Topic: ECCoin (ECC) Takeover by Trusted-Cryptos Team [Griffith] - page 16. (Read 91207 times)

Thanks : that will be useful.

I have a completly synced and new wallet (MAC) that I am testing. I will make a .zip file from the complete folder without the wallet.dat and upload today.
Once that is done, I will post the link here.

Michael

Is there a recent copy of the Blockchain out there somewhere I could download to help get this wallet to sync up before anything changes?

Starting a new blockchain is ok. : I was only suggesting an eloquent method for programming the coin swap into the new wallet, because there will be a lot of users who cannot sync, and the swap could cause a great deal of bad feeling unless it is easily and automatically available (the time window can be limited, but any length at all, say 6 months to be fair).

I don't know what the Lottoshares code looked like, but the way it worked was very clever. Anyway, I guess it might not be understandable in a short time frame.

I don't understand this community...Griffith is offering us a solution on a golden plate and still there are individuals that rather stick to the old, broken blockchain.

The only way to break with the past is through the development of a new coin. As stated in one of my previous posts, it took me one day to download the blockchain, and had to restart several times... Not all new users are crypto geeks... We need a wallet that can be used by anyone, even my grandmother has to be able to use it...

I really hope we can set up a poll, so the community can make the right decision...

Regards

Goldmaxx

we were originally planning to do the coin swap to the new coin and sell the rest of the premine (coins that werent converted) and use that money to peg ecc to a usd amount. but it seems the community would rather have me repair the try to do a coin swap / fundraising based on the feedback from the posts above

The process behind any reverse split , is that you combine the remaining value by decreasing the total supply.
Your Amount that you own stays the same, you just have less coins.
Now if the price continues to drop, a reverse split gives you more time to recover before it's price hits 0.
~500 times as long if there is a 500x1 reverse split.
But if marketing or something else does not increase desire to own eccoins, split or no split won't matter, but a reverse split will give the ecc community more time to find what they need to do to increase desire for the eccoin.

 

IMO:
500x1 does not go far enough, a 5000x1 or 50000x1, would be more suitable.
Plus if you split that much , you could give a 40% monthly interest rate for 6 months, and then drop to your final rate. This would generate Buzz for your coin and give you a quick boost.
Just my opinion.

The top 5 are getting massive funding to stay at the top and they still vary in price, from whom your guess is as good as mine.
The only way to have a coin stay at a fixed value, is if you are able to tie it's value to another object's value. Basically 1 eccoin is always exchangeable for instance for (1 gram of silver) , this would give it a fixed value. Or setting up a website that will buy 1000 eccoins for 1 penny, defines it value at 1/1000s of a penny, problem is you need enough of whatever the other object is to meet ~75 % of the total value to pull something like that off. But that is how you could do it.
In the Far Past , US dollars were directly exchangeable for gold or silver of equal value,
but the Govs ended that, and Hello Inflation / Deflation / Stagflation.

 

i will try to attempt the block with a new sync strategy before we go and stat a new chain with a new coin (which is so much more of a hassle)

Agreed. if you want to do a swap, keep it 1:1

yes ..that would be awesome..XPY is also a POS coin now...why not take reference feature from paycoin
one of the feature is to lock few of the coins and who does that gets bigger pos rate...rest get the normal pos rate..

+1

Hi guys

About the specs of the new coin.
If we take a closer look at the current top 5 24h volume coins...

1    Bitcoin Bitcoin    BTC    $ 4,265,208,020    $ 312.29    13,657,800    $ 14,871,200    -0.21 %    -2.36 %    -3.66 %
3    Litecoin Litecoin    LTC    $ 94,163,315    $ 2.68    35,110,804    $ 2,030,080    -0.25 %    -1.95 %    -6.82 %
2    Ripple Ripple    XRP    $ 731,826,049    $ 0.023624    30,978,075,200 *    $ 1,162,480    -0.22 %    -4.17 %    -5.18 %
17    NuBits NuBits    NBT    $ 2,238,280    $ 0.996725    2,245,634 *    $ 1,117,190    -0.44 %    -2.80 %    0.18 %
505    PayCoin PayCoin    XPY    ?    $ 11.65    ? **    $ 462,098    -1.81 %    19.29 %    33.26 %

Why are they in the top 5.

N°1 and 2 are obvious, they where just the first cryptocoins out there (with LTC being the first altcoin).
So, being the first is always the biggest advantage you can have.

N° 3,4 and 5 have something totaly different in common...they have a rather stable price.
I think this is an important feature for our new coin...

Being a store owner, I would rather accept a coin that keeps it's value than a coin that rides a roller coaster.
So, would it be possible to create a fixed value for our new coin?
Something to think about IMO...

Regards

Goldmaxx

The Lottoshares method seems fairer than a swap because people tend to miss swap deadlines and lose their coins.

Lottoshares used an import of private key for several different coins, claiming LTS on that separate blockchain. It worked well (the coin is defunct now for other reasons)

https://bitcointalksearch.org/topic/lottoshares-dice-0-edge-80lts-airdrop-to-all-doge-owners-694341    A snapshot of blockchains (including coins unable to sync) was taken at a certain date, and the balances of coin were set into the new blockchain.

If it could be programmed this way might it not save a lot of trouble ?

Many holders are unable to sync wallets.

Hi there,

How about adding something like PoBC to future ECC?
https://bitcointalksearch.org/topic/m.6271202

But I would call it differently by adding the following... Let's say, the more a user can share the blockchain (upload), the more ratio it has. In order to upload you have to obtain a fully synchronized blockchain. This way, clients with highest uptime, upload more but also do provide support for the network to run faster/better network.

It would be interesting to see how a big chain can sustain with a scheme like this.

Just an idea...

Cheers

No, that won't work as we plan to create a whole new blockchain.
There needs to be done a swap. Old coins for new ones. We can do that on the exchange or via our website trustedcryptos.com. We are in the planning stages, thats why we want to know what you all think about it.

In this stage we can also discuss the specs of the new ECC (or whatever name we want it to have). We haven't talked with the exchanges yet, because we think that we first need to talk this over with all of us.

What is the intended method for claiming new coins : import old private key into new wallet ?

+1 , Totally Agreed
Best Chance for ECC
 


 

The coin itself is fine, it is the blockchain that is a problem at the moment. It has many problems syncing and gets stuck often which is stemming from the faults of the original dev.


we would be cutting down the current coin supply in a proportional response to the max coin supply to fit in better with a scheme we have going for our multiple coin wallet. there will be a swap of 500 old : 1 new. and there will also be an opportunity to buy more of the new coins for btc if you want to increase your investment holdings.

after a period of about 2 or 3 weeks the coin swap / purchase will end and the unsold/unswapped coins will be destroyed. there will be an overall restructuring of the coin.


the raised funds will be used to achieve a stabilized ECC/USD pairing and if enough are raised a minimum sell price to USD would be established to make sure the coin doesnt dip below a certain value.
 (end goal for this would to be to partner up with coinbase or bitstamp or something)


a lot more information will be posted about the new coin and its plans. we will be changing the name (undecided what to yet). please check the forums every day or so to keep posted on what will be happening.




reduce supply isnt the main goal. its to fix the broken block chain. thats the main goal