Thank you for being a part of the first ColossusXT Reddit AMA! Below we will summarize the questions and answers. We had 13 questions from the community, and responded to 13 questions from the community! The ColossusXT team will do a Reddit AMA at the end of every quarter. Q:
What type of marketing plan are you guys looking to do in 2018? A:
Paid ads, b2b partnerships, and in person representation at more blockchain conferences this year are all being negotiated. Suggestions can be made by the community here: https://colossusxt.fider.io/ Q:
If I am correct, currently only the devs of COLX are being paid. I understand that the majority of people working on COLX are volunteers and I respect and appreciate that. However, when do you guys think you are going to hire paid full/part time employees/professionals? How will you guys make this happen? As in where are you going to get the funds for this? A:
Currently the paid COLX employees are blockchain developers as they have a specific skill set that is difficult to acquire. In the future if the community feels that paid professionals are required in a specific job function, for example marketing, a budget proposal can be created and the community can pay for this from the colx governance system. Note, the governance system is not an endless bucket of money, so care needs to be taken to ensure the community is allocating these funds appropriately across all of the colx priorities. Q:
When will Zerocoin protocol be released? A:
Zerocoin Protocol will be released in Q2. Roadmap: https://colossuscoinxt.org/roadmap/ Q:
Do you guys know when some COLX holders will get their coins back from Coinsmarkets? Also, where do you guys see COLX being used further down the road? A:
Based on an internal COLX investigation, we believe that all of the coins have been moved off of CoinsMarkets and sold on other exchanges. We're currently partnered with Polis Pay which will alow fiat to crypto purchases through their Debt card platform. We're also working on partnerships with multiple different payment processors and merchants. Press Release: https://github.com/ColossusCoinXT/Documentation/blob/masteCM_PressRelease.pdf Forensic Statement: https://github.com/ColossusCoinXT/Documentation/blob/masteColossusXT_Forensic_Statement_on_CoinsMarkets_Exchange_Fraud.pdf Q:
What separates colx from pivx, and other pivx forks? A:
ColossusXT is a privacy based blockchain. The future of ColossusXT is expansive. It will be built on the expansion of the Colossus Grid, with a backbone of privacy features. You'll be able to rent or sell computing power from the network to perform or even just speed up tasks that your computer has trouble handling. This is ideal if you routinely perform intensive calculations for activities like natural language processing (NLP), artificial intelligence (AI), or even machine learning for DNA exploration.
Example: You have 16GB of Ram, you rent 4GB for someone to use. Same with hard drive space, ect;
ColossusXT anonymous blockchain will protect your privacy, while you rent computing power.
This is the difference. Some privacy coins purpose is to be a private currency, ColossusXT aims to have a functioning anonymous currency, and Grid computing power utility. Q:
What other exchanges are we trying to get on? What is the status?
Thank you guys,
I am really looking forward to this AMA! A
: We cannot discolse which exchanges ColossusXT has currently applied to at this time. When we are able to make an announcement about an exchange listing we will post it on Twitter. Q:
Why do I always mint orphan blocks? I know what an orphan is but the last 7 times I have staked and minted they have been orphans A:
If a wallet is selected to generate the next new block (which will result in a staking reward) but does not complete this task in time, the new block will be orphaned and the task will be completed by another staking wallet. Thus, less responsive systems with a slower network connection and / or less available system resources will tend to generate more orphan blocks over time. If you have not updated to the latest wallet v1.0.3 you may see an increased number of Orphans. Orphan blocks are a normal occurrence on a blockchain. Q:
Is the max supply of coins fixed at 12 billion or are there plans to increase supply on a need basis? Since one of the features of COLX is to enable a lower than 1:1 split with major fiat currencies(USD/EUR), i wonder how will this be managed in the scenario that the exchange rate goes up and up and up ? A:
There is no max supply of COLX. Starting on April 28th, new COLX will be minted at a permanent rate of 1000 COLX per block, or 525,600,000 COLX per year, forever. As supply increases, these newly minted COLX will represent a smaller and smaller portion of the total supply. This means that the inflation rate will slowly decrease (asymptotically toward zero) over time. For example, next year the COLX supply will increase from 11.28B to 11.80B, an inflation rate of 4.7%. However, ten years later in 2029, the supply will increase from 16.53B to 17.06B, an inflation rate of 3.2%.
While we have designed our supply and inflation rate toward a goal of easy comparison to major fiat currencies, it is impossible to predict how this will compare in the future. There are currently no plans to alter the COLX supply to match world currency trends. Q:
Any additional informaton on the how the colx marketplace will work apart from what is mentioned in the whitepaper ? Reminds me of SilkRoad and we know what happened to that marketplace… A:
The colx decentralized marketplace will work similar to other decentralized marketplace projects currently in development from other teams. There are no specifics to release at this time, but Silk Road is not a development goal.
(Other projects, https://phore.io/marketplace/
How will ColX go about ensuring listings at the bigger exchanges. Is there a plan in place to reach the likes of bittrex and binance? A:
Yes, ColossusXT has reached out to many different exchanges recently. We do not believe that Bittrex or Binance are exchanges out of this communities reach. Funding for large exchange listings will be generated from the community governance system. Q:
Any thoughts on a rebrand at some point to something that rolls off the tongue better? Really not digging the name. A:
We recently re-branded from ColossusCoinXT to ColossusXT. At this time there are no plans to rebrand any time soon, but we are looking at requests from the community and have found that Colossus is being recommended. What do you recommend?
