[Donated $2k+ To Charity] Clean Water Coin: A Crypto Charity (Pure PoS) - page 104.

Aur3

sr. member

Activity: 378

Merit: 250

Embrace change

Quote from: Tekkerr on April 07, 2014, 10:47:47 AM

Quote from: zhouhuiyan520 on April 07, 2014, 10:33:47 AM

I agree with you. I am not an IT guys, but I guess they could shut down all the nodes, release a new client with reversed blockchain, new nodes and reforked to 7000 block. If the argument against it is 60% of people will have to accept the change, then I am pretty sure all the Clean Water Coin supporters will do that and we will operate on the right fork, while the second one with 450.000.000 coins (1/2 cap value) will die eventually.

Honestly, if they fork at 8000 leaving all those mined coins, I'm out. This is the worst thing they could do for CWC.

What about the coins, people bought between those 7000-8000 on an exchange, they will vanish, those are hard Bitcoins worth you are trying to delete ... I don't know but it's not that simple as just reverting a blockchain.

That would be stupid, it's like 5BTC++ we are talkin about.

Tekkerr

member

Activity: 82

Merit: 10

Quote from: zhouhuiyan520 on April 07, 2014, 10:33:47 AM

I agree with you. I am not an IT guys, but I guess they could shut down all the nodes, release a new client with reversed blockchain, new nodes and reforked to 7000 block. If the argument against it is 60% of people will have to accept the change, then I am pretty sure all the Clean Water Coin supporters will do that and we will operate on the right fork, while the second one with 450.000.000 coins (1/2 cap value) will die eventually.

Honestly, if they fork at 8000 leaving all those mined coins, I'm out. This is the worst thing they could do for CWC.

What about the coins, people bought between those 7000-8000 on an exchange, they will vanish, those are hard Bitcoins worth you are trying to delete ... I don't know but it's not that simple as just reverting a blockchain.

IntroVert

full member

Activity: 265

Merit: 119

We are now at block 7730, putting us about 9 hours away from the fork. This means there is enough time for the team to explain what exactly happens at the fork. For a coin that made communication early on one if its major strengths, makes the lack of updates really disconcerting. Understanding that you are in crisis mode, we need to know what is the exact path forward chosen here.

zhouhuiyan520

full member

Activity: 182

Merit: 100

Community

I agree with you. I am not an IT guys, but I guess they could shut down all the nodes, release a new client with reversed blockchain, new nodes and reforked to 7000 block. If the argument against it is 60% of people will have to accept the change, then I am pretty sure all the Clean Water Coin supporters will do that and we will operate on the right fork, while the second one with 450.000.000 coins (1/2 cap value) will die eventually.

Honestly, if they fork at 8000 leaving all those mined coins, I'm out. This is the worst thing they could do for CWC.

Palaxidon

sr. member

Activity: 462

Merit: 250

Hi, Im Bitcoin trader and crypto enthusiast.

Quote from: ibfragalot on April 07, 2014, 06:30:52 AM

I'm not sure why some people complaining so much? I had never heard of this coin until today when I saw it on top of the topics. Now I'm mining as it seems like a good time to jump in, and I've voted for WATER at MintPal.

I only have a tiny rig so can't get massive profits but still I'm not jealous of those with farms who would have got lots of coins during the issue. Is it just jealousy some people were lucky?

Or is it another coin (h20) doing some FUD and trying to steal users?

In any case I think the attention this coin has now got far outweighs the issue with a few hours of big rewards.

I cant agree more with you! +10000

gpools

sr. member

Activity: 364

Merit: 250

+1

Napping

newbie

Activity: 49

Merit: 0

I dont' understand the whole fork concept. do I need to get new wallet? what happens to old wallet/ coins in it?

jeffminer

member

Activity: 112

Merit: 10

Quote from: ibfragalot on April 07, 2014, 09:03:18 AM

While a handful of you are whining like teenage girls who just got their allowance garnished by daddy, everyone else is buying a nice stash of coins at crazy prices and getting on with our lives Grin

6/10 needs moar dramatic threats to leave

+1

ibfragalot

member

Activity: 98

Merit: 10

While a handful of you are whining like teenage girls who just got their allowance garnished by daddy, everyone else is buying a nice stash of coins at crazy prices and getting on with our lives Grin

