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Topics - mouseman

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Cryptocurrency Related News & Technology / Vericoin Roadmap Illustrated
« on: September 19, 2014, 06:04:56 AM »
Disclaimer: I do hold some Vericoins.

I thought this particular webpage on a separate Vericoin website (as opposed to the foundation home website) illustrated what current and completed projects have been suggested, in the pipe as well as completed. If you scroll down the page you will notice that the colored progress bars move to their corresponding level of percentile completion by the Vericoin coders.

I thought this imagery was very indicative of a cryptocurency team that "sweated the numbers" and thought development progress should be both quantified and communicated for those current and prospective investors in the Vericoin Coinbase.

It definitely shows a nice touch and I have to ask myself why this has not been integrated with their main website. At any rate, the entire page is worthy of a look and includes concise synopsis details such as the current Interest Rate % that the coin is offering for Staking Wallets and actual current number of coins staking.

Although we are seeing more and more talk about the ability to leverage Credit Cards "loaded" with BTC, most of them have yet to materialize or be as user friendly and feature packed as the forth coming Coinsis Credit Card. Now in beta and essentially proven to function as advertised (patiently awaiting additional videos), the Credit Card allows coin holders to load their BTC or Blackcoin onto the card and then converted into United States Dollar with trnasaction times typically being about 15 minutes or less.

A video of its actual real time use leveraging BTC loaded onto the card and converted to USD can be viewed at the bottom of the page:

My understanding is that you may also store your BTC on the card without actually converting it to the Dollar until you see fit to do that.

There are quite a few user friendly options that lead me to believe that the Coinsis Credit Card may just be the one that has moved to the front of the pack in the hurried race to combine BTC and USD together on a single card capable of being used anywhere Visa is accepted (and with sub 15 minute conversions no less). That said, let's not get ahead of ourselves. 1. This is still in beta (but proven to work), 2. at this point I am not sure if it will be accepted anywhere/everywhere VISA is accepted..or will Mastercard being involved...Discover...American Express??? We are going to have to wait for further clarification on that.

But lets be honest. What we all want to hear about is ALTCOINS! Yes, you guessed it. Your itchy little techy fingers will soon be able to load Blackcoin and also Vericoin on to this Credit Card as well and subsequently converted to USD for quick use.

So what's BC and VRC got to do with the price of rice in China you ask my young Skywalker? A LOT!
Although we are going to have to wait for further details how a coin can be involved with this Credit Card, we all would love our precious CV2 to get its day in the sun like any other top flight cryptocoin. And a quick and clean avenue to get Colossus Coin to the masses could be achieved by mating Colossus Coin with the Coinsis Credit Card.

Let us follow this company, see where the Vericoin news, development and relationship goes between Coinsis and the VRC Devs and keep an open ear if and when the new version of Colossus Coin can be leveraged for purchases with this Credit Card. 


+ Stores transaction info on the Blockchian Network
+ Send/Receive BTC by email
+ Send/receive BTC by BTC address
+ Send/receive BTC by QR Code
+ The ability to retract BTC if it is not claimed by the receiver (VERY interesting)
+ Store BTC until you want to convert to USD
+ Store currency as USD vs BTC
+ Visual/viewable account transaction history
+ More

I own both Colossus Coins and Vericoins, however do not own Blackcoins nor Bitcoins.

Disclaimer: I do hold some Vericoins at the time of this reporting.

This is NOT breaking news and is nearly a week old now. Again, this is nothing to be concerned about as it was 100% taken care of and neither Mintpal exchange members nor Vericoin investors lost any coins.

The following poll was used to get some level of insight whether the crypto community and Vericoin investors thought Vericoin Devs' immediate move to rollback the coin's blockchain was appropriate and warranted.

The community logged 200 "yes" votes (72%) to 78 logged "No" votes (28%) in support of the Vericoin Devs' time warp 1 day rollback of the blockchian. This vote in no way influenced the Vericoin Devs' in their decision and was a simple straw poll that was created AFTER the Devs' had both made the decision to take action and had completed the Blockchian Rollback successfully.

