Topic: [ANN] FedoraCoin (TiPS) - New Dev team: Fedoracoin Foundation - page 19. (Read 111289 times)
If possible I prefer 1-5 swap because the circulating supply will reduce from 212 Billion to 42 B and the total supply from 482 B to 96 B (less the 100 B).
Here some examples of coins with more than 42 B of circulating supply with the price on BTC markets in this moment in wich the market is so depressed.
KIN KIN 0,00000002 BTC 756.097.560.976
Dentacoin DCN 0,00000005 BTC 325.226.613.094
Bytecoin BCN 0,00000037 BTC 183.890.481.254
Holo HOT 0,00000011 BTC 133.214.575.156
Nexty NTY 0,00000006 BTC 104.707.875.797
Pundi X NPXS 0,00000036 BTC 87.487.145.429
Silent Notary SNTR 0,00000001 BTC 83.052.191.711
HTMLCOIN HTML 0,00000003 BTC 52.292.389.428
With the next adoption by the masses of the cryptos (shortly, i think) the price will increase and it will be necessary a fairly high number of coins in order to have a "reasonable" purchase price (0.01$ - 0.02$), therefore 1-5 swap can be a good ratio.
At today's price ($ 0.000010) with this ratio (1-5, at least in the first cycle) it will be difficult to lose value after the swap.
If the swap is done by an exchange (eg: coinexchange), at least in the first cycle, in wich transfer all the coins (voluntary), the procedure will be simplified also for "non-tech people".
P.M.
Here some examples of coins with more than 42 B of circulating supply with the price on BTC markets in this moment in wich the market is so depressed.
KIN KIN 0,00000002 BTC 756.097.560.976
Dentacoin DCN 0,00000005 BTC 325.226.613.094
Bytecoin BCN 0,00000037 BTC 183.890.481.254
Holo HOT 0,00000011 BTC 133.214.575.156
Nexty NTY 0,00000006 BTC 104.707.875.797
Pundi X NPXS 0,00000036 BTC 87.487.145.429
Silent Notary SNTR 0,00000001 BTC 83.052.191.711
HTMLCOIN HTML 0,00000003 BTC 52.292.389.428
With the next adoption by the masses of the cryptos (shortly, i think) the price will increase and it will be necessary a fairly high number of coins in order to have a "reasonable" purchase price (0.01$ - 0.02$), therefore 1-5 swap can be a good ratio.
At today's price ($ 0.000010) with this ratio (1-5, at least in the first cycle) it will be difficult to lose value after the swap.
If the swap is done by an exchange (eg: coinexchange), at least in the first cycle, in wich transfer all the coins (voluntary), the procedure will be simplified also for "non-tech people".
P.M.
Hi Maprofit!
Thank you very much - really helpful feedback! We are definitely proposing a reduced supply. Initial thinking was 10:1 but 5:1 could also work. As it's still in planning we are just looking for as much feedback as possible right now so thanks again!
The Ticker
There has also been discussion in other channels about the Fedora Ticker. Some people have asked that we stay on the existing ticker (TIPS). Other people like us moving to a new ticker (TIP).
The main impact of the ticker decision relates to exchange trading: if we go to a new ticker (TIP) then the legacy TIPS will probably remain on some exchanges for trading (Altilly, Nova). Other exchanges (Coinexchange is confirmed) will only keep the new Fedora coin, whatever we call it, so ticker name is irrelevant in that case.
We are yet to receive feedback from Gate, but they are a very busy exchange.
Important: Ticker name won't affect the operation of the legacy chain for anybody who doesn't want to swap. It just has potential impact for how the coins are treated by some exchanges. Would love to know people's thoughts.
Cheers,
Robots.
go for the whole cutlet.. 
Hi all.
The project team have been studying the market situation for Tips and also the issues with the legacy Tips technology. After a lot of research we recommend a change of direction for the Fedora technology. We are sharing our thoughts to get your feedback.
- In spite of the work we’ve done, TIPS (in it's current form) has reached it’s limits – for a range of reasons, but community sentiment & price bears that out.
- Tips price is vulnerable. We achieved solid growth for several months following the relaunch in March, even against the wider crypto market drops. But this has been challenged by large amounts of selling that are beyond our control.
- We want to grow value, improve usability and continue building on the roadmap we developed
- To achieve these goals we need better tech
We propose to build a new Fedora coin (we call it TIP) that addresses all these concerns.
- This will NOT be a hard fork - we propose a voluntary swap
- Swap rate for TIPS -> TIP to be determined still, but probably something like 10:1 or 25:1
- Moving from TIPS -> TIP will be ENTIRELY voluntary
- The swap will be long term - possibly no end date at all so people can wait & see: if the NEW Tip gains value, you can switch from Tips anytime to TIP. If it doesn't, you can hodl your Tips and ignore TIP
- We will CONTINUE support for legacy TIPS
What will the new TIP look like?
