Topic: [ANN] RootCoin [ROOT] - rootEX™ announced - ANON-tx using BitKey™- PoW/PoS/PoI - page 78. (Read 271907 times)

Quote from: UGETHIT on August 24, 2014, 12:12:41 PM

Quote from: UGETHIT on August 24, 2014, 12:08:43 PM

So you didn't take 100,000 coins for yourself?

of course not. check the blockchain. the coins from premine still ARE ALL on the premine public addr.

regards
bitsta

Ok then man. You said total coins = 3,000,000 right? You said the IPO is 50% of the total coins right? That's 1,500,000 right? So why On the block explorer does it show 1,600,000 for the premine block? I don't understand.

yeah thats right. but we raised 111 BTC from the POI instead of 100 BTC. therefor we had to extend the premine by 100k ROOT.
doesn't affect anything except that the PoW is a lil smaller & highers the value.

Ok then I understand now. You should adjust your OP to reflect the true # of coins then. It should read 3.1 million total coin not 3 million right?

I believe it is still 3 million coins.

The premine is 53% which had to be adjusted for that extra 100k due to investors.

1.6mil/3mil = 53%

This is my understanding. Please correct me if I'm wrong.

Regards,

LC

yeah correct. it s exactly 53.3%.

LosingCoins

newbie

Activity: 48

Merit: 0

Quote from: UGETHIT on August 24, 2014, 12:18:03 PM

Quote from: UGETHIT on August 24, 2014, 12:12:41 PM

Quote from: UGETHIT on August 24, 2014, 12:08:43 PM

So you didn't take 100,000 coins for yourself?

of course not. check the blockchain. the coins from premine still ARE ALL on the premine public addr.

regards
bitsta

Ok then man. You said total coins = 3,000,000 right? You said the IPO is 50% of the total coins right? That's 1,500,000 right? So why On the block explorer does it show 1,600,000 for the premine block? I don't understand.

yeah thats right. but we raised 111 BTC from the POI instead of 100 BTC. therefor we had to extend the premine by 100k ROOT.
doesn't affect anything except that the PoW is a lil smaller & highers the value.

Ok then I understand now. You should adjust your OP to reflect the true # of coins then. It should read 3.1 million total coin not 3 million right?

I believe it is still 3 million coins.

The premine is 53% which had to be adjusted for that extra 100k due to investors.

1.6mil/3mil = 53%

This is my understanding. Please correct me if I'm wrong.

Regards,

LC

geekeh

newbie

Activity: 59

Merit: 0

Quote from: bitsta on August 24, 2014, 12:14:48 PM

Quote from: bitsta on August 24, 2014, 12:20:34 PM

Not to harp on or anything but I do still think I'm owed at least 200ish root from the official pool, it's a little annoying that it doesn't have any of the statistics found on most other pools that would allow me to prove it, I assume it's logged on the back-end but I can't see the number of valid shares contributed by a specific user over X period of time, or per round and what the difficult / reward was for that round, and what my sharerate was etc. Digging through my miner logs I can probably find out how many valid shares I contributed for the entire mining session, and possibly some smart person could plot that on a graph against a steadily rising difficulty from around 10(ish) when I started to around 200 when I stopped mining on the pool. and work out a reasonable estimate of what I should have been paid. Because I did get some payments, but only for the first 2 hours of mining. And it still seems like a heck of a lot of people haven't received anything, it seems like some sort of problem occurred shortly after 03:30 UTC.

same for you geekeh. no worries. i ll provide a compensation.

Thanks

Assuming you do have the back-end data, I realise integrating it into the pool might be too difficult in the short term, but perhaps you could publish it all as a google docs spreadsheet so we can see how many shares, how many valid, share rate etc etc per RootAddr and maybe be able to figure out exactly what we're owed, those coins must have gone somewhere after all, unless the blockchain forked or something, but I'm assuming you'd tell is if that happened and since at least 90% of the hashing power was on the 'official' pool launch night, that seems unlikely.

There is I assume some way of proving ownership of a specific address, sending a coded transaction or something.

