XC's code will be completely open source. That's part of the appeal of the currency.
In contrast, XC Inc's
Is there some announcement about this development?
https://bitcointalksearch.org/topic/m.8942146
Topic: [XC][XCurrency] Decentralised Trustless Privacy Platform / Encrypted XChat / Pos - page 283. (Read 1484218 times)
September 23, 2014, 11:23:52 PM
XC's code will be completely open source. That's part of the appeal of the currency.
In contrast, XC Inc's
Is there some announcement about this development?
https://bitcointalksearch.org/topic/m.8942146
September 23, 2014, 11:16:25 PM
XC's code will be completely open source. That's part of the appeal of the currency.
In contrast, XC Inc's
Is there some announcement about this development?
September 23, 2014, 11:13:26 PM
Did Krystos have anything more to say about XC?
September 23, 2014, 10:13:10 PM
I'm only questioning what Pizpie said, that xcurrency is a service/product to be controlled by xc inc. I'm concerned about how the wallet may change. If xc is open-sourced will there be other wallets created by new start ups? Will xc inc embrace the competition? When will xcurrency be fully open sourced? I'm heavily invested here and have many questions and concerns. I don't mean to disrespect the team or the community and appreciate all of their hard work and input. I know I'm not the only one with these questions.
Open sourcing is on a delayed timeline...case in point, Key Coin implemented XC's Rev 1 but when they did, XC was still way ahead of them...they benefited strongly in the short term but have tailed off significantly. I'm not sure how much further down they would be if Dan wasn't helping with their OS (Disclaimer: I think it is awesome that Dan/XC team is working with other platforms though I don't chase them when announced. I don't daytrade)...
Also consider Tesla Motors. They announced that they were open sourced and they went up in value. While that may be apples and oranges, the delayed timeline for XC open sourcing in tandem with the amount of integration they will have by then (presumably with 3.0 apps and more) then I am not worried about it in the least.
I'm only wondering how they will compete with Maidsafe...the projects are starting to sound very similar in idea...though I think that technicals might be way different (I really don't know on the latter nor do I really need to)...
As far as the term decentralized...I think it refers more to how the information is stored and transferred, which is between wallets installed on who knows how many computers rather than a server(s) located at a corporate HQ location. The brand and coding could arguably be 'centralized' but that would be semantics and irrelevant in my opinion...
September 23, 2014, 09:58:38 PM
How can XCurrency be a decentralized currency when you say it is a product/service offered and controlled by XC Inc., that is a total contradiction. It seems like the team has some things to think about before continuing to make announcements. Earlier, Synechist said XCurrency and XC inc. have no organic connection, which is it? Come on people, this is the time to ask the tough questions and not follow blindly! 
Edit: And if the currency is controlled by xc inc., I ask again, why would any other company accept a centralized product controlled by another company as payment?
Edit: And if the currency is controlled by xc inc., I ask again, why would any other company accept a centralized product controlled by another company as payment?
XC inc IS a company built on XC. the company is just developing apps on XC.
xc is neither controlled by XC inc nor centralized. anyone can develop apps on XC
AND how can XC inc control a distributed coin which has nothing to do with centralized supernode or something.
I'm only questioning what Pizpie said, that xcurrency is a service/product to be controlled by xc inc. If xc is open-sourced will there be other wallets created by new start ups? Will xc inc embrace the competition? When will xcurrency be fully open sourced? I'm heavily invested here and have many questions and concerns. I don't mean to disrespect the team or the community and appreciate all of their hard work and input. I know I'm not the only one with these questions.
September 23, 2014, 09:52:02 PM
How can XCurrency be a decentralized currency when you say it is a product/service offered and controlled by XC Inc., that is a total contradiction. It seems like the team has some things to think about before continuing to make announcements. Earlier, Synechist said XCurrency and XC inc. have no organic connection, which is it? Come on people, this is the time to ask the tough questions and not follow blindly!
Edit: And if the currency is controlled by xc inc., I ask again, why would any other company accept a centralized product controlled by another company as payment?
Edit: And if the currency is controlled by xc inc., I ask again, why would any other company accept a centralized product controlled by another company as payment?
XC inc IS a company built on XC. the company is just developing apps on XC.
xc is neither controlled by XC inc nor centralized. anyone can develop apps on XC
AND how can XC inc control a distributed coin which has nothing to do with centralized supernode or something.
