Cryptotech has contacted me to step in and help with the reorganization of paycon. What you are about to read is simply a proposal. It needs to be discussed by the community. Its not final , and anything can be negotiated or changed. After looking at the big picture, Ive advised him to do the following:
Perform a swap bringing the total paycon to around 250k con. The current money supply is close to 23 million. This is why its value has fallen so badly.
So in short if everything is agreeable youll get 1 of the new paycon for every 100 old con coins you turn in, making con extremely rare and much more valuable.
Here are the rest of the specs we are proposing:
35%-50% per year POS
X13 algo
Pow is up to you guys. We need feedback. It could be a hybrid of POS and POW or POS only.
New chain.
Completely new wallet with a new look (All new graphics)
Superblocks
And everything else that paycon had. We may leave Tor out, as its only created headaches.
If the community decides this is what they want then my team will move forward and then open the swap.
The swap will stay open for 30 days. No con will be swapped after that.
My team will be managing con during this time.
Once all work is completed, and swap is finished, it will be turned back over to Cryptotech and his team.
To cover the costs of my team and its development and to cover current costs and future costs for Cryptotech, there will be a 10% premine added.
Also to continue the life of con, there will be a 1% tx fee that will go to the dev fund wallet on every transaction. I will receive no part of this.
It would be in your best interest to stay open minded and discuss this. If something drastic doesnt happen, paycon is dead. I know many people dont like premines, BUT it will completely put paycon back on track. So, we are NOT asking you for your BTC. I am certainly against dumping premines and hurting the coins I care about the most. So lets open an intelligent discussion.
For those of you that are not familiar with me. Ive done a few swaps. Fly coin came from a swap. It started out from another coin at 19 sats and is now solid at 128,000 sats. See :
https://bitcointalksearch.org/topic/fly-coin-annswapping-to-las-vegascoinmasternodesdarksendstealth-instantx-1316737Also my other swap was XDE which was totally dead. Today its
THE highest priced altcoin @$22 a coin!!! See :
https://bitcointalksearch.org/topic/annxde-ii-coinnow-300-pos-for-a-few-months-4hr-min-stake-only-100k-coins-1310435Thanks
Vegas