Topic: [ANN] Exclusive Coin - Cryptsy/Bittrex, CAT bot, Loads of News! - page 4. (Read 248548 times)

Priceslide wrote:
kingscrown wrote:
Priceslide wrote:

I find it highly problematic that you have done no explanation as to why the coin will be forked. You are encouraging people to sell at the all time low. literally, "if you don't like it, sell your coins." well, I don't like it, you shouldn't make this change, and I'm not selling.

by the way, I can understand a 10x increase in supply, where everyone gets 9.9 excl and you get the extra .1. create an impromptu development fund. at least everyone will understand what's happening. there's no way that removing 9/10 of the coin supply is going to increase the price by 9x, as it would intuitively on a reliable market.

do not fork the coin this way. I will attempt discussing this further in other avenues as well.



Hey!

Yes the communication was a bit problematic but simple from my side.

Here is what happends/happened:
Cryptsy owns LOADS of coins and dosnt want to withdrawl them.
We will hire full time developer to keep eye on EXCL.

So we face 2 problems:
Exchange dropping LOADS of coins + guy costing a bit of coins.

So out of this.. do you prefer for me to get the coins and pay the guy or Cryptsy to drop on us all?

I sometimes forget to call my reasons clearly and think everybody is on my side. But look on it this way




I don't understand how burning everyone who doesn't put their coins on bittrex or Banx.io is preferable to just burning the craptsy people. It blows hard that they went down, I lost money too. You're not explaining how this solves any problems, just claiming that it does.


Maybe Cryptsy will pay out, but if it doesn't, the healthy option is not to change the total supply of coins.



This fork stinks to high heaven. I'm mostly upset about the change in total coin supply. Why? Are you going to get 9/10ths of the coins, or are your 10EXCL going to be 1EXCL too? It's not clear what is happening. It is vital that you sit down and write a long post about what is happening and why.

Seems like a strange way to do an ICO. Start the coin at 60M and take 1% of the start at 600K, what if only 100,000 coins are sold, the Dev has 600,000 vs 100,000 in supply and burn 28.9M coins. You didn't see this disparity of the 1%? That should have kept you away since now that 1% with 6Million coins is a better percentage. I think I see why it was done that way now.

So KingsCrown deleted twice, once from 60M and again from 29.4, strange all the way around and perfect to give a better percent than 1% to KingsCrown no matter what. I didn't keep track of the amount of the Market Cap when I mined the coin but I will just agree it was around 6Million. Ok now even if there are only 6 Million coin at the start you are agreeing that 36M is the total and once the coin goes PoS this is the total supply going in as that would be the last PoW block.

It doesn't matter that you don't own a huge percentage now. 36M is the proper total to swap from and any discrepancy will be worked out with Cryptsy when they come back online lol. Cryptsy stole the coin not the dev.

You have every right to feel the way you do, but the Dev paid for these coins with the costs of the Swap in order to support it. Seems like you should have asked some questions prior to the swap, like how many coin will the total be instead of assuming it was 15 Million. That would have been the perfect time, but you wanted to keep it quiet so you might get more percentage if less people show up. Not realizing the total coin is the swap since it is going full PoS at that max total coin.  

I offered an idea that really would get your money back and it is a perfect opportunity now too. Just trying to make things work out for you and the coin but I didn't realize it was this complicated all together...

Think about the 49%PoS 2%Dev fund and a Cryptsy Coin held over that could also be burned at a later date. Too late at this point other than an attempt to make the coin successful now. I am sure the New Dev would like to make it work since they have costs involved now.

I was reading through the early posts to find a kingscrown  quote of him confirming or denying that the new total was 36 million and not 60 million. But then I came across this: an original scam accusation lost to the wind. It all makes sense.. the coins were never burned.. now there's proof that kingscrown used a vanity generator to get EXCLRoX and acted like that was the burn address all along.

that's why the devs are all acting like they can just give themselves the burn - they already did.

I guess it makes sense.

damn, I got burned. I guess there's no reason to post here anymore. peace

I will state it clearly and redundantly one more time for those that still don't seem to understand.

