Re: [ANN] Halcyon - x15 POS - Cryptsy Bittrex - Dev Slow but Continue

[ShadowBits]

Dev is a mac wallet in the works? Would love to stake my HAL and maybe run a node but I'm not going to shell out $$$ for a copy of Windows to run on a VM.

Although I don't have a Mac, nor do I like Macs, for the sake of even distribution, he has a point.  Its imperative to release wallets for Mac, Linux, and Windows.  Bonus for smart phone apps.

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[chinchs]

We may need to re think the masternode system, how many masternodes are you aiming to (using a quarter of coins for masternodes will get you a max of 200 masternodes... that would be enough?)?

In the case of getting an extra %3, users will get 60 HAL more per year? I don't think that can cover the cost of setting up an extra box for a year (not even in VM scenarios), unless value rises a lot...

Another thing... if we can modify the reward, we may think in another feature... you said masternodes would protect the network, but since you will need a lot of coins, a Deep dive of the value (or great rise), could cause users to drop their coins. So, if reward is greater, maybe there is a way to hold the status of a masternode for a fixed term, let say you set your wallet as masternode, then your coins can't be send for x blocks (to prevent a massive drop of the amount of masternodes).

[HigherSkies]

We may need to re think the masternode system, how many masternodes are you aiming to (using a quarter of coins for masternodes will get you a max of 200 masternodes... that would be enough?)?

In the case of getting an extra %3, users will get 60 HAL more per year? I don't think that can cover the cost of setting up an extra box for a year (not even in VM scenarios), unless value rises a lot...

Another thing... if we can modify the reward, we may think in another feature... you said masternodes would protect the network, but since you will need a lot of coins, a Deep dive of the value (or great rise), could cause users to drop their coins. So, if reward is greater, maybe there is a way to hold the status of a masternode for a fixed term, let say you set your wallet as masternode, then your coins can't be send for x blocks (to prevent a massive drop of the amount of masternodes).

I like this idea.

[WarNeverChanges]

There are more than 5 coins being added to Mintpal V2. Still a great achievement though!

Only five more are being added that weren't on the original list of coins that were going to be there.  Yes more than five new coins will be there than what mintpal had.

More like one of nine:

Crypti
Greenbacks
Halcyon
IOCoin
Librexcoin
Neoscoin
Shadowcoin
Stealthcoin
Viacoin

[Pala_00]

When Peersend will be released?

[hrshak462]

There are more than 5 coins being added to Mintpal V2. Still a great achievement though!

Only five more are being added that weren't on the original list of coins that were going to be there.  Yes more than five new coins will be there than what mintpal had.

More like one of nine:

Crypti
Greenbacks
Halcyon
IOCoin
Librexcoin
Neoscoin
Shadowcoin
Stealthcoin
Viacoin

I can't be sure but I think that list was smaller earlier.  I thought I would have noticed Greenbacks.  Oh well, no biggie. 

[ShadowBits]

There are more than 5 coins being added to Mintpal V2. Still a great achievement though!

Only five more are being added that weren't on the original list of coins that were going to be there.  Yes more than five new coins will be there than what mintpal had.

More like one of nine:

Crypti
Greenbacks
Halcyon
IOCoin
Librexcoin
Neoscoin
Shadowcoin
Stealthcoin
Viacoin

I can't be sure but I think that list was smaller earlier.  I thought I would have noticed Greenbacks.  Oh well, no biggie. 

Glad they included Greenbacks.  The wallet is actually pretty nice.  I haven't tried Librexcoin.  Glad Halcyon is on that list.  Isn't source also being checked out by someone?  This might of been news a week ago, I forget.

[jiapetz]

When Peersend will be released?

It's already out lol

Reward system is pending implementation...should be soon though.

[Djinou94]

There are more than 5 coins being added to Mintpal V2. Still a great achievement though!

Only five more are being added that weren't on the original list of coins that were going to be there.  Yes more than five new coins will be there than what mintpal had.

More like one of nine:

Crypti
Greenbacks
Halcyon
IOCoin
Librexcoin
Neoscoin
Shadowcoin
Stealthcoin
Viacoin

I can't be sure but I think that list was smaller earlier.  I thought I would have noticed Greenbacks.  Oh well, no biggie. 

Glad they included Greenbacks.  The wallet is actually pretty nice.  I haven't tried Librexcoin.  Glad Halcyon is on that list.  Isn't source also being checked out by someone?  This might of been news a week ago, I forget.

They add Crypti too

[jiapetz]

We may need to re think the masternode system, how many masternodes are you aiming to (using a quarter of coins for masternodes will get you a max of 200 masternodes... that would be enough?)?

In the case of getting an extra %3, users will get 60 HAL more per year? I don't think that can cover the cost of setting up an extra box for a year (not even in VM scenarios), unless value rises a lot...

Another thing... if we can modify the reward, we may think in another feature... you said masternodes would protect the network, but since you will need a lot of coins, a Deep dive of the value (or great rise), could cause users to drop their coins. So, if reward is greater, maybe there is a way to hold the status of a masternode for a fixed term, let say you set your wallet as masternode, then your coins can't be send for x blocks (to prevent a massive drop of the amount of masternodes).

