the other 4 devs?

[vcoinminer0938]

As Quantum and cryptomaik posted above me, I'm in the same boat as everyone here. The developer has delivered before, I'm hoping that he will deliver again.

Where are the other 4 devs?

Silkcoin has only 1 dev from day 1.

[multipoolcoin]

is this guy KING of P&D?


https://twitter.com/realfontas/status/481412495672758272


Maybe explain everything here!

[BadAss.Sx]

Silkcoin has only 1 dev from day 1.

We are 5 devs working on the code, at launch one of them looked the part of the address but since he's not used to Base58 encoding he checked https://en.bitcoin.it/wiki/Base58Check_encoding and thought 25 would be S. Remember we are multiple devs working on the code.
Regarding your coment cryptodevil, how can you say the first letter of the public key is the engine Wink?

We discovered it pretty soon, but what implication does this have? None. On the other hand would you really think it would be a good idea to change the address formatting after launch? No.
Anyway, how can anyone call this a problem? We have bigger problems to deal with, and if this is the only criticism you can make over Silk, well we're happy.

On other news, seeing the last nights dumps we will try to include the built-in exchanger in tomorrow's update to boost up confidence a bit in the market.
We are also trying our best to finish the revision of the paper as soon as possible. I hope you still liked the present released infos Wink.

Last thing, we are thinking about moving the thread to a self-mod thread. I was against that idea at first but seeing it's becoming impossible to have a civilized discussion/debate here because of the FUD & co we feel this our only option.

[WhiteNotWright]

You people need to stop looking at the market and walk away. Unless you can trade, you are going to get burned. I warned you before. FFS, stay out of the way and you will be OK. The DEV's are most likely still in bed and you guys have been wanting immediate answers. You crack me up and thanks for letting me know where everyone truly stands in regards to how well they can be manipulated and how easy it is for your to be rattled. Again, who wants to be a millionaire today?

[FuckJapan]

i bought some sc at 2000satoshi.why the price has slumped

* Silkcoin faucet *
* Facebook Giveaway *

 

 
Silkcoin is pure Proof of Stake coin, except in the 2 stages of initial distribution where POS and POW are mixed. First stage lasted 5 days, we're now in the second POS phase, next phase will be the last POW phase.
There will be 3 phases of distribution, a week (10 000 blocks) of POW/POS followed by a full month of pure POS; Then when Silkcoin gained some popularity a last phase of POW/POS similar to the first one will happen, helping distributing silkcoins to the maximum number of people before full POS stage. The fixed interest rate is 2% and coin start earning coin-age after 12 hours.

Built-in market explorer (soon exchanger), block explorer, statistics, coin control, QR code, beautiful UI, reserve balance, easy unlock/lock for staking, built-in IRC chat, and a lot more to come! We will be releasing new updates every week, and in 10 days since launch we already released 2 updates greatly improving users experience.

We're also working on a big project we call silkcoin eco-system where all will de decentralized more infos here : https://bitcointalk.org/index.php?topic=599438.msg6829311#msg6829311 it will be released shorty after we reach the last full POS phase.

Specifications

• Block time: 1 minute
• Maximum POW supply: ~45 million
• Difficulty retarget: every block
• Stake interest: 2% annually
• Min transaction fee: 0.0001 SC
• Fees are paid to miners
• Confirmations: 10, maturity: 350
• Minimum stake age: 12 hours - No max age
• P2P port: 16666, RPC port: 16667

Stages and Proof of Work

• Algorithm: scrypt
• Block reward: 5000 SC in first stage and 2500 in third stage
• First stage POS-POW : block 1 to 10 000 (~5 days & ~30 million coins because of POS blocks)
• Second stage Full POS : block 10 000 to 50 000 (~30 days)
• Third stage POS-POW : block 50 000 to 60 000 (~5 days & ~30 million coins because of POS blocks)
• Third stage POS-POW : block 50 000 to 60 000 (~5 days & ~15 million coins because of POS blocks)

- HARD FORKED to please everyone

• Last stage - Full POS at 2% per year and 12 hours maturity

Exchanges -- Exchanges PLEASE UPDATE YOUR CLIENT AND POST IN THE THREAD TO BE RE-ADDED --

• https://www.cryptsy.com/markets/view/225
• https://www.mintpal.com/market/SC/BTC
• https://poloniex.com/exchange/btc_sc/
• https://www.bittrex.com/Market/Index?MarketName=BTC-SC
• https://www.kingcoiny.com/index.php?page=trade&market=17
• https://www.alcurex.com/
• https://www.rapidcx.com/exchange/silkcoin

Pools -- POOLS PLEASE UPDATE YOUR CLIENT AND POST IN THE THREAD TO BE ADDED --

• http://xhash.net
• https://silk.suprnova.cc
• http://thepool.pw/silk/
• https://ipominer.com/
• https://coinking.io

Pools with payouts in SC

• www.hashco .ws
• Dedicated SC multipool coming for last phase on the community demand

Here is the paper, and the whole theory revolving around silkcoin eco-system.

