interesting, but will it be more profitable to mine this coin or just mine at middlecoin.
The outcome is the same
Topic: [PRE ANN] HashShares[HAS] Scrypt PoW with Bitcoin PoS (Read 2827 times)
Bumps!
We have put up a poll about HAS being released as a DAC or not, if you have a opinion on this matter please use this thread:
https://bitcointalksearch.org/topic/vote-poll-shall-hashshareshas-honor-ptsags-417561
to cast your vote and we would be grateful if future discussions on that matter could be kept in that thread for now.
https://bitcointalksearch.org/topic/vote-poll-shall-hashshareshas-honor-ptsags-417561
to cast your vote and we would be grateful if future discussions on that matter could be kept in that thread for now.
Well, i'm guessing bitember.com is going to tackle this coin.
Interesting project.
Mmm.
First of all, you say no premine, but you also say 50k HAS are for the dev team and 50k HAS are for bounties ecc, so 100k from the genesis block are actually absolutely a premine.
If you want to have a bit of credibility you absolutely need to change this part in the Q&A and admit it.
Apart from that, you also need to explain a bit more the entire process especially those 2 points:
1 HAS = ?? Haspower
1 BTC donated = ?? HAS
Because, if we look at what you've wrote:
You wrote you're going to pay out just 50% of the BTC generated by the 2 KnC Neptunes, so basically you're "selling" the hashpower from just 1 of the 2 KnC, while keeping the second one for yourself (10% bills and 40% funds).
So, translated, you're selling 3000 Gh/s of power to the investors.
If this power is divided among all of the 500k HAS of the genesis block equally, 1 HAS would be equal to 0.006 Gh/s.
At the current price on CEX.io 0.006 Gh/s = 0.00026813 BTC
So:
1 HAS = 0.006 GH/s ---> 1 HAS = 0.00026813 BTC ??
Assuming this is correct, to sell out 400k HAS you are asking for 107.252 BTC.
So, actually, at those rates, you would take 107.252 BTC for 80% (400K HAS) of 1 KnC miner = 85,801.6 $ (at a rate of 800$/BTC).
... LoL ...
First of all, you say no premine, but you also say 50k HAS are for the dev team and 50k HAS are for bounties ecc, so 100k from the genesis block are actually absolutely a premine.
If you want to have a bit of credibility you absolutely need to change this part in the Q&A and admit it.
Apart from that, you also need to explain a bit more the entire process especially those 2 points:
1 HAS = ?? Haspower
1 BTC donated = ?? HAS
Because, if we look at what you've wrote:
Q. How is this possible?
A. We have aquired 6000GH/s in the form of 2 KnC Neptune miners from the first batch. 50% of the Bitcoins generated the previous day will be paid out directly as Proof of Stake at 00:00 GMT the following day.
Q. What will happen to the other 50%?
A. 10% will be used for electricty, maintenance, internet connection and storage, the other 40% will be deposited into the HashFund.
Q. How will the Genesis blocks 500000HAS be divided.
A. 50000HAS is for the developers, another 50000HAS is for various bountys, promotions, giveaway threads and similar.
The rest(400k) will be divided among the development donators based on their percentage of total Bitcoins donated.
A. We have aquired 6000GH/s in the form of 2 KnC Neptune miners from the first batch. 50% of the Bitcoins generated the previous day will be paid out directly as Proof of Stake at 00:00 GMT the following day.
Q. What will happen to the other 50%?
A. 10% will be used for electricty, maintenance, internet connection and storage, the other 40% will be deposited into the HashFund.
Q. How will the Genesis blocks 500000HAS be divided.
A. 50000HAS is for the developers, another 50000HAS is for various bountys, promotions, giveaway threads and similar.
The rest(400k) will be divided among the development donators based on their percentage of total Bitcoins donated.
You wrote you're going to pay out just 50% of the BTC generated by the 2 KnC Neptunes, so basically you're "selling" the hashpower from just 1 of the 2 KnC, while keeping the second one for yourself (10% bills and 40% funds).