- Private: The new Fedora Tip will provide full PRIVACY features, which will be optional
- Even faster: The current Tips usually confirms in about 3 minutes. The new Tip will be at least half that speed, possibly faster (we are researching at the moment)
- Mining for All: No ASIC mining - our planned tech stack will ONLY support small scale mining - CPU's, desktop wallets, etc.
- Mobile: We expect to have a mobile wallet far sooner with the tech we are working on for the new Tip
- When: Time for starting the swap is likely 4 to 6 weeks away. We don't have a planned end date and may keep it open indefinitely.
We would love to hear what your thoughts are. Please share any questions/concerns/ideas that you might have.
Cheers!
Robots.
The project team have been studying the market situation for Tips and also the issues with the legacy Tips technology. After a lot of research we recommend a change of direction for the Fedora technology. We are sharing our thoughts to get your feedback.
- In spite of the work we’ve done, TIPS (in it's current form) has reached it’s limits – for a range of reasons, but community sentiment & price bears that out.
- Tips price is vulnerable. We achieved solid growth for several months following the relaunch in March, even against the wider crypto market drops. But this has been challenged by large amounts of selling that are beyond our control.
- We want to grow value, improve usability and continue building on the roadmap we developed
- To achieve these goals we need better tech
We propose to build a new Fedora coin (we call it TIP) that addresses all these concerns.
- This will NOT be a hard fork - we propose a voluntary swap
- Swap rate for TIPS -> TIP to be determined still, but probably something like 10:1 or 25:1
- Moving from TIPS -> TIP will be ENTIRELY voluntary
- The swap will be long term - possibly no end date at all so people can wait & see: if the NEW Tip gains value, you can switch from Tips anytime to TIP. If it doesn't, you can hodl your Tips and ignore TIP
- We will CONTINUE support for legacy TIPS
What will the new TIP look like?
- Private: The new Fedora Tip will provide full PRIVACY features, which will be optional
- Even faster: The current Tips usually confirms in about 3 minutes. The new Tip will be at least half that speed, possibly faster (we are researching at the moment)
- Mining for All: No ASIC mining - our planned tech stack will ONLY support small scale mining - CPU's, desktop wallets, etc.
- Mobile: We expect to have a mobile wallet far sooner with the tech we are working on for the new Tip
- When: Time for starting the swap is likely 4 to 6 weeks away. We don't have a planned end date and may keep it open indefinitely.
We would love to hear what your thoughts are. Please share any questions/concerns/ideas that you might have.
Cheers!
Robots.
I do not agree swap or hard fork ,It will lost value，Such as paccoin and mooncoin
Hi there,
Thanks very much for your concern! In this situation the entire reason we propose to swap is because of the low tips value! Fedora is completely at the mercy of ASIC mining and constantly gets hammered in the market.
Our plan is intended to give power back to individual holders and CPU miners - the algorithm guarantees that.
Tips has gotten so low because ordinary people can't trade it with confidence any more. We plan to change that.
Best!
Robots
Tips value is not low,It already increased 100 times,Long investment is necessary.
If possible I prefer 1-5 swap because the circulating supply will reduce from 212 Billion to 42 B and the total supply from 482 B to 96 B (less the 100 B).
Here some examples of coins with more than 42 B of circulating supply with the price on BTC markets in this moment in wich the market is so depressed.
KIN KIN 0,00000002 BTC 756.097.560.976
Dentacoin DCN 0,00000005 BTC 325.226.613.094
Bytecoin BCN 0,00000037 BTC 183.890.481.254
Holo HOT 0,00000011 BTC 133.214.575.156
Nexty NTY 0,00000006 BTC 104.707.875.797
Pundi X NPXS 0,00000036 BTC 87.487.145.429
Silent Notary SNTR 0,00000001 BTC 83.052.191.711
HTMLCOIN HTML 0,00000003 BTC 52.292.389.428
With the next adoption by the masses of the cryptos (shortly, i think) the price will increase and it will be necessary a fairly high number of coins in order to have a "reasonable" purchase price (0.01$ - 0.02$), therefore 1-5 swap can be a good ratio.
At today's price ($ 0.000010) with this ratio (1-5, at least in the first cycle) it will be difficult to lose value after the swap.
If the swap is done by an exchange (eg: coinexchange), at least in the first cycle, in wich transfer all the coins (voluntary), the procedure will be simplified also for "non-tech people".
P.M.
Here some examples of coins with more than 42 B of circulating supply with the price on BTC markets in this moment in wich the market is so depressed.
