[ANN] RootCoin [ROOT] - rootEX™ announced - ANON-tx using BitKey™- PoW/PoS/PoI

[Collegestudent]

Fuck off everyone who hates this coin. SUCK YOUR MOMS DICK OFF.

[Monkeys]

When I spoke to Bitsta about this coin I thought it might actually have a chance of becoming successful.

I thought there was a reason he was asking for votes on the algorithm? Perhaps if he will listen to the community in this case then this coin could have a real future.

Otherwise it'll be just another IPO coin, race to the exchange to dump, then dead after 1 month.

If you could try to build a good sustainable coin model instead, then you could make something with a future! More than just 47 BTC ;-)

[TrollboxChamp]

I think the math is wrong on how many coins POW will produce. I would just chill.

Let bitsta come and answer how many coins POW mining will create.

[SnjafSnjaf]

To bad that is limited on SHA and scrypt vote...

[bitsta]

dev we were wondering about the 5 minute blocktime and 5 reward. That would make PoW over 100 years but you said PoW is 10 days + 14 days.

24 days or 100 years?

total coincap = PoI+PoW+PoS

so its fine.




just to clarify again:
total coincap = PoI + 10 days PoW + 14 Days hybrid PoW/PoS + PoS for ~100 years

No it isn't fine. Not at all. That arrangement would not even be good for the investors, let alone the miners!?

If only 34k coins can be mined, whats the point for people to mine??

With this arrangement, at the end of POW there will be 1 million coins in the hands of investors, and only something like 50k coins in the hands of miners..

That is not a fair distribution, at all.

I vote for the block reward to be increased to at least 40 coins per block, or no deal..

You may be a big miner .so why u not ipo .did u see viacoin?

may be u just want mine  this coin dump dump.

I only found this coin yesterday, so I missed out on the IPO.

Even still, I would not buy in to an IPO with such an unfair coin distribution. There is no future for a coin that is only distributed among 50 people. This is my honest opinion.

If you want this coin to survive long, even medium term then you need to ensure that it gets distributed at least reasonably fairly. At least an even share between miners (33%) and investors (33%) and leave the rest for the POS (34%).

That is a much more fair distribution and will result in a healthy coin.

+1.

i ll look if the community agrees to your idea and make the 33.3% splitting between PoI, PoW and PoS...
but my plan was to provide an fair distribution. if needed with an adaption of the blockreward and/or
duration of PoW stage. But i am NOT going to let miners dump this coin. It will be ULTRAHARD to mine.
and it will be worth every hash.


EDIT: i just read your other posts and think you haven't fully understood the distribution model. There is NO 97% IPO.
There was a 33.3% preinvestment stage.

[TrollboxChamp]

Yeah but the POW period is 24 days and with block times and block rewards that means only 33k would be mined.

You need to make the block reward like 10-20 and block times 1-2 minutes

[Monkeys]

dev we were wondering about the 5 minute blocktime and 5 reward. That would make PoW over 100 years but you said PoW is 10 days + 14 days.

24 days or 100 years?

total coincap = PoI+PoW+PoS

so its fine.




just to clarify again:
total coincap = PoI + 10 days PoW + 14 Days hybrid PoW/PoS + PoS for ~100 years

No it isn't fine. Not at all. That arrangement would not even be good for the investors, let alone the miners!?

If only 34k coins can be mined, whats the point for people to mine??

With this arrangement, at the end of POW there will be 1 million coins in the hands of investors, and only something like 50k coins in the hands of miners..

That is not a fair distribution, at all.

I vote for the block reward to be increased to at least 40 coins per block, or no deal..

You may be a big miner .so why u not ipo .did u see viacoin?

may be u just want mine  this coin dump dump.

I only found this coin yesterday, so I missed out on the IPO.

Even still, I would not buy in to an IPO with such an unfair coin distribution. There is no future for a coin that is only distributed among 50 people. This is my honest opinion.

If you want this coin to survive long, even medium term then you need to ensure that it gets distributed at least reasonably fairly. At least an even share between miners (33%) and investors (33%) and leave the rest for the POS (34%).

That is a much more fair distribution and will result in a healthy coin.

+1.

i ll look if the community agrees to your idea and make the 33.3% splitting between PoI, PoW and PoS...
but my plan was to provide an fair distribution. if needed with an adaption of the blockreward and/or
duration of PoW stage. But i am NOT going to let miners dump this coin. It will be ULTRAHARD to mine.
and it will be worth every hash.


EDIT: i just read your other posts and think you haven't fully understood the distribution model. There is NO 97% IPO.
There was a 33.3% preinvestment stage.

Cheers Bitsta, I'm glad that you can see my side and are reasonable and intelligent in your response =)

I think that a 33.3% distribution model split between IPO, POW and POS is very fair, and ultimately will lead to a healthier coin in the long term.

A nice public transparent IPO such as this provides a good investment capital for the coin to grow. Another 33.3% POW phase, maybe 1 month in total, would provide a good amount of distribution for growth of the coin. Finally the remaining 33.3% will allow for an incentive for people to stake the coin to provide security to the network (and also not to dump!).

I'll even go so far as to say that I will mine this coin, but I will also make public my wallet address so that people can see that I will not dump this coin as long as new developments are being made.

[saberu]

Having PoW mine almost no coins benefits no one. Even as a small investor with just 0.25 BTC I feel it's deeply unfair, can't imagine how non investors feel about it. Under current arrangements it's practically just a 1 million coin limit coin with over 95% of coins given as an IPO which only really benefits big investors with 1 BTC + invested in IPO of which there's only 24 people.

It wasn't even clear in the OP that PoW was only going to be mining so few coins.

