[ANN][XC] >> Mandatory Update to new Wallet - The first POS X11 anonymous wallet

[dadon]

I come to implore the dev to please reduce block reward ASAP.  Price has now only risen 5000% in 48 hours.  Multipool dumping is stifling growth.  I require 50000% growth within first week before I can dump and move on.

And....errrr....uhhhh.....I believe in this coin, long term growth, blah blah.

what's the price now?

he was being sarcastic and indicating we are all money hungry selfish low life's, just because we don't want 17million+ coins to saturate the market in the next 3 months, i think it would be a great idea to lower block rewards to extend mining for years to come like DRK or btc, but apparently that makes me greedy..

[dadon]

So what is this coin doing that Darkcoin already hasn't done?

lots of stuff read the forum, it's all here you just need to read it

[provenceday]

So what is this coin doing that Darkcoin already hasn't done?

wallet will come out soon!

[blaaaaacksuit]

So what is this coin doing that Darkcoin already hasn't done?

lots of stuff read the forum, it's all here you just need to read it

TL; DR

[blaaaaacksuit]

So what is this coin doing that Darkcoin already hasn't done?

wallet will come out soon!

But what new features does this coin bring to the table?  I'm genuinely curious.

[provenceday]

So what is this coin doing that Darkcoin already hasn't done?

wallet will come out soon!

But what new features does this coin bring to the table?  I'm genuinely curious.

Anon Features

[blaaaaacksuit]

So what is this coin doing that Darkcoin already hasn't done?

wallet will come out soon!

But what new features does this coin bring to the table?  I'm genuinely curious.

Anon Features

Oh man...

[dadon]

it is rumored to be  a cross between zerocoin and darkcoin annon features, it will be the first annon coin with pos, and the the first coin with android wallet with working pos, the DEV is keeping the details to himself but there is a teamview session coming up soon. there will be master nodes like dark, but the dev is improving on the idea for added security, i wish i could answer your question more, but we just have to wait.

[qiuxiang]

So what is this coin doing that Darkcoin already hasn't done?

no instanmine，everyone can mine from start

[dadon]

but the mining period is over in 100 days, were in that 100days 17 million + coins will hit the market and we are trying to get the mining extended to something like drk or btc were it's mined over years to help keep a stable price.

[sixteendigits]

I come to implore the dev to please reduce block reward ASAP.  Price has now only risen 5000% in 48 hours.  Multipool dumping is stifling growth.  I require 50000% growth within first week before I can dump and move on.

And....errrr....uhhhh.....I believe in this coin, long term growth, blah blah.

what's the price now?

he was being sarcastic and indicating we are all money hungry selfish low life's, just because we don't want 17million+ coins to saturate the market in the next 3 months, i think it would be a great idea to lower block rewards to extend mining for years to come like DRK or btc, but apparently that makes me greedy..

When did I ever claim to NOT be money hungry and selfish?  I have no problem with pumping and dumping scam coins.  I wasn't here in the really early days of BTC, so pump and dumps are a major source of my BTC intake.

Just annoyed with all the BS and convoluted reasoning as to why abruptly stopping PoW mining, or significantly reducing coin supply, is so good for the health of the coin, if this is supposedly more than just a pump and dump.

OH NO, I AM 100% IN THIS FOR THE LONG TERM, BIG BELIEVER IN XC!  IT IS GOOD FOR THE COINS TO BE CUT OFF, TOO MANY FLOODING THE MARKET!  Oh, why yes, I do hold 250k XC I mined at low difficulty and bought at crazy low prices before an anonymous wallet was announced, why do you ask?  IGNORE MY MASSIVE STASH OF COINS!  THAT HAS NOTHING TO DO WITH IT!

I mean, seriously, some of you are fighting for this so hard I think you are all starting to believe your own bullshit.

Now extending the PoW for years to come is an idea I would be more able to get behind.  I have never been a fan of these quick mining period PoS coins.  And yes (in anticipation of newbie and jr member responses), 3 months is still a VERY fast mining period.

To achieve this though, a hard fork would need to be implemented very quickly to avoid needing to abruptly drop the block reward ridiculously low.

At this point, any change in the reward scheme is going to put a stain on XC and IMO is not worth it LONG TERM.  Yes, short term it slows down the pump and dump, sorry!

