[ANN][TAC] TalkCoin

[Ignition75]

Mining is important for network security, PoS has a known security flaw, so I'm not sure that's the best option.

At the moment we have unlimited inflation and the dev wanted it this way because of the hidden addresses, the proposed supply curve is quite conservative once this coin gathers steam.  It's been very hard on the existing team to take this coin forward when the lead dev has been dishonest and severely lacking in communication.

We want a measured supply curve, one that keeps miners interested but doesn't cause too much deflation of existing holdings.

It's important we get people using chat both in the wallet and on mobile and have the right mix of economics and technology.

This is good, keep the great suggestions coming in 

[halicarton]

what is the latest news about TAC?

[coolmyrig]

new Talkcoin wallet GUI and website are better looking,hope it be a big success.

[TalkTeam]

what is the latest news about TAC?

We are releasing a new wallet next weekend that has some key changes including removing block reward voting.  More info here: https://bitcointalk.org/index.php?topic=619210.msg8496645#msg8496645

[BrewCrewFan]

Lock the block reward with a sloping cut in the rewards over time.

This gives the new miners a chance... ect.... plus look at the BS DRK gets for the simple thing of cutting the block reward so much after it was "discovered" that people wanted to mine it.

[Ignition75]

We had a focus group on economics last night, which involved the entire team (except crz who had a party to attend  ).

It was an excellent meeting, we all had our chance to discuss present and future economic issues for the coin, it went for about 4 hours and we looked at many options.

The conclusion was, to leave the proposed supply curve as it was, we felt it was the right balance between satisfying existing holders by ensuring not too much inflation whilst attracting future holders with enough supply.

Our next meeting is to finalise our technical roadmap and of course ensure everything is in place for the upcoming fork at the end of the week.

Number one technical priority over the short to medium term is to get people using Talkcoin, both within the wallet and on mobile devices.

[waxo]

We had a focus group on economics last night, which involved the entire team (except crz who had a party to attend  ).

It was an excellent meeting, we all had our chance to discuss present and future economic issues for the coin, it went for about 4 hours and we looked at many options.

The conclusion was, to leave the proposed supply curve as it was, we felt it was the right balance between satisfying existing holders by ensuring not too much inflation whilst attracting future holders with enough supply.

Our next meeting is to finalise our technical roadmap and of course ensure everything is in place for the upcoming fork at the end of the week.

Number one technical priority over the short to medium term is to get people using Talkcoin, both within the wallet and on mobile devices.

very nice that things are moving forward with TAC !

i was mining since day 1 and i did not sold any and bought also...

I have an idea, why not create a dating site ? like www.tacmeet.com ?
i can manage it !
what the community think about it ?

[k-meister]

The conclusion was, to leave the proposed supply curve as it was, we felt it was the right balance between satisfying existing holders by ensuring not too much inflation whilst attracting future holders with enough supply.

These are not 2 opposing goals which need to be balanced, they are the same goal! If you can satisfy existing holders then you will also get the new investors, because the value goes up which attracts more people. If you can't satisfy holders or increase the value of the coin then why would anyone want to become a holder?
The thing is that we already know, because the coin and similar inflation model has been out for a while, that the current model can do neither. Nobody wants to buy, and 1 btc in the buy order list is effectively a collapsed coin. The fact that the market hasn't picked up since the announcement means nobody has confidence or wants to buy into this model. You may say it needs marketing, but if none of the existing people following it think it's worth buying then you're not likely to find new ones either.

I don't understand why 20% a month is “not too much inflation”, if you can help us understand this then maybe we can give the idea some support. Can you give examples of any other coins which have been successful with similar levels of long term inflation?
By that I mean in the modern coin world after the rise of PoS.

[AizenSou]

The conclusion was, to leave the proposed supply curve as it was, we felt it was the right balance between satisfying existing holders by ensuring not too much inflation whilst attracting future holders with enough supply.

