Coin supply waaaay too high.
Define too high? Why is this number too high? I understand why you say that, we want the value to be low in the beginning. We don't want any pumps.
Topic: [PRE] [ANN] [GRYF] - GryfenCoin - page 2. (Read 9378 times)
Define too high? Why is this number too high? I understand why you say that, we want the value to be low in the beginning. We don't want any pumps.
(I'm With GryfenCoin btw...)
As far as the premined coins we don'thave control of the supplies and it is to back the cryptocurrency options exchange which will draw in people who are not already in the cryptocurrency game. This is not for established players. This is not a 4 week coin. And 100 Trillion being too many is pretty irrelevant when you can only add about 8-10Billion new coins per year MAXIMUM. What is the market cap that Bitcoin can ACTUALLY hold maximum? Do you even know?
Why is 100 Trillion too many? It's a number. A number that allows a good upwards limit of growth that won't be over in 2 weeks. Over time the difficulty will naturally raise higher and higher and we'll be better insulated from risk than traditional fiat or cryptocurrencies.
The system seems complicated but it draws almost all of its' parts from real world systems in use but modified slightly. Systems pulled from use tend to do better than radical re-designs. The main goal is to keep a flow of money going and instead of collecting money from microfees like a normal exchange would we use the funds from this ALWAYS to just go back into the coin into a physically backing. We can make money other ways.
I would rather create an economy than to participate in one.
Any actions taken on the exchange or throughout the system continually add value to the Coin in a slow, deliberate and controlled manner.
The whole goal of having multiple mechanisms and customer segments is to draw more people into the industry that are not currently in it(YOU ARE NOT THE TARGET AUDIENCE) whereas with the current situation seeing altcoins dying out when on paper they should work extremely well.
There is almost no flow of coins currently in many altcoins and most lack an organic ecosystem that seeks to keep coins moving in the supply and in effect contribute towards the multiplicity of money effect. On top of that none of the coins are branded or researched well enough to target the majority of people out there.
A lot of the suggestions are for the same thing over and over like crabs trying to get out of a bucket but pulling each other back in.
If the suggested range for the coins(which are consistent with MOST out there) was so good then how come the altcoin market has been shrinking?
If the proposed amount of coins worked so well why aren't they working that well?
There are many limitations in the ecosystems of these cryptocoins and that is what GryfenCoin is trying to solve. You can be a statistical or mathematical genius and come up with an amazing plan that works on paper but is far different from what actually happens.
We're trying to integrate lessons learned from many coins before it. I'm not here to copy coins. I'm not here to create a cryptocurrency that stays internal to the hardcore cryptocurrency community.
Everyone on Bitcointalk.org are the innovators of the innovators of the early adopters. You guys are the 0.1% - and it's probably less than that.
We're aiming for an actual wider release; we're an actual registered, incorporated company that isn't some LLC and we have a full team of people marketing it.
The only big audiences we're going to be going after are English speakers and Chinese speakers - so we can remain focused on the actual coin vs. making it friendly for the whole world. Our mission is to make a cryptocurrency that works - not to make the whole room happy(we'd like to, but we're mission oriented)
Most of the people who are going to be our super users/users, our options market users, people mining, staking, etc are going to be people who have had little to no exposure with cryptocurrency but have many problems that cryptocurrency can solve.
The problem with a lot of altcoins is they are merely a product - a me too statement if you will. Bitcoin was thrust to the top by market pull , [vs. push(ie. Ripple)], Bitcoin solved problems that people have. Bitcoin is a solution to a series of problems and it's the most popular and most capitally viable solution at this time.
The reason most of these altcoins fail is because they are a "me too" product at best and a collusion of ASIC miners & shady exchange owners at worst.
Some altcoins actually do solve problems - but are the problems big enough to solve? Will people pay money to solve that problem or is it a big enough pain for them that they'd even warrant spending? The proof is in the pudding as they say and we have the foresight to adjust our course iteratively and continuously using the community feedback that we receive.
The goal of having a 2.5% premine that backs the cryptocurrency options market is to draw in traders(veterans and n00bz alike) and to kick start that part of the ecosystem. Almost everything that happens in the coin aims to SLOWLY and steadily add value to the coin with speculation , sales of futures, and all other transactions.
The users on the cryptocurrency options market can receive coins from using the options market and the entire point is to draw micro-transactions and to do everything you can to make it an awesome experience for the end user.
Another main concept of GryfenCoin is to continuously test different things and ideas out because as I said above what actually happens/what users ACTUALLY DO is more important than what you predict will happen User behavior is unpredictable. What someone says they'll do and what they'll actually do are quite different - as anyone who has worked in finance & sales will tell you.
I feel that in seeking solutions from our current jacked up financial system we ended up with a cryptofinancial system that has a similar sized volume of issues, and similar side effects to users. All it takes is one guy getting burned by the Bitcoin economy one time and it can put off all of his friends for a while.
Bitcoin is scary.
or so says most Americans. When most people think Bitcoin they think illegal internet money. It's stupid, but most people are pretty regressive. They don't care how money works, they don't care how the Federal Reserve works - they just want money for their work and they want to be able to spend that money.
