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Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
where is catman?
why dont he explain all what happened?
I wish catman limit CENT supply. it will be key to CENT future!
why dont he explain all what happened?
I wish catman limit CENT supply. it will be key to CENT future!
Seriously, if we start removing coins from the total supply, Pennies will be ridiculously valuable when people realize what not having satoshis means.
Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
Then again.. I know not everyone will think that logically about it, though...
Think logically? Someone please think logically about how many tradable units of Bitcoin there is, and how many tradable units of Pennies there is.
Then that same person explain to me why Pennies is so incredibly undervalued.
Why does nobody understand that Pennies are not in large supply? Everyone knows that one of Pennies selling points is that there are no decimals, but everyone seems to forget that when they see the total coin supply.
A Bitcoin's smallest value is a satoshi, or one millionth of a Bitcoin.
The coin cap for Bitcoin is 21,000,000.
So the total number of tradeable Bitcoin units is 21 quadtrillion satoshis.
A Pennies smallest value is itself. Cents are indivisible and can only be traded in whole values.
The current number of existing pennies is right above 41 trillion (41,835,649,197,243).
If you considered every penny a satoshi (as it technically is) then we can see a "whole value" of Pennies when we multiply total supply by a millionth of one.
41,835,649,197,243 pennies/satoshis multiplied by .00000001 is 418,356 (Super Pennies? Bills? Whatever we want to call it).
21,000,000 Bitcoins > 418,356 Super Pennies/Bills/Whatever we call them.
For reference, 42coin was above Bitcoin's price on Cryptsy the other day, and its total number of divisible units is 4,200,000,000.
The only reason Pennies doesn't have a high value is because most people don't understand this concept.
Once the public realizes this, Pennies should grow rather rapidly and to high value.
Bitcoin = 2,100,000,000,000,000 units
Pennies = 41,835,649,197,243 units
42Coin = 4,200,000,000 units
A Bitcoin's smallest value is a satoshi, or one millionth of a Bitcoin.
The coin cap for Bitcoin is 21,000,000.
So the total number of tradeable Bitcoin units is 21 quadtrillion satoshis.
A Pennies smallest value is itself. Cents are indivisible and can only be traded in whole values.
The current number of existing pennies is right above 41 trillion (41,835,649,197,243).
If you considered every penny a satoshi (as it technically is) then we can see a "whole value" of Pennies when we multiply total supply by a millionth of one.
41,835,649,197,243 pennies/satoshis multiplied by .00000001 is 418,356 (Super Pennies? Bills? Whatever we want to call it).
21,000,000 Bitcoins > 418,356 Super Pennies/Bills/Whatever we call them.
For reference, 42coin was above Bitcoin's price on Cryptsy the other day, and its total number of divisible units is 4,200,000,000.
The only reason Pennies doesn't have a high value is because most people don't understand this concept.
Once the public realizes this, Pennies should grow rather rapidly and to high value.
Bitcoin = 2,100,000,000,000,000 units
Pennies = 41,835,649,197,243 units
42Coin = 4,200,000,000 units
How do we convince people of this? I'm not fully sure of it myself. Make posts saying there are 'this' many bills and 'this' many pennies?
Well the first step is to spread awareness. My entire time here I have yet to ever see another Pennies advocate use this in debate about the coin supply. So I feel like most everyone, even Penny pros, do not realize this. Word of mouth is a powerful thing.
Why does nobody understand that Pennies are not in large supply? Everyone knows that one of Pennies selling points is that there are no decimals, but everyone seems to forget that when they see the total coin supply.
A Bitcoin's smallest value is a satoshi, or one millionth of a Bitcoin.
The coin cap for Bitcoin is 21,000,000.
So the total number of tradeable Bitcoin units is 21 quadtrillion satoshis.
A Pennies smallest value is itself. Cents are indivisible and can only be traded in whole values.
The current number of existing pennies is right above 41 trillion (41,835,649,197,243).
If you considered every penny a satoshi (as it technically is) then we can see a "whole value" of Pennies when we multiply total supply by a millionth of one.
41,835,649,197,243 pennies/satoshis multiplied by .00000001 is 418,356 (Super Pennies? Bills? Whatever we want to call it).
21,000,000 Bitcoins > 418,356 Super Pennies/Bills/Whatever we call them.
For reference, 42coin was above Bitcoin's price on Cryptsy the other day, and its total number of divisible units is 4,200,000,000.
The only reason Pennies doesn't have a high value is because most people don't understand this concept.
Once the public realizes this, Pennies should grow rather rapidly and to high value.
Bitcoin = 2,100,000,000,000,000 units
Pennies = 41,835,649,197,243 units
42Coin = 4,200,000,000 units
A Bitcoin's smallest value is a satoshi, or one millionth of a Bitcoin.
The coin cap for Bitcoin is 21,000,000.
So the total number of tradeable Bitcoin units is 21 quadtrillion satoshis.
A Pennies smallest value is itself. Cents are indivisible and can only be traded in whole values.
The current number of existing pennies is right above 41 trillion (41,835,649,197,243).