These are not 2 opposing goals which need to be balanced, they are the same goal! If you can satisfy existing holders then you will also get the new investors, because the value goes up which attracts more people. If you can't satisfy holders or increase the value of the coin then why would anyone want to become a holder?
The thing is that we already know, because the coin and similar inflation model has been out for a while, that the current model can do neither. Nobody wants to buy, and 1 btc in the buy order list is effectively a collapsed coin. The fact that the market hasn't picked up since the announcement means nobody has confidence or wants to buy into this model. You may say it needs marketing, but if none of the existing people following it think it's worth buying then you're not likely to find new ones either.

I don't understand why 20% a month is “not too much inflation”, if you can help us understand this then maybe we can give the idea some support. Can you give examples of any other coins which have been successful with similar levels of long term inflation?
By that I mean in the modern coin world after the rise of PoS.

Hey thank you for your feedback. Our whole point is we are trying to get the coin in control first. The old dev refuses to change anything on the core features of the coin so a lot of old investors are already left / dumped their holding.
The market won't response immediately to our announcement because we actually still doesn't show anything new to improve the coin and our marketing campaign doesn't start yet. Almost no new investors know about Talkcoin or Talkcoin's news.

The inflation model we use is from Bitcoin/Litecoin/Dogecoin and a lot of others. We didn't say it is the best, but it gives the most balances inflation rate in our opinions. We have tried to simulate a lot of other models but still this one gives us the best feeling about the future of the coin.
Last but not least, the new model gives better control about inflation rate than the current voting model. If we don't change this, the block reward might stay the same forever or one person could easy manipulate for  a lot of higher block reward when the price rises, which potentially could give a risk for all investors.

Regards,

Aizen

[Ignition75]

We had a focus group on economics last night, which involved the entire team (except crz who had a party to attend  ).

It was an excellent meeting, we all had our chance to discuss present and future economic issues for the coin, it went for about 4 hours and we looked at many options.

The conclusion was, to leave the proposed supply curve as it was, we felt it was the right balance between satisfying existing holders by ensuring not too much inflation whilst attracting future holders with enough supply.

Our next meeting is to finalise our technical roadmap and of course ensure everything is in place for the upcoming fork at the end of the week.

Number one technical priority over the short to medium term is to get people using Talkcoin, both within the wallet and on mobile devices.

very nice that things are moving forward with TAC !

i was mining since day 1 and i did not sold any and bought also...

I have an idea, why not create a dating site ? like www.tacmeet.com ?
i can manage it !
what the community think about it ?

We have our own server now, our system administrator is busy laying the right infrastructure and security down for seed nodes, failover IP's, webserver, forum etc etc.  When Karimdr2 is ready, we can start hosting our own faucet, block explorer and other things like an official TAC mining pool and why not social sites like tacmeet :-)

[scamkiller]

wish this scam die quietly

[djm34]

wish this scam die quietly

must be again that guy who blackmail coin dev 
pretty please, I want to be blackmailed 

[nicemycoin]

I am looking forward to the new wallet.

[waxo]

We had a focus group on economics last night, which involved the entire team (except crz who had a party to attend  ).

It was an excellent meeting, we all had our chance to discuss present and future economic issues for the coin, it went for about 4 hours and we looked at many options.

The conclusion was, to leave the proposed supply curve as it was, we felt it was the right balance between satisfying existing holders by ensuring not too much inflation whilst attracting future holders with enough supply.

Our next meeting is to finalise our technical roadmap and of course ensure everything is in place for the upcoming fork at the end of the week.

Number one technical priority over the short to medium term is to get people using Talkcoin, both within the wallet and on mobile devices.

very nice that things are moving forward with TAC !

i was mining since day 1 and i did not sold any and bought also...

I have an idea, why not create a dating site ? like www.tacmeet.com ?
i can manage it !
what the community think about it ?

We have our own server now, our system administrator is busy laying the right infrastructure and security down for seed nodes, failover IP's, webserver, forum etc etc.  When Karimdr2 is ready, we can start hosting our own faucet, block explorer and other things like an official TAC mining pool and why not social sites like tacmeet :-)

I will explain my little project :

1. create a dating/social site linked to TAC and also android and IOS version .
2. find a name , i am ready to buy the domain name i have few names in my minds :
tacmeet , tacdate , tacbook , twitac , easytac .
3. find the purpose of this site

i will work for free so i need to know what the team think about it .