6/10 needs moar dramatic threats to leave

Tekkerr

member

Activity: 82

Merit: 10

Quote from: platorin on April 07, 2014, 08:36:37 AM

Quote from: Tekkerr on April 07, 2014, 08:26:41 AM

Quote from: platorin on April 07, 2014, 08:19:40 AM

Quote from: IntroVert on April 07, 2014, 07:57:46 AM

If the blockchain is not reversed to block 7000, then the most rational behavior is to dump all mined/bought coins relatively quickly. If not, then due to this error, all early supporters and miners will have been diluted into oblivion. Also, if the total issue of coins is still at 1 billion, the miner reward will have to decrease drastically, and for lot of people there would be no incentive to mine CWC. In addition, you have no assurance that this kind of thing would not repeat again, so if you let the post error coins stand, you are only assured that they will live by the next fork whenever that happens. So why keep those coins and not exchange them for something more established that would keep value?

The team should let us know if the total number of coins and mining rewards will now change.

True. If we won't start again from block number 7000, those who supported the project from its begining will lost the most including the project itself. There is a lot of greedy people buying/selling/mining at this moment. I very much doubt they care anything about charity and basic CWC idea. I, also, am convinced many valued supporters will leave the community and the project will not support water to anyone due to its instability.

Well I was mining for at least 5 day's before this happened, want me to stop mining now when I have done in 15 minutes what I have done in 10+ day's ?
No you can't be willing that, so I am still mining this, and will keep on mining later, the project is nice. But if I miss out any of my coins pré- or after fork I will move on immediately ... Coins worth a bunch or not, it really doesn't matter what they are worth !

You need to understand that the basic idea of CWC was to provide water to those who need it. To do that, the coin needs few vectors. The most important are:

1. Community
2. Stable distribution
3. Stable price growth
4. Trust

Which, do you think, will not fit if we leave 450.000.000 coins? It's not a matter of how many YOU DID mine. It's rather the importance of those four points above and contradiction which the issue with those 1000 blocks brought.

Simply, leaving those coins will make the project loose its basic ideas of charity.

THAT IS WHAT WE SHOULD CARE ABOUT.

I agree and well, I could mine a percentage off those 450.000.000 and if people care enough about the charity, they could jump in and lease a rig and damage control, it doesn't cost allot to do so if you'r with allot.
Maybe hold and/or reserve a few cwc for donation ? That would be community, not yelling and screaming here ...

MineP.it

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Activity: 182

Merit: 100

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platorin

sr. member

Activity: 392

Merit: 250

Quote from: Tekkerr on April 07, 2014, 08:26:41 AM

Quote from: platorin on April 07, 2014, 08:19:40 AM

Quote from: IntroVert on April 07, 2014, 07:57:46 AM

If the blockchain is not reversed to block 7000, then the most rational behavior is to dump all mined/bought coins relatively quickly. If not, then due to this error, all early supporters and miners will have been diluted into oblivion. Also, if the total issue of coins is still at 1 billion, the miner reward will have to decrease drastically, and for lot of people there would be no incentive to mine CWC. In addition, you have no assurance that this kind of thing would not repeat again, so if you let the post error coins stand, you are only assured that they will live by the next fork whenever that happens. So why keep those coins and not exchange them for something more established that would keep value?

The team should let us know if the total number of coins and mining rewards will now change.

True. If we won't start again from block number 7000, those who supported the project from its begining will lost the most including the project itself. There is a lot of greedy people buying/selling/mining at this moment. I very much doubt they care anything about charity and basic CWC idea. I, also, am convinced many valued supporters will leave the community and the project will not support water to anyone due to its instability.

Well I was mining for at least 5 day's before this happened, want me to stop mining now when I have done in 15 minutes what I have done in 10+ day's ?
No you can't be willing that, so I am still mining this, and will keep on mining later, the project is nice. But if I miss out any of my coins pré- or after fork I will move on immediately ... Coins worth a bunch or not, it really doesn't matter what they are worth !

You need to understand that the basic idea of CWC was to provide water to those who need it. To do that, the coin needs few vectors. The most important are:

1. Community
2. Stable distribution
3. Stable price growth
4. Trust

Which, do you think, will not fit if we leave 450.000.000 coins? It's not a matter of how many YOU DID mine. It's rather the importance of those four points above and contradiction which the issue with those 1000 blocks brought.