Now let's talk about this eco-system. We didn't want to unveil it this soon but since we talked a bit about I will tell you a few things. First of all it's in very early stages, so don't get too excited it won't be out before at least 2-3 months.
The whole system works with torrents and the blockchain, Satoshi's greatest invention wasn't the bitcoin currency it was the blockchain. He invented the first way to really decentralize anything, on a freedom point of view there's so much more to be done than a currency.

So here's how it works, once you're connected through your wallet, you will be able to access a local website on your computer at 127.0.0.1:1666, this hub will regoup a lot of different functions all decentralized and based on the blockchain.
And yes this means no censoring and freedom of speech. We're pretty sure we can succeed in time to make all the planned functionalities, but they will be added progressively. I'll detail later what the first integrations will be.
This hub works a bit like a social network, with profiles, friends, post boards etc.. You'll generate a unique user that will be tied to your secret key, if you lose the secret key there's no way to retrieve your account. To interact with someone (make an exchange, send a message etc..) you'll have to be friends with each other, this is a limitation we can do nothing about.
At the moment we think we'll launch social network features and file sharing first since they are already working pretty great on full POS. Exchanger will follow, we're still having a few unresolved issues. And we thought of a marketplace but we're still discussing the implications and we don't think it will be feasible because of a lot of obvious concerns. These are the main primary objectives at the moment, but of course there's plenty of possibilities and ideas who knows how all this will evolve.

Design is also in very early stages, don't be shocked if it doesn't look very sexy!

Here's a screen of the network status when you open the wallet & connect to the website. You can't do anything until the blockchain is up to date and data downloaded. Then of the profile, most functions you see are already working pretty well. We'll show you a screenshot of the exchanger once it's a bit more advanced, at the moment it's not looking like anything .

Of course we welcome any dev who wants to help us, just contact us with your skills we need all the help we can get. And no, if you copy-pasted a coin you're not a dev .
We'll answer all questions in time, I know there must be a lot of questions arising but look at the size of this post hehe and at first we didn't want to talk about it so soon again, it's still in very early stages but the system we use seems to be working great.

As you can see, if this eco-system comes out it's going to be huge. It's a decentralized censorfree world, you'll be staking, securing the network and winning money while browsing the eco-system. And Silkcoin will be the main currency here, we'd actually be the first to really solve the issue of most cryptos "what to do with my coins other than speculate" and manage to keep a lot of users with the wallet open to secure even more the network.




Services

• Block Explorer  http://explorer.silk-coin.com/
• Accept Silkcoin in your store http://www.altaccept.com/
• Silkcoin infos http://www.cryptocoinrank.com/Silkcoin
• Silkcoin Faucet http://www.cryptoarrow.com/faucets/silkcoin/index.php
• Cryptrader charts http://www.cryptrader.com
• The Doge of Wallstreet ! http://silk.dogeofwallstreet.com/

Stores

• Hausfay Hotel in Greece http://hausfay.com/en
• Stoney B http://www.stoneyb.com/
• BadAss Security Services https://www.badass.sx/

Medias & Press

• http://www.judgecrypto.com/news/the-launch-of-silk-coin-sc
• http://www.cryptoarticles.com/crypto-news/2014/5/10/silkcoin-a-bitcoin-alternative
• http://cryptonews.today/featered-altcoins/silkcoin-to-the-moon-scrypt-pow-pos-coin-with-by-far-the-coolest-looking-wallet
• http://www.cryptoarticles.com/crypto-news/2014/5/22/silkcoin-wallet-update-marketing-push-coming-bittorrent-integration-planned
• https://www.youtube.com/watch?v=qshbUi-xwx4 "Hitler finds out something is missing in his SilkCoin wallet", SilkReich Video Series
• https://www.youtube.com/watch?v=-vUlkM_vnzY "Hitler finds out something is missing in his SilkCoin wallet" episode2, SilkReich Video Series
• http://www.cryptoarticles.com/crypto-news/win-an-oculus-rift-thanks-to-silkcoin-poloniex#
• http://btc-news-bot.tumblr.com/post/87809700971/win-an-oculus-rift-thanks-to-silkcoin-poloniex
• http://coinjoint.info/arent-coins-focusing-wallet-development-innovation/
• http://247cryptonews.com/silkcoin-the-new-road-of-wallet-features/
• http://www.coinssource.com/silkcoin-begins-marketing-second-mining-phase/
• http://www.cryptoarticles.com/crypto-news/silkcoin-added-to-mintpal-brings-200-bitcoin-trading-volume-in-mere-hours
• http://bitbillions.net/2014/06/13/alt-currencies-silk-coin-review-on-the-silk-road-to-success/
• https://www.badass.sx/silkcoin-new-coin-defeat-bitcoin/

