Published in


An E-Mail Exchange Between Innovators

The Satoshi Nakomoto of Zurcoin and I Exchange Points of View

Developing a Blockchain is a sort of consensus process. Opinions can differ a lot, ideas can change, and situations constantly have to adapt. Here is an exchange recently between the Zurcoin developer and myself, the one who runs the brand. It highlights some interesting points about decentralisation and in particular, the nature of chains as they are created and marketed today:

From DMH to Zurcoin Developer:

what’s this? We already have counterparty on Zur?/

Also is it possible you think to install Omni on Zur? Or even to make an Ethereum again since that was created off Bitcoin?

They will update the wallets. 0.2 BTC.

They said they will do it this week — I’ll pay for it of course. I can’t believe they will charge for this — I mean, what? To download a new wallet from

Anyway they maintain it will be done this week. OK, good.

From Zurcoin Developer to DMH:

a friend of mine started to work on it (counterparty for zur) but never completed…

its a little bit above my dev. skill level to make it work

that would be wonderful if some zur holders can withdraw their zur… if they didn’t give up and sold in loss

thanks for your work

also thanks for requesting coinmarketcap to update

From DMH to Zurcoin Developer:

OK I think I can get it in shape. Also have another protocol application can use

I have one concern. How much of the coins do you own? Let me share my concern here specifically and you can form your own opinion.

There are 100m coins pretty much. We are nearing end of mining. Many (most) are owned by people who are not you nor I. This is a problem and I will tell you from experience it is also a dangerous problem. This is because if I pump the coin up (which is ready now) it goes up and then people buy these guys will sell hard. Look what happened to my Coeval. Whatever anyone says, that wasn’t me. Why would I destroy a coin I created? I wanted it to be worth a load of money, billions even! This may happen with Zurcoin if Yobit do this. I believe that Yobit and CMC are the same guys. End of mining will kill this coin too just as it gets started. Miners will not come. I have information to suggest it is true. Now, one option we have is as follows: we can organise a swap. I know you hate premine so see that this solution I suggest is zero premine. We can start another POW blockchain like Zur same also but infinite supply — this means miners will always mine it (albeit less % every year is fine). We can mine the shit out of it in the first 6 months easily and then we will use that mined amount to carry out the swap. This would keep the chain alive. What we will do is we will penalise any wallets which haven’t moved coins in the last 6 months. Those people are long term and they will likely dump. They are saving to dump. So we say 1 coin for 1 coin if you moved your coins in the last 6 months. 0.5 coin for 1 coin if between 6m-2.5y ago. >2.5y ago 0.25 coin to 1 coin. But this is AFTER we have mined the coins. I can mine them with 5 TH/S 24/7 for 6 months., I have spoken to big miners of Zurcoin and they would also agree this is the best. But I am leaving this decision to you. I will never take it myself. On potential benefit is to a lesser extent we could open the swap up to Quaek community and capture them. They are suffocating due to the greedy Chinese miners. Those miners are evil.

No need to thank me for the work, it is a privilege someone like you who had the foresight and knowledge to build a blockchain let me play this part honestly.


From Zurcoin Developer to DMH:

i disagree (very much!)

it is very unfair to penalize people who didn’t move coins…

they are actually the most loyal holders. if you think about it.

and people not always looking in forums and they might miss opportunity for a swap.

for me i own an undisclosed amount ( but not enough for unfairly controlling or crashing the market). and i hold in cold storage. i don’t want to move them and then will need to create a new backups and risk a blockchain reorder or other bugs…

did you know that even the bitcoin protocol prefers transactions of coins inputs that were held for longer ?

