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    Author Topic: [ANN][XC] >> Mandatory Update to new Wallet - The first POS X11 anonymous wallet  (Read 268580 times)

    • MrWHALE
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    May 24, 2014, 01:47:35 AM
    Last edit: May 24, 2014, 02:04:12 AM by MrWHALE
     #1381
    Quote from: battbot on May 24, 2014, 01:28:22 AM
    Quote from: sacskate on May 24, 2014, 01:26:51 AM
    Changing the specs is fine. Just call it what it is then. I do not care what the specs are honestly. It's just that changing them for this reason is showing the world that this coin is only worried about the short term price and making a profit. If the dev really has this great anon code then it would be a shame to waste it on a coin where the community only cares about its current price. How many bitcoin get dumped daily? People continue to buy bitcoin because it is useful and has an obvious future, so they know the coin will out last the current dump. These people see dumps as a chance to get cheap coins that in a few years will most likely be worth much more. If an alt coin is only only relying on the current price it is by definition nothing but a pump and dump coin. Go ahead and change the specs, if the the anon wallet is legit it won't matter. I'm simply pointing out that by doing so the community is admitting they do not believe the innovation in this coin can survive dumps. If you think your model is the best then you should be supported some pos only coin that was distributed through an ipo.

    No, it is the opposite.  We are not worrying about the short term price -- but the long term price!!  Veritas just explained this above.  The main problem is that over 75% of the coins are going to be minted AFTER the biggest selling feature (anon tech) is released.  This is going to kill the coin in the long term.  People buy on news, and they sell on facts.  Why can't you guys understand this?  

    Also -- it is taking an unnecessary risk to assume that the anon feature will defy the normal patterns of alt coins.  You cannot compare an alt coin's market patterns to BTC.  Why not heed our advice to ensure the highest probability of sustaining a healthy coin, long term?

    100% agree with this --> the biggest problem here is that the main selling feature (anon) will be released and then 75% of the supply will be mined after that.  I can only see this hurting the coin long term.  Or, to put it positively - it will grow the coin SIGNIFICANTLY less than the coin would grow if total supply block reward were reduced.

  • brother3
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    May 24, 2014, 01:51:11 AM
     #1382
    Quote from: MrWHALE on May 24, 2014, 01:47:35 AM
    Quote from: battbot on May 24, 2014, 01:28:22 AM
    Quote from: sacskate on May 24, 2014, 01:26:51 AM
    Changing the specs is fine. Just call it what it is then. I do not care what the specs are honestly. It's just that changing them for this reason is showing the world that this coin is only worried about the short term price and making a profit. If the dev really has this great anon code then it would be a shame to waste it on a coin where the community only cares about its current price. How many bitcoin get dumped daily? People continue to buy bitcoin because it is useful and has an obvious future, so they know the coin will out last the current dump. These people see dumps as a chance to get cheap coins that in a few years will most likely be worth much more. If an alt coin is only only relying on the current price it is by definition nothing but a pump and dump coin. Go ahead and change the specs, if the the anon wallet is legit it won't matter. I'm simply pointing out that by doing so the community is admitting they do not believe the innovation in this coin can survive dumps. If you think your model is the best then you should be supported some pos only coin that was distributed through an ipo.

    No, it is the opposite.  We are not worrying about the short term price -- but the long term price!!  Veritas just explained this above.  The main problem is that over 75% of the coins are going to be minted AFTER the biggest selling feature (anon tech) is released.  This is going to kill the coin in the long term.  People buy on news, and they sell on facts.  Why can't you guys understand this?  

    Also -- it is taking an unnecessary risk to assume that the anon feature will defy the normal patterns of alt coins.  You cannot compare an alt coin's market patterns to BTC.  Why not heed our advice to ensure the highest probability of sustaining a healthy coin, long term?

    100% agree with this --> the biggest problem here is that the main selling feature (anon) will be released and then 75% of the supply will be mined after that.  I can only see this hurting the coin long term.  Or, to put it positively -- it will grow the coin SIGNIFICANTLY less than the coin would grow if total supply block reward were reduced.