September 23, 2014, 09:49:49 PM
How can XCurrency be a decentralized currency when you say it is a product/service offered and controlled by XC Inc., that is a total contradiction. It seems like the team has some things to think about before continuing to make announcements. Earlier, Synechist said XCurrency and XC inc. have no organic connection, which is it? Come on people, this is the time to ask the tough questions and not follow blindly!
Edit: And if the currency is controlled by xc inc., I ask again, why would any other company accept a centralized product controlled by another company as payment?
It seems to me you are arguing semantics. XC inc will "control" the XC wallet, just as it does now. Except now it is called the XC team, not XC Inc. When XC inc. is formed, how will the wallet be less decentralized than it is now?
Maybe maintain is a better word than control.
September 23, 2014, 09:33:39 PM
Quote
think we need to have a lock time or else some people might exploit it by claiming shares, then moving coins back to exchange and moving it back to another wallet.
If you need your coins on the exchange by lock time... then sorry. no shares.
If you need your coins on the exchange by lock time... then sorry. no shares.
Yes, there will be a locked period. Much like how Archcoin and Supernet preformed their ICO. You won't gain access to the share until the IPO is finished. The market would be frozen for a time while the shares were distributed.
Quote
One concern I have is that creating xc inc. will deter people from using xcurrency, and once xc is a corporation, competing companies may not want to accept xcurrency. This is exciting news and I am intrigued, however there seems to be a catch 22 here. The explosion of btc and crypto can be attributed to their decentralized nature, how does xcurrency plan on remaining decentralized, especially when a majority of the xcurrency is also owned by soon to be company shareholders? Any thoughts?
'XCurrency' is a product / service under and controlled by 'XC Inc.' This service is money transfer / storage, which can be used be retailers as a form of payment. I hope this makes sense.
'XC Inc.' offers services and products such as 'XCurrency' or 'XChat' and so on...
XC tech is and will remain decentralized. That was Satoshi's original vision...XC continues that vision with the goal up 'Decentralizing the internet and services' Most anon solutions out there are in fact centralized, which is a complete 360 on what Satoshi intended crypto-currency and blockchain products to be. I won't name any names...
Quote
If I buy 51% of shares, can I destroy Xcurrency? Wink
This hasn't been ratified yet, but 51% of the company would remain in 'XC hands' so we retain control and direction into the future.
As for the 'IPO / ICO ' name - Yes, there are legal implications that do arise. We are aware of this, and for that reason, this 'ICO' will be called a 'Pre-product or token sale or distribution '. Terminology is very crucial here. With that said, I can say that we are already in the process / contact with the proper entities and authorities to solve all these concerns, and will have all this ironed out soon. An official, public announcement will be made on both our main website (www.xc-official.com), forums, and social media outlets once everything is in stone.
We are very pleased that everyone is so excited. Since day one we (the XC team) have had a shared vision / direction in where we saw XC going. Today we were able to begin sharing that vision with everyone.
We want to hear what your thoughts are, and continued discussion is fundamental to the long term success of XC. We will try to answer as many questions as possible, and provide all information in a timely manner. There is much more to come. This is only the beginning, but nothing will be the same.
Be sure to follow us on Twitter @XCurrency and on Facebook (https://www.facebook.com/XCurrency) for the latest news and releases from XC.
Thank you.
Nick Cote,
XC Social Media Manager
How can XCurrency be a decentralized currency when you say it is a product/service offered and controlled by XC Inc., that is a total contradiction. It seems like the team has some things to think about before continuing to make announcements. Earlier, Synechist said XCurrency and XC inc. have no organic connection, which is it? Come on people, this is the time to ask the tough questions and not follow blindly!
Edit: And if the currency is controlled by xc inc., I ask again, why would any other company accept a centralized product controlled by another company as payment?
September 23, 2014, 09:33:04 PM
To avoid dumping its a matter of sequence.
1. First do your internal share offering for the holders of XC currency where they are 'given' shares based on how many XC they hold. Close off 1.
2. Then allow the wider community to purchase shares using XC currency only - you could recycle the currency almost straight back to market to avoid price exploding beyond what is sustainable.
3. Then allow the wider community to purchase shares using any currency.
This should give a softer landing for XC. IMHO I would skip 3 and only do 1 & 2, much better for everyone.
1. First do your internal share offering for the holders of XC currency where they are 'given' shares based on how many XC they hold. Close off 1.
