after a long time thinking it over.... yes the ipo way may be better than the direct sidechain way.
However it would need to be a great whitepaper for whiteout, and full transparency through the entire process.
Topic: [ANN] (WC) | WhiteCoin | BIG NEWS: Foundation, investors & more ☯ whitecoin.info - page 85. (Read 759239 times)
June 26, 2014, 01:31:43 PM
June 26, 2014, 01:24:41 PM
Whitecoin.Info
Also, please refer to the first post in this topic for more information: https://bitcointalksearch.org/topic/ann-wc-whitecoin-big-news-foundation-investors-more-whitecoininfo-568517
June 26, 2014, 12:37:47 PM
A special Announcement from The WhiteCoin Foundation
It's time.
By popular demand, we will be implementing User Privacy Protection Features provided by The WhiteCoin Foundation.
You can consider this the "Pre-Pre-Ann". This has taken a great deal of research and effort on our parts to prepare. We were wanting to get our ducks in a row first to make that big splash, but it's been made clear to us that the community needs an update.
We are pleased to inform you of our next big step as a community:
WhiteOutCoin
Wallet theft, hacks, and worse are unfortunately common in crypto. Just as with real world currencies, there will always be pickpockets looking to steal your hard earned coins. In an age of failed "anonymous coins" that rely upon central points of failure, WhiteOutCoin will provide users with the protection they're actually looking for: privacy in the crowd.
WhiteOutCoin will serve as a companion coin to WhiteCoin, and WC will be the only entry vehicle for WOC for the first month. That's right, to buy WhiteOutCoin in the early stages, you'll need to be a holder of WhiteCoin Prime.
So how will this work?
In the coming days, you'll see us ramp up towards creating a new BCT Pre-Ann thread once our new websites are ready. In this early stage of development, anything is still open to discussion, from total coin count to the algo used for mining.
We invite you to join us in an ongoing discussion in #whitecoinfoundation on freenode: https://kiwiirc.com/client/irc.freenode.net/#WhiteCoinFoundation
Currently our plan is create WhiteOutCoin with a very low total coin count, and an IPO premine where users will only be able to buy in early using WhiteCoin.
I believe this will help drive up volume and interest in our efforts. With WhiteOutCoin on the way, and the WCF en route to engaging with the mainstream media, much higher prices and volume is only a matter of time.
Timeline & Roadmap
June 25th-29th: Commmunity discussion and planning
June 30th - July 3rd: Target window for Pre-Ann thread and website launches
July 5th - 8th: Target window for the launch of our IPO and official Ann thread
July 25th - 31st: Target window for launch of WhiteOutCoin
It's time.
By popular demand, we will be implementing User Privacy Protection Features provided by The WhiteCoin Foundation.
You can consider this the "Pre-Pre-Ann". This has taken a great deal of research and effort on our parts to prepare. We were wanting to get our ducks in a row first to make that big splash, but it's been made clear to us that the community needs an update.
We are pleased to inform you of our next big step as a community:
WhiteOutCoin
Wallet theft, hacks, and worse are unfortunately common in crypto. Just as with real world currencies, there will always be pickpockets looking to steal your hard earned coins. In an age of failed "anonymous coins" that rely upon central points of failure, WhiteOutCoin will provide users with the protection they're actually looking for: privacy in the crowd.
WhiteOutCoin will serve as a companion coin to WhiteCoin, and WC will be the only entry vehicle for WOC for the first month. That's right, to buy WhiteOutCoin in the early stages, you'll need to be a holder of WhiteCoin Prime.
So how will this work?
In the coming days, you'll see us ramp up towards creating a new BCT Pre-Ann thread once our new websites are ready. In this early stage of development, anything is still open to discussion, from total coin count to the algo used for mining.
We invite you to join us in an ongoing discussion in #whitecoinfoundation on freenode: https://kiwiirc.com/client/irc.freenode.net/#WhiteCoinFoundation
Currently our plan is create WhiteOutCoin with a very low total coin count, and an IPO premine where users will only be able to buy in early using WhiteCoin.
