Topic: ECCoin (ECC) Takeover by Trusted-Cryptos Team [Griffith] - page 36. (Read 91210 times)

It's like, all coins will be reset to 0 days age. Meaning that "very old" coins that do not show up over the network, will not "influence" the staking (by not allowing others to stake so often for example).

What does that mean, exactly ? What will be the min + max coin ages ?

I was just reading it! =) Eager to try your art!

 

ANNOUNCEMENT!!!

Tomorrow (within the next 24 hours) there will be a MANDATORY update to ECCoin v2.0.

Reason why another update?
- The updates have been so frequent because of the very slow and degrading network and they have an been an attempt to fix it. the last remaining variable that i can see that is causing a slow network is because there are about 20 wallets on the network that haven't updated there wallets since i took over, by this i mean they are still on the original ECCoin code. these wallets have been plauging the network and making it very hard to sync since then. also a bug was found earlier where it was possible to fork yourself off the network. this has been fixed. it wouldnt cause anyone but you to go off on a fork and wouldnt result in the loss of coins but it would cause you to have to re-sync. this was found to only work in  very specific scenario but nonetheless it has been fixed.

ALL WALLETS BEFORE 2.0 ONCE THE UPDATE IS RELEASED WILL NO LONGER BE ABLE TO CONNECT TO THE NETWORK AND WILL BE REJECTED BY IT SO YOU MUST UPDATE.

i am hoping that this will be the last update i need to make in order to attempt network patches and i can just focus on getting more resources and outlets for the coin.

changes in the new wallet include:
-removal of useless functions that are obsolete.

-added checkpoints

-after block 260,000 all coins will be even when staking as if it where
block 0 and no coins will have a higher stake priority anymore.

-added some standard node connects so that the wallets will always at
least try to connect to the main dns nodes to find peers. the conf file
is now auto generated at startup if one doesn't already exist.

- increased the frequency of vSend which will mean the wallet checks for new blocks more often (down to 1 minute from the previous 2 minutes)

-shortened timeout timers for wallet connections (data was being lost since these were so high, they have been lowered to better standards)


When will i be able to get the new wallet?
- it will be released tomorrow. so check the first post. i will put it all in caps just for easy find. the github has already been updated (for the exchanges) so feel free to check out the new updates there

If you are having problems syncing and your blocks are on a different block then the Block Explorer ( http://129.21.141.139:3000 ) then I have made available my peers.dat. You can try to replace your peers.dat with mine.

You can download it from address: http://s000.tinyupload.com/?file_id=02854884060926637894

The location for your peers.dat on Windows :

C:\Users\\AppData\Roaming\ECCoin

Panic over they are back with repair wallet


Good job with the new wallet btw very nice.

Hi guys wonder if you can help.

I just updated to latest wallet but now I do not have my coins and Ideas how to recover them?

Any help would be appreciated.

Did not mean to confuse, when I said volume , meant Amount / Number , not trading volume.
The word Low Demand is meant to indicate very low trading volume.
 


P.S.
If the coin was in high demand then we would have a very large trading volume and odds are this conversation would not be happening.

Hi everyone,

I see this community since beginning, and I may say that I am very happy that people are involved with eccoin project. Thats a honnor to be part of it, and I hope this community could grow more and more.

ECCoin is a great coin, and I always knew about it. But, to get known, we need to show evolution and a sense of community, just like that.

There are a lot of coins. What things people will see on ECCoin that make it a better one? 

Let me comment on this words (friendly), but first let me say that these "Free discussions are very good to expose good ideas". I would say, I am enjoying this! Thanks!

Regarding the part of the sentence I quoted:
I do not agree, respectfully. High volume would in fact sustain all you said. IF there was volume, transacted volume, then the coin would start to value. (you might not have mean that volume was transacted volume, but in case you was then this is my opinion). The problem/status is that ECC is not being used now for trading like it was before (I used to trade ECC like 1 BTC a week).

In the "Total amount of coins" (in my opinion) the main characteristic that spots out is that it differentiates the monopolize effect and the total "speculation" (initially only). The Monopolizing effect derivates from a bit of greedy and "speculation investment" that in this case could start by something like, "many might be guessing who as the most amount of coins?! If this goes rocket sky, who will make the buck...". But I would like to point, like you compared with other coins, the same idea against those other coins, and in that case it would be even easier to accomplish the "monopolized effect" (but surely with less wider windows for investment).

