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Primitive
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July 31, 2014, 08:46:27 PM |
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6 packages already gone....
so these new packages are at 2x the original offering price? just want to clarify. |
NEM, LSK, STRAT
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bitsta (OP)
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July 31, 2014, 08:47:34 PM |
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6 packages already gone....
so these new packages are at 2x the original offering price? just want to clarify. correct. |
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Monkeys
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July 31, 2014, 09:14:27 PM |
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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.
Very well put, my sentiments exactly. Bravo =) 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
That is fantastic news! Great leadership Bitsta! Listening to your community and nurturing their desires is the best way to start off a coin strong! Like Saberu explained above, the distribution provided by a well planned POW phase is incredibly important to the value of a coin. From hundreds of little guys mining a few coins, telling their friends, selling and transferring a few coins here and there, to the mining farms that will likely dump as soon as they mine to get the early trading happening to give volume on exchanges, it is all important for a healthy coin! I commend you on this decision and I believe that it will result in a much greater outcome for all investors and the coin as a whole =) Any info on the revised POW schedule? Also, my vote is for scrypt, better distribution =) EDIT: If I could have my input on the new distribution model for Rootcoin I would vote for: 40% IPO, with the remaining packages limited to 1000 coins. 35% POW, 24 days, 1 minute blocks, 7 (is lucky number!) Rootcoin block rewards. 25% POS with annual interest declining each year, 5% first year, 4% next, 3% and so on. The declining interest model is important to give higher incentives to hold and stake in early years, declining slightly each year as distribution improves and dumping becomes less likely. |
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daxiake
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July 31, 2014, 09:41:43 PM |
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i think we need a long pow phase,10k root coin per day,tatal 90 days is very reasonable.
as far as i know,some miners have zero electric charge.if the supply is plenty,rootcoin will be dumped in days.
that will hurt the investors who pay 0.5 btc for a package.
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MaxOnBit
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July 31, 2014, 09:42:30 PM |
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SHA or Scypt ? No.
X13,15 or NIST5
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TrollboxChamp
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July 31, 2014, 09:42:58 PM |
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10000 satoshi is cheap for what this coin will offer. Cloak started at 11k and it has double the coins.
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Cornett
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July 31, 2014, 09:53:39 PM |
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10000 satoshi is cheap for what this coin will offer. Cloak started at 11k and it has double the coins.
CLOAK has 4.5 mil. coins. I remember it started from 10-12 ksat and rises to 60 ksat in the first pump without worked anon - only with promises, then correction to 30, FUD and waves, then steadily growing after anon implementing. This coin has only 3 mil. coin total with iPO amount and as Bitsta said that it will very hard to mine. With working unique anon tech from the launch - it is the brilliant. So you can make the conclusion |
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Monkeys
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July 31, 2014, 09:53:44 PM |
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i think we need a long pow phase,10k root coin per day,tatal 90 days is very reasonable.
as far as i know,some miners have zero electric charge.if the supply is plenty,rootcoin will be dumped in days.
that will hurt the investors who pay 0.5 btc for a package.
I think 30 days is reasonable for this coin, but I'm open to other interpretations =) I think with the amount of interest this coin has generated from both a mining perspective and from investors it is reasonable to assume that a large number of individuals will get in on the early mining phase as a way to get invested in this coin. After the first 2 weeks though I personally would be unsure whether to keep mining this coin without a more concrete knowledge of the value, so after that I would probably point my miner back to known value coins. I believe that other miners would also operate like this, and if they do, the majority left mining would be farms which take longer to find out about coins like this but then once they do, they usually hit it hard. That usually happens at around the 2 weeks point. Just look at Shadowcoin, it was planned for a 30 day POW phase, but after 12 days it got hit with a heavy amount of hashing from unknown sources and so it cut the POW phase short. I think this is an example of why a shorter POW phase for a coin like this will result in better distribution by encouraging individual miners who get in early to solo mine, rather than the big farms and pools taking over after a couple if weeks and making it hard for the little guys to mine any coins. My 0.02 ROOT |
MIDAS COIN: Gold backed crypto! Sign up via my referral link below and you get an extra 1.5% reward! PM me for info =) http://www.midaspool.com/ref/318Sign up via my referral link above and you receive an extra 1.5% reward for your hash! PM me for details |
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bitsta (OP)
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July 31, 2014, 09:58:29 PM |
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i think we need a long pow phase,10k root coin per day,tatal 90 days is very reasonable.
as far as i know,some miners have zero electric charge.if the supply is plenty,rootcoin will be dumped in days.
that will hurt the investors who pay 0.5 btc for a package.