UGETHIT

full member

Activity: 168

Merit: 100

Quote from: UGETHIT on August 24, 2014, 12:18:03 PM

Quote from: UGETHIT on August 24, 2014, 12:12:41 PM

Quote from: UGETHIT on August 24, 2014, 12:08:43 PM

So you didn't take 100,000 coins for yourself?

of course not. check the blockchain. the coins from premine still ARE ALL on the premine public addr.

regards
bitsta

Ok then man. You said total coins = 3,000,000 right? You said the IPO is 50% of the total coins right? That's 1,500,000 right? So why On the block explorer does it show 1,600,000 for the premine block? I don't understand.

yeah thats right. but we raised 111 BTC from the POI instead of 100 BTC. therefor we had to extend the premine by 100k ROOT.
doesn't affect anything except that the PoW is a lil smaller & highers the value.

I see what you mean the total stays the same. Thanks for clearing that up.

Ok then I understand now. You should adjust your OP to reflect the true # of coins then. It should read 3.1 million total coin not 3 million right?

the total cap is still 3 million. But the PoI is 1.6 instead of 1.5. Thanks for hint. I ll change it to 1.6.

Thanks for clearing that up.

bitsta

hero member

Activity: 518

Merit: 500

r00t-dev

Quote from: UGETHIT on August 24, 2014, 12:18:03 PM

Quote from: UGETHIT on August 24, 2014, 12:12:41 PM

Quote from: UGETHIT on August 24, 2014, 12:08:43 PM

So you didn't take 100,000 coins for yourself?

of course not. check the blockchain. the coins from premine still ARE ALL on the premine public addr.

regards
bitsta

Ok then man. You said total coins = 3,000,000 right? You said the IPO is 50% of the total coins right? That's 1,500,000 right? So why On the block explorer does it show 1,600,000 for the premine block? I don't understand.

yeah thats right. but we raised 111 BTC from the POI instead of 100 BTC. therefor we had to extend the premine by 100k ROOT.
doesn't affect anything except that the PoW is a lil smaller & highers the value.

Ok then I understand now. You should adjust your OP to reflect the true # of coins then. It should read 3.1 million total coin not 3 million right?

the total cap is still 3 million. But the PoI is 1.6 instead of 1.5. Thanks for hint. I ll change it to 1.6.

Cesare1985

sr. member

Activity: 322

Merit: 250

Which was ICO price?

UGETHIT

full member

Activity: 168

Merit: 100

Quote from: UGETHIT on August 24, 2014, 12:12:41 PM

Quote from: UGETHIT on August 24, 2014, 12:08:43 PM

So you didn't take 100,000 coins for yourself?

of course not. check the blockchain. the coins from premine still ARE ALL on the premine public addr.

regards
bitsta

Ok then man. You said total coins = 3,000,000 right? You said the IPO is 50% of the total coins right? That's 1,500,000 right? So why On the block explorer does it show 1,600,000 for the premine block? I don't understand.

yeah thats right. but we raised 111 BTC from the POI instead of 100 BTC. therefor we had to extend the premine by 100k ROOT.
doesn't affect anything except that the PoW is a lil smaller & highers the value.

Ok then I understand now. You should adjust your OP to reflect the true # of coins then. It should read 3.1 million total coin not 3 million right?

bitsta

hero member

Activity: 518

Merit: 500

r00t-dev

Quote from: UGETHIT on August 24, 2014, 12:12:41 PM

Quote from: UGETHIT on August 24, 2014, 12:08:43 PM

So you didn't take 100,000 coins for yourself?

of course not. check the blockchain. the coins from premine still ARE ALL on the premine public addr.

regards
bitsta

Ok then man. You said total coins = 3,000,000 right? You said the IPO is 50% of the total coins right? That's 1,500,000 right? So why On the block explorer does it show 1,600,000 for the premine block? I don't understand.

yeah thats right. but we raised 111 BTC from the POI instead of 100 BTC. therefor we had to extend the premine by 100k ROOT to not run out of coins during the PoI-distribution.
doesn't affect anything except that the PoW is a lil smaller & ensures a higher value.

