Topic: [PRE-ANN] Munich Project - Reinventing Bitcoin - Alt-coin / Wallet / Exchange - page 3. (Read 5693 times)

- New way of syncing with the blockchain in seconds without any security compromise
- Best way to optain a system who can handle much more transactions than any coins right now, without the hassle to download the entire blockchain for each client. And without any security compromise (PoW, new PoS implementation)
- User friendly wallet, designed for the average Joe, with unique cloud system for security of the funds
- Best way as we know to scale difficulty and algorithm n-factor over the time
- First exchange directly linked and implemented to the wallet, you can use it without the fear to loose coins when you don't trade
- Better distribution of the coins to avoid big stake holders cause of IPO, early mining, insta mining, ASICS, etc.
- Not fully disclosed plans over the time to promote the coin at a profesional level. Bitcoin/Litecoin core team and foundation is not funded well in our opinion.
- Our supporters will vote the actions our team will take to promote the coin. We thinks the community is the most important thing.

This is only few things that comes in my mind when I think about the improvements we offer

I agree it is hard to make something better on our side for now about our paper, cause of our lack of english. But feel free to offer us some improvements for our paper - we'll edit it without problems.

Donn

Have you ever tried to understand the algorithms behind any coin?

They're all mind bending, even Elliptic curve cryptography, which is a basic part of it. The wiki page on it could be a gigantic piss take and I'd not have an inkling.

What I am saying is your whole write up is just a confusing rant (admittedly some of that maybe cause english is not your first language). Read the whole lot and don't see a single thing it improves on Bitcoin (and I am actually no real fan of bitcoin), yet you state "Reinventing Bitcoin"?

What is simpler that anybody on the earth knows : 1 cent is the smallest currency unit you can own. Works in every country.

Try to explain your grand-mother she can have 0,0000001 Bitcoin. That's a lot of zeros after the decimal point for the masses.

Donn

The whole things a confusing waste of space......try the KISS principle.

Did you know the first year of Bitcoin generated 2628 Billions of uBTC ?

If you read our paper, you'll see it's not possible to divide one of our coin by more than 100 (0,01 minimal unit).

More coins, less divisable, a better user-friendly way to see things.

Also, 16 Billions of 256 total is only 6,25% of the total supply.

For information, 12,51% of Bitcoin total supply was mined the first year. This is what we call a good repartition over the time.

Donn

Don't forget Doge is only 100 days old

To be honest, we own some Doge, we believe a community is probably the most important thing for a crypto-coin

However, we think Doge is lacking of technological advances -- beeing "only" a fork of Litecoin is not the way we see a successful crypto-currency in the future.

Donn

"We don't want our coins to "flood" the market. In fact, we believe the key of the success is a good repartition of the coin creation over the time.

The first year will generate 16 Billions of coins."

lol

Hello,

Sure, as soon as the first blocks with rewards will be mined, the dev team will receive 1% of each block reward for public actions.

Free giveaways are part of what we will do with this coins.

Donn

Will there be any free giveaways of this coin?

That's why Doge will win.
Regardless, good luck.

Bitcoin concept is existing for more than 4 years now, I don't see a problem with this timeframe.

The crypto-market currently needs people involved in their projects in the long run. We are involved as much as it is possible.

The IPO is clearly designed for the long term believers.

We don't want to run a "pump and dump" sheme with all the power to the initial investors and/or us, this is just not our philosophy, nor our goal.

Our main goal after all our initials plans (coin, exchange, explorer, wallet + web-wallet) is clearly to run a customer and business owner friendly service to spend and accept our coins easely for BTC, LTC, or cash. Because a money is not a money if you can't spend it everywhere.

If we don't plan at least for 4 years, it means this goal will not be reachable.

The future of crypto-currencies is in our opinion the mass acceptance by the merchents and their customers -- not something only designed for geeks.

Donn

We understand your point,

Our core is almost ready to launch, we already have succeed 2 test networks to fully try the fundamentals of our coin. If you read our paper, you will see we improved a lot compared to the base of Bitcoin. We will run a final test is ~2 weeks to ultimately check all is functional. However, we will not disclose the source code until the coin is ready to launch, to avoid copy-cats and thief of ideas.

About the wallet, we'll share more later (UI), when it will be ready to be "visible". Currently, it needs more work to be presentable. Probably in ~3 weeks.

We are also working on our website, we're just waiting for the coin final name to launch it.

Anyways, there is many things coming in the next weeks, please don't consider our first post as our last one -- we knows how to communicate

Donn

Yes, I know that total supply will be reached in a century and, trust me, you won't exist in a century.
4 years IPO payouts is too long as well.
Really, it's far too long term of a project for this incredibly fast moving landscape.

Words on a forum (ie: a "whitepaper") are pretty much meaningless these days.  Put some effort in and get some real working code going before you start asking people for money.  That's how it works in the real world.  We're done with scamming panhandlers around here.  There's too many people walking away too much virtual currency these days pissing off too many "investors".

Hello,

We understand computing will be much more different in 4 years.

However, we had to make a choice today, and in our mind, scrypt with n-factor depending of the network total hashrate is by far the best solution.

And if by any chance scrypt with n-factor is not enough in X years, we are not against an hard fork to update the coin core to the new hardware -- we want to keep ASICS out of our coin over the time.

BTW, the total supply will not be reached after 4 years -- we are only talking about the IPO investors and the development team funding for public actions with this timeframe

Donn

Hello,

4 persons at ~3400 EUR / month (on average) * 8 month without income = 108K€

150K EUR != $150K USD by the way

Not living like kings, but we earn money depending of our qualifications. We are not kids, and we all have famility responsabilities.

Donn

Far too long term. 4 years in the Crypto market is centuries in real world. 4 years from now we won't even be using scryptn, probably.

Hello,

We are aware IPO's are not really popular these days, especially after so many failed projects / scams.

This is why we took a long time to describe our project the better we can, with many details.

However, as we are saying in our paper, nothing obliges you to take part of the IPO -- you can just wait the start of the coin, and mine with your hardware at this moment to take part of our project

Unfortunately, IPO is to us the only way right now to get extra time (hopefully months) to work on the project -- as we are running low on funds

Donn

150K euro? Did you live like kings then or what?

"IPO" & "investment" are tossed around too much these days.