I think 30 days is reasonable for this coin, but I'm open to other interpretations =) I think with the amount of interest this coin has generated from both a mining perspective and from investors it is reasonable to assume that a large number of individuals will get in on the early mining phase as a way to get invested in this coin. After the first 2 weeks though I personally would be unsure whether to keep mining this coin without a more concrete knowledge of the value, so after that I would probably point my miner back to known value coins. I believe that other miners would also operate like this, and if they do, the majority left mining would be farms which take longer to find out about coins like this but then once they do, they usually hit it hard. That usually happens at around the 2 weeks point. Just look at Shadowcoin, it was planned for a 30 day POW phase, but after 12 days it got hit with a heavy amount of hashing from unknown sources and so it cut the POW phase short. I think this is an example of why a shorter POW phase for a coin like this will result in better distribution by encouraging individual miners who get in early to solo mine, rather than the big farms and pools taking over after a couple if weeks and making it hard for the little guys to mine any coins. My 0.02 ROOT thanks alot for your input! |
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MaxOnBit
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July 31, 2014, 09:58:40 PM |
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2nd PoI stage available ? can i sent btc ?
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bitsta (OP)
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July 31, 2014, 10:08:04 PM |
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2nd PoI stage available ? can i sent btc ?
yes it s available. -----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
this is the BTC address for the investment payments:
1K9VsgtUXDaYNbJCVuH6nRtNvSZfTqmTCa
regards,
bitsta
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.25 (FreeBSD)
iQEcBAEBAgAGBQJT1xhaAAoJEMmvoAYnC0Imji4H/2IbXVk0+cPvYS5njRF+o41U
MaXYxsEakiPeqOWAPabjEyT4cubnaahgm/zLseUEfXccFNfbi3HjTwp7qO2AoxBY
SL1Iw5FI64ESU7Ct2NDeqP/yxUtFO1Tx4kFOXgtleZQCxzMevRjZbjJzjUtKTE+X
HZhFgIcxF81InvrLnL0VUMLr3MWWhhii0VQIW6FaD8cc472+UEHWMdLoWVS1+aV7
xeab2NKVnMamUcQ9H2yXlKIY/uCNoFRO26Z0wBxefmXfOM7jdj2BlJb+uISNfwK1
1RmqbxL265ym77dS3NXDPYvHUPl1eass1x5a4sFYGsRULOZEWMcoR6496htXQ/4=
=NPwo
-----END PGP SIGNATURE----- |
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Monkeys
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July 31, 2014, 10:40:47 PM |
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i think we need a long pow phase,10k root coin per day,tatal 90 days is very reasonable.
as far as i know,some miners have zero electric charge.if the supply is plenty,rootcoin will be dumped in days.
that will hurt the investors who pay 0.5 btc for a package.
I think 30 days is reasonable for this coin, but I'm open to other interpretations =) I think with the amount of interest this coin has generated from both a mining perspective and from investors it is reasonable to assume that a large number of individuals will get in on the early mining phase as a way to get invested in this coin. After the first 2 weeks though I personally would be unsure whether to keep mining this coin without a more concrete knowledge of the value, so after that I would probably point my miner back to known value coins. I believe that other miners would also operate like this, and if they do, the majority left mining would be farms which take longer to find out about coins like this but then once they do, they usually hit it hard. That usually happens at around the 2 weeks point. Just look at Shadowcoin, it was planned for a 30 day POW phase, but after 12 days it got hit with a heavy amount of hashing from unknown sources and so it cut the POW phase short. I think this is an example of why a shorter POW phase for a coin like this will result in better distribution by encouraging individual miners who get in early to solo mine, rather than the big farms and pools taking over after a couple if weeks and making it hard for the little guys to mine any coins. My 0.02 ROOT thanks alot for your input! Thank you, I'm glad you appreciate it. I do only want to give good advice for what I believe will make for a healthy coin =) Any thoughts on what the new POW schedule will be? I was thinking that if a long POW is desired , you could use a 2 week block halving schedule to deter the farms from coming in late? Though I usually don't think block halving is a good idea, better to have a shorter POW imo. |
MIDAS COIN: Gold backed crypto! Sign up via my referral link below and you get an extra 1.5% reward! PM me for info =) http://www.midaspool.com/ref/318Sign up via my referral link above and you receive an extra 1.5% reward for your hash! PM me for details |
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MaxOnBit
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July 31, 2014, 11:01:45 PM |
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2nd PoI stage available ? can i sent btc ?
