Post
Topic
Board Announcements (Altcoins)
Re: [ANN] SilkCoin | New Wallet | - HARD FORK MANDATORY UPDATE - | POW in 2 days
by
MickeNorsk
on 08/06/2014, 15:47:51 UTC
One question for the dev though.
I was here on launch day, and it said it would be two POW stages, each giving approx 50 mil coins.
Due to the mixed POS/POW phase from start, it resulted in about 30 mil coins first stage instead right?

And as I see now, the second stage will give half reward instead, so making the grand total of coins about 45-46mil at the end of the second POW/POS stage right?


My main question and point is. The premine was accounted for that it would be total 100mil coins, but now that's not true anymore and the % is actually higher than it states correct?
Follow-up question: How much remains of the premine, and will the result of the higher % in total mean that you'll give out more in bounties than you first decided?

Thanks. /M

Yes the percentage is now higher than it states & 400k have been distributed on the premine already; We're trying as much as possible to make the premine last for a long time so we pay a lot in bitcoins or $ instead of using the premine (occulus rift & co) and of course never sell any silkcoin on exchanges. The premine is here to fund Silkcoin for a long time, the inside team (me and the devs) are not allowed to touch it, but on the other hand we may give out bounties also to the marketers (as I told you earlier we're all working together on a task management software).

Regarding bounties most of the time it depends on the work done and price of silkcoin because each work is very different but we try to give out a bounty to every single person who helps SC Wink, there's a LOT of ways to help and I think most people can testify the bounty they got was pretty decent. A big part is distributed via giveaways also (Mintpal giveaway is the biggest in date, and not finished yet) and there's a lot more to come.

The point of this premine is to support Silkcoin on the long run. And we'll try to make an allocation list soon (everything is labeled in the premine wallet) but we didn't take the time for that yet since we don't consider this as primordial since an allocation list doesn't prove anything (its very easy to cheat), on the other hand constant distribution and non-stop work will prove our dedication.

And to answer the last question yes there will be a multipool, we're currently working on that Smiley.

Thank you for the quick answer.
I'll throw in a feedback, I'm impressed by the new looks of the wallet. Great job! Just downloaded it today.
I wish this coin the best of luck. I've already tripled my investment in this, I'll hold the rest for a long time!