Topic: [ANN]ChronoLogic - Proof-of-Time token on Ethereum - page 28. (Read 45343 times)

It's not until december, it's for the next 3 years. It's just that the first period of 88 days ends in the middle of december. After that the minting percentage halves, then 88 days after that it halves again, and so forth..
The price is already suppressed, because there is hardly any volume/liquidity and some people have already given up on it apparently... check https://coinmarketcap.com/currencies/chronologic

By the way: there is some news posted last wednesday on https://blog.chronologic.network  regarding the timemint transfer function, how to go about on etherdelta trading the day token and some other stuff.

Last but not least:

A COUPLE OF QUESTIONS/ADVICE FOR THE CHRONOLOGIC TEAM/DEVELOPERS (I KNOW YOU'RE READING THIS):

1) DAY has NO marketcap, thus NO exposure right now, because the circulating supply is unknown. Can you at least get in contact with the people behind coinmarketcap.com to get that fixed very soon? If you don't do that, you're doing a disservice to the original investors!
2) Give weekly or 2-weekly updates on your blog (publish the cycle you're going to use) on the status of what you are doing and what you achieved that last week(s). If not, i refer to the last sentence of point 1)
3) Not everyone is on Slack, be open about what you are doing on more 'public' channels please. Get a twitter account to start with. If not, i refer to the last sentence of point 1)
4) How nice that you are travelling in Brasil right now ( https://blog.chronologic.network/breakfast-in-rio-recruitment-ee25eec31902 ), nice picture at the copacabana, but besides a couple of possible interviews that might not even happen, WHAT are you doing there for the ChronoLogic company? And how does that benefit the (possible) investors eventually? Again, this comes down to being transparent.
A quote: "We're aiming to have breakfast with a few people to discuss the value they can bring to the ChronoLogic team while we're in Brazil (Rio and Sao Paolo)."
Well, let's counter that with: "What value can ChronoLogic bring to the original investors?".  If this question is ignored or bypassed, i refer to the last sentence of point 1) again.

These are normal, reasonable questions, and i think you owe the TimeMint owners and the people that bought DAY on the open market some answers.
Transparency is key, that's one of the reasons why people are into blockchain technology, live up to it.

Edit:
two more things:
a) The main site still shows a button "join the crowdsale" (linking to a form to get updates when it hits exchanges), it would be more ethical to rename the button label to "crowdsale is over" or "crowdsale was succesful". Also there is an element on the right side with "contribution period begins in" with a clock at 0. A professional organization updates their site, or lets it be maintained by someone who knows how.
b) There is still an advert on etherscan.io that shows up from time to time stating: "Sponsored Link:    Chronologic - Self-Mining Ethereum token based on Proof of Time. Join the Contribution."
Isn't it about time (pun intended) to get this removed? A professional organization is on top of these things.

I like the concept, and am bullish long term but the fact that time mints are gonna mint all these coins on dailt basis till december...i don't think price will be suppressed in short run

I don't think that is the main thing that will drive the price, still waiting for the team to stasrt work on their platform, the usecase of this token will be interesting to see in real life application. I'm not in hurry to sell so the price is not the main concern for me, I just want to see how this time concept will work

I think most important is to launch they platform, exchanges are absolutely not important now because almost every investor wants just to hold their coins for minting so there will be 0 trading volume.

Chronologic just needs to be listed on a good exchange. I hope they are working towards it.

What do you mean vanish? the chronopower will be halved. There will be no vanishing of the created coins...

First thing is the exchanges. Why day is not listed on Liqui, livecoin etc...

Has the dev team said anything on that subject?

Can you tell me how the coins will vanish? I.mean whose coins will vanish after 88 days..so on?

If you want to buy actually DAY token is far below the ICO price on etherdelta, and even cheaper than with ou bonus from minting

It already exceed 4 million dollar. We have not heard the name of the project until today. I'm searching it now. I'm thinking to invest.  The ones who joined to ICO, they throw 15-20 ether, I think they will make hardcap.

