ANN - LEOcoin - Official announcement regarding LEOcoin from LEOcoin Foundation - page 38.

LEOcoin Foundation

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Quote from: ivocoins on February 29, 2016, 02:00:59 PM

There are only 20m mined coins, no matter who owns them. And 50m is premine. Now if you discontinue mining, 71% will be premine, instead of the promised figure of 5%. Thats 14x more premine than you originally claimed.

Yes, more coins will be generated through POS, but this is proportional to the coins held, hence, if mining is discontinued the 71% premine will be unchangeable. It will never be 5% premine as you initially claimed.

You own the exchanges, 71% of the coins. And you figured you want to freeze it here.
If leocoin is as transparent as you claim, please allow it to be traded on the major independent exchanges.

I see no reason why other exchanges could not trade or start trading LEOcoin. The LEOxChange was started to create liquidity so that owners of LEOcoin could buy and sell if they wanted to.

ivocoins

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Quote from: LEOcoin Foundation on February 29, 2016, 01:55:11 PM

Quote from: ivocoins on February 29, 2016, 01:41:27 PM

Quote from: LEOcoin Foundation on February 29, 2016, 01:36:41 PM

Quote from: ivocoins on February 29, 2016, 01:23:13 PM

I am indeed entitled to my opinon.
However if you switch to POS only right now, it is a FACT that this turns into a 70% premine, not merely an opinion.

First, it is not me that changes to a POS only system, but LEOcoin developers are changing LEOcoin's algo.

Second, the premine is spread between a large number of persons, third parties and very many individuals who are not the ones that did the pre-mine. When you would say that there is a large group of LEOcoin owners who is also a part of the LEO community, you are right. But imo, you err in your assertion that it is a fact that LEOcoin would turn into a 70% premine. The fact is that Dan Andersson stated in this thread that the 50m. premine is distributed mostly amongst members of the LEO community. 10m. have been donated to the LEOcoin Foundation, so yes, we will have a decent stake interest.

Of course, you can keep pretending you don't understand the concept.

50 million premine, is still 50 million premine, no matter between how many addresses you split it, or even - for the sake of argument - independent entities.

50 million premined out of 70 million total coins means 71.42% premine. This is no opinion, just simple arithmetic.

Yes, the 50 million premine has been know fact from the start. And the current percentage will indeed go down with every new generated block of LEOcoins. What matters to me is not the amount of premine a such, but how it is distributed amongst the owners of LEOcoin. There are also miners with large volumes in their wallets and probably many with a few.

There are only 20m mined coins, no matter who owns them. And 50m is premine. Now if you discontinue mining, 71% will be premine, instead of the promised figure of 5%. Thats 14x more premine than you originally claimed.

Yes, more coins will be generated through POS, but this is proportional to the coins held, hence, if mining is discontinued the 71% premine will be unchangeable. It will never be 5% premine as you initially claimed.

You own the exchanges, 71% of the coins. And you figured you want to freeze it here.
If leocoin is as transparent as you claim, please allow it to be traded on the major independent exchanges.

LEOcoin Foundation

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Activity: 560

Merit: 500

Quote from: ivocoins on February 29, 2016, 01:41:27 PM

Quote from: LEOcoin Foundation on February 29, 2016, 01:36:41 PM

Quote from: ivocoins on February 29, 2016, 01:23:13 PM

I am indeed entitled to my opinon.
However if you switch to POS only right now, it is a FACT that this turns into a 70% premine, not merely an opinion.

First, it is not me that changes to a POS only system, but LEOcoin developers are changing LEOcoin's algo.

Second, the premine is spread between a large number of persons, third parties and very many individuals who are not the ones that did the pre-mine. When you would say that there is a large group of LEOcoin owners who is also a part of the LEO community, you are right. But imo, you err in your assertion that it is a fact that LEOcoin would turn into a 70% premine. The fact is that Dan Andersson stated in this thread that the 50m. premine is distributed mostly amongst members of the LEO community. 10m. have been donated to the LEOcoin Foundation, so yes, we will have a decent stake interest.

Of course, you can keep pretending you don't understand the concept.

50 million premine, is still 50 million premine, no matter between how many addresses you split it, or even - for the sake of argument - independent entities.

50 million premined out of 70 million total coins means 71.42% premine. This is no opinion, just simple arithmetic.

Yes, the 50 million premine has been know fact from the start. And the current percentage will indeed go down with every new generated block of LEOcoins. What matters to me is not the amount of premine a such, but how it is distributed amongst the owners of LEOcoin. There are also miners with large volumes in their wallets and probably many with a few.

ivocoins

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Quote from: LEOcoin Foundation on February 29, 2016, 01:36:41 PM

Quote from: ivocoins on February 29, 2016, 01:23:13 PM

I am indeed entitled to my opinon.
However if you switch to POS only right now, it is a FACT that this turns into a 70% premine, not merely an opinion.

First, it is not me that changes to a POS only system, but LEOcoin developers are changing LEOcoin's algo.

