Topic: [ANN] [SFR] SaffronCoin | Latest Version - 1.4.2/2.6.2 | Mandatory Wallet Update - page 177. (Read 437835 times)

The third sentence of the White Paper says "SaffronCoin features the very first 5 algorithm mining protocol" and uses no such qualifier as to being the first x11 nor blake.

So it's good that you at least are acknowledging you weren't the first. It's too bad the "white paper" makes such claims because it comes off as really shady.

OK so you're kidding yourself since you're obviously confusing traders with investors. An investor will buy and hold during the adoption phase while a trader will buy and dump after the first pump and according to the chart that I'm looking at that is precisely what happened.

I considered myself investment-minded and after doing my due diligence I've come to the conclusion that this is a shitcoin that is good for nothing except pumping n dumping so it has little investment value. I hate it to break it to you but you might be better off scrapping this coin and starting over again in a few weeks after the memory of this debacle begins fading away. I mean I don't see how anybody will take this effort seriously. I certainly won't. You've copied another coins innovation claimed it as your own then proceeded to only come up with a couple gimmicky projects to build on top of it. Why should Mintpal take this coin seriously when its claiming to be the first 5-algorithm multi PoW? You don't think they already know about Myriad? Is that why the whitepaper was taken down? Quote from the paper "SaffronCoin features the very first 5 algorithm mining protocol." So not only does this team not have the decency to name where the innovation came from (DigiByte had no problem giving credit where it was due) they claim this innovation as their own.

Speaking of Myriad, I have invested into it but that hasn't limited me from looking into other innovative coins to invest into, which is why I took some time to do my homework on this coin. The problem in my opinion is that the direction this coin is going into is too gimicky and the market will shit on it until you all finally realize this is in deed a shitcoin. Are you keeping up at all with what the market has actually rewarded? I noticed you're overly focused on anonymity since that 's the latest hyped gimmick. But what about advanced 2.0 features like smart contracts or user-defined assets that coins like NXT or Counterparty offer? No mention of that with this coin. What about metalayers and sidechains? Everything suggested is purely a gimmick (e.g. irc in wallet), adds no real value and reeks of a shitcoin. By contrast Myriad is rolling out 2.0 features and is one of the few coins outside of bitcoin with an SMS wallet as well as an electrum wallet. So if I'm an investor paying attention to the direction the market has been heading why would I choose Saffron when they've just copied another coins innovation without adding anything meaningful to it while showing all the red flags one looks for when identifying a shitcoin??

Sorry this coin is a fail.

I have seen much harder crash. SFR will go up again. Don't worry. Have faith in the dev.
Since the DRK accident, I strongly believe in: buy the dev, not the coin

I don't think so, it looks like these prices will also not come back again, it will only move higher from higher.

Sorry but it looks to me sub 300s within 48hrs

I just bought in at 758, great price. Lets see it move back on up!

Have faith, dev and many community members are hard at work to bring Saffron to new heights.

Major developments in the works! Just a tip, buy now. 

Just a short note to show my supports to our dev.
I am sad to see the turn of events and look back at all this work.
However, I have confidence in you and I am sure you will make up the SFR at fair value.
Surprise us again as you have already been able to do, I'm sure you're capable of and that some of the community have good skills to help you.

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.

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


   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.

     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.

   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.

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.

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.

Diff go down, groestl 300 -> 150 ; X11 175 -> 59.

Glad to see that I can return mining SFR

Shit! I think you're the man I need to talk to. I'll pm you.

Loads! Know a few from Dubai. I was in Oman a few years back.  

Huh, I;m trying to BUY at the price I want, in the quantity I want. Got some filled not all. Pretty normal stuff. No one controls the market, well I hope no one does because that would not be bullish 

Hey, dev.

Do you know anyone from Singapore, Hongkong, Riyadh, and Dubai? I'm trying to raise capital from Angel Investors located in these areas - initiate talks on internatinal remittances using crypto. I'm Filipino and you're Indian. Do you know how many of our countrymen send money home from Dubai and Singapore?

Yes true. I am also in talks in with Unocoin, it is the biggest Bitcoin only exchange in India. They could provide exposure for SFR and help India which is a huge market into the field of crypto and SFR.

India is basically nil in the crypto market now.

Miner dumps are the bane of crypto.

In real stocks, you don't just dump volumes of it for no reason - maybe for bad news. That's a PnD mentality. Imagine dumping your Apple shares in one go without any reason. You're lucky most crypto traders think the same and move on to the next coin/next pump.

That's the problem when 10 - 30% of the coins are held by a few - the market will definitely crash.

Anyway, Saffroncoin has most active and responsive dev in the business - open to changes and new things. However, we must move forward now to widespread acceptance and join the ranks of Bitcoin, Litecoin and Dogecoin.

So are you the one that's dumping? I am pretty sure this current price of SFR is quite low.

Argggh. Very hard getting the 'amount' of SFR at the price 'I want'. Dip then the flood of buyers come in.  

Well distribution was fair. There was pre-ann before launch. Also its been 1.5 months since launch and only 10% of coins are minted. Don't investors will come. Devs are working hard in every direction to make SFR best in the market.