So, translated, you're selling 3000 Gh/s of power to the investors.
If this power is divided among all of the 500k HAS of the genesis block equally, 1 HAS would be equal to 0.006 Gh/s.
At the current price on CEX.io 0.006 Gh/s = 0.00026813 BTC
So:
1 HAS = 0.006 GH/s ---> 1 HAS = 0.00026813 BTC ??
Assuming this is correct, to sell out 400k HAS you are asking for 107.252 BTC.
So, actually, at those rates, you would take 107.252 BTC for 80% (400K HAS) of 1 KnC miner = 85,801.6 $ (at a rate of 800$/BTC).
... LoL ...
I dont see what to change or what causes your confusion?
We dont sell the hashpower we distribute what it produce.
You example is completly wrong because there is no set price per HAS.
At CEX.io you pay a set amount of BTC for a set amount of hash.
Makeing a direct comparison between HashShares and CEX.io is not relevant in any way.
I also do belive that we will not raise 107.252BTC in donations, most likely alot less, perhaps only a fraction of that.
But if we reach 107.252BTC your example would be "correct", but if 107.252BTC is raised it would allow us to buy alot more mining capacity so it would still be a incorrect calculation, but i agree its interesting to play with the numbers.
You calculations does also completly ignore added future hash capacity that will be guaranteed through
the HashFund.
If you play with some math around the HashFund you will soon realise that it have potential to grow very quick and rapidly increase the hashing capacity of HashShares.
Mmm.
First of all, you say no premine, but you also say 50k HAS are for the dev team and 50k HAS are for bounties ecc, so 100k from the genesis block are actually absolutely a premine.
If you want to have a bit of credibility you absolutely need to change this part in the Q&A and admit it.
Apart from that, you also need to explain a bit more the entire process especially those 2 points:
1 HAS = ?? Haspower
1 BTC donated = ?? HAS
Because, if we look at what you've wrote:
You wrote you're going to pay out just 50% of the BTC generated by the 2 KnC Neptunes, so basically you're "selling" the hashpower from just 1 of the 2 KnC, while keeping the second one for yourself (10% bills and 40% funds).
So, translated, you're selling 3000 Gh/s of power to the investors.
If this power is divided among all of the 500k HAS of the genesis block equally, 1 HAS would be equal to 0.006 Gh/s.
At the current price on CEX.io 0.006 Gh/s = 0.00026813 BTC
So:
1 HAS = 0.006 GH/s ---> 1 HAS = 0.00026813 BTC ??
Assuming this is correct, to sell out 400k HAS you are asking for 107.252 BTC.
So, actually, at those rates, you would take 107.252 BTC for 80% (400K HAS) of 1 KnC miner = 85,801.6 $ (at a rate of 800$/BTC).
... LoL ...
First of all, you say no premine, but you also say 50k HAS are for the dev team and 50k HAS are for bounties ecc, so 100k from the genesis block are actually absolutely a premine.
If you want to have a bit of credibility you absolutely need to change this part in the Q&A and admit it.
Apart from that, you also need to explain a bit more the entire process especially those 2 points:
1 HAS = ?? Haspower
1 BTC donated = ?? HAS
Because, if we look at what you've wrote:
Q. How is this possible?
A. We have aquired 6000GH/s in the form of 2 KnC Neptune miners from the first batch. 50% of the Bitcoins generated the previous day will be paid out directly as Proof of Stake at 00:00 GMT the following day.
Q. What will happen to the other 50%?
A. 10% will be used for electricty, maintenance, internet connection and storage, the other 40% will be deposited into the HashFund.
Q. How will the Genesis blocks 500000HAS be divided.
A. 50000HAS is for the developers, another 50000HAS is for various bountys, promotions, giveaway threads and similar.
The rest(400k) will be divided among the development donators based on their percentage of total Bitcoins donated.