KIN KIN 0,00000002 BTC 756.097.560.976
Dentacoin DCN 0,00000005 BTC 325.226.613.094
Bytecoin BCN 0,00000037 BTC 183.890.481.254
Holo HOT 0,00000011 BTC 133.214.575.156
Nexty NTY 0,00000006 BTC 104.707.875.797
Pundi X NPXS 0,00000036 BTC 87.487.145.429
Silent Notary SNTR 0,00000001 BTC 83.052.191.711
HTMLCOIN HTML 0,00000003 BTC 52.292.389.428
With the next adoption by the masses of the cryptos (shortly, i think) the price will increase and it will be necessary a fairly high number of coins in order to have a "reasonable" purchase price (0.01$ - 0.02$), therefore 1-5 swap can be a good ratio.
At today's price ($ 0.000010) with this ratio (1-5, at least in the first cycle) it will be difficult to lose value after the swap.
If the swap is done by an exchange (eg: coinexchange), at least in the first cycle, in wich transfer all the coins (voluntary), the procedure will be simplified also for "non-tech people".
P.M.
Also need to reduce future block rewards, to bigger ammount than swap ratio as reduce inflation.
BTW Bitmain has CN miner - X3
Antminer E9+ with
Power adapter included
Hash Rate: 2970 !! MH +-5%
Power Consumption: 1400w using Bitmain APW3 1600W
Rated Voltage: 11.60 ~13.00V
Dimensions: 402 mm(L) x 135mm(W) x 350mm(H)
Weight: 13.5kg
Noise: 77 dB
Network Connection: Ethernet
Hashing algorithm: Ethash
Thats ETH miner, not CN
If possible I prefer 1-5 swap because the circulating supply will reduce from 212 Billion to 42 B and the total supply from 482 B to 96 B (less the 100 B).
Here some examples of coins with more than 42 B of circulating supply with the price on BTC markets in this moment in wich the market is so depressed.
KIN KIN 0,00000002 BTC 756.097.560.976
Dentacoin DCN 0,00000005 BTC 325.226.613.094
Bytecoin BCN 0,00000037 BTC 183.890.481.254
Holo HOT 0,00000011 BTC 133.214.575.156
Nexty NTY 0,00000006 BTC 104.707.875.797
Pundi X NPXS 0,00000036 BTC 87.487.145.429
Silent Notary SNTR 0,00000001 BTC 83.052.191.711
HTMLCOIN HTML 0,00000003 BTC 52.292.389.428
With the next adoption by the masses of the cryptos (shortly, i think) the price will increase and it will be necessary a fairly high number of coins in order to have a "reasonable" purchase price (0.01$ - 0.02$), therefore 1-5 swap can be a good ratio.
At today's price ($ 0.000010) with this ratio (1-5, at least in the first cycle) it will be difficult to lose value after the swap.
If the swap is done by an exchange (eg: coinexchange), at least in the first cycle, in wich transfer all the coins (voluntary), the procedure will be simplified also for "non-tech people".
P.M.
Here some examples of coins with more than 42 B of circulating supply with the price on BTC markets in this moment in wich the market is so depressed.
KIN KIN 0,00000002 BTC 756.097.560.976
Dentacoin DCN 0,00000005 BTC 325.226.613.094
Bytecoin BCN 0,00000037 BTC 183.890.481.254
Holo HOT 0,00000011 BTC 133.214.575.156
Nexty NTY 0,00000006 BTC 104.707.875.797
Pundi X NPXS 0,00000036 BTC 87.487.145.429
Silent Notary SNTR 0,00000001 BTC 83.052.191.711
HTMLCOIN HTML 0,00000003 BTC 52.292.389.428
With the next adoption by the masses of the cryptos (shortly, i think) the price will increase and it will be necessary a fairly high number of coins in order to have a "reasonable" purchase price (0.01$ - 0.02$), therefore 1-5 swap can be a good ratio.
At today's price ($ 0.000010) with this ratio (1-5, at least in the first cycle) it will be difficult to lose value after the swap.
If the swap is done by an exchange (eg: coinexchange), at least in the first cycle, in wich transfer all the coins (voluntary), the procedure will be simplified also for "non-tech people".
P.M.
BTW Bitmain has CN miner - X3
Antminer E9+ with
Power adapter included
Hash Rate: 2970 !! MH +-5%
Power Consumption: 1400w using Bitmain APW3 1600W
Rated Voltage: 11.60 ~13.00V
Dimensions: 402 mm(L) x 135mm(W) x 350mm(H)
Weight: 13.5kg
Noise: 77 dB
Network Connection: Ethernet
Hashing algorithm: Ethash
To provide a counter argument on the 1-1 swap.
