nkacrypto
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September 21, 2018, 01:04:05 AM |
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Wolfie has not responded to me in two weeks now and does not even appear in the IncaKoin discord channel although he is online; regtable (who is perhaps the DEV Jamie) doesn't respond either.
On Sep 3rd, Wolfie (the founder) assured me that the staking issue would be resolved “right away”, but now seems he has abandoned the project for some reason; or at least doesn’t respond.
Now to clarify the staking problem myself and other large investors suffer from, is as follows.
Wallet addresses which have received large sums of 50 million coins in several transfers sent to them, will not stake anymore. The log file shows an error of the TX being too high.
Six inputs are now rolled into one output, and with large inputs rolled together, the network refuses to accept the stake.
How large is too large? We have no idea.
Although, over the past five years, we have been able to send a maximum of 99 million coins per send, and they would stake without any problem.
But, several people by my recommendation, have had coins saved for more than six months without staking, and so now those coins are stuck associated to keys which cannot be moved or staked, without losing the accrued staking weight.
In my case, I have several addresses which have 250 days of staking weight. If I were to move those NKA to another address to stake them (after the 35 days), I would lose that increase of +70% the amount of coins as of now.
Although the amount of coins is not really the issue at all, it is a matter of the percentage ownership of the network of which has been invested in.
The large interest rate (or inflation), is really no problem, because no one is “doing it to us”, as we can all stake at the same rate. But now in this case, every day that goes by, the high interest rate (or inflation), works directly against us who have coins in this situation of not staking.
The others who I have helped to create air gapped offline keys on paper wallets and brain wallets, are also in the same situation, and they believe that the administration crew of this project may have very well had a look at the block explorer, found these addresses and decided intentionally to change the protocol to forbid them to stake.
They suggest to me, that they may well have had this plan, to drag this on as long as they can, and then change the protocol again, and perhaps lower the staking rate, there by stealing a large percentage of ownership of the network from myself, and these investors into their own hands, whose keys have many many tiny deposits, created to not be affected by this new unannounced protocol change, and would of course been benefiting with the inflation.
For those of us who have who hold a large portion of the network, after many years of investing (5 years for myself), this is an extremely frustrating situation, and we need this to be resolved and set back to how it has always been for the last 5 years. Only one variable needs to be set back, and this should be extremely quick and easy as a mandatory update.
Why has it not been done yet?
It has been suggested to me a couple of times now by regtable, to just go ahead and move those coins to new addresses, thereby losing the 250 days of staking weight, as if that should even be an option for us over here. Its time to get this problem fixed, as this is an easy one to fix.
The very serious problem, of which I will explain in great detail upon my next letter to you all, is a much more difficult problem to solve. The management of the project, were perfectly happy a year ago, to solve it by creating a new coin, or even a token was suggested; and simply forcing everyone to swap into it, within a very narrow time frame of two weeks or a month (where by those who missed that window would be just shit out of luck). No details of the recipe or the coin protocol were offered. An ERC-20 token, a clone of NXT, or dash, or whatever, nothing was explained, we were just supposed to accept whatever they concocted and send all the coins on the network into their hands, as they handled the swap on third party systems, (either a discord bot, or exchange), as third parties themselves to us, and just and hope trust nothing would happen during that process, and it wasn’t a bait and switch attack, or a number of other possible attack scenarios to hijack the entire network (or from those they wished to plunder), without any possible recourse, but hitmen of one sort or another.
In my next post I will reveal the details of the findings of my investigations over the years of why the IncaKoin network’s blockchain gets “stuck” every six months or a year, and the data directory needs to be removed and replaced with a backup or bootstrap, before that event happened. It will also come to light of how these events have affected our relationship with exchanges, and the difficult situation that has put them in. Yobit, for example. But enough of that bad news for now.
Finally, although it seems I’m being very hard on wolfie and the dev(s), I would like them and everyone else to know that I do and have appreciated all of the fine works and effort they have put into the project over our last five years together. They have faced this very serious problem of which we suffer, and they have done it alone, unable to share the burden for reasons I will disclose in a later post.
Being a proof of work coin, without any premine, or coins given to them from mining (as a form of taxation or robbery/extortion governance), and not being an ICO, whereby the founders just make up whatever price they want, market the project, collect the money, and after the fact don’t really need to do anything but run away and make excuses (as they’ve already collected the money).
Not having any of those sources of funding, has put wolfie (Bobby) in a very difficult and costly situation, likely paying out of his own pocket to get us on exchanges, make changes to the code by hired devs, create the paper wallets forms etc. And so I would understand any potential bitterness he or they may feel watching the ICOs for example, and their apparent free ride, funded by fools and suckers. Depleting the entire crypto space of money like a blackhole, as well as holding the price of BTC and ETH (the mothership of the ICO scams) down, as those investments of the fools and suckers were cashed out.
IncaKoin is a real coin. Its protocols are fraud and scam resistant, provided it is not changed and subverted into a scam situation from within. Lets all make sure that doesn’t happen, for the sake of its investors, the exchanges, and the future success and trust in crypto.
More to come soon...
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