If you considered every penny a satoshi (as it technically is) then we can see a "whole value" of Pennies when we multiply total supply by a millionth of one.
41,835,649,197,243 pennies/satoshis multiplied by .00000001 is 418,356 (Super Pennies? Bills? Whatever we want to call it).
21,000,000 Bitcoins > 418,356 Super Pennies/Bills/Whatever we call them.
For reference, 42coin was above Bitcoin's price on Cryptsy the other day, and its total number of divisible units is 4,200,000,000.
The only reason Pennies doesn't have a high value is because most people don't understand this concept.
Once the public realizes this, Pennies should grow rather rapidly and to high value.
Bitcoin = 2,100,000,000,000,000 units
Pennies = 41,835,649,197,243 units
42Coin = 4,200,000,000 units
Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
Heres another idea for promotion. Theres a saying that "a penny saved is a penny earned". I heard this all the time when I was growing up. Simply promote CENT as a good savings tool for children. Persuade parents to save money now for their children with CENTS.
This is a good idea. A school teacher friend of ours thought about using them in her classroom.
I'm not certain about the educational aspects due to the slogan in the logo, "AD DIVITEM INTRARE SPOLIA".
Perhaps, "IN NUMBERS WE TRUST" would be better than "TO ENTER THE SPOILS". It may be hard for kids to become enthusiastic about saving with a slogan like that.
But isn't a savings account all about increasing your spoils anyway? haha
Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
From the looks of it, the money supply fell short of 40 trillion, much lower than the estimated 60-70 trillion that people kept spouting out.
Just in defense of the weak US dollar aspect, people really should be looking into the bond market. With QE3, the Federal Reserve has fleeced many people who don't understand how treasury bonds work. They're a reason other governments are only holdings short-term bonds these day. Since the power of the US dollar is so closely related to the bonds market and interest rates, it's a recipe for disaster considering the egregious amount of national debt looming on our shoulders.
It would be worth everyone's time to do a google search on some terms such as "EQ3", "Bonds Market Collapse", "Treasury Bond Interest Rates 2013", "US Debt Default Consequences", and "February 2014 Shutdown".
These are all very real things and give very sound reasons why to have money in Bitcoin right now.
It would be worth everyone's time to do a google search on some terms such as "EQ3", "Bonds Market Collapse", "Treasury Bond Interest Rates 2013", "US Debt Default Consequences", and "February 2014 Shutdown".
These are all very real things and give very sound reasons why to have money in Bitcoin right now.
Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
Just for clarity sake:
I have updated the client wallet to the latest update and I have 'x' CENTs in the wallet.
1) What should I do next to ensure I do not lose any CENTs?
2) If I do nothing except just open the wallet every few days to update the blocks and sync, will I lose any CENTs? If so how does the ratio to 'x' CENTs in wallet v/s 'the loss' actually work?
3) I still have my Cryptsy account and can use that if necessary to move the CENTs around if it means not losing any CENTs.
Can anyone kindly please give a simple reply as to what is going to happen and how it will affect us? I have read the previous pages of the forum but do not understand the implications of what will and will not happen.
Thank you
I have updated the client wallet to the latest update and I have 'x' CENTs in the wallet.
1) What should I do next to ensure I do not lose any CENTs?
2) If I do nothing except just open the wallet every few days to update the blocks and sync, will I lose any CENTs? If so how does the ratio to 'x' CENTs in wallet v/s 'the loss' actually work?
3) I still have my Cryptsy account and can use that if necessary to move the CENTs around if it means not losing any CENTs.
Can anyone kindly please give a simple reply as to what is going to happen and how it will affect us? I have read the previous pages of the forum but do not understand the implications of what will and will not happen.
Thank you
In short: You will not lose any coins at all.
They are perfectly safe to sit in your wallet. The only thing reducing is the POS rate, which is similar to the concept of reducing block rewards when mining.
The coins I lost were my own stupidity I'm sure, and not a reflection of the program. haha
Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
My point is, there are too many in existence. The whole idea of indivisibility was novel, but it only exacerbates the problem, divisibility should be retuned at the same time that stake is removed to ensure this coin lives and people's investment of time , funds and costs does not go down the drain.
Trying to stick to the idea of having trillions that are continuing to stake is absurd, even with the stake reduction if i have a trillion, i will stake 10 Billion, as a result the mony supply will still grow very fast.
but if we divide by ten billion then a trillion becomes a hundred coins, which grow by 1 coin a week, which is far more manageable growth. in a month even with the stake fix, we may very well reach the point where the client is unable to display the balance.
So it would deal with inflation, absurd numbers, and stay well within transaction limits for A LONG TIME.
Just food for thought.
Trying to stick to the idea of having trillions that are continuing to stake is absurd, even with the stake reduction if i have a trillion, i will stake 10 Billion, as a result the mony supply will still grow very fast.
but if we divide by ten billion then a trillion becomes a hundred coins, which grow by 1 coin a week, which is far more manageable growth. in a month even with the stake fix, we may very well reach the point where the client is unable to display the balance.
So it would deal with inflation, absurd numbers, and stay well within transaction limits for A LONG TIME.
