[XC][XCurrency] Decentralised Trustless Privacy Platform / Encrypted XChat / Pos

[synechist]

Hey gents, just and idea.  It would be best if all markets froze the coin and distribute the shares during this period, in this matter everybody that holds XC would get the shares.  This would also prevent any pump and dump scheme.

True, but it wouldn't be enough. I could trade off-exchange, and I could also claim XC Inc. shares, then pay the coins to another of my addresses, and claim again.

A multisig lock-in on a per-claim basis will be necessary.

address snapshot at certain time is enough ?

I don't know how that would work.

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[Sabretooth]

To avoid dumping its a matter of sequence.

1. First do your internal share offering for the holders of XC currency where they are 'given' shares based on how many XC they hold.  Close off 1.
2. Then allow the wider community to purchase shares using XC currency only - you could recycle the currency almost straight back to market to avoid price exploding beyond what is sustainable.
3. Then allow the wider community to purchase shares using any currency.

This should give a softer landing for XC.  IMHO I would skip 3 and only do 1 & 2, much better for everyone.

[SouthernBTC]

think we need to have a lock time or else some people might exploit it by claiming shares, then moving coins back to exchange and moving it back to another wallet.

If you need your coins on the exchange by lock time... then sorry.  no shares.

Yes, there will be a locked period. Much like how Archcoin and Supernet preformed their ICO. You won't gain access to the share until the IPO is finished. The market would be frozen for a time while the shares were distributed.

One concern I have is that creating xc inc. will deter people from using xcurrency, and once xc is a corporation, competing companies may not want to accept xcurrency. This is exciting news and I am intrigued, however there seems to be a catch 22 here. The explosion of btc and crypto can be attributed to their decentralized nature, how does xcurrency plan on remaining decentralized, especially when a majority of the xcurrency is also owned by soon to be company shareholders? Any thoughts?

'XCurrency' is a product / service under and controlled by 'XC Inc.' This service is money transfer / storage, which can be used be retailers as a form of payment. I hope this makes sense.

'XC Inc.' offers services and products such as 'XCurrency' or 'XChat' and so on...

XC tech is and will remain decentralized. That was Satoshi's original vision...XC continues that vision with the goal up 'Decentralizing the internet and services'  Most anon solutions out there are in fact centralized, which is a complete 360 on what Satoshi intended crypto-currency and blockchain products to be. I won't name any names...

If I buy 51% of shares, can I destroy Xcurrency? Wink

This hasn't been ratified yet, but 51% of the company would remain in 'XC hands' so we retain control and direction into the future.

As for the 'IPO / ICO ' name - Yes, there are legal implications that do arise. We are aware of this, and for that reason, this 'ICO' will be called a 'Pre-product or token sale or distribution '.   Terminology is very crucial here. With that said, I can say that we are already in the process / contact with the proper entities and authorities to solve all these concerns, and will have all this ironed out soon. An official, public announcement will be made on both our main website (www.xc-official.com), forums, and social media outlets once everything is in stone.

We are very pleased that everyone is so excited. Since day one we (the XC team) have had a shared vision / direction in where we saw XC going. Today we were able to begin sharing that vision with everyone.

We want to hear what your thoughts are, and continued discussion is fundamental to the long term success of XC. We will try to answer as many questions as possible, and provide all information in a timely manner. There is much more to come. This is only the beginning, but nothing will be the same.

Be sure to follow us on Twitter @XCurrency and on Facebook  (https://www.facebook.com/XCurrency)  for the latest news and releases from XC.

Thank you.
Nick Cote,
XC Social Media Manager

How can XCurrency be a decentralized currency when you say it is a product/service offered and controlled by XC Inc., that is a total contradiction. It seems like the team has some things to think about before continuing to make announcements. Earlier, Synechist said XCurrency and XC inc. have no organic connection, which is it? Come on people, this is the time to ask the tough questions and not follow blindly!

Edit: And if the currency is controlled by xc inc., I ask again, why would any other company accept a centralized product controlled by another company as payment?

[laredo7mm]

How can XCurrency be a decentralized currency when you say it is a product/service offered and controlled by XC Inc., that is a total contradiction. It seems like the team has some things to think about before continuing to make announcements. Earlier, Synechist said XCurrency and XC inc. have no organic connection, which is it? Come on people, this is the time to ask the tough questions and not follow blindly!

Edit: And if the currency is controlled by xc inc., I ask again, why would any other company accept a centralized product controlled by another company as payment?

It seems to me you are arguing semantics.  XC inc will "control" the XC wallet, just as it does now.  Except now it is called the XC team, not XC Inc.  When XC inc. is formed, how will the wallet be less decentralized than it is now?

Maybe maintain is a better word than control.

[cyberhacker]

How can XCurrency be a decentralized currency when you say it is a product/service offered and controlled by XC Inc., that is a total contradiction. It seems like the team has some things to think about before continuing to make announcements. Earlier, Synechist said XCurrency and XC inc. have no organic connection, which is it? Come on people, this is the time to ask the tough questions and not follow blindly!

Edit: And if the currency is controlled by xc inc., I ask again, why would any other company accept a centralized product controlled by another company as payment?

