Quote from: KarmaShark on June 17, 2017, 10:08:02 PM

Quote from: Bimmerhead on June 17, 2017, 07:37:49 PM

Will Helium coins be distributed right after the August 1 snapshot?
If so, how will we hold them? Will there be a Helium wallet by that time, or will they be an ERC20 token or something else that can be exchanged for the Helium coin in the future?

Great question.

The August 1st snapshot date is simply to collect the information for the coin redemption, which will happen soon after the Helium network launches in early September. Once we launch, the circulating supply as per the Speadcoin August 1st snapshot will be fast mined (perhaps in the genesis block) and then we can look at starting the redemption process.

I will be providing updates on this all at the next AMA I will be holding in the Helium slack. Details to follow.

Bimmerhead, if I understand correctly it will be like that:

-->Aug 1st - snapshot means that everybody with a non-zero SPR address at the time of the chosen SPR snapshot block will be ELIGIBLE for the same amount in HLM.
(notice there is NO Helium yet!!!)

-->Aug 1st to Sep (early) - everybody with a non-zero SPR address at the time of the chosen SPR snapshot block can now CLAIM his Helium monies.
(by CLAIMING - I mean for you, and everybody else will be reserved in some way HLM amount equal to their SPR at the the snapshot block)

-->Sep (early) - HLM genesis block will have all the claimed SPR coins as HLM coins and they will be redeemed in one way or another by their "owners".

The way the latter will be done is yet to be decided (or it already has been?!) by Coins.
1. Hardcoded in the genesis block. I have no idea how everybody will be getting their HLM privkey though, so hopefully their HLM funds are encrypted with SPR public and providing SPR private will "unlock them".
That will be the best way - automatic and no additional SPR holders input needed.
2. Using escrows - the pros are that only people that claim their funds will get them and the cons are that only people that claim their funds will get them.
Seriously - that will be a lot of work for Coins101 and KarmaShark, but then only people that are interested and following SPR and HLM will get these HLM funds from thin air. It will be very insulting to people with hundreds of thousands or even millions SPR (maybe there are some) when they figure out some time in November they missed to claim their dough...

I personally WILL claim my coins either way, and I can see how both ways are fair - If you are invested in SPR you will be following what is going on with it and HLM, so you get rewarded with HLM.
If you have completely turned back to SPR and not keeping up with it - don't deserve a bonus. On the other hand - if I had some SPR and I am on a trip/vacation, in a hospital or school or whatever and I miss that month to month and half period it will suck!

Oh and all that are my opinions and understanding, I am not involved with HLM team whatsoever.