I believe this will help drive up volume and interest in our efforts. With WhiteOutCoin on the way, and the WCF en route to engaging with the mainstream media, much higher prices and volume is only a matter of time.
Timeline & Roadmap
June 25th-29th: Commmunity discussion and planning
June 30th - July 3rd: Target window for Pre-Ann thread and website launches
July 5th - 8th: Target window for the launch of our IPO and official Ann thread
July 25th - 31st: Target window for launch of WhiteOutCoin
Everyone must be watching the world cup haha.
In case you missed it yesterday, above is the most recent update.
June 26, 2014, 12:22:15 PM
Done!
Great, I just did a quick look on them, looks like a good startup. I think the more exchanges the better
June 26, 2014, 11:42:35 AM
Done!
June 26, 2014, 10:58:43 AM
June 26, 2014, 10:46:23 AM
mining of whitecoin is finished and now its only POS , or you can mine on their multipool and they will pay you in whitecoins.
Okkk,
can you explain to me what exactly is POS?
Hello!
Check out whitecoin.info and look under the FAQ section, you'll find many answers there
If you still have any questions, post them here, and if they are new, we'll get them added to the FAQ June 26, 2014, 10:38:08 AM
I do NOT support the whiteout companion coin under it's current method of distribution.
It is not fair to WC owners at all.
It should be done like this.
Current WC is 300M.
Current WOC 360M
300M sidechain to whitecoin ... ie every WC you own you get a WOC.
60M retained by escrow or foundation and held on public wallet address to be used for projects and payments as voted on by the community.
I do not agree with ipo that you can purchase with wc in the first month.
WOC is a branch of Whitecoin it should be a sidechain.
Devs and project managers paid gradually from the 60M pot for work they do.
The only other thing we should accept as a whitecoin community is if we were auto given 1 WOC for every 2 whitecoin we hold. Then forever in the future you can only buy WOC with WC. Never any other method.
Whiteout the name was my idea and it was for the good of whitecoin holders. It is not a companion coin at all if it is done as currently suggested. It is just a new coin to enrich the devs who create WOC.
Holding and supporting WC through all of this trouble should me we are the founding members. People should be buying WC now to make sure they get their fair share of WOC.
It is not fair to WC owners at all.
It should be done like this.
Current WC is 300M.
Current WOC 360M
300M sidechain to whitecoin ... ie every WC you own you get a WOC.
60M retained by escrow or foundation and held on public wallet address to be used for projects and payments as voted on by the community.
I do not agree with ipo that you can purchase with wc in the first month.
WOC is a branch of Whitecoin it should be a sidechain.
Devs and project managers paid gradually from the 60M pot for work they do.
The only other thing we should accept as a whitecoin community is if we were auto given 1 WOC for every 2 whitecoin we hold. Then forever in the future you can only buy WOC with WC. Never any other method.
Whiteout the name was my idea and it was for the good of whitecoin holders. It is not a companion coin at all if it is done as currently suggested. It is just a new coin to enrich the devs who create WOC.
Holding and supporting WC through all of this trouble should me we are the founding members. People should be buying WC now to make sure they get their fair share of WOC.
I don't understand how you could think this is not fair to current WC holders. People will be buying WC to gain entry to WOC, driving up the value of your holdings. I also think that offering too many coins for what is really a niche service in crypto would be counter productive in seeing the volume/price increase we're all striving towards. This method gives all current holders the ability to get into WOC at a very early price point, and it also gives them the benefit of being able to participate in the increased volume and value on the markets.
I see this is as win win win, and a totally community driven idea. Don't get me wrong, I'm very glad you're expressing your ideas, I just hope you understand that we are offering this in response to widescale community request and with great thought put into fairness. That's why we've opened this up for discussion at such an early stage, before even the coin specs are fully agreed to. It gives everyone at direct say in how we proceed.
We want this to be as fair and rewarding as possible for all involved.
It is not fair at all. Please be serious. Anyway i'm sure there are enough smart people on this thread to realise the way i suggest as a sidechain with a development pot for the foundation and devs built in that is a fair reward for people that are holding WC now.