Just food for thought.
Your grasp of simple mathematics is terrible, if everything is divided by a it wouldn't make a damn difference in any value. sure, each coin would be worth times more, but it's the same relative value as they have now. The only real effect this would have is eliminating many peoples pennies. The only issue is MAX_TX, which as I've stated before, is easily remedied.
your grasp of the English language is terrible. it would make a damn difference if the total supply is divided because it would return the numbers to sane levels. also you keep overlooking the overall effect of PoS.....60 trillion it would still stake 60 Billion or more weekly with your reduction in stake.
Grasp this......THERE ARE TOO MANY PENNIES IN EXISTENCE, WE WOULD LIKE TO START REMEDYING THAT. I know you are not the original dev, but as a stand in, please do not take such an attitude to people's investment. I am nearly done cashing out, and i'll continue dumping unless a viable fix to the money supply is put in place.. saying you've reduced the stake by so much percentage is meaningless unless you plug in values and calculate based on that.
Perhaps it would be best if we focused on fixing the coin's image as opposed to playing with the details just yet. I understand what you're saying, but this coin as is with POS still has lot of potential, and the thing that is going to kill it is the community unless they attempt to restore faith in it. Seriously, just deleting coins isn't going to fix anything in the long term if nobody is willing to trade in it. Hell, I accidentally lost 500m coins last night. Assuming 1m people are staking 100,000 coins every 9 days, that will cover the new POS system for around 49 days. Why not use those 49 days to show people CENTS is still a viable trading system and stimulate the market? Then you can go from there and start brainstorming how you want to fix the total supply.
Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
Quote
By the 1-8-2014 there will be somewhere in the region of 60 trillion CENT minted. At the 0.00000001 trade price on Cryptsy that gives it a market cap of around $15-20 million, each CENT worth around $0.00000003
That's still shy of the total world's money supply.
http://youtu.be/w2tKg3E53DM
Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
For proof of stake to work on the qt cent client is there anything special you need to do or just leave it running?
As I understand it, it has to have the updated blockchain and be running by the stake date.
If you leave it running you help the network, and don't have to worry about your stake.
Do you need to have your client constantly "on" to receive the state?
Or could you set up yourself to receive stakes,not use the client for several months,and then return to find you have loads of stakes?
The client must be open and synced in order for the PoS blocks to attempt generation...
you can leave the client closed and then open and sync it just before your coindate reaches maturity for stake, and then it will be eligible to do so... but leaving it offline will NEVER generate stake ever. The point of stake is to solidify the network from 51% attacks by keeping wallets online and synced constantly even if you aren't solo mining.
Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
Alright, bigger problem. Anybody have pointers on how to fix this?
http://i.imgur.com/XAfGZjP.png?1
Unsure why, but my transaction was rejected. Then when I started the client again I received this before finding 1.5 billion coins missing from the address I was holding them in. The address is there, the cents gone.
http://i.imgur.com/XAfGZjP.png?1
Unsure why, but my transaction was rejected. Then when I started the client again I received this before finding 1.5 billion coins missing from the address I was holding them in. The address is there, the cents gone.
Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
Yes, when you transfer coins between addresses in the same wallet it will display a change of 0 in your ledger/tx history. This is because as far as the wallet is concerned, your balance hasn't changed.
You can see how many coins are in each address by enabling coincontrol.
Oh, okay. I see now.You can see how many coins are in each address by enabling coincontrol.
So should I, in theory, send each batch of these to a different address each time, or is it acceptable to send each individual 50 million transaction to the same, secondary address?
I read earlier something about program limitations and sending them a certain way, but that make have just referred to the TX limit of 1,000,000,000.
(Sorry to bombard you with questions)
Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
One more thing, and I just want to clarify because I'm very new to POS coins. I can, in fact, send coins to the same wallet via a different address from that wallet, and it will reset the coin age for POS? I only ask because I received confirmations on all of the tx of 50,000,000 pennies I sent; however, in my wallet they show up under my register as the amount of 0.
Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
To many stakes in the system is making it take awhile to load. It will load up if you just leave it for 10-20 minutes, your rebooting is just going to corrupt your data.
Thank you sir. It finally just loaded.
Re: [ANN] RazorLove Cryptocurrency Services - DBL, CENT, & FOO/BAR Updates
Hey guys, so, Pennybank is kind of unreliable to load for me. Every time I try to boot the qt client, sometimes it will load, and sometimes it just brings up the loading page, and gets stuck. I typically have to reload my computer once or twice to get it to work. Anyone know why this is happening?
Hey all! JohnathanCity here. Gotten into altcoins lately, and I was needed some help as my CENT wallet won't finish syncing, but I'm penned in the noob section for the moment. haha
I had been shadowing a thread for awhile, but I can't find any answers. It's stopped syncing at 5311 blocks. Anybody have a clue why?
Plus, on top of that, the client simply quit loading and won't boot now. :/
I had been shadowing a thread for awhile, but I can't find any answers. It's stopped syncing at 5311 blocks. Anybody have a clue why?
Plus, on top of that, the client simply quit loading and won't boot now. :/