[ANN][SUPERCOIN]First P2p Decentralized Trustless Anonymous Wallet Coming Soon

[supercointeam]

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[bitrap]

Sovie, did you miss provenceday's stats regarding the multipools? They always dumped their mined goods at market prices, relentlessly driving the prices down, while most of the investors have already bought and are holding.

[sovie]

I aint no fool as i got out early, i've been readng this thread now for 24 hours and

the people comenting with pure conjecture that can't be proved one way or another

have succeeded in frightning the hell out of everyone.

Please don't expect me to believe that multipool is responsabile for dropping the price

so dramatically, they have been around a while now but all of a sudden the price goes form 4000 to 1500

c'mon use your heads, this is nothing but fear mongering spread by the 3 mentioned weather they did it

knowingly or by accident the proof is there for all to read, and its hilarious as one the one hand they bash busconi

and on the other they bash the coin themselves

Wake up

[bitcoinwonders010]

I aint no fool as i got out early, i've been readng this thread now for 24 hours and

the people comenting with pure conjecture that can't be proved one way or another

have succeeded in frightning the hell out of everyone.

Please don't expect me to believe that multipool is responsabile for dropping the price

so dramatically, they have been around a while now but all of a sudden the price goes form 4000 to 1500

c'mon use your heads, this is nothing but fear mongering spread by the 3 mentioned weather they did it

knowingly or by accident the proof is there for all to read, and its hilarious as one the one hand they bash busconi

and on the other they bash the coin themselves

Wake up

dude you are fool. as for me i clearly said, the issue with the multipool is it will restrict growth. i want POW to go because if it reaches 50k sats i don't want it falling back. poloniex is clearly responsible for this mess. i don't understand why, people still not buying as it proven it was a mistake im pissed its taking busoni this long to reply

[sovie]

wat eva  people can read for themselves
i;ve wasted enough time already
have fun

[provenceday]

wat eva  people can read for themselves
i;ve wasted enough time already
have fun

Supercoin Long Term Development Advice

hi Supercoin Community

i am provenceday, truly, i have some amount Supercoin（i also have more than 100 posts on this thread）.  Although i try to be neutral, but still some advices from me may be very subjective. Please Don't soak up everything uncritically.

about me, i have involved with coins more than 2 years, and mining and holding more than 100 altcoins at least. Also i am running 2 biggest Multipool in China. so i just want to share some experience with Community.


1  Whether Supercoin is a good coin or not?

For me, i believe Supercoin is a good coin deserve to hold. Because Supercoin has a dedicated dev team, yes dev team is the vital to Altcoin (not for bitcoin ), if dev team abandoned a altcoin, then the altcoin may not go far. Luckily we have a dedicated team behind Supercoin. Everybody in Community know this.

Supercoin is a pow/pos separated coin with some lucky Super pos block, then everybody will want to open their Supercoin Wallet for super block which can accelerate the transfer confirmation. so supercoin has a very fast confirmation, 6 confirmation less than 2 minutes, it's super fast.
But if you also involve in XC coin Community, you will know XC has a very very slow transfer confirmation, some time it may take 1 hours to get 6 confirmation. because XC coin has a very low Pos Rate（3.33%,but good for price）and some shortcomings on their POS  mechanism.
Supercoin are also also developing Anon Wallet, and has released the alpha Version for public test. it's a big thing. if you innove in altcoin more than 1 years, you will Know Anon feature is hard to accomplished. That's the reason why darkcoin and XC coin still only have a test Anon Wallet. As i know (maybe i am wrong), only Darkcoin and XC coin and Supercoin has a Anon Wallet now(not included Cryptonote technology coin, such as bytecoin or XMR). So that's prove we really has a professional and high-level dev team.

