Topic: ANN - LEOcoin - Official announcement regarding LEOcoin from LEOcoin Foundation - page 33. (Read 88341 times)

New information from the LEOxChange:

LEOcoin evolving to Proof of Stake mining
At the LEO 3rd Global Annual Conference in Bali this January, Sohail Ramzan, Chief Technology Officer announced the next step in LEOcoin’s evolution. LEOcoin mining is moving from Proof of Work (PoW) to Proof of Stake (PoS). Why are we looking to make this move? The LEOcoin mining environment has changed over the years and now we think there are advantages to Members to move from PoW to PoS. In brief the advantages of PoS to Members can be summarised as - lower cost of operation with PoS; from setting up the technical environment through to cost of electricity to mine - PoW works the computer equipment hard; whereas PoS puts very little strain on the equipment used to mine - PoW rewards get increasingly difficult to achieve over time; PoS is based on a different mechanism rewarding those who hold LEOcoin - PoW gives an advantage to those with sophisticated technical skills; you don’t need any technical expertise to benefit from PoS - PoS is far more secure than PoW More details will follow over the next months.

Source: LEOxChange, March 2 2016, link: https://www.leoxchange.com/UpdatesAndNews.aspx/#50f2b82bbc67425e8e82a5bd00a9d39d

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You are a joker! 👍🏼

i tell to you alreadry. when fondation's distributed coin to me, I tell it to you imeriadely
i sell you cheep. like u like. may bee 0.33$, u kno?

Leocoin dont spend energy for that guy! Better give us some news from Usa!
Also is it true IT already made new LEOcoin wallet and now testing it? 😜

Still wait guys who not trust in LEOcoin to pm me offer i will buy!!
Till now nobody pm me!

I never made any remarks against LGBT, I am very much pro-gay, that's why I suggested you organize the next conference in a gay cinema.

You are mentally insane, you imagine things buddy. You got problems!

And yes, don't bother to respond before you distribute me the coin, as you promised.

@ivocoins

I find your remarks against same-sex oriented persons absolutely sexistic. We live in the 21st century, pall. Get a life.

You getting personal regarding my sanity is offensive too. I will take the liberty to ignore you and will no longer respond to you, unless you apologize to the readers of this thread and start behaving like an adult. You can of course continue posting.

Foundation, buddy, you're completely insane!

What members?
What conferences??!
What webinars.
What not?

You can't even get 10 people to talk on this thread.

Now take your pills and visit your local Gay Cinema. Organize a conference there!
And distribute me some coins already, I'm one of the most active member of the community.

@Peter78

1. Re. being convinced / processus

The major reasons to be convinced that the majority of the premined LEOcoin is distributed amongst LEO community members are, that (a) this is what Dan Andersson has stated, and (b) this is what LEO members and e.g. merchants have confirmed.

Believing someone on their word may sound weird for those in the cryptocurrency community - whereas scam accusations are believed without further evidence - but I see no reason to doubt Dan Andersson’s statements at all. LEO Ltd. has from the start openly been promoting and advocating LEOcoin. They used LEOcoin from the premine as an extra reward for their members, so they might benefit from future developments of LEOcoin. Besides the public statements from LEO Ltd., there is also a large number of LEO community members who have confirmed this distribution.


2. Re. ownership of wallets / addresses


The blockchain is anonymous with regard to personal data, like names and address, I see no reason why LEOcoin Foundation should know who is owning the LEOcoins on the address you have found. However, I am certain that LEO Ltd., who has -  as stated in the interview - distributed the premined LEOcoins will know exactly which member has received how many LEOcoins.


3. Re. distribution & addresses with large amounts of LEOcoins

As this thread is about LEOcoin, going into third party administrative issues, is not one of the things which LEOcoin Foundation sees as its tasks, yet, your questions are relevant enough to ask around, which I did.

a) LEO community members have confirmed, that the LEOcoins they have gotten as reward are in the so called 'back-office'. The same goes for the LEOcoins that have been traded amongst LEO members; these LEOcoins are also in their 'back-office'.

b) I asked LEO Ltd. for a short statement with regard to the question by Peter78 on how big amounts of LEOcoins could be on one address and still be distributed amongst members. Already the user Cryptotraider16 in his last post confirmed the distribution of LEOcoin and pointed at LEO Ltd. holding them in cold 'storage' (adapted from his wordings). The answer from LEO Ltd. seems to point in the same direction:

"LEO confirms and repeats the statements from the interview with Dan Andersson: Most LEOcoins from the premine are distributed amongst LEO members and the registered merchants. For administrative ease, we used our normal distribution system that our members can access in their back-office. At any time our members can arrange for their money to be transferred to their own accounts, wallets or otherwise. Most members still opt to let LEO hold their LEOcoins for them, which might result in larger sums and movements on addresses that our bookkeeping department does use."

Conclusion: As it seems, LEO Ltd. is holding/storing the LEOcoins that are owned by their members, for as far as these members have not opted to transfer their LEOcoins.

As i know LEO is long time ago out of leocoin pre mine! Its all owned now by leo members! But since most leo members dont know to use wallets etc then its normsl LEO ltd hold coins for them on cold wallets! For me its all legit! Its same as bank!

Leocoin have good future!
If anybody want to sale i will buy all! Just send me pm!!!!

Premine 50 million LEOcoin is. That number stay the same it does. Percentage you use, fall it will.

To set things straight: LEOcoin Foundation does presently not know who the author 'ivocoins' is. I have no clue, why this poster speaks about 'his' coins in relation to LEOcoin Foundation or why he would be expecting some kind of 'distribution'.

Therefore the user 'ivocoins' is probably eitehr mixing things up, or making things up. In any case, it would be a proper thing for this user to clarify his claim and pretensions.

When LEOcoin Foundation distributes me my coins, you'll be the first to know!

Guys leocoin is not a scam!
If anybody want to sale i am interested to buy!
Send me pm!

Alright, the scam part might be my opinion.
But 71% premine is a fact.

Now how's that distribution you keep talking about. Here I am, the community.

Thanks for sharing your opinion.

But let me see if I get this straight: LEOcoin Foundation's address is, uhm, *secret* ?

But 71% premine scam will work better. Distribute me some coin, then I'll POS it. With the new wallet.

Well, try mining, POW still works.

That's because you haven't distributed anything to it

Curious about my address, are you?

http://explorer.leocoin.org/address/LTw8Adni4bpsaTntZjdxmpzksq2n5jd2md not seen on the network.