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cryptoholic11
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September 03, 2014, 04:09:11 AM |
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Dev, have you decided on what you are going to do about POW? Cutting it short or going to let it continue? Only 2-3 days left. That's not much time and the coins are being mined faster and faster.
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yellowduck2
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September 03, 2014, 05:09:47 AM |
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Dev, have you decided on what you are going to do about POW? Cutting it short or going to let it continue? Only 2-3 days left. That's not much time and the coins are being mined faster and faster.
There is actually nothing wrong. Not changing anything is better. There is a reason why developer decide the specs of coin before launch. |
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pigheadbig
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September 03, 2014, 06:30:06 AM |
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The price on c-cex is pumping with larger volume.
I like the new reward based on the blocks,it will bring more people minging later. good luck. |
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yaks
Newbie
 Offline
Activity: 38
Merit: 0
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September 03, 2014, 06:31:20 AM |
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Dev any update regarding POD? Are people twitting to bittrex about flex?
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techlover (OP)
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September 03, 2014, 07:21:31 AM |
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Dev any update regarding POD? Are people twitting to bittrex about flex?
With regards to POD, we got in touch with Chris and are currently in the process of verifying our information to Chris. I think it may finish in a few days. With regards to whether to change the rewards structure or not, we are discussing about it, and now it is mid night. We will announce the decision a couple of hours later. |
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bitcoinwonders010
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September 03, 2014, 07:21:54 AM |
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whenever a coin is gaining interest it is best to end pow as stale price can make investors lose interest. xc knew they had to do it as it would have just brought them back down. when we rise we wanna hold it there. unless the pow is gonna take years it would not have matter but a short pow will have a effect
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pigheadbig
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September 03, 2014, 07:27:31 AM |
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Dev any update regarding POD? Are people twitting to bittrex about flex?
With regards to POD, we got in touch with Chris and are currently in the process of verifying our information to Chris. I think it may finish in a few days. With regards to whether to change the rewards structure or not, we are discussing about it, and now it is mid night. We will announce the decision a couple of hours later. when got the POD, we believe the market will go up with the confidence. |
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yellowduck2
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September 03, 2014, 07:29:01 AM |
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anyone checking if developer is really doing PoD ? I have seen some coin say they are doing PoD but after a couple of days they dump the premine and go missing and PoD never get done
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chaobile
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September 03, 2014, 07:30:29 AM |
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There is no need to change the reward structure POW.
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techlover (OP)
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September 03, 2014, 07:34:09 AM |
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anyone checking if developer is really doing PoD ? I have seen some coin say they are doing PoD but after a couple of days they dump the premine and go missing and PoD never get done
If you want to check the status, maybe you could contact Chris and ask him to confirm the status. |
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cryptoholic11
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September 03, 2014, 07:43:13 AM |
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Dev any update regarding POD? Are people twitting to bittrex about flex?
With regards to POD, we got in touch with Chris and are currently in the process of verifying our information to Chris. I think it may finish in a few days. With regards to whether to change the rewards structure or not, we are discussing about it, and now it is mid night. We will announce the decision a couple of hours later. Who is Chris? With regards to ending POW early, imho it doesnt matter long term. Short term it will add more value and hype if you end early since the coin will be more rare. Long term, prices will always correct in accordance with development and quality of features/innovation. So long term, its all about the development. Also in regards to a road map...i know you have already said that you guys wont be giving too much information away because a lot of other coins just steal the ideas. Thats definitely understandable, but can you guys at least give some kind general vague outline (that doesnt give away too much), so investors will at least know what theyre investing in? Most coins now adays have some kind of road maps, i think its essential. Just dont include too much info, and definitely no ETAs, as ETAs will create bubbles. Just my thoughts for what theyre worth. |
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hellracer2011
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September 03, 2014, 07:57:29 AM |
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Dev any update regarding POD? Are people twitting to bittrex about flex?
With regards to POD, we got in touch with Chris and are currently in the process of verifying our information to Chris. I think it may finish in a few days. With regards to whether to change the rewards structure or not, we are discussing about it, and now it is mid night. We will announce the decision a couple of hours later. Who is Chris? With regards to ending POW early, imho it doesnt matter long term. Short term it will add more value and hype if you end early since the coin will be more rare. Long term, prices will always correct in accordance with development and quality of features/innovation. So long term, its all about the development. Also in regards to a road map...i know you have already said that you guys wont be giving too much information away because a lot of other coins just steal the ideas. Thats definitely understandable, but can you guys at least give some kind general vague outline (that doesnt give away too much), so investors will at least know what theyre investing in? Most coins now adays have some kind of road maps, i think its essential. Just dont include too much info, and definitely no ETAs, as ETAs will create bubbles. Just my thoughts for what theyre worth. Chris Taylor is the guy doing PoD. I agree on your both points. Dev! Please at least share the vision of yours.In which direction you want your coin to be headed towards? Your mid to long term goals for this coin? |
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techlover (OP)
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September 03, 2014, 08:25:38 AM |
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Dear Forum Members,
After reading through the past few pages and some deliberate thoughts and discussions, we have come to a decision
We have reviewed the opinions of different forum members, now we have three options:
1. Keep the PoW as it is.
2. End PoW at 12,000 and start PoS.
3. Start PoS at an earlier block, say, 12,000 in order for smooth transition, while PoW still stop at 15,000 blocks.
We thought about the reasoning:
For option 2, as some forum members mention, although changing reward structure is good in the short term, yet for long term development, it may not be good for our coin. We fully understand that the forum members who give this suggestion for us are in favor of FLEX, we really appreciate your suggestion, and we are sorry that we cannot take this suggestion.
For option 3, it is a trade-off between option 1 and 2, and we think it is a very good suggestion. Although it seems good at first glance (actually initially we are in favor of this option during our discussion, and we have actually finished the new wallet), after thorough discussion, we decided not to take this option because it may also be not good for the long term development of the coin (we changed the reward structure that we determined at launch, please see the paragraph below).
Based on the aforementioned reasons, we have chosen option 1, because the original rewards structure is similar with the agreement in business that we (developers), miners, and investors agree on, and they mine or invest coins based on this agreement (especially for the current reward structure, with big blocks at the end of PoW). If we change it, it is similar like breaking the agreement (We have seen quite a few forum members are against the change). As a result, we have decided not to change the reward structure.
p.s. we have done calculation, if we choose option 3, there will be 12000*12001/2+(12000+15000)/2*1500=92.3 Million coins (assuming the number of PoW blocks equal with PoS blocks)
If we choose option 1, there will be in total of 112.5 million coins, so there will be an increase of about 20 Million coins.
To the forum members who are in favor of option 2 or 3, we are sorry about this decision because we want to consider the long term business, please put you in our shoes and I hope you can understand our decision.
Best,
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yellowduck2
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September 03, 2014, 08:28:23 AM |
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Dear Forum Members,
After reading through the past few pages and some deliberate thoughts and discussions, we have come to a decision
We have reviewed the opinions of different forum members, now we have three options:
1. Keep the PoW as it is.
2. End PoW at 12,000 and start PoS.
3. Start PoS at an earlier block, say, 12,000 in order for smooth transition, while PoW still stop at 15,000 blocks.
We thought about the reasoning:
For option 2, as some forum members mention, although changing reward structure is good in the short term, yet for long term development, it may not be good for our coin. We fully understand that the forum members who give this suggestion for us are in favor of FLEX, we really appreciate your suggestion, and we are sorry that we cannot take this suggestion.
For option 3, it is a trade-off between option 1 and 2, and we think it is a very good suggestion. Although it seems good at first glance (actually initially we are in favor of this option during our discussion, and we have actually finished the new wallet), after thorough discussion, we decided not to take this option because it may also be not good for the long term development of the coin (we changed the reward structure that we determined at launch, please see the paragraph below).
Based on the aforementioned reasons, we have chosen option 1, because the original rewards structure is similar with the agreement in business that we (developers), miners, and investors agree on, and they mine or invest coins based on this agreement (especially for the current reward structure, with big blocks at the end of PoW). If we change it, it is similar like breaking the agreement (We have seen quite a few forum members are against the change). As a result, we have decided not to change the reward structure.
p.s. we have done calculation, if we choose option 3, there will be 12000*12001/2+(12000+15000)/2*1500=92.3 Million coins (assuming the number of PoW blocks equal with PoS blocks)
If we choose option 1, there will be in total of 112.5 million coins, so there will be an increase of about 20 Million coins.
To the forum members who are in favor of option 2 or 3, we are sorry about this decision because we want to consider the long term business, please put you in our shoes and I hope you can understand our decision.
Best,
Good. Changing coin specs after launch is usually not a good idea unless there is bug |
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chaobile
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September 03, 2014, 08:31:20 AM |
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1. Keep the PoW as it is.
Don't need any change
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cryptoholic11
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September 03, 2014, 08:33:02 AM |
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Respectful decision dev. Do you mind answering the questions in this post please? ...
Also in regards to a road map...i know you have already said that you guys wont be giving too much information away because a lot of other coins just steal the ideas. Thats definitely understandable, but can you guys at least give some kind general vague outline (that doesnt give away too much), so investors will at least know what theyre investing in? Most coins now adays have some kind of road maps, i think its essential. Just dont include too much info, and definitely no ETAs, as ETAs will create bubbles. Just my thoughts for what theyre worth.
