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How to download your MyNeuCoin “Wallet Backup” PDF and use your private key to access your NeuCoins from a desktop qt client

How to download your MyNeuCoin “Wallet Backup” PDF

1. Log in to http://www.myneucoin.com using the email adress and password that you registered your account with. Click “Download your wallet backup” to download a PDF with your public and private key.

How to use your private key to access a former MyNeuCoin wallet from a desktop qt client

1. Log in to your account on http://www.myneucoin.com and download a PDF with your public and private key.

2. Download the “neucoin-qt” desktop client, version 1.2.0 from https://github.com/NeuCoin/neucoin/releases and install it on your computer.

3. Launch the “neucoin-qt” client.

Wait for the client to synchronized with the NeuCoin blockchain (the first time, this will take hours or even days).

Once the client is fully launched and synched, in the top menu click “Help”, then click "Debug window.”

4. A new window will open. Click “Console”.

5. The screen will switch to the below view.

In the entry field at the bottom, type in the “wallet private key” from your MyNeuCoin Wallet Backup PDF:

importprivkey [private key] [label]

and hit enter.

Don't actually type the brackets, and use whatever word you want in place of "label" in order to give your NEU address a name that will show up in your qt interface.

Next, wait for the whole blockchain to reindex your transactions (this can take a long while). Once it’s done, you now have access to your NeuCoin wallet from this qt client. You will see all your past transactions and be able to transfer NEU in and out.

Growth Accounts on MyNeuCoin discontinued as of Dec 4, 2016

As of December 4, 2016, Growth Accounts on MyNeuCoin were terminated (for details see our previous post http://blog.neucoin.org/post/153643496591/neucoin-project-update-foundation-to-cease)

Within the next 24 hours, all deposits that were placed in Growth Accounts will be returned along with accrued Rewards through the termination date to the Growth Account holders’ MyNeuCoin accounts.

Growth Account Rewards will be calculated as follows: the number of NEU deposited in the Growth Account TIMES the number of days the Growth Account was active TIMES 0.5%. This formula gives all GA-holders, regardless of which type of GA they had created, a premium over the original rates.

NeuCoin Project update: Foundation to cease supporting NeuCoin services, destroy its remaining coins and dissolve itself

Nearly 3 years after the NeuCoin Project was born, the founding team and the NeuCoin Growth Foundation have concluded that the Project’s plan to create a leading consumer-driven digital currency based on the premise of distributing tokens to all participants that help drive growth and adoption -- consumers, service providers, distribution partners, miners, developers, etc -- has proven unfeasible, at least with the current team, structure and resources.

The cryptocurrency community showed lower support than expected to the Project as evidenced by the lack of value and trading volume of NeuCoin on the exchanges, but an even greater challenge proved to be the significant fraud associated with the “freemium” model of distributing tokens. As a result:

The Foundation has been unable to strike the necessary distribution partnerships, as partners are not interested in working with a cryptocurrency that has very little value, volume or community involvement. The Project’s most recent release - the Facebook game SongQuest, a pilot aimed at demonstrating how NEU distribution can benefit third-party game publisher partners - has not performed in a way so that it can serve as a blueprint for any meaningful distribution partnerships.

The Foundation has not been able to sell sufficient NeuCoin tokens to continue operating its services, nor to fund continued development, marketing, infrastructure, site maintenance or user support, nor to handle the future enforcement of sale-restricted NeuCoins and distribution as they come unrestricted.

Given these challenges and lack of financing, the NeuCoin Growth Foundation has made the decision to cease supporting all of its services, hand over consumer distribution vehicles to partner Jango.com, destroy all of its remaining NeuCoin holdings and dissolve itself -- according to the following schedule:

Growth Accounts on MyNeuCoin will be terminated shortly, as soon as next week. All deposits that were placed in Growth Accounts will be returned along with accrued Rewards through the termination date to the Growth Account holders’ MyNeuCoin accounts. Growth Account Rewards will be calculated as follows: the number of NEU deposited in the Growth Account TIMES the number of days the Growth Account was active TIMES 0.5%. This formula gives all GA-holders, regardless of which type of GA they had created, a premium over the original rates.

The GetNeuCoin website, the NeuCoin Forum and all user support services will be shut down in the near future.

The MyNeuCoin online wallet will be shut down in the next several months, but no sooner than one month from now. For the six months after the MyNeuCoin service is terminated, account holders will still be able to use their account credentials (email and password) to log in and obtain the private keys to their NeuCoin holdings. They will be able to use these private keys along with a downloadable wallet to access their NeuCoins.

Within the next several months (but no sooner than 1 week from now) 50% of all sale-restricted NeuCoins, all of which are held in trust by the Foundation, will be destroyed; the remaining 50% will be released to their owners as unrestricted NeuCoins. This is necessary because with the Foundation dissolved, there will be no future entity to enforce the sales restrictions. Destroying 50% and releasing 50% without restrictions was deemed as the most fair to both restricted NEU holders and non-restricted NEU holders.

In order for some entity with technical resources to support NeuCoin’s continued consumer distribution, a longer-term partnership has been established with existing distribution partner Jango.com. The Foundation will transfer 300M Neu to the Jango team (excluding Dan Kaufman, who has not had any role or ownership in Jango since 2013) as follows: a) 200M as compensation for NeuCoin tipping platform implementation and user acquisition over 2015 and 2016; for continuing to distribute NEU to Jango users and other consumers; and for continuing to maintain the NeuCoin.org website, blockchain explorer and source code publication on Github; b) 100M to be used for distribution to consumers.

After all of the above has been completed, the Foundation will destroy all of its remaining NeuCoins and dissolve itself. At this point, NeuCoin will be entirely decentralized with a total supply of NeuCoins equalling approximately 1.5 billion, all of which will be unrestricted.

To everyone who has supported NeuCoin over the past years, the founding team is truly sorry that the Project’s ambitious overall strategy and consumer product releases did not work out as planned. We have worked extremely hard on what we believed could break cryptocurrency into the mainstream, investing years of time and nearly $1 million of our own capital. We very much regret this disappointing outcome for everyone involved.

