[ANN][SEED] SeedCoin | New Road Map

[lifeforcepools]

From what I recall, more than half of the ICO total was sold in the first couple hours, so .1 - .110. For all the care put into nice presentation and an interesting distribution, I can't help but wonder why they thought such a fast increase was a good idea... especially considering how little pre-promotion they did (was there even any?). At the same point I mentioned, in the first few hours, the Twitter had 20 something followers...


Mining is definitely nice. The only real downside miners might be forgetting in the 1440 block mature time. That's 1440 blocks to confirm on the pool, then 1440 more once they hit your wallet before they start staking. You have 1440 blocks of uninterrupted PoW, and then 8660 blocks of PoW/PoS and some blocks will be "stolen". Combine all these factors and a good chunk of the PoW coins won't be able to hit the full force of compound interest, they'll be staking later and won't compound as much. How many days of compounding will the market go for before the balance tips into a selloff of supply? It's a curious case! I think we'll probably still come in somewhere 5-6 mil or maybe even less, as some people will trade it right away, immediately resetting coinage. Others that plan to stake will probably not wait the entire 7 days, at least not with all of the supply - so we probably won't hit the biggest compounding stages very hard. Should be interesting, hugs to anyone who bought after the earliest part of the IPO - you better stake your ass off to cut these miners out! Heh  

IMO get on an exchange ASAP to make it even more interesting - the 1440 maturity is a key factor here. The lure of the exchange being in play would bring much more entertainment into this process.


Is there a Block Explorer coming?

There isn't a 1440 blocks mature time. It's 120 blocks to mature. 1440 blocks is how many blocks there will be before it is possible to stake. In point of fact it's actually slightly more blocks than that before anyone will be able to stake, as nobody has coins unmoved from block 1.

Skimming through the thread now to answer questions. Big thanks to OCMiner for answering some of the more technical questions while I was away, as well as everyone else that helped support the thread with useful thought and information.

Edit: Yeah we're working on getting an explorer going asap. We're well aware that, given the design of the coin, both an explorer and exchanges are critical to the success of the coin.

and blocks 2 - 100 were empty blocks anyway

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[dmgta]

Jesus hashlink.eu is down and I have some seed in there.

[cryptzo]

Correct me if I am wrong, but my calculations show that if 1 Seed is staked for the entire growth period it will be 9315 at the end of the period

Day 1 start   1,00
Day 1 end   3,69
Day 2 end   13,62
Day 3 end   50,24
Day 4 end   185,40
Day 5 end   684,12
Day 6  end   2 524,40
Day 7 end   9 315,04


How often + how long do I have to have wallet open in order to stake? Is 5min a couple of times a day enough?

Your days are perfect. Sumgye posted a graph yesterday showing the growth over 7 days. https://docs.google.com/spreadsheets/d/1b1_BKfRxuOeAzvhzmldG1P0d0bxZAEQsXXmcBDHedTY/edit#gid=43161177

As for how long you need to leave your wallet open: ideally all day, at least until all your coins have staked. But there's an element of luck here. Not everyone is going to be able to stake all their coins each day. There are only 1440 blocks that can be staked in a day, and it's unlikely (and undesirable for the network) for all your coins to stake at the same time. This is part of the reason why it's practically impossible for the maximum possible number of coins to be reached. An unlucky person might only get half of the possible number of coins over the course of the week, or even less. With everyone staking all at once, the difficulty of staking is going to be very high. What everyone does have is a fair chance of staking their coins. Everyone is going to suffer the same difficulties with staking, it's just the nature of the beast.

So if you only have your wallet open for 5 minutes a couple of times a day, you might get lucky, but more likely than not you're going to miss a staking period. In order to have the best chance of success, keep your wallet open at least until all your coins have staked and your wallet reports that you don't have any mature coins.

[bitkokos]

which exchanges will be used for buying seed coins and when ?

[cryptzo]

1) are miners the luckiest people in the world right now with this coin

or

2) did I (we) pay way too much for this coin during the ICO

I ask because I got in on the ICO and I am also a mining this coin right now.

In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.

and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.

I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 850 right now....

this is not looking good...

It's complicated. It really depends on when you got in on the ICO at this point, and how many you got. Everything aspect of SEED is designed to favor those that got in early. We realized early that the ICO was not going to be as successful as we anticipated we tried halting the price increases, but early investors were less than pleased. We had a quick discussion and it was decided to continue on as planned, basically shooting ourselves in the foot for money. The ICO raised less than 10 BTC. I guarantee the mining rig rental community as a whole is getting paid more than that right now to mine SEED.

