June 22nd Terracoin Update - Static

Real quick

The developer (Ahmed) working on implementing the DASH code says he is on schedule!  We also are continuing to work on the website and guides.

Masternodes

We have been discussion the masternodes on Slack and we have decided not to have the collateral amount lower every two months.

The collateral will be static at 10,000 TRC.

We have decided to do this because if people have to mess with their masternodes all of the time it can cause a loss of income.  There also was some concern that it punishes early adopters.

We are still dedicated to making sure that as many people as possible can partake in the masternode rewards.  The Terracoin Foundation will be setting up masternodes where you can get a share of the masternode for 1,000 TRC.  This number will probably change in the future as the cost of TRC rises.  This way we can have a flucuating amount of TRC needed while not causing everyone to have to constantly reset up their masternodes.

We also will be working on partnerships with 3rd party masternode hosts and people who will offer shares of a masternode.  That way you can have a variety of options.

Feel free to join the discussion on slack!  This link is regenerated every week: https://join.slack.com/terracoin/shared_invite/MjAyNDM4NDYwMjkzLTE0OTgxNzgyNTgtNWY1ZWM5MTliNw

Count Down

Reward halving ≈ 42 Days
Testnet = 5 Weeks
Hard fork = 13 Weeks

Numbers

30 days ago we were at 0.00000689 BTC (.0141 USD) and today we are at 0.00001471 BTC (.0367 USD). In the past 7 days we have not went over the 20 cent (USD) price goal.

We are ranked 313 on coinmarketcap with a market cap of $749,498 USD. Last week our market cap was $678,338 USD.

Source: http://coinmarketcap.com/currencies/terracoin/#charts

Donation Addresses

Terracoin: 12bTKJL3UiypnVQMyFXg7eCJudAyAtgh6p
Bitcoin: 14LW52k8vhHvHaGfmgx48d3su4RcKPyKcc

We would love to get on higher volume exchanges but until we have decentralized governance and proposals we just don't have the donation power to pay for the entry fee.

This is what I suggest.

Everyone who wants to get on a higher volume exchange like Bittrex should buy a bit of Terracoin then donate a bit of Bitcoin.  When Terracoin goes up in price from being on a higher volume exchange, and from the code we are implementing, you can sell some of your TRC stash and make some money.

Just an idea. 

3 Bitcoins.

I'm not sure I understand what you are suggesting.  I think you are saying you want scaling rewards, so if you have 10K masternode you get 10x what a 1K masternode would get?

The problem with having masternodes with different prices is how masternodes are paid out.  The rewards are randomly paid out to each masternode and since it is random the rewards are eventually spread out to all the masternodes.  They pay out the same amount to each masternode.

Also voting would then be impacted.

I don't think it is really doable at this time, but the share option is doable at this time so we decided to work towards that goal.

When I run 1k masternode will ming reward 10 x less than 10k masternode. Scaling the reward of the size of the masternode, that no other coin has.

Even now to buy 10k trc doesnt pay too much. Probably halving will play some role in price and then update.

You need to set mid price (sell price + buy price 2) to have high possibility to get filled in short time. Otherwise, you will wait.

June 29th Update - World

One of the main goals of The Terracoin Foundation is to help out the world through donations to worthy causes that affect everyone on the planet.

In the future we will have the ability to use the decentralized governance to put in proposals that will benefit world wide non-profit organizations.

In the mean time we have had some generous donations to get the ball rolling.

We have had a total of 80,000 TRC donated to our special "Donations for the World" address.

We will be giving away this Terracoin in chunks of 20,000 to non-profits once TRC hits $1 USD.

We do need your help though!  We need to decide on which non-profits we want to donate to.

We are looking for non-profits that benefit the whole world.

Currently we are pretty sure we want to donation the first 20,000 TRC to http://www.whoi.edu/.

If you have ideas about which non-profits we should donate to then please post.

If you want to help the world out then feel free to donate to the Donations for the World address:  1BQH6gBzkxxyMQG3VSJCHnmVGfWu64nbPL

With each chunk of 20,000 TRC donated we gather we will add another non-profit to the list.

Once Terracoin averages $1 USD for a week we will start giving away the donations.

Thanks for the donations so far!

Countdown

Reward halving ≈ 35 Days
Testnet = 4 Weeks
Hard fork = 12 Weeks

Numbers

30 days ago we were at 0.00000634 BTC (.0145 USD) and today we are at 0.00001493 BTC (.0374 USD). In the past 7 days we have not went over the 20 cent (USD) price goal.

Because of low volume we are ranked 447 (it would be around 313 with higher volume) on coinmarketcap with a market cap of $763,429 USD. Last week our market cap was $749,921 USD.

Source: http://coinmarketcap.com/currencies/terracoin/#charts

Donation Addresses

Terracoin: 12bTKJL3UiypnVQMyFXg7eCJudAyAtgh6p
Bitcoin: 14LW52k8vhHvHaGfmgx48d3su4RcKPyKcc
Terracoin Donations for the World: 1BQH6gBzkxxyMQG3VSJCHnmVGfWu64nbPL

We have a Filipino one, but it looks like it hasn't gotten any posts.  I will talk to our guy and see if he can update it.  I would love to have a Chinese, Indian and Korean ANN.  Send anyone who wants to volunteer to do translations my way.  Thanks!