Topic: [ANN] [SFR] SaffronCoin | Latest Version - 1.4.2/2.6.2 | Mandatory Wallet Update - page 214. (Read 437835 times)

A nicely packed article written about SaffronCoin : http://blog.gryfencryp.to/2014/06/02/saffroncoin/

Hey CViking,

I have a few ideas re marketing however at this time Im concerned with the level of coin creation and increase in money supply. eg. we have created approx. 432,000 coins in the past 2 dayss!!.

This has not helped the situation at Bittrex where bids have all but dried up... only 147,000 Saffron wanted at  between 1 - 6 Satoshi !!

https://www.bittrex.com/Market/?MarketName=BTC-SFR


This level of coin creation will kill any coin and must be addressed.

Hopefully the situation will drastically improve after the HArd Fork. Money supply needs to be kept in check at below 5% pa in my opinion thats approx 400,000coins/yr NOT every 2days. The Dev's and community can then focus on all the great features/marketing resulting in a natural demand/supply market mechanism taking the price in an upward direction.

Saffron has the potential to be a great coin but it is hard to move forward at this level of coin inflation.

Short term issues to be addressed should be:

1) Coin Inflation rate - resolved by Jun 10th
2) White Paper - resolved by Jun 13th


Best

After update very interesting coin. Im mining

Your balance will be as it is. You can create a backup of your wallet.dat file.

when hardfork comes.

What happens with already mined coins?

Could any pool operators please create an X11 pool for SaffronCoin?

Yup. The Difficulties of X11 and blake will show as 0.00024 till the hardfork kicks in. These algos get activated only when the best chain is on the new fork.
Once the hardfork kicks in, you may need to close your wallet and reopen it to solo mine these new algos.

Saffroncoin is designed from the ground up to accomodate asics, the multi algo approach alleviates the typical "arms race" associated with single algo coins by the virtue of having other algos to move gpus over to and yet still remain competitive and provide valuable work to the network. All algos work together in effect bolstering the net hashrate and as such securing the blockchain.

When scrypt asics (they're here already.. But if were talking about the big knc variants to be shipped mid to late summer).. The difficulty will increase for the scrypt algo if some of these machines start mining saffron. At that point for smaller miners it will make more sense to move over to x11, groestl or even blake algos (which are better for the hardware anyways). All diffs are independant per algo so that the system adjusts it so that all algos have an equal chance of finding the next block.

Hope this helps clarify things for you.

Hardfork for new algos kicks in this friday. Wont run until then I dont think.

So X11 can be mined already ?

Sgminer reports a difficulty of 32k while the getmininginfo command reports 0.00024. Why such a difference ?

Yup you are 1 of the 4 i quoted!

I found One 

Thanks to charles33200 for getting a MAC wallet ready for the upcoming Hardfork. If you are using a MAC, please update your wallet to v1.2 from http://saffroncoin.com

hughjays77, saffron's devs are some of the nicest and legit as they come. I am liking the ideas you have outlined. Insofar as block halving, it may be something to revising in a year from now, block halving has had little to no effect on coins that have done it (dogecoin, flutter come to mind.. well one net effect.. loosing miners and hashrate). I am not so concerned, by the superblock to be honest, I'd have to check if I've even even mined one lol.

Anon or rather "privacy features" could be of interest, though for the goals that this coin wants to achieve (that being mainstream adoption) perhaps then the best of both world would be the eventual integration of stealth addresses (think vertcoin's implementation this summer). But at this point, I'd have to side with the devs and say its just too early in saffron's lifecycle atm to be put in active dev over other priorities.

Adoption will come, the hashrate has slowly increased, activity on bittrex as well. Baby steps. When x11 hits, it should generate alot of mining interest. The devs are continually refining the features and planning on expanding the capabilities of their coin and services associated (wallet etc). It may not be the flashy pop that alot of coin seem to be getting these days right out of the gates but some of the best coins took time to be "discovered" by the mainstream.

Insofar as gaining more attention via marketing etc what would you have in mind? I'd love to hear your thoughts. I've helped with the logo/website and am fairly active on twitter and drop in saffroncoin into my convos when I can (today was with the digibyte dev...)

Thanks Dev for the response. After the hard fork we can talk more about money supply inflation, anonymity and the white paper for future plans. I am glad you remain open minded.

Yes, let the hardfork kick in first.
Digishield should keep a check on inflation and dumping.
Regarding the anonymity feature, we had thought about it but we are not really sure about implementing it yet. There is a lot of hype around it but it can also give rise to illegal stuff and many lesser crypto known countries would not end up accepting this. We will wait for some time and if the community wills it, we will try to see if the pros overcome the cons.

We will certainly do a white paper on all the features and what we have in mind in the future for example addition of encrypted messages.

Hi Dev,

Can you please publicly address points 1-3 of my post. I think these points have to addressed. Regards

Hi hughjays77, thanks for your comment. The random superblock shouldn't make much difference since it is quite difficult to find. Till now only 4 people have openly reported finding 1. But it is quite tough. I personally haven't received a single superblock yet. The reward of the superblock is also reduced from 72 * 5 to 50 * 5  with this hardfork.

Excellent news Dev 

Hi Crypto,

I have spoken to the Dev and he seems to be a guy that will listen to suggestions from the community. I hear they are located in India. I hope its a small team instead of 1 person as they have excellent engineers in India.  I agree with the Hard Fork, X11 algorithm, Blake256 algorithm & Digishield difficulty adjustment method.


It is the  changes to the block rewards and random super blocks changes that Im not sure about. I think reward halving should be scrapped for simplicity[not a bit issue], the block reward reduction is all good but the random super block of 250 should be recoded to a 1/100 chance instead of the current 1/20-25 chance.

1) I am hoping the Digishield difficulty method can be used to limit money supply creation to under 5% pa.

2) We can do up a white paper to outline expected Saffron's new features and plans to be implemented.

2a) The possible integration of Anonymity features into the coin.

3) The revolutionary wallet is great but we really need to step up the marketing into overdrive. Their are numerous things we can do.

4) LONGTERM - The adoption of Saffron by retailers around the world in particular India as an accepted unit of exchange[currency] and possible long term adoption buy the South Asia region as the regional digital currency of choice.