Post
Topic
Board Announcements (Altcoins)
Re: ANN - LEOcoin - Official announcement regarding LEOcoin from LEOcoin Foundation
by
ivocoins
on 29/02/2016, 16:52:02 UTC
Could someone tell me when POS wallet will start?

There is no official date yet. We are in close contact with the LEOcoin development team and will post any updates about POS as soon as possible.



Someone wrote that the POS wallet is in a testnig mode and will be lunch soon on the market? Is it that true?

Yes, the LEOcoin development team is working on the changes both with regard to the probable change to a solely POS mechanism, as on the wallet.

This means that the premined coins will generate 70% of the new coins, and everybody else 30%. I think this is the SCAM everybody is talking about

http://explorer.leocoin.org/address/LTBeEWqwzJXAogczHXugrryNVkHCR96h4f
This is where they first gathered the premined coins, then they keep shuffling them around every week.

Now looks like the plan is to switch to POS only and keep everything from themselves. BTW, holding 50 million out of 70 million, they would have 70% of the minting power, they would be able to make a 51% attack, basically leo premine will have FULL control over the network.