This coin "started" as an ICO with 29,400,000 for sale. There was 49% of 60 million ("total coin") available for sale for an ICO. Only 6 million coins were bought in the original ICO. 23.4 million coins were destroyed of the original 49% that was set aside for an ICO. That leaves almost exactly 6 million coins at the "coin start". 6 million coins with a 2% stake rate.

Pay attention, because this is where the 36 million number comes in that you're so desperately clinging to, as if there isn't post history to back up what I'm saying:

The ICO started with a "60 million coin total, of which 49% was set aside for an ICO." that's 29,400,000. 23.4M of this was destroyed. 60 million - 23.4 million leaves "36525660 possible total coins". This was the absolute maximum possible number of coins. 36 Million coins was the absolute maximum number of possible coins to ever be mined/staked in exclusive coin.


15 million coins were in circulation and available for trading/stolen by cryptsy/staking by kingscrown/whatever, when new developers hijacked this coin and took all the 23.4 million coins, that were supposed to be burned, for themselves.

Thank you so much.  I feel like a crazy person sometimes among these...

So which total coin supply total do you agree is right? 60M or 36.65M or 29.4M? Say I am wrong on all accounts you still can't get past a swap at 29.4M total coin then not 15 Million which is the supply number. One of those 3 numbers is correct, safer bet is 36.65M since the burn was used to get that on the OP. Burning from 60M to get to 36M and starting at 49% makes 17M plus 9M is 26M coins circ about 10M more than 15M circ.

If 51% is too much to make the Perpetual PoS market then use 49% and the 2% is the Devs fund and the other coin is held for Cryptsy. This would still allow 1 holder of all the coin to have 51% and it could only be the dev at that point unless they sold their 2%. The fact that the coin was so cheap means anyone even Priceslide could have owned it if everyone dumped to their buys at 1 satoshi being an unstable market. So 51% may be a better scenario but we would imagine that most of the 49% of other coin would be held by different wallets. One wallet in particular would be Bittrex's wallet if everyone just trades the coin. No one really thinks about that.

Using the PoS to create a perpetual market is an Exclusive idea! It is decentralized because the actions can be written to the blockchain and a Bot can be used to place the orders for the PoS. All market trades could be written to the blockchain too and the Median Price can be derived and the percent where the growth coin for PoS is placed on the market can be set. Once the coin is sold the BTC is used to buy products and the wallet PoS fund will then be depleted and stored in product. The merchant wallet will have an action on it set that once coin shows up in that specific wallet that it now goes back on the market at the new median price point at that given time.

All of this can be automated and written to the blockchain for all to see. The only interaction would be ordering products, that is why I think a service would be really good here as part of the economy.

By raising the sells of the 51% PoS we allow Liquidity for investors to compete at the median price. If there is a wall it means the stock of products have been depleted and you shall not pass that point unless you replenish these products! If there is no Sell wall then there is products and if no one chooses to buy the products the price can grow and the new median price is higher for any 51% PoS to accumulate at. This works really nicely!!!

I understand how you are getting the number 15 Million. So why would 60M be subtracted by the Burn to get 36M if you are correct? The circulation number would be 29.4M down to 6 million as you say, 36.65M would never be a part of the equation ever. Do you see the discrepancy now? Why use the burn number 2 times?

So you are saying when KingsCrown used the word CIRCULATION he made up that number 36525660 and then threw it out? This should be called Supply and then 49% of that would have been Circulation of 17M since that is after the burned coin was deleted from 60M to get to 36M. So then you have approx. 17M adding 9 for PoW and 2% etc. leaving 27 million up to the date of the swap which is the worse case scenario I spoke of above.

You don't address why the 60M uses the Burn number and the 29M also uses the Burn number. Why would these totals be derived the way you state? It would either be 29.4M or 36.56M.

So I would think it is closer to 27M which is only about 10M off the total used for the swap. And the total coin "Supply" is either 36M or 29M to swap from and they are very close. So why can't you give the new Dev the benefit of the doubt? Even if the actual coin is 15 Million the new Dev holds none of that coin. The new Dev also agreed to hold coin for Cryptsy and paid out a pool for their mining coin when they didn't make it to Bittrex.

If the New Dev likes my ideas there will be even less coin!

