Topic: [ANN] Cannacoin (CCN) | PoW->PoSV | No premine | No IPO - page 68. (Read 188520 times)

Crypto-Economics with the Cannacoin Devs - An IRC Log - 9/4/2014

http://pastebin.com/euv9c6ic

Enjoy!

The design is simplistic to... as you said, be functional.  It was originally meant to be a back-end solution for merchants, but as it was built, it became apparent that it could serve many purposes. 

Since it was done using Javascript it will be very easy to build custom skinning for mobile devices.   Prices and data are updated in real-time without refreshing the page.

Looks-wise... it looks horrible.

Functionality-wise it looks amazing.

This thing is going to be great in a month or two.

CCN is the new hottest coin right now for me. I'm trading my bitcoin for cannacoins.

looks good!   

CannaPay web-based trading and merchant processing service nearly complete!

Re: Distrbution concerns

That's also a number one concern. Distribution. However, that's been a concern from the get-go as we've not had a large amount of miners.

We are hoping that those holding large quantities of coins will assist in decentralization through giveaways.

Regardless, going with a multi-pool will allow any miners to obtain CCN by mining with whatever algorithm they want. Which is a plus.

There's no silver bullet, and no guarantee that switching to different algorithm would lead to more miners supporting the network.

At least people have ample time to mine using scrypt or buy them cheaply on the market.

Since there is no pre-mine, everyone currently holding coins has mined them or purchased them fairly.

All coins staked from the NWGT hosted wallet on the forums will go directly into a fund that will be for giveaways to NWGT members.


I would like to remind everyone that the NXT network started with just 70 holders of NXT that invested by purchasing NXT.  Those who invested in the Cannacoin network through either mining or buying with BTC have the opportunity to get people staking by using coins for giveaways.

I expect most people with large quantities of CCN to join in the giveaways.

Alternatively, you can spend them on the Cannacoin.cc/store and we will utilize them for giveaways and development.

Just a quick update for everyone.

We have decided to move to the Proof-of-stake 2.0 for many reasons. We will be utilizing the Blackcoin 2.0 codebase.

We would like to setup a Cannacoin multipool that allows people to mine using whatever algorithm they wish and receive Cannacoins. We hope to work with Suremine and perhaps Youngwebs to set this up. We have not approached them but we are pretty certain that we will find someone to help. If not, we will setup the multipool ourselves, though we would prefer to outsource the multipool.

Why PoS 2.0?

This offers a couple advantages. One being network security. The second being that this will decentralize the network by giving more people the opportunity to become nodes.

Also, we want to support the development of Blackcoin. By moving to the blackcoin codebase, we will be able to adapt quickly to changes they have made as well as provide feedback to the Blackcoin developers.

If you want to read the Blackcoin 2.0 white paper:
http://www.blackcoin.co/blackcoin-pos-protocol-v2-whitepaper.pdf

We expect this transition to take at least 30 days. We will issue a formal statement very soon and give everyone an ETA for when we will have this transition completed.

As a result of this, we would encourage anyone holding large amounts of Cannacoin to participate in our giveaway on NWGT to help give more people the opportunity to stake coins and decentralize the network.

Hoarding coins will not help increase the value of the coins or improve the network. Anyone with more than 50k Cannacoins is encouraged to participate in the giveaway which will take place on NWGT first, and after that we will do a giveaway on reddit using the tip-bot here.

We will also be doing giveaways in the #cannacoin IRC on Freenode network.
Feedback welcome.

Thanks everyone.

enjoyed the first podcast very much, hope there's another one coming

We agree with you on the influx of coins due to scrypt miners.  Fortunately for us, we have a low block reward and this helps prevent a lot of coins from getting sold on exchanges.

I apologize to our miners that we have not been more pro-active on the front of moving to different algos because we have been busy building other tools for Cannacoin.

We've got a large vision for Cannacoin and we WILL be moving to PoS 2.0 in the next couple months.  For the PoS 2.0 we will have to move to SHA256D regardless.

As for moving to x11 or NIST5, this remains an option in the short-term in order to get away from ASICs. 

We will update you guys very soon with our ETA on the switch to Proof-of-stake.

Cheers,
Patrick

I am 100% in favor of a switch to x11. I would be very sad if this switch didn't happen. I would probably sell all my coins and ignore this coin if they don't switch algos. A switch to NIST5 would probably be the best. x11/x13/x15 ASICs are on the way in 2015. NIST5 runs stable on my miners and uses a little bit less electricity than the new x11 optimized miner.

A full POS coin is risky but it would be unique this the marijuana coin niche. None exists yet. There are many POS coins now and they are stable/working so far. I am in favor of a full POS switch but only 75% confident in that decision.

I don't like how CannabisCoin switched algos, send in your scrypt wallet and your new x11 wallet address to get coins, but if that is the way CannaCoin has to do it then it is fine.

I think this coin should switch to x11+POW and then after a month go to x11+POS. All of the new coins hitting the market every day keep driving down price.

Cannacoin vBulletin integration:

As it stands the system is 100% optional and currently supports the following functionality:

Address generation (1 address per user)
http://i.imgur.com/smrv12E.png
http://i.imgur.com/IPkxjgj.png

Deposits, Withdraws & Balance (No limits & no fees)
http://i.imgur.com/Dzk71MY.png
http://i.imgur.com/71zw38d.png

Tipping via users profile -> about me
http://i.imgur.com/3AMt2jT.png

Tipping via user posts
http://i.imgur.com/JDm4jk3.png

We have plans to expand and refine upon this system and eventually release it to the public once we feel it's ready. We're hoping with this new platform users will start to harness the true potential in crypto as well as show some appreciate to user posts, campaign fundraisers or start crowdfunding projects etc. all via the VBulletin/NWGT Forums!

We're always open to suggestions if there's something you want to see, let us know!

The best part is that users don't need to download and run a Cannacoin client whatsoever. We've built a secure platform that hosts wallets (anonymously) and allows instant anonymous transactions.

Cannacoin is another way to give and receive

Here's a few ideas we've been floating around:

1) Cannacoin giveaway for NWGT

2) Anonymous fundraising for patients

3) Getting NWGT apparel and stickers on the Cannacoin store for people to be able to use CCN to acquire

goodcoin no premine

will look into this one and post updates. 

Thanks for re-opening a new ANN, self-moderated...

Anyone can get updates and ask questions and it will be addressed by the Cannacoin team. 

Cheers,
Patrick

This is a self-moderated topic,nice job.dev.

This is just a relaunch of our ANN that is now self moderated(the other wasnt), things we're getting out of hand over in the old post by trolls.  No relaunch of the coin, we've been live since March 28th :-)

kind of interesting. But there are a couple cannabis coins Already

is this like fifth weed coin? do we really need more of those?

oh, is this a relaunch?