That's basically the stance we've had to take since. We laid out everything that was going to happen for the first three weeks of the life of SEED, and people made decisions based on those plans. The community ultimately decides everything with their actions. Actions speak louder than words after all. And as a whole, the community chose to mine rather than buy. If the community had chosen to buy, buyers would have a significant advantage over miners - they'd have more coins earlier, and ICO purchasers would have the opportunity to crush the mining period.

The mining period was always intended to be profitable for miners, the weakness of mining was going to be be the seriously limited number of coins that anyone could mine. ICO coins were unlimited. Someone could have bought 100 coins for 10 BTC. Good luck mining that many for that. And if someone had bought a large number of coins early, they would have a significant advantage over miners, as they would have their coins right from the start. Barely 100 coins have been mined so far in total, full stop. Mining was supposed to effectively be a firesale on a very limited supply, but now it's practically the only way to get coins. And that wasn't decided by us.

If, say, 5000 coins had been sold in ICO, miners would still get a deal, sure, but they'd be spending a week fighting over the bone. It's possible that only 500 coins could be mined in such a scenario. That's not the case, and since we couldn't halt the increasing ICO price without developing understandably negative sentiment, it was decided to leave things as is.

Same goes for the 1000x/10000x issue. I could have fixed that by changing 1 number in code. But it would have meant setting interest during growth to 169% instead of 269%, and everyone has been well informed through the entire ICO that daily interest would be 269%, so we decided to leave it as is rather than confuse the situation.



Anyway, the first few weeks is and was always meant to be a bit of a market adventure/rollercoaster. Volatility generates interest, and the first three weeks of SEED reek of volatility. Now that the first week (ICO) is done, it's on to the mining period, and this week will be little different. There's a very, very limited supply of SEED to be had now, and the sooner you can get them, the better. Next week is going to be another adventure of ups and downs. I have no idea what's going to happen. Seedcoin is an experiment, and I can't predict the future.

I can tell you this though: the next couple weeks are going to be volatile. There will be people that come away big, and people that lose a lot. Be smart, take time to understand the game as it's laid out, and find your strategy. I can tell you that the safest strategy is to get all the coins you can early and hold them long term. But day traders looking for a quick flip - once SEED makes it onto an exchange, expect to see one hell of a game of cat and mouse play out...

There's a lot of risk here, and since things didn't go to plan, and I couldn't stop the price hikes during the ICO when things were clearly not working out as I had hoped, unfortunately people that got into the ICO later didn't get as great a deal as they could have by mining. With that said, the whole thing about being able to buy seed for less than .1 BTC when if we can get it on an exchange right now is complete and utter baloney. I'll buy them at that price, at least for the next few days. It's insanely low.

[cryptzo]

which exchanges will be used for buying seed coins and when ?

We're hoping to get on bittrex ASAP. Everyone is welcome to help though, send them messages and tweet them on twitter. Help us get their attention. I know a few people that don't want to deal with mining that just want to buy right now... though the question is, what's anyone willing to sell at?

[cryptzo]

Wait wut? People played .8 BTC per SEED?

Kiss that money good bye. This hits an exchange and will be amazing if it hits .1 BTC. Look at SYNC which has real assets and that's struggling to hold .7 BTC

I think there is going to be some angry people and be curious how markets handle the massive influx of coins with the 269% stake

Really, less than .1 BTC per seed? What, pray tell, would you sell yours for right now?

[BeerPimp]

1) are miners the luckiest people in the world right now with this coin

or

2) did I (we) pay way too much for this coin during the ICO

I ask because I got in on the ICO and I am also a mining this coin right now.

In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.

and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.

I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 850 right now....

this is not looking good...

It's complicated. It really depends on when you got in on the ICO at this point, and how many you got. Everything aspect of SEED is designed to favor those that got in early. We realized early that the ICO was not going to be as successful as we anticipated we tried halting the price increases, but early investors were less than pleased. We had a quick discussion and it was decided to continue on as planned, basically shooting ourselves in the foot for money. The ICO raised less than 10 BTC. I guarantee the mining rig rental community as a whole is getting paid more than that right now to mine SEED.

That's basically the stance we've had to take since. We laid out everything that was going to happen for the first three weeks of the life of SEED, and people made decisions based on those plans. The community ultimately decides everything with their actions. Actions speak louder than words after all. And as a whole, the community chose to mine rather than buy. If the community had chosen to buy, buyers would have a significant advantage over miners - they'd have more coins earlier, and ICO purchasers would have the opportunity to crush the mining period.

The mining period was always intended to be profitable for miners, the weakness of mining was going to be be the seriously limited number of coins that anyone could mine. ICO coins were unlimited. Someone could have bought 100 coins for 10 BTC. Good luck mining that many for that. And if someone had bought a large number of coins early, they would have a significant advantage over miners, as they would have their coins right from the start. Barely 100 coins have been mined so far in total, full stop. Mining was supposed to effectively be a firesale on a very limited supply, but now it's practically the only way to get coins. And that wasn't decided by us.