A. We have aquired 6000GH/s in the form of 2 KnC Neptune miners from the first batch. 50% of the Bitcoins generated the previous day will be paid out directly as Proof of Stake at 00:00 GMT the following day.
Q. What will happen to the other 50%?
A. 10% will be used for electricty, maintenance, internet connection and storage, the other 40% will be deposited into the HashFund.
Q. How will the Genesis blocks 500000HAS be divided.
A. 50000HAS is for the developers, another 50000HAS is for various bountys, promotions, giveaway threads and similar.
The rest(400k) will be divided among the development donators based on their percentage of total Bitcoins donated.
You wrote you're going to pay out just 50% of the BTC generated by the 2 KnC Neptunes, so basically you're "selling" the hashpower from just 1 of the 2 KnC, while keeping the second one for yourself (10% bills and 40% funds).
So, translated, you're selling 3000 Gh/s of power to the investors.
If this power is divided among all of the 500k HAS of the genesis block equally, 1 HAS would be equal to 0.006 Gh/s.
At the current price on CEX.io 0.006 Gh/s = 0.00026813 BTC
So:
1 HAS = 0.006 GH/s ---> 1 HAS = 0.00026813 BTC ??
Assuming this is correct, to sell out 400k HAS you are asking for 107.252 BTC.
So, actually, at those rates, you would take 107.252 BTC for 80% (400K HAS) of 1 KnC miner = 85,801.6 $ (at a rate of 800$/BTC).
... LoL ...
No whitepaper? "Send me money"?
Pass.
Pass.
Whitepapers are in my honest opinion not essential for a pre announcement and also very few people actually bother to look at them.
It will however be at the homepage, it is already included in the categorys we have on the drawing board for the homepage.
No whitepaper? "Send me money"?
Pass.
Pass.
As you mentioned that you have done calculation, so based on 6000GH/s how much BTC will be paid to donator/miners monthly? (both depends on how many HAS they get right?)
It is hard to calculate the exact amount of Bitcoins distributed daily/montly since that will depend on the pools luck in finding blocks.
Payouts will be done daily not monthly.
You can use any Bitcoin profitability calculator to get a good estimate of the amount that in theory will be distributed each day.
Yes, the Bitcoins will be divided among all HAS, the more HAS you have in your HAS client the more Bitcoins you will be rewarded as Proof of Stake.
If your HAS is at an exchange then the exchange will get your daily Bitcoin payout.
As you mentioned that you have done calculation, so based on 6000GH/s how much BTC will be paid to donator/miners monthly? (both depends on how many HAS they get right?)
You have a 500,000 size genesis block and then go on to say "no premine".
Tell me again how it's a "fair launch"?
Tell me again how it's a "fair launch"?
Because 80% of the genesis block will be distributed towards donators, 10% will be used for bountys/giveaways/etc
and 10% is reserved for the developers.
We will then have invested around 30000USD out of our own pockets and countless of hours.
I honestly do belive you have slighty missunderstood the term premine.
Please read the entire Q&A.
Depending on how donations work out we might launch with even more capacity already pre ordered from the second Neptune batch.
How it's distributed is irrelevant. A premine is a premine.
In fact, allowing "investors" to buy into your premine makes it even more unfair.
I read your silly proposal. *IF* it's legitimate in any way, which I doubt, there is no reason for anyone to ever sell it. Especially your "investors".
Hence the problem with PoS.
Edit: Your premine is also equal to A FULL YEAR of mining. LOL.
If a full year at your place is 347,22 days then your world is spinning a lot faster then mine.
Look at NXT, 100% premined.. You can buy into AngelShares on a daily basis.
The goal have never been to create a coin you want to sell as easily as the vast majority of other coins.
It will be a complex coin to determine the value of but we do belive that the market will take care of that problem
just like for any other coin.
I am sorry, but this just looks like a hybrid of a normal coin with the IPO crap we have been seeing lately. I think the bitcoin backing of the POS is a very interesting and novel approach. Something that will provide value to the coin as people are going to want to own them in order to share the bitcoin earnings.
