Topic: [ANN][NYAN] NyanCoin - ★★★V1.2 Released! Now Listed on Cryptsy! ★★★ - page 11. (Read 80980 times)

WTF?

Many miners is dumpers. They sell coins at once.

Thats too exaggerated looking at Clean Water Coin Specifications:

Algorithm: Scrypt
Type: POW + POS
Symbol: WATER
Max Coins: 1,000,000,000
Block time: 120 seconds
Difficulty Re-Target Time:  Every block

Block Rewards: From block 51-250 payout will be 0 to ensure a fair launch
1,000 from block 251-7000
(20,000)(1/√(Difficulty+500)) from block 7001-250,000
(15,000)(1/√(Difficulty+500)) from block 250,001-500,000
(10,000)(1/√(Difficulty+500)) from block 500,001+

POS Rewards: Fixed 8% beginning at block 7001-500,000
Fixed 7% beginning at block 500,000-1,000,000
Fixed 6% at 1,000,000-2,000,000
Fixed 2% at 2,000,000+

POS Schedule: Coins mature after 20 days
Charity Wallet Donation: 0.1% of transaction*
Confirmations for mined blocks: 50
Confirmations for minted blocks: 50
Confirmations for transactions: 4

+1 Multipool is very important point.

May be we have +10-20% coins per year and 5% later.

If the PoW will be closed, we can attract miners without suffering from the negative effect caused by mined coins dumping. Take a look at Blackcoin, when the PoW phase was over, the multipool has come that allowed miners to "mine" BC this way: miners are actually mining some coins from coinwarz top, that is exchanging into bitcoins, and then bitcoins are used to purchasing BC.

So, multipool purchased much BC every day, and the price went to the moon. Of course, part of miners were dumping BCs after getting the payouts, but multipool soon purchased them back  It was a nice ride, and even now when the hype around it is over, the price is still high!

https://www.mintpal.com/market/BC/BTC

Why not to make the same with Nyan? It will work! And everyone will like it - holders will have havier bags, miners will make good profits mining coin with increasing value, and the speculators will enjoy rollercoaster ride. Much more new people will be into Nyan, so this will be huge win for every one in the community I believe.

I don't like POS since it will heavily reward early miners. I mined it early too but it will not attract new miners...

X-11, digishield, gradual block rewards..

If we stick to POS only, with the low income of coins especially on scrypt based coins we need to compensate by reducing power cost and X11 is necessary to get ROI easier for miners.. There are only 2 X11 coins Dark and Hiro. Hiro bypassed us in marketcap with only 2 weeks old.. We need to get back on the game fast..

Blackcoin is a shitcoin. +1% over 1 year, what is this? If this is Nyan I am gone. All it did was benefit those who mined it early on, with no benefit for anyone getting into it now. The whole system they set up is rigged.

Either we have a novel coin via X11 and getting rid of the KGW for Digishield, or we clone BC, that is what I have seen. If we clone BC, might as well go with the original.

Read about blackcoin. This is very simple and geniusly. +1% of your coins for the year and multipul for other coin with exchange on blackcoin.
http://www.blackcoin.co/
Sorry for bad translation.

Without mining, there will be no way for people with little or no Nyan to get any without spending money. Without lower rewards and/or PoS, there is just too much supply.

The vote is pretty much tied, and honestly extra accounts could have been created or used to get it to swing a few votes one way or the next.

Thinking of one other notable point of PoS, people could earn Nyan while mining other coins. This could be a good thing, or a bad thing, depending on how much they get into their other coins and how much PoS pays out.

I think hybrid is the right way to go it seems, imo. It may be more work, but ensures Nyan will have staying power. After that, it's only a matter of building a marketplace.

a few hours left to vote and it looks like it`s going to be a tie , what happens then , are we going to vote again or will you choose a winner for us

Dear Dev,

 Hope you have some plans to attract investors to buy NYAN then i would support POS with reduced coin to increase the coin market cap which in turn  gets NYAN to added on standard exchanges which is exactly what we all needed.

 If you don't have any plan's then please change the algorithm to X11 and let us hope for the best. 

I think we need POS and multipool for other coins with exchange on nyancoin.
Sorry for bad translation.

