Topic: [ANN] [SFR] SaffronCoin | Latest Version - 1.4.2/2.6.2 | Mandatory Wallet Update - page 172. (Read 437835 times)

It seems dev is busy on working the chat system

Dev why dont you post the screenshots and progress of the messaging system on this thread also since not everyone has twitter and knows about it? Itll help bring back investor confidence and the volume/price correction where it should be

We have to increase volume, then big exchanges will add us and our coin will also be considered for payment options. To increase volume we have to give market what it wants and I am sure you are working in that direction. Good luck

Yes just came back after meeting. Will be keeping in touch with them regularly now. Probably once in a month. They appreciate our work and will support us. They need some more time to observe SFR and include it in their exchange.

Dev did you meet Unocoin?

Just saw the screen shots of new SFR Messaging Service on twitter and it looks awesome.

Alpha testing of SFRMS is almost complete.This is a mock screenshot. Alpha wallet will be available soon


http://t.co/ha4n02NDj6

you are on ignore. lets continue this discussion in a cerebral manner

I know he has a vision and he has pointed out some good things but I don't like when he tries to enforce his opinion on others. Even we discussed these issues after he brought these is his whitepaper. Btw best of luck for tomorrow.

A coin can't be owned by a single person. Dev is nothing without the community. This is "OUR" coin.

I am currently busy working so i can't reply to Hugh in detail. But some of his points are very good and he has a vision. Its best let everyone decide upon it. The new whitepaper should be accepted by the community first before being made public.

No-one is perfect. We need to just focus on getting back up.

We had a pretty good run for 4-5 days. Then we probably had the biggest crash in crypto history. Many factors were involved that caused it. Not just 1 person or 1 thing.

Lets focus on what to do next. Today is a big day for SFR if we go through the Unocoin deal. We can be traded for fiat in Indian Rupee.

Also the new exchange, BlueBulls is going to trade SFR in USD. So pretty good things are coming up.

Also our SFRMS alpha wallet will be out soon. Just working on some security stuff.

Hugh if you have some suggestions then please give them like all the community members do. You don't have to post anything in red to get noticed. Community had already discussed these issues with dev and dev is working in the right direction. First we need to rebuild the trust in the coin which has been lost after your whitepaper and dump. If there is something to be decided dev will post himself and ask for our opinion as this is his coin he  will remain loyal to the coin till the end. Nobody from the community wants the same events happening again, so only dev and community will make the final decision, no single person will be allowed to do that.

Coin Viking, Dev & Community,

Sorry to to take a while to get back to you. I still check into Saffron at least 1x/day and I must say I am a little bit disappointed with technical [ bells & whistles] direction we seem to be heading in. Maybe I am over reacting. Features are good dont get me wrong and ease of use for the general public is crucial but that should be only maximum 50% of our efforts. It is a direction solely based on the Dev's technical ability and only 50% of making Saffron useful as 'money'. Making Saffron useful as money is the real hard part that will require community, insight, organisation, delegation of work and last but not least capitalization[ ie tens to hundreds of thousands of SFR to pay fees, rewards, bounties]. In fairness the meeting with Unocoin is the biggest news this week, not the chat system. We need to know more about this and we should have been adequately discussing the direction we want to be taking with Unocoin before the actual meeting date. At a minimum we need a new whitepaper and since we have not posted a new serious document, I will posting sections of my previous whitepaper for active discussion. In my view the thread has gone off on a technical tone and I think we should bring it back to the 'middle ground'. We have a delegation of work & funding problem at Saffroncoin.

FIRST DISCUSSION - SaffronCoin Reserve Funds to pay fees, bounties, reward

section from HughJays previous white paper

" Expanded Premine/Public Coin Float

We will make submission to the community for an extended premine or public coin float of 250,000-500,000 Saffroncoins to assist future real world/online projects. This additional premine would have to approved and voted on by the community. Any use of this new premine would also have to be authorised and approved by the head Developer and any  2 committee heads.   An example of authorised use would be to reward a real world chain for accepting Saffroncoin eg. (redacted due to confidentiality). 'Real world retailer stores and shoppers will never refuse free money'. A rising Saffroncoin price creates a positive feedback loop. The funds would also be used in funding bounties for new feature development. This additional premine would be placed at a public address in the Saffroncoin Reserve Fund [ SCRF]and be matched by the community for a total of 500,000 - 1,000,000 Saffroncoin. Extremely Important in the above scenario is that the majority [>75%] of this new reserve will go towards real world promotion and NOT people who are already familiar with crypto currencies. This will eliminate any real or imagined risk of dumping on exchanges. Paper wallets may even be used and all oversight is to be the responsibility of a new Saffroncoin Audit committee. Target Date to start Jul 15 2014 "


....further responses below


[quote authorhe d=Coin_Viking link=topic=586320.msg7366528#msg7366528 date=1403029271]

Hey Hugh, just saw you asked me some questions a few pages back with respects to the possibility of additional funding for the coin. I am with you 100%, any good venture must be well funded for success. There is no argument there, and based on IRC chats everyone else is one the same page. There are ambitious ideas/plan afoot that will require investment/seed funds.