Adding some other opinion of mine: "old" coins (or old blockchains) like ECC, being big or small in amount of coins, does not matter much. Because the speculation of that amount was already negotiated through many adopters when the initial ECC started. Now it just defines the ECC granularity more/less in terms of trading.

So, conclusion for me is that the amount would only change the "speculation" in exchange for "bad informed adopters". Not much for the ones that already know that ECC will transform into a different amount of "total value". Percentages are, percentages... they will stay like that. And I think the only way to show value is by showing dedication, future vision and facts (the good ones):

Good facts examples:
- ECC has been very well transacted and initiated over a "green" effect that many liked.
- ECC has been taken over by people that though something like "how can coins like this dye?!!! NO WAY". Thanks for all of them that made something up to this.
- ECC was one of the first coins to use high stake rate and age (if not the first). MINT had 20%... but a lot less age time.
- ECC was at some point very "high volume speculated" due the relation with "long term investment", connected to the "green" style.
- ECC adopters did sold some of their coins, but I would say that "most of ECC is/was not sold". This shows that someone is still up to the investment they did initially. (Yes, I am one of these guys)
- etc...

Now ECC needs to adapt and reinvent it self. But also stay close/connected to the original roots! Why? It drives the speculation even better, therefore makes it valuable, stable and possibly "someday" a greedy coin for give uppers or newly interested adopters. Remember one last though, coins/chains that never dye have always increased value because they have persisted and adapted/evolved. That's the most "wanted" objective for all society in cryptocurrency.

In name of crypto, I thank all interested in participating over this open discussions. =)
BarTeam out.

I think it would work better with billions of coins. The bar to mainstream adoption with most cryptos is not enough units.

# of coins are a major factor in High interest

Hyperstake  22,304,814    coins    750% yearly
Hobonickels   6,466,084    coins    2% every 10 days (~6% a month)
Bottlecaps     6,364,910    coins    200% yearly
TEKcoin         2,301,584   coins     40% Monthly (few bugs at the moment)
Supercoin      14,739,465  coins    1st year 100%, 2nd year 50%, then 1% forever

Notice none are over a billion, and when they get more coins they will most likely drop the rates.
Tek forum has discuss lowering rate.
Supercoin rate lowering is already set to 1%
Hyperstake is already placing limits on how much you can stake at one time.

ECC is over 18 billion now. Super High interest with high volume of coins with low demand is a death blow. Can not be done safely without massively lowering the number of ECC coins.
Also how will community react to a reverse split?

 

FYI:
Numbers are from http://coinmarketcap.com.

1. I am not suggesting any. The best I have to offer at present is higher stake.

2. Hyperstake, Hobonickels, Bottlecaps, Tekcoin, Supercoin, PPCoin (lower stake) Novacoin.

3. High stake does not benefit me specifically, but would benefit everyone who holds ECC. The value of my ECC holding will likely never get near 1% of my total Cryptoholdings (even if ECC multiplies massively from here). It would be better for me to give away my ECC (would save me some time, and I have done that with several other coins), as I am more interested in the technical and intellectual discussion.

4. Refer to reply above .

5. I think it started at 30%, but anyway, similar % to now. Griffith is doing great work : I like the new GUI.  

I too am here unpaid, in fact I spend about 20 hours a week in altcoins, and have done so for 16 months (with negligible reward) : my professional charging rate in my other 2 businesses is plenty, so money is hardly my motivation. I support dozens of coins, but obviously I have (very) limited time.

1- Great technology, merchant use, huge promotions, thousands of community members will drive adoption better.
i'd like to hear some of your suggestions to acheive this aim Majormax as this is clearly fundamental.
2-(when you say ECC is pretty nearly inactive by comparison with its competitors )(specifically which? - the ones you mentioned as holding ? or others?? )-
i think the ecc community is increasing but then i dont have the stats.
3- can you reFute the deduction that you simply want loads more ecc without investing any more btc/ltc.
4- I am prepared to plant trees to offset any carbon emmission incurred from ecc use- think that was originally an idea for ecc - way back in the day (earlier this year)- although i use solar power i suspect that parts of the network and probably some of the electrons that are channelled through my computer have a carbon footprint that deserves to be addressed. anyone wishing to get involved with a tree for ecc plan - please say.
5- i think 25 percent is pretty good - i mean i think back in the day when it had a leaf on it and it was one of if not the first to go proof of stake, it was about 20 percent - correct me if i'm wrong - and besides ... Griffith has done the coin a great favour by all the hard work and effort , off his own volition , for which i am grateful and wouldn't want to see him spending all his waking hours doing extra little tweaks for no wages just  for the benefit of users who wanted more of a monopoly on the total coin weight . perhaps if on balance if it did end up look like a good idea to put up the interest there would be some sort of a cash incentive . discuss.