Just a few days ago the quickly growing cryptocurrency trading exchange was hacked. Vericoin, and supposedly Litecoin as well as Bitcoin wallets were the target. However, Mintpal has admitted, for various reasons, they had left a high percentage of the member Vericoins in a hot wallet when they should have been in a cold wallet. Kudos for Mintpal for being forthright, however is doesn't change the fact that this was in fact a grave oversight. This oversight so large as to quite possibly shut down the exchange as it has been quoted by the 3 developers that the thief made off with what equated to 8 million Vericoins (equaling 1/3 of all Vericoins in existence).

How nearly 1/3 of all Vericoins ended up on one single exchange is beyond me, but that is not the topic of this thread as much as Mintpal's irresponsibility and the question of whether the Vericoin Devs made the most competent decision in light of what was at stake.

So, what was at stake? "Was" is the pivotal word in that question because although their may be some long term ramifications to the physical blockchain rollback decision of Vericoin in the cryptocurrency industry, the fact is that in the short term this saved not only Vericoin but also the exchange. Had the Vericoin devs collectively agreed to not rollback the blockchain approximately 24 hours so as to disable the 8 million coins the thief stole from the Mintpal hot wallet:

1. Mintpal would have to have come up with approximatley $2 million to reimburse vericoin coin holders

2. If it did not have the funds to follow through with that, it may very well have had to close the exchange

3. Which of course would have also meant, much like the Mt. Gox saga, those Vericoin exchange holders would have lost most if not all their coins

4. Also, if Vericoin Devs' did not implement the blockchain rollback, and all Mintpal exchange members holding Vericoins were told by Mintpal that their coins would not be reimbursed by the exchange, this decision could have very well created such a negative investor backlash as to render the Vericoin a "semi-dead" coin. 

All of those "possibilities" did not, in the end, happen. Things were returned essentially as if they never happened when the 24 time warp was implemented. Simple as that? Wash our hands clean and move on? Well, maybe.....maybe not. We will see if the Mintpal trading exchange loses not only its strengthening momentum is had been building up against its exchange competitors, but also if Vericoin itself can maintain both its trading price and reputation as a whole.

Again, I will leave it to the Colossus Coin community to decide this essential "saving" of both the Mintpal exchange and the Vericoin investors holding coins on that exchange was or was not the "right" thing to execute in light of all the factors discussed here.

Edit: Also keep in mind, the THIEF himself who stole upwards of $2 million worth of Vericoins, apparently because he did not trade them for BTC fast enough, made off with $0. Got to love that aspect of the story!

Disclaimer: I hold both Karma coins as well as KarmaShares.

KarmaSHARES is the formal American Limited Liability Company created as a separate entity to Karma the coin. Investors have the option to leverage Karma coins to buy "shares" in the business side and receive payouts in BTC based on their Share % of the company. The company has formed to create crypto and technology related individual projects of many variations.   

The acting Director of KarmaShares and Karma the coin has notified shareholders that he has been in France in talks for multiple days with a French based Venture Capital company/individual that has made a multi-staged buyout offer of the KarmaShares created current flagship product search engine. Interestingly, the search portal is still only in beta only being created just a few short months ago. The Karma coin rewards integration aspect of the portal was planned to be integrated into the search engine very soon as it continued through its beta testing. 

The KarmaShares Incorporated Company ( is the first Cryptocurrency to incorporate and issue shares to Karma coin investors as of just a few months ago.

The Shareholders now have the immediate and challenging task of discerning whether the offer is actionable, realistic and equates to a solid return on investment fo Shareholders.

Disclaimer: I have never owned any Blackcoin or NXT coins at the time of this article or previously.

This is perhaps one of the longest articles I have ever read over at cointelegraph. It does also include some hands on and discussion with the devs of each coin possibly. My focus is more on Blackoin's new technology as well as their Proof Of Stake 2.0 technology. Still waiting on more info about that but here is a peek:

The following text is merely what I quotes as relevant from the cointelegraph article/interview/hands on specifically discussion Blackcoin's new "BlackHalo" "Smart Contracts" and MultiSig Wallet features.


