Topic: [ANN] (WC) | WhiteCoin | BIG NEWS: Foundation, investors & more ☯ whitecoin.info - page 86. (Read 759212 times)

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.

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.

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.

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 mean we are the founding members by default. People should be buying WC now to make sure they get their fair share of WOC.

Sure dev team and foundation needs some funds but these should be the 6m WOC.

Get stocking up on WC now is my advise to devs and outsiders. For long term gains and benefits to the WC community. You can buy WC now with any currency at exchange.... now is the time.

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.

We are delivering a service the community wants, that's the ultimate point of WhiteOut. And we're offering it in a unique way that balances expediency with benefit to the community. In the rampup to launch phases, it creates interest and sales in WC, post launch, we treat them like denominations.

It puts tangible resources into the hands of the foundation as well. This is like win-win-win for the community, in time I hope you can see that.

Great stuff here for sure

+100

thats a new positive development

Any new, positive developments on this coin? Looking for turnaround stories.

+1

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.

What if we converted half of all WC to WOC even swap...one to one.  150 million WC and 150 million WOC.

And through something like coinswap you convert either coin into the other at any time. That would tie the value of both coins together.  If you wanted to perform a WhiteOut purchase or transfer you could trade your WC for WOC.....or vise versa for a purchase of something using WC. 

And, if they were controlled using the same wallet, maybe the exchange could happen automagically through the wallet....

well it could be WC internal only, but as for like an IPO distribution where you could convert WC to WOC but then after that have a mining phase and have it exchangeable with other cryptos.

Really it could be done either way,

I think the pro's for external would be probably a greater level of exposure to those not in the WC community and a probable price increase due to lower number of total coins.

The pro's for WC trades only would be an increase in WC liquidity and more than likely a price increase of the coin but then if there isnt a great level of interest from the outside world then all we do is end up swapping WC for WOC and it makes no real positive influence on the currency.

Can't think of any other negatives but feel free to let me know!

I think you're right in the importance of miners and actually having mining and having a large pre-mine for IPO buys would probably boost both coins.

the only problem i have with 50% premine is that miners just go mental about it and talk about it being scams maybe something a bit less but still substantial

Nice word!

It would be important to have a portion to mine though.  If we just did an exchange, it would leave out the miners.  And, miners bring a lot of attention and energy to a new coin.  So maybe an exchange/IPO for 50 million, and a x11 POW to POS for the other 50 million. 

It's an option for sure.

Sorry malbee, I would have replied more funnyilier 

Yea, right...WOC can only be purchased/traded/exchanged for WC.  So if we say we want 100 million WOC, and assuming it's a one for one trade (which would make sense for the long time holders it would also reduce the amount of WC to 200 million. 

CAI did something similar when they switched to CAIx.  They used coinswap to manage the exchange. 

yeah thats an interesting idea, make WOC an IPO style but you buy with WC then burn the WC that you recieve for payment..

I was kind of being sarcastic at first...but then you got all serious....which made me get all serious... 

What about #1....we could do a coin reduction through a purchase of WOC....  Maybe?

And were actively working towards the last 3.  The first one is still in the table in some sense, I think it was pretty diveded among ppl