Quote from: CoinExpert on June 03, 2014, 04:09:48 PM

waldistons, it is all relative, total supply/block reward is around the same as most other coins.

I don't like POS, I like the idea of people earning money from mining. UltimateBank will offer similar function to POS by paying interest on deposits from it's capital reserves.

After the block rewards are finished (on the old coin), there will be 1.5798 Billion(B) ULT out there, 0.5798B is what miners have so far mined, 0.9 billion was allocated to UltimateBank of which there still is 0.859B & 0.1B was my seigniorage.

I don't want to do a pre mine of 1.58B, I would like to keep it under 1B so it will involve everyone taking a cut including the Bank & my seigniorage, it will be fair. I have the responsibility to make sure the coin is not over issued and work to increase it's value.

I will keep you updated of course.

I have talked to the largest holder of ULT and he agrees with me that a swap of 1:1 to the new coin would not be in the best interests of the coin.

consider the new coin,, i suggest better keep the total supply in millions,, 100M at most !dont over it ! it's not last year when billion coins were popular.
billion coins are doomed now,, they are easy to mine and they are easy to dump, therefore low value.
recently, 10-20M coins are very well accepted by investors. and they are usually value above 1k satoshi,, easy to catch investors .
the swap can do accordingly to the scale.

abt mining phase, i suggest 7-14 days. early birds get the worm, it's not fairy tale in reality world. and u cant achieve fairness never, coz there's always
unfairness in some people's eyes. therefore, no need to try to.

ULTBANK is a good concept to replace POS stage. people who saves coins in the web wallet ( bank accounts ) can got interests paid.
but the payout function must work perfectly, otherwise people concern.
also, if there's a bank, there should be loan, we can further explore the functions of the bank.

another BIG idea, which i offered to other coder, but never successed. i like to offer to u also.

can we make a coin without decimals. the smallest unit of the coin is 1 ULT. not any figure after point,, no need 0.XXXXXXXX.

a coin is A coin,, is 0.1, 0.1234, 0.03003839 a coin ?!

all crypto worlds is fucked by the 8 figures after the decimal... it's exhausted and less fun at all.

if we can make ULT a coin without decimal,, we are really ULTIMATE and UNIQUE !

---------by ivan originally