Post
Topic
Board Announcements (Altcoins)
Re: New [ANN] [$XSEED] BitSeeds - Rainforest Foundation Charity - SHA256 PoW/PoS 10%
by
worth
on 21/04/2016, 00:02:37 UTC
OK everyone, so here's what we're looking at for our timeline:

We'll be getting copies of the new codebase and wallets in a few days which we will not be posting immediately.  We're going to do some mining tests on a private pool -- testing with zero reward blocks -- and we'll be sharing the code with Bittrex so they can do their standard code review and prep for the new version.

We'll wait a bit to make sure everyone has had a chance to learn that the swap is coming up (please make sure to share this on Facebook, Twitter, Reddit, etc. so people know it's coming) and then at 4PM GMT Thursday the 28th we will be taking a snapshot of all wallet balances from the old chain.

See http://www.timebie.com/std/gmt.php?q=16  to check what time this is in your local time zone.

Within 24 hours after that, your balances will be available to you again on the new chain and once we've verified everything is working smoothly we'll release the new wallets and source to the public along with a new pair of video lessons - one for Windows, one for Mac - showing the steps to follow to upgrade and recover your existing funds. 

Assuming everything has been going smoothly at this point we will then open up public mining with a brief period of extremely low POW reward before reverting to 10 full XSEED per block and the original planned gradual reward reduction schedule of 0.025 XSEED reduction every 90 days over the next ~99 years.  The initial low reward will give everyone a chance to start mining without being penalized for not being one of the first people to mine.

Let me know if you have any questions and please RT any tweets about this from @BitSeeds and share it elsewhere to make sure everyone is prepared. I'm excited, how about you guys?