Sure let's open it for discussion but it is nothing to do with WC if it is not a sidechain. It is not a companion coin. It will offer a short term spike and nothing else if done the way that was suggested.
Can we all take a very long...deep...cleansing breath?!?!?
There is way to much emotion attached to a conversation that only started 12-14 hours ago.
Mogonzo has announced a new direction for WC....and an unprecedented direction in crypto currency. We are now in uncharted territory, branching out into what could be one of the most revolutionizing changes to happen to any alt coin. (just think of all the boasting we will get to do when other coins "copy" us)
There will be much conversation over the coming days/weeks. Those of you that are vested in this coin and community...let us please keep the talk reasonable and professional. This attitude has been from the start what has separated us from other alt coins. This new direction will attract many new investors, and when they come to this thread, let them see the spirit of community that has drawn most of us to WC in the first place.
We are in 100% brainstorming mode right now....you are likely to hear some ridiculous ideas. You are likely to have your idea of what should happen be (what seems like) completely ignored. This is all part of the process...a process that will likely give us all what we want. A thriving and leading coin in the crypto currency market place.
June 26, 2014, 10:20:33 AM
mining of whitecoin is finished and now its only POS , or you can mine on their multipool and they will pay you in whitecoins.
Okkk,
can you explain to me what exactly is POS?
June 26, 2014, 10:15:32 AM
mining of whitecoin is finished and now its only POS , or you can mine on their multipool and they will pay you in whitecoins.
June 26, 2014, 10:13:36 AM
Now I must go, then you I read
June 26, 2014, 10:11:54 AM
I dont understand the point of Whiteoutcoin. Once its on exchanges people will be able to buy it for btc and makes the whole thing obsolete. I don't understand what it will accomplish.
Totally agree!
I really like the idea of Whiteoutcoin, but I understand that it should be interchangeable solely and exclusively by Whitecoins for a period of at least 2 months.
Suggest an idea
Whiteoutcoin is created with a cap of 60,000,000 coins and for a period of 2 months exchanged for each 1 5 WC and WOC this exchange deals exclusively The Whitecoin Foundation.
It should not burn any WC (that would give greater transparency to the process) and I understand that both currencies can coexist.
After 2 months and once the current holders have exchanged WC as they see fit is launched WOC.
We do EVERYTHING POSSIBLE to avoid suspicions of fraud and Premines etc. .. and above all current holders of WC should have priority.
I'm thinking closer to 3 or 30 million to help drive up demand.
The time we offer WOC exclusively via WC as an entry vehicle is definitely up for discussion. I also agree we shouldn't burn any currency, in my opinion we should come to a goal figure as a community, and decide together how much of that should be split between future development, current operations, and paying those who do the hard work to make this a reality.
Part of why we didn't want to offer this until registration had formally begun as a foundation, is that we wanted to offer our investors that level of accountability for our premine and IPO. We intend to offer a fully transparent plan where just as with the current foundation wallet, users are able to easily track the use of foundation funds. Once we hold our first general assembly, users and investors of the coin will then have a direct say in how that premine is used.
Generally speaking, my opinion is that this should not be a PoS coin, but instead should have a very lengthy mining period like bitcoin. Its time for us to experiment with the other successful approaches to crypto, and offer that as a companion/denomination coin. If we restricted the premine to 2-5% and gave specific timelines for release of funds, then we'd have ourselves a unique recipe for success.
If we let the IPO period go on for too long, my concern would be we risk losing momentum and interest in the service. First and foremost this has to be a coin people can use in all the same ways they use other cryptocurrencies. My instincts tell me we should offer the IPO up until launch, and allow early adopters to get in at a reasonable price in order to see profit returns. This IPO period would then drive up volume on the markets for WC as its the only entry vehicle (this would greatly benefit current holders). In my opinion, this needs to be "by the book" as much as possible, so what I'm hoping is that at launch we can partner with exchanges to offer WC:WOC direct conversion markets. This would then put our foot in the door of the "base currency trade" market currently held by BTC, LTC, DOGE, and a handful of others.