51% of 3.65M is 1,861,500 that will never be sold!!! Leaving 1,788,500 coin in the market or TOTAL SUPPLY! Of which Priceslide had 400K leaving 1,388,500 for everyone else. Even 90K is a good chunk at this point so lets try to get the 5+ BTC back and move forward. Meanwhile just delete the Accusations or at least post that you made snap judgements about the new Dev and we can all read how it got solved and went forward!

No, you don't get it obviously. You don't even understand what's total supply and what's in circulation. The former is a figure out of thin air which may happen somewhere in the distant future or not. The latter is what's available for spending. The coin was started with 29 million of what 23 million was burned. There were 6 million coins in circulation from the start. Add 9 million until the swap time through PoW because PoS was only 2%. You have 15 million. That's the number up for swapping.

You still don't get that there were 29.4 million coins of 36.5 million not 15 million do you? The starting coin is a percentage of 60M which the 23M burn were taken from the 100% of 60M. I agree this is misleading how it is written by all means I would think the same thing at a glance but the same number is used twice.

The coin starts with 60 Million Dev fund of that is 1% or 600,000. 60M is the total coin. Now the ICO is subtracted... 60Mil minus 23Mil equaling the 36Mil in circulation as it stated and starting coin at 49% of 60Mil equals 29.4Mil. So what Priceslide did was Burn the 23Mil Again to go from 29.4Mil down to 5.6 Million coin total. So there was never a starting total of 5.6 Million to then go up to 15 Million. Even if we took the 36 Million and figured he said 49% of that it is 17.6 Million to start with, adding 9.4 Million PoW coin is 27 Million so even in that worse case scenario it is almost double what Priceslide thought.

Adding the 9.4M to 29.4M gives a closer output at 38.8M to the 36M stated in the OP. So a simple total of coins would be to just go with the Statement of the 36,525,660 and do the swap from there down to 1:10.

Priceslide thought he owned a better percentage of the actual coin... I think he is mistaken and was no fault of his own because of the way the OP was worded. Think about it... Why would the 60Mil initial total, Burn down to 36.5Mil and then use that same Burn number to Burn again down to 5.6Mil from the starting coin of 49% at 29.4Mil?

You still don't get there were ~15 million coins in circulation at the swap time, do you? Not 36 million, not 60 million or whatever. That's what had to be exchanged and nothing more. The new chain was to be started with 1.5 million coins after 10:1 exchange. It didn't.

Total supply: ~60,000,000 (60MM)
[60000000 - 23474339.7208 = 36525660 actual total numer of coins in circulation]
Algorithm: x11 (POW)
PoS: 2% a year
Coins start: 49% of coins [approx 29400000 of which 23474339.7208 got destoryed]

60,000,000 Minus 23,474,339.7208=36,525,660.2792 and 29,400,000 of that were available.

The same number used to delete from 60Mil to get to 36Mil is 23,474,339.7208 which Got Destroyed or Destoryed as the typo puts it and that is the end of Story! He is saying the coins start at 29,400,000 and the language barrier made a misrepresentation. Hope you see this now, it is basic math. 60M goes to 29M as 49% the 23M is the burn which equals 36Mil as the Circulation number.

60M-23MBurn=36M Circulation
60M-49%=29.4M Starting coin (Of Which is a misrepresentation or he would be saying he burned 2 Times)

Delete the accusations now, you had 5 months to ask questions but never did, and never took over the coin yourself.

Yeah I was the one buying up to support the coin pretty exciting!

It just went PoS, PoW was stopped by the New Dev, at that point you had to understand at the Swap there were going to be 36 million coin.

You leave out the 60Million coin. Why is there not 60 Million coin? Because it was burned as 49% of the coin for the ICO. Why would the Total coin be 60 Million to start and then suddenly go to 29,400,00? What sense does it make to Start at 60 Million and then get 29,400,000 and then burn again down to 6 Million coin? I think you may have misunderstood the post Kingscrown made. There may have been 29,400,000 coin for all you know.

60Mil to get to 29Mil to get to 6Mil where you believe the coin started at. This is the discrepancy I see that makes no sense.

The total coin is 36M and was always the total coin and you were told 5 months prior that it would be swapped down 10:1 from that total. I think if anything now this is actually cleared up and you still had a large stake in the coin, if it goes up you get paid back.

