[PRE-ANN][HVC] Heavycoin - Ultra-secure, Decentralized Block Reward Voting, Fast - page 58.

keccak512

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Quote from: Miner232432 on February 26, 2014, 10:43:41 AM

Thanks for responding, why not ask your investors what they think ? Using the method I suggest would result in the same outcome as the Escrow method you tried but giving you full control of the coin.

Surely it can't be difficult to refund your investors the money, create a list of everyone investing and then accept payment come launch, if you want honesty & transparency then this the most honest way you can go with this coin and if you do it this way you will have investors jumping in by the bucket load and will get a rep as one of the most honest coins around

The benefits really outweigh any negatives in this situation, it's win/win for everyone, probably moreso for yourself and the coin than anyone else

Your idea is equivalent to premining the 5M HVC and putting it for sale immediately after the mining launch. We won't be doing that.

If you are looking for a zero risk way to obtain a stake in an IPO, then you won't find it here. Current IPO stakeholders have taken substantial risk while others have not. It is precisely this risk that rewards them with a larger amount of Heavycoin at the launch. The terms of the IPO are fixed and we will not be changing things.

delusiona1

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As an investor I believe if you guys are so scared about investing guess what... Wait till the coin is released on an exchange, or mine it from the beginning instead of coming here and spreading FUD. The IPO conditions aren't going to change, as it would be unfair to us IPOers. They have posted some lines of code, and videos for everyone to make the general public feel more relaxed. At this point either invest, or wait, pretty plain and simple if you ask me.

svojoe

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Activity: 968

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einc.io

NO Escrow no investment. Period. Rent CPU miners on day of launch if the coin is real.

If Anon was involved you would already have my BTC waiting for you.

I believe the Dev's should have no problem with 'dealing' with the extra book keeping and showing respect to early investors in a time of so many IPO scams.

Do not risk your hard earned BTC upfront for such a small investment. Rent cpu-cores for fractions of a BTC when/if this coin launches. Get a large stake then in a much lower risk environment.

Accept escrow devs, this is ridiculous to think you are serious about the coin but don't want to provide security for our investments.

Miner232432

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Activity: 210

Merit: 100

Quote from: Jonesd on February 26, 2014, 10:32:58 AM

Fair point. Why not use ESCROW for these kinds of things?

They've tried but couldn't agree on certain conditions (The escrow guy was asking for too much protection for the investor) and didn't want to give too much influence over the coin to one person which would be the case if the conditions were agreed on

They could of course try another escrow or try the method I've asked about but had no reasons why they won't use that method and I can't see any reason why they couldn't use that method if it's all legit and they were willing to use Escrow which result in the same outcomes anyway

Quote from: keccak512 on February 26, 2014, 10:35:33 AM

It's an interesting idea, but it would need to be done from the start. It would be unfair to the current IPO investors to change things now. We will continue to uphold the terms of our IPO.

Thanks for responding, why not ask your investors what they think ? Using the method I suggest would result in the same outcome as the Escrow method you tried but giving you full control of the coin.

Surely it can't be difficult to refund your investors the money, create a list of everyone investing and then accept payment come launch, if you want honesty & transparency then this the most honest way you can go with this coin and if you do it this way you will have investors jumping in by the bucket load and will get a rep as one of the most honest coins around

The benefits really outweigh any negatives in this situation, it's win/win for everyone, probably moreso for yourself and the coin than anyone else

keccak512

full member

Activity: 210

Merit: 100

Quote from: Miner232432 on February 26, 2014, 10:29:36 AM

It still comes down to what I said previously, why can they not accept registrations for investment but only accept payment once they've launched and everything has been checked to see it's as promised, this would be the ideal situation for building confidence in the coin. Investors get their protection in case it's a fail launch and the devs get their money for coming up with the goods, it's win/win

It's an interesting idea, but it would need to be done from the start. It would be unfair to the current IPO investors to change things now. We will continue to uphold the terms of our IPO.

Quote from: Jonesd on February 26, 2014, 10:32:58 AM

I'm also curious how exactly they will secure it for CPU only mining, so far no coin has managed this as the GPU miners have always found a way to overcome these protections against GPU mining and there's far too much invested in GPU mining to put them trying off trying to break these protections and open the floodgates

Have your read the CPU-only section of our website? http://heavycoin.github.io/about.html#cpu-only

There was also some interesting forum discussion on the matter yesterday

https://bitcointalksearch.org/topic/m.5361843
https://bitcointalksearch.org/topic/m.5363048
https://bitcointalksearch.org/topic/m.5363861
https://bitcointalksearch.org/topic/m.5364205

thanks for your interest.