    I actually agree with this too

  • sacskate
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    May 24, 2014, 01:54:05 AM
     #1383
    Haha ok. If it gets changed just so you guys that normal are minnows can become whales I will have to gracefully bow out as well. I don't trust changes made simply to benefit the few. Enjoy  Wink

  • solid12345
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    May 24, 2014, 01:58:57 AM
     #1384
    Any word on the second teamview that was supposed to happen tonight? I'm not qualified to watch and comment but would love to hear more 3rd party verification.

  • battbot
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    May 24, 2014, 02:00:12 AM
     #1385
    Either get rid of PoS altogether and make mining never ending like DRK with reduced block rewards.  Or keep PoS and reduce total supply + PoW phase block rewards.

    This would be a totally different story if you were releasing anon tech near the end or at the end of PoW phase, but as it stands now, you are releasing after only 25% of PoW phase.  This is going to stunt long term growth as 75% coins are minted AFTER the "hype" anon tech is already delivered.

  • sacskate
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    May 24, 2014, 02:04:18 AM
     #1386
    So what would happen if it was released with it? Should devs hold back new features until the end of pow?

  • battbot
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    May 24, 2014, 02:06:09 AM
     #1387
    Quote from: sacskate on May 24, 2014, 02:04:18 AM
    So what would happen if it was released with it? Should devs hold back new features until the end of pow?

    Sacskate -- clearly we are talking about maximizing success here.  Of course, the coin will be successful with anon tech no matter what the dev decides to do, no one is arguing against that.  We are trying to offer sound advice to maximize its success and longevity.  That is all.  

  • atcsecure (OP)
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    May 24, 2014, 02:09:55 AM
     #1388
    Quote from: brother3 on May 24, 2014, 01:51:11 AM
    Quote from: MrWHALE on May 24, 2014, 01:47:35 AM
    Quote from: battbot on May 24, 2014, 01:28:22 AM
    Quote from: sacskate on May 24, 2014, 01:26:51 AM
    Changing the specs is fine. Just call it what it is then. I do not care what the specs are honestly. It's just that changing them for this reason is showing the world that this coin is only worried about the short term price and making a profit. If the dev really has this great anon code then it would be a shame to waste it on a coin where the community only cares about its current price. How many bitcoin get dumped daily? People continue to buy bitcoin because it is useful and has an obvious future, so they know the coin will out last the current dump. These people see dumps as a chance to get cheap coins that in a few years will most likely be worth much more. If an alt coin is only only relying on the current price it is by definition nothing but a pump and dump coin. Go ahead and change the specs, if the the anon wallet is legit it won't matter. I'm simply pointing out that by doing so the community is admitting they do not believe the innovation in this coin can survive dumps. If you think your model is the best then you should be supported some pos only coin that was distributed through an ipo.

    No, it is the opposite.  We are not worrying about the short term price -- but the long term price!!  Veritas just explained this above.  The main problem is that over 75% of the coins are going to be minted AFTER the biggest selling feature (anon tech) is released.  This is going to kill the coin in the long term.  People buy on news, and they sell on facts.  Why can't you guys understand this?  

    Also -- it is taking an unnecessary risk to assume that the anon feature will defy the normal patterns of alt coins.  You cannot compare an alt coin's market patterns to BTC.  Why not heed our advice to ensure the highest probability of sustaining a healthy coin, long term?

    100% agree with this --> the biggest problem here is that the main selling feature (anon) will be released and then 75% of the supply will be mined after that.  I can only see this hurting the coin long term.  Or, to put it positively -- it will grow the coin SIGNIFICANTLY less than the coin would grow if total supply block reward were reduced.

    I actually agree with this too

    This is a complex issue with no simple answer, I understand the concerns of massive mining farms dumping coins but at the same time there is a cost to produce the coin, and if they dump at a loss then it is gain for the buyer...

    also any change at that layer would require a HARD FORK that carries some risk to the stability of the network. It is possible a dynamic algorithm could be used on the block reward, reducing as difficulty increase's... I'd be interested in getting productive feed back - please email me at atcsecure@x11coin.org as I simply can't keep up with the thread, I'm looking for people on both sides to provide valuable info... don't email me with "to da moon" reduce the coins...
    Join the revolution - XC - Decentralized Trustless Multi-Node Private Transactions

  • sacskate
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    May 24, 2014, 02:11:00 AM
     #1389
    I appreciate that. I just wish more focus would be put on the future development of the coin and not how to manipulate it's exchange rate good or bad.