[CryptoClub]

So what is this coin doing that Darkcoin already hasn't done?

wallet will come out soon!

But what new features does this coin bring to the table?  I'm genuinely curious.

The main difference to my understanding would be that it should transition to Proof of Stake - or - it is a hybrid. Either way, there would be interest generated. 3.33% annually. I believe the wallet works like a super node for DRK, so, in theory there would be countless nodes for the P2P anon stuff to work. Darkcoin is my absolute favorite and I think you should own some, everyone should, but I do think this is the most interesting alternative new one. Dev is also using his real Bitcointalk.org ID, which is a step up from people using random new IDs and dumping the coins and moving on. So, seems a better chance this guy will make it and stick around.

[dadon]

I come to implore the dev to please reduce block reward ASAP.  Price has now only risen 5000% in 48 hours.  Multipool dumping is stifling growth.  I require 50000% growth within first week before I can dump and move on.

And....errrr....uhhhh.....I believe in this coin, long term growth, blah blah.

what's the price now?

he was being sarcastic and indicating we are all money hungry selfish low life's, just because we don't want 17million+ coins to saturate the market in the next 3 months, i think it would be a great idea to lower block rewards to extend mining for years to come like DRK or btc, but apparently that makes me greedy..

When did I ever claim to NOT be money hungry and selfish?  I have no problem with pumping and dumping scam coins.  I wasn't here in the really early days of BTC, so pump and dumps are a major source of my BTC intake.

Just annoyed with all the BS and convoluted reasoning as to why abruptly stopping PoW mining, or significantly reducing coin supply, is so good for the health of the coin, if this is supposedly more than just a pump and dump.

OH NO, I AM 100% IN THIS FOR THE LONG TERM, BIG BELIEVER IN XC!  IT IS GOOD FOR THE COINS TO BE CUT OFF, TOO MANY FLOODING THE MARKET!  Oh, why yes, I do hold 250k XC I mined at low difficulty and bought at crazy low prices before an anonymous wallet was announced, why do you ask?  IGNORE MY MASSIVE STASH OF COINS!  THAT HAS NOTHING TO DO WITH IT!

I mean, seriously, some of you are fighting for this so hard I think you are all starting to believe your own bullshit.

Now extending the PoW for years to come is an idea I would be more able to get behind.  I have never been a fan of these quick mining period PoS coins.  And yes (in anticipation of newbie and jr member responses), 3 months is still a VERY fast mining period.

To achieve this though, a hard fork would need to be implemented very quickly to avoid needing to abruptly drop the block reward ridiculously low.

At this point, any change in the reward scheme is going to put a stain on XC and IMO is not worth it LONG TERM.  Yes, short term it slows down the pump and dump, sorry!

congrads on the 250k lucky man, i hope we can come to a agreement, i just want to get on with everyone to be honest, i think reducing the block rewards is the way to go, miners can keep mining, and investors will see a nice stable investment, win win and it won't require a hard fork, drk did simaler and they are doing fine, it will hurt us more to not do it, but anyway, congrads on the 250k that's a great amount to hold, hope you get rich.

[provenceday]

but the mining period is over in 100 days, were in that 100days 17 million + coins will hit the market and we are trying to get the mining extended to something like drk or btc were it's mined over years to help keep a stable price.

that's will be great!

[battbot]

Ya -- I really cannot stress enough how necessary it is to reduce total supply and PoW phase.  Can't sleep because my mind is all worked up about this.  I want what is best for the longevity of this coin.  Just think about it:

If things remain unchanged -- what group will be holding the majority control on the price once anon features go live?  Will it be the miners (selling the price down) or investors  (buying the price up)?  It will be 100% be the miners holding majority control --> because 75% of all coins will be minted in 2 months (this is way too many coins way too soon) especially considering that XC's biggest selling point was already delivered two months ago (by that point in time).

Again, this would be somewhat of a different story if anon features released near or at the end of PoW phase (because the expectation would help sustain buyer confidence).  But it is not.  Anon feature is the "hot thing" right now, and the hype around it will only be suppressed as 25 million more XC flood the market in two months.  People buy on news and sell on fact.  Once anon feature (the news) is released, XC will have an extremely hard time increasing in value in light of 25m (75%) of the supply being minted and thrown into the market.  Two months of sell offs is a long time and will assuredly decrease buyer confidence.  