2 Which factors influence the Altcoin price?
Truly, demand decides price in free market. but for Altcoin, mainly 2 things influence the Altcoin price.(i posted this before)
 First is coin inflation, because everyday if we have 0.3 Million supercoin, if the price hit 10K satoshi, you will need 30BTC buying support, that's ok with current circumstances, but if the price hit 100K satoshi, you will need 300BTC support everyday, so it's impossible for nowdays coin, that's the reason why Dark and XC and VRC coin has very low inflation(that's also lead they have a much higher price than Supercoin).
 Second is the Multipool, they will control everyday's coin supply, after they mined this coin, they will dump it soon for profit. and because i am running the 2 biggest Multipool in China,（more than 100G scrypt and X11 hash rate） i know exactly how Multipool works, everyminus Multipool will detect the all coin listed on all exchange platform(if they have a open api), then based the advanced profit Algorithm, they will decide to mine which coin, then they will mine it and dump it ASAP for bitcoins, because they must pay miner bitcoin everyday. otherwise miner will leave, also if miner can not get more profit than mining LTC, miner will also leave, because they can mine LTC instead. From my observe, at the recent 3 days, mining Supercoin is the most profitable thing, it have at least 50% premium than just mining LTC coin. so why not mining Supercoin and then dump it ASAP? it's really a good business for profit！but it's a disaster for Supercoin price.

3 Why same concept Anon coin has much higher price than Supercoin?

Dark price is 0.017BTC （4,387,505 DRK）
XC price is 0.0015BTC (5,512,780 XC)
Vericoin Price is 0.00011BTC (26,768,365 VRC)
Supercoin price is 0.00002995BTC (11,811,810 SUPER)

i do not want to say more, from these statistics, you can make your decision.

4 Price prior or Development affairs prior?
Guys, we are not at 2011,which we has less than 10 Altcoins, we are in 2014,, we have more than 333 Altcoins on coinmarketcap. even bitcoin, if the price keep dropping, most of people will leave. Further more, if the price is higher, then we maybe stable later, we will draw more resource for long term development, it’s a really good thing. that's why dark and XC can not be defeatd easily. Nowdays, innovations need more resource Support.

5 What does mining means for Altcoin?
Now we have the POS algorithm, even without mining, the network is secure. mining is just a way for coin distribution and not very environmentally friendly,do you know how many electricity been wasted by mining bitcoin? Bitcoin Mining Uses $15 Million's Worth Of Electricity Every ...i do believe if satoshi has a better way to distribute bitcoin, he will not choose mining method.

6 what does Multipool does everyday?
i am running some Multipool, i know it. Multipool is vampire. they will bleed white everycoin's profit until they turn to mining LTC again.

7 Should we reduce the block reward more quickly?

i have proposed 2 times to reduce the block reward.
First time, i post this

DEV we need quick Halves, other wise Multipool will keep dumping their coins until pow period ends...


you can also check dark thread, at first the reward is 500coin then reduce to 25 coins after they realised the Multipool dumping.

similar thing happened with XC coin. they ends their mining period soon after they realized Multipool keep dumping

Further more, POS mining is a more greener  way for coin distribution, it do not need GPU cards and waste electricity!

what's the meaning of pow period?

Halves block reward to 64 coins, Please..

I understand your point and concerns, and we will seriously consider your proposal. We know this is what happened to XC and other coins. We will protect the best of our community's interests against multipools. The Supercoin dev team will make a decision on this matter. Thank you for your great support to us.

Dev,Thank you very much! that's the reason:

thanks for your quick reply dev.
i have engaged with altcoin more than one years, have seen so many good coins just killed by Multipool.
i do hope supercoin has a bright future, because we are super!

From my altcoin experience, there are 2 things are really bad for altcoin.

First is coin inflation, because everyday if we have 0.3 Million supercoin, if the price hit 10K satoshi, you will need 30BTC buying support, that's ok with current circumstances, but if the price hit 100K satoshi, you will need 300BTC support everyday, so it's impossible for nowdays coin, that's the reason why dark and XC and VRC coin has very low inflation. i also hope supercoin has a lower inflation.