At the same time, the IPO part of it leaves a bad taste in my mouth. You don't call it a premine, but it is essentially the same thing. You are taking bitcoins in advance of the release instead of the coin itself to cover your costs and profit. Isn't that the same thing?
At the same time, the IPO part of it leaves a bad taste in my mouth. You don't call it a premine, but it is essentially the same thing. You are taking bitcoins in advance of the release instead of the coin itself to cover your costs and profit. Isn't that the same thing?
Considering the circumstances i would not consider it the same thing as a premine per definition.
This is not a normal scrypt coin, 99.9% of all other coins launched in this subforum have the only intention to hit Cryptsy, be dumped and then slowly be left to die. No other coin will continue to daily generate value to its holders like HAS will.
Yes, part of the point with donations is of course to cover part of our costs so far, to help pay for some of the bits that still needs to get in place for the release and to maybe help to speed up investment rate, we do not claim to be Robin Hood.
We of course want our piece of the cake and want in on the ground floor.
The intention is of course that this coin instead will generate income to ourselfs, the donators and the miners...
We after some discussions calculated that creating this coin would be more profitable over time then to mine ourselfs directly.
This is a calculated risk we take, it is nothing we hide and nothing we are ashamed of.
LOL))) MakeMeRichCOIN 
500k blocks premine
500k blocks premine
total coins is？
You have a 500,000 size genesis block and then go on to say "no premine".
Tell me again how it's a "fair launch"?
Tell me again how it's a "fair launch"?
Because 80% of the genesis block will be distributed towards donators, 10% will be used for bountys/giveaways/etc
and 10% is reserved for the developers.
We will then have invested around 30000USD out of our own pockets and countless of hours.
I honestly do belive you have slighty missunderstood the term premine.
Please read the entire Q&A.
Depending on how donations work out we might launch with even more capacity already pre ordered from the second Neptune batch.
How it's distributed is irrelevant. A premine is a premine.
In fact, allowing "investors" to buy into your premine makes it even more unfair.
I read your silly proposal. *IF* it's legitimate in any way, which I doubt, there is no reason for anyone to ever sell it. Especially your "investors".
Hence the problem with PoS.
Edit: Your premine is also equal to A FULL YEAR of mining. LOL.
I am sorry, but this just looks like a hybrid of a normal coin with the IPO crap we have been seeing lately. I think the bitcoin backing of the POS is a very interesting and novel approach. Something that will provide value to the coin as people are going to want to own them in order to share the bitcoin earnings.
At the same time, the IPO part of it leaves a bad taste in my mouth. You don't call it a premine, but it is essentially the same thing. You are taking bitcoins in advance of the release instead of the coin itself to cover your costs and profit. Isn't that the same thing?
At the same time, the IPO part of it leaves a bad taste in my mouth. You don't call it a premine, but it is essentially the same thing. You are taking bitcoins in advance of the release instead of the coin itself to cover your costs and profit. Isn't that the same thing?
It's sounds to be a good idea. However I will only donate when there's more solid content e.g. website, info released 
That will be made available in a not to distant future, we have a quite generous timeframe between this pre announcement and the actual release.
You have a 500,000 size genesis block and then go on to say "no premine".
Tell me again how it's a "fair launch"?
Tell me again how it's a "fair launch"?
Because 80% of the genesis block will be distributed towards donators, 10% will be used for bountys/giveaways/etc
and 10% is reserved for the developers.
We will then have invested around 30000USD out of our own pockets and countless of hours.
I honestly do belive you have slighty missunderstood the term premine.
Please read the entire Q&A.
Depending on how donations work out we might launch with even more capacity already pre ordered from the second Neptune batch.
You have a 500,000 size genesis block and then go on to say "no premine".
Tell me again how it's a "fair launch"?
Tell me again how it's a "fair launch"?
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