“The priority of a transaction is calculated as the sum of the value and age of the inputs divided by the total size of the transaction:

Priority = Sum (Value of input * Input Age) / Transaction Size”

some of the big holders are probably miners who mined or bought zur when it was worth nothing. and kept the chain running (sometimes by themselves alone).

would you penalize satoshi nakamoto for not moving his coins ? and for the sake of controlling most bitcoins ?

your suggestion would be same as premine. to create another chain and do a swap just for the sake of controlling majority of the supply. and your chain will also get raped by chinese miners as long as there is mining rewards.

you can avoid pumping and accumulate over time. or not pump anything at all…

and why to care if more miners join or not ? their choice. and there is a long time until next reward halving (now its 10.5 per block).

any profitable coin will get suffocated by chinese miners. and can’t blame them, if they get almost free hardware+electricity+infrastructure ?

isn’t it true decentralization you talked about, that you don’t know who controls the supply, and coins are actually spread around ?

you compare to Coeval, which is 100% premined and bought by few ICO investors/pumpers who cared only for profits (buy low, hype, pump, sell high, move on and forget coin kind of investors) ?

some zur holders will never sell… or at least will not want to depart most of their supply.

From DMH to Zurcoin Developer:

Thank you for making this argument so eloquently.

It was as much a pleasure to read it.

You are probably right. And I am not worried about however many coins you hold — of course you would never crash the price. Not with the chain representing what it does to you. I know that. And not with you being its creator either. Of course not. Moreover, you are just not that way inclined.

Fine — in that case I shall go ahead and put this coin on Huobi, on Bancor, on Bittrex, on Escodex, on Instant Bitex and on every single exchange in the world then. Further, I shall put Early Temple software on top of the protocol and begin to complete the counterparty application.

The way I will work it is slightly different. It’s much better — I made it up. So with this way you will escrow a sum of coins when you make a token on Zurcoin blockchain. You will therefore put for example, 500,000 coins in an escrow wallet. Then you can make the token. The token will always be limited life (ie you must specify an end date). Buyers of the token on the Counterparty protocol will be able to hold the tokens and receive the underlying Zurcoins once the token’s expiry date is reached, by the protocol manager (that’s us) gaining access to the coins and holding the swap in. This will essentially have the same effect that proof of stake does in tying coins up in master nodes except it is much better, as only tokens, and not new coins, are produced while the Zurcoin is escrowed.

Watch — this coin will become more valuable than Bitcoin. I remember telling you it would one day, and I am going to be proven right on this.

From Zurcoin Dev to DMH:

what if escrow of contract die/leave/on vacation ?

this stuff should be completely automatic (i still didn’t check how earlytemple work).

no man…. bitcoin is king. no other coin is comparable to the original. i believe is not like facebook vs myspace comparison. all improved tech chains after bitcoin are about 5+ years late. non of them is fairly launched/mined/premined.

maybe i’m wrong but i believe bitcoin is the best. and long-term will not ‘die’. it might crash for long periods of time. it could and still can save us from financial tyranny.. ?

will chinese miners be able to crash it in 20+ years ? (after few more reward halvings…)

From DMH to Zurcoin Dev:


No manual process, no premine, no people-power (except for the people power inherent in decentralisation.)

I’ll automate it. That’s a bitch and I am only doing it because you asked me to. But that’s the guarantee. Automated. Fine.

ET was developed by an extraordinarily talented dev pre-Ethereum. You won’t have heard of it. I meet a lot of people, look for a lot of weird stuff, find it, use it. That’s half the fun.

Bitcoin? Come on, Zurcoin! ;)




Read all about Blockchain Technology, Cryptocurrency, ICOs and updates on Crypto world! Running an ICO? Publish Press Releases here!

Recommended from Medium

Measuring up Icon’s Balanced (BALN) Versus the Competition

🚨 Elders Seek Memeologist Prime 🚨

The Endless Possibilities ETFs Bring

Whale alert — crypto user moves $1.1B in Bitcoin

ARPA × BitUniverse Global Grid Trading Contest — 131,900ARPA to be Won!


CoinRequest on Flux!


Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Daniel Mark Harrison

Daniel Mark Harrison

E-Mail me at

More from Medium

KDG-KDC Swapping Guide (with FANTOO Wallet)

XHR v/s Fetch

How to buy Defido Coin $BASE

Are “Smart Contracts” Contracts?