Topic: [ANN][SCRYPT] KlondikeCoin ★ Cryptsy.com ★ Prepaid VISA Cards ★ 0% Premine [KDC] - page 13. (Read 554375 times)

What's the story, morning glory? 

I disagree if there's an announcement of who is buying what, in the official thread, like so:

Person "A" is buying "x" amount of KDC to donate for bounty/fund "z".

Transparency at it's best. It doesn't have to be you Fuse, any community member can do this, but the follow-through of why they are buying the KDC is key as to not set off flags for that pump and dump scenario.

People with KDC could sell some of their KDC the old fashioned way via the WTS or WTB in the forum here. If an escrow is necessary, I can make my services available once we have a wallet up and running, and I can provide details such as credentials. But this is down the road. Feedback on this would obviously be necessary before you make the premine block.

Current volume is the issue with trying to buy out existing coins on the exchange.  Additionally, it could be perceived as an attempt to pump and dump.  Honestly, I'd much rather mine a single block for the pre-mine and not worry about the exchange and user donations as a means to raise coin capitol.  Users donated a lot to this coin originally, and look where it ended up.  I don't want users having to go through that again.

As far as a pre-mine amount goes, I was thinking something in the ballpark of 500k-1mil.  The problem with picking a number is what happens if KDC skyrockets and the coin becomes extremely valuable?  On the other hand, if we don't pre-mine enough and the coin stays at current levels, your talking pennies.  1 million KDC at current rates is less than $400.  It's a drop in the bucket at current rates, and it isn't going to get us anywhere until the community starts getting involved again and the coin is working.  Essentially the pre-mine will come in to play a few months down the road when this coin comes back to life.

Another thing to note is if the community wants to donate their money towards making KDC a viable altcoin, I'd rather see them work on individual projects to promote the coin rather than throwing money at the team and developers.  Take the $10, $25, $50 in BTC you were going to use to make a donation and make some info sheets to send to coin shops and PM dealers.  Put together business cards sized info cards to hand out to people.  Buy a shirt with the KDC logo on it and where it places where people will ask what the shirt is about.  IMO, that's a much better use of community funds if a pre-mine can take it's place.

-Fuse

About the premine you suggest, I think it would be better just buying out some coins and donating some to the team. The price is really low right now and it would help stimulate the market a bit, could catch more peoples attention. There isn't many for sale as far as I can see on cryptsy tho, what amount did you plan to premine for development and such?

What I made blue above, I know it had nothing to do with me. I was stoking the forum brainstorm, to attract people.

Yay, new wallet release coming soon!

I fully appreciate your comments, and I welcome any suggestions you may have.  My comment about the community not commenting was more towards anyone that may be reading this thread and not commenting, not you.

I'll be working on verifying all the code this weekend, and running a small testnet.  If all looks good, I'll post the updated code by Monday.  Between now and then, we can continue the conversation and see how things go.

-Fuse

I am very anti-Gaw. So anti-gaw that I still have an $850 store credit I haven't used, and probably can't since they don't offer anything for sale at their website. He thinks he's won an extra $850 but I never accepted terms to have a "store credit" and is why I haven't used it after selling me an ASIC with double the power specs than advertised. (I also have over 20 emails of how GAW tried to sucker me into buying 3 or 4 5-chip gridseeds for $1200 when they were selling for $100 a pop, and that's if I bought a bulk amount - math doesn't lie.) I offered him to pay me in LTC or BTC in exchange for my store credit, I'd even take less than $850 in coins, I have since deleted any posts about that but the offer is still there, Mr. Garza -- if you're reading this. But that's my personal thing. So yeah. I'm anti-GAW and see right through everything he does. I was DEFINITELY just pointing out about his original investor and financial backing, not his methods of obtaining more $$$ at the expense of the world. I hope this made my reference clear enough now.

Anywho, back to KDC.

Fuse, everything goes hand-in-hand. I guess that's the point I was trying to bring across, to attract miners, we need more than blockchain stability although that's a start. There's no way to check on the blockchain or obtain a wallet so I wouldn't be able to speak on that, I've picked up a few coins along the way as I saw opportunity but I can't even put them in a wallet. I see your point but you made it sound like you didn't want to put in the effort if no one commented, so I commented and then commented some more.
So all these ideas I'm flooding the forum with are meant to stimulate more conversation and to spark interest and keep you going, my friend.