In any event, NeuCoin will continue to exist going forward as a fully decentralized cryptocurrency with a much lower coin supply. In an optimistic scenario, the Jango team might be able to solve the problems with freemium distribution. We all hope for this outcome that could lead to widespread consumer adoption of NeuCoin and the development of an organic ecosystem.

NeuCoin Project Update - SongQuest game released; difficult conditions persist

SongQuest - the second NeuCoin-integrated game pilot aimed at demonstrating how a few “freemium” NEU can be distributed to mainstream consumers in a way that also benefits game publisher partners - was just released.

SongQuest is a “name-that-tune” type of music trivia game (a broad appeal, popular genre with millions of players) in which players listen to music clips and race to guess the name of the song or artist. Choosing from several genres and nearly 1,000 playlists, players can play against the clock in solo mode, against strangers in tournaments, or challenge their Facebook friends to play against each other for specific playlists. Players can earn NeuCoins by winning tournaments and solo challenges.

Click here to play SongQuest on Facebook now.

The launch of SongQuest could be a game-changer to the NeuCoin Project if the game is successful AND fraud is contained -- so that it can serve as a blueprint for partnering with successful third-party games. However, the project team acknowledges that NeuCoin continues to face two major challenges that were discussed in our previous update:

1. Freemium distribution has been found to incite high levels of fraud, which creates selling pressure from fraudsters, hinders strategic partnerships and drains significant amounts of time, money and resources from other, more useful projects. The NeuCoin Project’s first pilot game - Solitaire Racer - has been particularly plagued by fraud and attacks from bot networks and click farms. Based on this experience and learnings from Jango (which has been better able to contain fraud), SongQuest was re-designed midstream during its development with the express purpose of minimizing its susceptibility to fraud.

2. The crypto-community has largely rejected NeuCoin’s marketing-driven strategy - as evidenced by the lack of trading volume of NeuCoin (often less than $50/day over the past several months). Without at least a modicum of support while trying to grow adoption and build utility, the Project is faced with the following issues:

Foundations can’t sell coins to fund continued development, marketing, infrastructure, site maintenance and user support

Partners are less interested in working with a cryptocurrency that has very little value, volume or community involvement

Given these difficult conditions, the NeuCoin Growth Foundation is considering various strategic options to completely decentralize the NeuCoin cryptocurrency and make it entirely community-driven, while still allowing for continued distribution to mainstream consumers, most notably the following:

Dissolving the NeuCoin Growth Foundation, eliminating all Foundation-held NeuCoins (thereby significantly decreasing coin supply), and ceasing development, maintenance and support of the foundation’s infrastructural and consumer services, including the MyNeuCoin online wallet and the Growth Account consumer mining service.

Establishing a longer-term partnership with Jango (and/or a third-party game developer, in the event that SongQuest is successful), so that some entity with technical resources can continue to support NeuCoin and keep growing its user base.

In the next month or two we will update the NeuCoin community on the progress made by SongQuest as well as any strategic decisions made by the NeuCoin Growth Foundation.

NeuCoin Project update: acknowledging some major headwinds

All of our previous posts expressed the optimism that the NeuCoin team felt about the NeuCoin Project and the progress that had been achieved. Unfortunately, over the past couple of months the Project has not advanced as hoped and this post reflects our current realistic assessment. Bottom line, the Project has struggled to overcome two major challenges:

1. Freemium distribution has been found to incite high levels of seemingly intractable fraud, which not only makes widespread adoption difficult, but also drains significant resources and hinders partnerships

2. The crypto-community has largely rejected NeuCoin’s marketing-driven strategy - and without at least a modicum of support while adoption builds and utility develops - both distribution and utility development become hard to fund and achieve

Fraud poses a major challenge to freemium distribution

NeuCoin was built on the idea that it could reach mass adoption by distributing small amounts of tokens to consumers in exchange for interacting with and learning about NeuCoin. Hence, over the past year, the NeuCoin foundations have launched and marketed a variety of freemium distribution programs, services and partnerships:

Surveys, questionnaires, and feedback programs

The GetNeuCoin tutorial-game

The NeuCoin-integrated Facebook game Solitaire Racer

A tipping and user reward program with Jango, a free music site with 7M monthly users

All of these services and programs did accomplish significant mainstream distribution in exchange for consumer engagement with NeuCoin, particularly the Jango partnership. However, the programs all also faced increasingly serious issues with fraudulent activity, or more specifically, with individuals or companies creating thousands of fake accounts in order to obtain NeuCoin awards. Initially, perpetrators appeared to be using cheap labor in southeast Asia, but over time, they came to utilize bot networks, click farms and stolen bandwidth.

The NeuCoin team, as well as our partners operating Solitaire Racer and Jango, have been playing cat-and-mouse games with the fraudsters, draining significant amounts of time, money and resources from other, more useful projects. As many of you know individually from trying to claim NeuCoin rewards at MyNeuCoin, the measures taken to combat fraud sometimes entailed worsening the user experience for honest participants. At times, the services can be buggy and the server and database loads brought on by fraud perpetrators actually cause website downtime. There is also the collateral damage done by fraudsters who immediately sell all their ill-gotten NeuCoins on exchanges, driving down the price which damages overall perception of the project. Worst of all, after months of effort neither we nor our partners have been able to stamp out this fraud, which is undermining the rationale for distribution partners to work with NeuCoin.

Solitaire Racer, being a simple Facebook game without dedicated, ongoing tech resources, may need to be abandoned due to the time and resources that would otherwise be needed to keep it from being a major fraud leak. This also has implications for the upcoming SongQuest game, which may be significantly delayed or initially launched with very limited NeuCoin integration as a result of those fraud problems at Solitaire Racer. Fortunately, the fraud problems at Jango are less severe and Jango has significantly more tech resources to combat them, so Jango is still working to find the right solution.

While the NeuCoin team always anticipated some degree of fraud, we failed to imagine it at this scale and level of sophistication, and severely underestimated the amount of resources and constant vigilance it would take to keep these programs up and running.