Simply, leaving those coins will make the project loose its basic ideas of charity.

THAT IS WHAT WE SHOULD CARE ABOUT.

johnies

newbie

Activity: 44

Merit: 0

Quote from: Tekkerr on April 07, 2014, 08:26:41 AM

Quote from: platorin on April 07, 2014, 08:19:40 AM

Quote from: IntroVert on April 07, 2014, 07:57:46 AM

If the blockchain is not reversed to block 7000, then the most rational behavior is to dump all mined/bought coins relatively quickly. If not, then due to this error, all early supporters and miners will have been diluted into oblivion. Also, if the total issue of coins is still at 1 billion, the miner reward will have to decrease drastically, and for lot of people there would be no incentive to mine CWC. In addition, you have no assurance that this kind of thing would not repeat again, so if you let the post error coins stand, you are only assured that they will live by the next fork whenever that happens. So why keep those coins and not exchange them for something more established that would keep value?

The team should let us know if the total number of coins and mining rewards will now change.

True. If we won't start again from block number 7000, those who supported the project from its begining will lost the most including the project itself. There is a lot of greedy people buying/selling/mining at this moment. I very much doubt they care anything about charity and basic CWC idea. I, also, am convinced many valued supporters will leave the community and the project will not support water to anyone due to its instability.

Well I was mining for at least 10 day's before this happened, want me to stop mining now when I have done in 15 minutes what I have done in 10+ day's ?
No you can't be willing that, so I am still mining this, and will keep on mining later, the project is nice. But if I miss out any of my coins pré- or after fork I will move on immediately ... Coins worth a bunch or not, it really doesn't matter what they are worth !

Well Mr. At Least 10+ Days, the coin launched a week ago. And for the rest of it, I couldn't make out anything more of it than a large written sentence: 'I'm greedy lying sob'.

Tekkerr

member

Activity: 82

Merit: 10

Quote from: platorin on April 07, 2014, 08:19:40 AM

Quote from: IntroVert on April 07, 2014, 07:57:46 AM

If the blockchain is not reversed to block 7000, then the most rational behavior is to dump all mined/bought coins relatively quickly. If not, then due to this error, all early supporters and miners will have been diluted into oblivion. Also, if the total issue of coins is still at 1 billion, the miner reward will have to decrease drastically, and for lot of people there would be no incentive to mine CWC. In addition, you have no assurance that this kind of thing would not repeat again, so if you let the post error coins stand, you are only assured that they will live by the next fork whenever that happens. So why keep those coins and not exchange them for something more established that would keep value?

The team should let us know if the total number of coins and mining rewards will now change.

True. If we won't start again from block number 7000, those who supported the project from its begining will lost the most including the project itself. There is a lot of greedy people buying/selling/mining at this moment. I very much doubt they care anything about charity and basic CWC idea. I, also, am convinced many valued supporters will leave the community and the project will not support water to anyone due to its instability.

Well I was mining for at least 5 day's before this happened, want me to stop mining now when I have done in 15 minutes what I have done in 5+ day's ?
No you can't be willing that, so I am still mining this, and will keep on mining later, the project is nice. But if I miss out any of my coins pré- or after fork I will move on immediately ... Coins worth a bunch or not, it really doesn't matter what they are worth !

edit* overreacted with day's mining

IntroVert

full member

Activity: 265

Merit: 119

Quote from: platorin on April 07, 2014, 08:19:40 AM

Quote from: IntroVert on April 07, 2014, 07:57:46 AM

If the blockchain is not reversed to block 7000, then the most rational behavior is to dump all mined/bought coins relatively quickly. If not, then due to this error, all early supporters and miners will have been diluted into oblivion. Also, if the total issue of coins is still at 1 billion, the miner reward will have to decrease drastically, and for lot of people there would be no incentive to mine CWC. In addition, you have no assurance that this kind of thing would not repeat again, so if you let the post error coins stand, you are only assured that they will live by the next fork whenever that happens. So why keep those coins and not exchange them for something more established that would keep value?

The team should let us know if the total number of coins and mining rewards will now change.