To requote you on the issues at hand:
...our focus right now needs to be blockchain stability and mining adoption.  When we can provide solid foundations to build on, we can look for investments to make some of those wow moments to happen
I feel it's going to take more than just fixing the what the other dev left behind. Sorry if I'm throwing things off-course, it's just my experience and observations for the last 1.5 years that have been leading me to say the things I've said, and you know I'm all for the greater good. I was trying to attract those miners we are trying to gain. Maybe I am a minute too early, maybe not. We'll see. I support you in however or whichever way you decide to go. I know you aren't looking negatively at my ideas and are fully receptive, like we both say, maybe it's just the wrong time.

I'm also trying to bring awareness to the BCT community by keeping KDC up front in the altcoin forum, and that I know we are doing well.

Lets be honest about the outlook.  For KDC to become a valid altcoin, especially with it's current branding, it will need to be tied to gold in some way.  Whether thats a partnership with Amagi/Agora or similar, or directly tied to the fluctuating price of gold(which is an idea that I am proposing for future updates).  Either way KDC needs to have a purpose.

At this time, we're not talking about purpose.  That shouldn't even be in our vocabulary until we can provide the basic services and features that this coin needs.  These services should include exchange trading, a block explorer, mobile wallets, and most importantly- steady, consistent mining.  The blockchain is the heart of any coin.  If it stops beating, or it beats irregularly, you have problems.  So for the time being, my primary focus is to get mining to a place that will sustain heavy adoption by miners.

As far as the pre-mine/bounty-mine goes, I am in full agreement that it should be a publicly accountable entity.  All transactions will be recorded in a ledger, viewable by the community.  Bounties and fees will be approved by the community before large amounts are spent on outside dev work.  Transparency is key here.  If I had to compare the proposed rollout of the pre-mine to another coin, I would say NLG(Guldencoin) would be the desired model.

I don't necessarily agree with the idea of promissory notes, or bonds, of any kind.  It screams IPO to me, and I don't want to be responsible or accountable for any failure to repay investments.  While investors would be nice, we need to get to a place where we have purpose for the investment.  And as I've said before, our focus right now needs to be blockchain stability and mining adoption.  When we can provide solid foundations to build on, we can look for investments to make some of those wow moments to happen.

100% agree with the statements about snake-oil.  I'm not about smoke and mirrors practices, and neither are my team.  I'm sure Halofire agrees, and his statements were more about the investor backing of GAW rather than GAW itself.  He's been pretty clear in the NLG thread that he's anti-GAW.  As am I.

-Fuse

I'd be really hesitant to use GAW as an example...scamming people isn't the way to do it either.  His BS PR campaign and company that "bought" the domain BTC.com from his other company for 1million dollars so they could say they bought it for 1mil, when in fact, that money doesn't exist.

I get how pre-mining is like the fed to some degree, which is why I expressed how I didn't like the idea to begin with, making it investor-centric seems like it games the system into becoming a pump and dump.  I don't really know how to solve this issue, but like I said, don't use GAW's impressive snake oil sales as an example.

I'd rather see people invest btc into bounties versus seeing a bounty-mine of sorts. Should never use the currency we are trying to build up in the sense of coding more, it dilutes itself as we are now acting like the FED and printing money to ensure KDC success. Agreed that it's a one time deal, but see the parallel? Not a guarantee that people with think that this is a problem, it may not be.  But even if Fuse coded in a million KDC, that's $300-400? The possible short-term negative impact could be more than the worth of the amount of KDC being put in a bounty-mine ---- unless he's buying gold with it, and there's not much gold he can buy with that. Credibility is still not the issue here, Fuse is the man and Criptoe is the team behind/with the man!

The solution is to find investors with BTC in hand. It will take the faith of a few people with a few btc to spare. To do this, miners who are holding a LOT of KDC may be called upon to sell some of their stashs via escrow for BTC to be held by Criptoe, or issue promissary notes to those investors to be rewarded after KDC really kicks off. We need investment backing, not for price exploitation either. A small pump would be good to draw the crowd back to signal that KDC is back, mainly for the people watching the exchanges, but nothing to high. Moderation is key with that. And we're going to have to escrow all the gold and btc collected into a KDC, L.L.C. holding company. Time to get serious and official if we want KDC to live. That's down the road, yes, but it can't be too far down the road.