Lack of crypto-community support makes funding and execution of plan difficult

By the end of 2015, the NeuCoin Project had successfully launched the core services described in its strategic plan and technical white paper, which would lay the foundation for reaching mass adoption. During early 2016, the Solitaire Racer and Jango distribution partnerships showed considerable progress. The NeuCoin team had hoped that reaching these milestones would cause the cryptocurrency community to broadly support NeuCoin - which would be reflected in the trading volume and price of NeuCoin. Unfortunately, this did not happen (in fact, it was the reverse that happened). We can only speculate as to why NeuCoin received less support than a hundred other altcoins, but perhaps the wider crypto-community simply could not support or even countenance a consumer-oriented cryptocurrency project led by industry outsiders that put marketing ahead of technology.

Regardless of the reasons for it, NeuCoin is suffering without support from the crypto-community:

Foundations can’t sell coins to fund development and marketing

Partners are less interested in working with a cryptocurrency that has very little value or community support

Team and community members can become discouraged

All these negative factors tend to reinforce each other

In hindsight, misreading the psychology of the crypto-community may have been the NeuCoin team’s single biggest mistake.

Where things stand

As mentioned above, the Jango team is still working to solve the consumer fraud issues. If they’re successful, then Jango still hopes to deliver over 1 million non-fraudulent users over the next year. If that effort succeeds, then the NeuCoin team will attempt to add other distribution partners as well as forge partnerships with companies that will want to offer ways for the million+ NeuCoin holders to use their NeuCoins. We still think this could work.

To everyone who has supported NeuCoin, we are truly sorry that the project has not been more successful. (And so you know - the founding team invested more money in the project than any outsiders, not to mention the years spent working on NeuCoin). All that said, we haven’t given up hope and are still trying to bring about a positive outcome in the long run.

New interview about NeuCoin’s user numbers and consumer growth strategy

Here's another recent interview, this time in Bitcoinist, that explains in more detail NeuCoin’s view on growth and user numbers, the challenge of fraud and how major distribution partnerships must be optimized in order for “freemium” to be effective.

Read Evan Faggart’s interview and full story on http://bitcoinist.net/neucoin-destroy-coins-projects/

Tell us a little bit about NeuCoin’s main goals, what does this project hope to accomplish in the long-run?

Very simply, we hope to be the first cryptocurrency that is held by tens of millions of mainstream consumers. NeuCoin was created for this single purpose by a team who have previously started several consumer services that reached this kind of scale. Once we reach our user adoption goals, we are excited to see what kind of ecosystem will develop around a massive community of mainstream users.

You’ve been seeing quite a bit of growth lately, want to tell us about that?

Sure! Three months after launching our first consumer apps, we’ve hit 300,000 users – and the growth rate is now over 250,000 new users per month. We have experimented with many different ways of distributing a few free NeuCoins to users and we’ve learned a lot from this. The biggest lesson is that fraud is a massive challenge. We also think we’ve arrived at the “magic formula” for NeuCoin to quickly reach many millions of users – partner with big media sites who can give their users one or two NeuCoins per day as a loyalty/retention tool. This is what NeuCoin has done with Jango and it’s acquiring nearly 8,000 users PER DAY for NeuCoin.

Some critics have argued that these aren’t “active” users, or even “real” users compared to holders of Bitcoin, Ethereum, Ripple, Litecoin, Dash, etc, as in they don’t know exactly how cryptocurrency works or they’re not sending their NeuCoins around or trading them on Bittrex. We accept the critics’ argument here. NeuCoin users for the most part didn’t pay for their coins or mine them. And most NeuCoin users aren’t fixated on their market value, and don’t trade them back and forth on crypto exchanges.

But to us, that’s the point. NeuCoin is just this fun, easy online token held by a ton of regular consumers who don’t necessarily care about cryptocurrency — yet. To them, NeuCoin is just this internet token that appears in a game they like playing or a music site they like using, and with very little effort they have a balance. Right now they can use the token in a game or tip them to artists. Earn some more by winning a round. Soon there’s another game they can use the same token. Once there are millions of users, there will be more and more things they can do with them. It’s all about size and network effect.

You mentioned in your email to us that you’re planning on reducing the supply of NeuCoins by 50% over the course of 3 years. How do you plan on accomplishing that goal? Do current NeuCoin users have to worry about losing their coins?

No user have to worry about their coins getting lost! What’s happening is the NeuCoin Foundation will destroy 2.2 billion of the 3.2 billion coins that it holds. And this will actually happen in the next few weeks, not over the course of the next three years (though long term the total supply will be as low as 10 billion rather than 100 billion as previously projected, due to less proportional mining by the foundation). In NeuCoin (like in Peercoin) all coins spent as transaction fees are destroyed rather than given to miners. Hence, the technical method by which the coins will be destroyed is through transactions made by the NeuCoin Foundation that are accorded massive transaction fees. The transactions and destroyed coins will be clearly visible on the NeuCoin blockchain.

Bitcoinist reported on your Solitaire Racer and Jango Internet Radio projects a few months ago. How have those things been going, have they done as well as you expected?

Solitaire Racer is doing fine. It has 80,000 users over three months which is good, though not out of the park. But it has been a great learning experience. The Jango partnership has been the home run. Jango has not only been generating 8,000 new NeuCoin users per day – but more importantly – it is proving out the model for how NeuCoin will be able to partner with other large media sites. By giving their users free NeuCoins, the partner sites get increased conversion and retention rates. And NeuCoin captures the partner’s user base.

Any more big changes or projects you’d like to tell us about?

Well, we’re hard at work on NeuCoin’s second Facebook game, called SongQuest. This is a music trivia game, so will hopefully play well to the hundreds of thousands of Jango listeners who already hold NeuCoins.

But the most important “big project” over the next few months is to keep growing the user base at a quarter million a month through the Jango partnership. Meanwhile, this program is being optimized to give Jango even higher lifts to their user conversion and retention rates. This will help us bring on other distribution partners, who will want to see a solid case for how NeuCoin integration helps them, getting their users to sign up, and come back to their site more often.

Looking further out, after we have another 2 or 3 major distribution partners and are marching towards 10 million users, the focus will shift to supporting the development of the NeuCoin ecosystem. Assuming that we can build up a mass market of NeuCoin holders, we have no doubt that all kinds of companies will start offering them all kinds of products and services.

