Synth and other core devs of the project may have custody of undistributed Skycoins, though they do not own them. It is not legal in any country to embezzle funds owned by the Skycoin foundation to use for personal gains. These laws are enforceable.

Skycoin uses a novel distribution scheme that i will explain below, and direct you to a fine article that presents another perspective on the matter.

Conventional cryptocurrency distribution will involve ICOs, airdrops, or block rewards. ICOs and airdrops tend to occur over a very short time period and participation ends up being very exclusive. On the other hand, Block rewards are paid out to those who participate in a given consensus algorithm. The behavior of consensus node operators becomes focused around receiving the block reward. This leads to fierce competition, raising the barrier to entry, and/or the formation of mining pools, which act as cartels. These conventional distribution systems have demonstrated a tendency to contribute to the centralization of coin supply, destructive exploitation of policy (ex. spamming transactions to inflate fees.), and development-inhibiting influence over the consensus algorithm.      


Unfortunately there is no way to ensure that markets do not end up in a mess. The whales already exist and they will exert their influence on all markets they can. The only way to inhibit the whales is to establish a strong intrinsic value for a coin through application of the coin within a thriving ecosystem, while at the same time making it impossible for whales to buy up enough coins to control the market over the long run. You cannot depend on the general public to have strong hands in the short term. They will be spooked by every FUD, obediently transferring their wealth to the hungry whales at the drop of a hat.

Skycoin is limiting the number of coins that can be obtained via distribution by locking up the undistributed coins and slowly releasing them over a matter of decades. All undistributed coins are owned by the Skycoin foundation. A foundation is a type of organization, a legal entity, where unlike a corporation, there are no shareholders. The foundation owns itself. The current supply of Skycoin includes 9 million in circulation, and 16 million undistributed. 75 million Skycoin are not yet available for distribution, and will only be released under strict conditions and at a dramatically slowing pace as a percentage of circulating coins.

The distribution plan boils down to:
1. No additional Skycoins become available until the initial 25 million have gone into circulation.
2. No additional Skycoins become available until all undistributed coins have gone into circulation.
3. After the first 25 million, 5 million coins at a time are unlocked and made available for distribution.
4. Batches of 5 million Skycoins can be unlocked and made available at a rate of no more than once per year.

Here is an excellent article by Christian Ott, with infographics and annotations, explaining the history of Skycoin distribution, how it will work in the future, and expressing his concerns . It should be noted that the current automated OTC teller is provided by CryptoWolf, and is OTC passthrough, meaning that only coins already on the market are made available. As of now, no further OTC distribution of Skycoin is planned for the future.  Also, the amount of Skycoin subsidizing Skywire infrastructure and used in coinhour buyback will need to be sufficient to support growth of the infrastructure, it will be adjusted over time to ensure this. Skywire is not the only Skycoin incentivized application that is being developed, and it can be expected that much of the distribution going forward will be supporting not only Skywire, but other projects as well.
https://christianott.co/skycoin_distribution_en/

Proof of work may not be perfect, but it is simple and due to the incredible hashpower at play, the POW consensus algorithm of Bitcoin provides the highest security of any such system in the world.

The purpose of Bitcoin using alot of energy is to make it hard to defraud the network. The value of Bitcoin is the measurement of the benefit it provides to civilization and is quantified by the security of the distributed ledger. Therefore, Bitcoin must always use a very large amount of energy regardless of advancements in efficiency.

The challenge to increase efficiency of Bitcoin energy consumption is not to reduce consumption and destroy hashpower, but to harness the security of the immutable data within its blockchain to the fullest extent.

This is in large part achieved by increasing adoption and ownership of Bitcoin. The more people that benefit from it, the more efficient the expenditure of energy. This takes effect doubly, due to the lowered relevance of the legacy fiat money system and its byzantine mechanisms that exact their heavy toll in blood and misery.

But Bitcoin the currency is not all that the blockchain can accomodate. Bitcoin can provide a global registrar of the highest authority to authenticate any type of data for any purpose while receiving payment in BTC, distributed among miners and reducing transaction fees.

Registration can range from affordable to expensive, and is graded depending on the size of the payment made to the network. The data being registered, along with the weight value of the registration are hashed into a cryptographically derived checksum which is recorded onto the blockchain.

Like with general adoption and usage, the increased exploitation of this resource that already exists within Bitcoin makes more efficient use of energy being spent to secure the blockchain, and saves real energy currently being wasted away in the inpenetrable depths of the hideous malignant bureaucratic tumors that have left society bedridden.

Bitcoin does not consume too much energy.

It consumes enough energy. Bitcoin must always consume as much energy as possible. even though technology makes energy cheaper and computation more efficient, blocks must always be as difficult as possible to generate.

If difficulty becomes low it becomes too easy to attack the network with fraudulent blocks.

its possible that only one proof of work consensus algorithm in the world should be operational.

Looks like we got an update on his royal highness



Source:

https://www.c[Suspicious link removed]m/2017/11/04/billionaire-saudi-prince-alwaleed-bin-talal-arrested-in-corruption-crackdown-local-reports.html

Suspicious link:
cnbc official website, got a point there

Source:
https://en.wikipedia.org/wiki/Cnbc

Yes you are correct. 6000 COSS for 1 ETH. depending on when you joined the ICO there was also a percentage bonus though.

As such the price of COSS token is still above ICO price.


COSS CEO announcement from yesterday

http://mailchi.mp/c5c5195b42e2/crypto-one-stop-solution-platform-coss-company-updates-regulations-technical-adjustments-ui-comment-from-ceo-tim-grant-dao-exchange-security-measures

Yes, you are completely right on both points.

Im not a member of the COSS team, i just hold a modest amount of COSS tokens and i feel good about it too.

 Security is the number one most important thing for coss to succeed. While they have revealed some details on their whitepaper, It is a fact that more explicit details would only have a negative impact on real world security. At this moment COSS is not the juiciest target out there for such attack and by the time they are rocking 100 million plus in revenue i hope they will have invested hardening their defense to the point of overkill.

Compliance with current and future regulation is the second most important thing. The team composition, tone and content of their announcements, and the layman observations i have been able to make indicate to me they understand this. Their jurisdiction is in singapore where the state of fintech legislation appears to be forward thinking. And in anticipation of the influential United States SEC regulations, business logic related to revenue sharing has been isolated onto the DAO, a decentralized separate entity that exists on the ethereum network. This places the system out of COSS' immediate control and into a regulatory category shared with other decentralized autonomous policy enforcing entities such as the Bitcoin protocol.


Thank you  qiwoman2. It is a time when all altcoins are suffering and we do our best to keep negative emotions from spreading in our communities.
In time the wise investors will see through the hype and the fud and find the projects like COSS that were built to last.

Yes do that indeed, Japan has not become famous enough from Mt. Gox.

If other exchanges are stealing the show they are doing it with marketing and UX.

Coss already has the uniqueness quality. Its token is cheaper than the others, and it has better legal compliance, and they offer a point of sale service as well.

Its just that people out to make a quick buck also dont have time to do research so they are susceptible to being attracted to marketing and UX.
Money really ought to talk and it will in the long run. Coss has a long way to go before the tokens become more expensive than competitors.

Kucoins plan is to grant 50% of exchange fees to the coin holders for the first 6 months. After that point it is their goal to reduce this percentage until 15%. but they have referral system that grants additional fees. its a very aggressive front loaded strategy, but they are just an exchange.

Coss is pretty different. the 50% fees policy is not subject to change, and the coss holders are rewarded for fees on additional coss projects like the point of sale service.
Coss tokens are alot less expensive than Kucoin and holders dont have to dick around with building up a referral pyramid either.

While Coss uses an erc20 dao for revenue distribution logic Kucoin has their own blockchain but does it have miners?  masternodes? is there even a consensus algorithm? It seems a bit reckless to be running the code on their own servers instead of a decentralized entity considering the current regulatory environment.

Kucoin webpage currently not accessible. i cant download the whitepaper.

Anyway just cause kucoin got alot of money on their ico and is moving really fast on their plans doesnt have a whole lot to do with unique concepts. A cryptocurrency forms an incentivized ecosystem that allows some form of decentralized human organized behavior to emerge. Coss concept is effective and manages to be a good bit less annoying than that of Kucoin.


Coss ICO price was indeed about $0.05 provided $300 ETH. Kucoin was a good 6x as much if im not mistaken.



ok threw me off that coinmarketcap lists them as  a coin. Kucoin is an erc20 token.
https://etherscan.io/address/0x039b5649a59967e3e936d7471f9c3700100ee1ab
but still cant access https://www.kucoin.com/ nor whitepaper.

Make sure that you check your confirmation email for making a withdrawal

Bitcoin is hackable. so is every other system relevant to cybersecurity.

Bitcoin is not as hackable as others bcause of it decentralization. where if any target on the bitcoin network is hacked the damage that can be caused will be limited. decentralization provides compartmentalization of risk.

we have seen many attacks on bitcoin but these are all social engineering and political attacks. and attacks on centralized organizations that use bitcoin but operate outside of the network.

Cyber warfare is one of many strong incentives to transition from traditional organization into a world of decentralized ecosystems made possible by cryptocurrency.

https://www.youtube.com/watch?v=lbpCLoXPiC4

At any given time i dont care about evaluating the mining, transaction fee, transaction speed/confirmations between Bitcoin and Bitcoincash
The many negative attributes of bitcoincash allow me to prejudge it negatively before considering any of your cherry picked criteria.

Bitcoincash needs to go through a hard fork anyway to remove the emergency difficulty adjustment that is causing inflationary spikes.

BCH is going up because massive amounts of korean won are being exchanged for it.
https://coinmarketcap.com/currencies/bitcoin-cash/#markets

This is the same as every huge BCH pump we have seen. Lots of Korean money being lost.

Maybe its something like korean pump and dumpers taking advantage of vulnerable investors through social media.

In the context of bitcoin and cryptocurrency.

Fork has 2 main meanings.

First meaning is relating to code development and is shared with all software projects.

The code base of bitcoin can be forked to form the basis for the development of a new project. This has happened many times.

Second meaning specifically concerns blockchain based cryptocurrencies.

The blockchain is a data structure where each block is linked together with a cryptographic hashing function that allows the younger block to inherit a digital fingerprint of the data in its parent block.
The fork occurs at the tip of the blockchain where there are 2 child blocks that are created simultaneously, subsequently propagated throughout the network, creating a conflict of consensus.
Part of the network will then have a different copy of the blockchain than the other, and the network will continue creating new blocks until the chain with the most blocks is finally accepted by the entire network.

Such is the case with any fork that occurs where there isnt an intent to change the underlying policy of the network.

The other type of blockchain fork is the policy changin type of fork.

In a soft fork like segwit bip141 there is a policy change but the forked blockchain continues to run in parallel because it is backwards compatible. participants are free to move their bitcoins back and forth between segwit enabled and legacy addresses.

In the hard fork as with bitcoincash, There is a policy change that does not permit backwards compatibility. The tail of the blockchain is cloned so that participants of the original network will have an equivalent balance on the cloned chain. each version of the blockchain then eliminates their respective policy violating fork and continues to build itself as 2 separate blockchains.

Thank you for adding XNN tokens via airdrop.

I think that i will be participating in the airdrop for BTC registration in November.

In order to prove BTC ownership I assume it is necessary to make a microtransaction to the team to expose xpub?

Anyhow it is an interesting thing that is happening in regards to EOS. I can understand that the EOS investors would not be very happy to see this project operate, but on the other hand this is just a natural process of experiments and competition.

I hope that this results in benefits enjoyed by the Ethereum community and not in a trend toward less transparency in ICO projects.



BTC airdrop recipients will need to associate an ether address with their participation. it wont be automatic like the Ether one.

I appreciate having been included to receive 0.5 JOT

Will be keeping an eye on this project.

Yes the new rules are an improvement despite the wealth centralization concerns.
The change of having airdrop rewards proportionate to onion balance addresses the problem of multiple signups and dumping.
And it provides plenty of encouragement for the market value.

On the face of it though it does appear to be simply a matter of tradition to retain an arbitrary bitcointalk registration deadline requirement. Hasnt it  been rendered obsolete by the above change and imposes a modest negative impact on community growth?

Very impressive project though i probably should just invest in this because its a good buy.


It looks like you might have missed the bitcointalk registration deadline that has been recently adjusted to Oct. 1.
There is a possiblility that the deadline will be further adjusted in the future but it would not be healthy for us to count on it.

Cryptocurrencies in general will be so broad in their application that attempts to regulate them as a whole will be overly broad, and hurt the countries that attempt it.

More specific regulations will not be seen as effective or beneficial because those will simply single out and impose losses on investors in a specific project, leading to them being overtaken by competitors. They also might be countered by a hard fork.

Trying to regulate bitcoin specifically will just lead to hard forks because the policy on the protocol is not flexible to be tampered with by governments.

Governments will be creating fiat on private permissioned blockchains (main ones not sidechains) and trying to sell them to you as cryptocurrency. They may not be able to fool you and me but they will fool the vast majority of people. Their objective will be to capture as much of the global market share as they can and stop the flight of money into true cryptocurrency.

The best thing we can do is to teach people about the threat of cyber warfare and how diversity of cryptocurrency and decentralization provides far greater safety than any government can.

UX improvements this also includes exchange UI has been placed near the top priority,  UI, specifically, is also probably the simplest of challenges facing coss.

At the moment i believe that hiring more personnel is the top priority item. Its more challenging to hire good people but you better believe its important.

The ICO was very low hyped and did not raise as much investment as had been hoped. but we have seen all too many cases where a glut of investment did not lead to the most efficient business decisions despite plenty of funding. I think that a lean budget is a good thing. it gives the team a clear and powerful incentive to succeed.

If you want to ask questions or receive support from the coss team the best thing to do is join the slack channel.

try this link for coss slack channel
https://join.slack.com/t/cosstokenswap/shared_invite/enQtMjYwMDgyNDEwNTk3LTcxZWJiOTE0OTZhMjZlZmVhMzBlNWI2ZGNhNDg0NGJlNzdlOGI2Yjc3ZGI0ZWUwMjdlMGQyNTNhOGU4NmQ5Y2Y