Topic: [ANN] (WC) | WhiteCoin | BIG NEWS: Foundation, investors & more ☯ whitecoin.info - page 98. (Read 759214 times)

To me this is the way of the jedi

   I may have already said too much.

This is an interesting idea. So we would have to create a new coin?

Can you elaborate a little further?

Ahh, ok.  I can understand that process, curious to hear what others would think on this specific implimentation.

Reducing coins by destroying is different than reducing coin count by ratio. Think about the maths on that 

PoS wouldn't be affected either. You would still stake at 2% a year. The only difference would be the 1 WC fee with every transaction going to the burn address, chipping away at the total coin count over time.

Anyways, Im not completely sold on this idea. Just thinking out loud.

Well with this method mentioned above , whitecoin will be burnt (raising the market cap by taking coins out of supply) and also allow an anon feature to run on a separate block chain for those that want it.

Bonus points for an exchange to exchange the whiteout coins for whitecoins..

I need to hear more on why reducing the total supply of coins needs to change, or why a change would be beneficial.

Ah no worries about the grilling. I'm not here for that, I just understand coin economics and think about the future of ALL crypto. Who knows if WC will even be around in 2 years let alone 500. I just had a similar issue over at Orangecoin with the devs, trying to figure out how to pay the masternodes. They originally wanted to slice the POS rate in half. We ended up shaving off 4-5 years from the end of PoS.

Destroying the coins is the same as reducing what's in circulation... Same problem exists years from now. Method is different, yes, but end up at same result.

If you have the amount reduced over a long period of time "300 to 200", it will screw up the PoS from an investor point of view. 2% PoS but with a 2+X% reduction of coins in circulation? You need PoS to keep the chain moving unless: Is 'afterhours' PoW still going on paying 10 WC per block? I haven't heard anything about that since I pop in and out of the WC thread.

We have talked about the feature being labeled less of an "anonymous" feature and more of a "privacy" feature. I believe the best way to implement would be to have it as an option rather than mandatory. For example, before you send coins from the Whitecoin wallet, you would have the option of applying the "Whiteout" feature.

Privacy is very attractive to investors and business professionals alike. Not everyone is keen to have their transactions displayed on a public ledger. We would not be catering to money laundering or criminal activities, but rather providing privacy to Whitecoin users.

Great ideas, Ownski, some of them were circling in my head too.

For the coin reduction I was thinking it could've gone along the presentation of the new logo; release of a new coin (WC2.0), 1/10th or 1/100th of the current market cap. Advertise it big and show the crypto world WC is back and better. I really missed the fireworks with this presentation of the logo. Besides twitter/facebook, has it reached anywhere beyond the community (aka potential investors) as it is?

I guess I'm one of few against an anon function for WC. I don't see myself ever using such a feature, and the hype for anon imo has died out for the most part. It's a big risk to attempt it, and the profits may be minimal to none. We as a community should put our heads together to think of a truly unique feature.

What I would like to see, and I've said it before; we need real-life applications for WC. We need a vision, a target audience, have them(us) invest in Whitecoin and give them(us) opportunities to SPEND them for goods or services, instead of sole fundraising. Has the whitiest event I can think of been contacted for a possible collaboration? Or maybe other merchants?

Another brainfart I had, was a geocache kind of game where WC is 'hidden' at physical locations on earth, and others can go claim them at that spot. Haven't figured it out yet how that would work, and my app programming skills are below par but maybe it'll inspire others.

+1 !

It looks like we have sparked someones interest on Mintpal. 12BTC of buy support just appeared out of nowhere. It will be interesting to see where this goes.

I think a great idea would be to bootstrap another coin through a proof of burn of white coin. The new coin could have anon or other features.

The only way to get them would be to buy and burn whitecoin.

A win - win.

How about destroying coins instead of reducing them? I've thought about a wallet feature that would take a 1 WC fee with every transaction, this 1 WC would then get sent to a burn address and would never be recovered. Over time, the WC's would add up and we could limit it to a target amount of coins. For instance, we could reduce from 300 mil coins to 200 mil over a long period of time and have the burn feature turned off once the target is reached.

Or instead of having this as a mandatory feature, it could be an option with every transaction. With every transaction you would get prompted if you would like to send any WC to the burn address. This way instead of reducing the coin count by ratio, we are actually reducing the coin count. Less coins in circulation = scarcity. Scarcity = higher value (in theory).

Just an abstract idea, don't grill me too hard on this one

Grrr....Reducing the coins in circulation is a long term band-aid. You have 300+ million WC in existance. Reduce the coins by 100-fold. Now you have 3 million coins. At 2%, it will take hundreds of years to get back up to 300 million. But it will get back up to 300 million. Then what? We're all dead so we don't worry about it? Wrong answer.

I would have a combined release of the Whiteout feature and the coin reduction (Bigger effect) . They would go hand in hand with the block chain having to be modified. Naturally advertising would follow shortly after/during the release. Since we would have two big updates to the coin, it would give us something to advertise. If the stars align then our community would grow as a result thereof and we will see the fruit of our labors.

A+B=C

Instead of messing around with the mechanics of the coin, give the coin purpose.............

Here's our WhiteCoin Reddit Thread.

We need LIFE over there!

Go upvote, go comment. 


http://www.reddit.com/r/whitecoin

If timed right I do beleive Ownski is on to something here with the coin reduction.

As for the ads I will donate a few neteller $'s to get the campaigns started. Last I checked I struggled to find subreddits associated to crypto currency that had openings for ads but for sure the Facebook is a no brainer and I am sure pretty easy to target in.

I like the idea of a privacy feature.  Having it optional would be nice, as I think only true wallet to wallet transfers would be where the need lies, not necessarily an exchange.  The technical sides needs to be vetted, but i believe if the support exists, the technical creation we can pull together.