Read Evan Faggart’s interview and full story on http://bitcoinist.net/neucoin-destroy-coins-projects/

Fostering Crypto Engagement Through Gamification - New Analysis in BTC Manager

New feature in BTC Manager about how NeuCoin gamifies cryptocurrency for mainstream users:

“NeuCoin was designed to serve as a fun, easy online token held by a ton of regular consumers who don’t necessarily care about the larger world of cryptocurrencies, at least not yet. To them, NeuCoin is simply an internet token that appears in a game they like playing or a music site they like using, with little effort needed to accumulate a balance. NeuCoin just integrated the popular Facebook game Solitaire Racer, as well as a robust tipping and reward program through Jango, which has over 7 million monthly users. And integration with a second Facebook game, Song Quest, is in the works. All of this is designed to further feed the gamification of NeuCoin by placing small amounts of tokens in the hands of millions of regular users through games, entertainment, and social media.”

Read the rest of Michael Scott’s article on https://btcmanager.com/news/business/neucoin-fostering-crypto-engagement-through-gamification/

CryptoCoinsNews: “NeuCoin Gaining 8,000 Users a Day; Will Halve Supply to a Billion Coins”

Great new article in Crypto Coins News about NeuCoin’s user growth and consumer distribution strategy:

“NeuCoin, known as the “2nd Generation Peercoin Fork,” says it has reached over 275,000 users three months after launching its consumer apps and is acquiring more than 8,000 users a day, on track to acquire 2 million users by year-end 2016. The company also announced it will eliminate half of its coin supply and complete consumer distribution in three years. NeuCoin believes mass user adoption can be achieved faster and with fewer tokens distributed than expected”...

Read the rest of Elliot Maras’ article on https://www.cryptocoinsnews.com/neucoin-gaining-8000-users-a-day-will-halve-supply-to-a-billion-coins/

NeuCoin to eliminate 50% of coin supply and complete consumer distribution within three years

Three months after launch of its first consumer apps, NeuCoin has reached over 275,000 users and is growing at over 8,000 users a day, on track to acquire 2 million users by year-end 2016.

The NeuCoin foundations have determined that mass user adoption can be reached faster and with fewer tokens distributed than expected; therefore, to maximize NeuCoin’s value, the foundations’ holdings will be cut from 3.2B to 1B in the next several weeks by destroying 2.2B coins, decreasing the entire coin supply by 50%. A revised mining participation forecast puts expected total supply in 10 years at 10B rather than 100B as previously projected.

NeuCoin’s founding principle was distribution of the cryptocurrency to all participants in proportion to the value and utility they add. Over the past year, the NeuCoin foundations have distributed tokens in numerous ways:

Surveys, questionnaires, feedback programs and referral bonuses

Sale-restricted NeuCoins to the founding team, angel investors, service providers and strategic partners

A presale to the crypto-community in exchange for Bitcoin

Proof-of-stake and proof-of-work mining rewards

The GetNeuCoin tutorial-game and Growth Accounts at MyNeuCoin

The NeuCoin-integrated Facebook game Solitaire Racer

A tipping and user reward program with Jango, a free music site with 7M monthly users

This wide-ranging experience in distributing a cryptocurrency has taught NeuCoin valuable lessons:

Consumer fraud is a massive challenge! To combat fraud, user rewards must be small and even then require significant amounts of time to earn.

The clearest path to mass adoption is to partner with successful online services who would like to reward their users with NeuCoins for utilizing their service - like a loyalty point program. NeuCoin has implemented this type of program with Jango and is currently optimizing it in preparation for rolling it out with other large partners.

Important crypto ecosystem partners such as exchanges, payment processors, crypto-gambling services, etc. need to see a large NeuCoin user base, but don’t need to be given large NeuCoin bounties themselves.

In addition, over the past six months, members of the crypto community have raised two main critiques of NeuCoin’s design that the NeuCoin team and foundations consider valid:

Overall coin supply and future growth are too high

Foundations own too much of the total coin supply for too long

Given all of the above, the NeuCoin foundations recently made several strategic decisions that are intended to increase the value of the cryptocurrency as well as accelerate its effective decentralization:

First and foremost, given the learnings that fewer coins need to be distributed per person to consumers, and that ecosystem partners do not require large rewards, the foundations will destroy 70% of their NeuCoin holdings. This cuts the current total coin supply by roughly 50% to 2B and cuts the projected coin supply in 10 years time to 10B (due to much lower projected proof-of-stake mining participation by consumers relative to the foundation’s 100% mining rate).

Second, user acquisition will be accelerated. Given the smaller number of foundation coins and the efficiency of NeuCoin’s simplified partner distribution program, the foundation will aim to distribute its holdings to consumers in 3 years rather than 10.

Third, given the sharpened focus on distributing foundation holdings almost entirely to consumers, the decision was made to merge the three NeuCoin foundations into one - the NeuCoin Growth Foundation.

Lastly, in order to offset their increased percentage ownership of the total coin supply, the NeuCoin founders will forfeit the 200M of NeuCoins they were to receive during the second and third year after launch, and all restricted coins held by NeuCoin founders, team, angel and seed investors will have their sales restrictions lengthened from 5 to 10 years.

For more information about the NeuCoin Project, please see:

NeuCoin.org, including Strategic Plan (currently being updated) and White Paper

Source code and mining resources on Github

MyNeuCoin, a consumer-friendly online wallet

GetNeuCoin, an onboarding quiz for mainstream users

Solitaire Racer, a NeuCoin-integrated game on Facebook

Tipping platform and user reward program on Jango Internet Radio

Blockchain Explorer and Distribution Reviews

Exchange listing on Bittrex

Over 275,000 users 3 months after launch of consumer apps

NeuCoin is making headway on its path to widespread consumer adoption.

The multiplayer casual game Solitaire Racer on Facebook continues to grow and has now acquired over 80,000 NeuCoin users. There are several improvements being made to the game; when they are complete in the next two months, marketing will be accelerated. As well, NeuCoin’s second Facebook game, SongQuest, is in alpha testing and scheduled for public release by May.

Meanwhile, over on the tipping platform at Jango Internet Radio, over 30,000 listeners have tipped NeuCoin to more than 25,000 emerging artists.

