[PRE-ANN] Griftcoin [GRIFT] | X17 PoW | PoS | 1st Proof-of-RAM | Limited IPO

[djm34]

This is when I see that, that I think it would be a bad idea to release a gpu miners... (hope others potential gpu devs. think the same  ).
Because it will ruin any possible profit on the other and except from big renting farm, nobody (and certainly not the gpu devs) will get anyting out of this...

[BillBrasky]

IPO and 10% of each PoW block goes to Development Team + Grift Foundation

I have read all and its only "blablablabla" and it means only you are greedy.  

reading comprehension > you

Would you prefer a premine?

[quasimodo]

IPO and 10% of each PoW block goes to Development Team + Grift Foundation

I have read all and its only "blablablabla" and it means only you are greedy.  

reading comprehension > you

Would you prefer a premine?

Ha ha ha dev, do you really think I discuss with your newly created sockpuppet.  

[djm34]

if you use a proof of ram (like shinycoin... they call it ramhoge, you call it proof of ram... you are first in using "proof of ram" name not first in using it... actually you are just cloning any new stuffs around...)
can you try to make it such it doesn't use more than 8Gb... shinycoin dev was completely stupid with is 16gb min requirement...
(actually can you make it 2gb so that it fit into gpu's... ?)

[KingKoing]

I like the POW-POS-RAM idea.  Will their be bounties?  I'll at least keep an eye on it.

[MEGAman]

Wow 

[damiano]

wow no thanks

ipo + 10% going to dev yikes

[MEGAman]

wow no thanks

ipo + 10% going to dev yikes

10% of the PoW is essentially just an alternative to a premine which works out to effectively be a 2.5% premine. This is surprisingly low these days even if I would prefer lower. The fact that the devs want a cut could almost be seen as encouraging - after the PoW phase they don't receive anything until 180 days after launch (most devs these days don't even stick around that long!) Also, they have asked we reserve judgment until the official details surrounding the "Grift Foundation" are released as they claim it's an actual foundation, with an elected board, and not just another dev wallet like all of the other "foundations." We shall see - I will be the first to rip this thing apart if warranted - but I will respect their request to reserve judgement. Obviously, there are very few details here. It's a short thread at this point so perhaps people should run through it before posting to save everybody the confusion.

Also, this dev has managed to frame the IPO in a logical way. Would you rather your money goes to the power companies and has rental services or would you prefer it goes directly into the very coin you are investing in?

I will never understand people who ignore all of the information and make irrelevant posts or ask questions which have been answered multiple times.

[Grifter]

if you use a proof of ram (like shinycoin... they call it ramhoge, you call it proof of ram... you are first in using "proof of ram" name not first in using it... actually you are just cloning any new stuffs around...)
can you try to make it such it doesn't use more than 8Gb... shinycoin dev was completely stupid with is 16gb min requirement...
(actually can you make it 2gb so that it fit into gpu's... ?)

This is inaccurate. Proof-of-RAM is not the PoW algorithm - GRIFT PoW is X17 and is completely unrelated. Proof-of-RAM is an entirely new, energy-efficient form of minting we designed in-house from the ground up. PoR could be better likened to PoS and there are no minimum RAM requirements. The technical details will be released soon but, essentially, the more RAM you have, up until the 32GB cutoff, the more coins will be minted. This will help contribute to a strong network verifying transactions in addition to the standard PoS. Compromising the integrity of the GRIFT blockchain will be impossible which will make it the most secure cryptocurrency ever created. There will be a minimum coin requirement in order to benefit from PoR to ensure millions of VMs with empty wallets are not minting PoR coins and, in addition to this minimum, various tiers will exist to increase rewards for those with more coins.

[bonescollector]

love it! count me in! put me down for 1 btc on IPO A.

