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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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CryptoClub
Legendary
 Offline
Activity: 1470
Merit: 1000
cryptocollectorsclub.com
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May 25, 2014, 01:42:57 AM |
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well after a marathon work week, with very little sleep or food, I am going to celebrate this huge milestone and then get some rest!!!
it was a great adventure getting to this point and I want to say thank you to all of those you helped along the way!! this is only the beginning for XC!!!!
+1 Thanks for all the hard work! |
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policymaker
Full Member
Offline
Activity: 210
Merit: 100
Crypto Currency Supporter
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May 25, 2014, 02:05:12 AM |
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Get some well deserved rest, you make altcoin community proud!
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Junkey
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May 25, 2014, 02:12:11 AM |
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Has there been an announcement yet? |
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DRobert
Member
Offline
Activity: 98
Merit: 10
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May 25, 2014, 02:13:51 AM |
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Looks like coin is going to 0.001 soon
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zmhaha
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May 25, 2014, 02:31:42 AM
Last edit: May 25, 2014, 03:07:14 AM by zmhaha |
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I have a question for the DEV.
The XC website says there are 100k total PoW blocks w/ 333XC/block, which is 33.3mil total XC from PoW.
But the OP also says "Total Coins:33.3Million ", did you mean total coins for PoW, or??
The OP also says "17M~33.3Million - Estimated due to POS blocks reducing POW", what does this mean?
It sounds like PoS happens simultaneously with PoW and has an impact on how many coins will be produced from PoW.
To me a common PoW/PoS coin usually means:
1: A prescribed maximum hight of PoW blocks w/ prescribed coins per block.
2: PoS only starts after PoW stage ends.
Please clarify!
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Besides above, I call for a increased PoS rate w/ coin control feature (i.e ability to control which coins to send out. So you can send the coins w/ minimum age)
1: 3.33% to perpetuity is a bit high for long term. 1%-2% is better, assuming the long term survival of XC.
2: 3.33% is too low for initial months/year.
i) Initial attention/attraction is crucial for any cryptos.
ii) Crypto world mainly consists of younger and impatient people,
iii) Crypto prices are highly volatile, not to mention 3.33% is not attractive even for fiat based instrument.
Thus, 3.33% is neither attractive, especially more so for cryptos, nor mitigate the risk of holding the coins. As a result, the "PoS" part of the coin is not appealing.
I suggest a higher initial PoS rate and decreases in shorter time intervals(weeks or months) while keeping the total theoretical supply the same.
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In addition, if this is not too complicated to implement, an adaptive PoS rate should be better.
i.e:
The network automatically adjusts the PoS rate to maintain the total supply as a prescribed supply curve.
Somewhat like a PoS rate difficulty, if more people try to stake, the lower the PoS rate and vice versa. (
Of course, the instantaneous PoS rate must be explicitly shown in the wallet so people can make informed decision when to stake.
This is actually somewhat like how banks do it. They don't give a fixed APR schedule that lasts forever. They adjust the APR based on various factors, which are far more complicated than cryptos, at least for now.
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provenceday
Legendary
Offline
Activity: 1148
Merit: 1000
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May 25, 2014, 02:41:20 AM |
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23 X11Coin $ 1,562,150 $ 0.32 4,853,198 XC $ 189,795 +242.11 %
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atcsecure (OP)
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May 25, 2014, 02:57:11 AM |
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I have a question for the DEV.
The XC website says there are 100k total PoW blocks w/ 333XC/block, which is 33.3mil total XC from PoW.
But the OP also says "Total Coins:33.3Million ", did you mean total coins for PoW, or??
The OP also says "17M~33.3Million - Estimated due to POS blocks reducing POW", what does this mean?
It sounds like PoS happens simultaneously with PoW and has an impact on how many coins will be produced from PoW.
To me a common PoW/PoS coin usually means:
1: A prescribed maximum hight of PoW blocks w/ prescribed coins per block.
2: PoS only starts after PoW stage ends.
Please clarify!
This coin is a Hybrid pow/pos, so it does both NOW... |
Join the revolution - XC - Decentralized Trustless Multi-Node Private Transactions
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Grifftech
Newbie
Offline
Activity: 56
Merit: 0
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May 25, 2014, 03:23:36 AM |
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I have a question for the DEV.
The XC website says there are 100k total PoW blocks w/ 333XC/block, which is 33.3mil total XC from PoW.
But the OP also says "Total Coins:33.3Million ", did you mean total coins for PoW, or??
The OP also says "17M~33.3Million - Estimated due to POS blocks reducing POW", what does this mean?
It sounds like PoS happens simultaneously with PoW and has an impact on how many coins will be produced from PoW.
To me a common PoW/PoS coin usually means:
1: A prescribed maximum hight of PoW blocks w/ prescribed coins per block.
2: PoS only starts after PoW stage ends.
Please clarify!
This coin is a Hybrid pow/pos, so it does both NOW... How does PoS work? I am mining XC right now, but what do I need to do for PoS? |
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zmhaha
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May 25, 2014, 03:24:27 AM |
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I have a question for the DEV.
The XC website says there are 100k total PoW blocks w/ 333XC/block, which is 33.3mil total XC from PoW.
But the OP also says "Total Coins:33.3Million ", did you mean total coins for PoW, or??