If the market takes advantage of it, this would instantly make Blackcoin the most secure coin for freelance workers

If a worker enters into a Blackcoin backed smart contract, he or she will know that the owner has a vested interest in coming to a satisfactory conclusion to the contract. If, for an example, a web designer and website owner entered into a Blackcoin contract, then after the designer made the website, the owner decided he or she didn't like it, both sides would have reason to revise it until it is satisfactory. This is a far better position to be in than normal freelance situations where only the designer, who had put in the work, has anything laying on the line.

The potential goes beyond work on the internet as well. A decentralized eBay is possible with this technology. If you send a physical good through the mail, you don't have to worry as much about the buyer claiming he or she didn't receive it and trying to get the escrow back. With a substantial deposit on both sides, those kinds of scams will no longer be profitable.

BlackHalo just went public days ago, so as you would expect, there isn't much of a marketplace at this point. If that can be curated, it could be the go to method for selling physical goods using cryptocurrencies.

Rather than looking for a pure technological solution, Blackcoin simply decided to make a system that makes phishing attempts using smart contacts unprofitable using a new double deposit system. If two people enter into a contract, the one paying would put their coins into an escrow system as normal. However, both sides could also be required to put down a separate and smaller deposit.

If both parties agree that the transaction went well, then the money goes from escrow to the seller, and both deposits are returned to their users. If both parties agree to cancel the order, then the money will go back to the buyer and both parties will get their deposit back. However, if the parties can't agree on if a contract was completed or not, the buyer will get the contract's coins back, but both the buyer and seller will lose their deposit.


Also of particular note is BlackHalo's multisignature accounts. Every BlackHalo wallet is multisignature. The program will generate two key files, both of which are needed to unlock the wallet (one key can be used to track the wallet, but both must be used to enter into smart contracts or withdraw money). Ideally, users will keep one key on their computer and the other in a safe spot like a USB thumb drive. This isn't an online generated wallet where you have to trust the provider to delete your keys, this is a locally created and locally stored, full feature multisignature wallet.

Blackcoin is working on an asset exchange and a physical / digital goods store.

These two coins are rushing us forward into Bitcoin 2.0. Even if they fail, they will be remembered in crypto history for pushing Bitcoin developers to keep up. However, there is certainly room for more than one cryptocurrency, and both coins have more to offer than Litecoin or any of the other popular altcoins out there.

I don't know which coin will have all of the cryptocurrency 2.0 features implemented first, I'm not even sure if it matters. The important thing is that they are building the crypto paradise we were all promised when we first heard about Bitcoin and it is up to us to take advantage.

At this point we still do not have any specific details from Kosmost the lead dev on KARMA as to what they have planned for this new "sidechain" they have under development. The following quotes may give us a peek, but apparently we will have to wait a bit longer for its introduction. Be that as it may, as we bring Colossus Coin to the forefront it is imperative that we keep an eye on new crypt-currency coin innovations as their specific (or altered by us) implementation for Colossus Coin version 2 may benefit its ecosystem.

You can find the original announcement in regards to this change here:

I did mention there was a second Karma announcement, which involves the development of a sidechain to augment the Karma ecosystem. In turn, this will make Karma the very first digital currency with a working sidechain.

The sidechain, dubbed “Karmx”, will be a Proof-of-Work/Proof-of-Stake/Proof-of-* hybrid, which will be merged mined with Karma. This will provide additional security to the Karma blockchain, and allows for the introduction of new features down the line.

The merged mining aspect of this sidechain will reward mines with both Karma and Karmx during the Proof-of-Work phase,and maybe even after that. This could very well help reduce the number of Karma coins in the future.

The Karmx Proof-of-Stake aspect will offer variable interest rates. For example, if the network hashrate of Karma would be to drop significantly, the Karmx interest rate from staking would be increased.

“Additionally, Karmx will be a mathematically-controlled 1-way peg that introduces pricing stability into the Karma ecosystem during its PoW period. Karma will be sent to the sidechain, exchanged for Karmx at a rate commensurate with the price of gold (or a composite or equity with greater stability, such as the DJIA; open for debate)”

“With our plan to create a global enterprise based on decentralized currencies and entities using them, we chose to peg the exchange rate of Karma to Karmx to gold in order to create a connection with price oscillations in the real world. In this way, we plan to make our system sensitive to changes in the global economy and respond appropriately to them.”

