ECCoin (ECC) Takeover by Trusted-Cryptos Team [Griffith]

[mdtspain]

So mintpal is closing the market and we have to get our coins out asap, but they are on the wrong fork?  Pretty good.

Did you read anything of what's written above?
Griffith & mdtspain updated the wallets, so both windows and mac wallets are on the Mintpal chain...
So please just update your wallet and redownload the blockchain.
After that you can withdraw your coins from Mintpal.

Regards

Goldmaxx

Yes, yes I did.  Specifically;

NOTE* we need to check with the exchanges to make sure they are on the correct fork. ALSO mintpal withdrawals are on hold until i get the new block explorer up and running (shouldn't be too long from now)

And didn't see a link to a new block explorer.  I'm not on windows or mac, and after having checked out the latest git source and compiled, it seems to be showing me v1.6. I re-downloaded the entire blockchain from scratch,  and while my local balance shows fine, a test withdrawal from mintpal still hasn't arrived.   However, after just re-checking, it seems mintpal hasn't even attempted to send it (no txid), despite the withdrawal being in a 'confirmed' status more than 8hrs ago.  So, I'll follow up with them and see whats up.

Mintpal knows that the problem is resolved. I did the test myself, first I have send coins to mintpal, then I have send them back. Mintpal still has the automated pay-outs offline. Just ask them to process your withdraw....It works just fine. Also from Poloniex it works just fine (for the persons that still have ECC over there.

[Griffith]

been a few days since i last posted. just want to say that wallet version 1.8 will be a hardfork coming out more than likely tomorrow. since the blockchain speed varries so much it is hard to say exactly which block but i will plan for one sometime in the morning (with my best time guesses).

1.8 will attempt to fix:
- block chain speed issues (block times are being taken from 45 seconds to 30 seconds.)
- staking issues (it will no longer be 42 days to 84 days. it will be 8 hours to 7 days)
- inflation rate issues (flat inflation rate matching the average economy inflation rate of the last 20 years, aka 2.5% with decay)
- an official meaning for EC in the ECCoin name.

1.8 will also lay the basis for a new protocol i want to introduce into this coin. the concept is similar to the dark send that darkcoin was supposed to have come out with. no, there will not be a masternode thing. when i announce the definition for EC in ECCoin it will be more clear on what the new protocol i am building into the coins code will attempt to do.

other things, i will be getting a new block explorer up soon. i was originally going to attempt to host one myself but i will be moving soon so that plan has canceled.

With the release of 1.8 exchanges that i have listed that currently host a trading platform for the coin (along with 2 more i need to add) will be notified and asked to update their code. and i will post statuses to each exchange when i hear back from them.


NOTE*** i say 1.8 will attempt to fix, i say attempt because the POS system relies on people leaving thier wallets open to stake coins instead of miners moving the block chain. the less people that have thier wallet open, the less chance of finding stakeable coins the network has and the slower the blockchain moves. i am adjusting block times and stuff to attempt to get it to cycle through the off wallets faster so the chain will move quicker with less people.

i will update the original post and should be back here about 24 hours from now with an update on wallet and exchange progress

[goldmaxx]

What can I say?
Great job Griffith & mdtspain!!!

Regards

Goldmaxx

[mdtspain]

What can I say?
Great job Griffith & mdtspain!!!

Regards

Goldmaxx

Realy, in my eyes it's Griffith who is doing the BIG job.

Great Job Griffith!

[cheozuka]

Crap! I sent 4million ecc coins to the wallet adress from mint. wallet was not fully sync'd, it is now.
there is no transaction received.

what should I do?

I have just signed into Mint, and it shows it as a pending withdrawal.
I got the latest wallet from the top post here.

[mdtspain]

Crap! I sent 4million ecc coins to the wallet adress from mint. wallet was not fully sync'd, it is now.
there is no transaction received.

what should I do?

I have just signed into Mint, and it shows it as a pending withdrawal.
I got the latest wallet from the top post here.

You have to ask mintpal to process the payment.

Mintpal knows that the problem is resolved. I did the test myself, first I have send coins to mintpal, then I have send them back. Mintpal still has the automated pay-outs offline. Just ask them to process your withdraw....It works just fine. Also from Poloniex it works just fine (for the persons that still have ECC over there.

[Majormax]

been a few days since i last posted. just want to say that wallet version 1.8 will be a hardfork coming out more than likely tomorrow. since the blockchain speed varries so much it is hard to say exactly which block but i will plan for one sometime in the morning (with my best time guesses).

