Re: [ANN][CFC]Coffeecoin 丨POS+POW 丨NO IPO丨1000+ member丨MultiPool丨
Concerning the wallet update...
I had a nice, long conversation with Orangecoindev, and CFC's source code is a lot worse than we initially thought. So bad, in fact, that we will have to re-release CFC and do a 1:1 swap. Our source is based on out-of-date code, and allowed incorrect genesis block data to pass through (PM me if you want exact details). Whether through a Ybcoin fork with CFC specs, or old CFC source with patches, the new updates cannot be applied. I'm getting us prepared for a 1:1 swap by asking around our listed exchanges. Basically, we need one of them to host a CFCv1/CFCv2 trading pair, preferably with 0% fee. While I don't entirely agree with our former dev's distribution method, what's done is done, and I will not allow anyone to lose their holdings!
Timeline for fix is 1 week for development, 1 week for testing. We can use this time to work out our new specifications; I need to get them over to OCdev by tomorrow. Here's what we're currently have, with my proposed changes in bold:
Interest: The first year of annual interest 10%. Interest will decrease by .95*previous year's interest, until a floor of 1% is reached.
Algorithm: Scrypt POS+POW Remove POW
Block Time: 20 seconds
Total Coin: 100,000,000 CFC
Mined Block Confirmation: 40
Transaction Confirmation: 3
POW Reward: 0.0001 CFC Zero, once POW is removed
Min stake age: 3 days Reduce to 24 hours
Max stake age: 9 days Increase to 90 days
Add Coin Control
Add "Unlock Wallet" button for ease of staking an encrypted wallet
Add daemon with release by default
Port: 16789
Rpc port: 16889
Please take part in the poll to decide the future specs of our coin!
I had a nice, long conversation with Orangecoindev, and CFC's source code is a lot worse than we initially thought. So bad, in fact, that we will have to re-release CFC and do a 1:1 swap. Our source is based on out-of-date code, and allowed incorrect genesis block data to pass through (PM me if you want exact details). Whether through a Ybcoin fork with CFC specs, or old CFC source with patches, the new updates cannot be applied. I'm getting us prepared for a 1:1 swap by asking around our listed exchanges. Basically, we need one of them to host a CFCv1/CFCv2 trading pair, preferably with 0% fee. While I don't entirely agree with our former dev's distribution method, what's done is done, and I will not allow anyone to lose their holdings!
Timeline for fix is 1 week for development, 1 week for testing. We can use this time to work out our new specifications; I need to get them over to OCdev by tomorrow. Here's what we're currently have, with my proposed changes in bold:
Interest: The first year of annual interest 10%. Interest will decrease by .95*previous year's interest, until a floor of 1% is reached.
Algorithm: Scrypt POS+POW Remove POW
Block Time: 20 seconds
Total Coin: 100,000,000 CFC
Mined Block Confirmation: 40
Transaction Confirmation: 3
POW Reward: 0.0001 CFC Zero, once POW is removed
Min stake age: 3 days Reduce to 24 hours
Max stake age: 9 days Increase to 90 days
Add Coin Control
Add "Unlock Wallet" button for ease of staking an encrypted wallet
Add daemon with release by default
Port: 16789
Rpc port: 16889
Please take part in the poll to decide the future specs of our coin!
I believe you also need to consider that not all coins will be exchanged, so my proposition is that you give around 7 days to people to exchange their coins and once that is done, all remaining coins are distributed via a new giveaway.
I've taken that into consideration, and will have another, longer-running poll to decide the fate of the remaining coins. As for how long I will keep the exchange period available is still up in the air. 7 days sounds like a nice number though, thank you
Well people might vote that the remaining coins are destroyed by sending them to an address with no private keys, however imho it's much better to use the opportunity and create some positive buzz around the new launch and do a giveaway to many people with small stakes.
I could always load up the faucet and turn up the payout. If we did a giveaway, it would have to be based on a trustless system and released in chucks that do not encourage dumping.