[ANN] [KEY] KeyCoin | Fair Launch | Daily Updates | 8/9 Status Update

[scorpio18]

KeyCoin Pool
http://key.coin-miners.info/
IS UP AND RUNNING!
MPOS POOL

1% Pool Fee / PROP payout system
Stratum with vardiff.
Stable SSD Server, DDOS protection.
Cashout are processed every minute.

Support at #COINMINERS freenode channel : https://webchat.freenode.net/?channels=#COINMINERS

Skype: coin.miners    

                                                       

Point your miners at: stratum+tcp://key.coin-miners.info:3388


Rent some x13 hash power at

http://www.miningrigrentals.com/

 

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[vuanhtuanfpt]

WTF 2001 > 2100 rewar 550 key?

[knightlife999]

I don't understand all the interest on this one, dev hasn't even posted since launch.

Exactly. It appears to be a guerilla-mined coin with a short P&D.   

[baby222]

Block 2001 - 2100: 550 KEY

wtf  now only 150?  shit

[atomicchaos]

You gotta wonder where 100+GH comes from in seconds. Must be private pools but man that is a lot of hash

It's really simple, multipools with X13 mining are currently hitting it. Plus places like Nicehash, people are buying up hashpower to mine.

[yellowduck2]

You gotta wonder where 100+GH comes from in seconds. Must be private pools but man that is a lot of hash

It's really simple, multipools with X13 mining are currently hitting it. Plus places like Nicehash, people are buying up hashpower to mine.

There are Chinese multipool which many people don't know and they don't advertise on bitcointalk. I have seen one in the past and they are way bigger than what u see on those known multipool

[atomicchaos]

You gotta wonder where 100+GH comes from in seconds. Must be private pools but man that is a lot of hash

It's really simple, multipools with X13 mining are currently hitting it. Plus places like Nicehash, people are buying up hashpower to mine.

There are Chinese multipool which many people don't know and they don't advertise on bitcointalk. I have seen one in the past and they are way bigger than what u see on those known multipool

Thanks for helping make my point, that hash power isn't a surprise to see.

[mangodream]

Net hashrate : 142.44 Gh/s ...

[iamaminer]

Dev,what's the plan?

[atomicchaos]

Net hashrate : 142.44 Gh/s ...

So in perspective, that's about 285 other people with a farm the same size or bigger than mine mining multipools to get paid BTC (or whatever poison the chose). Don't judge a coin by its hash rate, we really are only interested in draining BTC out of new crap coins.

[knightlife999]

Net hashrate : 142.44 Gh/s ...

So in perspective, that's about 285 other people with a farm the same size or bigger than mine mining multipools to get paid BTC (or whatever poison the chose). Don't judge a coin by its hash rate, we really are only interested in draining BTC out of new crap coins.

Devs are guerilla-mining, then will dump the coin. It looks like they rented a bunch of hashing power and set PoW for one day. This coin doesn't look like it was made to last for more than one week.

By the way, Hi atomic! Been a while.    

[HKBvM]

At least people in this thread are openly admitting that this coin will be dead within a few days. I call that progress.

[sdersdf2]

At least people in this thread are openly admitting that this coin will be dead within a few days. I call that progress.

lol - strangely enough, I guess that is progress.

[altcoinherald]

At least people in this thread are openly admitting that this coin will be dead within a few days. I call that progress.

Agreed. Everybody in altcoins suddenly knows the score 

[sdersdf2]

I don't understand all the interest on this one, dev hasn't even posted since launch.

Exactly. It appears to be a guerilla-mined coin with a short P&D.   

For the uninitiated among us (me), what are the key metrics you look for to figure out if a coin is being instamined for a rapid pump and dump - basically, what are the red flags?

[atomicchaos]

Net hashrate : 142.44 Gh/s ...

So in perspective, that's about 285 other people with a farm the same size or bigger than mine mining multipools to get paid BTC (or whatever poison the chose). Don't judge a coin by its hash rate, we really are only interested in draining BTC out of new crap coins.

Devs are guerilla-mining, then will dump the coin. It looks like they rented a bunch of hashing power and set PoW for one day. This coin doesn't look like it was made to last for more than one week.

By the way, Hi atomic! Been a while.    

Hey Knight, it has been a while!

I agree, the devs are probably the ones renting hash power, but whoever it is needs to recoup the large cost they paid. It might be worthwhile for people to ride it a bit, but I myself just took the extra mining revenue. I don't play around with the many crap coins coming out daily anymore, it really is silly unless one comes along that actually has some type of unique feature.

[mangodream]

New coins aren't called Scam coins anymore, they're newly named QuickMineAndDumpThisShitAsFastAsPossibleAndGoToAnotherShitCoin

BTW thanks dev for the profit 

[atomicchaos]

I don't understand all the interest on this one, dev hasn't even posted since launch.

Exactly. It appears to be a guerilla-mined coin with a short P&D.   

For the uninitiated among us (me), what are the key metrics you look for to figure out if a coin is being instamined for a rapid pump and dump - basically, what are the red flags?

The fact that a coin with so little content is so popular is a good indicator. It's wise to assume people aren't going to find the next bitcoin in a coin launched on bitcointalk.

[Revelation]

that is a very short term outlook right there. bitcoin should be seen as investment. altcoins can be used as smaller denomination currency

U don't understand how current alt coin works. Alt coin is meant for short term. Anyone who think alt coin is for long term will have a very high chance of losing money or making very little money.