If, say, 5000 coins had been sold in ICO, miners would still get a deal, sure, but they'd be spending a week fighting over the bone. It's possible that only 500 coins could be mined in such a scenario. That's not the case, and since we couldn't halt the increasing ICO price without developing understandably negative sentiment, it was decided to leave things as is.

Same goes for the 1000x/10000x issue. I could have fixed that by changing 1 number in code. But it would have meant setting interest during growth to 169% instead of 269%, and everyone has been well informed through the entire ICO that daily interest would be 269%, so we decided to leave it as is rather than confuse the situation.



Anyway, the first few weeks is and was always meant to be a bit of a market adventure/rollercoaster. Volatility generates interest, and the first three weeks of SEED reek of volatility. Now that the first week (ICO) is done, it's on to the mining period, and this week will be little different. There's a very, very limited supply of SEED to be had now, and the sooner you can get them, the better. Next week is going to be another adventure of ups and downs. I have no idea what's going to happen. Seedcoin is an experiment, and I can't predict the future.

I can tell you this though: the next couple weeks are going to be volatile. There will be people that come away big, and people that lose a lot. Be smart, take time to understand the game as it's laid out, and find your strategy. I can tell you that the safest strategy is to get all the coins you can early and hold them long term. But day traders looking for a quick flip - once SEED makes it onto an exchange, expect to see one hell of a game of cat and mouse play out...

There's a lot of risk here, and since things didn't go to plan, and I couldn't stop the price hikes during the ICO when things were clearly not working out as I had hoped, unfortunately people that got into the ICO later didn't get as great a deal as they could have by mining. With that said, the whole thing about being able to buy seed for less than .1 BTC when if we can get it on an exchange right now is complete and utter baloney. I'll buy them at that price, at least for the next few days. It's insanely low.

From the beginning I liked the way this coin was set up.  Having the ICO to reward the early buyers was one of the big positives in this coin.  It is hard to figure out how much people are willing to invest on a new coin.  So that made it tough for those calculations in setting up the coin.  Really the only way I think you could have done the ICO different was to say coins 1-50 were worth 0.1 then incrementally raise the prices after that.  But I think when you set up a new coin you have to follow what is laid out and not start changing a bunch of things because that will cause people to loose confidence.

[jorneyflair]

1) are miners the luckiest people in the world right now with this coin

or

2) did I (we) pay way too much for this coin during the ICO

I ask because I got in on the ICO and I am also a mining this coin right now.

In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.

and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.

I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 850 right now....

this is not looking good...

It's complicated. It really depends on when you got in on the ICO at this point, and how many you got. Everything aspect of SEED is designed to favor those that got in early. We realized early that the ICO was not going to be as successful as we anticipated we tried halting the price increases, but early investors were less than pleased. We had a quick discussion and it was decided to continue on as planned, basically shooting ourselves in the foot for money. The ICO raised less than 10 BTC. I guarantee the mining rig rental community as a whole is getting paid more than that right now to mine SEED.

That's basically the stance we've had to take since. We laid out everything that was going to happen for the first three weeks of the life of SEED, and people made decisions based on those plans. The community ultimately decides everything with their actions. Actions speak louder than words after all. And as a whole, the community chose to mine rather than buy. If the community had chosen to buy, buyers would have a significant advantage over miners - they'd have more coins earlier, and ICO purchasers would have the opportunity to crush the mining period.

The mining period was always intended to be profitable for miners, the weakness of mining was going to be be the seriously limited number of coins that anyone could mine. ICO coins were unlimited. Someone could have bought 100 coins for 10 BTC. Good luck mining that many for that. And if someone had bought a large number of coins early, they would have a significant advantage over miners, as they would have their coins right from the start. Barely 100 coins have been mined so far in total, full stop. Mining was supposed to effectively be a firesale on a very limited supply, but now it's practically the only way to get coins. And that wasn't decided by us.

If, say, 5000 coins had been sold in ICO, miners would still get a deal, sure, but they'd be spending a week fighting over the bone. It's possible that only 500 coins could be mined in such a scenario. That's not the case, and since we couldn't halt the increasing ICO price without developing understandably negative sentiment, it was decided to leave things as is.

Same goes for the 1000x/10000x issue. I could have fixed that by changing 1 number in code. But it would have meant setting interest during growth to 169% instead of 269%, and everyone has been well informed through the entire ICO that daily interest would be 269%, so we decided to leave it as is rather than confuse the situation.