Even if Nyan went to 10% it's current (abysmal) hashrate, it would have a higher hashrate than many other altcoins.  A 51% attack is extremely unlikely (I am only aware of it happening maybe once or twice in the history of altcoins), but I agree - x-11 with reduced rewards is not ideal.


Why is it not worth the effort?  We get to keep a mineable coin that is immune to a 51% attack and has a cool POS feature.


There needs to be a reason for investors to buy the coin.  What reason can we give them?  Our best hope was to build a strong community like dogecoin.  We had a lot going for us, ip license, huge nyancat following on FB and Twitter, a fun meme. So far though it hasn't panned out for reasons you have described (terrible conversion rate from the nyancat facebook page etc etc).  We could abandon the community/tipping/newbie friendly/ fun coin route and try to market the coin to investors, but it just seems like the wrong move to me. Would you invest in a coin based on a poptart cat internet meme with no community?  Our only hope in my view is to try to build a community, and I think it would be much harder to do that without mining.


I am a scientist working 60 hr weeks, with a super high maintenance gf and 2 cats , I often don't have time to respond to every point.    If we go pure POS I will still support the coin, just think it would be a mistake. I appreciate what you are doing for the coin and the subreddit, I know you're pushing what you think is right for the coin.

X-11 w/ reduced block rewards is impossible because it would lead to too low of a network hash rate to protect the coin from 51% attack.

X-11 / POS hybrid with reduced block reward would lead to even lower POW hash rate. Even though it will be protected from attack by the POS portion, it is still not really worth all the effort.

If miners want to join the NYAN community, they can easily mine other coins and buy NYAN. That was what I was doing for quite some time myself, mining NYAN directly isn't the most profitable and I could get more NYAN simply by buying after mining something else like DOGE. Changing to POS from POW does not lead to people not joining the community, they will do so anyways by buying. In fact, if the coin is attractive to investors, we'd actually get more of a community than we have now. I think most of the crypto community nowadays aren't even miners, they are investors. (i.e. blackcoin proved that you can get plenty of interest and a community even after the coin has switched fully to POS from POW).

I have been explaining these points to you over and over again simcom, but you don't seem to answer them at all...

Can I vote no confidence?

X-11 / POS hybrid was the best option, as the first poll clearly indicated.

The 2nd best option would be:

X-11 w/reduced block rewards - why isn't this one of the choices? 

As for the pure POS, how are we going to get new people excited about NYAN if they cannot mine it??   In order to attract investors we need a community, and to build a community we need a mineable coin.

POW ... POS ... KGW ... bebebe

>> is a ton of work for just a one time use for voting...


I am speaking about how to use coins and about way to involve NYAN (not nyancoins) lovers.

POW ... POS ... KGW. who needs a way to implement without the possibility of implementing their coins?

Wait what? Just vote from the poll at the top of this thread. What you just described is a ton of work for just a one time use for voting...

Edit: Also, I think one person should count for one vote. Otherwise, it's too skewed in favor of bagholders and will end up with POS for sure. (I am for POS, but I think we should reach that conclusion fairly as a community with equal voices)...your idea benefits me probably more than anyone else here but I still think it's unfair.

A lot of coins went to Chris to get the license. I think composed of a greater portion than the bounties that were given away.

And how are you going to count the votes?

We can for example create a certain number of payment addresses corresponding to the number of voting options.

And after 48 hours, let implementation will begin, the implementation that will get the largest number of coins.

But after 48 hours, all coins should be returned to the address from which they were transferred.

Of others, but I would such a voting system liked )

And such method of voting imho can be used for voting on any question, perhaps this could be one of the a way of using coins for NYAN lovers

(of course, with some automation and limitations, that we can discuss here, if it would be interesting)

Shouldn't we know what we are getting into with PoS before we agree?

Must have been too great of bounties then early on, 1.5 million nyan given away within what, a month? 

The amount of coin generation and all these things are open questions that should also be discussed as a community. As for the premine coins, I have it from the dev that they no longer hold most of them. A lot were given to Chris and a large amount were given away for promotion and bounties. I don't know how much they still hold exactly but it's definitely less than half of the premine.