Second is the Multipool, they will control everyday's coin supply, after they mined this coin, they will dump it soon for profit.

so based the two reasons, i would like to advice to reduce the block reward more quickly and keep the total amount fixed or also can reduce the total amount. otherwise the price is not maintainable.

so how about reduce the block reward every week and at some point keep it at a low block reward?

so now we have 512 coin block reward,
512--》256--》128--》64 ends （4 weeks）
or
512--》256--》128--》64--》32 ends.（Multipool will not profitable any more and keep lower inflation also small miner will mine this coin）(5 weeks)

if we have a lower block reward, people would keep their coin for pos mining, it‘s a better and greener way for coin distributing than Multipool control the coin supply.

But it seems dev are more mild on reduce block, i am more radical. Dev decide to reduce block more quickly, but choose to halves every 10day, at first the halve is every 45 days. After this Announcement, the price rise from 1k satoshi to 4ksatoshi.

Second time i posted this 2days ago:

Community can vote for weather to reduce block reward more quickly.

i do advice Supercoin can update source code again tomorrow, and reduce the block reward to 64 Supercoin or 32 Supercoin directly and then halves everyweek, until we reach 2coin or 1coin block reward, then we can end the pow and turn to a pure pos coin.

we do not need to suffer another 1 month Multipool dumping.or it may kill the young and promising Supercoin

Community can discuss this issue.

it seems both Darkcoin and XC coin make successive update to face Multipool's dumping, we may also need to make a tough decision again.

Thank you very much. welcome any comments on this advice, good or bad? Dev and Community together make a decision for a better Supercoin!


Also dev is very busying at Anon Wallet test on sunday, if we can reduce block reward first, we can put off another two days for Anon Wallet test, i believe Community will Support this.
Thanks for your Support.

But dev are too busy to test the Anon Wallet, so they do not take further action on this.

8 is it unfair to reduce blockreward again? or any risk?

even you are a miner mining Supercoin now, it‘s unfair for you, because you can not get many Supercoins with Multipool control the more than 80% everyday's coin supply, also Multipool keep dumping, the price will go lower and lower, you mining Supercoin may can not afford your mining cost now. is that fair for you?
if you are a Supercoin investor, it is truly unfair for your investment, because Multipool take the most part profit on all Altcoins. you investment wroth less everyday. it's unfair.
if you want to join Supercoin Community, it’s unfair for you to buy a coin and that coin price goes lower later.

risk: if we can handle this correctly, it may not take risk on Supercoin development, because many Altcoin update their source code several times, such as Darkcoin and XC coin.

9 Further development plan advice?

0 decentralized Anon system and trustless mixer
1 more application on Supercoin
2 Mobil basd payment system
3 Merchant adoption
4 media report
5 grow Community
6 keep adding new function on Supercoin
7 charity Fund

Thanks.

[qingtiananhao]

Provenceday said above is good, recommended weekly production by half, after 4 weeks is 64 coins a block! This can reduce the problem of inflation, to maintain price stability!

[tokyoghetto]

Once PoW is finished what will be the total number of coins?

[bitrap]

With updated payout scheme, the total PoW coins will be about 18.2 millions and total coins (PoW + PoS) is estimated at about 50 millions.

[tokyoghetto]

With updated payout scheme, the total PoW coins will be about 18.2 millions and total coins (PoW + PoS) is estimated at about 50 millions.

thank you

[bitcoinwonders010]

looks like were making a come back, stable above 2000, i would love to see us rise massively without busoni statement,

[supercointeam]

we need feedbacks...
Anon Wallet in Testnet
Yes. The anon version of supercoin is released for testing. The anon features are only available in testnet now. This version of supercoin client works for regular network too (no difference from the latest Version 1.2). We plan 1 week alpha test and 1 week beta test. Thanks for feedbacks.