By managing all of this process via our not for profit, inclusive, and community driven foundation, I believe we'll have the right recipe to give people the trust, decentralization, and stake in the process they are looking for.
If you want less whiteout coins for some reason. Then i suggest 36M - 30M given auto to WC holders. 6M held for development in public wallets. Dev and foundation given access to this gradually as payment to them and for service and projects.
This is a seperate coin otherwise and is nothing to do with WC. May as well just be a total new coin that we can sell WC on the market for and buy it with btc. Unless a bunch of people rush at once to buy WC to buy into the ipo, WC holders will see very short term and practically no real benefits. NAH.
How would we auto deliver coins to current holders unless they had to trade in existing coins? Otherwise we're just essentially dumping free coins and I don't see how that could be of value to anyone. Our goal all along has been to become "unbound from any current or future limitations, including coding or software". Once we can implement the multi-wallet, this then becomes just a companion service offered by a team. One brand. One community. One strategy. One wallet. Many services. That's the concept.
Well i would rather see a proper side chain for WC holders. Not this. However, if others want it as it is suggested and can seriously see long term gains for WC doing it that way then that's fine.
The way i suggested seems way more fair to me. Anyway i am but one person, of course the community will decide that's the best thing about crypto it is more like democracy than real life.
The way i suggested provides 20% of entire minting for costs of devs and projects. That is enough and should see them having a vested interest in the future of both coins.
Right now the only thing I have clear esque this is an issue we have to discuss LOT.
Some doubts haunt me, when WOC is created with lid 30,000,000 Currency
then each WOC should be interchangeable for 10 WC, however, considering that this exchange would handle the Whitecoin Foundation, as we were exchanging WOCs WCs by the Foundation would be accumulating million WOCs WCs and that which is not exchanged end up being a HUGE premine both currencies.
I agree with cryptohunter that this should be an accompanying currency WC.
Another idea (after all that's the point):
WOC is created with the coins you who have suggested cover 33,000,000 and 10%
3,000,000 for the foundation (more that could be interpreted as a scam) and if the Foundation needs more money and justified the reason donations are requested (we are a very large community and I am sure that the additional capital requirements would cover).
The new WOC one premine running 100% and divided proportionally between the charge and current holders of WOC, that would make people want to buy WC, knowing it would be the only way to get WOCs and after a time (to discuss ) WOC could walk into any exchange.
June 26, 2014, 10:10:14 AM
Hello to everybody,
I am very interested to mine WhiteCoin but I have some litle doubts about it:
1) WhiteCoin is launched? can I begin to mine it today or have I to wait the official launch? If it is this second situation when can I begin to mine it?
2) On the first official page of this thread I see that there are 3 multipool, but what exactly is a multipool and what is the difference from a classic pool?
3) What are the nodes shown in the first page?
Tnx
Andrea
I am very interested to mine WhiteCoin but I have some litle doubts about it:
1) WhiteCoin is launched? can I begin to mine it today or have I to wait the official launch? If it is this second situation when can I begin to mine it?
2) On the first official page of this thread I see that there are 3 multipool, but what exactly is a multipool and what is the difference from a classic pool?
3) What are the nodes shown in the first page?
Tnx
Andrea
Whitecoin is not mineable right now. A multipool simply mines the most profitable coin using the algorithm you chose and uses those to buy WC for your account.
Ok,
and when the user could begin to mine WhiteCoin? And they could mine it only using multipool or also traditional pool dedicated to this coin?
June 26, 2014, 09:45:18 AM
So what features will Whiteout coin have that will make people want to buy it? Other than you have to buy it with Whitecoins.
June 26, 2014, 09:42:30 AM
Hello to everybody,
I am very interested to mine WhiteCoin but I have some litle doubts about it:
1) WhiteCoin is launched? can I begin to mine it today or have I to wait the official launch? If it is this second situation when can I begin to mine it?
2) On the first official page of this thread I see that there are 3 multipool, but what exactly is a multipool and what is the difference from a classic pool?
