I didn't think you knew how it was going to be done in this case but what are some other ways they are conducted whether with or without the help of an exchange? I've never seen or witnessed one done so don't know how they are accounted for.
we did with droidz and the 'new' drz coin that replaced the old coins and wallet and blockchain ...
it can be done in a number of stages - but the way we did it was through two stages ( only after a premine of the total coins held in the current blockchain ) ...
1 - exchanges will HAVE to change over if it is to be successful - and swap drz coins for 'new' drz - simply by depositing coins into the exchange and the exchange puts the old wallet offline then activating the new wallet and assigning the ( already deposited coins prior to the swap - organized by the dev ) new coins for the old ...
not all exchanges will cooperate ( like bittrex ) but ccex and yobit did a grand job ...
2 - using an escrow ( like sebatianju - as i have suggested but yet to implement ) for the remainder of the coins ...
then when all have been swapped - and AFTER the deadline and cutoff for the swap - the remainder of the coins not claimed ( or excess from the premine ) are burned ... or used - with the communities / investors consent ...
not easy - but simple enough ...
ill discuss this with soopy if he needs any help with it when i speak to him next ... IF that is the way he wants to do this ... AND ill be more than happy to help in any way i can - as soopy has helped me in big ways in the past ... lots of respect for him ...
#crysx
Thank you crysx,
The more help the better off we are! I appreciate your ideas and input. I think bittrex would be willing to help us. Start with a new genesis block would be easiest.
That all makes sense. Thanks for the response. I've never seen one of these and can imagine it could be confusing but have confidence this community will figure it out in good fashion.
1. In the case of the first option; I have used bittrex.com extensively and consider it a very good exchange. If this option is chosen would that be the only option as it would have to run from a central place? Do they have withdrawl limits of any kind? In order for this option to work, all current users would have to set up an account there?
2. Using an escrow >> is there any more info on how this process works? How does the process of sending coins in work? How does the escrow know who to send the new coins to?
1. Yes, unless we have leftovers if they don't get burned by bittrex. Withdrawal limits would be stated on their website. Current users could use their current account or you can make a new one just for the swap, this is what I would have to do with the development fund since I don't want to do it through my personal accounts anywhere.
2. An escrow: 3rd party or not, it can be done through a trusted person manually or automated through a website.
I think it can also be done through a contract like ETH can offer, using private keys to validate what you can redeem.
I've only had one swap in my experiences. It was done through a website -- you get an address to send your old coins to and you fill out the address you want your new coins sent to, and the process sends you your new coins.
bittrex have done a few swaps in their time - but they WILL NOT do them for free now ...
they will only do things like this when it benefits them to do so - like getting paid or expecting high volume with the new coins ...
it is a LOT of work for the exchanges to go through this method - to make it easier for us ( the community ) to swap the coins we hold ...
the most helpful in this situation ( and the only ones that actually DID the swap ) were ccex and yobit ... bittrex didnt want a bar of it ... as friendly and 'helpful' as richie is with communications and demeanor - he states quite emphatically that bittrex 'prefer' not to do such swaps - and will more than likely not go through with a swap - which is why a charge for the procedure will be imposed ... not only that - but the 'new' coin will be looked at as just that - a new coin ...
so unless soopy and richie ( or others in bittrex ) have a great relationship with one another - the new coin will be taken with the same scrutiny as any other coin that wants to get into bittrex ... i should know - as this is an ongoing thing with my own coin ...
bittrex itself is an awesome exchange - but btc plays a huge part in the decision making process behind the scenes - as well as 'who you know' ... lets hope soopy is considered 'good' with richie / bill and the gang ...
otherwise - the guys at ccex and yobit have been MORE than helpful with the swap procedure as well as the issues that arose ( and they DO arise ) ...
as for the escrow - that should only ever come in ( and its not difficult to implement - as halofire mentioned ) when the ones that dont trade coins wish to swap from the old wallet to the new wallet ...
eitherway - there should ALWAYS be a cut off date long enough for everyone to have the chance to change ...
once again though - soopy is a master at his trade - so its will be ultimately his decision as to what will be the outcome ( and what is easiest for him to implement ) ...
#crysx