5+ BTC is half what it cost to run the coin. I am talking about paying for the costs of the coin to keep it alive and the Dev needs to be paid for that. If the new Dev has no coin since you hold it all or he swaps as you wanted and only took the coin that made it to Bittrex as the total amount of coin, the new Dev would have to buy coin just to sell coin to make the costs of operation and development. You are not taking that into account.

Yes the coin can be watched openly that is why there is a ledger. If the coin moves or more PoS is sold than what was agreed to then the coin fails what was set out. If the 51% are used to buy products that other people buy the price will go up and you can get your 5+ BTC out. It would be very easy to accomplish that. But not with you spamming scam and causing issues.

By writing the info to the Blockchain and using that info to place products for sale everyone can know the Inventory. It is a check and balance. I am taking the extra time to explain this so you can have a chance to get your investment back. The addresses would be public and everything would be open and at that point you would see that all is well or that the Dev didn't hold up to the bargain. That simple. At that point the Action of the Dev could be called out and it would be obvious.

JUST BE GLAD THAT HE DIDN'T MAKE MORE COINS OUT OF NOTHING YOU SAY.  JUST BE GLAD IT'S 36M INSTEAD OF 60M LIKE IT COULD HAVE BEEN YOU SAY.


this coin is not the failed paperclip experiment, and there is no product on earth you could try to sell me that would make me want to invest in a scam in order to purchase that product. I'm done with you.  you're as brain dead as the rest of them but you actually graduated high school or something. good luck with your failed endeavors.

The coin wasn't dead. it was literally on the verge of pumping. the market was responding to the constriction of coins.

the Developer giving themselves 51% in a PoS coin is a death knell for the coin. No one in their right mind would buy something they know is subject to the whims and fancies of kingscrown/team. At any time the development team can give themselves more coin, why would anyone trust them now? -that's the point of crypto. trustless. There's no way you can prove that the coins won't be spent/dumped on the market.

we do not all agree that the dev "needs to be paid". the silence from the development accounts was for months at a time. coming in to 'save the day' now is total bullshit.




You are becoming increasingly dense as this conversation continues, so I intend for this to be my last post addressing you. PoW was ended by kingscrown for the swap.

[36525660 actual total numer of coins in circulation]
Algorithm: x11 (POW)
PoS: 2% a year
Coins start: 49% of coins [approx 29400000 of which 23474339.7208 got destoryed]

There was a ~6,000,000 coin start. according to this thread and the one you linked. There was an ICO and a burn for this coin, which originally gave this coin value. That burn that was meant to represent original investment has now been turned into dev coins.

no more than 10million coins were mined, use your brain, there was only a 2% a year stake rate.

I had 33% of the total available coin, not counting the coin held by cryptsy or kingscrown. I bought it fair and square from other people dumping. I want a 5+ BTC compensation.

Ultimately you do know PoW ended... The total coin at the end of PoW is the 36 Million. No way around it but I hope there can be a reconciliation or a way that you can get back into the coin as EXCL grows and make your money back.

PriceSlide,

https://archive.litecointalk.org/index.php?topic=21908.0

I found an old post that was created by KingsCrown it says 36Mil in circulation. The forum is now read only so unless someone hacked it just to change that number... lol

I think you were confused about the total being 60Mil and then they burned the ICO down to 36 Mil and that makes the Dev fund 2% instead of 1% so you got a real gripe now on the original dev. It also says 2% PoS so there would actually be more coin and may actually be based on 60Mil making it 4%. Another Gripe you may have now but then again you already got paid out on the PoS if it were 4% so you won't mention it, just the 2% Kingscrown took. And you see that is based on 60Mil so just be glad it isn't 60Mil instead of 36Mil. And even if the Swap isn't necessary in your opinion, it is still the same percentage of coin.

But as far as the current Dev goes they went by the rules of the coin. Delete the threads and accusations now.

My ideas for the coin actually follow right along with the initial idea of the coin. So it would be the first self perpetuating market ever created. The fact that the coin must be placed at a specific Sell means it either grows or slows (it may have to relate to the price of BitCoin though but that can be written into the Blockchain and a Bot can change the price and update). And all transactions would be public knowledge and written to the blockchain like a ledger to add up and account for every PoS that the 51% made. It really would show that the Dev can not fake anyone out. Instead of an Auction the products can be 51% of the retail price. Knowing that there is mark up there is wiggle room down to 20% loss on some products but it is still a bargain for people to attract buyers of the coin.