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techlover (OP)
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September 03, 2014, 08:33:10 AM
Last edit: September 03, 2014, 08:44:46 AM by techlover |
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Dear Forum Members,
After reading through the past few pages and some deliberate thoughts and discussions, we have come to a decision
We have reviewed the opinions of different forum members, now we have three options:
1. Keep the PoW as it is.
2. End PoW at 12,000 and start PoS.
3. Start PoS at an earlier block, say, 12,000 in order for smooth transition, while PoW still stop at 15,000 blocks.
We thought about the reasoning:
For option 2, as some forum members mention, although changing reward structure is good in the short term, yet for long term development, it may not be good for our coin. We fully understand that the forum members who give this suggestion for us are in favor of FLEX, we really appreciate your suggestion, and we are sorry that we cannot take this suggestion.
For option 3, it is a trade-off between option 1 and 2, and we think it is a very good suggestion. Although it seems good at first glance (actually initially we are in favor of this option during our discussion, and we have actually finished the new wallet), after thorough discussion, we decided not to take this option because it may also be not good for the long term development of the coin (we changed the reward structure that we determined at launch, please see the paragraph below).
Based on the aforementioned reasons, we have chosen option 1, because the original rewards structure is similar with the agreement in business that we (developers), miners, and investors agree on, and they mine or invest coins based on this agreement (especially for the current reward structure, with big blocks at the end of PoW). If we change it, it is similar like breaking the agreement (We have seen quite a few forum members are against the change). As a result, we have decided not to change the reward structure.
p.s. we have done calculation, if we choose option 3, there will be 12000*12001/2+(12000+15000)/2*1500=92.3 Million coins (assuming the number of PoW blocks equal with PoS blocks)
If we choose option 1, there will be in total of 112.5 million coins, so there will be an increase of about 20 Million coins.
To the forum members who are in favor of option 2 or 3, we are sorry about this decision because we want to consider the long term business, please put you in our shoes and I hope you can understand our decision.
Best,
Good. Changing coin specs after launch is usually not a good idea unless there is bug Thanks for your understanding, and all the post for understandings. We understand this may hurt the feeling of some FLEX supporters, and this is a difficult decision to make. |
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xrn
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September 03, 2014, 08:33:45 AM |
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Dear Forum Members,
After reading through the past few pages and some deliberate thoughts and discussions, we have come to a decision
We have reviewed the opinions of different forum members, now we have three options:
1. Keep the PoW as it is.
2. End PoW at 12,000 and start PoS.
3. Start PoS at an earlier block, say, 12,000 in order for smooth transition, while PoW still stop at 15,000 blocks.
We thought about the reasoning:
For option 2, as some forum members mention, although changing reward structure is good in the short term, yet for long term development, it may not be good for our coin. We fully understand that the forum members who give this suggestion for us are in favor of FLEX, we really appreciate your suggestion, and we are sorry that we cannot take this suggestion.
For option 3, it is a trade-off between option 1 and 2, and we think it is a very good suggestion. Although it seems good at first glance (actually initially we are in favor of this option during our discussion, and we have actually finished the new wallet), after thorough discussion, we decided not to take this option because it may also be not good for the long term development of the coin (we changed the reward structure that we determined at launch, please see the paragraph below).
Based on the aforementioned reasons, we have chosen option 1, because the original rewards structure is similar with the agreement in business that we (developers), miners, and investors agree on, and they mine or invest coins based on this agreement (especially for the current reward structure, with big blocks at the end of PoW). If we change it, it is similar like breaking the agreement (We have seen quite a few forum members are against the change). As a result, we have decided not to change the reward structure.
p.s. we have done calculation, if we choose option 3, there will be 12000*12001/2+(12000+15000)/2*1500=92.3 Million coins (assuming the number of PoW blocks equal with PoS blocks)
If we choose option 1, there will be in total of 112.5 million coins, so there will be an increase of about 20 Million coins.
To the forum members who are in favor of option 2 or 3, we are sorry about this decision because we want to consider the long term business, please put you in our shoes and I hope you can understand our decision.
Best,
Thx for clear explanation. |
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techlover (OP)
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September 03, 2014, 08:37:49 AM |
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Respectful decision dev. Do you mind answering the questions in this post please? ...
Also in regards to a road map...i know you have already said that you guys wont be giving too much information away because a lot of other coins just steal the ideas. Thats definitely understandable, but can you guys at least give some kind general vague outline (that doesnt give away too much), so investors will at least know what theyre investing in? Most coins now adays have some kind of road maps, i think its essential. Just dont include too much info, and definitely no ETAs, as ETAs will create bubbles. Just my thoughts for what theyre worth.
Thanks for your question. I have it in my mind now, but I think we (developers) may need to discuss about it with regards to what extend do we mention and then let forum members know. |
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