If we want this coin to obtain a good value long term we need day traders trading it on exchanges which creates volume. Right now we just have a handful of investors who are probably all 'waiting for the moon' which means we won't get much volume at lower prices and the market won't even get off the ground. If the market doesn't get going on this coin then sentiment won't go bullish. There is more to a market than just tech, it needs liquidity.

Even miners that dump the coin early are dong a good service, providing liquidity to allow a coin to trade at a high volume early on. TrollBoxChamp owns 5% of all coins, CollegeStudent 5%, 'anonymous' guy 5%, oilgoose 4%. that's around 20% of coins owned by four people.

I don't know really know what to say. It's up to bitsta because this isn't a democracy and it's his coin we can just give our opinions. But this does make me worry as I think the alt coin community and investment mindset is very much driven by sentiment towards the coin which may be a lot better with a fair PoW.

[Collegestudent]

40% of BTC are owned by 4 ppl. DEAL WITH IT

[bitsta]

Having PoW mine almost no coins benefits no one. Even as a small investor with just 0.25 BTC I feel it's deeply unfair, can't imagine how non investors feel about it. Under current arrangements it's practically just a 1 million coin limit coin with over 95% of coins given as an IPO which only really benefits big investors with 1 BTC + invested in IPO of which there's only 24 people.

It wasn't even clear in the OP that PoW was only going to be mining so few coins.

If we want this coin to obtain a good value long term we need day traders trading it on exchanges which creates volume. Right now we just have a handful of investors who are probably all 'waiting for the moon' which means we won't get much volume at lower prices and the market won't even get off the ground. If the market doesn't get going on this coin then sentiment won't go bullish. There is more to a market than just tech, it needs liquidity.

Even miners that dump the coin early are dong a good service, providing liquidity to allow a coin to trade at a high volume early on. TrollBoxChamp owns 5% of all coins, CollegeStudent 5%, 'anonymous' guy 5%, oilgoose 4%. that's around 20% of coins owned by four people.

I don't know really know what to say. It's up to bitsta because this isn't a democracy and it's his coin we can just give our opinions. But this does make me worry as I think the alt coin community and investment mindset is very much driven by sentiment towards the coin which may be a lot better with a fair PoW.

i may have the final word but i ll also think about community inputs and pay attention to them.

but don't worry. PoW will give all users (traders, miners, investors) the chance to join ROOT with an expecting profitability and fair
distribution.

[Cornett]

Are you kidding me?? ROOT will be the MOST fair coin, this is obviously

Top 55 mans own 33% of ROOT coins
Top 10 mans own 31.22 % XC (1,723,489 XC)
Top 15 mans own 33% CLOAKcoins

I can continue...you can check another most successful coins

Just LOL. What are you talking about guys

[bitsta]

Are you kidding me?? ROOT will be the MOST fair coin, this is obviously

Top 55 mans own 33% of ROOT coins
Top 10 mans own 31.22 % XC (1,723,489 XC)
Top 15 mans own 33% CLOAKcoins

I can continue...you can check another most successful coins

Just LOL. What are you talking about guys

yeah we have a great distribution. thats visible.

[TrollboxChamp]

Its good we can talk about this stuff

I think its important more investors can buy this coin for a fair price.

Whether on exchange or through rental of mining rigs.

[cawson]

Are you kidding me?? ROOT will be the MOST fair coin, this is obviously

Top 55 mans own 33% of ROOT coins
Top 10 mans own 31.22 % XC (1,723,489 XC)
Top 15 mans own 33% CLOAKcoins

I can continue...you can check another most successful coins

Just LOL. What are you talking about guys

yeah we have a great distribution. thats visible.

 The last 50 packages will be
sold for +50% of the initial price to provide a benefit for early investors.

who (from where)are the last 50 packages?

[bitsta]

Are you kidding me?? ROOT will be the MOST fair coin, this is obviously

Top 55 mans own 33% of ROOT coins
Top 10 mans own 31.22 % XC (1,723,489 XC)
Top 15 mans own 33% CLOAKcoins

I can continue...you can check another most successful coins

Just LOL. What are you talking about guys

yeah we have a great distribution. thats visible.

 The last 50 packages will be
sold for +50% of the initial price to provide a benefit for early investors.

who (from where)are the last 50 packages?

check the blockchain if you re not sure. tx's are sorted chronological.

(i will provide a sorted list within the next days.)

[pub111]

Voting!!! - PLEASE POST WHAT ALGO YOU WOULD LIKE TO SEE: SHA256 OR SCRYPT?

if i can choose.... SHA256

[daxiake]

dev,we neednot pow phase.

please extend the poi to get more ppl into the community.

try to divert miners eletric charge to rootcoin develope fund.

so it is possible to  hire great people to work with the dev.

have a look at viacoin.

[bitsta]

Due to the high demand (1st PoI sold out in under 24h) and multiple requests from users/investors we will
launch a 2nd PoI stage with 100 packages for 0.5 BTC each.

The 2nd PoI is representing 16.7% of the total cap.


Final specification will be: 50% PoI   |   30% PoW   |  20% PoS

[TrollboxChamp]

Due to the high demand (1st PoI sold out in under 24h) and multiple requests from users/investors we will
launch a 2nd PoI stage with 100 packages for 0.5 BTC each.

The 2nd PoI is representing 16.3% of the total cap.


Final specification will be: 50% PoI   |   30% PoW   |  20% PoS

AWESOME!!!

[bitsta]

Due to the high demand (1st PoI sold out in under 24h) and multiple requests from users/investors we will
launch a 2nd PoI stage with 100 packages for 0.5 BTC each.

The 2nd PoI is representing 16.3% of the total cap.


Final specification will be: 50% PoI   |   30% PoW   |  20% PoS

AWESOME!!!

6 packages already gone....