Topic: [ANN][OSMO]100% premined PoS, energy save, interest earn, decentralised crypto - page 3. (Read 8383 times)
March 06, 2014, 01:09:33 AM
As previously noted, this is required on every page of every IPO. If you don't know why then you should not be investing into a supposed IPO.
March 06, 2014, 01:06:57 AM
pool
March 06, 2014, 01:05:29 AM
Please, enough.
How about we support the coins we already have?
Oh yea, then you wouldn't be able to get rich quick. I forgot. Silly me.
How about we support the coins we already have?
Oh yea, then you wouldn't be able to get rich quick. I forgot. Silly me.
March 06, 2014, 12:51:38 AM
March 06, 2014, 12:41:50 AM
THIS IS FUCKING RIDICULOUS, ITS MADNESS, ITS ABSURD, This is going to happen?
March 06, 2014, 12:37:12 AM
1st post and creating a 100% IPO...
Watch out everyone.
Watch out everyone.
March 06, 2014, 12:35:09 AM
The scumbag team generated another scumbag coin, congrats.
March 06, 2014, 12:31:23 AM
pool-
March 06, 2014, 12:18:46 AM
free coins thanks 
In this situation a faucet would be impossible sorry. March 06, 2014, 12:10:06 AM
[ANN][OSMO] Osmosis - 100% premined proof of stake, energy saving, interest earning, decentralised cryptocurrency. [OSMO][ANN]
http://s17.postimg.org/ifv05oiqn/osmosisedii_Sized.gif
Symbol: OSMO
Please stay tuned to this thread for important updates including IPO stakeholder confirmations with the final list of investors, public keys and addresses.
http://s17.postimg.org/ifv05oiqn/osmosisedii_Sized.gif
Symbol: OSMO
Please stay tuned to this thread for important updates including IPO stakeholder confirmations with the final list of investors, public keys and addresses.
Innovations and Contributions
Based primarily on peercoin and with a few ideas borrowed from mintcoin, preminecoin and heavycoin (mostly for the IPO structure).
Our plan is to instamine all the coins from the genesis block and distribute them proportionatly to our investors on launch day.
Total number of coins will be 15,482,880 with 1% inflation per year paid to each wallet containing coins which meet the PoS criteria being 20 or more coin days held in the same wallet.
There will be a fixed block reward of 0.1 OSMO for the life of the coin.
Goals
Create a sustainable and environmentally friendly medium of exchange freely available to be used by all.
Provide long-term open source development, support and maintenance.
Build a great community of stakeholders.
Specification
Proof Of Stake (mostly).
Algorithm: Scrypt
Block time: 2 Min
Retarget up: Every 5 blocks (max 100%)
Retarget down: Every block (max 200%)
Block reward: 0.1 OSM
Total supply: 15,482,880 + 1% PA
Premine: 100%
Dates and Info
IPO dates: March 6th - March 13th, 2014
Mining launch: March 15th 05:00 UTC (forum time).
Wallets: Windows, Ubuntu, and Debian available at launch.
Mac OSX wallet will be finished before Monday, bit more testing.
IPO Details
To invest simply send Bitcoin to the IPO address using one of the procedures outlined below.
As with all investing, investments are final and not refundable.
Investments must be received before 00:00 UTC March 13th, 2014.
Funds received after this time will be returned to sender, with the possible loss of minimum Bitcoin transaction fees.
Key Info
Start date: Thu Mar 6th 05:00 UTC.
Cut-off date: Thu Mar 13th 05:00 UTC.
Osmosis IPO address BTC: 1LFGEmdZtdjukfUbR69DTL4KTwiD5ymwDL
http://s3.postimg.org/pl2j8gotv/osmosis_IPO.png
Total IPO investment received so far: 0 BTC.
The 15,482,880 OSMO will be distributed among the IPO investors proportional to how much BTC they have invested.
There is no limit on the amount of BTC investment.
The free market will determine the OSMO exchange rate, for example:
FAQ
1.What is PoS?
PoS: Proof of Stake.
http://en.wikipedia.org/wiki/Proof-of-stake
2. what is the line Stake in wallet?
It is for the PoS blocks. Once a PoS block generated, some of your coins plus the generated interests will be moved to "stake", it is like "immature" for PoW. It will take 50 confirmations to mature, after mature the coins plus interests will be added back to your balance.
3. what does that mean in the wallet : Minting suspended due to locked wallet?