Interesting idea, which I also think would be nice to implement...especially the part about "locking" up coins used for a masternode so that they are time-locked for a certain period of time.

There definitely should be an external incentive aside from extra HAL staking. A bonus stake % would simply increase the inflation rate, and as said by others, it wouldn't be enough incentive for people to get excited about, since most crypto users are looking much more in the short term rather than long-term stake/interest.

I'm thinking there should be incentives that can be realized in the short term. EX: a trading program exclusive to masternodes runners (been done by coins before), a site for TA and charts sort of like coinigy or bitcoinwisdom, but free to masternodes runners, HAL store discounts/coupons/credit, exclusive merchandise, etc.

Furthermore, we can limit use of the rewards to block periods of time (1 week, 1 month, 1 year, etc) in which the user locks his masternode coins, and receives the reward benefits for that duration (only allowed to access trading site or TA site for the period of time, only being able to use a coupon code up to a certain date, etc).

[ShadowBits]

We may need to re think the masternode system, how many masternodes are you aiming to (using a quarter of coins for masternodes will get you a max of 200 masternodes... that would be enough?)?

In the case of getting an extra %3, users will get 60 HAL more per year? I don't think that can cover the cost of setting up an extra box for a year (not even in VM scenarios), unless value rises a lot...

Another thing... if we can modify the reward, we may think in another feature... you said masternodes would protect the network, but since you will need a lot of coins, a Deep dive of the value (or great rise), could cause users to drop their coins. So, if reward is greater, maybe there is a way to hold the status of a masternode for a fixed term, let say you set your wallet as masternode, then your coins can't be send for x blocks (to prevent a massive drop of the amount of masternodes).

Interesting idea, which I also think would be nice to implement...especially the part about "locking" up coins used for a masternode so that they are time-locked for a certain period of time.

There definitely should be an external incentive aside from extra HAL staking. A bonus stake % would simply increase the inflation rate, and as said by others, it wouldn't be enough incentive for people to get excited about, since most crypto users are looking much more in the short term rather than long-term stake/interest.

I'm thinking there should be incentives that can be realized in the short term. EX: a trading program exclusive to masternodes runners (been done by coins before), a site for TA and charts sort of like coinigy or bitcoinwisdom, but free to masternodes runners, HAL store discounts/coupons/credit, exclusive merchandise, etc.

Furthermore, we can limit use of the rewards to block periods of time (1 week, 1 month, 1 year, etc) in which the user locks his masternode coins, and receives the reward benefits for that duration (only allowed to access trading site or TA site for the period of time, only being able to use a coupon code up to a certain date, etc).

I just want to remind people that although most people are into crypto for short term profits, this should not be what defines crypto.  Otherwise no coins would ever go up in value.  What determines value (even in short term), is the belief that a coin could become the future of commerce as we know it.  Staking IS important and should never be taken out.  Banks used to provide interest when you put money in the bank.  I believe we should try to model this as best as possible.  Some of the other features you mentioned, could be interesting on their own, but not as a replacement I feel.

[jiapetz]

I just want to remind people that although most people are into crypto for short term profits, this should not be what defines crypto.  Otherwise no coins would ever go up in value.  What determines value (even in short term), is the belief that a coin could become the future of commerce as we know it.  Staking IS important and should never be taken out.  Banks used to provide interest when you put money in the bank.  I believe we should try to model this as best as possible.  Some of the other features you mentioned, could be interesting on their own, but not as a replacement I feel.

1. Banks are failing, do we really wanna follow a model of something that is failing?
2. Banks take cash deposit, so they pay out interest with cash, reason being that cash is widely accepted as a stable form of value. If cash were just another crypto or an unestablished currency, we would have the same problems with cash as we would with bitcoin and cryptos when it comes to spending-value and buying power.

I'm not saying to take out the stake aspect, but we need a different reward on top of the stake or the idea will never stick. Providing only HAL stake when HAL does not have a widely established base of users and interest would not have any major impact of how people view the Peersend masternode system. As of now HAL is still a "value-less" currency, in the sense that at any moment this whole thing can come crashing down regardless of how hard the dev works or how many innovations we put in this thing, reason being because of the low mcap, small user base, etc. This is the problem with 99% of cryptos right now, especially those that are modeling their coin after a banking or savings system by adjusting the stake %. It's like if the dollar was noticeably unused or crashing in value, and to provide incentives for using it, we printed more and more money to give out. Same scenario here. Upping the stake %, and praying that investors and users hold for the long run makes the chances of success a coin flip. Bottom line is, yes belief in a coin should be what drives it, but in reality, this is just not what happens. Until we reach a self-sustainable level of acceptance from users, we'll need this non-HAL reward/incentive system to keep us growing.

It's much more efficient and can provide HAL much more interest and growth potential by providing non-stake incentives on top of the current reward system so that we are essentially hedging HAL value against other forms of value. Meaning, we have something to fall back on in case HAL were to crash or lose interest from people. These external rewards generate constant interest from communities outside HAL, and provide added forms of value that can give HAL a fighting chance to "make it" as a currency.