Further, the entire system in GryfenCoin is extremely gamified to increase user satisfaction and user experience. Word of mouth is still the most effective marketing, and we want to capitalize on that by providing a satisfying and fun user experience that they would share with their friends and family without having the negative, regressive connotations that Bitcoin carries.
And if you say no...Give us a chance. Still say No I say please. I am appreciative of the feedback you all give and it will be all used to optimize/modify/change GryfenCoin before it launches to make sure it has the best possible release.
If you hate it , please tell me why in as many words possible and I will listen.
If you're desperate for a quick pump, a quick pay day before moving on to the next coin then please, politely GTFO. Just get your stuff, leave this thread, and walk out and don't look back or let the door hit your ass on the way out.
If you're interested in a real coin that is based on facts, data, and research then stay on the thread. If you're interested in a coin that actually solves problems for real people and gives every-day people a chance at massive crypto adoption - stay in this thread.
If you have further questions PLEASE feel free to ask. Any Suggestions or Advice? PLEASE feel free to leave it.
As far as the premined coins we don'thave control of the supplies and it is to back the cryptocurrency options exchange which will draw in people who are not already in the cryptocurrency game. This is not for established players. This is not a 4 week coin. And 100 Trillion being too many is pretty irrelevant when you can only add about 8-10Billion new coins per year MAXIMUM. What is the market cap that Bitcoin can ACTUALLY hold maximum? Do you even know?
Why is 100 Trillion too many? It's a number. A number that allows a good upwards limit of growth that won't be over in 2 weeks. Over time the difficulty will naturally raise higher and higher and we'll be better insulated from risk than traditional fiat or cryptocurrencies.
The system seems complicated but it draws almost all of its' parts from real world systems in use but modified slightly. Systems pulled from use tend to do better than radical re-designs. The main goal is to keep a flow of money going and instead of collecting money from microfees like a normal exchange would we use the funds from this ALWAYS to just go back into the coin into a physically backing. We can make money other ways.
I would rather create an economy than to participate in one.
Any actions taken on the exchange or throughout the system continually add value to the Coin in a slow, deliberate and controlled manner.
The whole goal of having multiple mechanisms and customer segments is to draw more people into the industry that are not currently in it(YOU ARE NOT THE TARGET AUDIENCE) whereas with the current situation seeing altcoins dying out when on paper they should work extremely well.
There is almost no flow of coins currently in many altcoins and most lack an organic ecosystem that seeks to keep coins moving in the supply and in effect contribute towards the multiplicity of money effect. On top of that none of the coins are branded or researched well enough to target the majority of people out there.
A lot of the suggestions are for the same thing over and over like crabs trying to get out of a bucket but pulling each other back in.
If the suggested range for the coins(which are consistent with MOST out there) was so good then how come the altcoin market has been shrinking?
If the proposed amount of coins worked so well why aren't they working that well?
There are many limitations in the ecosystems of these cryptocoins and that is what GryfenCoin is trying to solve. You can be a statistical or mathematical genius and come up with an amazing plan that works on paper but is far different from what actually happens.
We're trying to integrate lessons learned from many coins before it. I'm not here to copy coins. I'm not here to create a cryptocurrency that stays internal to the hardcore cryptocurrency community.
Everyone on Bitcointalk.org are the innovators of the innovators of the early adopters. You guys are the 0.1% - and it's probably less than that.
We're aiming for an actual wider release; we're an actual registered, incorporated company that isn't some LLC and we have a full team of people marketing it.
The only big audiences we're going to be going after are English speakers and Chinese speakers - so we can remain focused on the actual coin vs. making it friendly for the whole world. Our mission is to make a cryptocurrency that works - not to make the whole room happy(we'd like to, but we're mission oriented)
Most of the people who are going to be our super users/users, our options market users, people mining, staking, etc are going to be people who have had little to no exposure with cryptocurrency but have many problems that cryptocurrency can solve.
The problem with a lot of altcoins is they are merely a product - a me too statement if you will. Bitcoin was thrust to the top by market pull , [vs. push(ie. Ripple)], Bitcoin solved problems that people have. Bitcoin is a solution to a series of problems and it's the most popular and most capitally viable solution at this time.
The reason most of these altcoins fail is because they are a "me too" product at best and a collusion of ASIC miners & shady exchange owners at worst.
Some altcoins actually do solve problems - but are the problems big enough to solve? Will people pay money to solve that problem or is it a big enough pain for them that they'd even warrant spending? The proof is in the pudding as they say and we have the foresight to adjust our course iteratively and continuously using the community feedback that we receive.
The goal of having a 2.5% premine that backs the cryptocurrency options market is to draw in traders(veterans and n00bz alike) and to kick start that part of the ecosystem. Almost everything that happens in the coin aims to SLOWLY and steadily add value to the coin with speculation , sales of futures, and all other transactions.
The users on the cryptocurrency options market can receive coins from using the options market and the entire point is to draw micro-transactions and to do everything you can to make it an awesome experience for the end user.
