Topic: [ANN][CHIP] Chipcoin | Full PoS | Maintained Only | Yobit | Nova - page 3. (Read 63530 times)

Awesome news . Can not wait for more info .

Good luck .

A few more days before I start with the new project guys I will keep you all updated!

Yes, it is actual code.. Though, there is no trading engine on the back-end yet. Thats why I said beta around October.. Coding the trade engine, covering security flaws etc takes time, and funds.. You know as good as me that third party security checks don't come cheap   Yes we can launch without additional checks.. is that wise, safe and a responsible action? Heck no.. And not my style... This is some serious and dangerous business to operate in.. Will it be absolutey 100% safe? No that is simply impossible...Even well known exchanges  can still become victim of some crazy talented hacker/group..  But we want to get as close to the 99.9 as possible!

Cheers for the responses guys!
New positive energy to work with

I like the layout and color scheme!

@BanzaiBTC - This is a very nice looking exchange screen - I am also in agreement on the switch from Chipcoin to the new coin (whatever the name may be).

Yes I've seen that... Though that coin obviously died end 2014... Also the ticker is different...

No worries about that 

There was a coin called PioneerCoin before back in 2014.
https://bitcointalksearch.org/topic/annper-pioneercoin-x13-anonymouscoin-already-launch-bittrexcom-648489

I understand your concern boki, But it will work out.. I'm sure of it
About the name, I don't think pioneerelectronics would make a problem out of it, the word pioneer is a normal word all over the globe lol.. And if shit hits the van, we can call it PioneerScoin hehe..

The exchange is not based on any excisting projects, it is a custom build platform. I do plan to extend services as much as possible though, so I will look into these platforms you suggested.


Sneak early peak:

Another option would be to sell shares in the exchange.
Something to consider if you cannot meet your goals in the ICO portion.

I think I can see what you mean, new trusted exchange would be nice but it requieres even more funds then an altcoin. I like it how we met and I will support you in your further projects, I think you are an good and honest addition to cryptoworld.

I dislike the name, if it does not fail, pioneer is copyrighted brand (http://www.pioneerelectronics.com/).

I only assume, price of 10Mio coins halved would be 0.00000600 satoshi. If so or even more, most chipcoin holders would probably just dump, its always the same problem with swaps. If most dump, then the price will reach again current level or even lower. That is something that I dislike.

On other side, there will be bunch of people who will refuse to buy just because early holders of chip get more, many threat it as unfair for new coins. This could cause mixed reactions on the market.

On which tech do you want to build an secure exchange? Do you already know what you would like to do or did you only imagine it until now? I dont know, DHT and blockchain together could spare you some server costs and show it more innovative and openbazzar would be great refference for some coding parts if not at all forking it into an exchange.

Chipcoin in its current state, has ~10mill spendable coins.. This is simply to much to be a share holder token Boki... I want this token to be semi-rare and profitable for investors through the fee program.. When I created CHIP2 to get us loose from that buggy pow code, there was no plan of this kind.. Only until recently, I found, what I believe is, a good business opportunity for Chipcoin..  The problem is, to make this project a succes.. We need funds.. We dont have that with Chipcoin.. We dont have a premine, or ico funds or whatever.. Everything released, and worked on until now has been done by myself, or paid out of my own pocket...Which is ok.. That is what I choose for back in October 2015..

I strongly believe there is a demand for a new, fresh, customer friendly and safe exchange... Through the crowdfund/kickstarter I am able to cover the third party security checks, hire professional, but known people in the altcoin scene in the team, Promotional/Advertisement costs.. you name it... We will basicly evolve in a business share running over a blockchain, then a coin.. With imo, a fair, and decent return for Chipcoin holders/investors in the long term plan..

You can compare this with an ico that has a pow period as well.. Though, (I hope) instead of miners dumping, we have supporters who are swapping for a better future and investment return.. I hope to crowdfund around 30 BTC, which is the current chipcoin marketcap..

Try to think a little further ahead... All generated exchange fee, is converted into BTC, and then with that BTC (30% of it) we buy the share holder token of the market.. This gives us constant buy pressure on the market.. The bought share holder tokens will be distributed amongst holders based on amount... This will be a constant circle, so basicly the price goes up, your holdings value goes up, and you earn more shares by holding.. The only way to go then is up  

I am actually very excited to start on this project.. And I'm really trying my best here to involve all Chipcoin holders into this project...

The new coin will be named Pioneercoin - PIO (Or Pioneertoken)

I see other points that should be discussed:

1. new coin, why? There are many outside
2. why would any new coin be better?

I think these 2 questions would be main to reply. I assume that banzai means that some other blockchain would be more usefull for his purpose, but what exactly would be these changes to cant be used with current blockchain? What makes you sure that for investor an swap would be more usefull. If there will be some value, what is the exact calculation for chip/value?

Finally, you could start a new coin without killing chip which seems to be bad idea as you need to prioritize your available time, I understand it and agree on it, it would be contraproductive to spread your work on 2 projects. Beside that I understand that there are some server and maintenance costs which double if you keep both projects.