Download testnet Anon Wallet
http://www.super-coin.net/Supercoin-Anon.zip (alfa, soon to beta, feedbacks welcome)

Make sure to enable the CoinControl feature in your QT. To enable, you should go to Setting->Option->Display, and check the second checkbox (Display coincontrol features (expert only!)). Now go back to Send tab, you will see Anon Send option.

Testnet Config
To run in testnet, in conf file put

Code:

 testnet=1 (replace from 0 to 1)
and these init nodes:
addnode=93.104.211.172  
addnode=216.31.10.131
addnode=88.147.180.16
addnode=180.166.220.206
addnode=216.31.10.131
addnode=50.137.3.98
addnode=184.75.214.218
addnode=199.102.71.158

Sample conf:

Code:

testnet=1
listen=1
addnode=93.104.211.172  
addnode=216.31.10.131
addnode=88.147.180.16
addnode=180.166.220.206
addnode=216.31.10.131
addnode=50.137.3.98
addnode=184.75.214.218
addnode=199.102.71.158
maxconnections=100
server=1
daemon=1
rpcuser=user
rpcpassword=pass
rpcport=19391
rpcconnect=127.0.0.1

PM supercointeam or supercoindev if you want us send you some test coins. Or you can solo mine yourself, very easy to mine. But remember, this is testnet coins, which are worthless, just for testing.

To send in anon mode, check the "anonymous send" checkbox in "send Coin" tab. You can of course use the regular send too (just uncheck the box). For testing purpose we limit max 10000 SUPERs in each anonymous-send.

Only qt client can send anonymous, and for now only windows client is available for testing.

Anon Feature Explained
 We released testnet anon version 14 June Try yourself. It's one step before actual release.

So what is anon features?

Anon features hide the traces of the transaction. So basically when you want to send from A to B, instead of showing in the blockchain explicitly a transaction showing A-B, it may show A->X, then Y->B, where X, Y are some random addresses (at least from a large address pool). Of course the transaction can be further obfuscated, such as you can split the sending amount to several parts, and apply the above for each part. This way, it is virtually impossible to trace the real transaction. So it protects your privacy.

Some people asked for details of our plan and implementations, here are some information on it. I'll use question/answer format to give details. Please post more questions if you have, the dev team will do our best to answer them.

Q: What is the overall plan for SUPER to support anonymous features?

A: Our ultimate goal is to create a peer-to-peer and completely de-centralized anonymous system. This is shown in the following diagram. Any node can become an intermediate "mixing" node, if some minimum requirements are satisfied. There is no central control parts. Everything is peer-to-peer and de-centralized.

Remember that this is a trustless system, any node may cheat if it can.

In order to achieve this goal, we divide our work into 2 steps:
   

• Phase-1. To achieve anonymous wallet with a simplified, and easy to implement system
• Phase-2. To implement a fully de-centralized peer-to-peer anonymous system

What is an anonymous system? Simply put, it is a system that people can not trace clearly the transactions from the blockchain, and see where the transaction really originated and where it is terminated. This protects people's privacy.

So why we don't go directly to our end-goal? This is because from our surveys and investigations, it is very complex and difficult to achieve a completely decentralized anonymous system. The key here is the "trust". When you do A->X->B, where X is some sort of the middle "mixer" node, the send or sign or commit of A->X and X->B (or its equivalent, such as a double-signed address, mini-escrow, etc), can not completely happen simultaneously, the one side (sender or Mixer-node) that has the last act can always cheat, though sometimes the cheat does not give the cheater benefits, but it can cause damage to the other party. Therefore, a complete trustless system is more difficult to be implemented (though it is possible - we'll discuss some more below).
 
For this reason, in phase-1 we decided to develop a system that will depend on some sort of the trust, it is much easier to implement, and will give people the anonymous feature. This trust will be done through the dev team, or a credible mining pool.