Not just high inflation : Great technology, merchant use, huge promotions, thousands of community members will drive adoption better. However, high inflation is the most powerful driver that lies within the power of ECC community without incurring large costs.

ECC is pretty nearly inactive by comparison with its competitors : most of them are afraid of high inflation and it is a great way to steal a march on them, with nothing to lose.

I don't want to dominate this discussion, so please, let's hear from someone else, refuting my specific points.

comkort is in contact with me. they are fixing it. swisscex is only doing LTC market at https://www.swisscex.com/market/ECC_LTC


i like the discussion so far.

only thing i am wondering is: Majormax why do you think that only high inflation will cause crypto adoption?

I believe that the majority of altcoin users miss the point that high inflation is an extremely important thing to have, in order to drive currency velocity and adoption. A deflationary currency encourages hoarding (fixed supply) and not spending, thus the holders hold on to it, driving a cycle of decline in velocity and thus stagnation.

Unlike Fiat, Cryptocurrencies have little or no real-world need to be spent, and thus holders of non-inflationary currencies can artificially and temporarily raise price by speculation, but the price always peaks and then drifts to new lows. This is because the currency is concentrating in fewer hands all the time, who are holding (not spending) it, and thus a cycle of falling velocity and less distribution (with unequal distribution) continues.

This is actually happening in Fiat currencies (Japan is well down the road), but it is much slower owing to the huge need for spending Fiat. The holders of cash are getting larger and larger balances relative to everyone else, and currencies are in a slow death spiral (which is now beyond the event horizon, with interest rates at the zero bound). The 'apparent' rise in value of fiat currencies (so called deflation) is only a temporary symptom of the monetary (true) inflation that has occurred, and has been caused by the hoarders of fiat (the 1% or whatever) pursuing monetary policies designed to limit price rises (rises = so-called inflation).

Whilst inflation may discourage holders and investors in the early days and drive down the price short term, it is extremely important to redistribute the wealth from the holders to the spenders allowing an economy to work properly. The only reason this is working out currently with Bitcoin is that it will take years until it becomes deflationary and so far its mining inflation has worked out to great effect.

Concluding, I restate my thesis that a Cryptocurrency, in its early life , has nothing other than inflation to drive its wider adoption. Bitcoin did/does it with PoW mining (and that is Satoshis original intention). A PoS coin needs high inflation to drive adoption, and that can only be achieved through the PoS rate. As competition is very fierce, the ones with the highest PoS will have the best chance.
I would go so far as to suggest that even 1000% is not too much, provided that it only lasts for a limited period (maybe years), and is tapered after that.

ok , missed a few 0s, over 18,000,000,000 of ECC if that is better for you , but was spot on on the others.
A typo on my part does not mean your assertions are correct, just means I made a typo.
My point is that the price of all coins will increase when they become mainstream.

If you want to increase number of users right now setup some faucets to increase the number of wallets out there. like http://www.multifaucet.tk/
That is free coins and it is right away and the users will have to setup a wallet to even receive them,
or setup bounties for something paid in eccoins.

The only way you can up the interest rate as high as what you want to do , is if you do a reverse split like 100000 to 1, so 18,000,000,000 becomes 180,000, then you can set whatever interest rate you want without major problems in the future. If the rate hike happens with the current # of coins at the current demand level , it will be suicide for eccoin not success.

 

FYI:
ECCTrade on Comkort.com & Swisscex.com exchanges are currently down.

Agree that price is not the relevant issue , but I don't really see the relevance of the number of coins on the network control either. You quote 18,000,000 and it's actually 1000x that, which rather disproves that point. x100, x1000, x1m, whatever.

My main point is that we need numbers of users and holders asap, because there is no reason for them to turn up later (over and above any other coin), and ECC has to survive until mainstream, above all.  The attraction for new users is the 'free' stake. You can read the theory in this thread : https://bitcointalk.org/index.php?topic=783697.100;topicseen   if you want to know why: go from the beginning.

http://I sent coins to my another ECC wallet, so to help expedite network?