[ANN][QUIT] Quit Dough, Real Products (e-cigs) +Multi-Vendor Vape Site

[QuitDough]

This is awesome. finally . u guys are so cool.
This is what crypto needs a niche to fill. this makes it all worthwhile. Quit is a real for profit biz backed by crypto.  What more do u folks want.      This thing hasn't even begun. All of us are lucky they chose crypto to facilitate payments. They could have just used bank drafts and western union, but they didn't.  Kudos

Thanks for the support Mick

Matt

[QuitDough]

I put up a ANN on the idea of Quit going 100% POS at block 100,000

After [QUIT] Quit Dough has been hit hard by mining multipools we have decided to turn the hybrid system of 50% POW and 50% POS to become POS 100% at block 100,000

We are looking into a system like PPC for minting wallets.

The team has been going over all options but to be able to pin/hedge products like nicotine liquids or electronic cigarettes to the coin it needs to be more stable than the current mass dumping from multipools.

As always we are open to ideas on the best way to go and what type of staking/minting and rewards.

So what do you think?
1. Use a POS minting system like PPC does?
2. Vary the POS where its 15% till block 200,000, then 10% at block 250.000 etc


The current Quit setup is:
Algorithm: X13
Type:POW/POS
Total Coins: 30,000,000
then 1-150 (1 Block )
then 100 Coins per Block
BlockTime: 120
Difficulty Re-target: Every Block

So please any advise or ideas would be great, we like to hear the good and bad points, especially from people that have seen the  best or worst outcomes from moving away from POW..


Cheers Matt

[MickGhee]

Yea in this case I say Fuck miners ..omg did I just say that...   This is unique in where u have your intrests to protect.. either that or reduce rewards to like 1,per block or less that'll kill inflation dead.

[Ruffyyyy]

You know block 100,000 is in ~62 Days, thats over 2 month, much time and the dumping goes a long for this time. I think the blockreward must reduced dramaticly NOW, like 5 or 10 coins per block in POW. Your buisenesplan standing, every one can see this coin had a real use, so you can do this with blockreward, that can only be good for this coin! Than POW shut down on block 100,000 and go full POS with an nice interest for the people.

mfg

[QuitDough]

Yea in this case I say Fuck miners ..omg did I just say that...   This is unique in where u have your intrests to protect.. either that or reduce rewards to like 1,per block or less that'll kill inflation dead.

Hay Mick
Yes the team is going over and over the best way to go and maybe the simple way is best, block rewards decrease.
Cheers for the input

Matt

[QuitDough]

You know block 100,000 is in ~62 Days, thats over 2 month, much time and the dumping goes a long for this time. I think the blockreward must reduced dramaticly NOW, like 5 or 10 coins per block in POW. Your buisenesplan standing, every one can see this coin had a real use, so you can do this with blockreward, that can only be good for this coin! Than POW shut down on block 100,000 and go full POS with an nice interest for the people.

mfg

Hay Ruff
Do you think 5-10 would be to low? Its tricky to work out the right level, my head tells me maybe about 25 per block, but its tricky to know as its not a pure science. Also do you guys think the POS should go up at the same time from 2% to maybe 4-5%?

Cheers Matt

[Ruffyyyy]

Hey Matt. Ok lets make the math: 720 Blocks a day * 25 Quit per Block = 18000 Quit per day|  60 Days to Block 100,000, also 60 Days* 18000 Quit per day = 1,080,000 Quit to pos switch + 5,457,800 (Mineded Coins+Premine) ~ 6,500,000 Quit when pos switch come. 6,500,000 with an yearly interest 5% = 325,000 Quit per year, 30 mio max Coinsupply. This szenario takes many years to reach the max number of coins, i dont know is it good for this coin? what say others? and when we make a scaling interest when full pos come like : first year 20%, second year 15%, third 10%, than min 5% per year. But with this big interest your have after 5 years only 10,500,000 Mio Coins. I think Quit Dough must spreed out to the people, need more miners and a longer pow phase, more attention on the markt and every where, new markt like bittrex. i think a coin likes this one must reach the max Coinsupply in 5 years or so, 20 or 30 years makes no sense or?  Your shop is allready working matt? every one can buy with Quit Dough yes? Than we need an big Articel plus an big exchange, otherwise nobody cares in your coin. When this Coin gets Attention, and get an easily Entry for people who dont know what crypto is but need E-Cigs, than we go to Skyrocking! Thats only what im thinking, have a nice day and looking forward!

Cheers

[Frigga77]

I think switching to POS is a good idea and will attract more people. My idea would be to change it to full POS on block 80000 (around 30 days from now) and then have a POS that gradually declines: for example 30% in the first year, 15% second year and so on and so forth. If you want more supply you could also choose for a higher interest rate in the first year.

[Ruffyyyy]

i think POW/POS is also a good idea with lower Quit per block (25?) and a really nice pos inerest from 10%! im in top 10 wallets and stake not much... so i think that is a rally nice idea! so you can make POS/POW to block 200,000 or so, more people get in and hold for a nice 10%. And i say it again, actually Coin Supply: 5457793.52362261 (QUIT), thereof are 3 Mio Premined. Only POS makes no sense at this moment in my eyes. Block reward cut off is the important thing i guess!

[drays]

Having it mixed PoS/PoW would be the best IMHO.

PoS is indeed needed very much, so e-cigs sellers do not dump the coins they get immediately back to the QUIT market. With PoS they have some incentive to keep the coins longer. This will help to prevent dumps from sellers to some extent.