bitsta

hero member

Activity: 518

Merit: 500

r00t-dev

Not to harp on or anything but I do still think I'm owed at least 200ish root from the official pool, it's a little annoying that it doesn't have any of the statistics found on most other pools that would allow me to prove it, I assume it's logged on the back-end but I can't see the number of valid shares contributed by a specific user over X period of time, or per round and what the difficult / reward was for that round, and what my sharerate was etc. Digging through my miner logs I can probably find out how many valid shares I contributed for the entire mining session, and possibly some smart person could plot that on a graph against a steadily rising difficulty from around 10(ish) when I started to around 200 when I stopped mining on the pool. and work out a reasonable estimate of what I should have been paid. Because I did get some payments, but only for the first 2 hours of mining. And it still seems like a heck of a lot of people haven't received anything, it seems like some sort of problem occurred shortly after 03:30 UTC.

same for you geekeh. no worries. i ll provide a compensation.

UGETHIT

full member

Activity: 168

Merit: 100

Quote from: UGETHIT on August 24, 2014, 12:08:43 PM

So you didn't take 100,000 coins for yourself?

of course not. check the blockchain. the coins from premine still ARE ALL on the premine public addr.

regards
bitsta

Ok then man. You said total coins = 3,000,000 right? You said the IPO is 50% of the total coins right? That's 1,500,000 right? So why On the block explorer does it show 1,600,000 for the premine block? I don't understand.

bitsta

hero member

Activity: 518

Merit: 500

r00t-dev

Quote from: UGETHIT on August 24, 2014, 12:08:43 PM

So you didn't take 100,000 coins for yourself?

of course not. check the blockchain. the coins from premine still ARE ALL on the premine public addr.

regards
bitsta

bitsta

hero member

Activity: 518

Merit: 500

r00t-dev

Quote from: AlexAtom on August 24, 2014, 12:01:49 PM

Quote from: UGETHIT on August 24, 2014, 11:56:16 AM

Not to harp on or anything but I do still think I'm owed at least 200ish root from the official pool, it's a little annoying that it doesn't have any of the statistics found on most other pools that would allow me to prove it, I assume it's logged on the back-end but I can't see the number of valid shares contributed by a specific user over X period of time, or per round and what the difficult / reward was for that round, and what my sharerate was etc. Digging through my miner logs I can probably find out how many valid shares I contributed for the entire mining session, and possibly some smart person could plot that on a graph against a steadily rising difficulty from around 10(ish) when I started to around 200 when I stopped mining on the pool. and work out a reasonable estimate of what I should have been paid. Because I did get some payments, but only for the first 2 hours of mining. And it still seems like a heck of a lot of people haven't received anything, it seems like some sort of problem occurred shortly after 03:30 UTC.

Word... I believe I am owed 200 or so as well. No answer from dev Undecided

we ll provide a compensation anyway. thats sure. But we want to check what
happened exactly cause we re getting payouts and so are doing a lot of others.

cheers,
bitsta

UGETHIT

full member

Activity: 168

Merit: 100

So you didn't take 100,000 coins for yourself?

bitsta

hero member

Activity: 518

Merit: 500

r00t-dev

Specifications:
algorithm: scrypt (community voting)
blockreward: 99 ROOT
total coins: 3 million coins
blocktime: 5 minutes
PoS reward: 3%
rpcport: 27377
p2pport:28388
qrcode support

Due to high demand and multiple requests we decided to launch a
2nd Proof of Investment stage with 100 packages.
The final specification is: 50% PoI, 30% PoW and 20% PoS

So the premine should be 1,500,000 coins right? Block 1 had 1,600,000 coins. I guess the dev wanted 100,000 extra for his services. So he gets 111 btc to fund his project yet he takes another 100,000 coins to pay himself? Ok cool I guess if he can sell those 100,000 coins for 15k each he will make 15 more btc. 3.22% premine used just to pay himself? Seems high to me.

no thats not right. the premine is ONLY for the PoI stages.
I ll release a abe-explorer. So it will be public. Once all investors
are paid we ll release a list with how much went to who for what price.

regards
bitsta

AlexAtom

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Activity: 560

Merit: 10

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