Topic: [ ANN ] SAT² - A new dawn - PoS - No Premine - page 48. (Read 133187 times)

http://213.179.192.62/address/SatFUNDkSLRYZFybE2kvcyR4aP9sM9iRTM

All good. Thank you.

Status: 0/unconfirmed, broadcast through 2 nodes
Date: 5/20/2014 08:38
To: SatFUNDkSLRYZFybE2kvcyR4aP9sM9iRTM
Debit: -4337494.71988429 SAT
Net amount: -4337494.71988429 SAT
Transaction ID: 6966048c6bdae93edc4d79f30652fdaa3879c3f2e9adc5ae662bf36b8fc6df6c

Ok no problem, glad to see your quick response.

Bob's message was directed at us, for the purpose of handling this matter publicly.

We have setup the following address for this purpose: SatFUNDkSLRYZFybE2kvcyR4aP9sM9iRTM

Thank you.

maybe just send them back to the donators, they can send it back to new treasury guy when it gets decided, just share the tx ids so its transparent as it can be?

I could do that but I'm not sure I'm "trusted" enough, anyway if there is no one else I will be happy to do it.

Please provide a public foundation fund address that can be used to transfer ownership of the foundation funds under my control. Thanks.

Indeed, the issue at block 77777 was not an actual error. It was simply a matter of the pools not having updated in time, even though the hard fork was announced well ahead of time. This caused that the pools ended up on a bad fork. We could have simply chosen to not take action at that point, but in an effort to help the pools, we decided to postpone this change to block 80000. So just to be clear: this was NOT an error.

The problem at block 80000 is a different story, this was a development mistake and it should not have happened. Dedicatedpool has temporarily taken their pool down since it simply does not make sense to mine at a block reward of 0.0001 per block. Dedicatedpool has already been notified about the updates that were released today, and I would expect them to update their wallet shortly and resume mining at block 85000.

I hope this clarifies the matter.

But when i see this on the sat dedicated pool
i get scared.

Are the pools collaborating? As you Saturncoins  rightly said the last error i.e block moving from 77777 to 80000 was generated because the pools remained behind.

That's what I like to hear

Glad to see at least the change of fitness!

I completely agree about the importancy of our community, and also completely agree that we have not engaged sufficiently with our community. As stated, recently the Saturncoin team has been expanded, and you can expect to see some refreshing improvements from us, which also involves our activity here.


That is of course completely up to you. As a matter of fact, I would encourage anyone not to invest more than what you are comfortable with. You're not going to want to miss out though, we are heading for Saturn fast and you won't be able to buy in at today's prices anymore soon

The move from block 77777 to 80000 was not an error on our end, but rather an effort to help out the pools which hadn't updated in time.


As stated previously, we are not publishing specific release dates until we are sure that we can actually commit to it. Right now the multipool is not relevant yet as we first need to make the switch to the new PoS blockchain, so let's not get ahead of ourselves


I don't recall this was discussed previously, but this is in fact on our roadmap. Feel free to contribute


Moviejump posted an update last week.

Glad to hear it!
But until I see a complicity between DEVs and community, I do not buy more than I have now.
No coin worth NOTHING without a strong community that supports and this community has been battered

Thanks for the update!

Please take note that Bob is no longer involved with Saturncoin

SAT could have a bright future , but not with these clowns we have and DEVs despise their community.
I'm SAT almost from the beginning , I started buying them Cryptorus 1 satoshi and Cryptsy bought many millions on 2 satohis to prevent sent to market LTC , I came to accumulate nearly 800,000,000 SATs, the community grew and I thought the risk was worth taking , but after receiving only slights and insults to education by asking what you are asking all now ( a little involvement from the dEVs ) and decided to sell what I have been doing for almost a month .
I still maintain a few million (just in case and since my initial investment is already covered) .
Worst of all is that ( and I think it was in the wake of the commentary I show ) , which was an active and growing community , was gradually disappearing , it seems that people are afraid to speak.
Anyway ... wish the best for SAT , but do not think it these DEVs .
Good luck to all

IMPORTANT UPDATE

An updated wallet has been made available for immediate release:

Github (source): https://github.com/satdev/Saturncoin
Windows QT: http://saturncoinfoundation.org/downloads/saturncoin-qt.zip

Be sure to include these addnodes in your saturncoin.conf

Please be sure to update to this updated version immediately.

Changes

• This update fixes the problem with the mining reward, which will take effect starting from block 85000 (approximately 2-3 days from time of writing)
• Final updates to prepare for the exodus have been implemented

This essentially means that the mining reward will remain at 0.0001 until block 85000, at which point it will switch back to 10000 coins reward per block as it was originally intended.

Statement

The coding mistake which caused the block reward to be 0.0001 rather than 10000, was made by a Saturncoin developer whom is currently no longer involved with Saturncoin. He had written the updates prior to his departure, and was finalized by our current developers. Our current developers did in fact test the previous updates before they were released, however unfortunately they had simply overlooked the fact that the mining reward was off. None of this justifies such an error in any way, but unfortunately it was simply a human mistake. We are adjusting our procedures to rule out such a mistake to be made again.

Please note that this problem essentially produces no impact, it only means that the mining of blocks 80000-84999 is not profitable for miners.

Team expansions

Very recently, the Saturncoin team has undergone some changes, including a new team leader and new developers. The new developers have actively been working on the preparations of the exodus to the new blockchain, which is also being tested and staged thoroughly to ensure a smooth transition. Please note that we have not released a specific schedule yet, as we first want to be absolutely sure that everything is good to go. We are however expecting that we will be able to publish more details shortly after block 85000 has been mined.