Topic: [ANN] (WC) | WhiteCoin | BIG NEWS: Foundation, investors & more ☯ whitecoin.info - page 14. (Read 759251 times)

A system that would work like a certificate of deposit is very interesting indeed. I would say a fixed shair of return over a period of time based on volume would be an ancillary investment model to consider, would partisipate. Would need to impose penalty for early withdraws and rewards for reinvestment. Needs to be proportional to investment and less of a lottery favoring only a few. Would advise looking at current fiat systems of investment (e.g. money markets) and forging package that aligns with crypto PoS mining. You really have a novel concept here but again, this does reduce the strategy of using the coin more as a utility than an investment. Investments are only as good as the value of the coin. If the coin does not garner some utility, it's intrinsic value is reduced to the value dictated by the market, regardless of the manipulation.

Thank you, syncing.

Thanks for all the great questions, I have added these questions below with our reply:


> You mention "social exchange", does this mean that you would be interested in furthering this type of development with a direct integration into the wallet?  Can you let us know anything on this?
-->   This is something we have been considering and are considering a direct integtration into the wallet provided security, costs and development efforts warrant

> Does this negate the "Known User Transaction" discussions or is this in addition to this?
-->   Not a chance, this is in addition to KUT!

> When you say "#1, #2, #3 spots" are you only going to payout to three spots?  If not, how many?
-->   This was an example, we are looking for community feedback for this aspect of payout

> 30days to become eligible, what happens if my WC deposit has been made in between your payouts, how long would I have to wait (or is this still a discussion point)?
-->   If your deposit is made between payout periods, you would need to wait until you reach eligibility therefore once you reach 30days, you would be eligible for the next payout period

> Why only 3 participants? Its like a game - if you win you have 60, 25 or 15%, you lose you have nothing from "your part of staking"?  Shouldnt be better to spread it out between all the ppl interested in this and "gave you" 150, 300, 450 k...?

-->   It can be this way where equally the staking is shared, thought it would be fun to allot more based upon an algo with less receiving however, it does simplify things if everyone gets payout accordingly

> If there will be not 10 but 100 participants, you have high possibility to take nothing for months/years...
-->   No, we would make it so that the number of payouts would be allocated to every participant over x period of time with a maximum period to receive, your suggestion of equal payouts based upon the number of participants is much easier to do, just not as large a payout opportunity exists if done this way.

Any other questions/feedback just let us know so that we can determine if the community would like to participate in the PoS mining pool, allow access to WC from outside of crypto, cold storage service in addition to keeping WC out of the hands of the manipulators!

I just duplicated what you mentioned and have notified the DEV team.  Thanks for point this out.

I unlocked my wallet for "staking only" but when sending out Whitecoins it didn't ask for my password. That is not suppose to happen, right?

Update 8/26/14

Hello!

Hope everyone had a good weekend!  European countries are headed back to work, and school is or is almost in session for most students.  This fall into winter time will mark the one year anniversary for a lot of people getting into crypto.  From Mtgox to scam coins (clears throat) we've seen some of the bad sides to crypto.  WhiteCoin is different and will continue to be different as long as YOU (the community) strive for that perfection.

Jason (from shair) has proposed yet another novel idea.  With their large stake of coins they are willing to forgo their own staking in lieu of encouraging 1.)you to stake with them and recieve a bonus,2.) by donating to the WCF directly, and 3.) some to be used as future development funds.  There's still plenty of variables to be massaged, but it seems like a great idea, and I personally will be investing an amount once all things have been hashed (pun intended) out.  

The DEV team and shair are still in intense conversations about a solution regarding "Known User Transactions."  The amount of programming, parameters, methods, etc. all take a while to hash out on a new idea.  We've got a great generally idea, but nailing down specifics is where craft and programming meet.  

Please check out http://forum.casheer.net/viewtopic.php?f=15&t=131&start=10  we have the beginnings of a great opportunity over there, we need you to register, post, and anyone who posts before 8-27-14 @ 11am PST will be put into a raffle to win 2500 WC.  

Be good to one another.  Surfs up!

WCF Wallet - WdPskLzGkjXkSns3BgkRF5fW5SveTBS7tR - 824,645 WC

Developments in descending order of amount raised:
7. Known User Transactions - 1,084,640 WC
4. Reduce Confirmation Times - 366,856 WC
5. Built in Voting - 104,101 WC
3. Smart Contract - 74,027 WC

TOTAL AMOUNT RAISED: 1,629,624 WC!
TOTAL AMOUNT FOR WhiteCoin DEVELOPMENT: 2,454,269 WC!

Made another one: https://www.sendspace.com/file/zxx394

Thanks Oizo, however Mega wont let me DL it. Two different browsers and it just sits there saying "starting", however it is lying. Will update if I ever get my hands on the wallet.

FYI:

This forum here==> http://forum.casheer.net/viewtopic.php?f=15&t=131

May be worth taking a look at.  Having WC added would be  

***

Register > Post > and get your name in a raffle for 2500 WC.  Will be raffled off in IRC 8/27/14 @ 11am PST

to jarnold:

Hi there,

it looks rly interesting what you wrote but I have also a question:

* 60% distributed to 3 participants (this may be extended to more than this amount, still to be completely determined by our PoS minin algo) based upon an algorithm we would deploy - 60% #1, 25% #2, 15% #3 (the amounts of payouts is used as an example)

Why only 3 participants? Its like a game - if you win you have 60, 25 or 15%, you lose you have nothing from "your part of staking"?
Shouldnt be better to spread it out between all the ppl interested in this and "gave you" 150, 300, 450 k...?

If there will be not 10 but 100 participants, you have high possibility to take nothing for months/years...

Maybe i understand that wrong?