Second, the premine is spread between a large number of persons, third parties and very many individuals who are not the ones that did the pre-mine. When you would say that there is a large group of LEOcoin owners who is also a part of the LEO community, you are right. But imo, you err in your assertion that it is a fact that LEOcoin would turn into a 70% premine. The fact is that Dan Andersson stated in this thread that the 50m. premine is distributed mostly amongst members of the LEO community. 10m. have been donated to the LEOcoin Foundation, so yes, we will have a decent stake interest.

Of course, you can keep pretending you don't understand the concept.

50 million premine, is still 50 million premine, no matter between how many addresses you split it, or even - for the sake of argument - independent entities.

50 million premined out of 70 million total coins means 71.42% premine. This is no opinion, just simple arithmetic.

LEOcoin Foundation

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Activity: 560

Merit: 500

Quote from: ivocoins on February 29, 2016, 01:23:13 PM

I am indeed entitled to my opinon.
However if you switch to POS only right now, it is a FACT that this turns into a 70% premine, not merely an opinion.

First, it is not me that changes to a POS only system, but LEOcoin developers are changing LEOcoin's algo.

Second, the premine is spread between a large number of persons, third parties and very many individuals who are not the ones that did the pre-mine. When you would say that there is a large group of LEOcoin owners who is also a part of the LEO community, you are right. But imo, you err in your assertion that it is a fact that LEOcoin would turn into a 70% premine. The fact is that Dan Andersson stated in this thread that the 50m. premine is distributed mostly amongst members of the LEO community. 10m. have been donated to the LEOcoin Foundation, so yes, we will have a decent stake interest.

ivocoins

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Quote from: LEOcoin Foundation on February 29, 2016, 01:21:43 PM

Quote from: ivocoins on February 29, 2016, 01:08:37 PM

Quote from: LEOcoin Foundation on February 29, 2016, 01:05:00 PM

Quote from: ivocoins on February 29, 2016, 12:52:02 PM

Quote from: LEOcoin Foundation on February 29, 2016, 12:47:07 PM

Quote from: Criptotrader on February 29, 2016, 12:44:30 PM

Quote from: LEOcoin Foundation on February 29, 2016, 12:37:29 PM

Quote from: Criptotrader on February 29, 2016, 12:15:08 PM

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

This means that the premined coins will generate 70% of the new coins, and everybody else 30%. I think this is the SCAM everybody is talking about

You seem to be mistaken. Please read the interview. The large majority of the premine is not longer owned by the party that premined the LEOcoins, but by members of the LEO community (and of course the LEOcoin Foundation). These members are just as much "everybody else" as those who are not a member of the LEO community.

Or in other words you split it between multiple addresses. And now you claim it's different people holding it.
And also you claim that LEO foundation is a different entity, yet even the website uses the same template.

You have promised to emit 1 billion coins, now you change your plan or what? 5% premine turns into 70% premine? or what exactly are you saying?

Even if we did believe you, the fact remains, if you switch to POS only right now, it will be a 70% premine coin. I believe that's called a SCAMCOIN

You are fully entitled to you opinion, even when you err on most premises.

I am indeed entitled to my opinon.
However if you switch to POS only right now, it is a FACT that this turns into a 70% premine, not merely an opinion.

LEOcoin Foundation

hero member

Activity: 560

Merit: 500

Quote from: ivocoins on February 29, 2016, 01:08:37 PM

Quote from: LEOcoin Foundation on February 29, 2016, 01:05:00 PM

Quote from: ivocoins on February 29, 2016, 12:52:02 PM

Quote from: LEOcoin Foundation on February 29, 2016, 12:47:07 PM

Quote from: Criptotrader on February 29, 2016, 12:44:30 PM

Quote from: LEOcoin Foundation on February 29, 2016, 12:37:29 PM

Quote from: Criptotrader on February 29, 2016, 12:15:08 PM

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

This means that the premined coins will generate 70% of the new coins, and everybody else 30%. I think this is the SCAM everybody is talking about

You seem to be mistaken. Please read the interview. The large majority of the premine is not longer owned by the party that premined the LEOcoins, but by members of the LEO community (and of course the LEOcoin Foundation). These members are just as much "everybody else" as those who are not a member of the LEO community.

Or in other words you split it between multiple addresses. And now you claim it's different people holding it.
And also you claim that LEO foundation is a different entity, yet even the website uses the same template.

You have promised to emit 1 billion coins, now you change your plan or what? 5% premine turns into 70% premine? or what exactly are you saying?

Even if we did believe you, the fact remains, if you switch to POS only right now, it will be a 70% premine coin. I believe that's called a SCAMCOIN

You are fully entitled to you opinion, even when you err on most premises.

ivocoins

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Activity: 33

Merit: 0

Quote from: LEOcoin Foundation on February 29, 2016, 01:05:00 PM

Quote from: ivocoins on February 29, 2016, 12:52:02 PM

Quote from: LEOcoin Foundation on February 29, 2016, 12:47:07 PM

Quote from: Criptotrader on February 29, 2016, 12:44:30 PM

Quote from: LEOcoin Foundation on February 29, 2016, 12:37:29 PM

Quote from: Criptotrader on February 29, 2016, 12:15:08 PM

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

This means that the premined coins will generate 70% of the new coins, and everybody else 30%. I think this is the SCAM everybody is talking about

You seem to be mistaken. Please read the interview. The large majority of the premine is not longer owned by the party that premined the LEOcoins, but by members of the LEO community (and of course the LEOcoin Foundation). These members are just as much "everybody else" as those who are not a member of the LEO community.