Anyway, the first few weeks is and was always meant to be a bit of a market adventure/rollercoaster. Volatility generates interest, and the first three weeks of SEED reek of volatility. Now that the first week (ICO) is done, it's on to the mining period, and this week will be little different. There's a very, very limited supply of SEED to be had now, and the sooner you can get them, the better. Next week is going to be another adventure of ups and downs. I have no idea what's going to happen. Seedcoin is an experiment, and I can't predict the future.

I can tell you this though: the next couple weeks are going to be volatile. There will be people that come away big, and people that lose a lot. Be smart, take time to understand the game as it's laid out, and find your strategy. I can tell you that the safest strategy is to get all the coins you can early and hold them long term. But day traders looking for a quick flip - once SEED makes it onto an exchange, expect to see one hell of a game of cat and mouse play out...

There's a lot of risk here, and since things didn't go to plan, and I couldn't stop the price hikes during the ICO when things were clearly not working out as I had hoped, unfortunately people that got into the ICO later didn't get as great a deal as they could have by mining. With that said, the whole thing about being able to buy seed for less than .1 BTC when if we can get it on an exchange right now is complete and utter baloney. I'll buy them at that price, at least for the next few days. It's insanely low.

From the beginning I liked the way this coin was set up.  Having the ICO to reward the early buyers was one of the big positives in this coin.  It is hard to figure out how much people are willing to invest on a new coin.  So that made it tough for those calculations in setting up the coin.  Really the only way I think you could have done the ICO different was to say coins 1-50 were worth 0.1 then incrementally raise the prices after that.  But I think when you set up a new coin you have to follow what is laid out and not start changing a bunch of things because that will cause people to loose confidence.

 ppl wont sell it low b4 the day 7 but there is an important question:what on earth do we have after that or there will be a massive dump at the day 8.

[Anoxxxy]

just too see if I have understood it correct.
Can I buy some seeds on an exchange move them to my wallet and be able to stake?

[cryptzo]

 ppl wont sell it low b4 the day 7 but there is an important question:what on earth do we have after that or there will be a massive dump at the day 8.

Expect the massive dump. It's just going to happen. The goal is to get as many coins as possible into the hands of long term holders of the coin. With the small number of coins from the ICO I've had to cut back plans a lot, and we will need community support in order to do anything major. I'm committed to the development though, and my goals are to make seed lightweight and easy to use. I want to lay down infrastructure of web applications and games using SEED and I'm going to look for ways to raise BTC for a coin support fund. We didn't reach our target for the market floor I was hoping for, but I still love the idea of having a base market floor that cannot be breached, so I will be looking for opportunities to raise the funds to build and grow that floor from scratch.

At its heart, everything about SEED is about growth, and once we enter the stable maturity period the focus will be on growing our community and making the coin as easy to use as possible for everyone. If we can build BTC to back every coin with, all the better, but given the decline of the value of BTC I'll be looking for other commodities to lock in the minimum value as well. It must be understood however, that to bring hard value to SEED means that value must be earned for the purpose of supporting SEED as a whole, and that's not something I can do alone. My ultimate goal for SEED is to make it a real world financial instrument that's backed with hard value.

[cryptzo]

just too see if I have understood it correct.
Can I buy some seeds on an exchange move them to my wallet and be able to stake?

Yes, but you'll have to wait for 24 hours after the coins reach your wallet for them to stake.

[Nightz]

on bittrex

https://bittrex.com/Market/Index?MarketName=BTC-SEED

[meccoin4me]

 I know a few people that don't want to deal with mining that just want to buy right now... though the question is, what's anyone willing to sell at?

i like to gamble

[chipmadness]

10/05/2014 02:59:43 PM   
BUY
0.20000000   0.40037301   0.08007460

Who did this.....

Lets not be this dumb guys....

Sell at this

10/05/2014 02:38:41 PM   
BUY
10.00000000   0.00839148   0.08391480

[Razerglass]

Or this

10/05/2014 02:29:08 PM   
BUY
0.15000000   1.00000000   0.15000000

1 seed for .15

[klopper]

Or this

10/05/2014 02:29:08 PM   
BUY
0.15000000   1.00000000   0.15000000

1 seed for .15

just coins changing hands... one hand was happy to sell - the other hand was happy to buy!

[BitBD]

ICO price was 0.1, it is now very undervalued but coin is new-is fact.

[DeCrypterManiac]

ICO price was 0.1, it is now very undervalued but coin is new-is fact.

this was initial price, last price was above 0.8 per seed

[Razerglass]

ICO price was 0.1, it is now very undervalued but coin is new-is fact.

this was initial price, last price was above 0.8 per seed

and now on trex with 0.8  you can buy 4x as many coins.
 i cant imagine ico holders are happy