I understand that many projects have lost value when price stayed the same, with a supply reduction. On the other hand, with our current supply we'll never get on any BTC markets. In order to truly gain volume and grow, we need to reduce the supply sufficiently to get on the BTC markets.
I understand that many projects have lost value when price stayed the same, with a supply reduction. On the other hand, with our current supply we'll never get on any BTC markets. In order to truly gain volume and grow, we need to reduce the supply sufficiently to get on the BTC markets.
Hi Delphinus,
Thanks, that's exactly what we were thinking too! Fedora needs to get out into the open water, we agree that this is the best chance of that
I want to emphasize that we're in it for the long haul! We still have a lot of the roadmap to build, particularly all the real world tipping functions.
Hey my uber driver the other day was asking about crypto, I got to talking about Tips and he loved the idea!! He wants an app for his smart watch with a QR code and balance tracker! I think the potential market for Fedora is huge - we just want to be ready for it.
Cheers,
Robots
BTW Bitmain has CN miner - X3
To provide a counter argument on the 1-1 swap.
I understand that many projects have lost value when price stayed the same, with a supply reduction. On the other hand, with our current supply we'll never get on any BTC markets. In order to truly gain volume and grow, we need to reduce the supply sufficiently to get on the BTC markets.
I understand that many projects have lost value when price stayed the same, with a supply reduction. On the other hand, with our current supply we'll never get on any BTC markets. In order to truly gain volume and grow, we need to reduce the supply sufficiently to get on the BTC markets.
Hi Robots,
My feedback is the following:
- I'm afraid that high block rewards will result in dumping and inflation, so I wouldn't make them to large
- My preference is Ethereum tokens, since we don't have to worry about miners, inflation or attacks. However, this only works with an unique business case. Otherwise there are to many other tokens to compete with. Is the new tipping system unique enough and would it work on ETH? Otherwise, we indeed need our own chain.
- Consider a swap similar to FUNK/SONIQ, where the new amount is fixed (ie. 500 million) and you get a share respective to what is burned. It's a voluntary burn, but the burn itself will be "your share of TIPS burned / TIP supply"
Either way, I'll leave in completely in your hands, since you're the one doing all the actual work !
Hi Delphinus,
Thank you very much for your feedback! As you can see, it's early days right now and we are still trying to get as much community feedback as possible
Really like your ideas, particularly with the burning. We have been kicking around a range of suggestions regarding that. Another thought we're considering is what to do with pre-mined new TIP coins that are not taken up in the swap. One option is a mix of burning & airdrops, to both reduce supply and share with the community. But it's still all in the mix at the moment.
Cheers,
Robots.
Yes. Swap must be with 1:1 ratio, and it must be automated (on exchange) as we loose money if the ratio is higher. We don't need anymore such swaps which has higher ratio
What mechanism or procedure would be used to confirm that swapped old TIPS are burned, assuming they are burned?
Hi Cryptoid,
Thanks for the feedback! We are still developing it but we will share the burn algorithm before any action takes place so that people can study it and be confident. At this stage we are sharing ideas with the community.
All the best
Robots
Better but is that enough for future use , and have you thought of staking ?
Maybe a good idea , since a lot of coins have been mined already ! And as an incentive to leave your wallet open and for lower impact on the environment...
Block time is 1 min. And faster in new TIP
Maybe a good idea , since a lot of coins have been mined already ! And as an incentive to leave your wallet open and for lower impact on the environment...
Best news I have heard since a long time !
Great new ideas and must say the voluntary swap is Genius !
However the block time needs to be faster than three minutes !
I you want to “ play “ with the big boys you need confirmations in seconds , not sure if that is even possible but see there are coins that are there already !
Also the fact that ASIC mining is over is a good thing I think ....
Great work all you guys and keep up the good work !
Great new ideas and must say the voluntary swap is Genius !
However the block time needs to be faster than three minutes !
I you want to “ play “ with the big boys you need confirmations in seconds , not sure if that is even possible but see there are coins that are there already !
Also the fact that ASIC mining is over is a good thing I think ....
Great work all you guys and keep up the good work !
Block time is 1 min. And faster in new TIP
What mechanism or procedure would be used to confirm that swapped old TIPS are burned, assuming they are burned?
Hi Cryptoid,
Thanks for the feedback! We are still developing it but we will share the burn algorithm before any action takes place so that people can study it and be confident. At this stage we are sharing ideas with the community.
All the best
Robots
Hi all.
The project team have been studying the market situation for Tips and also the issues with the legacy Tips technology. After a lot of research we recommend a change of direction for the Fedora technology. We are sharing our thoughts to get your feedback.