Thanks

TW0R

Uploaded it for you, haven't tested it.

whitecoin-qt-no-installer.zip 10.4 MB

Hi everyone!

First the wallet looks awesome, great job to the Whitecoin Developers!

Second, Shair.com would like to propose a service that we believe will accomplish the above (and more):

--> Shair.com PoS Mining Pool

1. We would seed the initial PoS mining pool with +8M WC which would add to the overall stake available for shairing
2. Anyone can join however there would be a minimum WC deposit required of 150,000 WC
3. For all whom participate, there is a minimum hold period of 4 weeks from initial deposit to become eligible for shair in the staking amount
4. Staking coins would be distributed every 2 weeks or perhaps a monthly basis (this is still under discussion)
5. The Staking amount/distribution proposed could be as follows:

* 20% donated to WCF
* 20% retained by Shair + reinvested for increased overall amount available to stake
* 60% distributed to 3 participants (this may be extended to more than this amount, still to be completely determined by our PoS minin algo) based upon an algorithm we would deploy - 60% #1, 25% #2, 15% #3 (the amounts of payouts is used as an example)

[EDIT] Example:
if you were to stake 150,000 WC = 2% = 3000 WC
if you were to stake 8M + WC = 2%  = 160,000 WC which 60% (96,000) would be paid out to participants
If you were to stake 20M+ WC = 2% = 400,000 WC which 60% (240,000) would be paid out to participants
==> the amount to be paid out, will be determined by the eligible participants
==> There would also be a steady donation stream to WCF for operations and development

Therefore, if you had 150k WC the max you could realize would be approx 3000WC but if you participated in the PoS mining pool, you would realize much more than that (as above)

NOTE: any deposit of 150k+ would be eligible, therefore if you had multiple deposits, in theory you could secure #1, #2 and #3 spot in the same payout period.

Additionally, we could facilitate the purchase "Shairs" through our systems (shairs due to B-c31) which could then be exchanged for WC:  
Purchase "shairs", exchange it to WC - manually send to your address.  There would be a fee for this service however we have recently cleared a process with our lawyers which could accommodate this type of process (with refinement required)....


So whats currently on the table by Shair as it relates to the above discussions:

1. Shair.com PoS mining pool with payout structure to participants + donation % to WCF development fund
2. Ability to facilitate the purchase of WC through shair's (purchasing shairs is allowed by law, WC not as it would go against B C 31), which can then be converted to WC with a small transaction %

Shair would be foregoing 80% of its staking on 8M +WC, therefore you could consider this not only a donation to the WCF but a contribution back to participating community members of Whitecoin!

We are ready to have a final review/modifications by our lawyers prior to beginning developing this system however you need to show us that you want us to invest our WC, Development and Energies in making this process!

PS - this is to help the community, WCF and assist in increasing incentive's for people to stake WC (the payout to be more than if they were to stake their own WC.)


Jason Arnold
COO Shair.com
VP WCF

EDIT - adding questions/clarifications from PM's received

1. Can you clarify how the PoS will work?

* Shair would be providing over 8 Million Whitecoins in a staking wallet and will be awarding up to 80% for a minimum of the next 4 months of the staked Whitecoin.  All participants deposited Whitecoin would be added to this amount which will increase the total amount and the amount of staking Whitecoin available therefore instead of paying interest to shairholders, this is combined for a total payout at the appropriate times. 

For example:
10 participants = 1,500,000 Whitecoin
Shair initial amount = 8M+ Whitecoin
Total amount eligible to stake (total wallet amount) 9,500,000 WC
Staking amount = total wallet staking amount between payout periods

2. Why do you mention shairs?

*shairs is a virtual means of exchange for social sharing in our social exchange, these can be purchased for use in our social exchange, therefore we could offer these for purchase which then could be exchanged for Whitecoin.  This would then be offered to people outside of the current crytposphere introducing Whitecoin to them.  We would revamp this process so that 1 shair = 150k WC, therefore new users could purchase this amount, we would hold the WC for them and they would also become eligible for staking after the eligibility time had passed.

3. So you would hold Whitecoin, when could we get them back?

* you could request withdraw of your Whitecoin at any time, if you withdrew your Whitecoin before they became eligible, you would not be eligible for the payout period that you withdrew your Whitecoin.

4. Sounds like a cold storage service as well?

* you bet, we would be storing the deposited Whitecoin offline/in a backed up wallet.  All deposits, payouts and withdraws would be manually processed.

5. so you mean that during this time, I wouldn't receive any staking?

*Correct, staking of any deposits goes into the main PoS pool for payout based upon an algorythm much like a traditional mining pool.

6. Would you be guaranteeing payout?

* all staked WC from the Shair.com wallet (8m+) would be paid out for the specified time period(s).  20% of this staked WC would be held for shair.com and reinvested, 20% would be donated to WCF, 60% would be paid out to participating members.

7. How do you become eligible for payout of the PoS mining staked amount?

* you will need to have deposited a minimum of 150k WC to our wallet address, 30 days maturity will need to happen (we hold the WC for 30 days) upon day 31, you would then become eligible for payout.

==> hope these answers help to clarify the proposal for you all

Any chance of a windows QT?

No Changes in totals for our funding drive, thanks to all who have donated so far!

Here's a shameless bump, in case you missed it...

Not so shitty if you still have some interest, eh?

That is the point of a mailing list: talk with other investors with a certain level of privacy to build trust. Richlist says nothing about the investors' intentions, actually it says nothing about how one person is rich (one can use multiple addresses as I do).

I'm open to hear different ideas and opinions. Thanks.

Lucky guy

mogonzo still on vacation?

Identifying yourself on the richlist does not give you any warranty this people arent going to sell some or all of the coins they own.