Not to mention, 2 months down the road, there will surely be another coin to be 100% PoS with anon features before we reach our 100% PoS stage.  It is crucial that XC becomes 100% PoS with anon feature before any other coin.

XC needs to reduce both total supply and PoW phase to help ensure healthy / constant buy pressure.  DRK reduced their block reward (and probably would have done more, had they been PoS), because they knew this move was necessary as they drew nearer to implementing darksend.  DRK team is really genius when it comes to creating market demand (for this reason and their requiring of 10,000 DRK taken off the market for each masternode).

This is exactly correct as veritasBS said:

Let me walk you through what will happen if the coin specs stay how they are currently:
1) There will be a big run in price when this PoS coin is the first to release the wallet.
2) We will get to a market cap of say 10 million.
3) There will be a fast decline in price but because this IS a coin with a quality dev and features, it will level off to some where around 6 million market cap.
4) Then 25 million more coins will come flooding in to the market over next 100 days. The price per coin will start a slow decline to 1/5 of where it was when it settled after the run.
5)The investors will only take so much loss and jump ship somewhere in the decline.
6) By the time PoW ends, you have many coins on the market with the EXACT same features so you no longer have an advantage.

The opportunity is NOW to make this a lasting coin. Use the advantage the dev has built to  make this the premier anon coin...anything else is poor management.


My Proposal:
10m coins (or less) and let PoW continue for another 1-2 weeks (1 is best) max with reduced block rewards.  

This will help allow for market cap growth, will help ensure XC is the first 100% PoS coin with anon tech, and will give time for an XC multipool to be set up and launched immediately when PoW ends.

Either this, or extend the PoW mining period years into the future with greatly reduced block rewards.  I think this is better than changing nothing (I still think that the first 100% PoS anon featured coin is this coins biggest selling point).  But if it remains the same --> yes, this coin will still be successful (if anon releases), but all I see is unnecessary value suppression for the future of this coin.

[dadon]

but the mining period is over in 100 days, were in that 100days 17 million + coins will hit the market and we are trying to get the mining extended to something like drk or btc were it's mined over years to help keep a stable price.

that's will be great!

i agree  

[provenceday]

I come to implore the dev to please reduce block reward ASAP.  Price has now only risen 5000% in 48 hours.  Multipool dumping is stifling growth.  I require 50000% growth within first week before I can dump and move on.

And....errrr....uhhhh.....I believe in this coin, long term growth, blah blah.

what's the price now?

he was being sarcastic and indicating we are all money hungry selfish low life's, just because we don't want 17million+ coins to saturate the market in the next 3 months, i think it would be a great idea to lower block rewards to extend mining for years to come like DRK or btc, but apparently that makes me greedy..

When did I ever claim to NOT be money hungry and selfish?  I have no problem with pumping and dumping scam coins.  I wasn't here in the really early days of BTC, so pump and dumps are a major source of my BTC intake.

Just annoyed with all the BS and convoluted reasoning as to why abruptly stopping PoW mining, or significantly reducing coin supply, is so good for the health of the coin, if this is supposedly more than just a pump and dump.

OH NO, I AM 100% IN THIS FOR THE LONG TERM, BIG BELIEVER IN XC!  IT IS GOOD FOR THE COINS TO BE CUT OFF, TOO MANY FLOODING THE MARKET!  Oh, why yes, I do hold 250k XC I mined at low difficulty and bought at crazy low prices before an anonymous wallet was announced, why do you ask?  IGNORE MY MASSIVE STASH OF COINS!  THAT HAS NOTHING TO DO WITH IT!

I mean, seriously, some of you are fighting for this so hard I think you are all starting to believe your own bullshit.

Now extending the PoW for years to come is an idea I would be more able to get behind.  I have never been a fan of these quick mining period PoS coins.  And yes (in anticipation of newbie and jr member responses), 3 months is still a VERY fast mining period.

To achieve this though, a hard fork would need to be implemented very quickly to avoid needing to abruptly drop the block reward ridiculously low.