Another main concept of GryfenCoin is to continuously test different things and ideas out because as I said above what actually happens/what users ACTUALLY DO is more important than what you predict will happen User behavior is unpredictable. What someone says they'll do and what they'll actually do are quite different - as anyone who has worked in finance & sales will tell you.
I feel that in seeking solutions from our current jacked up financial system we ended up with a cryptofinancial system that has a similar sized volume of issues, and similar side effects to users. All it takes is one guy getting burned by the Bitcoin economy one time and it can put off all of his friends for a while.
Bitcoin is scary.
or so says most Americans. When most people think Bitcoin they think illegal internet money. It's stupid, but most people are pretty regressive. They don't care how money works, they don't care how the Federal Reserve works - they just want money for their work and they want to be able to spend that money. Further, the entire system in GryfenCoin is extremely gamified to increase user satisfaction and user experience. Word of mouth is still the most effective marketing, and we want to capitalize on that by providing a satisfying and fun user experience that they would share with their friends and family without having the negative, regressive connotations that Bitcoin carries.
And if you say no...Give us a chance. Still say No I say please. I am appreciative of the feedback you all give and it will be all used to optimize/modify/change GryfenCoin before it launches to make sure it has the best possible release.
If you hate it , please tell me why in as many words possible and I will listen.
If you're desperate for a quick pump, a quick pay day before moving on to the next coin then please, politely GTFO. Just get your stuff, leave this thread, and walk out and don't look back or let the door hit your ass on the way out.
If you're interested in a real coin that is based on facts, data, and research then stay on the thread. If you're interested in a coin that actually solves problems for real people and gives every-day people a chance at massive crypto adoption - stay in this thread.
If you have further questions PLEASE feel free to ask. Any Suggestions or Advice? PLEASE feel free to leave it.
2.5% premine is not good idea.Some guys hate premine coins.
x22,cool.
No.
[/b]
COINS are not how much, is the essence, is the price!
Make of so complicated，But I'm not interested.
BWAHAHHAHAA lmaorotf BWWAAHAHAHHAAHAHHA NO
Total POW coins are too many
supply coin should only 1-10 million
supply coin should only 1-10 million
Why? Who came up with that number? Why not 42coin (been done)? Why not 3 coins? There are literally hundreds of altcoins that just do the same thing over and over again, we are pushing something new. We don't really care about having an explosive coin that kills it in the first few months, we want something that grows and thrives over the long term.
1 Million---3 Million appropriate to facilitate pulled! For example N5X!
Coin supply waaaay too high.
Total POW coins are too many
supply coin should only 1-10 million
supply coin should only 1-10 million
Why? Who came up with that number? Why not 42coin (been done)? Why not 3 coins? There are literally hundreds of altcoins that just do the same thing over and over again, we are pushing something new. We don't really care about having an explosive coin that kills it in the first few months, we want something that grows and thrives over the long term.
Total POW coins are too many
supply coins should only 1-10 Million
supply coins should only 1-10 Million
This seems like a nice concept but honestly though, why such big supply? What are you trying to achieve this way? In my oppinion, this could just devalue the coin. Also why is the PoS cap so much higher than the PoW?
Thank you for your questions. With regards to supply: it is not quite as big as 100 trillion might seem, at least not in the short run. In the first year there would only be up to ten billion active coins, accounting for all the ways they can be created.
We have 100 trillion coins because we want this to become a medium of exchange, not just a commodity. We also want it to last for a long time, and it will take decades for all the coins to be brought to market.
We are completely open to changing the PoS/ PoW caps. One of the solutions we are thinking about is that the max PoS blocks will increase at a small variable rate comparable to the PoW, but we have a number of ideas in the works. I like this feedback though, keep it up!
This seems like a nice concept but honestly though, why such big supply? What are you trying to achieve this way? In my oppinion, this could just devalue the coin. Also why is the PoS cap so much higher than the PoW?
I came here to FUD.
Left impressed.
Left impressed.
x22 cool, interesting concepts. let keep eyes on it.
When is it being released ?
you need to buy a domain name. they are $7 if not cheaper !!
you need to buy a domain name. they are $7 if not cheaper !!
We're discussing the details of the PoS 4 week out Pre-order/IPO/Crowd Funding with a trusted escrow on Bitcointalk.org that Katie has been in touch with. We are discussing the amount of funds needed, the disbursement of the funds, the insurance of delivery, etc and will start this Monday, July 15th, 2014.
It should take about 4-6 weeks to develop and we also concurrently are working on the Gryfen.co cryptocurrency options market web app & Android App, and a Big Data Altcoin insights program. The only thing the funds would be used for would be for developing the coin.
As far as domains. Our Blog/homepage is http://www.GryfenCryp.to and we own http://www.GryfenCoin.com as well as http://www.Gryfen.co , http://www.gryfenco.in and http://www.GryfenCrypto.com.
We'll have forwarding up on all those domains by the end of the night to avoid any further confusion
When is it being released ?
you need to buy a domain name. they are $7 if not cheaper !!
you need to buy a domain name. they are $7 if not cheaper !!
I came here to FUD.
Left impressed.
Left impressed.
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