XC inc IS a company built on XC. the company is just developing apps on XC.  

xc is neither controlled by XC inc  nor centralized.  anyone can develop apps on XC


AND how can XC inc control a distributed coin which has nothing to do with centralized supernode or something.

[SouthernBTC]

How can XCurrency be a decentralized currency when you say it is a product/service offered and controlled by XC Inc., that is a total contradiction. It seems like the team has some things to think about before continuing to make announcements. Earlier, Synechist said XCurrency and XC inc. have no organic connection, which is it? Come on people, this is the time to ask the tough questions and not follow blindly!

Edit: And if the currency is controlled by xc inc., I ask again, why would any other company accept a centralized product controlled by another company as payment?

XC inc IS a company built on XC. the company is just developing apps on XC.  

xc is neither controlled by XC inc  nor centralized.  anyone can develop apps on XC


AND how can XC inc control a distributed coin which has nothing to do with centralized supernode or something.

I'm only questioning what Pizpie said, that xcurrency is a service/product to be controlled by xc inc. If xc is open-sourced will there be other wallets created by new start ups? Will xc inc embrace the competition? When will xcurrency be fully open sourced? I'm heavily invested here and have many questions and concerns. I don't mean to disrespect the team or the community and appreciate all of their hard work and input. I know I'm not the only one with these questions.

[MemoryShock]

I'm only questioning what Pizpie said, that xcurrency is a service/product to be controlled by xc inc. I'm concerned about how the wallet may change. If xc is open-sourced will there be other wallets created by new start ups? Will xc inc embrace the competition? When will xcurrency be fully open sourced? I'm heavily invested here and have many questions and concerns. I don't mean to disrespect the team or the community and appreciate all of their hard work and input. I know I'm not the only one with these questions.

Open sourcing is on a delayed timeline...case in point, Key Coin implemented XC's Rev 1 but when they did, XC was still way ahead of them...they benefited strongly in the short term but have tailed off significantly.  I'm not sure how much further down they would be if Dan wasn't helping with their OS (Disclaimer: I think it is awesome that Dan/XC team is working with other platforms though I don't chase them when announced.  I don't daytrade)...

Also consider Tesla Motors.  They announced that they were open sourced and they went up in value.  While that may be apples and oranges, the delayed timeline for XC open sourcing in tandem with the amount of integration they will have by then (presumably with 3.0 apps and more) then I am not worried about it in the least.

I'm only wondering how they will compete with Maidsafe...the projects are starting to sound very similar in idea...though I think that technicals might be way different (I really don't know on the latter nor do I really need to)...

As far as the term decentralized...I think it refers more to how the information is stored and transferred, which is between wallets installed on who knows how many computers rather than a server(s) located at a corporate HQ location.  The brand and coding could arguably be 'centralized' but that would be semantics and irrelevant in my opinion...

[adhitthana]

Did Krystos have anything more to say about XC?

[adhitthana]

XC's code will be completely open source. That's part of the appeal of the currency.

In contrast, XC Inc's

XC incorporated??
Is there some announcement about this development?

[battbot]

XC's code will be completely open source. That's part of the appeal of the currency.

In contrast, XC Inc's

XC incorporated??
Is there some announcement about this development?

https://bitcointalk.org/index.php?topic=630547.msg8942146#msg8942146

[SouthernBTC]

PDF: http://downloads.xc-official.com/images/14-09-23%20XCurrency%20begins%20launch%20preparations%20with%20%93bulletproofing%94%20measures%20and%20an%20ICO.pdf

BUMP

[Minotaur26]

Very interesting concept, if you accept an outsiders opinion, you guys should be careful on how you deploy XC, inc vs XCcurrency, once you have a company it will be judged in terms of its capability to produce revenue and growth, you kind of loose the currency as other companies, competing or from other industries would be less likely to take xc as currency. In my opinion, you risk xc coin becoming more like internal tokens for the company used only to pay for services related to it and not in completely unrelated situations like buying ice- cream or a tshirt. This is specially important for people that were initially invested in xc the currency and had no interest in acquiring shares of the company for example. So think really well how you would really keep the two separated in the eyes of the market so that the coins don’t become only internal tokens.

On the other hand,  if the people on the first round of the ICO would be able to claim shares and keep their coins too, they are basically paying nothing for the company's shares. What happens to people on round 2 they don’t keep their coins, so they would be paying full value for something others paid nothing for? For people on round two how do you establish 10xc a share is a fair price? What is the valuation of the company. Think well about those things before you launch the company, I am interested to see how it all turns out. Good luck.

[sugarboy321]

Very interesting concept, if you accept an outsiders opinion, you guys should be careful on how you deploy XC, inc vs XCcurrency, once you have a company it will be judged in terms of its capability to produce revenue and growth, you kind of loose the currency as other companies, competing or from other industries would be less likely to take xc as currency. In my opinion, you risk xc coin becoming more like internal tokens for the company used only to pay for services related to it and not in completely unrelated situations like buying ice- cream or a tshirt. This is specially important for people that were initially invested in xc the currency and had no interest in acquiring shares of the company for example. So think really well how you would really keep the two separated in the eyes of the market so that the coins don’t become only internal tokens.