At this point, any change in the reward scheme is going to put a stain on XC and IMO is not worth it LONG TERM.  Yes, short term it slows down the pump and dump, sorry!

congrads on the 250k lucky man, i hope we can come to a agreement, i just want to get on with everyone to be honest, i think reducing the block rewards is the way to go, miners can keep mining, and investors will see a nice stable investment, win win and it won't require a hard fork, drk did simaler and they are doing fine, it will hurt us more to not do it, but anyway, congrads on the 250k that's a great amount to hold, hope you get rich.

really make some sense

[sixteendigits]

I come to implore the dev to please reduce block reward ASAP.  Price has now only risen 5000% in 48 hours.  Multipool dumping is stifling growth.  I require 50000% growth within first week before I can dump and move on.

And....errrr....uhhhh.....I believe in this coin, long term growth, blah blah.

what's the price now?

he was being sarcastic and indicating we are all money hungry selfish low life's, just because we don't want 17million+ coins to saturate the market in the next 3 months, i think it would be a great idea to lower block rewards to extend mining for years to come like DRK or btc, but apparently that makes me greedy..

When did I ever claim to NOT be money hungry and selfish?  I have no problem with pumping and dumping scam coins.  I wasn't here in the really early days of BTC, so pump and dumps are a major source of my BTC intake.

Just annoyed with all the BS and convoluted reasoning as to why abruptly stopping PoW mining, or significantly reducing coin supply, is so good for the health of the coin, if this is supposedly more than just a pump and dump.

OH NO, I AM 100% IN THIS FOR THE LONG TERM, BIG BELIEVER IN XC!  IT IS GOOD FOR THE COINS TO BE CUT OFF, TOO MANY FLOODING THE MARKET!  Oh, why yes, I do hold 250k XC I mined at low difficulty and bought at crazy low prices before an anonymous wallet was announced, why do you ask?  IGNORE MY MASSIVE STASH OF COINS!  THAT HAS NOTHING TO DO WITH IT!

I mean, seriously, some of you are fighting for this so hard I think you are all starting to believe your own bullshit.

Now extending the PoW for years to come is an idea I would be more able to get behind.  I have never been a fan of these quick mining period PoS coins.  And yes (in anticipation of newbie and jr member responses), 3 months is still a VERY fast mining period.

To achieve this though, a hard fork would need to be implemented very quickly to avoid needing to abruptly drop the block reward ridiculously low.

At this point, any change in the reward scheme is going to put a stain on XC and IMO is not worth it LONG TERM.  Yes, short term it slows down the pump and dump, sorry!

congrads on the 250k lucky man, i hope we can come to a agreement, i just want to get on with everyone to be honest, i think reducing the block rewards is the way to go, miners can keep mining, and investors will see a nice stable investment, win win and it won't require a hard fork, drk did simaler and they are doing fine, it will hurt us more to not do it, but anyway, congrads on the 250k that's a great amount to hold, hope you get rich.

I don't hold 250k, I was mocking all the pump and dumpers in this thread.

[dadon]

I come to implore the dev to please reduce block reward ASAP.  Price has now only risen 5000% in 48 hours.  Multipool dumping is stifling growth.  I require 50000% growth within first week before I can dump and move on.

And....errrr....uhhhh.....I believe in this coin, long term growth, blah blah.

what's the price now?

he was being sarcastic and indicating we are all money hungry selfish low life's, just because we don't want 17million+ coins to saturate the market in the next 3 months, i think it would be a great idea to lower block rewards to extend mining for years to come like DRK or btc, but apparently that makes me greedy..

When did I ever claim to NOT be money hungry and selfish?  I have no problem with pumping and dumping scam coins.  I wasn't here in the really early days of BTC, so pump and dumps are a major source of my BTC intake.

Just annoyed with all the BS and convoluted reasoning as to why abruptly stopping PoW mining, or significantly reducing coin supply, is so good for the health of the coin, if this is supposedly more than just a pump and dump.

OH NO, I AM 100% IN THIS FOR THE LONG TERM, BIG BELIEVER IN XC!  IT IS GOOD FOR THE COINS TO BE CUT OFF, TOO MANY FLOODING THE MARKET!  Oh, why yes, I do hold 250k XC I mined at low difficulty and bought at crazy low prices before an anonymous wallet was announced, why do you ask?  IGNORE MY MASSIVE STASH OF COINS!  THAT HAS NOTHING TO DO WITH IT!

I mean, seriously, some of you are fighting for this so hard I think you are all starting to believe your own bullshit.

Now extending the PoW for years to come is an idea I would be more able to get behind.  I have never been a fan of these quick mining period PoS coins.  And yes (in anticipation of newbie and jr member responses), 3 months is still a VERY fast mining period.