3) What are the nodes shown in the first page?
Tnx
Andrea
I am very interested to mine WhiteCoin but I have some litle doubts about it:
1) WhiteCoin is launched? can I begin to mine it today or have I to wait the official launch? If it is this second situation when can I begin to mine it?
2) On the first official page of this thread I see that there are 3 multipool, but what exactly is a multipool and what is the difference from a classic pool?
3) What are the nodes shown in the first page?
Tnx
Andrea
Whitecoin is not mineable right now. A multipool simply mines the most profitable coin using the algorithm you chose and uses those to buy WC for your account.
June 26, 2014, 09:27:01 AM
Hello to everybody,
I am very interested to mine WhiteCoin but I have some litle doubts about it:
1) WhiteCoin is launched? can I begin to mine it today or have I to wait the official launch? If it is this second situation when can I begin to mine it?
2) On the first official page of this thread I see that there are 3 multipool, but what exactly is a multipool and what is the difference from a classic pool?
3) What are the nodes shown in the first page?
Tnx
Andrea
I am very interested to mine WhiteCoin but I have some litle doubts about it:
1) WhiteCoin is launched? can I begin to mine it today or have I to wait the official launch? If it is this second situation when can I begin to mine it?
2) On the first official page of this thread I see that there are 3 multipool, but what exactly is a multipool and what is the difference from a classic pool?
3) What are the nodes shown in the first page?
Tnx
Andrea
June 26, 2014, 09:18:09 AM
I dont understand the point of Whiteoutcoin. Once its on exchanges people will be able to buy it for btc and makes the whole thing obsolete. I don't understand what it will accomplish.
Totally agree!
I really like the idea of Whiteoutcoin, but I understand that it should be interchangeable solely and exclusively by Whitecoins for a period of at least 2 months.
Suggest an idea
Whiteoutcoin is created with a cap of 60,000,000 coins and for a period of 2 months exchanged for each 1 5 WC and WOC this exchange deals exclusively The Whitecoin Foundation.
It should not burn any WC (that would give greater transparency to the process) and I understand that both currencies can coexist.
After 2 months and once the current holders have exchanged WC as they see fit is launched WOC.
We do EVERYTHING POSSIBLE to avoid suspicions of fraud and Premines etc. .. and above all current holders of WC should have priority.
I'm thinking closer to 3 or 30 million to help drive up demand.
The time we offer WOC exclusively via WC as an entry vehicle is definitely up for discussion. I also agree we shouldn't burn any currency, in my opinion we should come to a goal figure as a community, and decide together how much of that should be split between future development, current operations, and paying those who do the hard work to make this a reality.
Part of why we didn't want to offer this until registration had formally begun as a foundation, is that we wanted to offer our investors that level of accountability for our premine and IPO. We intend to offer a fully transparent plan where just as with the current foundation wallet, users are able to easily track the use of foundation funds. Once we hold our first general assembly, users and investors of the coin will then have a direct say in how that premine is used.
Generally speaking, my opinion is that this should not be a PoS coin, but instead should have a very lengthy mining period like bitcoin. Its time for us to experiment with the other successful approaches to crypto, and offer that as a companion/denomination coin. If we restricted the premine to 2-5% and gave specific timelines for release of funds, then we'd have ourselves a unique recipe for success.
If we let the IPO period go on for too long, my concern would be we risk losing momentum and interest in the service. First and foremost this has to be a coin people can use in all the same ways they use other cryptocurrencies. My instincts tell me we should offer the IPO up until launch, and allow early adopters to get in at a reasonable price in order to see profit returns. This IPO period would then drive up volume on the markets for WC as its the only entry vehicle (this would greatly benefit current holders). In my opinion, this needs to be "by the book" as much as possible, so what I'm hoping is that at launch we can partner with exchanges to offer WC:WOC direct conversion markets. This would then put our foot in the door of the "base currency trade" market currently held by BTC, LTC, DOGE, and a handful of others.