- In spite of the work we’ve done, TIPS (in it's current form) has reached it’s limits – for a range of reasons, but community sentiment & price bears that out.
- Tips price is vulnerable. We achieved solid growth for several months following the relaunch in March, even against the wider crypto market drops. But this has been challenged by large amounts of selling that are beyond our control.
- We want to grow value, improve usability and continue building on the roadmap we developed
- To achieve these goals we need better tech
We propose to build a new Fedora coin (we call it TIP) that addresses all these concerns.
- This will NOT be a hard fork - we propose a voluntary swap
- Swap rate for TIPS -> TIP to be determined still, but probably something like 10:1 or 25:1
- Moving from TIPS -> TIP will be ENTIRELY voluntary
- The swap will be long term - possibly no end date at all so people can wait & see: if the NEW Tip gains value, you can switch from Tips anytime to TIP. If it doesn't, you can hodl your Tips and ignore TIP
- We will CONTINUE support for legacy TIPS
What will the new TIP look like?
- Private: The new Fedora Tip will provide full PRIVACY features, which will be optional
- Even faster: The current Tips usually confirms in about 3 minutes. The new Tip will be at least half that speed, possibly faster (we are researching at the moment)
- Mining for All: No ASIC mining - our planned tech stack will ONLY support small scale mining - CPU's, desktop wallets, etc.
- Mobile: We expect to have a mobile wallet far sooner with the tech we are working on for the new Tip
- When: Time for starting the swap is likely 4 to 6 weeks away. We don't have a planned end date and may keep it open indefinitely.
We would love to hear what your thoughts are. Please share any questions/concerns/ideas that you might have.
Cheers!
Robots.
The project team have been studying the market situation for Tips and also the issues with the legacy Tips technology. After a lot of research we recommend a change of direction for the Fedora technology. We are sharing our thoughts to get your feedback.
- In spite of the work we’ve done, TIPS (in it's current form) has reached it’s limits – for a range of reasons, but community sentiment & price bears that out.
- Tips price is vulnerable. We achieved solid growth for several months following the relaunch in March, even against the wider crypto market drops. But this has been challenged by large amounts of selling that are beyond our control.
- We want to grow value, improve usability and continue building on the roadmap we developed
- To achieve these goals we need better tech
We propose to build a new Fedora coin (we call it TIP) that addresses all these concerns.
- This will NOT be a hard fork - we propose a voluntary swap
- Swap rate for TIPS -> TIP to be determined still, but probably something like 10:1 or 25:1
- Moving from TIPS -> TIP will be ENTIRELY voluntary
- The swap will be long term - possibly no end date at all so people can wait & see: if the NEW Tip gains value, you can switch from Tips anytime to TIP. If it doesn't, you can hodl your Tips and ignore TIP
- We will CONTINUE support for legacy TIPS
What will the new TIP look like?
- Private: The new Fedora Tip will provide full PRIVACY features, which will be optional
- Even faster: The current Tips usually confirms in about 3 minutes. The new Tip will be at least half that speed, possibly faster (we are researching at the moment)
- Mining for All: No ASIC mining - our planned tech stack will ONLY support small scale mining - CPU's, desktop wallets, etc.
- Mobile: We expect to have a mobile wallet far sooner with the tech we are working on for the new Tip
- When: Time for starting the swap is likely 4 to 6 weeks away. We don't have a planned end date and may keep it open indefinitely.
We would love to hear what your thoughts are. Please share any questions/concerns/ideas that you might have.
Cheers!
Robots.
Hi Robots,
My feedback is the following:
- I'm afraid that high block rewards will result in dumping and inflation, so I wouldn't make them to large
- My preference is Ethereum tokens, since we don't have to worry about miners, inflation or attacks. However, this only works with an unique business case. Otherwise there are to many other tokens to compete with. Is the new tipping system unique enough and would it work on ETH? Otherwise, we indeed need our own chain.
- Consider a swap similar to FUNK/SONIQ, where the new amount is fixed (ie. 500 million) and you get a share respective to what is burned. It's a voluntary burn, but the burn itself will be "your share of TIPS burned / TIP supply"
Either way, I'll leave in completely in your hands, since you're the one doing all the actual work !
Thanks very much for your concern! In this situation the entire reason we propose to swap is because of the low tips value! Fedora is completely at the mercy of ASIC mining and constantly gets hammered in the market.
Our plan is intended to give power back to individual holders and CPU miners - the algorithm guarantees that.
Tips has gotten so low because ordinary people can't trade it with confidence any more. We plan to change that.
Our plan is intended to give power back to individual holders and CPU miners - the algorithm guarantees that.
Tips has gotten so low because ordinary people can't trade it with confidence any more. We plan to change that.
