What is Linx? Linx is a crypto currency, like Bitcoin, which can be used as a store and transfer of wealth. We are aiming to make itShow more [+] one of the simplest and most enjoyable digital currencies to use by introducing novel ways of sending and receiving coins.
celebrate the World Cup With Linx 1000 coin giveaway
To celebrate the World Cup @Linx discord https://discord.gg/XtyzzYM have decided to giveaway 1000 linx to be divided between anyone that can pick the winner of the World Cup simply drop in to Linx Discord scroll down to FIFA World Cup giveaway then Post who you think will win it's that easy All entries Must be in by Friday 22/6/18 UTC time the competition is open for anyone and everyone
just make sure to say hello in the chat from time to time and invite your friends all the best good luck :soccer: :soccer: :soccer:
Dev: Hi guys, please find an update from the team and some answers to your recent questions and comments below.
As you know the current Linx price has taken a significant hit in the last week or so. Of course this is unwelcome news for us just as much as it is for anybody holding Linx. As much as we don't want to see unsupported pumps we also don't want to see dumps.
The entire crypto scene is experiencing a big downturn at the moment for various reasons, not least investigations into market manipulation, audits being carried out on several of the big exchanges and a recent hack on a Korean exchange. Anybody that has been involved in the space for a while will have seen this kind of thing before and aren't too worried, but newcomers and some big investors are getting shaken up pretty bad which is understandable.
It's a tough time right now, especially for those that only got involved in the space during the Dec / Jan bull run and it will probably take some time for confidence to return. If you trust in cryptocurrency and it's potential to change the current financial model, like we do, then it's just a matter of sitting tight, waiting for the dust to settle and to continue following and supporting the projects that you believe in. Patience is the key, to quote Warren Buffet "If you are not willing to own a stock for 10 years, don’t even think about owning it for 10 minutes." If you're still unsure zoom out on the Bitcoin price chart and remind yourself of how far the crypto scene has come in less than 10 years!
Hybrid / Masternodes
We are having meetings this week to discuss the possibilities of switching to a PoW/PoS hybrid or introducing Masternodes.
These options have been on the table for quite some time. Unlike a lot of other mineable coins our block reward ends quite early, around the year 2030. We scheduled it this way as we felt that with the incoming advances in computing among other things that it was simply unrealistic to expect that any PoW cryptocurrency would still be "mined" in this way in 20 years time let alone 100+.
We are confident that with some of the brightest minds on the planet involved in cryptocurrency other alternatives will present themselves in the not too distant future, so we set the end of the block reward early with a view to adopting one of the existing solutions like PoS or Masternodes in the interim. Network stability is of utmost importance to us and any future decisions made will reflect that.
On the financial side of things... Although we firmly believe the majority of the value in this project will be derived from the facilities that we will be introducing we also fully understand that a basic core level of crypto-based support is required for any crypto project to be successful. We aim to cover all bases with whatever direction we decide to take.
We'll discuss our thoughts on this as well as inviting the community to have their say in this matter also before any decisions are made one way of the other.
Linx is not a token
In other news the SEC Chairman has clarified the SEC position that cryptocurrencies like Bitcoin are considered a replacement currency and therefore not regarded as securities, but most "tokens” and ICO’s are regarded as securities. This is a potentially worrying time for anybody investing in ERC20 tokens, but as you hopefully already know Linx is a mineable coin, NOT a token. We fall in to the same category as Bitcoin and therefore any incoming regulations aimed at ICO’s or tokens will not be applicable to Linx. Worth remembering when the sh*t starts to hit the fan!
On to some of your recent questions and comments...
User: Not trying to fud, but I really don't think any news is going to do much to the price in the current market. This isn't against Linx, it's just the market that we are in and I would say the same for any other coin.