1.8 will attempt to fix:
- block chain speed issues (block times are being taken from 45 seconds to 30 seconds.)
- staking issues (it will no longer be 42 days to 84 days. it will be 8 hours to 7 days)
- inflation rate issues (flat inflation rate matching the average economy inflation rate of the last 20 years, aka 2.5% with decay)
- an official meaning for EC in the ECCoin name.

1.8 will also lay the basis for a new protocol i want to introduce into this coin. the concept is similar to the dark send that darkcoin was supposed to have come out with. no, there will not be a masternode thing. when i announce the definition for EC in ECCoin it will be more clear on what the new protocol i am building into the coins code will attempt to do.

other things, i will be getting a new block explorer up soon. i was originally going to attempt to host one myself but i will be moving soon so that plan has canceled.

With the release of 1.8 exchanges that i have listed that currently host a trading platform for the coin (along with 2 more i need to add) will be notified and asked to update their code. and i will post statuses to each exchange when i hear back from them.


NOTE*** i say 1.8 will attempt to fix, i say attempt because the POS system relies on people leaving thier wallets open to stake coins instead of miners moving the block chain. the less people that have thier wallet open, the less chance of finding stakeable coins the network has and the slower the blockchain moves. i am adjusting block times and stuff to attempt to get it to cycle through the off wallets faster so the chain will move quicker with less people.

i will update the original post and should be back here about 24 hours from now with an update on wallet and exchange progress

Inflation rate, long term presumably. The original concept for PoS was 30% in the first year with a taper. IMO ECC will be more successful with a higher rate in year 1 (I suggest 100-150% PoS). That will give incentive for new buyers. I have expounded this issue before.

[cheozuka]

Crap! I sent 4million ecc coins to the wallet adress from mint. wallet was not fully sync'd, it is now.
there is no transaction received.

what should I do?

I have just signed into Mint, and it shows it as a pending withdrawal.
I got the latest wallet from the top post here.

You have to ask mintpal to process the payment.

Mintpal knows that the problem is resolved. I did the test myself, first I have send coins to mintpal, then I have send them back. Mintpal still has the automated pay-outs offline. Just ask them to process your withdraw....It works just fine. Also from Poloniex it works just fine (for the persons that still have ECC over there.

Thanks for the response! It came through by itself! woo-hoo!
I guess mintpal checked as they were going to pull all the ECC coins from their site yesterday.

[Griffith]

The hardfork for wallet version 1.8 for EasyClearCoin [ECCoin] will be live as soon as we finish compiling it (doing it now).

The code as been edited to address the following things as i had stated before:
- block chain speed issues (block times are being taken from 45 seconds to 30 seconds.)
- staking issues (it will no longer be 42 days to 84 days. it will be 8 hours to 7 days)
- inflation rate issues (flat inflation rate matching the average economy inflation rate of the last 20 years, aka 2.5% with decay)


The official meaning for EC in the ECCoin name is Easy and Clear. the Coins now official name is EasyClearCoin.

which means yes, i am currently working on a clear send protocol (its not done yet) that will be out in the next major update of 1.9. (maybe a week or two, depending on how much time i have) this protocol for sending will work to do the opposite of what cloak coin and dark coin tried to do. instead of anoning and hiding the transactions of coins sent across the block chain, this coin will work to make the chain more transparent and easier to follow so that it is easier to track coins rather than make it harder. i believe that having this in a coin will make it easier to be accepted by the current standing governments and such because it is easy to address their biggest excuse for not allowing bitcoin [money laundering]. i will provide a more detailed description of the protocl and how it works when it is more towards completion.

[xzh16888]

very good !  However, the value of a coin to make the improvement, there are many things to do。

it will no longer be 42 days to 84 days. it will be 8 hours to 7 days。 Means that each time after 7 days, we will have to open their wallets again, to make purses continue to produce interest?

[Majormax]

The hardfork for wallet version 1.8 for EasyClearCoin [ECCoin] will be live as soon as we finish compiling it (doing it now).

The code as been edited to address the following things as i had stated before:
- block chain speed issues (block times are being taken from 45 seconds to 30 seconds.)
- staking issues (it will no longer be 42 days to 84 days. it will be 8 hours to 7 days)
- inflation rate issues (flat inflation rate matching the average economy inflation rate of the last 20 years, aka 2.5% with decay)


The official meaning for EC in the ECCoin name is Easy and Clear. the Coins now official name is EasyClearCoin.

which means yes, i am currently working on a clear send protocol (its not done yet) that will be out in the next major update of 1.9. (maybe a week or two, depending on how much time i have) this protocol for sending will work to do the opposite of what cloak coin and dark coin tried to do. instead of anoning and hiding the transactions of coins sent across the block chain, this coin will work to make the chain more transparent and easier to follow so that it is easier to track coins rather than make it harder. i believe that having this in a coin will make it easier to be accepted by the current standing governments and such because it is easy to address their biggest excuse for not allowing bitcoin [money laundering]. i will provide a more detailed description of the protocl and how it works when it is more towards completion.

