Topic: [ANN] (WC) | WhiteCoin | BIG NEWS: Foundation, investors & more ☯ whitecoin.info - page 8. (Read 759251 times)

Yes, I think that came out wrong (lol) - I was doing a tally of the rich list through 1000 and that equaled about 277m, with a massive amount of individual wallets have 20-30k toward the end. Thus I thought how many thousands of individual users (not within the 1000 top) would actually own 100-1000K set of coins (is that really that many holder)? Thus it seemed the 30m where in some cold storage, held by the community chest to use when needed to insure reserves should there be some emergency with the coin whereas those coins needed to be available (e.g. thwart 51% attacks, etc). So, maybe I was over thinking the escrow reserve that could be used to pay the chunky folks that basically got robbed as well. This type of failure does a lot of harm to the coin and not having an answer and then coming back in with the bad news cast a shadow of doubt. I have been trying my hardest to help keep the coin honest from a distance and only trying to provide ways to keep answers out front for others that may wonder the same.

With that said, looking forward to more positive things and trying to figure out how the folks that lost coin on Chunky are going to get made whole. I know this type of ethical action goes a long way in the perception of the coin. Anything I can do to help, just let me know.

wnw

Yes, I think that came out wrong (lol) - I was doing a tally of the rich list through 1000 and that equaled about 277m, with a massive amount of individual wallets have 20-30k toward the end. Thus I thought how many thousands of individual users (not within the 1000 top) would actually own 100-1000K set of coins (is that really that many holder)? Thus it seemed the 30m where in some cold storage, held by the community chest to use when needed to insure reserves should there be some emergency with the coin whereas those coins needed to be available (e.g. thwart 51% attacks, etc). So, maybe I was over thinking the escrow reserve that could be used to pay the chunky folks that basically got robbed as well. This type of failure does a lot of harm to the coin and not having an answer and then coming back in with the bad news cast a shadow of doubt. I have been trying my hardest to help keep the coin honest from a distance and only trying to provide ways to keep answers out front for others that may wonder the same.

With that said, looking forward to more positive things and trying to figure out how the folks that lost coin on Chunky are going to get made whole. I know this type of ethical action goes a long way in the perception of the coin. Anything I can do to help, just let me know.

wnw

[quote author=Oizopower link=topic=568517.msg8772110#msg8772110 date=1410418435
We are talking about 3 different index systems now (richlist, block explorer, wallet RPC), and they all show the same amount.
Can you please explain how you get to those 277M and why you think 30M coins are missing?

Welcome back, hope the people that are owed funds are not too upset. Maybe the missing 30m can make up for it?

Hey Everyone,

Sorry for the long break between posts. It's been a bit of a wild summer for me, with a few family members falling quite ill, 3 weddings, and helping my girlfriend move to a new city all in the last six weeks.

As you can see, our decentralized model has been working very effectively over the summer. Work never stopped on WhiteCoin because we've structured the foundation to avoid depending on one person only. I've always had complete faith in the team and I think it's very fair to say that faith has been 100% justified. I'll be making a few updates to you all in the next couple weeks as we continue to move forward with registering as an association.

In regards to chunky, I regrettably do not have much to add to the conversation. Unfortunately we were never given full access to chunky's servers, and I too suffered some losses as I kept quite a bit of my portfolio on its servers (quite stupidly, I might add, however I liked the convenience and the owner was always above board with me). I never thought it would vanish offline like that, as I worked with the owner for almost a year. I still hold out hope he will return, but I have yet to hear back from him. I know he experienced some pretty serious health and personal issues this year, so I also hold out hope that chunky going offline is innocent in nature, and I also hope he's ok.

I hope you will all point your miners to coinking, as they have a solid operation and an owner who has the drive to see that site continue to grow.

All the best,

Chris

Hey Everyone,

Sorry for the long break between posts. It's been a bit of a wild summer for me, with a few family members falling quite ill, 3 weddings, and helping my girlfriend move to a new city all in the last six weeks.

As you can see, our decentralized model has been working very effectively over the summer. Work never stopped on WhiteCoin because we've structured the foundation to avoid depending on one person only. I've always had complete faith in the team and I think it's very fair to say that faith has been 100% justified. I'll be making a few updates to you all in the next couple weeks as we continue to move forward with registering as an association.

In regards to chunky, I regrettably do not have much to add to the conversation. Unfortunately we were never given full access to chunky's servers, and I too suffered some losses as I kept quite a bit of my portfolio on its servers (quite stupidly, I might add, however I liked the convenience and the owner was always above board with me). I never thought it would vanish offline like that, as I worked with the owner for almost a year. I still hold out hope he will return, but I have yet to hear back from him. I know he experienced some pretty serious health and personal issues this year, so I also hold out hope that chunky going offline is innocent in nature, and I also hope he's ok.

I hope you will all point your miners to coinking, as they have a solid operation and an owner who has the drive to see that site continue to grow.