I am not saying yes or no, I would like to know more about it, especially why new coin is requiered.

what i meant is, a swap is propably a win or a loss for some investor. so it is a risk.
but holding on chip is also.
and from my perspective, effectively you are only changing the name.
yes, also some numbers, but a healthy market should reflect this change.

so i am in.

Use the funds for external services , for new coin or however you think will benefit the way forward.

Not sure what you mean by that...  


Please realize I'm trying do a good thing here... Chipcoin in its current form is not suited to be used as a share-token... 10 million coins is just to much for that... We're not twitter with millions of stock shares lol..

With the business structure I created, swapping to the new source is only a plus for chipcoin holders...
I dont have to make Chipcoin a part of this, but I want to... Because I actually care about the people who believe in the long-term plan, and the ones who supported me in this take over project.. That is the only reason I came up with such a rewarding plan in the first place..

Bringing new people in, in our current state, is only healty and good for the project imho..
The choice for a share-token sale of the other 50% is obvious.. To get this project of the ground it needs funding.. I want the best for the community, and this requires funds.. Its as simple as that.. A support team needs to be established and rewarded etc... In return, investors will profit from the exchange trading volume.. So its a win-win situation.. If you are unhappy with the investment, you can always sell on the free market..  This will not be some second rate exchange.. or quick pump and dump coin... You must know me better then that I hope  



Something else,

Luc reminded me today we still have the community funds in storage.. There is still ~130K left in the fund...
We can do two things here, and this is pointed towards the donators..
1, refund so you guys can swap m/keep m
2, Exchange them for an external service (example: Android wallet)

anybody invested more than he could afford to lose?

well, you are facing a new risky time in Chip² 

I agree - I like the concept and support your decision for the future

Banzai

I bought back into CHIP when you posted you were taking it over . Saved me some major losses and made me some nice profit on the way back up


I will follow you to the new project because I invest in the Dev , more so than in the coin .If this is what you decide is best then thumbs up.


My wallet is number 4 on richlist , you have my support!

I've been doing a lot of thinking lately, and have been talking to lots of people... And I came to the conclusion that Chipcoin, in its current form, is not suited to be a "share token" for the exchange I'm building.. There are simply to many coins, to be a "share token"


Now, this a rather big issue, and cant be changed at this time, unless people burn their coins haha... Which will not happen...



So I am launching a new coin soon. This will be a semi crowdfunded project... Profit share tokens are not free of course.. Now before everyone gets steam in their ears.. Please hear me out..

I started the take-over on Chipcoin back in October 2015.. When the developer left us with a dead coin.. It has been a great experience as a person and developer to "lead" Chipcoin to a new level...

As you all know, BlockPioneers is still my main project.. I wanted to offer cheap, reliable crypto related services to the community when I started in July 2015...


I have been thinking a lot on how to compensate, and not leave CHIP holders with nothing.. And I think I've come up with a decent solution...

The new coin will be 100% premined for share token sale.. 50% of the new coin/token will be reserved for Chipcoin Holders... During the Share Token sale I will ask Blacksmith to disable the CHIP market...

The new coin will be 200K in supply
100K reserved for CHIP holders ( 100/1 rate)
100K for the share token sale


So why are you organizing a share token sale?

Development fundings
External security checks
Promotion/Advertisement

These three are the most important things for the crowdfund..


What will investors gain from this?


Beta testing invite
Weekly payouts of exchange fees if you hold your coins for 7 days or longer in your wallet. Payout in coin x
Exchange fees are converted from BTC to coin x, this will provide constant buy pressure on the coin x market
Not some newbie scam dev, but a full time passionate dev


Besides these extra's, it is still a coin

30% of all exchange fees is reserved for coin x holders

So basicly, there is a guaranteed return on your investment.. AND for traders the coin is still having a regular trading market..
And remember, chipcoin holders can simply swap to the new coin  


So are you leaving Chipcoin then?

Well, basicly, I hope you all join me in this adventure.. so we can close the topic Chipcoin, and move on...
I don't see a reason for CHIP to be kept alive after the swap is complete... I do realise I'm basicly cutting every chipcoin's holder bag in half on terms of total supply.. But this will also bring in new interest, and a more healthy distribution...

I'm hoping to crowdfund ~30 to 50 btc max with the crowdfund... If this amount is achieved, the chipcoin swap value is pegged at the same amount in theory.. Which is about the same as our current marketcap

So in short:
Swap to new coin on a 100 / 1 rate (New name also) with 50% of the new coin
Share Token sale with the other 50% of the new coin
Beta testing
Launch
Profit Share!

This is a chaotic, and rough draft of the plan.. And lots of detail are still missing, but I want to inform the community first before I go official  

I'm very curious what you guys think  



edit:
I forgot,

I already have one moderator for the trollbox, but I'm looking for two more... If you are interested in that... PM me 

I agree and congrats on promotion.