Please can you clarify the changes to PoS % in the new wallet. Do you think it is wise to change any % at this stage (min/max times I understand) ?

[mdtspain]

The hardfork for wallet version 1.8 for EasyClearCoin [ECCoin] will be live as soon as we finish compiling it (doing it now).

The code as been edited to address the following things as i had stated before:
- block chain speed issues (block times are being taken from 45 seconds to 30 seconds.)
- staking issues (it will no longer be 42 days to 84 days. it will be 8 hours to 7 days)
- inflation rate issues (flat inflation rate matching the average economy inflation rate of the last 20 years, aka 2.5% with decay)


The official meaning for EC in the ECCoin name is Easy and Clear. the Coins now official name is EasyClearCoin.

which means yes, i am currently working on a clear send protocol (its not done yet) that will be out in the next major update of 1.9. (maybe a week or two, depending on how much time i have) this protocol for sending will work to do the opposite of what cloak coin and dark coin tried to do. instead of anoning and hiding the transactions of coins sent across the block chain, this coin will work to make the chain more transparent and easier to follow so that it is easier to track coins rather than make it harder. i believe that having this in a coin will make it easier to be accepted by the current standing governments and such because it is easy to address their biggest excuse for not allowing bitcoin [money laundering]. i will provide a more detailed description of the protocl and how it works when it is more towards completion.

Please can you clarify the changes to PoS % in the new wallet. Do you think it is wise to change any % at this stage (min/max times I understand) ?

In my opinion Griffith is totaly right changing the PoS %. What we are trying to do is getting ECC back on the right track and let the price of ECC go up again instead of going down.

By changing the PoS % we will have less coins coming into the system. A high PoS % is nothing more than inflation. So with 25% PoS the value of our coin will only go down quicker. In the current situation, now that ECC has less attention and less supporters, we need to protect the investment of those supporters and in the same time create a base so that we can start rebuilding and develop the coin.

[Remy_5]

- inflation rate issues (flat inflation rate matching the average economy inflation rate of the last 20 years, aka 2.5% with decay)

Please can you clarify the changes to PoS % in the new wallet. Do you think it is wise to change any % at this stage (min/max times I understand) ?

In my opinion Griffith is totaly right changing the PoS %. What we are trying to do is getting ECC back on the right track and let the price of ECC go up again instead of going down.

By changing the PoS % we will have less coins coming into the system. A high PoS % is nothing more than inflation. So with 25% PoS the value of our coin will only go down quicker. In the current situation, now that ECC has less attention and less supporters, we need to protect the investment of those supporters and in the same time create a base so that we can start rebuilding and develop the coin.

I can understand your point of view with regard to inflation, but what should be the spring that should push
an investor to buy now the ECC and to raise the price?

In general, the % yield of an investment should be proportionate to the risk, and excluding the
commendable personal commitment of those present, here at the moment I do not see any security,
indeed.

With a 2.5% interest rate, it would be even more convenient 'invest under the mattress', if you'll
pardon the exaggeration.

At least the mattress does not need to keep your computer turned on and the wallet ready for staking,
which is still a real cost to consider.

I realize that there are two complementary types of vicious circles:
    1) too much, which leads to inflation and investors flee
    2) too little, in which investors do not even care about.

So instead of a drastic cut right now, do not you think it would be better to find a way softer, I mean
gradually reduce the rate as the state of health of the currency improves?

This is just my opinion at the moment, not a final judgment negative.

PS:
There are also coins with rates much higher and they are still there after many months.

[mdtspain]

- inflation rate issues (flat inflation rate matching the average economy inflation rate of the last 20 years, aka 2.5% with decay)

Please can you clarify the changes to PoS % in the new wallet. Do you think it is wise to change any % at this stage (min/max times I understand) ?

In my opinion Griffith is totaly right changing the PoS %. What we are trying to do is getting ECC back on the right track and let the price of ECC go up again instead of going down.

By changing the PoS % we will have less coins coming into the system. A high PoS % is nothing more than inflation. So with 25% PoS the value of our coin will only go down quicker. In the current situation, now that ECC has less attention and less supporters, we need to protect the investment of those supporters and in the same time create a base so that we can start rebuilding and develop the coin.