2. Then allow the wider community to purchase shares using XC currency only - you could recycle the currency almost straight back to market to avoid price exploding beyond what is sustainable.
3. Then allow the wider community to purchase shares using any currency.
This should give a softer landing for XC. IMHO I would skip 3 and only do 1 & 2, much better for everyone.
September 23, 2014, 09:11:22 PM
Hey gents, just and idea. It would be best if all markets froze the coin and distribute the shares during this period, in this matter everybody that holds XC would get the shares. This would also prevent any pump and dump scheme.
True, but it wouldn't be enough. I could trade off-exchange, and I could also claim XC Inc. shares, then pay the coins to another of my addresses, and claim again.
A multisig lock-in on a per-claim basis will be necessary.
address snapshot at certain time is enough ?
I don't know how that would work.
September 23, 2014, 09:09:49 PM
Hey gents, just and idea. It would be best if all markets froze the coin and distribute the shares during this period, in this matter everybody that holds XC would get the shares. This would also prevent any pump and dump scheme.
True, but it wouldn't be enough. I could trade off-exchange, and I could also claim XC Inc. shares, then pay the coins to another of my addresses, and claim again.
A multisig lock-in on a per-claim basis will be necessary.
address snapshot at certain time is enough ?
September 23, 2014, 08:56:35 PM
Hey gents, just and idea. It would be best if all markets froze the coin and distribute the shares during this period, in this matter everybody that holds XC would get the shares. This would also prevent any pump and dump scheme.
True, but it wouldn't be enough. I could trade off-exchange, and I could also claim XC Inc. shares, then pay the coins to another of my addresses, and claim again.
A multisig lock-in on a per-claim basis will be necessary.
September 23, 2014, 08:54:53 PM
Hey gents, just and idea. It would be best if all markets froze the coin and distribute the shares during this period, in this matter everybody that holds XC would get the shares. This would also prevent any pump and dump scheme. Of course if xc is in your wallet you get the shares too.
September 23, 2014, 08:40:44 PM
My head is spinning 
.
Are we nixing the whole open source thing?
.Are we nixing the whole open source thing?
No.
XC's code will be completely open source. That's part of the appeal of the currency.
In contrast, XC Inc's appeal will stem from its ability to consistently deliver ground-breaking innovations, including lots of apps based on XCurrency.
Better still, XC's platform will allow third parties to develop blockchain 2.0 apps of their own, which of course will also run on XCurrency.
Awesome this is where things needed to go. Opening things up so others can get involved. The only way to make sure the currency survives and thrives. Nice work team.
Maybe I am selfish, there are good things and bad things with open source. Bad being the rise of the scam and crap clone coins.
First to market and with the best ecosystem will win. We are not the only coin with our eye on this goal. We can not do it alone. We need to open it up so others can build the ecosystem.
September 23, 2014, 08:35:32 PM
I like your points. I also have a question for the team.
How can we prove how much XC we have?
You could sign a message with the private key associated with the address your coins are at.
Thanks for the quick reply. Can you explain a little more how does this sign a message work?
Is it possible that people sign a message to claim the "shares", move the coins to other wallet then sign and claim again.
No, this won't be possible. Coins will be locked for the duration of the ITO.
Signing a message is kind-of how cryptocurrencies work. In order to spend a coin, you have to prove you own it, and you do so by signing with your private key. That's what wallets do every time you make a payment.
So in this case you'd sign, but not pay. This would prove your ownership of the coins.
Additionally, some sort of multisig transaction or escrow system could be used to lock the coins.
September 23, 2014, 08:33:50 PM
As for the 'IPO / ICO ' name - Yes, there are legal implications that do arise. We are aware of this, and for that reason, this 'ICO' will be called a 'Pre-product or token sale or distribution '. Terminology is very crucial here.
Aha, yes, I've been meaning to mention that the press release (which you saw earlier and which will be sent to the media at 3am EST) will term this an "ITO" - for "initial token offering." This is to distinguish it from an IPO, since the asset offered will not legally be a security at the time of the event, and we'd get into trouble if we use terms with legal ramifications.
September 23, 2014, 08:32:20 PM
My head is spinning .
Are we nixing the whole open source thing?
.Are we nixing the whole open source thing?
No.
XC's code will be completely open source. That's part of the appeal of the currency.
In contrast, XC Inc's appeal will stem from its ability to consistently deliver ground-breaking innovations, including lots of apps based on XCurrency.
