you may have stated that when asked, etc.

but that was not stated in the specification

also, when the cap is reached, the blockchain does not need to stop - it can continue as long as there are nodes working, and those nodes can be incentivized via

(a) transaction fees or forging fees
(b) part of the fees from the trading/barter network can be donated to a pool from which mining rewards are paid

The irony is if the "value is in the network" then the network activity should be able to support this coin via fees; the purpose of a coin is not to be mined but to be used - mining is never to be an end in and of itself, but rather as a means to support use. If coin is not generating fees from USE then it should not be mined and should die.  If community truly was strong it would donate nodes to keep network alive after cap is reach (I know I would) It would be better to simply come up with another coin rather than change the specification w.r.t. maximum cap

simply changing the cap because a maximum amount reached is, to put it kindly, really very sloppy and ill-advised, and removes the meaning of a cap in the first place

I can no longer support this coin - I am selling out my stash

but I wish you the best

thanks for your reply

to clarify, when you say

{"mapping has been done to ensure we will have a total number of coins"}

do you mean that the five million maximum will NOT CHANGE? or are you saying that the max cap will change?

please explain what you mean

I suggest that the max cap NOT CHANGE - after a cap is reached, I think the mining (whether it is POW  or POS or POW/POS hybrid) should be sustained by transaction fees and other fees but never by changing the cap AFTER a specified maximum cap was stated.

It is OK to have an unlimited supply coin as long as that was the stated policy from the start

But if the initial policy was a maximum cap of a specific amount, then it should remain fixed at that exact specific amount - the software can change but the max cap should never change after it has been advertised - - - just think about the mess if bitcoin decided "now we change software and the maximum bitcoins to be issued is 100 million" that would destroy the very idea of value by fixed deterministic mathematically bounded supply...

A key value proposition to some of the most successful cryptos is the concept of a guaranteed limited supply (bitcoin - only 21 million will ever  be created; similarly hard caps for NXT XRP, LTC MAID, SCJX and others...)

I would VERY strongly urge reconsideration of going to a POS system if that means the hard cap of ONLY 5,000,000 (five million coins) is lifted; low inflation is NOT a consideration - I want precisely ZERO inflation with respect to a maximum number of units that will ever exist

Instead i would focus on imposing some sort of transaction fee minimum or some other method.

I am working on supporting a group of coins and for that purpose I am only interested in coins with a hard cap... the reason I got some BTA in the first place was due to the 5 million hard cap - that goes away, and so does my interest in the coin...

If you can come up with a way to do POS WHERE THE MAX COINS THAT CAN EVER EXIST AT ANY GIVEN POINT IN TIME REMAINS AT 5,000,000 then I am OK witht he concept of transitioning to POS

(just my two-cents for what its worth)

The UK actually appears to me to have some rather stiff false advertisement laws... legal action is the course I plan to pursue if by Friday morning there is no acceptable correction of this issue...

requiring them to appear in a court of law is no waste of time - that in itself is a worthwhile outcome even if no money is recovered - they must understand that they cannot operate this way without any consequence - - - some people will simply not put up with this...

>>> they should not make commitments they simply cannot meet

>>> if they say they will do XYZ by a specific date =======> then they should do XYZ by that specific date

>>> if they cannot pay dividends, then they simply SHOULD NOT DECLARE dividends

These are really very simple concepts and very basic principles...

If they declare dividends to be paid on a date and then they don't pay dividends as declared, then that is FRAUD

I am not afraid to say that word, because that is what it is: FRAUD!! FRAUD!! FRAUD!!!


They have until Friday until I take action - - - I will not be selling any shares at all, AND I will look into getting them to answer in a court of law and pursuing this to full extent of law, even if cost to me is more than ten times what i paid for the ambercoins - - - that is my right

can I get a count of how many people would be willing to contribute to a shareholder legal fund to start a legal inquiry for fraud?

Enough is Enough

#1: I am NOT selling any of my shares

#2: I am thinking that if by Friday we do not have promised results then we may be able to start a legal process...

I am thinking about using Fox Williams ( http://www.foxwilliams.com/news/905/ ) if anyone has another idea of who to use, then send me a private message...

Even if it costs us a few thousand dollars that should teach them a lesson about engaging in this type of fraud - - this is fraud, pure and simple and they should be held to account - some people need to be fired and/or go to jail for this type of fraud - - - at least putting them through the misery of a legal process should teach them a lesson.

Send me a private-message if interested in starting a full in-depth legal inquiry into these clowns

Also if people have the Registered Agent addresses in Ukraine and all other places they have operations, please send this information to me via private message as soon as possible - I want to make sure they do not get away with this, even if it costs more money than what I invested...

since the site is down:

I made a copy of the Q2 amounts pertaining to each qualified wallet:
https://docs.google.com/spreadsheets/d/10VQrqBlJONctZgvalY8WRFVT53o6zl8KlcFQNAuSW5g/edit?usp=sharing

please confirm for the record that this is correct info by reviewing and typing "CONFIRMED AUDEN'S COPY OF Q2 AMOUNTS"

that would be a record against the possibility of this "company" turning out to be a scam and their removal of DEV Q2 spreadsheet from their Google account so that it could not be used against them in a Court of Law

hopefully this is not the case, but it is a good precaution

HOW DOES POS WORK AFTER THE 50 MILLION COINS HAVE BEEN MINED?

SOMEONE PLEASE PROVIDE A DETAILED EXPLANATION - THANKS!

I would NOT support any solution that causes the maximum number of coins to exceed the agreed upon 70 million

When it comes to crypto-currencies, scarcity and the reliability of the protocol is sacrosanct - imagine what would happen if bitcoin group decided "hey lets make it 100 billion coins now" price would nosedive - the fact that only 21 million would exist EVER, is a key pillar supporting its value

70 million was the stated hard maximum - whatever we do, we should KEEP it at that

As a matter of principle, it is preferable to let the coin die (if it is not being used for any real trading for goods/services) than to simply go on an unbounded POS supply increase

POS would only be acceptable if the POS rewards do NOT come from generating any new coins past the 70 million issuance cap (some ideas on where such rewards may come from : transaction fees, demurrage fees, etc.)

perhaps the answer is buried in the other 160 pages of this thread   but does anyone know:

if is there a way to see how many CAPTcoin is in existence?

when is the last coin created estimated to happen (my estimate is about 12 years from now - is that about accurate?)

what is the transaction fee?

after than last coin is generated, how does the network keep going (is the transaction fee just divided amongst the POS participants? or how does that work)

good to know these things before getting involved in any significant way with this coin

thanks in advance!