All the best,

Chris

Hey Everyone,

Sorry for the long break between posts. It's been a bit of a wild summer for me, with a few family members falling quite ill, 3 weddings, and helping my girlfriend move to a new city all in the last six weeks.

As you can see, our decentralized model has been working very effectively over the summer. Work never stopped on WhiteCoin because we've structured the foundation to avoid depending on one person only. I've always had complete faith in the team and I think it's very fair to say that faith has been 100% justified. I'll be making a few updates to you all in the next couple weeks as we continue to move forward with registering as an association.

In regards to chunky, I regrettably do not have much to add to the conversation. Unfortunately we were never given full access to chunky's servers, and I too suffered some losses as I kept quite a bit of my portfolio on its servers (quite stupidly, I might add, however I liked the convenience and the owner was always above board with me). I never thought it would vanish offline like that, as I worked with the owner for almost a year. I still hold out hope he will return, but I have yet to hear back from him. I know he experienced some pretty serious health and personal issues this year, so I also hold out hope that chunky going offline is innocent in nature, and I also hope he's ok.

I hope you will all point your miners to coinking, as they have a solid operation and an owner who has the drive to see that site continue to grow.

All the best,

Chris

someone pointed out IRL meaning of WC on casheer forums so i wonder what is the sentiment on updating acronym "WC"

perhaps could be voted and implemented at the same time as proposed "4. Reduce Confirmation Times"

candidate acronyms:
1. WTC
2. XWT (this would fit well with XBT )
3. XWH

(whc is already used by some other alt)

why x? "X" refers to ISO code for alternative currencies not controlled by any government.
like Gold is referred to as XAU, Silver (XAG), Palladium (XPD), Platinum (XPT)

ISO standards are set by the international standards organisation, and Bitcoin is already included as XBT (so this would be a good goal for WCF to work towards, establish some international standards recognition)

In case you didn't see...


MintPal V2 – Policies on addition, removal, verified markets and ICO escrows.
by moolahch

Introduction

The following is a tentative structure for the addition and removal of coins on V2 of MintPal, as well as additional policies in relation to verified market and ICO fundraising.

Path to Addition

A coin will be reviewed for addition, once the following requirements are met.

Active development team.
No major bugs in current release of coin.
Strong community support.
Functional wallet.
Functional blockchain explorer.
Is not yet another find and replace clone of Litecoin.
Is at least 28 days old.
A request is made by the development team to review the coin.
Once a request to us has been made, your coin will be put in to the queue for review. The review process will then generally start within 7 days.

Once we begin the process of reviewing a coin, a decision will be made within 7 days – and the details of this publicly announced. If a positive decision is reached, a coin will be added within 24 hours.

From time to time, we will add coins on our own initiative with no external involvement.

Path to Removal

The following are paths to removal.

Coin has less than 1 BTC volume per week, for a period of 4 weeks.
Coin abandoned by developers, with no new developers stepping up to take over. Essentially, if a coin dies.
Request by the developers, where backed by majority sentiment within the coin community. If not backed by the community, we will not act on this request.
In the event that any of the above occur, a 10 day removal notice will be publicized. The markets will be suspended at this time, and no more deposits will be processed. Withdrawals will continue to be processed for a period of 60 days once removed.

Shortcut to Addition

A coin can be urgently reviewed for addition when the following occurs.

A review fee of 5 BTC is paid.
We do not require coins taking the urgent route, to be at least 28 days old. Coins scheduled for release are also welcome to take this route.

We encourage coins to take the regular path to addition. For those in a hurry, the review fee means we will review your coin – and make a decision within 24 hours. If a positive decision is reached, your coin will be added within 24 hours of the decision being made.

Listing fees are not refundable. We do not guarantee addition, but if you meet the requirements for general addition – then there is no reason why you won’t be added.

Shortcut to Removal

While we hope not to instantly remove any coins (skipping the removal notice entirely), the possibility is there. Is there a hidden premine? Has the whole project been outed as a massive scam? We will hit you with a giant space laser from orbit in this scenario.

We will be taking great care with the addition of new coins in order to completely avoid this scenario.

Verified Markets

We will be introducing a new flag in the form of verified markets. A verified market is one that has met the following requirements.

Developer identity verified (commonly known as POD).
Valid roadmap published to the general public, with rough timelines also included.
Functional wallet.
Functional blockchain explorer.
Functional website.
Coin older than 60 days.
A meeting between ourselves and the developers, to get a feel for the project and the people behind it.
We will be adhering strictly to data confidentiality as per our legal requirements (we are a registered data controller with the Information Commissioner’s Office), and your details will only be passed over as a part of any legal request arising from negligence or fraudulent activity on behalf of the developers in question.

A coin can be flagged as developer identity verified without being flagged as a verified market.

Escrow / ICO Policy

We have learned from our past experiences with escrow and ICO procedures, and will be introducing the following general terms for future fundraisers.

