SmartCash SplitFork Coming To Give Power Back To The Community
If you haven't followed up on the recent public dramas of smartcash, make sure you click HERE first and then HERE. I have great news for the real smartcash community today and by real I mean the average people most of whose portfolios are down more than 90%. I have managed to find a developer who's going to help us split fork smartcash in order to give power back to the community. Following are the proposed changes in the new chain:
- Take a snapshot of the blockchain at block 635,000-647,500
- Burn the existing budgets - appx 1.14B coins!
- Burn the obvious whales and exchanges - appx 120M coins!
- Burn any address that is directly linked to smarthive - appx 220M coins!
- Start with a fresh blockchain and forkdrop the remaining of coins - appx 320M coins!
- Change from PoW to PoS for decentralized and secured mining
- Change the voting style and put it on chain with masternode voting like Dash
- Steepen the curve of the block rewards moving forward
Proposed formula for the block rewards in the new chain:
floor(0.5+((2000 * 647500)/(4*647500 + nHeight + 1)))
Based on this formula, block rewards would start with about 500 coins per block(plus another 500 which will be locked in the limbo for budgetting and if not used will eventually go to miners and masternodes) which will be split between masternodes and miners and will eventually go down to 250 coins within 4 years. This would make the inflation much fairer and steeper for future adopters as opposed to smartcash which went from 5000 to almost 1000 within appx. 14 months. The budget coins will be mined from future inflation in the same way it's done in Dash and each proposal will only be allowed to ask for 2% of the monthly inflation. These numbers are all proposed after much thinking but we're open to suggestions and feedback from the community.
Proposed block time: 50 seconds
Proposed masternode collateral: Keep it at 10,000 coins
Proposed minimum yeas voting percentage: 20% of available masternodes
Proposed proposal & budget fees: 100 coins
Proposed block rewards allocation: 50% budget - 25% PoS - 25% Masternodes
Proposed maximum supply: Keep it at 5B coins
No centralized hive, hives or core team! Everything will be based on proposals voted by the community! If you want to get involved, join us on Discord. Estimated time for releasing the wallet is in appx. one month from today. Once we release the wallet, we can submit proposals for literally everything - from the design of the website + the domain and server costs to exchange listing, etc. The developer who is going to help us make this happen is only asking for 1M coins in the new chain or 5 bitcoins. I would ideally prefer if we didn't premine anything and raised 5 bitcoins in donations but if that doesn't happen, we're going to have to premine 1M coins to pay for the initial development of the new chain.
If you have any ideas or questions, make sure you leave a comment below or join us on discord. Nothing is finalized yet including the branding of the new chain so if you want to have a say in any of this, now is the time!
Who is this person?
Can we get more details about people working behind this fork?
Wants to remain anonymous. Everything he works on will be made open source anyway.
lol
premine, selective burns, known dev has history of ransom/stealing from community, and a new dev that is anonymous to get the 1M fee. SCAM
https://steemit.com/smartcash/@blockchainlib/important-security-update-for-the-smartcash-tipbots
LOL you're still trying to push your bullshit story to the gullible people who may not have read the full story. Pathetic. And yeah let them stick with smartcash - a blockchain in which 1/3rd of the circulating supply is in balances directly paid from smarthives. Add the amount they've spent and you'll probably get to 2/3rd of the circulating supply. Talk about it being a big club and you not being in it. I know you love your paycheck. I used to love my paycheck too but is it really worth lying so much? Don't you have a conscience...
@msg768 I like to know when did you start to feel this way about a smartcash?
https://steemit.com/crypocurrency/@msg768/smartcash-what-is-it-and-why-you-should-care
I can not but wonder if you had not left the hive team, will you still have these new views? It makes it look like you were happy with the "centralized" #smartcash as long as you were getting paid - just me thinking out loud.
Very good information and sounds good the more I am reading about this hardfork. Is there a write up about what people with current smartnodes would need to do? Or how to claim those coins?