  • atcsecure (OP)
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    May 24, 2014, 02:12:40 AM
     #1390
    Quote from: battbot on May 24, 2014, 02:06:09 AM
    Quote from: sacskate on May 24, 2014, 02:04:18 AM
    So what would happen if it was released with it? Should devs hold back new features until the end of pow?

    Sacskate -- clearly we are talking about maximizing success here.  Of course, the coin will be successful with anon tech no matter what the dev decides to do, no one is arguing against that.  We are trying to offer sound advice to maximize its success and longevity.  That is all.  

    regardless of the POW question/debate, development is going to continue and new features are going to be added... a lot of new features over the next several months and then the Mobile/Android Wallet and Point of Sale integration, 3rd party payment networks....
    Join the revolution - XC - Decentralized Trustless Multi-Node Private Transactions

  • cyberhacker
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    May 24, 2014, 02:13:24 AM
     #1391
    Quote from: veritasBS on May 24, 2014, 01:23:16 AM

    We need to seize the opportunity the dev has built...I am currently the largest known coin holder in six different alt coins in the top 30 on coimmarketcap. I have reinvested 100's of btc in the coins I hold through donations to the cause. I would like to take a long term position here but the situation I laid will happen here. I am in xc now for trading the anon news, weather or not i stay depends on if the change is made. I would like us all to make money together, but if you are not willing to build this coin into a powerhouse and in doing so make a killing...i will make a my money and leave.
     

    i can not agree with veritasBS anymore.

    more anon coins are coming!

    we have to seize the opportunity!

  • atcsecure (OP)
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    May 24, 2014, 02:13:38 AM
     #1392
    Quote from: sacskate on May 24, 2014, 02:11:00 AM
    I appreciate that. I just wish more focus would be put on the future development of the coin and not how to manipulate it's exchange rate good or bad.


    For the record I'm burning 99.9% of my bandwidth working with the other dev's and eating/sleeping when possible
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  • cyberhacker
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    May 24, 2014, 02:17:05 AM
     #1393
    Quote from: veritasBS on May 24, 2014, 01:43:19 AM
    Quote from: sacskate on May 24, 2014, 01:40:52 AM
    Long term success relies on development of a coin and it's usefulness,  not the amount of coins or dumps. Those things are short term problems. Why not compare this coin to bitcoin?  Is it just another altcoin? When devs stop caring what their coins are worth on cryptsy and start actually developing new, useful ideas altcoins will become more than just an alternative to bitcoin coin.
    You dont understand...

    i understand veritasBS.

    there is shit loads of coins dumped to nowhere by miners. like hirocoin, which is a some kind of innovative with forwarding think.

    but the supply killed that coin.

    tons of coins coming with anon features. if we do not seize the opportunity to stand out among shitcoins. we will be shitcoin soon.

  • cyberhacker
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    May 24, 2014, 02:18:27 AM
     #1394
    Quote from: atcsecure on May 24, 2014, 02:13:38 AM
    Quote from: sacskate on May 24, 2014, 02:11:00 AM
    I appreciate that. I just wish more focus would be put on the future development of the coin and not how to manipulate it's exchange rate good or bad.


    For the record I'm burning 99.9% of my bandwidth working with the other dev's and eating/sleeping when possible

    please. make sure deliver the wallet on time. we can't afford failing.