I can understand your point of view with regard to inflation, but what should be the spring that should push
an investor to buy now the ECC and to raise the price?

In general, the % yield of an investment should be proportionate to the risk, and excluding the
commendable personal commitment of those present, here at the moment I do not see any security,
indeed.

With a 2.5% interest rate, it would be even more convenient 'invest under the mattress', if you'll
pardon the exaggeration.

At least the mattress does not need to keep your computer turned on and the wallet ready for staking,
which is still a real cost to consider.

I realize that there are two complementary types of vicious circles:
    1) too much, which leads to inflation and investors flee
    2) too little, in which investors do not even care about.

So instead of a drastic cut right now, do not you think it would be better to find a way softer, I mean
gradually reduce the rate as the state of health of the currency improves?

This is just my opinion at the moment, not a final judgment negative.

PS:
There are also coins with rates much higher and they are still there after many months.

We know that there are other coins with higher rates, but we can't compare them with ECC. ECC has a lot of coins ...~18 Billion in the POW stage only and going to 50 Billion. We can keep staking them in our wallet, but there will never be enough investors to buy those coins from us.

So, for now we have planned to stop creating that much coins. We have some other ideas to get the coin going again, but we will keep that for the following fases. Those fases we will announce here, because before we implement that we want everybody ( ~80% ) to agree with that.

We are commited to bring this coin back. We hold this coin ourselves. In my case I bought most of them on Mintpal, when it still was traded against BTC.

[Griffith]

hi. yeah. i got pulled away for the last 24 hours. one of my girlfriends friends had died. so needless to say i couldnt be here. im back. i will read what i have missed in the thread and will start to clarify stuff momentarily. (ill also put the new wallet up since i never got the chance to do that)


EDIT: wallets will be released next time i am able to talk to mdtspain in IRC

[Majormax]

The hardfork for wallet version 1.8 for EasyClearCoin [ECCoin] will be live as soon as we finish compiling it (doing it now).

The code as been edited to address the following things as i had stated before:
- block chain speed issues (block times are being taken from 45 seconds to 30 seconds.)
- staking issues (it will no longer be 42 days to 84 days. it will be 8 hours to 7 days)
- inflation rate issues (flat inflation rate matching the average economy inflation rate of the last 20 years, aka 2.5% with decay)


The official meaning for EC in the ECCoin name is Easy and Clear. the Coins now official name is EasyClearCoin.

which means yes, i am currently working on a clear send protocol (its not done yet) that will be out in the next major update of 1.9. (maybe a week or two, depending on how much time i have) this protocol for sending will work to do the opposite of what cloak coin and dark coin tried to do. instead of anoning and hiding the transactions of coins sent across the block chain, this coin will work to make the chain more transparent and easier to follow so that it is easier to track coins rather than make it harder. i believe that having this in a coin will make it easier to be accepted by the current standing governments and such because it is easy to address their biggest excuse for not allowing bitcoin [money laundering]. i will provide a more detailed description of the protocl and how it works when it is more towards completion.

Please can you clarify the changes to PoS % in the new wallet. Do you think it is wise to change any % at this stage (min/max times I understand) ?

In my opinion Griffith is totaly right changing the PoS %. What we are trying to do is getting ECC back on the right track and let the price of ECC go up again instead of going down.

By changing the PoS % we will have less coins coming into the system. A high PoS % is nothing more than inflation. So with 25% PoS the value of our coin will only go down quicker. In the current situation, now that ECC has less attention and less supporters, we need to protect the investment of those supporters and in the same time create a base so that we can start rebuilding and develop the coin.

My belief is that is flawed reasoning. Reducing the PoS % will not improve prospects. A substantial increase to 150% has a chance of drawing new investors. Without them, there is no future. The supply of a coin matters far less than demand.

A scarce coin can just as easily be a dead coin. Demand is the key variable.

[xzh16888]

this coin will work to make the chain more transparent and easier to follow so that it is easier to track coins rather than make it harder. More transparent and also features key is to have their own characteristics, but also a marketing strategy

[Griffith]

v 1.8 wallets have been released. the windows QT graphics are a bit fucked up but who cares. these edits should fix the problems in the block chain speed (new source too). we are going to start contacting exchanges soon about getting on track and a new block explorer will be going up

[cakir]

v 1.8 wallets have been released. the windows QT graphics are a bit fucked up but who cares. these edits should fix the problems in the block chain speed (new source too). we are going to start contacting exchanges soon about getting on track and a new block explorer will be going up

thats awesome!

I'm syncing now!

[xzh16888]

the windows QT connection fails