Q: So what is your Phase-1 solution?
A: Our initial anon solution will involve some middle trusted mixing pools. This is shown in the following diagram:

The mixing pools will be hosted initially by dev team, and can also be hosted by credible mining pools. The anon send will be directed to these mixing pools by wallet and mixed and then send to its destination.

Basically it is done like this:
   A (source) -> {Xi} (i = 1, ..., m), then {Yi} (i = 1, ..., n)->B (destination)

where {Xi} and {Yi} are randomly chosen addresses from a large pool of addresses (belonging to a mixing pool,
and these addresses are periodically refreshed, phased out, and created).

The source amount from A is split randomly into m parts (for now we choose m = 2,3 or 4 randomly in the anon version we will release for testing, but it will be a configurable parameters later), they are sent to m random addresses in randomly chosen mixing pool. The pool, on confirming the amounts received, will send the same amount in n parts to the destination (for our testnet we choose n=1, again this can be changed and configured). The result transaction is not traceable (at least extremely difficult to trace, given the large number of addresses in the mixing pool and dynamism of the addresses).

The main part of our phase-1 solution is implemented, and we will release a version for testnet shortly.


Q: Sounds good, is mixing pool software and coin wallet client are two different software?
A: Absolutely not. They are exactly the same. It is the SUPER coin wallet. Eventually this will be used for peer-to-peer system (in phase-2), so no reason to be different. Now we configure only a few special nodes as trusted nodes. Once we implement the trustless system in phase-2, no special config is needed.

Q: What is a trust system, and what is a trustless system?
A: A trust system will have at least one node that everyone trusts. This node will never cheat. Other nodes may or may not cheat.
A trustless system is that any nodes will cheat if they can. So to implement a trustless system it is more difficult as you have to implement mechanisms to prevent or discourage a node to cheat. If a node cheats, it will lose much more than it gains.

Q: Can you give some details on the mixing pool?
A: OK, it is basically a wallet client, with a pool feature configured as shown below.

A array of the incoming/outgoing addresses are created and refreshed dynamically, and randomly chosen for each transaction. Incoming and outgoing addresses balance their coins with predefined algorithms.

Q: Looks good for Phase-1. What about Phase-2? Is it feasible?
A: Phase-2 is absolutely feasible, albeit more difficult. We actually already defined a workable scheme, and work on
details now. It involves a complex system with multi-signature (m-to-n signature) addresses and multi-signature transactions. We can not reveal more details now. We will publish the full scheme design details after we implement, test and release it.
The Phase-2 will be built on top of the Phase-1 codebase. In phase-2, any node (wallet client) can become an intermediate mixing node if it satisfy some minimum requirements (e.g. minimum balance, network connectivity etc).

[tokyoghetto]

Is there a possibility of introducing master nodes?

I think this will bring new investors in and reward those with a significant stake in the supercoin network.

[bitbd83]

I am very pleased to see some new re-bound. Good buy pressure on board.

[jakiman]

Some of you have scared away current holders as well as scaring off potential new investors.
All these posts arguing with dev gives more negative vibe than positive and surely you know it.

I just wish I had more spare BTC to buy up these cheap coins!

[bitcoinwonders010]

Some of you have scared away current holders as well as scaring off potential new investors.
All these posts arguing with dev gives more negative vibe than positive and surely you know it.

I just wish I had more spare BTC to buy up these cheap coins!

ive been trying to take out a loan to buy some more, it does look like people are realizing poloniex comments were silly and we can see a sustained rise now. it was at 6000 when announcement hit before polo made the comment

[supercointeam]

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[badchild]

  mintpal add crypt, I think we have more potential

[bitcoinwonders010]

mintpal add crypt, I think we have more potential

agree if they can add crypt we will defintily be added, what has crypt created nothing, we have a working anon wallet. crazy

[badchild]

mintpal add crypt, I think we have more potential

agree if they can add crypt we will defintily be added, what has crypt created nothing, we have a working anon wallet. crazy

  Don't buy  "cry" . the price is too high and they have nothing real except a white paper.