  • atcsecure (OP)
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    May 24, 2014, 02:19:37 AM
     #1395
    Quote from: cyberhacker on May 24, 2014, 02:13:24 AM
    Quote from: veritasBS on May 24, 2014, 01:23:16 AM

    We need to seize the opportunity the dev has built...I am currently the largest known coin holder in six different alt coins in the top 30 on coimmarketcap. I have reinvested 100's of btc in the coins I hold through donations to the cause. I would like to take a long term position here but the situation I laid will happen here. I am in xc now for trading the anon news, weather or not i stay depends on if the change is made. I would like us all to make money together, but if you are not willing to build this coin into a powerhouse and in doing so make a killing...i will make a my money and leave.
     

    i can not agree with veritasBS anymore.

    more anon coins are coming!

    we have to seize the opportunity!

    on the flip side, all the FAST distro POW' and then POS coins have failed too
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  • cyberhacker
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    May 24, 2014, 02:25:05 AM
     #1396
    Quote from: atcsecure on May 24, 2014, 02:19:37 AM
    Quote from: cyberhacker on May 24, 2014, 02:13:24 AM
    Quote from: veritasBS on May 24, 2014, 01:23:16 AM

    We need to seize the opportunity the dev has built...I am currently the largest known coin holder in six different alt coins in the top 30 on coimmarketcap. I have reinvested 100's of btc in the coins I hold through donations to the cause. I would like to take a long term position here but the situation I laid will happen here. I am in xc now for trading the anon news, weather or not i stay depends on if the change is made. I would like us all to make money together, but if you are not willing to build this coin into a powerhouse and in doing so make a killing...i will make a my money and leave.
     

    i can not agree with veritasBS anymore.

    more anon coins are coming!

    we have to seize the opportunity!

    on the flip side, all the FAST distro POW' and then POS coins have failed too

    EITHER WAY  reduce the reward and make pow longer. it will make ppl hold precious things.

    as long as the anon wallet out. dumping will be eased.

    but with current reward. i doubt.

    so please work out a plan to make this coin huge and stand among top 5

  • sacskate
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    May 24, 2014, 02:26:56 AM
     #1397
    Any coin that has nothing new and useful will fail no matter what, be it now or in a year. Hiro is just a darkcoin clone. Litecoin improved on bitcoins slow transactions. Some coins have came out with useful things and then stopped. The key to a long term coin that could legit be 2nd to be bitcoin is to consistently develop new and useful features. The rest is irrelevant.  If it were to get dumped it would come right back because of its rep. People will know it will come back and this is what would make people afraid to dump. Regardless of their rigs.

  • Taner
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    May 24, 2014, 02:27:40 AM
     #1398
    Quote from: atcsecure on May 24, 2014, 02:09:55 AM
    Quote from: brother3 on May 24, 2014, 01:51:11 AM
    Quote from: MrWHALE on May 24, 2014, 01:47:35 AM
    Quote from: battbot on May 24, 2014, 01:28:22 AM
    Quote from: sacskate on May 24, 2014, 01:26:51 AM
    Changing the specs is fine. Just call it what it is then. I do not care what the specs are honestly. It's just that changing them for this reason is showing the world that this coin is only worried about the short term price and making a profit. If the dev really has this great anon code then it would be a shame to waste it on a coin where the community only cares about its current price. How many bitcoin get dumped daily? People continue to buy bitcoin because it is useful and has an obvious future, so they know the coin will out last the current dump. These people see dumps as a chance to get cheap coins that in a few years will most likely be worth much more. If an alt coin is only only relying on the current price it is by definition nothing but a pump and dump coin. Go ahead and change the specs, if the the anon wallet is legit it won't matter. I'm simply pointing out that by doing so the community is admitting they do not believe the innovation in this coin can survive dumps. If you think your model is the best then you should be supported some pos only coin that was distributed through an ipo.

    No, it is the opposite.  We are not worrying about the short term price -- but the long term price!!  Veritas just explained this above.  The main problem is that over 75% of the coins are going to be minted AFTER the biggest selling feature (anon tech) is released.  This is going to kill the coin in the long term.  People buy on news, and they sell on facts.  Why can't you guys understand this?  

    Also -- it is taking an unnecessary risk to assume that the anon feature will defy the normal patterns of alt coins.  You cannot compare an alt coin's market patterns to BTC.  Why not heed our advice to ensure the highest probability of sustaining a healthy coin, long term?