Jonesd

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Quote from: Miner232432 on February 26, 2014, 10:29:36 AM

Quote from: Jonesd on February 26, 2014, 10:14:11 AM

Anybody with enough knowledge to see if this makes sense?

My coding is rusty but it's part of the code for the block reward voting system, however without seeing more of the sourcecode it's hard to tell if it's just made up or not. I'm a pessimist so always dubious but anyone could post a few lines of code to make it look legit and for encouraging in confidence I'd still advise caution against investment.

It still comes down to what I said previously, why can they not accept registrations for investment but only accept payment once they've launched and everything has been checked to see it's as promised, this would be the ideal situation for building confidence in the coin. Investors get their protection in case it's a fail launch and the devs get their money for coming up with the goods, it's win/win

I'm also curious how exactly they will secure it for CPU only mining, so far no coin has managed this as the GPU miners have always found a way to overcome these protections against GPU mining and there's far too much invested in GPU mining to put them trying off trying to break these protections and open the floodgates

Fair point. Why not use ESCROW for these kinds of things?

Miner232432

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Activity: 210

Merit: 100

Quote from: Jonesd on February 26, 2014, 10:14:11 AM

Anybody with enough knowledge to see if this makes sense?

My coding is rusty but it's part of the code for the block reward voting system, however without seeing more of the sourcecode it's hard to tell if it's just made up or not. I'm a pessimist so always dubious but anyone could post a few lines of code to make it look legit and for encouraging in confidence I'd still advise caution against investment.

It still comes down to what I said previously, why can they not accept registrations for investment but only accept payment once they've launched and everything has been checked to see it's as promised, this would be the ideal situation for building confidence in the coin. Investors get their protection in case it's a fail launch and the devs get their money for coming up with the goods, it's win/win

I'm also curious how exactly they will secure it for CPU only mining, so far no coin has managed this as the GPU miners have always found a way to overcome these protections against GPU mining and there's far too much invested in GPU mining to put them trying off trying to break these protections and open the floodgates

keepwalking1234

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Activity: 98

Merit: 10

Quote from: Jonesd on February 26, 2014, 10:14:11 AM

Quote from: keccak512 on February 26, 2014, 09:48:42 AM

code for calculating the block reward based on decentralized voting.

Code:

uint16_t GetCurrentBlockReward(CBlockIndex *pindexPrev)
{
    if (pindexPrev->getSupply() >= nMaxSupply)
        return 0;

    // Tally reward votes every nBlockRewardVoteSpan blocks
    if (!pindexPrev->nHeight || pindexPrev->nHeight % nBlockRewardVoteSpan != 0)
        return pindexPrev->nReward;

    printf("Vote: Calculating new block reward based on votes\n");

    float avg = 0;
    unsigned int count;
    for (count = 0 ;
         count < nBlockRewardVoteSpan && pindexPrev && *pindexPrev->phashBlock != hashGenesisBlock;
         count++) {
        avg += pindexPrev->nVote;
        pindexPrev = pindexPrev->pprev;
    }
    if (!count)
        return pindexPrev->nReward;

    uint16_t nBlockReward = (uint16_t)round((double)avg/(double)count);
    printf("Vote: Tallied %u votes - average block reward vote is %hu\n", count, nBlockReward);

    return nBlockReward;
}

Anybody with enough knowledge to see if this makes sense?

yeah, it‘s some new exciting features add to this new coin!

keepwalking1234

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Activity: 98

Merit: 10

Quote from: keccak512 on February 26, 2014, 10:15:42 AM

keepwalking1234: no worries. we understand completely and we're glad to have you aboard.

thanks! will invest some btc later.

keccak512

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Activity: 210

Merit: 100

keepwalking1234: no worries. we understand completely and we're glad to have you aboard.

Jonesd

legendary

Activity: 1876

Merit: 1014

Quote from: keccak512 on February 26, 2014, 09:48:42 AM

code for calculating the block reward based on decentralized voting.

Code:

uint16_t GetCurrentBlockReward(CBlockIndex *pindexPrev)
{
    if (pindexPrev->getSupply() >= nMaxSupply)
        return 0;

    // Tally reward votes every nBlockRewardVoteSpan blocks
    if (!pindexPrev->nHeight || pindexPrev->nHeight % nBlockRewardVoteSpan != 0)
        return pindexPrev->nReward;

    printf("Vote: Calculating new block reward based on votes\n");

    float avg = 0;
    unsigned int count;
    for (count = 0 ;
         count < nBlockRewardVoteSpan && pindexPrev && *pindexPrev->phashBlock != hashGenesisBlock;
         count++) {
        avg += pindexPrev->nVote;
        pindexPrev = pindexPrev->pprev;
    }
    if (!count)
        return pindexPrev->nReward;

    uint16_t nBlockReward = (uint16_t)round((double)avg/(double)count);
    printf("Vote: Tallied %u votes - average block reward vote is %hu\n", count, nBlockReward);

    return nBlockReward;
}

Anybody with enough knowledge to see if this makes sense?

keepwalking1234

member

Activity: 98

Merit: 10

Quote from: keccak512 on February 26, 2014, 09:48:42 AM

code for calculating the block reward based on decentralized voting.