Or in other words you split it between multiple addresses. And now you claim it's different people holding it.
And also you claim that LEO foundation is a different entity, yet even the website uses the same template.

You have promised to emit 1 billion coins, now you change your plan or what? 5% premine turns into 70% premine? or what exactly are you saying?

Even if we did believe you, the fact remains, if you switch to POS only right now, it will be a 70% premine coin. It is a fact that only 30% of the coins in circulation are actually mined right now.
I believe a 70% premine coin is called a SCAMCOIN, especially after you launched as a 5% premine coin. That's what people bought, coins in a 5% premine. By turning it into a 70% premine you break your contract.

LEOcoin Foundation

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Activity: 560

Merit: 500

Quote from: ivocoins on February 29, 2016, 12:52:02 PM

Quote from: LEOcoin Foundation on February 29, 2016, 12:47:07 PM

Quote from: Criptotrader on February 29, 2016, 12:44:30 PM

Quote from: LEOcoin Foundation on February 29, 2016, 12:37:29 PM

Quote from: Criptotrader on February 29, 2016, 12:15:08 PM

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

This means that the premined coins will generate 70% of the new coins, and everybody else 30%. I think this is the SCAM everybody is talking about

You seem to be mistaken. Please read the interview. The large majority of the premine is not longer owned by the party that premined the LEOcoins, but by members of the LEO community (and of course the LEOcoin Foundation). These members are just as much "everybody else" as those who are not a member of the LEO community.

ivocoins

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Activity: 33

Merit: 0

Quote from: LEOcoin Foundation on February 29, 2016, 12:47:07 PM

Quote from: Criptotrader on February 29, 2016, 12:44:30 PM

Quote from: LEOcoin Foundation on February 29, 2016, 12:37:29 PM

Quote from: Criptotrader on February 29, 2016, 12:15:08 PM

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

This means that the premined coins will generate 70% of the new coins, and everybody else 30%. I think this is the SCAM everybody is talking about

http://explorer.leocoin.org/address/LTBeEWqwzJXAogczHXugrryNVkHCR96h4f
This is where they first gathered the premined coins, then they keep shuffling them around every week.

Now looks like the plan is to switch to POS only and keep everything from themselves. BTW, holding 50 million out of 70 million, they would have 70% of the minting power, they would be able to make a 51% attack, basically leo premine will have FULL control over the network.

LEOcoin Foundation

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Activity: 560

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Quote from: Criptotrader on February 29, 2016, 12:44:30 PM

Quote from: LEOcoin Foundation on February 29, 2016, 12:37:29 PM

Quote from: Criptotrader on February 29, 2016, 12:15:08 PM

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

LEOcoin Foundation

hero member

Activity: 560

Merit: 500

Quote from: ivocoins on February 29, 2016, 12:39:00 PM

Quote from: LEOcoin Foundation on February 29, 2016, 12:37:29 PM

Quote from: Criptotrader on February 29, 2016, 12:15:08 PM

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

but it has POS now, correct?

Yes, currently LEOcoin is a POW and POS hybrid.

Criptotrader

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Quote from: LEOcoin Foundation on February 29, 2016, 12:37:29 PM

Quote from: Criptotrader on February 29, 2016, 12:15:08 PM

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

ivocoins

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Activity: 33

Merit: 0

Quote from: LEOcoin Foundation on February 29, 2016, 12:37:29 PM

Quote from: Criptotrader on February 29, 2016, 12:15:08 PM

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

but it has POS now, correct?

LEOcoin Foundation

hero member

Activity: 560

Merit: 500

Quote from: Criptotrader on February 29, 2016, 12:15:08 PM

Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.

ivocoins

newbie

Activity: 33

Merit: 0

Quote from: Criptotrader on February 29, 2016, 12:15:08 PM

Could someone tell me when POS wallet will start?

It has POS

Look:
http://explorer.leocoin.org/block/f7299ced22b6c876f03278d142a6f2a58f61d62d43f79387256cacb8a99e958a

This is POS block, you keep coins 1 months in wallet, then it pay you.

Buy now, wait 1 month, then you mint POS

Criptotrader

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Could someone tell me when POS wallet will start?

ivocoins

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he want buys cheep. to late now. I sell to you for 0.2$. maybee 0.3. ok?

BarrioFInito

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Quote from: Cryptotraider16 on February 29, 2016, 04:26:25 AM

Anybody look who is ready to sale me 1.000.000 LEOcoins please send me pm i will buy!

LoL, go to Exchange and buy em? fastest way and you will pump your own coin! maybe people pick up the trend and price BLOWS!!!! Wink

ivocoins

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WOW this is good coin! price just doubled!!!

Topic: ANN - LEOcoin - Official announcement regarding LEOcoin from LEOcoin Foundation - page 38. (Read 88341 times)