    100% agree with this --> the biggest problem here is that the main selling feature (anon) will be released and then 75% of the supply will be mined after that.  I can only see this hurting the coin long term.  Or, to put it positively -- it will grow the coin SIGNIFICANTLY less than the coin would grow if total supply block reward were reduced.

    I actually agree with this too

    This is a complex issue with no simple answer, I understand the concerns of massive mining farms dumping coins but at the same time there is a cost to produce the coin, and if they dump at a loss then it is gain for the buyer...

    also any change at that layer would require a HARD FORK that carries some risk to the stability of the network. It is possible a dynamic algorithm could be used on the block reward, reducing as difficulty increase's... I'd be interested in getting productive feed back - please email me at atcsecure@x11coin.org as I simply can't keep up with the thread, I'm looking for people on both sides to provide valuable info... don't email me with "to da moon" reduce the coins...



    Quote
    It is possible a dynamic algorithm could be used on the block reward, reducing as difficulty increase's...

    Please do this. Don't give to circulation more than 2M coins for year.

  • battbot
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    May 24, 2014, 02:31:08 AM
     #1399
    Quote from: atcsecure on May 24, 2014, 02:19:37 AM
    Quote from: cyberhacker on May 24, 2014, 02:13:24 AM
    Quote from: veritasBS on May 24, 2014, 01:23:16 AM

    We need to seize the opportunity the dev has built...I am currently the largest known coin holder in six different alt coins in the top 30 on coimmarketcap. I have reinvested 100's of btc in the coins I hold through donations to the cause. I would like to take a long term position here but the situation I laid will happen here. I am in xc now for trading the anon news, weather or not i stay depends on if the change is made. I would like us all to make money together, but if you are not willing to build this coin into a powerhouse and in doing so make a killing...i will make a my money and leave.
     

    i can not agree with veritasBS anymore.

    more anon coins are coming!

    we have to seize the opportunity!

    on the flip side, all the FAST distro POW' and then POS coins have failed too

    That is debatable that all fast distro PoW/PoS coins have failed.  But ours is not that fast (as 3-7 days), this is why I proposed: 10m coins and let PoW continue for another 1-2 weeks max with reduced block rewards.  This will give XC enough time to get a proper XC multipool created so miners can continue mining after PoW is over, and instead of mining to dump XC, they will be mining to buy XC

    This will give about 3-4 weeks total mining.  This is a nice and balanced PoW distro phase, IMO.  3 months is too long, but especially if 2 of those months are AFTER anon tech is released.

  • cyberhacker
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    May 24, 2014, 02:39:35 AM
     #1400
    Quote from: battbot on May 24, 2014, 02:31:08 AM
    Quote from: atcsecure on May 24, 2014, 02:19:37 AM
    Quote from: cyberhacker on May 24, 2014, 02:13:24 AM
    Quote from: veritasBS on May 24, 2014, 01:23:16 AM

    We need to seize the opportunity the dev has built...I am currently the largest known coin holder in six different alt coins in the top 30 on coimmarketcap. I have reinvested 100's of btc in the coins I hold through donations to the cause. I would like to take a long term position here but the situation I laid will happen here. I am in xc now for trading the anon news, weather or not i stay depends on if the change is made. I would like us all to make money together, but if you are not willing to build this coin into a powerhouse and in doing so make a killing...i will make a my money and leave.
     

    i can not agree with veritasBS anymore.

    more anon coins are coming!

    we have to seize the opportunity!

    on the flip side, all the FAST distro POW' and then POS coins have failed too

    That is debatable that all fast distro PoW/PoS coins have failed.  But ours is not that fast (as 3-7 days), this is why I proposed: 10m coins and let PoW continue for another 1-2 weeks max with reduced block rewards.  This will give XC enough time to get a proper XC multipool created so miners can continue mining after PoW is over, and instead of mining to dump XC, they will be mining to buy XC

    This will give about 3-4 weeks total mining.  This is a nice and balanced PoW distro phase, IMO.  3 months is too long, but especially if 2 of those months are AFTER anon tech is released.

    do it! this man does have great points!
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