The OP also says "17M~33.3Million - Estimated due to POS blocks reducing POW", what does this mean?
It sounds like PoS happens simultaneously with PoW and has an impact on how many coins will be produced from PoW.
To me a common PoW/PoS coin usually means:
1: A prescribed maximum hight of PoW blocks w/ prescribed coins per block.
2: PoS only starts after PoW stage ends.
Please clarify!
This coin is a Hybrid pow/pos, so it does both NOW... Ok. Then I have more questions.. sorry.. 1: What is the maximum number of PoW block hight? Is it fixed or it varies? It seems to be the later case. If yes, how do we determine when to stop doing PoW instead of just wait and see when it stop producing coins. 2: How does PoS affects the PoW stage? i.e does more people doing PoS mean less PoW blocks, or the other way around? Does XC use any standards that I can find somewhere to get to understand it? Sorry, all PoS coins I got into was the initial-PoW-distribution-then-pure-PoS type. 3: Does the PoS goes on to perpetuity? Or it stops at the prescribed number of total supply. Btw, because XC is new, and 3.33% is fairly low, at least for new coins, I would guess most of people will keep their XC on exchanges instead of sitting in wallets to stake. Until the price stabilizes enough to justify the low 3.33% yearly rate, I would guess this will be always the case. |
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zmhaha
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May 25, 2014, 03:27:52 AM |
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How does PoS work? I am mining XC right now, but what do I need to do for PoS?
Keep your XC into your wallet for minimum of 8 hours, you will see interest. But notice, it is not guaranteed to see interest as soon as you reach 8 hours. It depends on how many people are trying to stake, which can be indicated to a PoS difficult found in wallet. But what that number really means is hard to be translated to actual expected time to stake. |
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CryptoClub
Legendary
Offline
Activity: 1470
Merit: 1000
cryptocollectorsclub.com
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May 25, 2014, 03:39:27 AM |
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hey dev, did you used to play Barren Realms Elite on a bunch of dial-in BBS's?
Or it might have been that Solar Realms Elite?
don't recall atm.. but did play a lot of "tradewars" and "the pit"... ah ansi graphics rule... Oh man. Semi-related but I couldn't help mentioning my old passion for MUDs... Oh man. those were the days. Somewhat more on topic, I'm really sorry to hear about someone outing your identity. That's really awful. Your reputation will help the project, but it's still terribly unfortunate and I hope it doesn't become too much of a burden. Keep up the great work, and can't wait to see your next release;) Yes, while most devs are anonymous for a reason, (people would sell the second they find out they are clueless) This is the opposite situation. I was transferring BTC to buy more as fast as could. |
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spcrypt
Member
Offline
Activity: 84
Merit: 10
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May 25, 2014, 03:42:20 AM |
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missed the launch on this, is there anything special to downloading the wallet, doesn't seem to work for me
don't see anything in roaming or a working qt file
downloaded several times
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Jacques de Molay
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May 25, 2014, 03:59:59 AM |
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Dunno if dev posted this in here
But he showed us this pic in POLONIEX about 30 or so minutes ago.
chrome://mega/content/secure.html#!BVsTjT4T!Bj5w_E8l5aumkvYUwFQNCemUQwAe4V8ZbNNOvWVRPms
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Bl4ckw00d
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May 25, 2014, 04:05:42 AM |
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Dunno if dev posted this in here
But he showed us this pic in POLONIEX about 30 or so minutes ago.
chrome://mega/content/secure.html#!BVsTjT4T!Bj5w_E8l5aumkvYUwFQNCemUQwAe4V8ZbNNOvWVRPms
Wanna fix that link? Im curious  |
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Taner
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May 25, 2014, 04:07:11 AM |
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Dunno if dev posted this in here
But he showed us this pic in POLONIEX about 30 or so minutes ago.
chrome://mega/content/secure.html#!BVsTjT4T!Bj5w_E8l5aumkvYUwFQNCemUQwAe4V8ZbNNOvWVRPms
Wanna fix that link? Im curious !BVsTjT4T!Bj5w_E8l5aumkvYUwFQNCemUQwAe4V8ZbNNOvWVRPms |
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Bl4ckw00d
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May 25, 2014, 04:12:13 AM |
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Dunno if dev posted this in here
But he showed us this pic in POLONIEX about 30 or so minutes ago.
chrome://mega/content/secure.html#!BVsTjT4T!Bj5w_E8l5aumkvYUwFQNCemUQwAe4V8ZbNNOvWVRPms
Wanna fix that link? Im curious !BVsTjT4T!Bj5w_E8l5aumkvYUwFQNCemUQwAe4V8ZbNNOvWVRPms Thank you sir. I wish your future endeavours to be filled with many breasts and BTC |
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Jacques de Molay
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May 25, 2014, 04:17:41 AM |
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Dunno if dev posted this in here
But he showed us this pic in POLONIEX about 30 or so minutes ago.
chrome://mega/content/secure.html#!BVsTjT4T!Bj5w_E8l5aumkvYUwFQNCemUQwAe4V8ZbNNOvWVRPms
Wanna fix that link? Im curious Sorry  |
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HardwarePal
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May 25, 2014, 04:22:18 AM |
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I went to sleep at 18K and woke up to 60K sat o.0
Diff is at 2K LOL
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