But the BIG news is that Jango recently began rewarding their users with 1 to 2 NEU per day just for coming back to Jango and listening to music. After the user accumulates 50 NEU, he/she can transfer them to an account at MyNeuCoin or elsewhere. In little more than three weeks, NeuCoin has acquired over 150,000 additional users from this program.

This is big for two reasons. First, it tells us that Jango alone is going to be able to deliver close to 2 million users to NeuCoin in 2016. Even more important, we believe this will be the model for other large-scale NeuCoin distribution partnerships. In the coming months, NeuCoin will optimize the program with Jango to create a compelling case study that shows how a NeuCoin distribution partnership can increase signup and retention rates for other high-profile consumer services with large existing user bases.

Stay tuned for further developments.

For more information about the NeuCoin Project, please see:

NeuCoin.org, including Strategic Plan and White Paper

NeuCoin blog, with the latest on user growth and strategic partnerships

Source code and mining resources on Github

Blockchain Explorer and Distribution Reviews

MyNeuCoin, a consumer-friendly online wallet

GetNeuCoin, an onboarding quiz for mainstream users

Solitaire Racer, a NeuCoin-integrated game on Facebook

Tipping platform and freemium distribution on Jango Internet Radio

Exchange listing on Bittrex

NeuCoin switching to pure Proof-of-Stake on or around February 23, 2016

NeuCoin’s founding principle was that distribution of the cryptocurrency should be to all participants in proportion to the value and utility they add to NeuCoin. Please see the Strategy section of NeuCoin’s Strategic Plan for more information about its distribution model.

This growth-driven distribution model, as well as NeuCoin’s security, are entirely driven by proof-of-stake mining. Please see the Technology & Economics section of NeuCoin’s Strategic Plan, as well as NeuCoin’s Technical White Paper for detailed information about how NeuCoin’s proof-of-stake design provides a similar level of security to proof-of-work designs. Still, NeuCoin’s original design also called for issuing 5 million NeuCoins per month as proof-of-work mining awards for the first 12 months following launch. The sole purpose of this limited PoW component was to engage the large existing PoW mining community, who would in theory become active PoS miners and long-term supporters of the NeuCoin Project. The NeuCoin Code Foundation has come to the conclusion that switching to a pure PoS design sooner would best serve existing NeuCoin holders. The Foundation believes that issuing NeuCoins to PoW miners is resulting in steady selling pressure on NeuCoin without a sufficient compensating benefit of growing the supportive community of long-term NeuCoin holders. Therefore, the NeuCoin Code Foundation has decided to switch to a pure PoS design at Block 237,000, which is expected on or around February 23, 2016, at which time no further PoW rewards will be issued. All PoS miners and users running clients should update to the latest version, which will be published on Github and NeuCoin.org.

For more information about the NeuCoin Project, please see:

NeuCoin.org, including Strategic Plan and White Paper

Source code and mining resources on Github

MyNeuCoin, a consumer-friendly online wallet

GetNeuCoin, an onboarding quiz for mainstream users

Solitaire Racer, a NeuCoin-integrated game on Facebook

Tipping platform on Jango Internet Radio

Blockchain Explorer and Distribution Reviews

Exchange listing on Bittrex

Distribution Plan 2015-2016 , including info on sale restrictions for angels & team

Product and Marketing Roadmap

Over 50,000 users 4 weeks after launch of consumer apps

Here’s a brief update on user growth since the launch of NeuCoin’s first two consumer applications 4 weeks ago.

The multiplayer casual game Solitaire Racer on Facebook has already acquired over 25,000 NeuCoin users, increasing by 1,000+ users per day.

On Jango Internet Radio, over 21,000 listeners have tipped NeuCoin to almost 9,000 emerging artists.

Some but not all of these new users have created wallets at MyNeuCoin, which now counts over 27,000 accounts.

To learn more about how consumers can earn NeuCoins by playing games and tipping, see NeuCoin.org/earn.

Or, you can just go play Solitaire Racer or start tipping bands on Jango!

For more information about the NeuCoin Project, please see:

NeuCoin.org, including Strategic Plan and White Paper

Source code and mining resources on Github

MyNeuCoin, a consumer-friendly online wallet

GetNeuCoin, an onboarding quiz for mainstream users

Solitaire Racer, a NeuCoin-integrated game on Facebook

Tipping platform on Jango Internet Radio

Blockchain Explorer and first Distribution Review

Exchange listing on Bittrex

Distribution Plan 2015-2016 , including info on sale restrictions for angels & team

Product and Marketing Roadmap

Now Live! Tipping Platform & First Game - Already Acquiring 1000+ Users A Day

Exciting news, everyone! The artist tipping platform on Jango Internet Radio and the multiplayer Facebook game SOLITAIRE RACER are live and have started acquiring users. Check out how NeuCoin is reaching mainstream users and earn some NEU for yourself!

On Solitaire Racer, players are earning NEU by completing decks, beating opponents and winning tournaments. By marketing to the tens of millions of players of other Solitaire games, we expect to acquire at least 500,000 NeuCoin holders over 2016.

On Jango Internet Radio, listeners are already being sponsored with NEU to tip 250,000 participating artists. Based on marketing plans and current user-artist interaction rates, we project that 500,000 Jango listeners will tip out a total of 50 million NEU to over 100,000 artists over 2016.

These are just the first of many games and content partnerships that NeuCoin will be rolling out over 2016. Our base goal is at least 1 million NeuCoin users in 12 months - but we hope for many times that.

To learn more about how consumers can earn NeuCoins by playing games and tipping, see NeuCoin.org/earn. Or, you can just go play Solitaire Racer1 or start tipping bands on Jango!

Avanti!

/The NeuCoin Project Team

PS. See previous post below for an outline of the strategy behind it all... how to make crypto fun and available to mainstream users - who have never used crypto before - so that adoption can grow really fast.

First Facebook Game and Tipping Platform on Jango Launching in 2 Weeks!

Here’s an update on the launch of NeuCoin’s first major consumer use and distribution cases: the artist tipping platform on Jango Internet Radio and the multiplayer Facebook game SOLITAIRE RACER - both set for initial release in the next 2 weeks.