Well this is the beginning... after 88 days there will be less coins and after another 88 days,,, even less so.. It was the same thing when BTC started... it was very easy to mine

If timemints are mining 10coins a day, what would prevent holders from dumping such easy money

Many thanks for this

Selling 267 DAY tokens for btc.
https://bitcointalksearch.org/topic/m.22216627

Congratulations for the project, price is at a good level to start the project, I believe that in a few months will be a well known currency. Excellent to see ChronoLogic in Coinmarketcap to visualize its future and volumes. Good job!

Yo Dawg I heard you like daytrading, so I created a DAY token so you can DAY trade while you daytrade!

Yes, i'm sure.

But, as you can read in the whitepaper https://chronologic.network/uploads/Chronologic_Whitepaper.pdf on page 12, there will be a function (soon live i hope?) called 'TimeTx' where a TimeMint (what you refer to as a 'genesis address') can be transferred to a buyer.

As you can read on that page, the seller needs to bring in 8888 DAY (which will be returned to the seller after the sale) for this to work.
To come up with 8888 DAY at this moment, assuming the ico price and being an average timemint owner (let's say having ~ 150 DAY so far), the seller has to first buy ~ $100 000 worth of DAY on the market. After the sale of the TimeMint, what is the seller going to do? Well, i assume most will not just hold on to the 8888 DAY (+ x amount of DAY as the purchase price by the buyer) but sell it back to the market for ETH/BTC/USD(T). Because why sell it in the first place if you're not going to convert it to a currency?

So while this function might go live before this year is out, it will probably not be used until a later chrono-era when there has been enough tokens mined and on the market so when someone is searching for a few thousand tokens, it might be feasible without pumping the token price sky high.

This is how I understand it to be, but if a ChronoLogic team member reads this, please do comment! thanks.

Are you sure that non- genensis address will not be able to mint this tokens, if true the team should have made it possible to sell genesis address the way Artmine team want to go about their ICO, because this only gives unfair advantage to those genesis address holders

The answer to your question is very tough because it's based on a couple of assumptions. The precise amount is unknown but a very rough estimate can be given. Skip to ** if you don't follow me or want a quick estimate.

Let's start with what we know:
20278 ETH was raised amongst 3322 participants (including pre-contributors) with a total of  486 693 DAY  (on september 19th 2017).

The average amount of ETH put in per participant is 6.1044 and thus the average amount of DAY tokens per participant is approximately 146.50 DAY.

All those participants also have a TimeMint address and are mining the token with an average of 0.75% per 24 hours (the 'chronopower') in the 1st chrono-era (88 days, ending ~ december 16th 2017).
Disclaimer: for the average 'chronopower' i assume the median (halfway between 0.5 and 1% = 0.75%) for an easier calculation, but i know this is not accurate because the majority of DAY tokens in TimeMints is skewed towards the 1%.

Assuming nobody ever sells any DAY tokens ever, we use https://www.timemints.com to calculate the average amount of DAY that can be mined. Inputs: ethereum initial investment 6.1044 ETH, TimeMint 1667 (half of 3333 total).

From that calculation we see that:
After about 10 chrono-eras (= 2.4 years) the total amount is more or less reached, so i use the corresponding number in the table under the column 'valor final' on the timemints site as the total (= 545.93 DAY).

** The total supply (for 3333 TimeMints after 2.4 years) is thus  1 819 584  DAY

There are a few very important 'buts':
- be advised that the largest increase in token supply regardless of trading will be in the chrono-era we are in right now; with the calculation example i used it would mean the total supply would be 942 439 DAY on december 16th 2017  (an almost 100% increase).
- i have completely disregarded the yesterday token and i assume that one deprecated.
We know that the tokens are being traded obviously:
- if tokens are bought on the market by a person that doesn't own a TimeMint address, they can't self mine. The impact of this scenario on the total supply will be the largest in the 1st chrono-era (now). The total supply will be less than my estimate.
- if tokens are bought on the market by a TimeMint owner with a higher chronopower from another TimeMint owner with a lower chronopower, the total supply will be higher than estimated.
- if tokens are bought on the market by a TimeMint owner with a lower chronopower from another TimeMint owner with a higher chronopower, the total supply will be lower than estimated.

I probably have missed some other possible scenarios, but how the tokenomics of this will play out exactly, we will have to see.

Thank you

I have the same  but my balance is showing fine.