I know a lot of you readers will be confused because of the Po* bit. We have not received any further information about what this will entail exactly, but there will be a detailed announcement in due time.


Although I personally cannot vouch for ever using this company and its website, at some point I am sure to give it a whirl. The $ I sent last year to  to buy LTC required several checkpoints befoe ever getting to the exchange, not to mention extra $ wasted! This company delivers the coins straight to your wallet, however I don't know how they go about pricing. In other words, do they tack on an extra 5%, etc to the coin price when you buy them? If anyone has any experience with company, please post your insights. They claim remmintance in about 30 minutes, and if true that would be lightning fast as opposed to buying from

Darkcoin Dogecoin

And the list goes on. If the coin you desire is not in their drop down menu, you can ask them via a form template if they can make that purchase for you and you send them paypal cash. $100 minimum coin purchase.

Obviously this post is not just about informing people where they can buy cryptocoins faster, it's also about pointing out that we want Colossus Coin in the future to be included as one of the default buying options that this website is offering as a choice coin to purchase. We'll take care of that in the future.

Great news. In addition to the DogeCoin Tipping App at Facebook being approved, it is ALSO being reported that The Multicoin Tipping App developed by Alejandro Caballero has also been approved. Although Colossus Coin is not currently one of the roughly 10 coins included in the MultiCoin Tipping App, that may be something we can look into after Colossus Coin 2.0 is launched.

Further related news:

Colossus Coin has made the cut for this new ebook.
If you scroll down the page you can see the front/back cover and COLOSSUS COIN made not only the font cover but has its logo displayed at the top of the book!!!

Written by Chris Thompson and Charles Ellis.

I voted for COL to be included in the book about 3 months ago before voting was concluded.


Very trick little web based application that allows you to calculate the value of your specific coins into various different fiat currencies. To find COL you will need to scroll down a bit. Initially supporting 6 government currencies along with hundreds of digital currencies. A VERY helpful trading tool as well. 

Sorry, there is also an Apple App as well. I can see this becoming very popular.

Came across a enumerated list of Proof Of Stake crypto currencies that has been compiled by "StakeHunter" over at btctalk. Tip of the hat to him as I am confident it required quite an investment of time to research the various coins listed. Colossus Coin is represented as well.

It is a rare occasion that anyone ever inquires if Colossus Coin 2 should move from its current Hybrid Proof of Work/Proof of Stake (now only in Proof of Stake mode) back to a Proof of Work only coin. I personally LOVE receiving staked coins in my wallet for those I hold, but am always reminding myself in growing wisdom to keep my mind and options open. COL was mined very quickly and hence removed the miners involvement from the coin in quick fashion. Would be interested on peoples thoughts if it moved back to an x11 algo via 100% POW only throughout the maturity of 100% its coins. Not advocating or pushing it in any agenda here other than to see what is best for the coin itself and the public's long term interest in COL 2.

I found this article over at coindesk and thought it pretty insightful. A few things like the 51% comments as well as a couple others are very debatable, but otherwise and very interesting take on what MAY be necessary (in the eyes of this author anyway) for dogecoin to survive and thrive in the digital currency world.

All 3 of these coins have had significant increases in trading volume and price increases (although as expected, some subsequent profit taking).

RonPaulCoin moved from 41 cents to about $2.50 before its pullback. The developer of HoboNickels "Tranz" helped with the Kimoto Gravity Well and the time Exploit fix on the coin for the developer Colin over at RPC. Tranz has been a fan of the coin and has donated his time in the effort (although would appreciate some donations naturally). RPC has been targeted by multipools and has just about killed the coin from its high of over $43.40 at one time. Tranz is one of the developers I had mentioned as a pretty cool dude that could be of help to us here. Keep an eye on his HoboNickels which has been on a steady, behaved climb for months.

Some discussion of it here but not really a formal announcement just yet.

ReddCoin made major algo announcements and they also saw a large move in trading volume and price .. before a pullback. [MAJOR ANNOUNCEMENT] Reddcoin to implement new algorithm Proof-of-Stake-Velocity

SaturnCoin has made a major announcement that they will move to POS and reduce coins from 15 B to 7.77 Billion and they are already at 7 B!! Other changes as well, but the most significant of which is the building of a new blockchain which I believe is noteworthy to COL:

Saturncoin has had a nice runup on the news that many apparently see as bullish for the coin.

