Quote from: darknetspace on October 23, 2014, 04:17:50 PM

Quote from: Ouzo69 on October 23, 2014, 08:35:42 AM

Quote from: antonio8 on October 23, 2014, 04:29:30 AM

@ darknetspace

Thanks for the gui wallet.

Just transferred everything over to it.

It is a really good thing that you kept your promise creating the GUI wallet. Keep up the good work!

Regarding the 10% dev bounty:

The community would never accept a coin with 10% premine, because this is far too much. I can understand that you will need some compensation for your hard work. Nobody wants to work for nothing!

But in my opinion 10% is a little bit too high. You should charge a more modest percentage for your development work. I guess this is the true reason for miners turning their back on you.

The concept of this coin is really good. I like it and I am still mining it. But the most important thing at the moment is the reputation of this coin and not your compensation.

If the reputation of this coin is ruined you will be left with empty hands. Finishing the GUI wallet is the first sign that you really deserve some compensation.

Please work hard in order to convince the community that you really deserve your bounty. You should think over if 10% bounty is the right thing.

Hope that this coin will succeed.

Ouzo69

Really thank you for your supporting.

First of all, there is no such a thing called 10% premine.

This coin has no any premine, you can check the time of the first block and the time annouced and lauched.

From 4500th block, when you mine 100 DNC, we will take 10 DNC. That is the meaning of 10% dev bounty.

P2P exchange will be built on the blockchain, so DNC is the second generation coin like XCP and MSC, not simple POW coins like LTC and DOGE.

We are facing with many technology quizzs.

How to improve anoymity of protocol ?

How to pay and p2p trade under strong anoymous technology such as stealth address and ring signature?

How to setup new script system, because there is no any script system in bytecoin's source code, but P2P exchange needs it.

10% dev bounty means nothing if we failed. There are 5 people in our full-time team.

A lot of input but no output now except coins. It is ok, we love this game.

Thank you for your reply. I understand that the 10% dev bounty is not the same as 10% premine. Usually the premine is about 2%-3% of all the coins. Having 10% dev bounty means that you developers get 10% of all the mined from the 4500th block on. This means you have a little less than 10% of all the coins existing at the moment. The percentage is a little less than 10% because the first 4500 blocks were mined without dev bounty.

But let's look at the future:

After one year nearly all coins will be mined. At that time the developers will have about 10% of all the coins ever mined. So roughly speaking in one year the situation will be equal to 10% premine. The only difference will be that you don't have 10% of the coins from the beginning (i.e. premine) but you will have to wait for one year. But easily speaking you have 10% of all the coins ever mined during the first year of the coin.

You said that 10% dev bounty means nothing if you fail, but if you work full-time on this project you should better be successful.

10% is quite a lot if this coin will be a success. But I see the danger that 10% dev bounty may prevent the success of this coin. That is the reason why I recommended to think it over.

Another way would be that you work hard and convince the community that your work is worth every single percent paid by the miners.

Please don't get me wrong. I don't want to criticize your work. All I want to say is that you should consider carefully if the 10% dev bounty isn't an obstacle for the reputation of this coin.

Since I am mining this coin, I want it to be successful, too.

Best regards

Ouzo69

Ouzo69

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