Better still, XC's platform will allow third parties to develop blockchain 2.0 apps of their own, which of course will also run on XCurrency.
Awesome this is where things needed to go. Opening things up so others can get involved. The only way to make sure the currency survives and thrives. Nice work team.
Maybe I am selfish, there are good things and bad things with open source. Bad being the rise of the scam and crap clone coins.
You bring up some good points.
XCurrency is planned to re-main open source.
However, other products / services XC Inc. develops and distributes may or may not be open.
You can't run a business if everyone can steal every idea you have. Remember that products / services of XC are separate ventures in their own right, all under the 'XC Inc.'
Much like how Apple has their 'Macs', 'iPods', 'iPhones'
Separate products /services. One company.
September 23, 2014, 08:30:41 PM
I like your points. I also have a question for the team.
How can we prove how much XC we have?
You could sign a message with the private key associated with the address your coins are at.
Thanks for the quick reply. Can you explain a little more how does this sign a message work?
Is it possible that people sign a message to claim the "shares", move the coins to other wallet then sign and claim again.
September 23, 2014, 08:28:53 PM
My head is spinning .
Are we nixing the whole open source thing?
.Are we nixing the whole open source thing?
No.
XC's code will be completely open source. That's part of the appeal of the currency.
In contrast, XC Inc's appeal will stem from its ability to consistently deliver ground-breaking innovations, including lots of apps based on XCurrency.
Better still, XC's platform will allow third parties to develop blockchain 2.0 apps of their own, which of course will also run on XCurrency.
Awesome this is where things needed to go. Opening things up so others can get involved. The only way to make sure the currency survives and thrives. Nice work team.
Maybe I am selfish, there are good things and bad things with open source. Bad being the rise of the scam and crap clone coins.
September 23, 2014, 08:28:02 PM
Quote
think we need to have a lock time or else some people might exploit it by claiming shares, then moving coins back to exchange and moving it back to another wallet.
If you need your coins on the exchange by lock time... then sorry. no shares.
If you need your coins on the exchange by lock time... then sorry. no shares.
Yes, there will be a locked period. Much like how Archcoin and Supernet preformed their ICO. You won't gain access to the share until the IPO is finished. The market would be frozen for a time while the shares were distributed.
Quote
One concern I have is that creating xc inc. will deter people from using xcurrency, and once xc is a corporation, competing companies may not want to accept xcurrency. This is exciting news and I am intrigued, however there seems to be a catch 22 here. The explosion of btc and crypto can be attributed to their decentralized nature, how does xcurrency plan on remaining decentralized, especially when a majority of the xcurrency is also owned by soon to be company shareholders? Any thoughts?
'XCurrency' is a product / service under and controlled by 'XC Inc.' This service is money transfer / storage, which can be used be retailers as a form of payment. I hope this makes sense.
'XC Inc.' offers services and products such as 'XCurrency' or 'XChat' and so on...
XC tech is and will remain decentralized. That was Satoshi's original vision...XC continues that vision with the goal up 'Decentralizing the internet and services' Most anon solutions out there are in fact centralized, which is a complete 360 on what Satoshi intended crypto-currency and blockchain products to be. I won't name any names...
Quote
If I buy 51% of shares, can I destroy Xcurrency? Wink
This hasn't been ratified yet, but 51% of the company would remain in 'XC hands' so we retain control and direction into the future.
As for the 'IPO / ICO ' name - Yes, there are legal implications that do arise. We are aware of this, and for that reason, this 'ICO' will be called a 'Pre-product or token sale or distribution '. Terminology is very crucial here. With that said, I can say that we are already in the process / contact with the proper entities and authorities to solve all these concerns, and will have all this ironed out soon. An official, public announcement will be made on both our main website (www.xc-official.com), forums, and social media outlets once everything is in stone.
We are very pleased that everyone is so excited. Since day one we (the XC team) have had a shared vision / direction in where we saw XC going. Today we were able to begin sharing that vision with everyone.
We want to hear what your thoughts are, and continued discussion is fundamental to the long term success of XC. We will try to answer as many questions as possible, and provide all information in a timely manner. There is much more to come. This is only the beginning, but nothing will be the same.
Be sure to follow us on Twitter @XCurrency and on Facebook (https://www.facebook.com/XCurrency) for the latest news and releases from XC.
Thank you.
Nick Cote,
XC Social Media Manager
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