This says you can not do mining due to wallet encrypted.
you need to unlock the wallet in order to mine (for example for PoS blocks):
osmosiscoin-qt -server
osmosisd walletpassphrase true
still unclear? read this post
4. Do I have to let my wallet open to get PoS coins?
PoS will be generated after at least 20 days holding of the coins in your wallet. You don't need to keep the wallet open all the time. The coin-days accumulated in your wallet will not be lost. The next time when you open the wallet client, the internal miner will start automatically and if the coin holding period meet certain requirements the pos blocks will be generated based on the coin-days in your wallet.
5. How often do I have to open the wallet in order to get PoS coins?
See above. You don't need to open wallet all the time, your coin-days accumulated in the wallet will not be lost.
6. Why I can't sync?
Use addnode in the conf file. The addnode list and sample conf file are posted above.
If you use Windows, the Osmosis config dir is usually at c:/users/*yourcomputername*/AppData/Roaming/Osmosis, in which you should see your wallet.dat and peers.dat files. If the osmosis.conf file is not there, create it using the above example (you don't need to include all the addnode lines, include some will be ok). Restart your client, you should be in sync within a few minutes.
7. Do I have to wait 1 year to get the PoS interest?
No. PoS blocks will be generated after you hold some coins in your wallet for certain period of time. For Osmosis the minimum requirement is 20 days. If you move around the coins (for example send to other wallet and then send back), the time will reset for those moved.
8. The PoS generated coins, are they eligible for new PoS block generations?
Yes. After maturity (50 confirmations), the coins will move from "Stake" to "Balance". Once the PoS generated coins in "balance", they will be the same as all other coins, and are eligible for future PoS generations.
9. When I transfer some of the coins from my OSMO wallet, are they the newest coins or does it disrupt the proof of stake process of my older coins?
Any "moved" coins the pos time (coin-day) will be reset for them. It will not affect other "unmoved" coins in the wallet. The PoS will be generated if there are some coins in the wallet satisfying minimum requirements, and the amount generated will be based on the coin-day the total eligible coins have in your wallet.
1.What is PoS?
PoS: Proof of Stake.
http://en.wikipedia.org/wiki/Proof-of-stake
2. what is the line Stake in wallet?
It is for the PoS blocks. Once a PoS block generated, some of your coins plus the generated interests will be moved to "stake", it is like "immature" for PoW. It will take 50 confirmations to mature, after mature the coins plus interests will be added back to your balance.
3. what does that mean in the wallet : Minting suspended due to locked wallet?
This says you can not do mining due to wallet encrypted.
you need to unlock the wallet in order to mine (for example for PoS blocks):
osmosiscoin-qt -server
osmosisd walletpassphrase
still unclear? read this post
4. Do I have to let my wallet open to get PoS coins?
PoS will be generated after at least 20 days holding of the coins in your wallet. You don't need to keep the wallet open all the time. The coin-days accumulated in your wallet will not be lost. The next time when you open the wallet client, the internal miner will start automatically and if the coin holding period meet certain requirements the pos blocks will be generated based on the coin-days in your wallet.
5. How often do I have to open the wallet in order to get PoS coins?
See above. You don't need to open wallet all the time, your coin-days accumulated in the wallet will not be lost.
6. Why I can't sync?
Use addnode in the conf file. The addnode list and sample conf file are posted above.
If you use Windows, the Osmosis config dir is usually at c:/users/*yourcomputername*/AppData/Roaming/Osmosis, in which you should see your wallet.dat and peers.dat files. If the osmosis.conf file is not there, create it using the above example (you don't need to include all the addnode lines, include some will be ok). Restart your client, you should be in sync within a few minutes.
7. Do I have to wait 1 year to get the PoS interest?
No. PoS blocks will be generated after you hold some coins in your wallet for certain period of time. For Osmosis the minimum requirement is 20 days. If you move around the coins (for example send to other wallet and then send back), the time will reset for those moved.
8. The PoS generated coins, are they eligible for new PoS block generations?
Yes. After maturity (50 confirmations), the coins will move from "Stake" to "Balance". Once the PoS generated coins in "balance", they will be the same as all other coins, and are eligible for future PoS generations.
9. When I transfer some of the coins from my OSMO wallet, are they the newest coins or does it disrupt the proof of stake process of my older coins?
Any "moved" coins the pos time (coin-day) will be reset for them. It will not affect other "unmoved" coins in the wallet. The PoS will be generated if there are some coins in the wallet satisfying minimum requirements, and the amount generated will be based on the coin-day the total eligible coins have in your wallet.
Jump to: