Re: [ANN] 0NE project - just 1 coin [21 June 2014 6.47a.m. PST] + WHO WE ARE
The only thing I really have to say is that the 0ne Engine portion of the project is 100% unneeded... there is no need for you to build a huge ass farm to mine this coin so that transactions continue. Especially with zero fees enforced... what is the point then? You could run the entire network off one ASIC because no one else will mine blocks that return nothing. That costs $100 PERIOD.
To take it one further... you wouldn't even need to have ANYONE mining this directly if you just followed the steps to make this scrypt coin merge mined with LTC... you could easily pay a small pool to add support for merge mining this coin off LTC hashrates and it would run on its own without your 0ne Engine.
I think your team failed to reason out everything involved with your plan... after 30 days... what profits will there be to pay out to the IPO purchasers without transaction fees... there will be no earnings from 0ne Engine except what it can mine before August 20th. So you get the IPO funds and buy ASICs... how long before they are all online? What is the point of keeping them all mining the blocks to keep transactions moving after day 30?
This just makes zero sense whatsoever.
To take it one further... you wouldn't even need to have ANYONE mining this directly if you just followed the steps to make this scrypt coin merge mined with LTC... you could easily pay a small pool to add support for merge mining this coin off LTC hashrates and it would run on its own without your 0ne Engine.
I think your team failed to reason out everything involved with your plan... after 30 days... what profits will there be to pay out to the IPO purchasers without transaction fees... there will be no earnings from 0ne Engine except what it can mine before August 20th. So you get the IPO funds and buy ASICs... how long before they are all online? What is the point of keeping them all mining the blocks to keep transactions moving after day 30?
This just makes zero sense whatsoever.
Thank you for your intervention .
0NE Engine is not needed or intended to mine 0NE or to keep 0NE network alive. More or less we are following the same concept of Multipool but implementing capitalizations.
0NE Engine will mine Bitcoin, Litecoin and any other cryptos will be profitable and avilable to mine and its earning will be used for supporting 0NE price on markets, pay IPO earnings , Engine mantainance and development.
I'm sorry but maybe I did not explained myself well before : when i wrote "we will setup proper hw to keep network alive, i was not referring to 0NE Engine.
you could easily pay a small pool to add support for merge mining this coin off LTC hashrates and it would run on its own without your 0ne Engine.
This could be a good idea.
After this little exposition, it is easily to understand that Profits for IPO investors will be generated by Engine earnings and (we hope) by growth in the value of 0NE
Welcome and thank you for your support. If you like mid-long term project you will not be disappointed.
This is really appreciated, thank you and welcome.
Best Regards
join 0NE , just 0NE