Topic: ULTIMATECOIN (ULT) - page 3. (Read 22366 times)

It is working now

Mining is finished and blockchain froze.

if no decimals is hard,,well, 2 decimals will be good either.
anyway, im counting on your talent works.

I was thinking about that, I do not like the excessive decimals either. I think two decimal places are ideal because it makes it look like real money. It is easy to implement.

We can have ULT pennies, .01 etc. Anyway I believe μULT can only go down as low as 2 decimal places.

It's a good idea but still needs to be thought through/weigh the pros & con's.



 

consider the new coin,, i suggest better keep the total supply in millions,, 100M at most !dont over it !  it's not last year when billion coins were popular.
billion coins are doomed now,, they are easy to mine and they are easy to dump, therefore low value.
recently, 10-20M coins are very well accepted by investors. and they are usually value above 1k satoshi,, easy to catch investors .
the swap can do accordingly to the scale.

abt mining phase, i suggest 7-14 days. early birds get the worm, it's not fairy tale in reality world. and u cant achieve fairness never, coz there's always
unfairness in some people's eyes. therefore, no need to try to.

ULTBANK is a good concept to replace POS stage.  people who saves coins in the web wallet ( bank accounts ) can got interests paid.
but the payout function must work perfectly, otherwise people concern.
also, if there's a bank, there should be loan, we can further explore the functions of the bank.

another BIG idea, which i offered to other coder, but never successed. i like to offer to u also.

can we make a coin without decimals. the smallest unit of the coin is 1 ULT.   not any figure after point,, no need 0.XXXXXXXX.

a coin is A coin,, is 0.1, 0.1234, 0.03003839 a coin ?!

all crypto worlds is fucked by the 8 figures after the decimal... it's exhausted and less fun at all.

if we can make ULT a coin without decimal,, we are really ULTIMATE and UNIQUE !


---------by ivan originally

waldistons, it is all relative, total supply/block reward is around the same as most other coins.

I don't like POS, I like the idea of people earning money from mining. UltimateBank will offer similar function to POS by paying interest on deposits from it's capital reserves.

After the block rewards are finished (on the old coin), there will be 1.5798 Billion(B) ULT out there, 0.5798B is what miners have so far mined, 0.9 billion was allocated to UltimateBank of which there still is 0.859B & 0.1B was my seigniorage.

I don't want to do a pre mine of 1.58B, I would like to keep it under 1B so it will involve everyone taking a cut including the Bank & my seigniorage, it will be fair. I have the responsibility to make sure the coin is not over issued and work to increase it's value.

I will keep you updated of course.

I have talked to the largest holder of ULT and he agrees with me that a swap of 1:1 to the new coin would not be in the best interests of the coin.

When You make new X11 coin, make premine in amount of current coin count of mined ULT and later swap them 1:1, so miners and traders doesn't lose a single coin. Personally I mined EasterCoin as well, but so far I'm very far from being in profit.

Also, PoW should be LONG, at least for couple Years and maybe PoS after that.
But the main point I think - not so huge block rewards!!!

 

Try not to mine the last blocks too fast because i want to give the exchanges some time to update their wallets so they won't have problems.

Anyway for the last week or two there was not a lot of people mining and I thought it was unfair the ones still mining were making so much ULT so I decided to take away the reward.

I am studying for some exams ATM so I can't produce the X11 version until a bit later.

BTW, UltimateBank provides some insurance for the official online wallet & pool.

i got 5M hash in pool,,,, but NET Hash show less than 1M.... any problem ?

maybe 0 block reward when X11 is nearly ready,,, coz i like to mine a big farm

yes, i received 50 ULT. thanks DEV.

im mining now in official pool,,,, seems i found blocks very quickly than expected....

done

make sure you bookmark the page

so i can mine some ULT and keep in the web wallet now,, and waiting for the X11 algo,,, my coins will be still fine,, right ?

can the dev send few ULT to my web wallet to check if it works ?

UWCtQFKPeGwBbBdFcjJeWRuwpDG43zNdif

Please download new version, 2.3 (1.862.0.1)

http://download.ultcoin.org/

You will need this wallet during the transition period.

All Ultimate Online services (pools, online wallets, explorers) are now running the new version.

0 block rewards after 29000.

good luck with everything

Guys the coin has been suffering quite a lot but I suspect a lot of scrypt coins have lately. I think a lot of people have lost interest but the new UltimateCoin X11 will be much more successful.

Those who are still mining and showing dedication will be rewarded as their credits will be moved over onto the new coin.

It will be a complete refresh as well, I have a draft image of the new coin design, I have given it to a ULT person who has very good graphic design skills.



It is quite rough but it is generally what the new design will be like.

I have been busy with things and won't get a chance until about 10 days time to release a X11 version so in the meantime I am going to stop block payments on normal ULT with a update tomorrow. No more block rewards until X11 release. Normal ULT will still be trading but no rewards for miners so please expect that.

The new coin will have a new announce thread as well.

Ok, I am going to release a new version later this week. This version will have around 3 days worth of normal blocks and then it will reduce to zero. I will be updating the pool with this version and other nodes. After the 3 days, older wallets will not sync so you have two options. Move your funds to the online wallet before that happens or you will need to download the newer version if you still have funds in your wallet. I would recommend moving your funds to the online wallet.

About 1 week later I will release the X11 version and you can do the swap. I would like to have a few days in between of no reward blocks being generated to give everyone a break from mining.

By the time of the UltimateCoinX11 relaunch, I expect we will have new coin graphics, it will be a good all round refresh.

So move your funds out of the exchanges and prepare to get ready for the switch over.

I will contact the exchanges before the switch over and inform them of what is happening.

Yeah it needs to change, I am not worried about scrypt asics, just people prefer x11 now.

Great plan , if you do that i am back for sure , i was folowing you , anyway i like the idea

I am going to plan to move the coin over to an X11 algorithm. I think that is holding the coin back is because it is based on scrypt and people do not want to mine scrypt coins anymore.

My plan is to restart the coin to block zero with a new wallet. Current holders of ULT will be fine however, I will do something similar to the ETR to ULT swap I did with EasterCoin.

I will implement this in a few weeks time, right now I am in the planning stages and I would like feedback/input, ideas, recommendations and any concerns you may have.

What do you mean, I noticed the hashrate has dropped a bit somewhat.