All community suggestions can be posted here to be voted on by the community; https://colossusxt.fider.io/ Q:
Are you guys planning on making Master nodes cheaper? With Bitcoin, it doesn't cost as much as it does with altcoins. You can have a basic PC/laptop with 140GB of space and you're good to go to run a node. Masternode does few different things than a normal node, which is the following: Increasing privacy of transactions Doing instant transactions Participating in governance and voting Enable budgeting and treasury system in cryptos So if we can have cheaper Master Nodes that will increase the privacy of the transactions, there won't be any scalability issues in the long run and more people will participate with governing and voting. Which leads to more decentralized currency. Of course there should be a barrier with creating Master nodes so that nobody can cheat the system, but can we consider a lower entry barrier? What are your stance on this? Thanks! A:
Cost for masternodes will not change. Implementing a safe shared masternode system is on the roadmap for development. Q:
When are you going to start marketing.?....i think we have enough working product to market it.tech and marketing should go side by side.....what are your plans to keep the discord more active ? Shift from telegram to discord made the community bit lousy...not much interactions and activity as in telegram.(recruits from all the time zones is needed) A:
Marketing has already started. The team recently attended the London CryptoCurrency Show. If there are specific marketing tactics that the community would like to employ they can be added and voted on here; https://colossusxt.fider.io/
. With a working governance system in place the community can also create marketing proposals as part of the colx governance system. Note, the governance system is not an endless bucket of money, so care needs to be taken to ensure the community is allocating these funds appropriately across all of the colx priorities.
Telegram is an awful platform for running a Community. We encourage all colx users to switch to Discord for more support and a better user experience.
Thank you for the questions! Originial AMA Questions: https://np.reddit.com/ColossuscoinX/comments/8bia7o/official_colossusxt_ama/
If you feel that you can contribute to this community please review our hiring form: https://goo.gl/PQeCm7 Website: http://colossusxt.io/ Whitepaper: https://colossuscoinxt.org/whitepape Roadmap: https://colossuscoinxt.org/roadmap/ Discord: https://discord.gg/UatyC Telegram: https://web.telegram.org/#/[email protected]
Some time ago, I wrote an article about how Bitcoin’s breakthrough, the blockchain, was driving developers to create systems that were previously considered impossible. While, at that time, my hopes were focused primarily on Ethereum, which is still very exciting, recent developments have made it clear that other systems have the potential to deliver on much of Ethereum’s promise in a much ... Customers can now spend bitcoin at Starbucks, Nordstrom and Whole Foods thanks to a partership with Flexa and support from Gemini's Tyler and Cameron Winklevoss. The OpenBazaar team is asking for assistance and is being very open with their code so that contributions can be made, as well as asking for Bitcoin donations. The ramifications this market could have through having proven identities, a rating system, a third party node, and usage through Bitcoin addresses would remove any serious potential for scamming. Bitcoin Wallet Transaction Alerts notify you by email when a bitcoin address has activity on the blockchain ; View, monitor and search bitcoin ownership and wallet balance by name, bitcoin address, email address, url or keyword; Check a BTC address to find connected websites or owner profiles! Follow @BitcoinWhosWho : Bitcoin Who's Who - Bitcoin Address Lookup. Blog; About Us; API; Advertise ... Crypto Sites List Is The Biggest Cryptocurrency Websites List With 1000+ Best Crypto Sites That Are Safe And Awesome. Press CMD + F To Search For Something. There Are 72 Crypto Categories On This Free List That Are Safe And Awesome And You Can Try Them All With These Links.Press CMD + D And Bookmark This Crypto List Because You Will Need It Again! OpenBazaar, the decentralized marketplace could close soon unless the community donates $100,000 as we are reading more in the latest crypto news.. The most popular decentralized marketplace OpenBazaar has no choice but to shut down unless the community donates money until Friday. The decentralized exchange (dex) built on Ethereum, Uniswap has accumulated a whopping $2 billion in total value locked (TVL) this week. Tuesday’s data shows out of all the dece Cypherpunks Taiwan successfully launched another bitcoin satellite receiver according to the reports from Bloctempo which we have in our altcoin news today. The island nation is the second in Asia to do so after Japan did the same in 2018. How to make money mining bitcoin and other cryptocurrencies without knowing anything about it: How to mine Bitcoin: How does bitcoin blockchain mining-work: How Ethereum Mining Works: bitcoinmining.com: Weusecoins- Mining Guide: Buybitcoinworldwide - Mining: Bitcoin Mining Calculator: Bitcoin Difficulty: Bitcoin Calculator The best way to learn to learn deeply about bitcoin is to avoid GUIs (even bitcoin-qt), and instead learn it from the command line. Lightning Rfc ⭐ 1,168 Lightning Network Specifications
Checkout my new video: https://www.youtube.com/watch?v=BKCCgB99Rto&t=265s #Bitcoin, #CryptoTrading, #Binance, ️Please like, SUBSCRIBE & Share the video ️ ⚡... Bitcoin ( BTC ) resurgence is continuing to sap capital from the altcoin markets as other cryptocurrencies are struggling to catch up to BTC. The DeFi Compos... This video is a brief introduction on #Options Trading in #Binance JEX Exchange Binance JEX belongs to Binance.com. Here in Binance JEX, you can trade #Bitcoin Futures, Bitcoin Options, Ethereum ... Referall links Bybit https://www.bybit.com/app/register?ref=wrrmX Binance https://www.binance.com/en/register?ref=GN9ZX0ZA Bitmax https://btmx.com/#/register... How to Short Bitcoin on Binance 125X Leverage Binance Futures Tutorial - Duration: 13 ... Using The Binance Futures Liquidation Calculator To Determine Your Position Size - Duration: 4:25 ... Video Highlights: Bitcoin Profit Loss Calculator App Binance New Feature Koinex Free Trading Option #Delta #Bitcoin #cryptotamil Learn how to use the calculator on Binance Futures in this quick and easy video explainer. Subscribe to keep up to date with more content from Binance and don’t forget to check our other videos ...