Any coin offering an ICO, will not be allowed any additional premine for developer rewards. The funds from an ICO should be sufficient.
An ICO must last a minimum of 72 hours, and no longer than 2 weeks.
Funds will not be released for a period of 7 days, once the ICO has ended.
If the coin is not released during this 7 day window, the ICO will be cancelled, and all purchases refunded.
A coin must have a minimum of a working wallet, blockchain explorer and any core features advertised by the ICO (unless described as having later delivery).
A coin must resolve any major bugs interfering with general operation of the coin, within the 7 day window, plus an additional 72 hour overflow window if bugs become apparent towards the end of this period.
If major bugs are not resolved during this window of between 7 and 10 days, the ICO/escrow will be cancelled and all funds will be refunded.
Refunds will be processed via either direct return where coins have not been traded, or via ICO level buy walls for those that have.
Fees for this process are negotiable on a case by case basis.
These terms are adaptive, but any future ICO and escrow arrangements will have all terms publicly available.

i would vote for XWT or XWH myself, for standards reasons - unless its not assigned by request but assigned by ISO - thats something WCF representatives should ask about

someone pointed out IRL meaning of WC on casheer forums so i wonder what is the sentiment on updating acronym "WC"

perhaps could be voted and implemented at the same time as proposed "4. Reduce Confirmation Times"

candidate acronyms:
1. WTC
2. XWT (this would fit well with XBT )
3. XWH

(whc is already used by some other alt)

why x? "X" refers to ISO code for alternative currencies not controlled by any government.
like Gold is referred to as XAU, Silver (XAG), Palladium (XPD), Platinum (XPT)

ISO standards are set by the international standards organisation, and Bitcoin is already included as XBT (so this would be a good goal for WCF to work towards, establish some international standards recognition)

Thank you! You are serving us well and agree it really is the community, but more importantly the development and promotion of the coin. I should most likely be more concerned about his welfare and would hope all is well with him and everything he has been going through. Knowing we have a few folks running the ops is fine by me. Who needs a title anyway lol. Great work last week with all the good news. Do we know how much is owed on the Chunky pool to folks waiting to be paid? Maybe I can be of assistance and could freeze escrow some coins for them so they know they will eventually get paid out? Just a thought.

Hi Everyone,

Very exciting week we have had, here is a partial list for those of you who just arrived here:

- WhiteOS - Under Development - Alpha Stage - Surprise!

- CryptoCopyright - Beta to be released next week - Powered and Protected by Whitecoin - Press will occur via our media outlets promoting the free retail service beta.  Each release will include Whitecoin and information on how to join the community/what Whitecoin is about.

- Tee's - Another community driven development by grv, shows that if you have an entreprenurial drive, you too can make products/services using Whitecoin.  Lets all continue to message Spreadshirt to encourage them to connect with Casheer to accept Whitecoin - @spreadshirt  @CasheerApp

- Casheer http://casheer.net- Supporting Whitecoin as a payment Currency - Once Casheer has completed support for Whitecoin, Shair has already committed to integrating this into their online properties thereby becoming one of the 1st merchants to accept WC as a form of payment.

- Moohlah https://twitter.com/moolah_io- our volume and community support speaks loudly, there are guidelines that we are reviewing and will comply with any items (such as code review) that may be required for listing.  Keep up the volumes and messaging to them that Whitecoin is here to stay (and only getting stronger). 
** We reached #3 on Mintpal's 24hr volume at least 1 or 2 times when I was checking**

--> It must be noted that we have accomplished so much over the past 4 weeks as a Coinmunity, not because of a single "figure head" - we the community run Whitecoin, not a single figurehead (Mogonzo).  With this being said, today Chris still holds the President position and is looking after IRL items but lest we forget the others involved in WCF such as Oizopower, Mindfox, Surfguy and myself... we currently hold WCF positions and communicate throughout each day about important issues and items as it relates to Whitecoin, Partnerships, Developments and new ideas.

I have been in communication with Chris (Mogonzo) over the past week (he has been IRL very busy) and we are having a call later today or sometime on Monday to catch up and discuss his IRL items/commitments, participation with WCF moving forward, I will also be speaking with him regarding the status of Chunky and its move forward plans.  Once I have spoken with Chris, I will be certain to provide the community with an update unless Chris will be in the position to provide one himself regarding these items.

I couldn't be happier with the forward progress that Whitecoin has made since my joining, our community is what drives our innovation, processes, accountability and transparency.  For these (and other reasons), Shair is confident in the investment made to-date and continues to support Whitecoin in its businesses, investment and further development efforts.

Again, its the community that drives Whitecoin and I for one am proud to be a community, partner and foundation member to help grow and foster Whitecoin to its full potential.

Time to get back to my family for today, will provide more updates as I can!

~ Jason Arnold
COO - Shair.com
VP - Whitecoin Foundation