I lost a lot of BTC holding alt coin for long term. Once i understand alt is for short term, i start to make some BTC. As time goes by thinking alt coin is for short term, i begin to make some serious BTC.

I wonder how old are you? This kind of "opportunity" in the market is an anomaly and the only reason you are making any money on trading shitcoins is because there are more people who are losing as shitcoins are negative-sum game. It cannot last for long and it is just a matter of time when this "opportunity" will die. This cannot end up well for the alts unless something changes dramatically.
====
Basically any shitcoin can become popular if dedicatedpool starts mining it and Bittrex lists it which always happens. So the market is not free, it is centralized and full of shitcoins. 

[keycoin]

A hello to the KeyCoin community from the KeyCoin team.

Our official introduction statement: https://mega.co.nz/#!YA82hLTB!Eh-qvTzt_0fLWfPjn_jn--uyuZEEAxa3dEtngD4f4Yw

Also here for those with problems with MEGA.

KeyCoin - “Security is KEY”
An Informal Message from the KeyCoin Team
July 16, 2014


Hello community, and all our fanatical supporters. Hello to the trusty FUDsters, as well.


We the developers decided not to post until the coin had passed the large block rewards that were intended as a community bonus, and to ensure a more fair distribution. We thought this would be beneficial to our miners, investors, and community. we also wanted to measure the reaction to a unique and fair distribution method.

The rewards were originally stated as Block 2001 - 2100 would be 550 KEY payout. However, the actual large blocks came before that, from Block 1601-2000.

This was intentional. We want to reward members of the community who were mining all along, not the multipools and giant hash farms who will wait for the target block and use so much hashrate.


The actual block rewards are very similar, as follows:

Block 1 - 400: 500 KEY
Block 401 - 700: 450 KEY
Block 701 - 1000: 350 KEY
Block 1001 - 1300: 300 KEY
Block 1301 - 1600: 250 KEY
Block 1601 - 2000: 550 KEY
Block 2001 - 2100: 150 KEY
Block 2101 - 3000: 100 KEY
Block 3001 - 4000: 50 KEY
Block 4001 - 4500: 1 KEY

The last 500 block rewards are very small, to make up for the huge rewards in the middle 400 blocks. We will be assisting the mining of these if the community lacks interest.







KeyCoin Team

There are 4 full time members on this project, with the backing of some very large investors. For now, we want to keep our identities confidential. We will consider naming ourselves in the future.

We are:
Member 1 - Full time C++ programmer, skilled with QT and cryptocurrency development.

Member 2 - Python, Ruby, and PHP programmer, with a focus on web application development and API integrations.

Member 3 - Well rounded, full time graphic designer specializing in usability and interface development.

Member 4 - Community relations and PR manager, will be maintaining our website, twitter, other social media, and press releases.

We have several technologies currently in the development phase that will bring meaning and understanding to both the name “KEY” and “Security is KEY.” To separate ourselves from current hype based white paper style coin releases, we will not be announcing all of these features at launch. Instead we will be releasing them and implementing the technologies in a controlled fashion over time to ensure continuous healthy movement in the coin, and a rewarding, unique trading experience for those that choose to invest. Our goal is to create something worthy of being added to larger exchanges, eventually reaching the point of larger scale adoption, we have the devs and the financial backing to accomplish this goal.



Questions and Answers: (from BitcoinTalk Thread)

Question: Why such a low coin count?

Answer:
Several reasons, in short:

The POW mining period was limited, we did this to eliminate the ominous presence of multipool dumps as our coin grows in value over the next few weeks.

Also, we want the value of each coin to be significant, as it is one of our goals to have an eventual USD pairing.



Question: Was this coin premined or heavily instamined by the devs?

Answer:
Absolutely not! We did have a bit of hash power distributed throughout the first few pools to ensure that things went smoothly with the launch. Things went incredibly well however and we experienced a massive amount of distributed hash power on the network that continues even today. This has created a healthy environment for the coin and it’s robust network.



Question: What is different about KEY?

Answer:
KEY is a forward thinking coin. We have made some small tweaks to Proof-of-Stake code after discussing the potential hazards with other experienced developers. These small changes, and the fact that we run the nodes and private checkpointing server on powerful machines, ensure a more secure network, which proves resilient to accumulation attacks.

KEY has attracted the eyes of the crypto community. KEY has large investors onboard, a focus on security, and KEY has a fair block reward structure, with the largest payout blocks in the middle of the rewards.

We will have ongoing announcements of development work, and MEET the target dates.



Question: What are some of the upcoming milestones for KEY?

Answer:
Now that the largest blocks, the community blocks, have been mined through, we will begin establishing a presence on social media and news outlets. We will reach out to the altcoin media, and the mainstream media in the future. A website is being developed, and useful features are currently being added to the QT wallet. A new logo is underway and being tested by a hired professional focus group for it’s branding potential.

We have chosen to limit the discussion of other work related to future developments as we believe that steady growth over time is the best means of establishing longevity in this economy.

Please, do not hesitate to ask us more questions in the future, we will answer them as time permits.




We will be releasing a detailed roadmap with a clear layout of our feature development and goals, with target release dates shortly.

Stay tuned and happy trading,

The Key Team
“Security is KEY”

You will be hearing more from us, now. We wished to remain silent until the largest blocks in the middle were fairly mined - at 150gh+, these blocks were well distributed.