[kopam]

I am another TAC investor, i did buy a good number of TAC and i did mine some more.
Never sold a single coin cuz i believe in it.
The takeover seems well reasoned and i am behind it. However i am not supporting the new inflation level.
This is way too much, Vertcoin is only one of the example of what such a high inflation is doing to a coin !
I do not see how a lower reward would be unfair to new investors, the people investing until now had believe in the coin, they were risking cash and time to invest in it.

Please re consider the block reward and put up a vote ! You wanna have better communication with the community, you wanna be a transparent coin. This is a major decision, do not simply take it, give a chance for the community to say what it wants.
Also a vote is a fair way also for the new investors, if there are people interested in the coin but do not have any coins yet, they can simply vote for bigger blog reward.

I will keep supporting TAC but if you proceed with your plans, i can only see the price going down. And no one wants that ...

[Juantzy]

Takeover-coins never succeed in the history,just look at SC ,USB,......
Investors,be arlet that scam can live longer by so-called takeover.

[Ignition75]

Will troll for food.

The same Troll with the same bad grammar, you seriously need to get a life...  How about I send you $5 of Steam credit?  Then you don't have to troll for the next 2 weeks...

[TalkTeam]

Takeover-coins never succeed in the history,just look at SC ,USB,......
Investors,be arlet that scam can live longer by so-called takeover.

This is hardly a takover like those coins. I've been here since the start and there are 8 people in the team, we just all agreed to replace one team member who happened to be the core dev who created the project. We were relying on him to set the roadmap and do the releases, we are doing this now instead.

[TalkTeam]

We had a focus group on economics last night, which involved the entire team (except crz who had a party to attend  ).

It was an excellent meeting, we all had our chance to discuss present and future economic issues for the coin, it went for about 4 hours and we looked at many options.

The conclusion was, to leave the proposed supply curve as it was, we felt it was the right balance between satisfying existing holders by ensuring not too much inflation whilst attracting future holders with enough supply.

Our next meeting is to finalise our technical roadmap and of course ensure everything is in place for the upcoming fork at the end of the week.

Number one technical priority over the short to medium term is to get people using Talkcoin, both within the wallet and on mobile devices.

very nice that things are moving forward with TAC !

i was mining since day 1 and i did not sold any and bought also...

I have an idea, why not create a dating site ? like www.tacmeet.com ?
i can manage it !
what the community think about it ?

We have our own server now, our system administrator is busy laying the right infrastructure and security down for seed nodes, failover IP's, webserver, forum etc etc.  When Karimdr2 is ready, we can start hosting our own faucet, block explorer and other things like an official TAC mining pool and why not social sites like tacmeet :-)

I will explain my little project :

1. create a dating/social site linked to TAC and also android and IOS version .
2. find a name , i am ready to buy the domain name i have few names in my minds :
tacmeet , tacdate , tacbook , twitac , easytac .
3. find the purpose of this site

i will work for free so i need to know what the team think about it .

Thanks Waxo, we are discussing this in IRC.

[bushstar]

Quick note on the new inflation model, the reward normally halves when you get to half the coin reward. For a coin supply of 48m and 1.5m between halvings the initial supply would be 16 and after the halving it would be 8. I have been given a model of 15.37 coins now and 7.685 after the reward. It should be set that the reward is going to be 8 after the halving and to make up the difference now and for simplicity's sake the reward can be a round 15 right now. We will approximately be where we need to be at when we get to the halving. For a specific coin reward now we can use the following to work out the current coin reward if we want to be exact about it.

halvingTotal = 24,000,000
amountSoFar = Amount of coins minted at
hardfork = Height of the hard fork
halving = 1,500,000 // Reward halving height

halvingTotal - amountSoFar / halving - hardfork = New coin reward

Even if we go for a coin reward now that goes into the decimal places the reward after the halving should be 8 as this would be inline with typical coin supply. The halving will happen within a year of Talkcoin's launch. It is a relatively short wait until we hit 8 coins a block.