Kickstarting NeuCoin Tipping - Millions of Jango Listeners Tipping Tens of Thousands of Participating Artists

On Jango.com, 7 million monthly users listen to custom playlists of their favorite music and also get to discover and interact with 250,000 emerging artists matching their musical taste. The NeuCoin Growth Foundation is giving all registered Jango listeners 25 NEU to tip their 5 favorite emerging artists as a start. Once listeners have tipped out their 25, they will get 25 more as a reward for themselves plus another batch to keep tipping artists. The tipped artists will be able to use the NeuCoin they receive to gain even greater exposure on Jango and other promotional benefits. Based on marketing plans and current interaction rates between listeners and artists on Jango, NeuCoin projects that 500,000 Jango listeners will tip out a total of 50 million NEU to over 100,000 artists over 2016. What’s more, artists will also be given promotional tools to solicit NeuCoin tips from their fan bases outside of Jango - where fans can both tip NEU directly and get some free NEU by playing SOLITAIRE RACER, the GetNeuCoin game-quiz and other games coming soon. This program will give NeuCoin’s “freemium” tipping platform momentum and demonstrate to all kinds of content creators how they can benefit from promoting TIP/GET NeuCoin modules on their websites and social media. Look out for more distribution partnerships with media publishers and user-generated content aggregators.

Solitaire Racer on Facebook - The First of Many NeuCoin Integrated Premium Games Marketed to Mainstream Consumers

The multi-player Facebook game SOLITAIRE RACER will showcase how *any* game - starting with Solitaire, one of the most popular casual games of all time - can be made more appealing when players can win or bet virtual money in a game that they already like. Solo players will win NEU when completing decks: the faster they play, the more they win. Even more fun, rewarding (and viral), players can enter speed tournaments or race against each other in head-to-head matches against opponents who are dealt the exact same cards.

By marketing SOLITAIRE RACER to the tens of millions of players of other Solitaire games, NeuCoin expects to acquire at least 500,000 NeuCoin holders over 2016.

Next up after SOLITAIRE RACER will be a music trivia game (another super popular game category with many millions of players) already under development, followed by a wave of 3rd-party game publishers introducing NeuCoin-integrated versions of existing games with large user bases.

With both SOLITAIRE RACER and the artist tipping platform on Jango, consumers earn NeuCoins by investing their time and attention. These programs are analogous to proof-of-work miners earning Bitcoin by investing computing power - only regular consumers can participate and earn rewards for doing something they enjoy.

This is the plan for NeuCoin’s first 1 million mainstream users. Many more to come.

2nd Distribution Report Just Published

NEUCOIN DISTRIBUTION REVIEW

December 9, 2015

As of December 9, 2015, NeuCoin's total supply fell into these categories: Available 154,630,397 NEU Held by Foundations 2,701,395,605 NEU Restricted for use or sale 574,553,668 NEU TOTAL 3,430,579,671 NEU

Significant distribution items since the October 12, 2015, NeuCoin Distribution Review:

On November 26, 2015, 23,031,400 restricted NEU were awarded to Service Providers, including Exchanges, Strategic Advisors, Marketing Service companies and others, for services provided to the foundations from pre-launch through October 31, 2015. See details at the bottom of this report regarding the different recipients of these awards. All these restricted NEU were transferred to a wallet labeled “Service Providers #1”, which is included on the table of Restricted wallets at explorer.neucoin.org/overview.

The Service Provider #1 awards were financed as follows:

NeuCoin Growth Foundation: 3,034,000 NEU

NeuCoin Utility Foundation:19,997,400 NEU

Going forward, additional wallets for Service Providers will be created and reported on a quarterly basis. Hence, in approximately 3 months, the foundations will make a second set of Service Provider awards which will be held in a second restricted wallet called “Service Providers #2”. All of the Service Provider awards will be subject to the same 5 years sales restrictions (starting on the date that the Service Provider wallet was created) as all NeuCoins held by Angels and the NeuCoin Team.

On November 26, 2015, 2% of the “Service Providers #1” wallet (460,628 restricted NEU) became unrestricted and were transferred to the service providers and became part of Available Supply.

On October 23, 2015, 10,664,186 restricted NEU in the vault wallets for Seed Investors, Angel Investors and Team became unrestricted and were transferred to their respective owners (2% of the wallet balance on that date).

On November 30, 2015, 10,975,520 restricted NEU in the vault wallets for Seed Investors, Angel Investors and Team became unrestricted and were transferred to their respective owners (2% of the wallet balance on that date).

The NeuCoin Growth Foundation (NGF) distributed 4,755,280 unrestricted NEU to 2,536 community members for taking surveys prior to launch.

The NGF distributed 268,472 unrestricted NEU to users taking the first version of the GetNeuCoin quiz.

The NeuCoin Utility Foundation (NUF) distributed 287,500 unrestricted NEU to 87 community members as bounties for giving detailed and substantive technical feedback during testing of the NeuCoin Beta.

NeuCoins Held by Foundations

The foundations will distribute their NeuCoin endowment over time to reward and incentivize all participants who help increase NeuCoin’s utility and value. Some will be given directly to consumers so they can try out NeuCoin, or recruit others to try NeuCoin (these will be “available” at the time of distribution). Some will be awarded to service providers that make NeuCoin more valuable over time - these will have the same 5 year use and sale-restrictions as all other “restricted” NeuCoins. Some will be sold on exchanges with the proceeds used to increase the value and utility of NeuCoin - these will be immediately “available”. For more information about the foundations’ distribution of NeuCoins, please see NeuCoin’s Year One Distribution Plan and Product and Marketing Roadmap. The NeuCoin foundations will also publish quarterly distribution reports and provide details on material transactions. They will also report any sales of NeuCoin tokens on a monthly basis.

Note that all categories of NeuCoins will gradually increase from Proof-of-Stake mining, with rewards starting at a 100% a year in year 1 and gradually declining to 6% by year 10. For more information about NeuCoin’s PoS rates and economics, see detailed PoS rates, Technology & Economics Overview, and the NeuCoin Whitepaper.

Until distributed, all NeuCoin tokens owned by the foundations will be held in two types of publicly visible addresses whose transactions are verifiable on the NeuCoin blockchain:

Core Accounts This is the where the majority of each foundation’s endowment are held and mined.