Dev: This is the frustrating truth of it right now. There is pretty much nothing we could say at the moment that would help long term. Even an announcement of a big exchange listing would only cause a temporary pump and dump which would end up leaving us in an even worse situation. Until things start to level out this is going to be case for many crypto projects at the moment. We've just got to sit tight, ride it out and be ready to release the beast when the markets start picking up again.
User: The developers aren't concerned about the current price of linx so I'm not either, and they have far more to lose than we do.
Dev: We are concerned about the price when it causes people to start doubting the project publicly, which is what happens to virtually every crypto project every time the price drops. But we also know we can't stop or control this. It's how the crypto scene will continue to thrive (hype / fud depending on gambling requirements that day) until some of these projects break out of the space and are used by a new audience.
Your last point is hopefully obvious to most but reading some of the comments in the groups you wouldn't think so. Yes we have more to lose than any of you, both financially and in other ways. We have devoted a year of our lives to this project with no financial rewards whatsoever yet, while all holding down our respective careers. The last thing we expect is it to all have been a massive waste of time. If you take nothing else from this Q&A know that whatever happens, we will do what we've set out to do regardless of the market price.
User: So are the devs ever gonna reveal themselves?
Dev: If this project succeeds it will be because we created something of genuine use and managed to reach the right market, not because of a name on a white paper or website. That is only relevant to the people that we will be doing business with as they obviously need to know who we are. It's also important that you know that every member of the Linx team is a well known working professional in their respective fields.
User: If there was more transparency there would be some greater support
Dev: It is your right to blame whatever you want but the truth is that there are 100's of crypto projects out there with full development and team disclosure and most are hurting at the moment. If you had every single detail of who we are and what we are working on it wouldn't make the slightest bit of difference right now.
User: I don't like at all the selling orders... i am starting to stop trusting our project
Dev: We don't like them either but if you're only trusting this project, or any other crypto project, based on the price or the order book you aren't "trusting" anything. You're just watching market traders.
User: The team has said early on that they had hoped to accumulate linx at a low price to make up for their measly premine, but linx took off too fast. Now linx is at a low price. Wondering if they still have funds to accumulate.
Dev: That was all talked about before we introduced the dev fee.
User: The price of bitcoin has to go down more to be able to consolidate, this will take time, more people will come out of crypto, I think it will worsen a lot and then will improve even much, when most have given up
Dev: Again, a hard truth that everybody involved in the crypto scene isdealing with right now. If any of this was easy everybody would be doing it!
User: 5.7 years till the next halving!
Dev: No that was our fault, a mistake with the halving API displayed on our website which was explained in a slack update and on our Twitter feed. The next halving will occur at block 2000001 which is currently scheduled for April 2021.
User: Pool registration issues
Dev: This is something that has been an ongoing issue since we launched the new pool (linxpool.com). The problem lies with Gmail accounts. Google have got some kind of filter preventing automated emails (like registration ones for example) sent from our pool from reaching a Gmail inbox, it doesn't even dump it in the spam folder, it simply rejects it. If you see anybody having issues and we haven't responded to them already please advise them to try registering with any other email account than a Gmail one. We'll keep trying to get to the bottom of it but it's proving difficult to diagnose at the moment and the team is tied up with other areas of development currently.
User: Github / Microsoft
Dev: As mentioned in the last Q&A we have our own private Gitlab repo so don't be surprised if you see little to no action on the Linx Github repo. Since the announcement of Microsoft's involvement with Github you'll notice that a lot of crypto based projects are now migrating to Gitlab. We will be following suit and moving the source at the Linx Github repo over to a public Gitlab repository.
User: This coin will be something new, i know that everyone says this to make some huge profit but this coin will connect a very special community, the electro community...
Dev: This has been our underpinning from the start. We know that the market for Linx is potentially huge. We get that maybe a large number of crypto heads just don't see this and they are far more interested in technical advancements and promises of ground breaking blockchain based things to come in the future, but we know this market is real and it's out there right now... waiting for Linx - they just don't know it yet :)