The two questions that must be answered:

  1) How much do we really need?

          This taps into the greater question of what we intend to do with said funds, how aggressive do we want to be in the various facets needed to promote, increase awareness and adoption. Personally, were we to create a "saffron development superfund" I would prefer we focus on how best to bolster and support the devs in building up the coin and its ecosystem (mobile wallets or any peripheral tech/application/website to further build out the infrastructure etc). Once we have a more mature ecosystem with more robust feature we could then explore the marketing/pr to the uninitiated to crypto, as barriers to adoption would be significantly lowered to the point that it becomes as simple a downloading an app on the phone. I think too many coins rush with the Pr etc to get price bumps but have yet to achieve a high enough degree of technology that can support the coin for mass adoption.

Again you make a compelling point that I think supports my point above. I am going to go out on a limb and say that I am not against providing even the Developer with additional income in SFR if it means he can work more hours per day. However for eg. we also need to pay an Android, Apple & Windows App Developer.


Do I think some amount should be allocated to marketing and PR? absolutely.. but it would be focused to mostly within the crypto scene for the moment (and its investors etc) and once the proper foundation built, then we could move to pushing into the more traditional spheres of business as you nicely alluded to (gen pop, brick and mortar etc). From the outset with my convos with the dev, market penetration into "real world" is the driving force and has always been, but such an endeavour requires that all the peices be in place because once the trigger is pulled there is no going back. I dont like pointing out other coins, but a certain coin pushed hard to get noticed in nascar.. and I've seen no really evidence that it has had much of an effect. Why? as outliined above, the ecosystem surrounding their coin has yet to reach a level of maturity enabling, anyone to use it without thinking or being intimidated by the tech etc.

Long winded answer, but i think you get my points. So a structured phased and planned rollout of services over X amount of time, bolstered by promos etc to encourage mining interest/ investor adopt which would be supported by this proposed superfund. Amounts of sfr required would be contingent on the progressive active dev an attainment of goals set forth. Whether the funding is also phased or generated all at once or sourced as need be would lead to question no.2

I understand what you are saying. Hopefully we can discuss as a community


   2) How would this be funded?

    It seems as though it really boils down to two options. An additional sfr reserve obtained from the total avail supply or community driven funding for projects on a case by case basis (or some variant, thereof).

      Codewise I'm not positive altering the block structure etc to extract X amount from the system would even be possible without forking the coin. But devs would have to offer their insight into this. Typically just trying to alter the block reward amount will conflict with the merkel hash (if I'm not mistaken) and cause errors/fork into a new coin. So we would be left with old saffron and saffron2.. not unlike CAI/CAIx. this is rather extreme in my opinion and a massive headache to exchange old version of saffron to new version of saffron etc etc.

Dev, Can you write-off this type of solution or is it feasible for the community to vote[new thread] on it ?


     A potentially more elegant solution would be for devs to intro in the next hard fork a superfund addr where say 2 SFR from every block gets funneled to this addr. In doing so the superfund would be perpetually funded. i've seen a few coins do this, i believe einsteinium may have been the first in which a small % of the block reward goes to fund science based projects voted on by the community. Some more recent coins, such as boostcoin have repurposed this feature to use for dev funding, which is what we would do, pending community approval.

Dev, Can you write-off this type of solution or is it feasible for the community to vote[new thread] on it ?

   The community funded approach carried out by manny coins has been successful provided there is enough engagement, this could be the main source of funding for various project but would require alot of community involvement. larger communities tend to be more succeful, the downside of this is that planned development can be delayed if the funding isnt on time or faill to reach its target and stagnates. i do like this idea, I feel as though it is viable and possible should another option be selected this could still very much serve for smaller goals/targets/side projects etc. Or be the main form of funding.. really depends on comm motivations.

It is the chicken and the egg situation and what we do above should help to grow the community to realise big investors who are willing to contribute to such a fund. I have already and still would.  Its a catch 22 situation. Grow the community = bigger source of funds <==> Bigger source of funds leads to growing the community.


I Think it needs to be stressed, are you document clearly mentioned as well that any action on any of these options would nned a majorty support from the community. So thats excellent.


100% Agreed



Everyone feel free to add your comments, questions etc.. I enjoy constructive debate of ideas and solutions. I feel as though this is what any crypto community would strive for at all times. So lets lead not only in innovation and adoption but also become what a crypto community really can and should be. cheers.

ps.. if i repeat things, or make spelling mistake.. wrote this on an iphone.. think I may now be cross-eyed.

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