Distribution Accounts These are intermediate addresses for near-term transactions; where foundations temporarily hold NeuCoins that are to be distributed to consumers, service providers, etc according to the Distribution Plan.

NeuCoin Growth Foundation

Core Account NdoQ1quvqEnkNMqtSzVhTKiLrbDuKQYQz6 Current balance: 1,540,359,286 NEU

Distribution Account #1 NUbJjdF5U4vDrZmAhjCDtsQ9cnWnfZBSkB Current balance: 33,907,833 NEU

Distribution Account #2 NR2uemGudkYbkeEvpX7CKHMzPMir5FS4ZS Current balance: 23,873,823 NEU

Total current holdings: 1,598,140,942 NEU NeuCoin Utility Foundation

Core Account NRm3zEZGHMFKeFiqQRPHBrAi667Z3ZG7jT Current balance: 860,202,493 NEU

Distribution Account #1 NachW2LivFyz7HockGuvGXW7wGp5Mfat7n Current balance: 0 NEU

Distribution Account #2 NVY3dkMwJx7DxhxRKFRFJPgqqEA3n1V7E8 Current balance: 15,002,599 NEU

Total current holdings: 875,205,093 NEU NeuCoin Code Foundation

Core Holdings Account NNxGqwonJnY2WADQRAuUyj9q433WWCS4SC Current balance: 218,049,569 NEU

Distribution Account NcojryM6S2WgZQg5udGHuBL4hCNExPQ5AE Current balance: 10,000,000 NEU

Total current holdings: 228,049,569 NEU

Restricted NeuCoins

All NeuCoins held by the NeuCoin team, seed and angel investors, and service providers, are restricted: subject to strict use and re-sale provisions for five years. Holders may only use or sell 2% of their restricted holdings (including any Proof-of-Stake rewards earned thereon) per month in the first year, 3% per month in year two, 4% per month in the year three, 5% per month in year four and 6% per month in year 5. After year 5, restrictions expire. Restricted NeuCoins are held and mined by the NeuCoin Utility Foundation in the following addresses:

Seed Investors NbToLL7P8GbN9uNfXxatjj3UQGtWVqnxdk Current balance: 110,288,663 NEU

Angel Investors NddwdSJ52ynU3knupStmjebfD67auQr4kp Current balance: 220,679,994 NEU

Team Nc6hgNNenc8TprJKktgewUKweA8wbsGr2q Current balance: 220,406,464 NEU

Service Providers #1 (pre-launch through Oct 31, 2015) NWRRRVzda2V4kzYx3mJc4uqDNWRaQYPtJ

Strategic Advisors, 12,000,000 NEU

Exchanges, 4,000,000 NEU

Design Services, 2,697,400 NEU

Marketing Services, 2,434,000 NEU

PR Services, 600,000 NEU

Community Services, 800,000 NEU

Legal & Financial Services 500,000 NEU

Total at wallet creation: 23,031,400 NEU Current balance: 23,178,546.535994 NEU

Total restricted NeuCoins: 574,553,668.752312 NEU At the end of each month, tokens that have come unrestricted will be transferred to their owners and become part of the available supply. That means that the above account balances will increase from PoS mining, and decrease from the monthly transfers of coins that have become unrestricted. All of the balances held in these addresses, along with the monthly transfers, are visible and easily verifiable on the blockchain at the above addresses. Illustration of how the re-sale restrictions work in practice Consider an angel investor who owns 1 million NeuCoin tokens on the day of launch. For the first month after launch, the angel cannot sell any NeuCoins; indeed the angel does not even have any access to the private keys for his/her tokens. During the month, assume the angel’s NeuCoins grow to 1.08 million due to POS rewards. At the end of the month, 2% of 1,080,000, or 21,600, would become unrestricted and sent to the address of the angel’s choice. At the beginning of month two, the angel has 1,058,400 restricted NeuCoins. During the month, assume this restricted coin balance grows 7.9% from POS rewards to approximately 1,142,000 coins. At the end of the second month, 2% of this balance, or 22,840 coins, become unrestricted, and will be sent to the angel’s address. And so on.

Available NeuCoins

All remaining NeuCoins - all that are not held by the NeuCoin Foundations and not subject to use and sale-restrictions - constitute the “available” supply of NeuCoins. The available supply includes:

NeuCoin tokens acquired through the presale in exchange for Bitcoin

100 million NeuCoin tokens

NeuCoins earned from Proof-of-Stake rewards by staking “available” NeuCoins

approximately 2 million NeuCoins as of now (not including accrued rewards in MyNeuCoin's Growth Accounts)

NeuCoins earned from Proof-of-Work rewards

approximately 11 million NeuCoins as of now (5M per month to be created for the first year following NeuCoin's launch)

NeuCoins distributed by the NeuCoin Growth Foundation to consumers in exchange for learning about or engaging with NeuCoin in some way

4,755,280 unrestricted NEU distributed to 2,536 community members for taking surveys prior to launch

268,472 unrestricted NEU distributed to people taking the initial version of the GetNeuCoin quiz

NeuCoins distributed by the NeuCoin Utility Foundation as bounties for technical feedback

287,500 unrestricted NEU distributed to 87 active community members as bounties for giving detailed and substantive feedback during testing of the NeuCoin Beta

Restricted NeuCoins that become unrestricted according to the schedule above

10,664,186 NEU became unrestricted on October 23, 2015, and were transferred to Seed Investors, Angel Investors and Team

10,975,520 NEU became unrestricted on November 30, 2015, and were transferred to Seed Investors, Angel Investors and Team

460,628 NEU became unrestricted on November 26, 2015, and were transferred to Service Providers (pre-launch up until October 31, 2015)

NeuCoins sold or made “available for sale” by the foundations

15 million NeuCoins were advanced after launch to multiple market makers whose roles are to provide liquidity and sell NeuCoins on exchanges over time to fund the foundations’ fiat expenses. All NeuCoin sales by market makers will be reported on a monthly basis. So far none have been sold, but the 15 million nevertheless count as “available” supply.

The NeuCoin foundations intend to sell approximately $1 million worth of NeuCoin tokens during the year following launch, which proceeds will cover the foundations’ baseline fiat expenses in the second year following launch.

At this current time, there are approximately 155 million NeuCoins available for use or sale.

