[ANN][BITS][Bitstar] Now on Cryptopia, Nova and Yobit new wallet fork in testing

[QuadraQ]

If switching to PoW I would not be sure on SHA, would be worried that only the rich commercial miners would be able to mine, maybe one of the alternative algorithms would be better.

Agreed, but going back to PoW seems unlikely at this point. Even Etherum has plans to go to PoS.

[1714618070]

1714618070

[1714618070]

1714618070

[Bitstar_coin]

We do have plans to change to POSv3, we think that will make the network stronger as it will mean if you want to stake you need to keep the wallet open all of the time

[CULTFRANCE16]

Implement MasterNodes they're in your plans?

[Bitstar_coin]

Implement MasterNodes they're in your plans?

Not currently we have a lot of things to look at after we get our new wallet live

[Bitstar_coin]

The dev team would like to give the community the opportunity to offer their opinion about changes to the specifications of the coin for the new wallet. Due to the time it is taking in getting the new wallet to work alongside the existing one on the old staking parameters, we think it would make more sense to simply fork to the new codebase in one go, replacing the old wallets.

This will still allow the live chain to continue, meaning no coin swap would be needed and all existing addresses and coins would remain as they currently are.
With this in mind, we’d like to ask the community to give their final opinion on the proposed new specifications for block time and reward before we commit. The block time will be set at 30 seconds with a block reward of 1 BITS, which will add a little over a million coins to the network each year. But, unlike the current staking method, users will need to keep their wallet open and continuously staking for that reward, thereby ensuring a stronger, more resilient network.
Please give your thoughts on the matter. Reasonable objections or suggestions will be seriously considered.

[Mark81]

Hi! I made little calculations of how this change will affect years to come on Bitstar coin count and annual interest rate.

Here is my calculations_

Year   Bitstar Coin count   Annual interest rate
1   17 500 000   5,99%
2   18 548 320   5,65%
3   19 596 640   5,35%
4   20 644 960   5,08%
5   21 693 280   4,83%
6   22 741 600   4,61%
7   23 789 920   4,41%
8   24 838 240   4,22%
9   25 886 560   4,05%
10   26 934 880   3,89%
11   27 983 200   3,75%
12   29 031 520   3,61%
13   30 079 840   3,49%

[CULTFRANCE16]

Hi! I made little calculations of how this change will affect years to come on Bitstar coin count and annual interest rate.

Here is my calculations_

Year   Bitstar Coin count   Annual interest rate
1   17 500 000   5,99%
2   18 548 320   5,65%
3   19 596 640   5,35%
4   20 644 960   5,08%
5   21 693 280   4,83%
6   22 741 600   4,61%
7   23 789 920   4,41%
8   24 838 240   4,22%
9   25 886 560   4,05%
10   26 934 880   3,89%
11   27 983 200   3,75%
12   29 031 520   3,61%
13   30 079 840   3,49%

Looks good to me.

So... the new wallet will be released soon? I look forward to seeing the roadmap, And a possible return to "big exchanges" (Bitrrex).

[deamon]

yeah, great to hear something new about this wonderfull coin! 😃

[Bitstar_coin]

So far it looks like nobody is unhappy with the new direction so we'll start work on the fork wallet this week, will update you all as soon as we can.

[CryptoJohn]

So far it looks like nobody is unhappy with the new direction so we'll start work on the fork wallet this week, will update you all as soon as we can.

Nice to see business as usual for team BitStar.

Looking forward to the new wallet as well :-)

[freebtc4e]

Bitstar Coin [BITS] is listed: https://yobit.net/en/trade/BITS/BTC …
Bitstar Coin Dice: https://yobit.net/en/dice/BITS

Code:

[url=https://yobit.net/en/trade/BITS/BTC][img]https://yobit.net/imginfo/BITS[/img][/url]

Happy trading gues 

[Bitstar_coin]

Bitstar Coin [BITS] is listed: https://yobit.net/en/trade/BITS/BTC …
Bitstar Coin Dice: https://yobit.net/en/dice/BITS

Code:

[url=https://yobit.net/en/trade/BITS/BTC][img]https://yobit.net/imginfo/BITS[/img][/url]

Happy trading gues 

Thanks for adding us, was going to paste once the wallet was synced.

[Mark81]

Bitstar last 24hour volume on Yobit exchanges has been 0,24btc and is outperforming cryptopia volume. I have informed coinmarketcap.com to add Yobit exchange to list of exchanges for Bitstar and also sended message to blockfolio to update exchanges for bitstar on their app. Currently it seems that market is taking well this new staking system which will produce 2880bits daily once new wallet is released and hardfork completed. As everyone can see with current prices (bits at ~300sat and btc 2460usd)  new bitstar coins will be mined to existing worth of ~20$ in a day which is very low number for this coin currently.  Theres been notable changes how sell side is currently pricing in their coins. Lowest sell on nova exchanges is currently as I write this at over 8000sat and on yobit its 340sat with very thin order orderbook where sell prices go easily over 500sat. Cryptopia is holding most bistar coins of exchanges and has second biggest volume for last 24hour and prices there on sell side are with good range of offers with best buy opportunity currently. Hopefully prices start to move to way we all want to seem them --> UP!

[CULTFRANCE16]

Hey folks; Any progress?

Bitstar last 24hour volume on Yobit exchanges has been 0,24btc and is outperforming cryptopia volume. I have informed coinmarketcap.com to add Yobit exchange to list of exchanges for Bitstar and also sended message to blockfolio to update exchanges for bitstar on their app. Currently it seems that market is taking well this new staking system which will produce 2880bits daily once new wallet is released and hardfork completed. As everyone can see with current prices (bits at ~300sat and btc 2460usd)  new bitstar coins will be mined to existing worth of ~20$ in a day which is very low number for this coin currently.  Theres been notable changes how sell side is currently pricing in their coins. Lowest sell on nova exchanges is currently as I write this at over 8000sat and on yobit its 340sat with very thin order orderbook where sell prices go easily over 500sat. Cryptopia is holding most bistar coins of exchanges and has second biggest volume for last 24hour and prices there on sell side are with good range of offers with best buy opportunity currently. Hopefully prices start to move to way we all want to seem them --> UP!

I agree, the price is too low... But to raise a decent move, we need a decent exchange. .-.

[Bitstar_coin]

I think we're moving in the right direction, testing is starting on the fork wallet this week, hope to have more news soon.  Once its live we will then totally refresh the original post here and set the new website live.

[Mark81]

I have received message from Blockfolio team and they have updated their app to have Yobit exchange rates also for Bitstar coin.

Goos trading for everyone!

[QuadraQ]

BitStar can also be traded in Nxt Asset Exchange, UNITY is doing well with Nxt Asset Exchange.

Yes that's a good point, but I believe the new wallet is required first to restore SuperNET compatibility (it was compatible but changes made to SuperNET broke that compatibility, so it will take the new wallet to restore it).

[Babad00k]

I think we're moving in the right direction, testing is starting on the fork wallet this week, hope to have more news soon.  Once its live we will then totally refresh the original post here and set the new website live.

Love it! And love the communication

[CULTFRANCE16]

Attach a Twitter account to the bits page on CoinMarketCap. Marketing is very important.

[QuadraQ]

Attach a Twitter account to the bits page on CoinMarketCap. Marketing is very important.

Good catch. I second this.