PoW (with lower rewards) could be useful to control the price, so it doesn't skyrocket. All we want the price to go to the moon , but its is not healthy for coin like this, there a stable price (slowly growing) is preferable for everyone except day-traders.

Just my 2 cents. The exact numbers on PoW and PoS rewards is the real challenge though.

[QuitDough]

Hey Matt. Ok lets make the math: 720 Blocks a day * 25 Quit per Block = 18000 Quit per day|  60 Days to Block 100,000, also 60 Days* 18000 Quit per day = 1,080,000 Quit to pos switch + 5,457,800 (Mineded Coins+Premine) ~ 6,500,000 Quit when pos switch come. 6,500,000 with an yearly interest 5% = 325,000 Quit per year, 30 mio max Coinsupply. This szenario takes many years to reach the max number of coins, i dont know is it good for this coin? what say others? and when we make a scaling interest when full pos come like : first year 20%, second year 15%, third 10%, than min 5% per year. But with this big interest your have after 5 years only 10,500,000 Mio Coins. I think Quit Dough must spreed out to the people, need more miners and a longer pow phase, more attention on the markt and every where, new markt like bittrex. i think a coin likes this one must reach the max Coinsupply in 5 years or so, 20 or 30 years makes no sense or?  Your shop is allready working matt? every one can buy with Quit Dough yes? Than we need an big Articel plus an big exchange, otherwise nobody cares in your coin. When this Coin gets Attention, and get an easily Entry for people who dont know what crypto is but need E-Cigs, than we go to Skyrocking! Thats only what im thinking, have a nice day and looking forward!

Cheers

Hay Ruff
All good points, So going from 100 to around 25 per block seems better and gets the coins into the market but without a flood, raising POS interest seems like its needed as well so people get a reward for holding not dumping or buying. So much of the plan requires a stable and higher price. The  team at Quit would really like to peg quit to product one day.

Cheers for the input Matt

[QuitDough]

Having it mixed PoS/PoW would be the best IMHO.

PoS is indeed needed very much, so e-cigs sellers do not dump the coins they get immediately back to the QUIT market. With PoS they have some incentive to keep the coins longer. This will help to prevent dumps from sellers to some extent.

PoW (with lower rewards) could be useful to control the price, so it doesn't skyrocket. All we want the price to go to the moon , but its is not healthy for coin like this, there a stable price (slowly growing) is preferable for everyone except day-traders.

Just my 2 cents. The exact numbers on PoW and PoS rewards is the real challenge though.

100% right Drays
We are after a stable price, the price really doesn't matter over the stable part. We are marketing now to the electronic cigarettes users and also the shops, but this is done slowly, first the users and as the coin gets all the needed parts so it can trade and enough coins in the market then we go for the shop owners.

We have many parts to the plan that are coming but we cant rush most parts as the coin need to age grow and also be more user friendly. I know in crypto everything runs at 100 times the speed of other markets and many coins are just a coin with some crypto features, the real trick we have is running this coin into a business plan with products/sales etc.

So when we work out just the right amount of coins per block and also the POS rewards we will update the coin and also do more coin related things like Mac wallets, android and many other things the team has planed.

Cheers Matt

[QuitDough]

Sent out the latest bounties and also info for new Quit stores, check PM's people.

Matt

[QuitDough]

Ok the team is decided, we will drop the block reward to 20 per block and also increase the POS rewards to 10%. We don't want to reward multi pool mining dumpers and we are going to give some love to the holders of Quit.
We will get this sorted as soon as we can.

Cheers Matt

[QuitDough]

Sending out the info on how to run a store to the vendors now.

If you want to get a free store to make money, then get some QUIT asap, we will be offering more new stores on ecigsarcade.com in the next few days to the largest holders of Quit in wallet.

Cheers Matt

[letsplay]

Sending out the info on how to run a store to the vendors now.

If you want to get a free store to make money, then get some QUIT asap, we will be offering more new stores on ecigsarcade.com in the next few days to the largest holders of Quit in wallet.

Cheers Matt

Got some more Quit so fingers crossed is enough to hold my place!
Nice work on the site its looking really good, is the app on the site that if for the million quit coins giveaway finished as in does it count now? also is the million coins giveaway the premine?

[QuitDough]

Sending out the info on how to run a store to the vendors now.

If you want to get a free store to make money, then get some QUIT asap, we will be offering more new stores on ecigsarcade.com in the next few days to the largest holders of Quit in wallet.

Cheers Matt

Got some more Quit so fingers crossed is enough to hold my place!
Nice work on the site its looking really good, is the app on the site that if for the million quit coins giveaway finished as in does it count now? also is the million coins giveaway the premine?

Yes the million coin giveaway is live and working but we are going to make it look better as soon as we have time to
Yes the million Quit Coins are from the premine, its more than 1/3 and will spread over time from the sites giveaway game, anyone can play it and use it you don't need to buy in-store to win coins.
Cheers Matt

[apojii]

Hope to take this coin to Bittrex exchange.

[QuitDough]

Hope to take this coin to Bittrex exchange.

I have tried and tried to get on bittrex and will keep harassing them, but after we have done the changes to the coin setup going from 100 coins per block to 20 and increase the POS and have new wallets for both WIN and MAC we will push the other exchanges, no point this week as we need to recompile wallets etc and i would rather have all that done before i push hard to get on other exchanges.

Better volume this week but the miners are still dragging it down, once the coins specs are changes we expect a better price and also more stable.

Cheers Matt

[MickGhee]

i love QUIT u guys just keep going i cant understand why they arent buying its like they dont want to see someone do something.. im fighting for ya