True. If we won't start again from block number 7000, those who supported the project from its begining will lost the most including the project itself. There is a lot of greedy people buying/selling/mining at this moment. I very much doubt they care anything about charity and basic CWC idea. I, also, am convinced many valued supporters will leave the community and the project will not support water to anyone due to its instability.

Agreed. For me it is not really an issue anymore how may coins I end up having, but what they do to make this right. Only then I will decide whether I continue to support this project.

platorin

sr. member

Activity: 392

Merit: 250

Quote from: IntroVert on April 07, 2014, 07:57:46 AM

If the blockchain is not reversed to block 7000, then the most rational behavior is to dump all mined/bought coins relatively quickly. If not, then due to this error, all early supporters and miners will have been diluted into oblivion. Also, if the total issue of coins is still at 1 billion, the miner reward will have to decrease drastically, and for lot of people there would be no incentive to mine CWC. In addition, you have no assurance that this kind of thing would not repeat again, so if you let the post error coins stand, you are only assured that they will live by the next fork whenever that happens. So why keep those coins and not exchange them for something more established that would keep value?

The team should let us know if the total number of coins and mining rewards will now change.

True. If we won't start again from block number 7000, those who supported the project from its begining will lost the most including the project itself. There is a lot of greedy people buying/selling/mining at this moment. I very much doubt they care anything about charity and basic CWC idea. I, also, am convinced many valued supporters will leave the community and the project will not support water to anyone due to its instability.

YouIsPeng

full member

Activity: 175

Merit: 100

When is the new wallet coming? Have pools got new wallet?

IntroVert

full member

Activity: 265

Merit: 119

If the blockchain is not reversed to block 7000, then the most rational behavior is to dump all mined/bought coins relatively quickly. If not, then due to this error, all early supporters and miners will have been diluted into oblivion. Also, if the total issue of coins is still at 1 billion, the miner reward will have to decrease drastically, and for lot of people there would be no incentive to mine CWC. In addition, you have no assurance that this kind of thing would not repeat again, so if you let the post error coins stand, you are only assured that they will live by the next fork whenever that happens. So why keep those coins and not exchange them for something more established that would keep value?

The team should let us know if the total number of coins and mining rewards will now change.

ibfragalot

member

Activity: 98

Merit: 10

The markets are going crazy with heaps of people going BUY BUY BUY!!!

I've never seen a coin sell so fast!!!

platorin

sr. member

Activity: 392

Merit: 250

Quote from: jeffminer on April 07, 2014, 07:38:25 AM

Quote from: platorin on April 07, 2014, 05:46:42 AM

Quote from: johnies on April 07, 2014, 05:39:30 AM

Quote from: WALKEN-COIN on April 07, 2014, 05:35:14 AM

The coin is not dead, it will just attract new miners as the price rises, assuming the dev team continues development.

It can't go much lower than 3-6 sats, right?

It can't go lower, but after block 8000 when people are getting 1000 coins a day no one is going to mine anything which is only worth 3000 - 6000 satoshi per day.

True. Everyone saying this situation might bring us some good in a future has absolutley no idea what 450 mil coins put into circulation in just ONE DAY mean for the coin, project, economy and the people who support it. There is a clear difference between steady grow and big inflation with shitload of worthless coins.

The only solution is to fork at 7000 and reverse a blockchain. I'd rather loose some pissed of miners who mined millions of coins during those 24 hours period, then people who have been with CWC from the begining.

I personally won't support it if blocks between 7000-8000 become valid. I just don't see the point and future for CWC then.

It means the price will (in the short term) hit rock bottom. But its better than loss of confidence with a reset. Plus, to sell those coins someone obviously has to buy them, and the new buyers are more likely to hold for the POS, meaning the price will go up from there right?

No, there are too few people around the project and too many coins around. It will take years to stabilize the price around the value which could have been achived if the block reward weren't messed up. Moreover there is no certainty it will ever happen. All that could have been done for the charity with the stable, progresive value increase will be lost if devs decide to leave 450.000.000 coins on the market. Not mentioning the lost trust.

Topic: [Donated $2k+ To Charity] Clean Water Coin: A Crypto Charity (Pure PoS) - page 104. (Read 195729 times)