If HAL were to crash or lose interest, an extra 3% bonus would not "do anything" for interest or price. If there was a tangible reward (discount, coupon, merchandise, BTC payment, etc), then this reward would actually help keep HAL from crashing because the reward value is not tied to HAL's value. It's important to have a system that hedges value depreciation by offsetting the chances of depreciation with things that do not have as much a chance of depreciating.

Simply said, you can't back the value of a coin by throwing more coin at it, or hoping that people will recognize the non-tangible benefits, because most likely scenario is that they they won't.

[ShadowBits]

I just want to remind people that although most people are into crypto for short term profits, this should not be what defines crypto.  Otherwise no coins would ever go up in value.  What determines value (even in short term), is the belief that a coin could become the future of commerce as we know it.  Staking IS important and should never be taken out.  Banks used to provide interest when you put money in the bank.  I believe we should try to model this as best as possible.  Some of the other features you mentioned, could be interesting on their own, but not as a replacement I feel.

1. Banks are failing, do we really wanna follow a model of something that is failing?
2. Banks take cash deposit, so they pay out interest with cash, reason being that cash is widely accepted as a stable form of value. If cash were just another crypto or an unestablished currency, we would have the same problems with cash as we would with bitcoin and cryptos when it comes to spending-value and buying power.

I'm not saying to take out the stake aspect, but we need a different reward on top of the stake or the idea will never stick. Providing only HAL stake when HAL does not have a widely established base of users and interest would not have any major impact of how people view the Peersend masternode system. As of now HAL is still a "value-less" currency, in the sense that at any moment this whole thing can come crashing down regardless of how hard the dev works or how many innovations we put in this thing, reason being because of the low mcap, small user base, etc. This is the problem with 99% of cryptos right now, especially those that are modeling their coin after a banking or savings system by adjusting the stake %. It's like if the dollar was noticeably unused or crashing in value, and to provide incentives for using it, we printed more and more money to give out. Same scenario here. Upping the stake %, and praying that investors and users hold for the long run makes the chances of success a coin flip. Bottom line is, yes belief in a coin should be what drives it, but in reality, this is just not what happens. Until we reach a self-sustainable level of acceptance from users, we'll need this non-HAL reward/incentive system to keep us growing.

It's much more efficient and can provide HAL much more interest and growth potential by providing non-stake incentives on top of the current reward system so that we are essentially hedging HAL value against other forms of value. Meaning, we have something to fall back on in case HAL were to crash or lose interest from people. These external rewards generate constant interest from communities outside HAL, and provide added forms of value that can give HAL a fighting chance to "make it" as a currency.

If HAL were to crash or lose interest, an extra 3% bonus would not "do anything" for interest or price. If there was a tangible reward (discount, coupon, merchandise, BTC payment, etc), then this reward would actually help keep HAL from crashing because the reward value is not tied to HAL's value. It's important to have a system that hedges value depreciation by offsetting the chances of depreciation with things that do not have as much a chance of depreciating.

Simply said, you can't back the value of a coin by throwing more coin at it, or hoping that people will recognize the non-tangible benefits, because most likely scenario is that they they won't.

I think you are onto something.  However, I think these programs should only kick in when the coin is born/infancy and later on the funds should only be called up on when the coin hits a coin devaluation snag.  Otherwise, when the coin is in a healthy condition, there is not much of a use for such programs and reward programs have to be managed usually.  When people get involved in managing funds, corruption can occur.  I like your idea though because it brings more people into the sphere of influence of this coin.  It makes a market ecosystem sprout.

[jiapetz]

Well, the dev would manage all funding/incentive bonuses or we would have a simple system where we time lock the "coupon code" or reward over the period of the time that the masternode is locked in for.

Regardless, I think it's important that we start to hedge HAL's value by bringing in these external, non-stake rewards and incentive programs, at least for those of us running masternodes or planning on setting up a masternode.

On a side note, HAL is just a couple BTC off of being #1 volume on Bittrex Looking forward to the updates from dev and the Mintpal addition

[johnnyrocket]

Being included in the group of coins to be added to Mintpal v2 is great, and the code review of Peersend by Dan is encouraging. Innovative technical features are great, and as a developer I love to see them. But, the thing I like most with HAL right now is the progress the coin is making into real business development by launching a nootropics store.

[SumthngsWrong]

Being included in the group of coins to be added to Mintpal v2 is great, and the code review of Peersend by Dan is encouraging. Innovative technical features are great, and as a developer I love to see them. But, the thing I like most with HAL right now is the progress the coin is making into real business development by launching a nootropics store.

+1, looking forward to the store, too!

[zwiggel]

I hope hal wont fall big during the weeekdn again

[CoinBateman]

Very much looking forward to the Nootropics store as well as the website.

The masternode 3% extra reward doesn't sound like its worth it for people with holdings of much larger amount.

Spreading your coins across many doesn't seem like it scales very well considering how little you get.

[Quantumbud]

I hope hal wont fall big during the weeekdn again

I think it's found a pretty stable floor so far

[philipvdlinde]

Does anyone see HAL reaching numbers like BTCD? I think it's definitely possible in the longterm.