FAQ

• No, Silkcoin is not affiliated in any way with silkroad, "silk = the very fine soft lustrous fibre produced by a silkworm to make its cocoon"
• What is Proof Of Stake and how can i mine?
  Proof of stake is another way of mining, which involves holding coins. Coins staying still for more than 12 hours start generating what we call coin age, once it has started you may hit a stake block and win an interest on staked coins. Like in POW, hitting blocks is a bit random so don't be alarmed if you *should* hit a block soon and you don't. You don't have to keep your wallet open to generate coin age but you have to let it open to hit a stake block.
• How compound interest is calculated?
  https://en.wikipedia.org/wiki/Compound_interest#Compound_Interest
• Is the number of coins limited?
  100 million coins will be generated throught POW and POS generation is not limited.
• Why the 4% premine? (supposed to be 2% of 100 million at first but evolved due to Fork & POS blocks)
  We thought about it for a while and decided a premine was mandatory for the success of the coin. First it helps distribution as does the 2 POW phases, a fact that is widely criticized with POS cryptos featuring 1 distribution stage, 50% premine, ipos...
  Then have a look at all the dying 0 premine coins trying in vain to raise community bounties (yes blackcoin is an exception and a amazing coin and we wish all the best for them).
  Our decision is final so please don't complain about it, you are free to go mine another coin, and also free to claim your part of the premine by helping the coin and our community.
  About 1 100 000 SC is left from the premine today 15 june 2014.

 

• When will the built-in block explorer be fully finished?
  Main functions are here so currently it is not in progress. But expect a lot of changes in the new version coming out before the second POW phase.
• How do i keep some money from staking? Why would i do that?
  Just go in settings and set the "reserve balance" field which stands for the amount of money you DON'T want to stake, your money is stuck while it is staking that's why you may want to keep a determined amount available.

Bounties

• 1 000 SC - Write an article about Silkcoin (available before launch also)
• 2 500 SC for any basic service (contact us)
• Contact us for translations bounty depends on how much you translate
• 5 000 for any major service
• 10 000 if you solve the runtime error triggered by the debug console
• 10 000 for first minor exchange
• 30 000 for first major exchange
• 5 000 SC for any pool with SC payout
• Ongoing objective bounties for a Facebook manager
• Ongoing objective bounties for a Reddit manager
• Ongoing objective bounties for all developers
• Contact us with your services we will offer you a bounty

- If wallet crashes, relaunch it happens ONLY on  first launch.

silkcoin.conf

rpcport=16667
server=1
addnode=107.170.61.197
addnode=107.170.73.238

 

Please share your thoughts about Silkcoin and your vision for our future, tell us what you want for this coin and we'll make it happen.
Don't hesitate to ask any question, we are here to enlighten you.

http://www.silk-coin.com/
QQ Group : SilkCoin中国 361119649

[vcoinminer0938]

Silkcoin has only 1 dev from day 1.

We are 5 devs working on the code, at launch one of them looked the part of the address but since he's not used to Base58 encoding he checked https://en.bitcoin.it/wiki/Base58Check_encoding and thought 25 would be S. Remember we are multiple devs working on the code.
Regarding your coment cryptodevil, how can you say the first letter of the public key is the engine Wink?

We discovered it pretty soon, but what implication does this have? None. On the other hand would you really think it would be a good idea to change the address formatting after launch? No.
Anyway, how can anyone call this a problem? We have bigger problems to deal with, and if this is the only criticism you can make over Silk, well we're happy.

On other news, seeing the last nights dumps we will try to include the built-in exchanger in tomorrow's update to boost up confidence a bit in the market.
We are also trying our best to finish the revision of the paper as soon as possible. I hope you still liked the present released infos Wink.

Last thing, we are thinking about moving the thread to a self-mod thread. I was against that idea at first but seeing it's becoming impossible to have a civilized discussion/debate here because of the FUD & co we feel this our only option.

You should join chatroom, many kernel members are there.

[bluepixie]

You people need to stop looking at the market and walk away. Unless you can trade, you are going to get burned. I warned you before. FFS, stay out of the way and you will be OK. The DEV's are most likely still in bed and you guys have been wanting immediate answers. You crack me up and thanks for letting me know where everyone truly stands in regards to how well they can be manipulated and how easy it is for your to be rattled. Again, who wants to be a millionaire today?

I wanna be a millionaire  
 can you guys take it to 3k today?
it would do great when he puts out the new wallet.

[MysticalCockFungus]

Ive never owned SC but I bought some this morning at 1500 cus I thought that was cheap even with no dev, cus seriously guys, this coin has a great foundation, brought innovation into crypto, the wallet is a masterpiece and the coin still works perfect, no forks or anything. To be honest so what if the dev dumped and ran off, maybe he had a crisis or something and had to drop everything and fuk off. So it really doesnt matter, this dev leaves, another one comes along and continues the work the other dev never finished, SC will live to fight another day, I am sure of it.

[kpierce77]

Wow.  If I had known it'd drop to 700 I'd have bought more at that price.  Sucks that I missed that one.