[djm34]

wow no thanks

ipo + 10% going to dev yikes

10% of the PoW is essentially just an alternative to a premine which works out to effectively be a 2.5% premine. This is surprisingly low these days even if I would prefer lower. The fact that the devs want a cut could almost be seen as encouraging - after the PoW phase they don't receive anything until 180 days after launch (most devs these days don't even stick around that long!) Also, they have asked we reserve judgment until the official details surrounding the "Grift Foundation" are released as they claim it's an actual foundation, with an elected board, and not just another dev wallet like all of the other "foundations." We shall see - I will be the first to rip this thing apart if warranted - but I will respect their request to reserve judgement. Obviously, there are very few details here. It's a short thread at this point so perhaps people should run through it before posting to save everybody the confusion.

Also, this dev has managed to frame the IPO in a logical way. Would you rather your money goes to the power companies and has rental services or would you prefer it goes directly into the very coin you are investing in?

I will never understand people who ignore all of the information and make irrelevant posts or ask questions which have been answered multiple times.

lol, when I see all your drama/trolling on Jackpotcoin regarding their premine, and your comment here.
It make think your are just a total lunatics   (a an easy-to-buy sock puppet).
Right now, I think you lost the little credibility you ever had assuming you ever had any  

[MEGAman]

wow no thanks

ipo + 10% going to dev yikes

10% of the PoW is essentially just an alternative to a premine which works out to effectively be a 2.5% premine. This is surprisingly low these days even if I would prefer lower. The fact that the devs want a cut could almost be seen as encouraging - after the PoW phase they don't receive anything until 180 days after launch (most devs these days don't even stick around that long!) Also, they have asked we reserve judgment until the official details surrounding the "Grift Foundation" are released as they claim it's an actual foundation, with an elected board, and not just another dev wallet like all of the other "foundations." We shall see - I will be the first to rip this thing apart if warranted - but I will respect their request to reserve judgement. Obviously, there are very few details here. It's a short thread at this point so perhaps people should run through it before posting to save everybody the confusion.

Also, this dev has managed to frame the IPO in a logical way. Would you rather your money goes to the power companies and has rental services or would you prefer it goes directly into the very coin you are investing in?

I will never understand people who ignore all of the information and make irrelevant posts or ask questions which have been answered multiple times.

lol, when I see all your drama/trolling on Jackpotcoin regarding their premine, and your comment here.
It make think your are just a total lunatics   (a an easy-to-buy sock puppet).
Right now, I think you lost the little credibility you ever had assuming you ever had any  

Take it easy tough guy - I never suggested this is an amazing investment. All I said was that there is very little info right now - how can you make a judgment without all of the info? The dev continually made it clear that there are more details coming. I make my decisions once all of the information has been collected. Did you miss the part where I said I would be the first one to tear this apart if it proves to be warranted? Jackpotcoin was (and still is) a premined piece of crap with no innovation or purpose. The jury is still out on this - it's an extremely early pre-announcement. You can't tear down everything new just because it's new.

[djm34]

wow no thanks

ipo + 10% going to dev yikes

10% of the PoW is essentially just an alternative to a premine which works out to effectively be a 2.5% premine. This is surprisingly low these days even if I would prefer lower. The fact that the devs want a cut could almost be seen as encouraging - after the PoW phase they don't receive anything until 180 days after launch (most devs these days don't even stick around that long!) Also, they have asked we reserve judgment until the official details surrounding the "Grift Foundation" are released as they claim it's an actual foundation, with an elected board, and not just another dev wallet like all of the other "foundations." We shall see - I will be the first to rip this thing apart if warranted - but I will respect their request to reserve judgement. Obviously, there are very few details here. It's a short thread at this point so perhaps people should run through it before posting to save everybody the confusion.

Also, this dev has managed to frame the IPO in a logical way. Would you rather your money goes to the power companies and has rental services or would you prefer it goes directly into the very coin you are investing in?

I will never understand people who ignore all of the information and make irrelevant posts or ask questions which have been answered multiple times.

lol, when I see all your drama/trolling on Jackpotcoin regarding their premine, and your comment here.
It make think your are just a total lunatics   (a an easy-to-buy sock puppet).
Right now, I think you lost the little credibility you ever had assuming you ever had any  

Take it easy tough guy - I never suggested this is an amazing investment. All I said was that there is very little info right now - how can you make a judgment without all of the info? The dev continually made it clear that there are more details coming. I make my decisions once all of the information has been collected. Did you miss the part where I said I would be the first one to tear this apart if it proves to be warranted? Jackpotcoin was (and still is) a premined piece of crap with no innovation or purpose. The jury is still out on this - it's an extremely early pre-announcement. You can't tear down everything new just because it's new.

