Topic: [ANN] Akencash - UNIVERSAL, SCALABLE BLOCKCHAIN PLATFORM - page 3. (Read 4201 times)

I guess we just wouldn't agree that the community effect of the change is worth it just to increase the attractiveness and price of the MN's. The long term effect on the coin we think will be negative although short term I guess you will sell plenty of MN's when the ROI is published on masternode sites.

Like I said we don't have a stake in this and may be wrong but it's enough for us at least to avoid any involvement. If it's simply your way of solving your mining centralisation problem then the algo switch you mentioned would make more sense.

Thank you for the point of view! We understand you. You're right, at the start we don't have significant distinctions. The only important thing we have is a voting system which not many projects use.
To develop project and make it more notable we need a strong marketing campaign and we're working on it. Promotion activities take funds, so we need to sell some quantity of nodes. There is no many coins at this moment because the network works for just 20 days.
Thank you for your opinion! We have to consider it. We'll make updates and see how it affects to platform and community. If it brings a huge negative effect, we'll arrange a voting and discussion with community members, then we'll use our flexibility and change the algorithm. What do you think?

Well, there's no disappointment - whilst we briefly put a small rig on it on when launched we don't have any rigs mining Aken now or host any Aken MN's. Our decision was that it didn't offer anything other than a speculative mining opportunity and there were better returns available.

The coin doesn't seem to have any unique use cases and is simply offering another method of payment. The switch to focus almost solely on MN sales and rewards will reduce the community support significantly and correspondingly the chance of the coin being adopted over the hundreds(?) of other coins with an almost identical roadmap and lack of unique uses.

There are currently only enough Aken for three MN's available for sale through your exchange meaning that anyone wanting to host one is going to have little choice but to buy it from the devs premine. I'm not saying that makes the coin a scam but MN sales and premine dumping are the most common kinds of exit scams so you can see why (without any visible community requirement for it on here, Discord or Telegram) today's announcement is a red flag.

HOW TO UPDATE WALLET

Just replace your current akencash-qt.exe (or Akencash Core.app on MacOS) with recent version (v0.4.4.1):
https://aken.cash/#wallets

It's also a good idea to backup your wallet (File->Backup Wallet) before doing an upgrade.

HOW TO UPDATE MASTERNODE TO V0.4.4.1
https://aken.cash/help.php#update

Hi! Thanks for your question! 

Let us be honest, we can not be competitors to such a huge projects like Dash or PIVX, at least at this moment. But in comparison to other masternode projects we have a foundation which was established to maintain, develop, improve and promote the AKN project. Every month we’re going to discuss ideas of every community member, run voting and choose the best concepts. Near the end of each month (approximately on 25th day of the month) all the concepts will be received and considered, then the decision will be announced and accepted. Those concepts will be included to the following workflow process that directed to evolve system and platform. So, we have an intention to build a great community with accessible payment platform 


How is it differ from similar projects?

HOW TO UPDATE MASTERNODE TO V0.4.4.1

https://aken.cash/help.php#update

Hi! Thank you for your opinion and support! We understand your disappointment. Let us explain. For such a step there are some reasons we posted above. Besides those reasons, we want to gather a community of interested members and long terms investors. When member is being a masternode holder, he has a stronger interest to be steady participant of the system. Nothing impede you to buy masternode now with a pretty low price. It can give a good profit in prospect and possibility to take active participation in development of the project. You can share your ideas, propose it and vote every month. As you can see we don't get reward from each block, there is no such point in reward division. We just have a foundation (50 masternodes) which directed to improve, evolve and promote the project. All the funds from foundation will be used for following modernization and expansion of the platform like system updates, mobile wallets, promotions, bounties, listings on exchanges and all the clauses from the roadmap (https://aken.cash/#roadmap).
It's not about lack of planning, it's about flexibility and desire to move on. We act according to our roadmap.
Of course we need to sell masternodes to extend network and use funds to promote platform, getting it more popular and attracting new community members. Listing on a big exchange takes a lot of money. Let's consider HitBTC for instance. The cost of listing on this exchange is 15 BTC. Marketing is expensive field as well.
Do you think it's not a good move? What can you advise us and what actual steps would you make as a team member?
Let's discuss it. Please, feel free to ask us any question you have. We want to know any point of view of every community member. It's important to us.

Mining rewards weren't particularly attractive with the 50/50 block reward - changing PoW to 10% kills that completely.

What were the concerns of your investors that caused this change? We follow your Telegram and Discord groups and didn't see any complaints or concerns raised in either of them. Also no discussion with the community prior to this announcement.

Honestly, such a massive change in the project just two weeks after it was launched raises big red flags. At best it shows a lack of planning and foresight, at worst the more cynical may think the main beneficiary would be the premine holder especially considering the constant push to sell MN's since launch...

Hello, guys!
Due to concern of our investors, the AKN team have made a decision to change Block Reward Distribution. This will increase interest for potential investors and consolidate AkenCash community. More people take an interest to be a masternode holder, therefore it brings members who will maintain the project in the long term. This make a system is more scalable and expanded. AkenCash is going to put away aging model of mining and take a newer one, like multiple major projects do in the cryptoworld. From this point we are going to change reward distribution in the following way:
10% to to miners
90% to to masternode holders

New updates will come into effect from the 13440 height block. Kindly remit you to update your clients and masternodes before this event. Old masternodes can not interact with new updated ones. There are ~1000 blocks left approximately (~1.4 day).

All owners of wallets, Masternodes will need to update the software. It is also desirable to make backup copies of private keys before updating your clients.
All balances will remain after the software update.
https://github.com/akencash/akencash/releases/

All pools that wish to continue mining have to upgrade their console daemon Akencash.
No additional actions required, just replace existing app with a new version.
It would detect and use existing blockchain automatically.
https://github.com/akencash/akencash/releases/

We’ll announce an update instruction in near future. Keep in touch, please!

Thank you for attention, support and faith in the project, guys! You’re the best! Together we are making AkenCash better!

Hello, guys! April’s updates are coming!
Yesterday we accomplished distribution for the first and second rounds of bounty campaign which had place in March. All the guys who followed terms - got airdrop. Here are transparent results:
https://docs.google.com/spreadsheets/d/1XSAZAtmJKy4bRMPJQBqH3ZKFFpbaDYybYh3Mwb11U28/edit?usp=sharing

Let us remind you about "Masternode Chance" campaign where you can buy masternode with 20% discount till April 5th. There are 37 masternodes left. You can find all the terms and rules in our discord channel, right here:
https://discord.gg/GtPHznp

As you know, Aken Cash has a voting system. All the masternode holders can share and propose ideas to promote and evolve the project. The best concepts will be included in workflow of the platform. We’re glad to receive ideas from our dear community members, we are all the team of Aken Cash here. So, we officially open an "Ideas" chat in discord channel, and create a google form to get your concepts and proposals.
https://goo.gl/forms/qKcSQoOmLQn9SG742

Thank you for your support guys, you’re the best!

Hi! Thank you so much for your kind words!

Hi! Thank you for your support!

Hi! You can ask a question in our discord channel
https://discord.gg/CubNZUR

Must be developed after this project, because it is a good idea and I like it.

I already read your whitepaper. Glad that you are changing the main problem of this self-employed thing.

does someone mine at pool.aken.cash ? i can't connect it on port 3333 i use:

minerd -o stratum+tcp://pool.aken.cash:3333 -u mylogin.worker -p workerpass -t 7

minerd version: 2.4.3

Does someone know whats wrong?

TNX

Coinlib just listed Aken Cash

https://coinlib.io/coin/AKN/Aken+Cash