Code:

uint16_t GetCurrentBlockReward(CBlockIndex *pindexPrev)
{
    if (pindexPrev->getSupply() >= nMaxSupply)
        return 0;

    // Tally reward votes every nBlockRewardVoteSpan blocks
    if (!pindexPrev->nHeight || pindexPrev->nHeight % nBlockRewardVoteSpan != 0)
        return pindexPrev->nReward;

    printf("Vote: Calculating new block reward based on votes\n");

    float avg = 0;
    unsigned int count;
    for (count = 0 ;
         count < nBlockRewardVoteSpan && pindexPrev && *pindexPrev->phashBlock != hashGenesisBlock;
         count++) {
        avg += pindexPrev->nVote;
        pindexPrev = pindexPrev->pprev;
    }
    if (!count)
        return pindexPrev->nReward;

    uint16_t nBlockReward = (uint16_t)round((double)avg/(double)count);
    printf("Vote: Tallied %u votes - average block reward vote is %hu\n", count, nBlockReward);

    return nBlockReward;
}

hi

dev team

sorry for the suspect of heavycoin,because some people got scamed many btc by stackcoin, so hope you can understand!

sorry for my suspect, i will invest some btc to heavy coin！

hope heavycoin has a bright future！

thanks！ Smiley

keccak512

full member

Activity: 210

Merit: 100

code for calculating the block reward based on decentralized voting.

Code:

uint16_t GetCurrentBlockReward(CBlockIndex *pindexPrev)
{
    if (pindexPrev->getSupply() >= nMaxSupply)
        return 0;

    // Tally reward votes every nBlockRewardVoteSpan blocks
    if (!pindexPrev->nHeight || pindexPrev->nHeight % nBlockRewardVoteSpan != 0)
        return pindexPrev->nReward;

    printf("Vote: Calculating new block reward based on votes\n");

    float avg = 0;
    unsigned int count;
    for (count = 0 ;
         count < nBlockRewardVoteSpan && pindexPrev && *pindexPrev->phashBlock != hashGenesisBlock;
         count++) {
        avg += pindexPrev->nVote;
        pindexPrev = pindexPrev->pprev;
    }
    if (!count)
        return pindexPrev->nReward;

    uint16_t nBlockReward = (uint16_t)round((double)avg/(double)count);
    printf("Vote: Tallied %u votes - average block reward vote is %hu\n", count, nBlockReward);

    return nBlockReward;
}

it iterates back over the blockchain and averages the votes. nBlockRewardVoteSpan is the number of blocks to go back, which is set to 3600. for those familiar with the bitcoin source, this function works similar to the GetNextBlockReward function.

keepwalking1234

member

Activity: 98

Merit: 10

Quote from: keccak512 on February 26, 2014, 09:32:25 AM

Quote from: keepwalking1234 on February 26, 2014, 09:07:32 AM

hi

dev team

can you just post a little part of the source code of heavy-coin???

then i will invest some btc!!!.

thank you very much！dev team.

This is a fine idea. Give me a minute.

thanks dev team, much appreciate that！

thank you very much
i am in, will invest some btc

keccak512

full member

Activity: 210

Merit: 100

Quote from: keepwalking1234 on February 26, 2014, 09:07:32 AM

hi

dev team

can you just post a little part of the source code of heavy-coin???

then i will invest some btc!!!.

thank you very much！dev team.

This is a fine idea. Give me a minute.

keccak512

full member

Activity: 210

Merit: 100

Quote from: Djinou94 on February 26, 2014, 08:59:24 AM

ID : 012646aa2878575ab3eac400b2bafd66aea99d2cbc5f447d0dd1ac7935d83705
Amount sent : 0.2 BTC

thanks! confirmed. we will send you a PM later today.

Jonesd

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Activity: 1876

Merit: 1014

Quote from: keepwalking1234 on February 26, 2014, 09:20:46 AM

Quote from: Miner232432 on February 26, 2014, 05:49:49 AM

Quote from: keccak512 on February 26, 2014, 05:37:32 AM

Quote from: Miner232432 on February 26, 2014, 04:28:55 AM

I'm sorry but why can you not just do our homework for us and show us the proof you're not going to be the next STACK ?