These are 3 coins, which just scratch the surface of a larger trend, where their respective developers and community at large have concluded (AND TAKEN ACTION) very positive algo changes to their coins in an effort to make them more secure, more profitable, more feature rich, the net result of which is greater coin differential advantages from competitors and an overall stronger selling point to investors and miners alike.

This is a very positive, now proven strategy, that Colossus Coin will also benefit from when in due course it gets back in the fight....6 shooters ablaze at that!

Disclaimer: I do own some RPC

COL 2.0

Is it possible we could conceivably pull together the resources and code, features and specific algos from other successful coins that have some of the features we desire and pull them all together into the same mega-features coin (COL 2.0)? How realistic is the endevour and how many would welcome a mega-feature type coin on relaunch?

Sudo recommended sending out newsletters concerning 2.0 happenings as we secure further involvement perhaps from additional people. I think the newsletter is smart to get people involved in what their wishlist may be in recreating a coin. If you think many different features can be spliced together within the same opposed to just a few..all the better to let people know we can still consider their wishes/features and possibly implement them in the col 2.0 redesign. OBVIOUSLY we cannot be all things to all people and it would be very unreasonable to to attempt to make everyone happy as we would surely end up with a pretty bloated coin I reckon.

That said, I am certain many people would just want to point to specific features they respect and ask for it to be apart of 2.0.

Meaning, there is one main orchestrator pulling all those feature code requests/additions together to get closer to the 2.0 coin.

IF, col 2.0 is loaded with features that other coins have successfully implemented that INVESTORS WANT and appreciate as valuable, col 2.0 could be a very very serious contender.

Crestington, could you flat out tell me if we are in some way limited with respect to what we can code? I mean, is there some reasonable and acceptable limitations on coding features in the same coin?

Could we hypothetically do x11 algo, and go back to our POW/POS hybrid and throw in myriadcoin's ability to mine using different algo's and use cpu/gpu/asic? And throw in Blackcoin's dark wallet anonymize coin sending feature or TIPS/fedoracoin's anonymous "coin mixer"...and throw in a splash of blackcoin's multipool feature and buy col 2.0 with the various mined coins?

Just a hypothetical it a nightmare to pull all those features together in the same coin or would we be looking at a coding nightmare resulting in day to day code-conflicting problems if we created a very feature rich crypto-currency?

I'd really like a mind bending coin that was very feature rich myself, but have no idea if "code bloat" becomes a concern with respect to excessive coding within the same coin and managing/updating it when necessary. I wouldn't want to create a crazy, impossible to manage Frankenstein of a coin, but on the other hand I think strongly col 2 would be much more sought after with further features.

Features within a single coin that:

1. MINERS would want to mine (shorter term profit), and CONTINUE mining with the blackcoin Multi-pool,

2. INVESTORS would want to buy (longer term profit) and hold (gain additional coins through staking),

3. TRADERS would want to trade (high coin float = more liquidity),

4. DEVELOPERS  would be green with envy wishing they had created COL 2.0 because it would personify the quintessential "cryptocurrency" and an advanced coding amalgamation far beyond where it all started out with Bticoin 5 long coding years ago.

Crestington is far more intelligent about the working of all this, as such can more properly discuss the value of creating a multi-mining pool like what Blackcoin has created:

I think this is a very valuable concept that could assist COL 2.0 is so many ways it would be time consuming to enumerate them. And although this is not necessarily be apart of the Colossus Coin code algo, it still could be considered an extension of it.

Suffice it to say, amongst the benefits would include:

* securing the col2 blockchain through mining.

* getting us back to the basics of mining (which is pretty fun if you are a miner looking for great coins with an appreciate value proposiiton)

* continually keeping buying pressure on Colossus Coin 2 as we mine OTHER profitable altcoins and then use those funds to actually buy our own COL 2. coins and distribute those to our miners.

* an additional upside is that price manipulation of col 2.0 would be a bit harder with this strategy.

Many other benefits as well Crestington may have the time to add here.

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