Please do not get me wrong, I am not opposing your plans in any way. As long there is no hasty swap-within-3-days-or-lose-all and unlisting of the current POW TIPS from exchanges I am all fine and very thankful for the hard work you all put into Fedoracoin!
But I do not agree with the reasoning you give for TIPS' seemingly low price. IMO we are (again) just at the end of a very bearish season/cycle and ALTs seem to follow BTC with some delay (upwards and downwards). TIPS like many other will most probably pump again, possibly even to new ATHs later this year or early 2019 like many other coins also will.
As for cpu-mineable algos: That works as long as nobody cares about TIPS, but once marketcap shoots up, Bitmain will have their mining-toasters ready within a few months for whatever algos you might fancy. Based on past experiences with coins that thought they had ASIC-resistant algos, the fact that there will be ASICS at some point has either to be swallowed or you need to fork to a new ASIC-resistant algo du-jour every few months. One could even go as far as saying that buying a L3+ for ~$250 is way more affordable than buying a high-end state-of-the-art PC for cpu-mining at ~$1500. And yes, with a single L3+ you can still solo mine on TIPS.
Personally my biggest concern is that TIPS in its current state will give 50k block-reward until eternity with no halving scheduled, so it can't ever become scarce, right now this is IMO the largest obstacle for a steady price / marketcap growth.
Again, I do appreciate your efforts a lot and I welcome any development on TIPS.
Cheers - psycodad
Ditto that. Although I'm neutral on the swap, I'm concerned a lot of effort will go into the "TIP" swap and wallet with little reward, particularly for those putting the work into it, i.e. the current devs. At least consider some less drastic alternatives. A swap is typically a lot of work.
Looking down the road a year or two, I would hate to see TIPS/"TIP" abandoned again because of little to no profit for those who are putting the time and effort into it.
Hi Psycodad & Cryptoid!
Thanks for your kind words. I hope you don't mind me replying to you both at the same time but I thought it might help to address both comments at once.
Totally understand about the concerns - firstly our proposal (and it's only at the proposal stage) is that the swap is entirely voluntary. Also, we would do it over something like 6 months, in three cycles of one month each. The current thinking (still just a proposal) is:
Cycle 1: 10 to 1 Old/New
Cycle 2: 10 to 1 Old/New
Cycle 3: 25 to 1 Old/New
We have 1 or 2 months between each cycle. I'm suggesting we keep the same swap rate for the 2nd cycle to help make sure people don't miss out. In an ideal world, we will do the swap, and our price will go up. That will get the attention of a lot of people, and possibly existing old Tips holders who have not been reached by us yet. Keeping the second swap cycle at the same rate is a goodwill gesture to ensure people hearing late aren't discriminated against. We are also thinking of airdropping each cycle, with rates diminishing with each round.
In terms of the price - we genuinely believe that it's a result of more than just system wide conditions. When we relaunched in March, markets were very low and yet each relaunch deliverable gave us steady growth for about 2 months, right through the crypto winter. In fact Tips only started dropping significantly when the system wide trend was gradual growth again!
So we're fairly certain that Legacy Tips needs better tech if it's going to deliver growth to the holders who have had the faith to invest, and we are very happy to do that work.
It's entirely possible that Bitmain will respond with a targeted miner for CryptoNight, but we are ready to change the algorithm as required. We genuinely appreciate everyone's thoughts that this may be a bit of work but we have a long term roadmap for Fedora - we're in it for the long haul and happy to do the work!
Thanks again for sharing, please keep chatting!
Cheers,
Robots.
Thanks very much for your concern! In this situation the entire reason we propose to swap is because of the low tips value! Fedora is completely at the mercy of ASIC mining and constantly gets hammered in the market.
Our plan is intended to give power back to individual holders and CPU miners - the algorithm guarantees that.
Tips has gotten so low because ordinary people can't trade it with confidence any more. We plan to change that.
Our plan is intended to give power back to individual holders and CPU miners - the algorithm guarantees that.
Tips has gotten so low because ordinary people can't trade it with confidence any more. We plan to change that.
Please do not get me wrong, I am not opposing your plans in any way. As long there is no hasty swap-within-3-days-or-lose-all and unlisting of the current POW TIPS from exchanges I am all fine and very thankful for the hard work you all put into Fedoracoin!
But I do not agree with the reasoning you give for TIPS' seemingly low price. IMO we are (again) just at the end of a very bearish season/cycle and ALTs seem to follow BTC with some delay (upwards and downwards). TIPS like many other will most probably pump again, possibly even to new ATHs later this year or early 2019 like many other coins also will.