We cannot do your homework for you. We cannot prove we are legit other than by releasing Heavycoin. And you will see that in due course.

Quote from: Miner232432 on February 26, 2014, 04:28:55 AM

It's nothing to do with marketing campaigns it's about being open and transparent to encourage confidence to invest in your coin, if you really wanted your coin to succeed something like this would be one of your top priorities from the outset considering how bad some coin launches have been which have been incredibly counter productive to promoting trust in crypto currency

We've done everything we are willing to do. The IPO is only a small part of the Heavycoin launch. I think that if you go back and read our posts you will find that we are being open and transparent. The Heavycoin IPO may not match your risk level. In that case you should not invest. However, we encourage you to take part in the mining and the bounties phases.

I have read and I understand your problem with the escrow service but surely you could have come to compromise to find a solution or at least look for other escrow alternatives, I'm sure you're legit, however STACK dev seemed legit too and was often posting to encourage confidence and look how that ended up, so I hope you understand why people are looking for proof of concept in your venture (and looking from your previous posts you do have some empathy towards this)

Would it not be possible to have registration for IPO but not accept payment until launch is complete ? You're still getting your money but investors are assured with confidence that they can see a launch before committing their assets without need for escrow ?

To me this would be best option for your venture whilst protecting investors unless you're in desperate need for the money upfront to cover your overheads before launch, there are of course other alternatives to encouraging confidence but it would depend on how willing you are to disclose personal information about yourself with evidence which could be considered a security risk and possibly against the ToS of this forum.

I will be mining this come launch as it does seem an interesting coin, so I hope it turns out well but investing is just too high risk right now based solely on promises from another stranger on the internet. I wish we had a world where everyone was honest so things like this wouldn't be an issue however that isn't reality Sad

i totally agree with what you said, so dev team, why not show us a little source code of heavy coin？, just a little is enough！Thanks！

Very true

keepwalking1234

member

Activity: 98

Merit: 10

Quote from: Miner232432 on February 26, 2014, 05:49:49 AM

Quote from: keccak512 on February 26, 2014, 05:37:32 AM

Quote from: Miner232432 on February 26, 2014, 04:28:55 AM

I'm sorry but why can you not just do our homework for us and show us the proof you're not going to be the next STACK ?

We cannot do your homework for you. We cannot prove we are legit other than by releasing Heavycoin. And you will see that in due course.

Quote from: Miner232432 on February 26, 2014, 04:28:55 AM

It's nothing to do with marketing campaigns it's about being open and transparent to encourage confidence to invest in your coin, if you really wanted your coin to succeed something like this would be one of your top priorities from the outset considering how bad some coin launches have been which have been incredibly counter productive to promoting trust in crypto currency

We've done everything we are willing to do. The IPO is only a small part of the Heavycoin launch. I think that if you go back and read our posts you will find that we are being open and transparent. The Heavycoin IPO may not match your risk level. In that case you should not invest. However, we encourage you to take part in the mining and the bounties phases.

I have read and I understand your problem with the escrow service but surely you could have come to compromise to find a solution or at least look for other escrow alternatives, I'm sure you're legit, however STACK dev seemed legit too and was often posting to encourage confidence and look how that ended up, so I hope you understand why people are looking for proof of concept in your venture (and looking from your previous posts you do have some empathy towards this)

Would it not be possible to have registration for IPO but not accept payment until launch is complete ? You're still getting your money but investors are assured with confidence that they can see a launch before committing their assets without need for escrow ?

To me this would be best option for your venture whilst protecting investors unless you're in desperate need for the money upfront to cover your overheads before launch, there are of course other alternatives to encouraging confidence but it would depend on how willing you are to disclose personal information about yourself with evidence which could be considered a security risk and possibly against the ToS of this forum.

I will be mining this come launch as it does seem an interesting coin, so I hope it turns out well but investing is just too high risk right now based solely on promises from another stranger on the internet. I wish we had a world where everyone was honest so things like this wouldn't be an issue however that isn't reality Sad

i totally agree with what you said, so dev team, why not show us a little source code of heavy coin？just a little is enough！Thanks！

keepwalking1234

member

Activity: 98

Merit: 10

hi

dev team

can you just post a little part of the source code of heavy-coin???

then i will invest some btc!!!.

thank you very much！dev team.

Djinou94

legendary

Activity: 1036

Merit: 1000

ID : 012646aa2878575ab3eac400b2bafd66aea99d2cbc5f447d0dd1ac7935d83705
Amount sent : 0.2 BTC

Topic: [PRE-ANN][HVC] Heavycoin - Ultra-secure, Decentralized Block Reward Voting, Fast - page 58. (Read 140040 times)