To achieve this though, a hard fork would need to be implemented very quickly to avoid needing to abruptly drop the block reward ridiculously low.

At this point, any change in the reward scheme is going to put a stain on XC and IMO is not worth it LONG TERM.  Yes, short term it slows down the pump and dump, sorry!

congrads on the 250k lucky man, i hope we can come to a agreement, i just want to get on with everyone to be honest, i think reducing the block rewards is the way to go, miners can keep mining, and investors will see a nice stable investment, win win and it won't require a hard fork, drk did simaler and they are doing fine, it will hurt us more to not do it, but anyway, congrads on the 250k that's a great amount to hold, hope you get rich.

I don't hold 250k, I was mocking all the pump and dumpers in this thread.

nice man...thanks for accepting the peace offering i was trying to make.

[veritasBS]

Ya -- I really cannot stress enough how necessary it is to reduce total supply and PoW phase.  Can't sleep because my mind is all worked up about this.  I want what is best for the longevity of this coin.  Just think about it:

If things remain unchanged -- what group will be holding the majority control on the price once anon features go live?  Will it be the miners (selling the price down) or investors  (buying the price up)?  It will be 100% be the miners holding majority control --> because 75% of all coins will be minted in 2 months (this is way too many coins way too soon) especially considering that XC's biggest selling point was already delivered two months ago (by that point in time).

Again, this would be somewhat of a different story if anon features released near or at the end of PoW phase (because the expectation would help sustain buyer confidence).  But it is not.  Anon feature is the "hot thing" right now, and the hype around it will only be suppressed as 25 million more XC flood the market in two months.  People buy on news and sell on fact.  Once anon feature (the news) is released, XC will have an extremely hard time increasing in value in light of 25m (75%) of the supply being minted and thrown into the market.  Two months of sell offs is a long time and will assuredly decrease buyer confidence.  

Not to mention, 2 months down the road, there will surely be another coin to be 100% PoS with anon features before we reach our 100% PoS stage.  It is crucial that XC becomes 100% PoS with anon feature before any other coin.

XC needs to reduce both total supply and PoW phase to help ensure healthy / constant buy pressure.  DRK reduced their block reward (and probably would have done more, had they been PoS), because they knew this move was necessary as they drew nearer to implementing darksend.  DRK team is really genius when it comes to creating market demand (for this reason and their requiring of 10,000 DRK taken off the market for each masternode).

This is exactly correct as veritasBS said:

Let me walk you through what will happen if the coin specs stay how they are currently:
1) There will be a big run in price when this PoS coin is the first to release the wallet.
2) We will get to a market cap of say 10 million.
3) There will be a fast decline in price but because this IS a coin with a quality dev and features, it will level off to some where around 6 million market cap.
4) Then 25 million more coins will come flooding in to the market over next 100 days. The price per coin will start a slow decline to 1/5 of where it was when it settled after the run.
5)The investors will only take so much loss and jump ship somewhere in the decline.
6) By the time PoW ends, you have many coins on the market with the EXACT same features so you no longer have an advantage.

The opportunity is NOW to make this a lasting coin. Use the advantage the dev has built to  make this the premier anon coin...anything else is poor management.


My Proposal:
10m coins (or less) and let PoW continue for another 1-2 weeks (1 is best) max with reduced block rewards.  

This will help allow for market cap growth, will help ensure XC is the first 100% PoS coin with anon tech, and will give time for an XC multipool to be set up and launched immediately when PoW ends.

Either this, or extend the PoW mining period years into the future with greatly reduced block rewards.  I think this is better than changing nothing (I still think that the first 100% PoS anon featured coin is this coins biggest selling point).  But if it remains the same --> yes, this coin will still be successful (if anon releases), but all I see is unnecessary value suppression for the future of this coin.

Wake up people...if you really care about the coin you will get on board with this plan. XC has to be the first full PoS coin with anon.
Did you all see how much the BC community grew with the run up a month ago? The run in price (on a quality coin) attracted a crazy amount of developers and community members. Over last month many, many exciting things are in the pipeline being worked on now because of that run. We cant expect the XC devs to do all the innovation in this coin. A big jump in price puts XC in another league. It attracts  growth...just like DRK. It was quite around DRK one month ago...look at it now.