As for cpu-mineable algos: That works as long as nobody cares about TIPS, but once marketcap shoots up, Bitmain will have their mining-toasters ready within a few months for whatever algos you might fancy. Based on past experiences with coins that thought they had ASIC-resistant algos, the fact that there will be ASICS at some point has either to be swallowed or you need to fork to a new ASIC-resistant algo du-jour every few months. One could even go as far as saying that buying a L3+ for ~$250 is way more affordable than buying a high-end state-of-the-art PC for cpu-mining at ~$1500. And yes, with a single L3+ you can still solo mine on TIPS.
Personally my biggest concern is that TIPS in its current state will give 50k block-reward until eternity with no halving scheduled, so it can't ever become scarce, right now this is IMO the largest obstacle for a steady price / marketcap growth.
Again, I do appreciate your efforts a lot and I welcome any development on TIPS.
Cheers - psycodad
Ditto that. Although I'm neutral on the swap, I'm concerned a lot of effort will go into the "TIP" swap and wallet with little reward, particularly for those putting the work into it, i.e. the current devs. At least consider some less drastic alternatives. A swap is typically a lot of work.
Looking down the road a year or two, I would hate to see TIPS/"TIP" abandoned again because of little to no profit for those who are putting the time and effort into it.
Love reading this thread – so much positive feedback from the community, you don't see that very often in other threads, mind you
Thanks very much for your concern! In this situation the entire reason we propose to swap is because of the low tips value! Fedora is completely at the mercy of ASIC mining and constantly gets hammered in the market.
Our plan is intended to give power back to individual holders and CPU miners - the algorithm guarantees that.
Tips has gotten so low because ordinary people can't trade it with confidence any more. We plan to change that.
Our plan is intended to give power back to individual holders and CPU miners - the algorithm guarantees that.
Tips has gotten so low because ordinary people can't trade it with confidence any more. We plan to change that.
Please do not get me wrong, I am not opposing your plans in any way. As long there is no hasty swap-within-3-days-or-lose-all and unlisting of the current POW TIPS from exchanges I am all fine and very thankful for the hard work you all put into Fedoracoin!
But I do not agree with the reasoning you give for TIPS' seemingly low price. IMO we are (again) just at the end of a very bearish season/cycle and ALTs seem to follow BTC with some delay (upwards and downwards). TIPS like many other will most probably pump again, possibly even to new ATHs later this year or early 2019 like many other coins also will.
As for cpu-mineable algos: That works as long as nobody cares about TIPS, but once marketcap shoots up, Bitmain will have their mining-toasters ready within a few months for whatever algos you might fancy. Based on past experiences with coins that thought they had ASIC-resistant algos, the fact that there will be ASICS at some point has either to be swallowed or you need to fork to a new ASIC-resistant algo du-jour every few months. One could even go as far as saying that buying a L3+ for ~$250 is way more affordable than buying a high-end state-of-the-art PC for cpu-mining at ~$1500. And yes, with a single L3+ you can still solo mine on TIPS.
Personally my biggest concern is that TIPS in its current state will give 50k block-reward until eternity with no halving scheduled, so it can't ever become scarce, right now this is IMO the largest obstacle for a steady price / marketcap growth.
Again, I do appreciate your efforts a lot and I welcome any development on TIPS.
Cheers - psycodad
I agree with psycodad and seems like price will appreciate soon enough. What if we do a snapshot of current balances and inject it into TIP so that will give everyone unlimited time to claim?
Thanks very much for your concern! In this situation the entire reason we propose to swap is because of the low tips value! Fedora is completely at the mercy of ASIC mining and constantly gets hammered in the market.
Our plan is intended to give power back to individual holders and CPU miners - the algorithm guarantees that.
Tips has gotten so low because ordinary people can't trade it with confidence any more. We plan to change that.
Our plan is intended to give power back to individual holders and CPU miners - the algorithm guarantees that.
Tips has gotten so low because ordinary people can't trade it with confidence any more. We plan to change that.
Please do not get me wrong, I am not opposing your plans in any way. As long there is no hasty swap-within-3-days-or-lose-all and unlisting of the current POW TIPS from exchanges I am all fine and very thankful for the hard work you all put into Fedoracoin!
But I do not agree with the reasoning you give for TIPS' seemingly low price. IMO we are (again) just at the end of a very bearish season/cycle and ALTs seem to follow BTC with some delay (upwards and downwards). TIPS like many other will most probably pump again, possibly even to new ATHs later this year or early 2019 like many other coins also will.
As for cpu-mineable algos: That works as long as nobody cares about TIPS, but once marketcap shoots up, Bitmain will have their mining-toasters ready within a few months for whatever algos you might fancy. Based on past experiences with coins that thought they had ASIC-resistant algos, the fact that there will be ASICS at some point has either to be swallowed or you need to fork to a new ASIC-resistant algo du-jour every few months. One could even go as far as saying that buying a L3+ for ~$250 is way more affordable than buying a high-end state-of-the-art PC for cpu-mining at ~$1500. And yes, with a single L3+ you can still solo mine on TIPS.