Anyone selling their coin for a lower price are giving people an even better deal on products at 51%. As the price of EXCL goes up it takes less EXCL to buy the product that was bought at a lower value too but that same coin gets placed 10x higher so it won't buy products until it is sold at the higher price to recoup against the lower sell initially. It is like the buy in recoups the price and allows a new purchase to sell at a loss but in hopes it brings more buys in to then buy out the new position.

This is reminiscent of the 1 Red Paper Clip experiment where someone traded a Paper Clip for an Item and then traded that item for another item but instead we will be trading EXCL for items to entice people to use their BitCoin to come in to the market and participate. It will grow and be rare enough to boost fast just to meet a better market cap to buy items with.

So you may want to get back in now and hope the price slides in your favor. The community would be able to support these ideas and find creative ways to implement them.

51% would become part of the coin and never sold. Only the PoS that is created could be sold and that becomes a part of the market to be bought and sold later, or products to be bought and sold at 51% off. You will be mad because the Dev can keep 51% of the coin that is sold right even though the product cost 100% to that same PoS coin.

51% would be made to protect the coin. It has nothing to do with the Dev and would be integrated as a function which would cause less coin on the market and boost your percentage of what you didn't dump. Coin becomes more rare. But you wouldn't be happy because the Dev owns more than you I really get it. Just slander away!

I hope you realize that even 14 Million coin at what the price was before the swap at 245 satoshis it is only 34 Bitcoin Marketcap or $20,000. There was only .7 Bitcoin on the buy side less than 1 BTC of liquidity. All was lost already.

So instead of building something from Zero and taking a smaller percentage you want to slander someones efforts to save it.

The coin was Mined and those people profited from it and left. But you are mad at the Dev for trying to solve a problem and using extra coin to be a primary share holder, that doesn't make a scam or a thief when they paid to save the coin. You didn't pay to save it you paid to profit from it and want to keep a controlling interest. Why the hell didn't you buy the coin out and take it over? It would have taken about 10 Bitcoin to take over and that is to save 34 bitcoin at the current level. About a third which was what you owned. You must have felt trapped but why not ask for a take over?

If you ask the dev I am sure they will hold coin for Cryptsy users too. Because there is no scam the dev just has to move forward.

Go ahead slander away, I won't be responding anymore... Go make a PriceSlide coin.

But how does a new Dev make ends meet?

By scamming his own coin to shit!

Having the developer have 51% of the coin is a 51% attack. He can just give himself more coins whenever he feels like it and no one can do anything. This coin has been scammed to death

The 51% would still be Decentralized and would never be sold. This would be part of the coin forever, meant to protect the coin and create a service that benefits users of the coin! Locked in as part of the coin period. The PoS could go to buy products for sale at 51% to create buys on the market since you have to own EXCL to buy the products. Anyone who currently owns the coin could buy and sell out or they could see that the coin can only increase in price since there is less coin available to buy these products with. If true investors Hold then they get to watch the prices go up and up.

If EXCL can take the market buys and sells and figure out a Median Price point automatically, or actually it works better if we get that price point and then put it at 10x above as a Sell Wall then Liquidity can happen below that point or at the actual Median Price point. Then if the economy wants to grow it surpasses the new median price point and once it does, all of the new PoS generated will post at 10x of that new point regardless of what BitCoin is at.

This will prove out upper limits of utility and allow the times when the coin is not strong against bitcoin to stabilize the investors if they need liquidity. Or there could be a multiplier and the PoS could be scattered through the Sells at current prices also. Then it always maintains and supports equally. I just like the Top end better since it steps out of the way of investors but allows the economy to grow if that is the will of the coin and participants.

Is there a service that we could create that this PoS fund could go to support? Cloud hosting? I don't know you tell me. This is where we make it work now...

If users get to buy products at 51% from this PoS fund they get back 49% in profits and are the ones taking advantage of the PoS. It creates a buy on the market! The PoS would become the Dev's profit though once the coins are sold, and the other 23% could be set aside for Cryptsy users to divide up or what have you.

I am just putting ideas out there, we all agree the Dev needs to be paid for the work and successful venture!