For this coin it is easy to judge, someone released the first x17 yesterday coin and that dev jump right on it to release an other x17 coin adding on top of it when some people start to complain ramhog of shinycoin (thinking five second to that, let you realise that with ramhog there is no need of 17 different algo but hey...) And for all this cloning he haven't started yet: an IPO (must be noted that both shinycoin and peoplecoin have been released without an IPO nor premine... )

So basically that dev have absolutely no idea of what is doing, nor how he will do it, but he wants an IPO for mostly his hugly logo (that's basically the only thing he has at the moment...)

Regarding JPC, they have an innovative algo (no clone yet...), random jackpot, and independent pow/pos... and actually there are more work into it than this dev will ever put in the coin for which he claims an ipo...

[BillBrasky]

Any coin that has an IPO will have a thread full of FUD because people hate to see coin developers turn a profit. People expect devs to work for free and make everybody rich while getting nothing in return. Also people hate taking a risk to make a profit which is why they almost always lose in this game. How much more sense does an IPO make than just mining the whole time? You invest in the dev and the technology and the business model and they then have the funds to market, support, develop, and make it happen instead of trying to build and market a currency with zero funding while everybody is paying the power company, weakening the power grid, and contributing to global warming with none of the waste going back into the coin itself. With premines the devs just dump them to make money which hurts the value of the coin. This is a great concept and I've already heard radio ads for it already in the UK. This is the first altcoin that interests me enough to get involved because before this I never understood the point of having alternative currencies. I love bitcoin but never understood the point of a bunch of copycats with no purpose. These guys actually have a gameplan and a purpose. They put up an announcement so that people can keep an eye on things and mark down key dates and we have 2 pages of people flipping out before hardly anything has been announced. It's like a bunch of crazy politicians that complain just to complain.

[djm34]

Any coin that has an IPO will have a thread full of FUD because people hate to see coin developers turn a profit. People expect devs to work for free and make everybody rich while getting nothing in return.

yep that's true... that's why I called all other gpu dev to not release x17 until that coin has been released  
Because I don't understand why this dev will take out profit which could be made from developing proper software by literally hijacking the soft to his own profit (and against the original coin for which it was developed it without premine or else...)...
As you see, it works both way...

sorry no talent, no innovation just opportunism... from someone who doesn't even have a single idea of his own

[MEGAman]

wow no thanks

ipo + 10% going to dev yikes

10% of the PoW is essentially just an alternative to a premine which works out to effectively be a 2.5% premine. This is surprisingly low these days even if I would prefer lower. The fact that the devs want a cut could almost be seen as encouraging - after the PoW phase they don't receive anything until 180 days after launch (most devs these days don't even stick around that long!) Also, they have asked we reserve judgment until the official details surrounding the "Grift Foundation" are released as they claim it's an actual foundation, with an elected board, and not just another dev wallet like all of the other "foundations." We shall see - I will be the first to rip this thing apart if warranted - but I will respect their request to reserve judgement. Obviously, there are very few details here. It's a short thread at this point so perhaps people should run through it before posting to save everybody the confusion.

Also, this dev has managed to frame the IPO in a logical way. Would you rather your money goes to the power companies and has rental services or would you prefer it goes directly into the very coin you are investing in?

I will never understand people who ignore all of the information and make irrelevant posts or ask questions which have been answered multiple times.

lol, when I see all your drama/trolling on Jackpotcoin regarding their premine, and your comment here.
It make think your are just a total lunatics   (a an easy-to-buy sock puppet).
Right now, I think you lost the little credibility you ever had assuming you ever had any  

Take it easy tough guy - I never suggested this is an amazing investment. All I said was that there is very little info right now - how can you make a judgment without all of the info? The dev continually made it clear that there are more details coming. I make my decisions once all of the information has been collected. Did you miss the part where I said I would be the first one to tear this apart if it proves to be warranted? Jackpotcoin was (and still is) a premined piece of crap with no innovation or purpose. The jury is still out on this - it's an extremely early pre-announcement. You can't tear down everything new just because it's new.