On the other hand,  if the people on the first round of the ICO would be able to claim shares and keep their coins too, they are basically paying nothing for the company's shares. What happens to people on round 2 they don’t keep their coins, so they would be paying full value for something other paid nothing for? For people on round two how do you establish 10xc a share is a fair price? What is the valuation of the company. Think well about those things before you launch the company, I am interested to see how it all turns out. Good luck.

I am worried that XC will be subject to government rules.

[adhitthana]

How can XCurrency be a decentralized currency when you say it is a product/service offered and controlled by XC Inc.,

Wouldn't it be decentralised because nothing is going through a central server?
The operation of the network nodes make it decentralised...
Is that right?

[BTCgraphics]

How's the price of XC? In terms of new investors joining? I know this is probally a stupid question since most people will just say "BUY IT, WHERE GOING TO THE MOON"

But what would you say is a good entry point.

I just cashed out of cloakcoin, after running there marketing team (cloakdesk.com whatiscloakcoin.com) unfortunatly i didn't get much out of it after the price plummit, but i'm trying to decide what coin i would like to join next, Not to make a profit, but to invest my time, and talents into the community

[adhitthana]

I'm guessing without reading everything, that the point of incorporating some part of XC is to protect the code....?

[CryptoGretzky]

How's the price of XC? In terms of new investors joining? I know this is probally a stupid question since most people will just say "BUY IT, WHERE GOING TO THE MOON"

But what would you say is a good entry point.

I just cashed out of cloakcoin, after running there marketing team (cloakdesk.com whatiscloakcoin.com) unfortunatly i didn't get much out of it after the price plummit, but i'm trying to decide what coin i would like to join next, Not to make a profit, but to invest my time, and talents into the community

I don't think anybody within our community will necessary yell things like it's going to the moon because we are used to the slow rise (and fall) of the price of the coin.   What most of us are invested in is the team behind XC, the plan, the potential of what web 3.0, blockchain 2.0 and the trustless decentralized mesh network can bring.  

XC has been solidifying in the 120k-150k range for at least 2 months now.  What is a good entry point is really hard to say, but most of the consolidation has been happening within this range.   Just check out all the PR that Synechist has been delivering based on the development of the coin and you will see that solid development is happening.   Don't forget that Dan Metcalf has been the go to guy for other coins to get validation of their codes.

And... don't forget about the plan the XC team revealed today about XC Inc. where you can get shares of the corporation based on your XC holdings.   That's a first in the crypto community.  We don't know what that can bring... but look at the other well known companies that have been bought out (Skype, whatsapp, etc)  Those are worth BILLIONS without a decentralized mesh network.

[Minotaur26]

How can XCurrency be a decentralized currency when you say it is a product/service offered and controlled by XC Inc.,

Wouldn't it be decentralised because nothing is going through a central server?
The operation of the network nodes make it decentralised...
Is that right?

Yes, the backend can be decentralized with no single point of failure that is a feature of the product, but a company is centralized in a different way, it needs management, bank accounts, needs to present tax returns, have insurance, provide SLA to its customers, make marketing decisions, have employees? etc.

[SouthernBTC]

How can XCurrency be a decentralized currency when you say it is a product/service offered and controlled by XC Inc.,

Wouldn't it be decentralised because nothing is going through a central server?
The operation of the network nodes make it decentralised...
Is that right?

I truly don't know, this is all very experimental and interesting. This is the time to ask questions, nothing like this has been attempted before. In theory the nodes make it decentralized, however a large portion of xcurrency is still owned by approx 100 people, who will also be shareholders in the company. Therefore, unless we see more distribution, the currency itself will still be centralized,even if it's moving through multitudinous, decentralized nodes. That's how I picture it anyway. Will the currency be able to remain a seperate entity from the company; I guess we'll find out?

[CryptoGretzky]

How can XCurrency be a decentralized currency when you say it is a product/service offered and controlled by XC Inc.,

Wouldn't it be decentralised because nothing is going through a central server?
The operation of the network nodes make it decentralised...
Is that right?

I truly don't know, this is all very experimental and interesting. This is the time to ask questions, nothing like this has been attempted before. In theory the nodes make it decentralized, however a large portion of xcurrency is still owned by approx 100 people, who will also be shareholders in the company. Therefore, unless we see more distribution, the currency itself will still be centralized,even if it's moving through multitudinous, decentralized nodes. That's how I picture it anyway. Will the currency be able to remain a seperate entity from the company; I guess we'll find out?

What I can see is XC Inc. possibly have connection with big companies that want to utilize the mesh network to deliver content/ads can negotiate for a deal with the team so they can push it out for them for a fee and still the XNodes can receive fees for the actual delivery.   In that sense, they are almost like the ad agencies, but we are the network that has the reach.  That's just one aspect I can think off the top of my head.

Also... there are currently 388 address with at least 1000 XC.  So, I don't know where you are getting your 100 people stats from...

http://bitinfocharts.com/top-100-richest-x11coin-addresses.html