So Fuse, if you want to code in the bounty-mine, go for it. While it's not going to affect the long term as it's a drop in the bucket, it's not going to affect the short term either unless KDC is worth more today or tomorrow, but short-term with with a chance of negative impact. If I'd start to invest $1000's in to KDC, I'd definitely want some of the bounty-mine, so that means you're going to have to sell the bounty-mine at a much higher price than what's available at cryptsy. I'm not saying I'm going to invest $1000's, but ya never know. But that's the mindframe we need to have. Think about how GAW raised all the money to get where Garza is today with his bank investor guy, I forget his name at this moment, and aside from the other businesses Garza owns. But point is, GAW has financial backing up the arse. We need to replicate.

I started mining this pretty early from initial launch, and my holdings are literally worth about $5.00 now, so if you want to re-work the code to get this ship sailing again, by all means, make it worth something.  I think the goal should be to get onto Shapeshift.io as quickly as possible, and they are connected with Cryptsy (don't know how much, possibly just API).

That way, Amagi and any other bullion dealer can easily work with KDC, because they can immediately convert it to BTC.

So anything you do to revive any life back into this project, you have my blessing, buyout and lets call it a "Bounty-mine" (Pre-mine sounds solely beneficial to the creator).  Write some code, I'll try to let people know about it.

If the pre-mine was strictly a "bounty-mine" and the addresses and rewards were public and maybe even added to this thread, I think it'd go over better than if it's done at all privately, this coin was supposed to be 0% premine, but clearly that led to a lack of development, so bounties may be better, especially if those bounties included physical gold bullion. 

It'd be awesome to make a physical KDC coin.

So how about posting some feedback on the proposed changes?

If we take over the coin, we want to make sure we're gaining users, not losing them because we upset large holders on a relaunch issue.  How do you feel about the changes I posted to get started again?  How do you feel about a pre-mine for bounty and development use?  If you're opposed to the pre-mine, how should we go about raising money for outside development?

I want to hear the community's opinion.

-Fuse

Had been waiting for some movement on this coin since the first time criptoe posted here

Just make sure we have a set minimum number of people involved, if it's just 5 of us or so, no point.

There's one way to preserve your KDC minings. Get active, tweet, give some additional input. It's up to us to lead this coin. Criptoe is here, waiting and ready!

Fuse, let's jumpstart this coin! $50 buys a gram of gold with papers. Offer it up for contest of your design! I'll send you $25 USD if you like.
http://www.ebay.com/itm/1-Gram-9999-24K-GOLD-Premium-IGR-IAR-Bullion-Bar-/251791161699?pt=US_Bullion_Bars_Rounds&hash=item3a9fec3963

APMEX.com is even safer if you don't want ebay, but ebay is more private from the prying eyes...

I'm curious if it is worthwhile also, I'm a little disappointed it just died, then again, I couldn't continue mining it when Litecoin took back profitability, so I'm not terribly surprised, and really it seems like it didn't offer too many new features, just some gimmicky ones.  Some of your proposed changes seem intriguing, though I'm just hoping my months worth of mining is worth more than 5 bucks.

This is why I suggested to do a little PR campaign to bring people back. There are definitely some investors watching on the sideline. How many KDC are in circulation?

Would be nice to get an explorer up and running. It's the little things we need to re-jump start. Saying you will do work is just that, people need a reason to mine and give feedback. I've given plenty of ideas, via public posts and PM's. Even if it's just a couple of people right now, faith from those few people will be strong enough. Don't dismiss the silence here until you actually start doing work that the rest of the world can see.  For KDC to be maintaining the range it's maintaining on cryptsy for all this time shows that people are still aware of this coin. Maybe do a lil pump to 300-400? Maybe get KDC on trex? Maybe an article by bitcoinmafia?

Also, keeping KDC at the front of BCT's altcoin section by posting shows that the coin is alive and not dormant.

I'd love to get KDC accepted on Amagi or Agora, but I feel we have a long way to go.  We need to get people to participate in the discussion here first

Which brings me to another question.  Is it too late for KDC?  I'm ready to put some time into getting this running again, but is the community interested in bringing this back?

-Fuse

https://www.amagimetals.com/info/btc-as-legal-tender-in-california/

Read the title of the link!!!!!
Explains all, and is a step closer to full fledged US adoption.

erhmmm...... Fuse...... time to get these sites on par with KDC.

So.........

KDC needs a relationship with gold. Whether being back by gold or being used to buy gold, like at Amagi or Agora metals.

https://agoracommodities.com/
https://www.amagimetals.com/

Both of these websites accept BTC for gold and other precious metals.