For this coin it is easy to judge, someone released the first x17 yesterday coin and that dev jump right on it to release an other x17 coin adding on top of it when some people start to complain ramhog of shinycoin (thinking five second to that, let you realise that with ramhog there is no need of 17 different algo but hey...) And for all this cloning he haven't started yet: an IPO (must be noted that both shinycoin and peoplecoin have been released without an IPO nor premine... )

So basically that dev have absolutely no idea of what is doing, nor how he will do it, but he wants an IPO for mostly his hugly logo (that's basically the only thing he has at the moment...)

Regarding JPC, they have an innovative algo (no clone yet...), random jackpot, and independent pow/pos... and actually there are more work into it than this dev will ever put in the coin for which he claims an ipo...

It's easy to judge? We still don't know anything. Okay so it isn't the first X17 algo - did they even claim it was? Either way the X17 algo has been defined for a while I just haven't seen any other coins use it. The PoW period lasts for 2 weeks so why is the algo even that big of a deal? After the first 2 weeks in August it will be completely irrelevant.

What does Ramhog have to do with this coin? That's just a RAM-heavy PoW algo which has nothing to do with this. I typically don't buy into IPO coins either but they have their place and I felt like the dev gave a good explanation as to why they went that route. We all know how JPC will pan out - it's a piece of crap. Don't bring your dirty laundry into a pre-announcement thread with no info. If this guy was already asking people to send in BTC for the IPO I would say that would be a red flag but he isn't. And the logo is super ugly but it's one of the only coins that has an actual LOGO and not just some crappy/rowdy rendering that looks like something from 1996 made by a 12-year-old on 3DSMax. Also, this logo is hilarious and genius despite the horrid color scheme. All altcoin logos are fucking awful other than OctoCoin - these are mainly code guys making this stuff and they don't know shit about logos and branding - but who gives a fuck about the logo? If that's how/why you pick coins you are a moron.

This guy isn't asking you to send in you hard-earned cash based on this pre-announcement (unless I missed something?) No website, no details - all I'm saying is you have to reserve judgment until all pieces are in place. Then you can decide. If he is accepting BTC for the IPO already show me where and I'll change my tune quickly because this is certainly lacking the required info.

This is the level of intelligence I would expect from a JPC guy.

[MEGAman]

Any coin that has an IPO will have a thread full of FUD because people hate to see coin developers turn a profit. People expect devs to work for free and make everybody rich while getting nothing in return.

yep that's true... that's why I called all other gpu dev to not release x17 until that coin has been released  
Because I don't understand why this dev will take out profit which could be made from developing proper software by literally hijacking the soft to his own profit (and against the original coin for which it was developed it without premine or else...)...
As you see, it works both way...

sorry no talent, no innovation just opportunism... from someone who doesn't even have a single idea of his own

I'm confused? Have you seen the code for this coin? Where is it? Where are you getting all of this info? All I can find is what is in this thread. If you are basing all of this off nothing then it is truly the definition of baseless FUD. If you have proof to back up the claims, then by all means you know I would be doing the same thing but it appears you're pulling this all straight out of your ass.

Also no other coin has ever even hinted at "Proof-of-RAM" and we still don't even fully know what it is. Just because it has "RAM" in the name you are saying it's the same as "Ramhog" PoW? How does that make sense when this has nothing to do with PoW based on the description? Also, you have the grammar skills of a 5-year-old.

[escalicha]

getting place

[djm34]

x17 doesn't use much ram so he want to had something on top (hence my reference to shinycoin).
But as you said that's a lot of trouble for 2 weeks of mining.
So for me it shows he has nothing else than what he wrote on the OP (and the logo).

That's explain also why no webpage or anything else.
It means the coin exist only in his mind at the moment.

I think before asking for an IPO, he should at least had himself invested a bit of its time (and its money... website and so on) so he can show that he believes in what he wrote and that there is a chance it will go somewhere...

[lucienlu]

where is your souce code?