By managing all of this process via our not for profit, inclusive, and community driven foundation, I believe we'll have the right recipe to give people the trust, decentralization, and stake in the process they are looking for.
If you want less whiteout coins for some reason. Then i suggest 36M - 30M given auto to WC holders. 6M held for development in public wallets. Dev and foundation given access to this gradually as payment to them and for service and projects.
This is a seperate coin otherwise and is nothing to do with WC. May as well just be a total new coin that we can sell WC on the market for and buy it with btc. Unless a bunch of people rush at once to buy WC to buy into the ipo, WC holders will see very short term and practically no real benefits. NAH.
How would we auto deliver coins to current holders unless they had to trade in existing coins? Otherwise we're just essentially dumping free coins and I don't see how that could be of value to anyone. Our goal all along has been to become "unbound from any current or future limitations, including coding or software". Once we can implement the multi-wallet, this then becomes just a companion service offered by a team. One brand. One community. One strategy. One wallet. Many services. That's the concept.
Well i would rather see a proper side chain for WC holders. Not this. However, if others want it as it is suggested and can seriously see long term gains for WC doing it that way then that's fine.
The way i suggested seems way more fair to me. Anyway i am but one person, of course the community will decide that's the best thing about crypto it is more like democracy than real life.
The way i suggested provides 20% of entire minting for costs of devs and projects. That is enough and should see them having a vested interest in the future of both coins.
June 26, 2014, 09:15:42 AM
IMO it is perfectly fair to cover further development and foundation spending with a new coin IPO, etc.
June 26, 2014, 09:15:24 AM
I do NOT support the whiteout companion coin under it's current method of distribution.
It is not fair to WC owners at all.
It should be done like this.
Current WC is 300M.
Current WOC 360M
300M sidechain to whitecoin ... ie every WC you own you get a WOC.
60M retained by escrow or foundation and held on public wallet address to be used for projects and payments as voted on by the community.
I do not agree with ipo that you can purchase with wc in the first month.
WOC is a branch of Whitecoin it should be a sidechain.
Devs and project managers paid gradually from the 60M pot for work they do.
The only other thing we should accept as a whitecoin community is if we were auto given 1 WOC for every 2 whitecoin we hold. Then forever in the future you can only buy WOC with WC. Never any other method.
Whiteout the name was my idea and it was for the good of whitecoin holders. It is not a companion coin at all if it is done as currently suggested. It is just a new coin to enrich the devs who create WOC.
Holding and supporting WC through all of this trouble should me we are the founding members. People should be buying WC now to make sure they get their fair share of WOC.
It is not fair to WC owners at all.
It should be done like this.
Current WC is 300M.
Current WOC 360M
300M sidechain to whitecoin ... ie every WC you own you get a WOC.
60M retained by escrow or foundation and held on public wallet address to be used for projects and payments as voted on by the community.
I do not agree with ipo that you can purchase with wc in the first month.
WOC is a branch of Whitecoin it should be a sidechain.
Devs and project managers paid gradually from the 60M pot for work they do.
The only other thing we should accept as a whitecoin community is if we were auto given 1 WOC for every 2 whitecoin we hold. Then forever in the future you can only buy WOC with WC. Never any other method.
Whiteout the name was my idea and it was for the good of whitecoin holders. It is not a companion coin at all if it is done as currently suggested. It is just a new coin to enrich the devs who create WOC.
Holding and supporting WC through all of this trouble should me we are the founding members. People should be buying WC now to make sure they get their fair share of WOC.
I don't understand how you could think this is not fair to current WC holders. People will be buying WC to gain entry to WOC, driving up the value of your holdings. I also think that offering too many coins for what is really a niche service in crypto would be counter productive in seeing the volume/price increase we're all striving towards. This method gives all current holders the ability to get into WOC at a very early price point, and it also gives them the benefit of being able to participate in the increased volume and value on the markets.
I see this is as win win win, and a totally community driven idea. Don't get me wrong, I'm very glad you're expressing your ideas, I just hope you understand that we are offering this in response to widescale community request and with great thought put into fairness. That's why we've opened this up for discussion at such an early stage, before even the coin specs are fully agreed to. It gives everyone at direct say in how we proceed.