Freemium user acquisition getting ready for takeoff

With the first Facebook game and the tipping platform on Jango.com both targeted for release in December, NeuCoin’s “freemium” user acquisition is about to take off.

In a matter of weeks, mainstream users will be able to win a few NeuCoins by playing a multiplayer game on Facebook. On Jango, music fans will have the chance to earn a few cents worth of NeuCoin for listening to music, tipping and helping to pick the best emerging musicians. Gamers, music fans and emerging musicians alike will all be able to earn more NeuCoins by recruiting more users to listen, tip and play.

This post details how “freemium” NeuCoins will not simply be given out for free - but rather earned by end users who invest time and attention, similar to how Bitcoins are earned by miners who invest computing power.

NeuCoin’s radical idea - distribution as a tool for mass adoption

NeuCoin’s vision is distribution to ALL who create value and utility - to massive numbers of end users, to service providers like exchanges and payment processors, and to content creators who accept NeuCoin as a means of micropayment, like game developers, musicians, photographers, writers, etc - along with the miners who secure the virtual currency.

This distribution approach offers a tremendous competitive advantage over virtual currencies like Bitcoin that are distributed only to miners, which are unable to encourage consumer adoption by giving users small numbers of tokens to easily try out.

The wrong way to distribute a virtual currency - for free, in exchange for nothing

Simply handing out free tokens, aka “airdrops,” whether to all the citizens in a country or the whole world, or to all Facebook or Twitter accounts, or to all holders of other cryptocurrencies (eg Auroracoin, Stellar, Clams, etc) - doesn’t work. It just leads to the new recipients selling, exchanging or forgetting their new tokens, which are nothing more than funny money. Also, this kind of distribution leads to fraud and abuse from users creating multiple accounts to obtain more tokens in order to dump them.

The right way to distribute a virtual currency - users have to EARN them

Bitcoin miners earn tokens for securing the Bitcoin network by investing computing power and electricity, ie proof-of-work mining. With NeuCoin, the majority of the token supply will also be earned by miners who secure the NeuCoin network through proof-of-stake mining (see NeuCoin’s white paper for an explanation of how this differs from Bitcoin’s method).

However, in the case of NeuCoin, a pre-mined supply of NeuCoins are also given to consumers through “freemium” marketing programs, so that they can try NeuCoins out without any cost or hurdles. But crucially, the NeuCoins are never simply handed out for free - consumers have to earn them by investing time and attention.

The best way to distribute a virtual currency - rewarding users for USING the tokens

Investing time and attention doesn’t mean a few quick clicks to collect a freebie. Rather, users may spend hours trying to win a game to get 5 cents worth of NeuCoins to spend on power-ups. Or log in weekly to Jango.com in order to refill his balance of free NeuCoins to tip musicians with. It’s similar to mining Bitcoin in the early days, except the consumers are spending their time on something that they consider fun - and they’re earning tokens that they have an immediate use for.

This type of EARNING by USING won’t only prevent fraud, it also rewards people for doing something that they already like doing and gives them an even better experience with no change in behavior. You wouldn’t play the NeuCoin-integrated game just to earn the coins because the payouts are too small to be worth your time. But if you like the game anyway, you might play the NeuCoin version of Solitaire or Name-that-Tune instead of another one so you can earn some extra NeuCoins. Plus you might challenge your friend to a game, where the winner gets a couple more coins.

This also makes it attractive for service providers to integrate NeuCoin. They can use NeuCoin distribution as an added value and retention tool to reward their users for certain behaviors - logging in more often, inviting more players, watching more videos, reading more articles, tweeting about or liking the service provider on Facebook, leaving comments, tipping content creators, etc.

When we talked about giving coins to consumers for engaging with NeuCoin, this is what we meant. Real engagement, real use, real value. Giving massive numbers of consumers their first crypto experience, earning and using “freemium” NeuCoins in a way that improves their online experience and makes them want to come back for more.

Fasten your seatbelts for the first explosive consumer adoption of a virtual currency!

For more information, please see:

NeuCoin.org, including Strategic Plan and White Paper

Source code and mining resources on Github

MyNeuCoin, a consumer-friendly online wallet

GetNeuCoin, an onboarding quiz for mainstream users

Blockchain Explorer and first Distribution Review

Exchange listing on Bittrex and Cryptsy

Distribution Plan 2015-2016 , including info on sale restrictions for angels & team

Product and Marketing Roadmap

Delivery of Survey NeuCoins + Project Update

Over the past four weeks, NeuCoin’s core framework has been introduced:

Source code on Github as per the NeuCoin Whitepaper.

MyNeuCoin, a consumer-friendly online wallet

Growth Accounts, a mining service designed for mainstream users

GetNeuCoin, a consumer onboarding quiz

Blockchain Explorer and first Distribution Review

Listing on two exchanges, Bittrex and Cryptsy

With these important fundamentals in place, we can begin releasing and marketing the mainstream applications described in our Strategic Plan and Product and Marketing Roadmap.

Over the next three months, we will roll out:

The first NeuCoin-integrated Facebook game (currently in private beta)

The first tipping application for musicians and fans, a pilot partnership with Jango.com

A turbo-charged referral program giving users free NeuCoins for introducing their friends - who also get free NeuCoins - to play games and tip artists

Mainstream marketing campaigns targeting non-crypto users

As well, starting today, we begin delivery of the free NeuCoin tokens earned for taking surveys and giving feedback on the NeuCoin Project.

All eligible respondents have been emailed instructions on how to claim their free NeuCoins over the next 14 days. Once they have successfully verified their MyNeuCoin account by submitting personal details, connecting to Facebook and completing an SMS verification (to ensure only one entry per unique individual), the free NeuCoin tokens will be transferred to their MyNeuCoin wallet within 24 hours.

While we recognize that account verification is an inconvenience, it is necessary to minimize fraud and abuse, and benefits the vast majority of users who are trying to collect their free NeuCoin honestly, as well as all other NeuCoin community members. Successfully distributing a small number of free NeuCoins to real, unique users for engaging with NeuCoin is instrumental to the long-term value and utility of NeuCoin. Distributing free NeuCoins to fraudulent users with fake accounts would do the opposite.

Thanks for your understanding and your support!

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