yes it s available. -----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
this is the BTC address for the investment payments:
1K9VsgtUXDaYNbJCVuH6nRtNvSZfTqmTCa
regards,
bitsta
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.25 (FreeBSD)
iQEcBAEBAgAGBQJT1xhaAAoJEMmvoAYnC0Imji4H/2IbXVk0+cPvYS5njRF+o41U
MaXYxsEakiPeqOWAPabjEyT4cubnaahgm/zLseUEfXccFNfbi3HjTwp7qO2AoxBY
SL1Iw5FI64ESU7Ct2NDeqP/yxUtFO1Tx4kFOXgtleZQCxzMevRjZbjJzjUtKTE+X
HZhFgIcxF81InvrLnL0VUMLr3MWWhhii0VQIW6FaD8cc472+UEHWMdLoWVS1+aV7
xeab2NKVnMamUcQ9H2yXlKIY/uCNoFRO26Z0wBxefmXfOM7jdj2BlJb+uISNfwK1
1RmqbxL265ym77dS3NXDPYvHUPl1eass1x5a4sFYGsRULOZEWMcoR6496htXQ/4=
=NPwo
-----END PGP SIGNATURE-----
Thank you! Check PM from me please |
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bitsta (OP)
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July 31, 2014, 11:18:04 PM |
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2nd PoI stage available ? can i sent btc ?
yes it s available. -----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
this is the BTC address for the investment payments:
1K9VsgtUXDaYNbJCVuH6nRtNvSZfTqmTCa
regards,
bitsta
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.25 (FreeBSD)
iQEcBAEBAgAGBQJT1xhaAAoJEMmvoAYnC0Imji4H/2IbXVk0+cPvYS5njRF+o41U
MaXYxsEakiPeqOWAPabjEyT4cubnaahgm/zLseUEfXccFNfbi3HjTwp7qO2AoxBY
SL1Iw5FI64ESU7Ct2NDeqP/yxUtFO1Tx4kFOXgtleZQCxzMevRjZbjJzjUtKTE+X
HZhFgIcxF81InvrLnL0VUMLr3MWWhhii0VQIW6FaD8cc472+UEHWMdLoWVS1+aV7
xeab2NKVnMamUcQ9H2yXlKIY/uCNoFRO26Z0wBxefmXfOM7jdj2BlJb+uISNfwK1
1RmqbxL265ym77dS3NXDPYvHUPl1eass1x5a4sFYGsRULOZEWMcoR6496htXQ/4=
=NPwo
-----END PGP SIGNATURE-----
Thank you! Check PM from me please OP updated. |
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bamsterdam
Sr. Member
 Offline
Activity: 453
Merit: 261
Look Morty magic internet money
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July 31, 2014, 11:42:57 PM |
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50% IPO seems so high.. Wont the coin get dumped as soon as the price go up? 50% of total marketcap already in the hands of a few dozen people  Whats the algo going to be? |
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bitsta (OP)
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August 01, 2014, 12:14:23 AM |
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50% IPO seems so high.. Wont the coin get dumped as soon as the price go up? 50% of total marketcap already in the hands of a few dozen people Whats the algo going to be? The initial distribution is well planned. The cheap initial price provides a good base for a healthy future market. I am happy and calmed to see 50% of the coins in the hands of +100 serious investors instead of some big miners.. regarding the community-votes it looks like we re going to us the scrypt algo. regards, bitsta |
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TrollboxChamp
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August 01, 2014, 12:34:13 AM |
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50% IPO seems so high.. Wont the coin get dumped as soon as the price go up? 50% of total marketcap already in the hands of a few dozen people Whats the algo going to be? The initial distribution is well planned. The cheap initial price provides a good base for a healthy future market. I am happy and calmed to see 50% of the coins in the hands of +100 serious investors instead of some big miners.. regarding the community-votes it looks like we re going to us the scrypt algo. regards, bitsta Nice...Scrypt will be good! |
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Primitive
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August 01, 2014, 12:37:13 AM |
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bitsta... can you please clarify (i'm having a little trouble deciphering the OP).
-how many coins sold during the IPO? (total coins, both phases)
-how many total coin supply?
thanks!
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NEM, LSK, STRAT
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bitsta (OP)
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August 01, 2014, 12:40:13 AM |
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bitsta... can you please clarify (i'm having a little trouble deciphering the OP).
-how many coins sold during the IPO? (total coins, both phases)
-how many total coin supply?
thanks!
hi Primitive, total coins which will be sold in BOTH Proof of Investment stages = 1.500.000 ROOT total coin supply = 3.000.000 ROOT |
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cawson
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August 01, 2014, 12:44:33 AM |
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bitsta... can you please clarify (i'm having a little trouble deciphering the OP).
-how many coins sold during the IPO? (total coins, both phases)
-how many total coin supply?
thanks!
hi Primitive, total coins which will be sold in BOTH Proof of Investment stages = 1.500.000 ROOT total coin supply = 3.000.000 ROOT increase so much pow 30%, mined so soon....oh,price wil dump dump..... |
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