No but there will be soon. Keys will be the same as far as I know so you'll just need to import your private key in the new wallet and then you'll get your coins in the new chain.
thank you much look forward to more information about this
@bitcoinflood please be careful where you import your #smartcash private keys to as your private keys will gives them access to your #smartcash as well. If you must first of all move out your smartcash from the address you plan to export private keys for (you will of course disqualify your addresses for #smartrewards and possibly noderewards depending on how long it takes you.
Thanks for clarifying the risk.
When I read that suggestion I was like WHAAAAT, IMPORT YOUR PRIVATE KEYS????
YEAH, BE CAUTIOUS, I think by now we all know who is it that we’re dealing with. 👍
It will disturb your smartrewards, but the standard practice is to move your existing crypto to another address after the blockchain snapshot but before you enter your private keys to claim the new crypto. If there is any breach the perp would be looking at an empty wallet except for the new crypto.
Count with me and www.bitcorpve.com to do that actual smartcash is centralized so i have a lot of people to work for this. am joining to discord and start smartcash telegram spanish group. my telegram cryptoneo777
What a basket case 😂😂.
Posted using Partiko iOS
spanish post too
https://steemit.com/smartcash/@juanbaro/smartcash-es-un-scam
All I can say ... was thinking of going into Smartcash. Now after reading this, I feel a hell of a lot more informed and am quite glad I didn't.
@cambridgeport if you really want to be informed then you should not believe everything you read, do some digging. If you do you would find out that the team behind this so called split is made up of ex -hive and squad members fired for one reason or the other some including theft, and trolls kicked out for antisocial behaviours. I would be very careful to join a team of with people who have demonstrated low morale especially when handling funds.
https://steemit.com/smartcash/@blockchainlib/important-security-update-for-the-smartcash-tipbots
In your opinion, is Smartcasht now decentralized? What's going on with the proposals?, why all of then have been rejected? Thanks
@juanete20 there are two parts to the proposal story. There is the fact that there has not been any really good proposals and the community is voting them down because proposals similar to them have failed to deliver. There is also the part that not enough details to allow an educated decision be made are included in the proposals. As to if the voting is decentralized I say yes as I nor anyone I know has ever voted on a proposal as part of a block.
Voting is easier than ever now with integration with the Web Wallet and Node Wallet. So more people are voting. At least 33% of proposals have passed to date. With the lower price, lower quality of the proposals currently, and over 40 currently operating proposals it's not surprising that more voters are saying "wait".
Some tips on successfully passing a vote: https://forum.smartcash.cc/t/having-difficulty-getting-your-proposal-passed-try-these-7-easy-steps-to-improve-and-try-again/5119/6
Rejected proposals are not the core problem on smartcash. There's a lot of things going wrong and "team members" likes them like this.
love it!!!
Hey man what are you loving????
@msg768 I like to know when did you start to feel this way about a smartcash?
https://steemit.com/crypocurrency/@msg768/smartcash-what-is-it-and-why-you-should-care
I can not but wonder if you had not left the hive team, will you still have these new views? It makes it look like you were happy with the "centralized" #smartcash as long as you were getting paid - just me thinking out loud.
No shit! You got me. Haven't you ever heard this quote? "It is difficult to get a man to understand something, when his salary depends upon his not understanding it!" If you want REAL information, get it from those whose salary does NOT depend upon them not understanding it...
Have you read https://steemit.com/smartcash/@jjk/smartcash-governance-and-the-subject-of-decentralization ?
SmartCash flagship products related to SmartCard depend on centralization - it will not work on your fork. How is your fork going to be better without it? Why don't you just move to DASH, Decred, PIVX or something existing with the same or better properties compared to your new, planned fork?
If you really want to help people invested in SmartCash, you should try to improve it. Can you at least list clearly what are those key features of SmartCash governance that you have learned while working there, and that convinced you so strongly about its immorality that you are willing to undertake an endeavor to fork it and make it right?
LOL
You got a free upvote from @reversed-bidbot! Follow me to earn steem by interacting with my promoted posts.
This looks p awesome!