We want this to be as fair and rewarding as possible for all involved.
It is not fair at all. Please be serious. Anyway i'm sure there are enough smart people on this thread to realise the way i suggest as a sidechain with a development pot for the foundation and devs built in that is a fair reward for people that are holding WC now.
Sure let's open it for discussion but it is nothing to do with WC if it is not a sidechain. It is not a companion coin. It will offer a short term spike and nothing else if done the way that was suggested.
June 26, 2014, 09:13:28 AM
I dont understand the point of Whiteoutcoin. Once its on exchanges people will be able to buy it for btc and makes the whole thing obsolete. I don't understand what it will accomplish.
Totally agree!
I really like the idea of Whiteoutcoin, but I understand that it should be interchangeable solely and exclusively by Whitecoins for a period of at least 2 months.
Suggest an idea
Whiteoutcoin is created with a cap of 60,000,000 coins and for a period of 2 months exchanged for each 1 5 WC and WOC this exchange deals exclusively The Whitecoin Foundation.
It should not burn any WC (that would give greater transparency to the process) and I understand that both currencies can coexist.
After 2 months and once the current holders have exchanged WC as they see fit is launched WOC.
We do EVERYTHING POSSIBLE to avoid suspicions of fraud and Premines etc. .. and above all current holders of WC should have priority.
I'm thinking closer to 3 or 30 million to help drive up demand.
The time we offer WOC exclusively via WC as an entry vehicle is definitely up for discussion. I also agree we shouldn't burn any currency, in my opinion we should come to a goal figure as a community, and decide together how much of that should be split between future development, current operations, and paying those who do the hard work to make this a reality.
Part of why we didn't want to offer this until registration had formally begun as a foundation, is that we wanted to offer our investors that level of accountability for our premine and IPO. We intend to offer a fully transparent plan where just as with the current foundation wallet, users are able to easily track the use of foundation funds. Once we hold our first general assembly, users and investors of the coin will then have a direct say in how that premine is used.
Generally speaking, my opinion is that this should not be a PoS coin, but instead should have a very lengthy mining period like bitcoin. Its time for us to experiment with the other successful approaches to crypto, and offer that as a companion/denomination coin. If we restricted the premine to 2-5% and gave specific timelines for release of funds, then we'd have ourselves a unique recipe for success.
If we let the IPO period go on for too long, my concern would be we risk losing momentum and interest in the service. First and foremost this has to be a coin people can use in all the same ways they use other cryptocurrencies. My instincts tell me we should offer the IPO up until launch, and allow early adopters to get in at a reasonable price in order to see profit returns. This IPO period would then drive up volume on the markets for WC as its the only entry vehicle (this would greatly benefit current holders). In my opinion, this needs to be "by the book" as much as possible, so what I'm hoping is that at launch we can partner with exchanges to offer WC:WOC direct conversion markets. This would then put our foot in the door of the "base currency trade" market currently held by BTC, LTC, DOGE, and a handful of others.
By managing all of this process via our not for profit, inclusive, and community driven foundation, I believe we'll have the right recipe to give people the trust, decentralization, and stake in the process they are looking for.
If you want less whiteout coins for some reason. Then i suggest 36M - 30M given auto to WC holders. 6M held for development in public wallets. Dev and foundation given access to this gradually as payment to them and for service and projects.
This is a seperate coin otherwise and is nothing to do with WC. May as well just be a total new coin that we can sell WC on the market for and buy it with btc. Unless a bunch of people rush at once to buy WC to buy into the ipo, WC holders will see very short term and practically no real benefits. NAH.
How would we auto deliver coins to current holders unless they had to trade in existing coins? Otherwise we're just essentially dumping free coins and I don't see how that could be of value to anyone. Our goal all along has been to become "unbound from any current or future limitations, including coding or software". Once we can implement the multi-wallet, this then becomes just a companion service offered by a team. One brand. One community. One strategy. One wallet. Many services. That's the concept.
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