Personally my biggest concern is that TIPS in its current state will give 50k block-reward until eternity with no halving scheduled, so it can't ever become scarce, right now this is IMO the largest obstacle for a steady price / marketcap growth.
Again, I do appreciate your efforts a lot and I welcome any development on TIPS.
Cheers - psycodad
Hi all.
The project team have been studying the market situation for Tips and also the issues with the legacy Tips technology. After a lot of research we recommend a change of direction for the Fedora technology. We are sharing our thoughts to get your feedback.
- In spite of the work we’ve done, TIPS (in it's current form) has reached it’s limits – for a range of reasons, but community sentiment & price bears that out.
- Tips price is vulnerable. We achieved solid growth for several months following the relaunch in March, even against the wider crypto market drops. But this has been challenged by large amounts of selling that are beyond our control.
- We want to grow value, improve usability and continue building on the roadmap we developed
- To achieve these goals we need better tech
We propose to build a new Fedora coin (we call it TIP) that addresses all these concerns.
- This will NOT be a hard fork - we propose a voluntary swap
- Swap rate for TIPS -> TIP to be determined still, but probably something like 10:1 or 25:1
- Moving from TIPS -> TIP will be ENTIRELY voluntary
- The swap will be long term - possibly no end date at all so people can wait & see: if the NEW Tip gains value, you can switch from Tips anytime to TIP. If it doesn't, you can hodl your Tips and ignore TIP
- We will CONTINUE support for legacy TIPS
What will the new TIP look like?
- Private: The new Fedora Tip will provide full PRIVACY features, which will be optional
- Even faster: The current Tips usually confirms in about 3 minutes. The new Tip will be at least half that speed, possibly faster (we are researching at the moment)
- Mining for All: No ASIC mining - our planned tech stack will ONLY support small scale mining - CPU's, desktop wallets, etc.
- Mobile: We expect to have a mobile wallet far sooner with the tech we are working on for the new Tip
- When: Time for starting the swap is likely 4 to 6 weeks away. We don't have a planned end date and may keep it open indefinitely.
We would love to hear what your thoughts are. Please share any questions/concerns/ideas that you might have.
Cheers!
Robots.
The project team have been studying the market situation for Tips and also the issues with the legacy Tips technology. After a lot of research we recommend a change of direction for the Fedora technology. We are sharing our thoughts to get your feedback.
- In spite of the work we’ve done, TIPS (in it's current form) has reached it’s limits – for a range of reasons, but community sentiment & price bears that out.
- Tips price is vulnerable. We achieved solid growth for several months following the relaunch in March, even against the wider crypto market drops. But this has been challenged by large amounts of selling that are beyond our control.
- We want to grow value, improve usability and continue building on the roadmap we developed
- To achieve these goals we need better tech
We propose to build a new Fedora coin (we call it TIP) that addresses all these concerns.
- This will NOT be a hard fork - we propose a voluntary swap
- Swap rate for TIPS -> TIP to be determined still, but probably something like 10:1 or 25:1
- Moving from TIPS -> TIP will be ENTIRELY voluntary
- The swap will be long term - possibly no end date at all so people can wait & see: if the NEW Tip gains value, you can switch from Tips anytime to TIP. If it doesn't, you can hodl your Tips and ignore TIP
- We will CONTINUE support for legacy TIPS
What will the new TIP look like?
- Private: The new Fedora Tip will provide full PRIVACY features, which will be optional
- Even faster: The current Tips usually confirms in about 3 minutes. The new Tip will be at least half that speed, possibly faster (we are researching at the moment)
- Mining for All: No ASIC mining - our planned tech stack will ONLY support small scale mining - CPU's, desktop wallets, etc.
- Mobile: We expect to have a mobile wallet far sooner with the tech we are working on for the new Tip
- When: Time for starting the swap is likely 4 to 6 weeks away. We don't have a planned end date and may keep it open indefinitely.
We would love to hear what your thoughts are. Please share any questions/concerns/ideas that you might have.
Cheers!
Robots.
I do not agree swap or hard fork ,It will lost value，Such as paccoin and mooncoin
Hi there,
Thanks very much for your concern! In this situation the entire reason we propose to swap is because of the low tips value! Fedora is completely at the mercy of ASIC mining and constantly gets hammered in the market.
Our plan is intended to give power back to individual holders and CPU miners - the algorithm guarantees that.
Tips has gotten so low because ordinary people can't trade it with confidence any more. We plan to change that.
Best!
Robots
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